BUILDING AND LAND TECHNOLOGY BUYS XEROX CORPORATE HEADQUARTERS

Stamford, CT - (January 4, 2007) - In one of the largest regional real estate transactions of 2006, an affiliate of Norwalk-based Building and Land Technology, owned by Carl and Paul Kuehner, has purchased this Fortune 500's landmark headquarters at 800 Long Ridge Road in Stamford, CT. The 25-acre corporate campus, just south of Merritt Parkway exit 34, includes the Xerox headquarter building of approximately 255,000 square feet.

The Kuehners have long recognized Stamford's underlying stability and unique appeal to international business. Building and Land Technology President and CEO, Carl R. Kuehner, III said he and his brother, Paul J. Kuehner, BLT CFO, have been waiting for a Stamford property of this level of prominence to become available. According to Carl Kuehner, "we look to acquire and/or build in high profile areas that offer ease of access and a full range of amenities. The Xerox headquarters met all our criteria and it has been meticulously maintained and upgraded since its construction".

A second-generation real estate development company, Building and Land Technology has completed ventures worth more than $2 billion as developers, builders and historic redevelopers. In Norwalk alone, their Towers corporate campus consists of 900,000 square feet in three Class A+ office buildings at the junction of the Merritt Parkway and Route 7 Connector. The first two buildings are leased in their entirety to the United States corporate headquarters of Diageo North America, Inc., the world's largest beverage company, and to the regional headquarters of Hewitt Associates, one of the world's largest outsourcing and consulting companies. The third tower, topped by a heliport, is nearly three-quarters leased to GE Commercial Finance, IMS Health, FactSet and Marsh, Inc.

For additional information, please contact Lisa Randazzo, 203-846-1900 x1510 or email lisa@bltoffice.com.