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CRIIMI MAE Names Three Real Estate and Financial Leaders to Board
William B. Dockser Resigns as a Director
ROCKVILLE, Md., Feb. 19 /PRNewswire-FirstCall/ -- CRIIMI MAE Inc. today
announced that its Board of Directors has appointed three new directors to the
Board effective February 26, 2004. Glenn J. Rufrano, the CEO of New Plan Excel
Realty Trust , and John S. Moody, President of the Real Estate Division of Marsh
& McLennan Companies, Inc. , will fill the vacancies created by the resignation
ofDonald J. MacKinnon in January 2004 and the resignation of William B. Dockser
effective February 25, 2004. Bruce K. Robertson, Managing Partner, Financial
Services of Brascan Corporation Toronto, will fill the remaining vacant
position on CRIIMI MAE's nine-person Board.
Barry Blattman, Chairman and Chief Executive Officer said, "The Company is
extremely pleased that three individuals of this caliber have agreed to offer
their experience and judgment to CRIIMI MAE as we continue to rebuild and
reposition the firm. Glenn, John and Bruce bring a wealth of knowledge
regarding the public REIT industry and we look forward to their contributions to
CRIIMI MAE's future."
Glenn Rufrano has been CEO of New Plan Excel Realty Trust, one of the nation's
largest real estate companies focused on the ownership and management of
community and neighborhood shopping centers, since February 2000. From 1983 to
February 2000, Mr. Rufrano was a partner at The O'Connor Group, a diversified
real estate investment firm, where he served in a variety of positions including
President, Chief Operating Officer and Chief Financial Officer. He also served
as Co-Chairman of The Peabody Group, an association between The O'Connor Group
and J.P. Morgan & Co., Inc. Mr. Rufrano is an adjunct professor at New York
University's Real Estate Institute and is a member of the Board of Governors of
the National Association of Real Estate Investment Trusts (NAREIT), and a
trustee for the International Council of Shopping Centers. Mr. Rufrano also
serves on the board of Trizec Properties, Inc.
John Moody is President of the Real Estate Division at Marsh & McLennan
Companies, Inc., the world's leading insurance broker and risk management
advisor, where he is responsible for developing and coordinating the execution
of Marsh & McLennan's real estate strategies. From 1995 to 2001, Mr. Moody
served as President and Chief Executive Officer of Cornerstone Properties, Inc.,
a $4.6 billion office REIT that merged with Equity Office Properties Trust in
June 2000. Before serving with Cornerstone, he was President and Chief
Executive Officer of Deutsche Bank Realty Advisors, the advisor for Cornerstone,
from 1992 to 1995. Mr. Moody serves on the boards of Keystone Property Trust
andEquity Office Properties.
Bruce Robertson is the Managing Partner, Financial Services, with Brascan
Corporation and has been responsible for Brascan's lending operations and its
financial services investments since 1998. In 1997, he was Vice President and
Chief Financial Officer of Brascan and during 1996, he was Vice President of its
Investment Banking subsidiary. Prior to joining Brascan, Mr. Robertson was
employed by Deloitte & Touche Inc. and served in various positions from 1988 to
1995, including Vice President. Mr. Robertson is a member of the Board of
Directors of MIST Inc.
William B. Dockser, the Company's former Chairman and CEO, resigned as a
director to focus on his philanthropic and business matters. Commented Blattman
"on behalfof the Company and its stockholders, we thank Mr. Dockser for his
service as a director, especially during the transition period following the
January 2003 recapitalization and we wish him much success in his new
pursuits."
For further information, shareholders and securities brokers should contact
CRIIMI MAE Inc at (301) 816-2300, e-mail and news media should contact James
Pastore, Pastore Communications Group LLC, at (202) 546-6451, e-mail .
DATASOURCE: CRIIMI MAE Inc.
CONTACT: For shareholders and securities brokers: Susan B. Railey of
CRIIMI MAE Inc., +1-301-468-3120; For news media: James T. Pastore,
+1-202-546-6451, for CRIIMI MAE Inc.
Web site: http://www.criimimaeinc.com/