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BACKGROUND AND HISTORY

Eagle Equity, Inc. was formed in 1991 to acquire, manage and develop income-producing commercial real estate concentrating primarily on retail centers, office tech developments and medical office developments. The portfolio (including affiliates) currently contains shopping centers, medical and office/tech properties. Eagle Equity, Inc. has a well seasoned, highly qualified staff of real estate investment and property management professionals. The information that follows provides a brief description of the individuals that play a key role in the company’s operations as well as the management of the current Eagle portfolio.

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MANAGEMENT AND PERSONNEL

LAWRENCE E. STEINBERG is Chairman and Chief Executive Officer of Eagle Equity, Inc. Mr. Steinberg has been an active investor in real estate for over forty (40) years. Prior to engaging in the real estate business on a fulltime basis, Mr. Steinberg practiced law for over twenty five (25) years. Also, Mr. Steinberg has invested in a number of business ventures and has been the owner of a television station in Charleston, South Carolina and a chain of video stores in Houston and Dallas, Texas. He serves on various corporate and philanthropic boards. Mr. Steinberg holds a bachelor of business administration from the University of Texas and a law degree from Southern Methodist University.

MICHAEL A. HERSHMAN formed Eagle Equity, Inc. with Lawrence E. Steinberg in February of 1991, and has served as its president since December of 1992. Mr. Hershman has extensive real estate expertise developed over years in real estate acquisition, development, finance and management. Mr. Hershman has been responsible for over $300 million of acquisitions, dispositions, developments and financings with Eagle Equity, Inc. Mr. Hershman received a Bachelor of Business Administration degree in accounting from the University of Texas at Austin in 1977 and is a licensed Texas real estate broker and a certified public accountant.

MADGE COOPER has been the Executive Assistant to the owners of Eagle Equity, Inc. since 1998. She has forty (40) years of experience as an Executive/Legal Assistant. She assists the owners in the day-to-day operations of Eagle Equity and is responsible for maintaining the formation documents of all properties and entities; as well as preparation of leases.

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