Gale International Selects Jones Lang LaSalle to Lease Northeast Asia Trade Tower in New Songdo City, South Korea

Gale International Selects Jones Lang LaSalle to Lease Northeast Asia Trade Tower in New Songdo City, South Korea

July 25, 2007

65-Story, $500 Million Building to be Signature Commercial
Building in International Business District and Korea's
Tallest


    NEW YORK, July 25 /Xinhua-PRNewswire/ -- Gale
International today announced that Jones Lang LaSalle has
been selected as the exclusive leasing agent for the
Northeast Asia Trade Tower, the first commercial office
tower to be built in the International Business District in
New Songdo City, Incheon, South Korea.  The $500 million,
65-story, 1.3 million square feet Northeast Asia Trade
Tower (NEATT) will serve as New Songdo's signature
structure and, when completed, will stand as Korea's
tallest building. 

    Gale International selected Jones Lang LaSalle because
of its wealth of experience and expertise in office leasing
and sales worldwide, and its established presence throughout
Asia and Korea.  Jones Lang LaSalle will focus on attracting
high-level multinational corporations to New Songdo.  

    New Songdo, a $25 billion new city and international
business district, is being developed on 1,500 acres of
reclaimed land along Incheon's waterfront by Gale
International and POSCO E&C in a 70/30 joint venture.
Gale International is a premier international real estate
development and investment company headquartered in New
York.

    Rising more than one thousand feet above the Yellow
Sea, the Northeast Asia Trade Tower will set the benchmark
in Northeast Asia for a globally oriented, 24-hour business
complex that offers a full complement of support services
and amenities. It will be home to leading international
corporations and financial institutions.  NEATT's retail
space will feature flagship boutiques of premier
international fashion names. More than 200 rooms on the top
20 floors have been designated for luxury hotel and extended
stay apartments. The spectacular skyscraper, designed by
Kohn Pedersen Fox Associates PC and built by Daewoo
International Corporation and POSCO E&C, will feature
an observation deck with sweeping vistas of the
island-dotted Yellow Sea and nearby mountain peaks. 
Construction commenced February 2007 with completion
scheduled for 2009.

    Stanley C. Gale, Chairman and Managing Partner of Gale
International said, "We are striving to build an
international city and recognize the need for dynamic
partnerships with world-leading experts.  The unparalleled
expertise and services of Jones Lang LaSalle fit this goal
perfectly."

    John B. Hynes, III, Chief Executive Officer and
Managing Partner of Gale International said, "The
Northeast Asia Trade Tower is a premier property that
called for a premier real estate partner - we have that in
Jones Lang LaSalle." 

    Jeremy Sheldon, International Director and Head of
International Business at Jones Lang LaSalle said, "We
are honored to be involved in the development of New Songdo
City. This is a significant appointment for Jones Lang
LaSalle in Korea, regionally and globally, one that will
showcase the strength of our international platform and
depth of our real estate expertise."

    James Tyrrell, Managing Director, Korea at Jones Lang
LaSalle noted that Northeast Asia Trade Tower's top-notch
specifications, innovative design and high quality
facilities are very attractive to multinational
corporations. "We will leverage our global and
regional network to introduce and market this project to
our clients and prospects around the world. We expect
interest levels to be high, especially at this time when
the Korean real estate market is in a strong growth phase. 
There is a huge amount of international capital seeking real
estate investment opportunities in the region."  Jones
Lang LaSalle currently manages a wide range of office and
retail properties in Korea and NEATT will be the largest
assignment the firm has handled in recent years.  

    Songdo, "The Gateway to Northeast Asia," will
be the first new city in the world designed and planned as
an international business district.  It is the largest
private real estate venture in history.  Designated a Free
Economic Zone, Songdo will include fifty million square
feet of office space, thirty million square feet of
residential space, ten million square feet of retail, five
million square feet of hotel space and ten million square
feet of public space.  Every conceivable cultural and
recreational amenity will be available including a world
class hospital, an international preparatory school, a
Central Park, an art museum and a Jack Nicklaus golf
course.

    This master-planned metropolis will be connected to the
Incheon International Airport, one of the world's busiest
airports, by a 7.4 mile highway bridge; and linked by
subway to Seoul, which is 35 miles to the southwest.  It is
estimated that when completed in 2014, Songdo will be home
to 65,000 people and that 300,000 will work there. 
Additional information can be accessed via
http://www.NewSongdoCity.com .

    Gale International is a premier international real
estate development and investment company headquartered in
New York with offices in Boston; Irvine, California; Seoul
and New Songdo, South Korea. It is dedicated to creating
environments where people thrive.  Commitment to quality
and integrity is its core principle.  

    Jones Lang LaSalle (NYSE: JLL), the only real estate
money management and services firm named to FORTUNE
magazine's "100 Best Companies to Work For" and
Forbes magazine's "400 Best Big Companies," has
approximately 160 offices worldwide and operates in more
than 450 cities in over 50 countries.  With 2006 revenue of
over USD2 billion, the company provides comprehensive
integrated real estate and investment management expertise
on a local, regional and global level to owner, occupier
and investor clients. Jones Lang LaSalle is an industry
leader in property and corporate facility management
services, with a portfolio of over 1 billion square feet
worldwide. In 2006, the firm completed Capital Market sales
and acquisitions, debt financing, and equity placements on
assets and portfolios valued at USD70.9 billion. LaSalle
Investment Management, the company's investment management
business, is one of the world's largest and most diverse
real estate money management firms, with approximately
USD44.3 billion of assets under management. For further
information, please visit our website,
http://www.joneslanglasalle.com . 

    Jones Lang LaSalle has over 45 years of experience in
Asia Pacific. With over 12,500 employees operating in more
than 60 offices in 13 countries across the region, the
company is positioned to partner with clients to provide
the quality advice needed for making quality decisions.   


    For more information, please contact: 

     International and U.S. Queries: 
      Mary Lou DiNardo
      Gale International
      Tel:   [phone]
      Email: [e-mail]

     Domestic ROK Queries:
      Hyewon Chang of Gale International
      Tel:   [phone]
      Email: [e-mail]

      Jeremy Sheldon
      International Director
      Jones Lang LaSalle
      Tel:   [phone]
      Email: [e-mail]

      James Tyrrell
      Managing Director
      Korea
      Jones Lang LaSalle
      Tel:   [phone]
      Email: [e-mail]

      Web:   http://www.NewSongdoCity.com
             http://www.joneslanglasalle.com