For Immediate Release
Contact: Lauren Hames 407-246-3106

ORLANDO CITY COUNCIL APPROVES
DYNETECH CENTRE DEVELOPERS AGREEMENT

ORLANDO, FL (December 13, 2004) -- The Orlando City Council today approved the Dynetech Centre contract for sale and purchase and developers agreement for a 27-story mixed-use development in downtown. Pending issuance of permits, the developers anticipate breaking ground in the late spring.

Dynetech Centre will be the first high rise in the Central Florida region to include office, commercial and residential of this magnitude in the same tower; it will also serve as Dynetech Corporation’s international headquarters. In addition, the project will be the first major development designed as a transition between the Orange Avenue office corridor and the residential neighborhoods around Lake Eola and in Thornton Park.

“This development is just one more step in accomplishing my vision of a strong local economy and a revitalized and dynamic downtown,” said Mayor Buddy Dyer. “This is a great opportunity to retain and bring additional high-wage, high-value jobs to our city.

The proposed, mixed-use high rise is to be built at the northeast corner of Magnolia Avenue and Washington Street. The project features:

• Up to 150,000 square feet of office, including ground floor restaurant or retail

• Approximately 125-150 rental apartments overlooking Lake Eola

• Approximately 550-car parking garage with up to 400 spaces available after hours, weekends and holidays for use by the general public.

Dynetech Corporation, one of downtown Orlando’s leading high-tech employers, is an Orlando-based enterprise development, management and technology company with projected sales of $171 million in 2004.

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