Prime/Mansur Reaffirms Contract to Purchase Prime Group Realty Trust (NYSE: PGE)

Share Name	Share Symbol	Market	Type
Prime Grp. Realty Tr	NYSE:PGE	NYSE	Ordinary Share

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Prime/Mansur Reaffirms Contract to Purchase Prime Group Realty Trust (NYSE: PGE)

15/11/2004 9:02pm

PR Newswire (US)

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Prime/Mansur Reaffirms Contract to Purchase Prime Group Realty Trust (NYSE: PGE) CHICAGO, Nov. 15 /PRNewswire/ -- E. Barry Mansur, Chairman of Mansur Interests, Ltd. and controlling shareholder of Prime/Mansur Investment Partners, LLC, issued a statement today on behalf of Prime/Mansur Investment Partners which entered into a definitive Merger Agreement dated October 27, 2004 with Prime Group Realty Trust. (Photo: http://www.newscom.com/cgi-bin/prnh/20041115/CGM068 ) Mansur stated that his entity has complied in every material respect with the terms and conditions of the existing jointly executed Merger Agreement, including obtaining a binding financing commitment from its lenders to provide any and all required financing for Mansur to move forward and complete its acquisition of Prime Group Realty Trust. Mansur, when asked to describe Prime Group Realty Trust's recent public statement to the contrary, stated that, "we believe that PGRT is attempting to renegotiate a substantive provision regarding the structure of the Merger to which it had previously agreed." Mansur recently formed Prime/Mansur Investment Partners, LLC, which includes Michael W. Reschke, the original founder of Prime Group, as a partner. According to Mansur, "negotiations are ongoing between our organization and Prime Group attempting to overcome our differences and complete the planned merger. We are optimistic that our discussions with management will lead to a resolution of our dispute and a closing of the Prime acquisition in the near future. However, if these negotiations are not successful, we will pursue all legal remedies available to us, including the enforcement of the Merger Agreement which we deem to be valid and in full force and effect." http://www.newscom.com/cgi-bin/prnh/20041115/CGM068 DATASOURCE: Mansur Interests, Ltd. CONTACT: Media, Tara Dunne Stocker, +1-312-377-7405, or Britta Carlmark, +1-312-263-2400, both for Mansur Interests, Ltd.

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