August 6, 2003

Press Release July 24, 2003

409 East 60^th Street, New York, NY  10022

            The original Knickerbocker Ice Company building, and in recent years named The

Edison Price Building located at 409 East 60^th Street, has been sold to The Rockefeller

University.

            The site is currently defined by a 100’ x 100’, 4-story and rooftop greenhouse building of heavy-duty concrete and steel construction, containing 40,000 square feet will be torn down and The Rockefeller University will construct a new building facility on the 100’ x 100’ site.  According to Gregg Schenker, the lead broker on the sale, the family who owned the building since the 1950’s felt strongly that the preferred purchaser, amongst a number of prospective

purchasers, was The Rockefeller University.  Gregg quoted Mr. Lunny, the seller, as saying

“…The Rockefeller University does wonderful research and tremendous good in the field

of medical research and we would prefer to sell the property to The Rockefeller

University…”. Schenker indicated that there were multiple parties interested in acquiring

this full possession site on 60^th Street between First and York Avenues.  The building had

been marketed for approximately three years.  The long sought objective was to find a user

who could take advantage of the proximity to the major East Side institutions and who

would not otherwise find a site of 100’ x 100’.

            Brokers were Gregg L. Schenker, Steven Hornstock, Earle S. Altman, Randy

Modell and Cindy Glanzrock of Murray Hill Properties/Altman/Burack Partners, LLC

The Lunny family was represented by Larry Simon, Esq. of Phillips, Nizer, LLP.  The

Rockefeller University was represented by Fredrick M. Bohen, Acting Executive Vice President

and Jonathan S.  Margolis, Esq. of Bryan Cave, LLP

                                                                                                Gregg L. Schenker

                                                                                                Altman/Burack Partners, LLC

                                                                                                Affiliated with Murray Hill Properties

                                                                                                1140 Avenue of the Americas

                                                                                                NYC, NY  10036

                                                                                                212-398-8016