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EOP Equity Office Properties Tru

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Share Name Share Symbol Market Type
Equity Office Properties Tru NYSE:EOP NYSE Ordinary Share
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  0.00 0.00% 0.00 -

CoStar Group Signs Nation's Largest Office Property Owner to Long-Term National Agreement

28/07/2005 5:02pm

PR Newswire (US)


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CoStar Group Signs Nation's Largest Office Property Owner to Long-Term National Agreement Equity Office Properties Trust Renews, Expands Multi-Market Agreement BETHESDA, Md., July 28 /PRNewswire-FirstCall/ -- CoStar Group, Inc. (NASDAQ:CSGP) today announced that Equity Office Properties Trust (NYSE:EOP), the nation's largest office building owner and manager, is extending and expanding its relationship with CoStar under a new three-year license agreement. The new agreement renews services for Equity Office professionals throughout the U.S., and provides Equity Office's headquarter office with expanded national access to CoStar Property(R) and CoStar Tenant(R). CoStar believes national access to its comprehensive leasing, sales and tenant information will give Equity Office further insight into market conditions and complex tenant variables. "We are pleased to grow our relationship with one of the industry's premier office building owners," stated CoStar Group President & CEO Andrew C. Florance. "Equity Office is on the leading edge with regard to formulating leasing strategies. We believe CoStar's information can contribute to their program development and decision making." "CoStar's comprehensive property and tenant information gives us tremendous insight into what is going on in the markets and in competitive properties," stated Tom Bakke, Senior Vice President of National Leasing & Marketing at Equity Office. "This information is helpful in making decisions to maximize the income potential of available space in our properties." Under the agreement, CoStar is providing Equity Office professionals in 23 U.S. offices with access to CoStar Property Professional(TM), CoStar's comprehensive database of office, industrial and retail properties, and CoStar's entire national inventory of for-sale listings. In addition, some Equity Office professionals have access to CoStar Tenant, a detailed business- to-business prospecting and analytical tool providing commercial real estate professionals with comprehensive tenant information. Equity Office Properties Trust is the largest real estate investment trust (REIT) in the United States. The company owns approximately 650 properties comprising more than 110 million square feet of office space in the country's major metropolitan markets. About CoStar Group, Inc. CoStar Group, Inc., (NASDAQ:CSGP) is the leading provider of information services to commercial real estate professionals in the United States and the United Kingdom. CoStar's suite of services offers customers access via the Internet to the most comprehensive database of commercial real estate information on over 60 U.S. markets, London and the United Kingdom. Based in Bethesda, MD, the company has approximately 1,000 employees throughout the United States and the United Kingdom, including the largest professional research organization in the industry. This news release includes "forward-looking statements" including, without limitation, statements regarding CoStar's expectations, beliefs, intentions or strategies regarding the future. These statements are subject to many assumptions, risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. More information about potential factors that could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, those stated in CoStar's filings from time to time with the Securities and Exchange Commission, including CoStar's Form 10-Q for the period ended March 31, 2005, under the heading "Risk Factors." In addition to these statements, there can be no assurance that national access to comprehensive leasing, sales and tenant information will give Equity Office further insight into market conditions and complex tenant variables. All forward-looking statements are based on information available to CoStar on the date hereof, and CoStar assumes no obligation to update such statements. DATASOURCE: CoStar Group, Inc. CONTACT: Mark A. Klionsky, Senior Vice President, of CoStar Group, Inc., +1-301-280-3898, or Web site: http://www.costar.com/

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