Chicago Dock & Canal Trust

The Chicago Dock & Canal Trust is an equity oriented real estate investment trust company that owns partially developed land located in downtown Chicago, Illinois and income producing real property in Chicago and elsewhere. The company's principal real estate investments consist of; fee title or other interests in approximately 22 acres of partially developed land in Cityfront Center in downtown Chicago; Waterplace Park, an office complex in Indianapolis and Lincoln Garden, an office complex in Tampa, Florida. The company retained Lehman Brothers Inc in February 1996 as advisors to future strategic investment alternatives to enhance shareholder value. Rental income accounted for 98% of fiscal 1996 revenues; investment and other income, 2%.