PRAEDIUM GROUP OPENS LOS ANGELES OFFICE

Los Angeles, CA - May 7, 2008 - The Praedium Group, a New York City-based national real estate investment firm, announced the opening of its Los Angeles offices at 9911 West Pico Boulevard. The company has signed a lease within the 14-story office tower located in the heart of West Los Angeles' Century City.

In conjunction with its decision to establish a West Coast office, Praedium has relocated one of its vice presidents, Scott Schonfeld. Further expanding its investment capabilities in the region, Praedium also hired Anthony Marconi as real estate analyst. Robert Murray, Director, will continue to spearhead Praedium's West Coast efforts, working from both the Los Angeles and New York offices.

"While we already have significant holdings on the West Coast, we are eager to expand our presence in the region," said Russell Appel, President of The Praedium Group. "We believe the West Coast offers excellent investment opportunities. By establishing a Los Angeles office and staffing it with exceptional talent, we are better positioned to capitalize on these investments," added Floyd Lattin, Chief Investment Officer of The Praedium Group.

In California, the firm will continue to pursue investments that meet its strategy of identifying opportunistic, value-added real estate, and enhancing these assets through successful leasing, management or repositioning campaigns. In addition, The Praedium Group will seek debt opportunities as they become increasingly attractive on a risk-adjusted basis given the current displacement in the commercial mortgage market. The firm is investing its most recent $900 million real estate private equity fund, The Praedium Fund VII, L.P. ("Praedium VII"). Praedium VII has the purchasing power to acquire $3 billion in real estate assets.

About The Praedium Group -The Praedium Group is a real estate investor focusing on under-performing and under-valued assets throughout North America, with over $7.0 billion in total investments to date in more than 275 transactions comprised of 45 million square feet of commercial space and 55,100 multifamily units. Praedium was formed in 1991 with a leading international investment bank as its sole investor. Building on the experience and exposure gained through this original investment program, Praedium has been a sponsor of commingled real estate private equity funds since 1994. The funds sponsored by Praedium have attracted investors that include public and corporate pension funds, financial institutions, insurance companies and endowments.

Praedium is investing its most recent $900 million real estate private equity fund, Praedium Fund VII. The Group expects that this equity will be leveraged to acquire up to $3 billion in properties. The fund invests in mid-cap assets throughout the United States and Canada in the $10 to $70 million range, targeting multifamily, office, retail and industrial property types.  Cadim, a Montreal-based real estate investor, is a major shareholder of The Praedium Group. Cadim is a division of the Caisse de depot et placement du Quebec and a member of the Real Estate group of the Caisse. The Caisse is one of the world's 10 largest real estate managers among pension fund managers.

For more information, please see www.praediumgroup.com.