Trizec (NYSE:TRZ)
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Trizec Properties, Inc. (NYSE:TRZ), one of North
America's leading office property owners, announced today that it has
been awarded the 2005 Gold "Leader in the Light" award from the
National Association of Real Estate Investment Trusts (NAREIT) in
collaboration with the United States Environmental Protection Agency
(EPA). Trizec was honored during an awards breakfast at the 2005
NAREIT Annual Convention, held in Chicago on November 4, 2005.
The NAREIT Leader in the Light award recognizes company-wide
operations which generate substantially improved energy efficiency and
expense management. Trizec received the top award in the Large Market
Cap category (above $1.7 billion). Applicants were judged by a panel
of three experts from the fields of academia, business/finance, and
the EPA in the following categories: Organizational Commitment and
Approach, Financial and Environmental Value of Energy Achievements and
Portfolio-Wide Energy Use.
"We are delighted that NAREIT and the EPA are recognizing the
impact of the REIT industry in the area of energy use and efficiency
and we are honored that they have chosen Trizec as the recipient of
the first 'Leader in the Light' award," said Bill Tresham, Trizec
Executive Vice President and Chief Operating Officer. "Trizec is
dedicated to the pursuit of excellence in the area of energy
management, monitoring, control and consumption, and as a publicly
traded REIT, we understand the importance of operating our properties
in an environmentally and financially responsible manner."
Trizec's formal commitment to energy conservation and management
began in the late 1990's with the introduction of 'Trizec's Energy
Excellence Program,' which is focused on achieving exceptional results
and constantly improving the energy performance of the portfolio. To
effectively administer its portfolio-wide energy conservation program,
Trizec has implemented sophisticated systems to monitor energy
consumption, store detailed comparative data and generate reports that
aid in the analysis of the energy conservation efforts of every
property in the Trizec portfolio.
Since the program was formally instituted five years ago, Trizec
has realized a savings of approximately 15% in energy consumption over
the base year of the program. This translates to savings of almost $16
million annually. Additionally, the impact of Trizec's program has
translated in a reduction of CO2 emission by approximately 690,000
tons per year as compared to the base year. This reduction in CO2
emission is equivalent to removing approximately 125,000 vehicles from
the nation's highways.
Trizec Properties, Inc., a real estate investment trust (REIT)
headquartered in Chicago, is one of the largest owners and operators
of commercial office properties in the United States. The Company has
ownership interests in and manages a high-quality portfolio of 50
office properties totaling approximately 37 million square feet
concentrated in the metropolitan areas of seven major U.S. cities. The
Company trades on the New York Stock Exchange under the symbol TRZ.
For more information, visit Trizec's web site at www.trz.com or call
toll free at 1 (800) 891-7017.