Completion of Purchase of Three Corinth Office Buildings

On June 20, 2008, Tower Properties Company completed the purchase of the three Corinth office buildings in Prairie Village, Kansas at 4121 W. 83rd Street (Corinth Executive Building), 8340 Mission Road (Corinth Office Building), and 4200 Somerset Drive (Somerset Building) from Highwoods Realty Limited Partnership pursuant to the real estate contract entered into on February 11, 2008 as reported in a news release to Pink Sheets on February 15, 2008. The final purchase price was $9,950,000, which is $50,000 less than the original contract price due to negotiated adjustments. The purchase of the three Corinth Office buildings is not part of Sec. 1031 like-kind exchange.