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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Herb Duncan who wrote (11051)	6/2/1998 1:35:00 PM
From: SofaSpud	Respond to of 15196

CORP. TOP 20 LISTED / New Digs for Talisman TRIZECHAHN ANNOUNCES THE START OF CONSTRUCTION ON BANKERS HALL WEST TOWER TORONTO, June 2 /CNW/ - TrizecHahn announced plans today to begin construction of the 50-story Bankers Hall West Tower in Calgary, Alberta at an additional cost of C$170 million (US$120 million). This 800,000 square foot building represents the second and final phase of the 2.1 million square-foot office and retail complex, started in 1986. Construction will commence in July, 1998, with completion scheduled for Spring 2000. ''Development is a key component of our growth strategy. We approach real estate from a market-by-market perspective, acquiring when the market is still below replacement costs and building when it is warranted,'' said Gregory C. Wilkins, President and Chief Operating Officer of TrizecHahn Corporation. ''We are building Bankers Hall in response to the current strong demand in Calgary for high-quality office space, as evidenced by a 4% vacancy rate in that market. We have satisfied our internal pre-leasing requirements, which gives us the comfort we need to proceed. We also have a competitive advantage in the market, because the foundation and parking for this building were constructed during Phase 1.'' Talisman Energy Inc. will vacate its existing premises in the East Tower of Bankers Hall and two other nearby buildings to become the anchor tenant for the new tower, occupying a minimum of 340,000 square feet of office space upon completion. With other pre-leasing activity currently under way, the majority (10 floors) of Talisman's existing East Tower premises will be occupied by a new, high credit-quality tenant, with the balance of the space (3 floors) reserved for the East Tower's other expanding tenants, bringing the East Tower back up to its current, effectively full, status. The West Tower will utilize the latest technologies in mechanical, electrical and life-safety systems to ensure the highest level of tenant safety and comfort. For example, fresh air will be provided through a sophisticated four-pipe overhead induction system at the rate of 40 cubic feet per minute per person, twice the industry standard. The watts per square foot available to tenants for their own power usage will be increased by 40% over the industry average. Column-free rectangular floor plates, averaging 20,000 square feet, offer maximum space efficiency and flexibility in creating and modifying office environments. Ceiling heights have been increased to give tenants the option of installing raised-floor environments. TrizecHahn is a major integrated real estate operating company with ownership interests in 114 properties comprising 73 million square feet, which includes 20 retail properties currently under contract for sale and scheduled to close later this year. It owns, develops and manages office buildings in the United States, Canada and Europe. Through its development unit, TrizecHahn also identifies and executes retail/entertainment and office development projects in North America and abroad. TrizecHahn shares and warrants trade on the New York, Toronto and Montreal stock exchanges under the symbol TZH. -30- For further information: Contact: Tabb Davis, Vice President, Investor Relations & Corporate Communications, (416) 682-8628