December 1999

Dulles, VA - Lerner Enterprises, broke ground today on the Dulles Courtyard, Marriott's moderately priced lodging product. The 156 room hotel will be located in Dulles Town Center at Routes 7 and 28 in Dulles, Loudoun County, Virginia.

The hotel will be built by Herman/Stewart Construction of Lanham, Maryland. Lerner Enterprises of North Bethesda, Maryland will own and develop the project and Marriott Lodging of Bethesda, Maryland will manage the hotel for the owner.

Once complete the Dulles Courtyard will employ 40 to 45 full and part-time local employees. Hotel amenities include indoor swimming pool and whirlpool spa, a fitness center, two meeting rooms, a restaurant serving a delicious breakfast buffet and a quiet lounge. The hotel is scheduled to open by the fall of 2000.

The Dulles Courtyard is located within Dulles Town Center, a 554 acre mixed-use project now under development in Dulles, Virginia. The project will include:

• Dulles Town Center Mall, a 1.2 million square foot super-regional mall which opened in April, 1999.

• 1,100 residences including Colonnade Townhomes, Remington, a 406 unit luxury apartment home community now under construction and a future 400 unit apartment community.

• 4.5 million square feet of office space known as The Corporate Office Park at Dulles Town Center.

• A KinderCare Learning Center opened in May, 1999.

• A 30 million dollar road network is complete.

Since, 1983, when the first Courtyard opened, the hotel brand has grown to over 450 Courtyard hotels, including more than 415 nationwide and 34 in Australia, Canada, China, France, Germany and the United Kingdom.

Lerner Enterprises , founded by Theodore N. Lerner, is one of Washington, D.C.'s largest real estate developers and is involved in all phases of commercial and residential real estate including planning, development, construction, leasing, asset management and property management. The company's hotel portfolio also includes the Greenbelt Marriott Hotel and Conference Center in Greenbelt, Maryland.