Pan Pacific Hotels and Resorts has been chosen to operate a 160-room, five-star boutique hotel. Its first hotel in the U.S. Northwest, Pan Pacific will be the focal point of the 550,000-square-foot mixed-use project located at the southeast corner of Westlake and Denny streets.

Whole Foods Market(R) will operate a 47,000-square-foot grocery store, filling a major void for a grocery store in the Downtown, South Lake Union and Denny Triangle neighborhoods. As the world's largest retailer of natural and organic foods, Whole Foods currently has 160 stores in North America and the United Kingdom.

In addition, 2200 Westlake will include 261 condominium homes, 39,000 square feet of shops and restaurants, and a luxury spa. Bank of America has also signed on to open a 5,700-square-foot full service banking facility at the project.

"We are delighted to welcome Pan Pacific and Whole Foods Market to 2200 Westlake and it is fitting that these two world-class companies should join the most exciting project in North America," said Don Milliken, president of Milliken Urban Limited Partnership. "By combining residential and hotel services with key amenities, 2200 Westlake defines a new style of urban living and provides a complete lifestyle center all in one location."

"The 2200 Westlake project serves as the gateway to South Lake Union and will bring together all the components of a great urban, mixed-use development," said Ada M. Healey, vice president of real estate for Vulcan Inc. "The magnitude of the project and the range of amenities it offers ensures that 2200 Westlake will become a focal point for South Lake Union and surrounding Seattle neighborhoods."

Construction of 2200 Westlake commenced in July 2004 and completion is scheduled for August 2006.
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2200 Westlake Avenue Project

Internationally known for its personalized service, attention to detail and luxurious accommodations, Pan Pacific will integrate the hotel's services with condominium homes. Residents can take advantage of exclusive luxuries usually reserved for hotel guests including 24-hour room service, concierge, valet parking, housekeeping, turn down service and more.

Blending the grace and charm of Asian hospitality with international quality service standards, Pan Pacific Seattle will introduce an innovative concept of high touch, high technology. Similar to the features found only at the world's most sophisticated properties, the hotel will offer "high touch" services such as a team of associates trained to service guests with the most personalized and flexible care and "high tech" amenities such as wireless broadband connectivity throughout the entire property. The Hirsch Bedner designed guest rooms will feature contemporary bathrooms with rain showers, flexible workspace and flat screen TVs.

"Pan Pacific Hotels and Resorts is thrilled to join the 2200 Westlake project and bring a luxurious lifestyle and business experience to this exciting, cosmopolitan city," said Steve Halliday, director and senior vice president of Pan Pacific Hotels and Resorts. "The energy and liveliness of Seattle's South Lake Union neighborhood creates a great opportunity for Pan Pacific Hotels and Resorts to break into a major gateway in the northwest corridor of the U.S."

Whole Foods Market(R) currently has one other existing store in Seattle at Roosevelt Square and recently opened a second flagship store in Bellevue, Wash.

"Whole Foods Market looks forward to providing the South Lake Union area of Seattle with a very dynamic shopping experience for people who love fresh, healthy and delicious food," said Jim Sud, executive vice president of growth and business development. "When it opens, this will be one of the latest and greatest stores that Whole Foods has to offer and we are pleased to demonstrate our ongoing commitment to the Seattle community by being an integral part of what we believe will be a premier and truly outstanding development project."

Bounded by Westlake Avenue, Denny Way, Terry Avenue, Lenora Street and 9th Avenue, the development will also include a large, European-inspired central courtyard. The residential portion of the project consists of 261 condominium homes, including 33 luxury units located at the crown of the hotel and the balance located in two 11-story residential towers and in townhomes fronting Lenora and Ninth Street. More information about homes for sale at 2200 Westlake is available at www.2200Westlake.com.

The new 5,700-square-foot Bank of America branch banking center will feel more like a retail establishment than a traditional bank, with bank associates on the sales floor rather than behind desks, and the latest design features and technologies.

"The new layout and design demonstrate the intense focus we are placing on our customers," said Marie Gunn, president, Bank of America, Washington.

CollinsWoerman is the lead architect for the project, Hirsch Bedner Associates is the architect for the hotel, Weber+Thompson is the interior design firm for the condominiums and Turner Construction Company is the general contractor.

Vulcan owns nearly 60 acres in South Lake Union. Its vision for the area is to partner with the community to foster a vibrant, connected neighborhood that blends new housing development with retail, office, biotech research space, open space, public transportation, culture and education.

Vulcan delivered approximately 400,000 square feet of space in 2004 and expects to complete another 200,000 square feet by year end. Its projects in South Lake Union include the Alcyone--a 162-unit apartment building; 223 Yale--a 362,500 mixed-use residential/office project that will be the future headquarters for architecture firm NBBJ; 307 Westlake--the home of Seattle Biomedical Research Institute and Children's Hospital Research Center; 428 Westlake--the future home of retailer Tommy Bahama; Interurban Exchange III--the home of Rosetta Inpharmatics/Merck; and the UW Medicine Lake Union research campus, which may potentially consist of more than 800,000 square feet.

Vulcan also recently agreed to sell two acres in South Lake Union to Pacific Retirement Services, Inc., which will build 400 premier senior housing units.

Milliken has a long history of successful mixed-use urban developments, including the Harvard Market at East Pike and Broadway, the Marketplace at Queen Anne at 1st Ave and Mercer and TriBeCa at 17 West Mercer.

About Pan Pacific Hotels and Resorts
Pan Pacific Hotels and Resorts is a Singapore based company, which currently encompasses 23 hotels including 15 managed properties and 8 marketing affiliates, located in 11 countries in Asia, the Pacific and North America. In North America alone, Pan Pacific boasts such award-winning properties as the Five Diamond Pan Pacific Vancouver, the highly celebrated Mauna Lani Bay Hotel & Bungalows, the service innovator Pan Pacific San Francisco and Pan Pacific Whistler, located in North America's number one ski destination. In addition, Pan Pacific currently has another hotel under construction in Whistler, B.C. and the company is working on several other new development projects as well. For more information about Pan Pacific and the individual properties, please log on to www.panpacific.com.

About Whole Foods Market
Founded in 1980 in Austin, Texas, Whole Foods Market (www.wholefoodsmarket.com) is the world's largest natural and organic foods supermarket and America's first national certified organic grocer. In fiscal year 2003, the company had sales of $3.1 billion and currently has more than 160 stores in the United States, Canada, and the United Kingdom. The Whole Foods Market motto, "Whole Foods, Whole People, Whole Planet"(TM) captures the company's mission to find success in customer satisfaction and wellness, employee excellence and happiness, enhanced shareholder value, community support and environmental improvement. Whole Foods Market, Harry's Farmers Market(R), and Fresh & Wild(R) are trademarks owned by Whole Foods Market IP, LP. Whole Foods Market employs more than 30,000 team members and has been ranked for seven consecutive years as one of the "100 Best Companies to Work for" in America by Fortune magazine.

About Bank of America
Bank of America is one of the world's largest financial institutions, serving individual consumers, small businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 33 million consumer relationships with 5,700 retail banking offices, more than 16,000 ATMs and award-winning online banking with more than ten million active users. Bank of America is the #1 Small Business Administration lender in the United States. The company serves clients in 150 countries and has relationships with 96 percent of the U.S. Fortune 500 companies and 82 percent of the Global Fortune 500. Bank of America Corporation stock (ticker: BAC) is listed on the New York Stock Exchange.

About Milliken Development Group.
Milliken Development Group develops inclusive, progressive communities that revitalize metropolitan neighborhoods in the Pacific Northwest. The organization's focus since 1990 has been to plan and develop mixed-use communities that have a strong retail component at their core. Previous Seattle-area projects include the Marketplace at Queen Anne , The Harvard Market, and TriBeCa, a mixed-use project in Seattle's Queen Anne neighborhood featuring 51 high-end condominium homes. Milliken Development Group projects are unique in offering residents of close-in Seattle neighborhoods comprehensive solutions to their neighborhood shopping needs, and are equally unique in providing retailers high-quality urban environments with well-managed pedestrian and vehicular circulation. The company strives to create active and engaging shopping, living and working environments that energize their immediate neighborhoods and add value to the properties that surround them. For more information about Milliken please visit www.millikendevelopments.com.

About Vulcan Inc.
Vulcan Inc. creates and advances a variety of world-class endeavors and high-impact initiatives that change and improve the way people live, learn, do business and experience the world. Founded in 1986 by investor and philanthropist Paul G. Allen, and under the direction of president and CEO Jody Patton, Vulcan oversees various business and charitable projects including real estate holdings, investments in more than 40 companies, from Charter Communications, DreamWorks SKG and Digeo Broadband to Sporting News, the Seattle Seahawks NFL and Portland Trail Blazers NBA franchises, First & Goal Inc., Vulcan Productions, the Seattle Cinerama theatre, Experience Music Project, Science Fiction Museum and Hall of Fame and the Paul G. Allen Foundations. For more information about Vulcan, please visit www.vulcan.com.