BALTIMORE (February 16, 2006) – St. John Properties, Inc. has announced the initiation of
construction on Windsor Office Park, a 10-acre mixed-use business community located at the intersection of
Lord Baltimore Drive and Windsor Boulevard in Baltimore County. Upon completion, the park will feature two
office buildings offering approximately 63,000 square feet of space and two retail “pad site” locations that are
configured to support nearly 12,000 square feet of space. The corporate headquarters of St. John Properties is
positioned approximately one mile from this site on Lord Baltimore Drive.

Construction has begun on 7265 Windsor Blvd., a single-story 32,000 square foot flex/office
building, and 7275 Windsor Blvd. a second flex/office building that offers 31,200 square feet of space. Tenant
sizes beginning at 2400 square feet of space are available in each building, which are located off Beltway Exit 18
in Woodlawn and feature nine foot ceiling heights. The park is approximately eight miles from Towson, 10 miles
from downtown Baltimore and 20 miles from BWI Airport.

The pad sites are located on 2835 Rolling Road and 2845 Rolling Road and are suitable for
5000 square feet of retail space and 6500 square feet of retail space respectively. Suitable uses include a
restaurant, bank or full-service convenience store.

“Windsor Office Park is ideally suited for business services companies, firms with light
manufacturing/warehousing needs or standard office space users that desire a location just off the Baltimore
Beltway and with access to a comprehensive range of amenities,” explained Jerry Wit, the company’s Vice
President of Marketing and Leasing. “We are targeting fast-casual restaurant end-users, banks and convenience
stores for the retail sites that service both the employees working in local businesses and nearby residential
audiences,” he added.

As of year-end 2005, the St. John Properties portfolio was comprised of approximately 10
million square feet of space locally, featured a 97% occupancy rate and included more than 1500 tenants. The
total real estate investments of the company are valued at more than $1.1 billion.

Founded in 1971 as MIE Properties, Inc., St. John Properties, Inc. owns and has developed
more than 11 million square feet of flex, warehouse, office and retail space in Maryland, Colorado, Louisiana,
Virginia and Wisconsin. For more information about the company, visit www.stjohnproperties.com.

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For additional information,

Contact: Larry Lichtenauer, Lawrence Howard & Associates, Inc.

410-833-6205