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LERNER COMPLETES TRANSACTION WITH THE NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION AT DULLES TOWN CENTER IN LOUDOUN COUNTY, VIRGINIA

DULLES, Virginia , January 15, 2009  -  Lerner Enterprises, Washington, D.C.'s largest private real estate developer, sold approximately 42 acres at Dulles Town Center in Dulles, Virginia, to the National Rural Utilities Cooperative Finance Corporation (National Rural) of Herndon, Virginia to be held for the possible future development of a new highly energy efficient and cost effective corporate headquarters earmarked for Gold LEED Certification.

“We are proud to have National Rural as a new long-term neighbor in The Corporate Office Park at Dulles Town Center, as their commitment to our long-term vision of improving the lifestyle of residents of Loudoun County was ideal for this transaction,” stated Arthur N. Fuccillo, Executive Vice President of Development and Construction for Lerner.  “At the end of the day, we are excited to have such a large employer in the heart of our master-planned community, Dulles Town Center,” he added.

John Evans, Senior Vice President of National Rural noted that, “Dulles Town Center has an ideal location near Washington Dulles International Airport.  The site provides a world-class work environment with an abundance of restaurants, residences and great shopping located nearby that is necessary to attract and retain the highest caliber employees to best serve our membership.”  He added, “Our future long term goals involve the construction of a more energy efficient and accessible central office, where National Rural will deliver the same high quality and reliable financial services that our member owners have come to expect.”

The National Rural Utilities Cooperative Finance Corporation is a member owned organization that provides financial products and services to its members located throughout the United States, CFC has assets in excess of 20billion dollars and employs over 200 people at its corporate headquarters presently located in Herndon, Virginia.

The transaction was a collaborative effort involving DTC Partners, LLC, an affiliate of Lerner Enterprises, National Rural Utilities Cooperative Finance Corporation, Reed Smith, LLP, as land use and transactional counsel, Kishimoto, Gordon & Dalaya (KGD), as project architects, EDAW as landscape architects, and Dewberry, as civil engineers.

For additional information on Dulles Town Center, please visit:
DullesTownCenter.com
ShopDullesTownCenter.com
ParcDullesAtDTC.com
RemingtonApartmentsDulles.com

For additional information on National Rural, please visit:  NRUCFC.org

ABOUT DULLES TOWN CENTER
Dulles Town Center is a 500-acre master planned live-work-play community located at the confluence of Route 7 and Route 28 in Dulles, Virginia.  Dulles Town Center features Dulles Town Center Mall, a 1.4 million square foot super-regional shopping center with majors including Nordstrom, Lord & Taylor, Macy’s, JC Penney, Sears and Dick’s Sporting Goods, a Courtyard by Marriott hotel, two luxury apartment communities Remington and Parc Dulles, the Colonnade Townhome community, KinderCare, LA Fitness, a restaurant mix home to several exclusive full-service restaurants such as Vapiano, Benihana, Mimi’s Café and The Cheesecake Factory among others and 21000 Atlantic Boulevard, a 185,000 square foot world-class  office building.

ABOUT LERNER ENTERPRISES
Lerner Enterprises of Rockville, Maryland, founded by Theodore N. Lerner in 1952, is Washington, D.C.'s largest private real estate developer and is involved in all phases of office, retail, hotel and residential real estate including planning, development, construction, leasing and property management.  Lerner has developed, and currently manages more than 15 million square feet of office buildings, retail centers and residential communities.  Lerner's office portfolio has several well-known developments including: The Corporate Office Centre at Tysons II, McLean, VA; The Corporate Office Park at Dulles Town Center, Dulles, VA; 2000 Tower Oaks Boulevard, Rockville, MD; White Flint North, North Bethesda, MD; Washington Square at 1050 Connecticut Avenue, NW and  20 M Street, SE in Washington, DC; Flint Hill Office Park, Fairfax, VA; 7799 Leesburg Pike, Falls Church, VA;  and 400 Army Navy Drive, Arlington, VA, among many others.