Friday, June 15, 2001

CONTACTS:
Beth Tuttle, The Freedom Forum, 703/284-3722
Karen L. Widmayer, CarrAmerica, 202/729-1789

Freedom Forum taps CarrAmerica for Newseum project

ARLINGTON, Va. — The Freedom Forum has selected the Washington, D.C.-based firm CarrAmerica Urban Development, LLC, to serve as project manager for the development of The Freedom Forum/Newseum building on Pennsylvania Avenue. CarrAmerica previously has developed nine Pennsylvania Avenue projects, including the Willard Hotel.

"CarrAmerica was selected after a national search. Their proven record in D.C. and their collegial style will complement the work that has already begun with our architects and our staff," said Charles L. Overby, Freedom Forum chairman and chief executive officer. "We are already well under way developing content and design options and have nearly 75 people on staff at The Freedom Forum and Newseum hard at work on the project."

This project will relocate The Freedom Forum and the Newseum, the interactive museum of news, from nearby Arlington to the corner of Pennsylvania Avenue and 6th Street, N.W., just west of the Capitol. The project, which integrates residential, office and museum exhibit space components, will significantly expand and update the Newseum's content and will more than double the exhibit space in the current museum.

The announcement comes just prior to the Department of Employment Services vacating the existing building on the site. District of Columbia Mayor Anthony C. Williams is expected to present Overby with the keys to the building on Thursday, June 21, at an event for Freedom Forum trustees and guests hosted by Canadian Ambassador Michael Kergin. The event is being held at the Canadian Embassy, the Newseum's future next-door neighbor.

"CarrAmerica is excited to have the opportunity to work with the exceptional people of The Freedom Forum and their superb project team," said CarrAmerica Urban Development President Robert O. Carr. "The Newseum is a remarkable project of unique importance to the Washington, D.C., community."

The new building will be located in the heart of the downtown Washington, D.C., tourist district, across the street from the National Gallery of Art and the National Mall. CarrAmerica will join Polshek Partnership Architects and Ralph Appelbaum Associates, who are leading the building and museum design efforts, respectively.

CarrAmerica Urban Development, LLC, a subsidiary of CarrAmerica Realty Corp. (NYSE:CRE), focuses on development opportunities in the downtown Washington, D.C., real estate market. CarrAmerica Urban Development recently completed 1201 F St., a 227,000-square-foot, Class-A office building in Washington's East End submarket. Other current developments include 575 Seventh St. (Square 456), a 534,000-square-foot office, retail and residential complex scheduled for completion in August 2003; 1750 H St., a 111,000-square-foot-office building scheduled for completion in fall 2002; and the co-development of 799 Ninth St. with DRI Partners, a 201,000-square-foot office building scheduled for completion in November 2001.