Commercial Real Estate presentation about the 2009 Industrial/Warehouse and Distribution market in Birmingham and Central Alabama

1. CCIM/NAIOP Industrial Market Review Presented by: Mark Byers, SIOR Executive Vice President EGS Commercial Real Estate

3. Birmingham Historical Occupancy 3rd Quarter Statistics

4. Birmingham Industrial Submarkets Southern 3.9 million sf 82.7% occupied Southwestern 2.2 million sf 63.3% occupied Eastern 1.3 million sf 90.0% occupied Central 4.2 million sf 84.3% occupied Oxmoor Valley 2.7 million sf 83.8% occupied

5. Map of Southeast

6. Birmingham Occupancy vs. Other Southeast Markets 3rd Quarter Statistics

7. Birmingham Vacancy vs. Other U.S. Cities 10.30% TOTAL - C&W MARKETS 10.60% TOTAL -ALL MARKETS SOURCE: Cushman & Wakefield Research 10.70% Tucson, AZ *** 12.80% Raleigh/Durham, NC *** 17.40% Memphis, TN *** 18.90% Detroit, MI *** 8.80% Tampa, FL 9% Portland, OR 9.20% Louisville, KY *** 7.30% Denver, CO 14.90% Syracuse, NY *** 10.10% Pittsburgh, PA *** 5.60% Los Angeles-South, CA 12.40% Dallas/Ft. Worth, TX 13.60% Suburban MD *** 15.50% Phoenix, AZ 4.40% Los Angeles-North, CA 15.80% Contra Costa, CA 16% Stockton/Tracy, CA 8.70% Philadelphia, PA 5.10% Los Angeles, CA 13.80% Columbus, OH *** 6.80% St. Petersburg/Clearwater, FL 9.70% Palm Beach, FL 10.10% Long Island, NY 7.90% Cleveland, OH *** 8.50% St. Louis, MO *** 15.20% PA I-871/I-78 Distribution Corridor 6.70% Lakeland, FL 11.40% Chicago, IL 13.90% Silicon Valley, CA 13.60% Orlando, FL 7.10% Kansas City, MO *** 14.30% Charlotte, NC *** 9% Seattle, WA 7.10% Orange County, CA 11.90% Jacksonville, FL 10.10% Central, NJ *** 8.40% San Francisco Peninsula, CA 8.90% Oakland, CA 13.50% Inland Empire, CA 15.80% Boston, MA 10.50% San Diego, CA 15.10% Northern, VA 10.50% Indianapolis, IN *** 22.70% Birmingham, AL *** 15.60% San Antonio, TX *** 7.40% Northern, NJ *** 9.70% Houston, TX 13.10% Bingham, NY *** 7.40% Salt Lake City, UT *** 8.90% Nashville, TN *** 12.80% Hartford, CT 11.40% Bellevue, WA 11.90% Rochester, NY *** 12.50% Minneapolis, MN 10.40% Hampton Roads, VA*** 12.90% Baltimore, MD 15.10% Roanoke, VA *** 8.80% Milwaukee, WI *** 10% Ft. Lauderdale, FL 18.20% Austin, TX *** 10.70% Richmond, VA *** 9.10% Miami, FL 24.50% Fredericksburg, VA *** 10.20% Atlanta, GA Overall Vacancy Rate Market Overall Vacancy Rate Market Overall Vacancy Rate Market Overall Vacancy Rate Market

17. CCIM/NAIOP Industrial Market Report Presented by: Mark Byers, SIOR Executive Vice President EGS Commercial Real Estate