PHILADELPHIA, PENNSYLVANIA

The National Railroad Passenger Corporation ("Amtrak") is a private corporation which operates the national passenger rail system. Amtrak owns 30th Street Station, Philadelphia's grand railroad terminal and the central point in the nation's second busiest intermodal transportation network. Following the 1991 renovation of the Station and the significant improvements to the surrounding infrastructure completed in the late 1990's, Amtrak's Real Estate Development Department launched a renewed effort to develop its 50 acre tract of land north of the Station (the "Air Rights Development"). This land has, since the 1970's, been considered as the largest land-development opportunity in Philadelphia.

Since retaining Aegis Property Group in 1998, development of the following projects, mostly with private sector capital, has allowed Amtrak to obtain value from its land and to create assets that improve the safety and satisfaction of its passengers at this essential Station in Amtrak's Northeast corridor.

• A 1,500 space Parking Garage and related Improvements, which began in 2003 and opened in 2004. This facility was financed by a $50 in million tax-exempt bonds issued
  by PEDFA.
• A 727,000 s.f. Class A office tower which began construction in 2004 and is scheduled for occupancy in the fall of 2005. This $200 million project is owned and developed by Brandywine Realty Trust.
• Pedestrian Bridge and Arch Street Improvements linking the Station to the above developments. These projects are 80% funded by the Federal Highway Administration's
  TEA-21 program.