WASHINGTON, July 18 /PRNewswire-FirstCall/ -- CarrAmerica today announced its executive management team following the close of the merger with an affiliate of The Blackstone Group on July 13, 2006. (Logo: http://www.newscom.com/cgi-bin/prnh/19990820/CRELOGO ) Management Team Christopher Peatross, Chief Executive Officer (former Managing Director for Northern California) Kurt Heister, Chief Financial Officer (former Senior Vice President & Controller) Jeff Pace, Managing Director - Austin, Chicago, Dallas, Denver, Salt Lake City Malcolm O'Donnell, Managing Director - Southern California Clete Casper, Managing Director - Seattle, Portland Phillip Thomas, Managing Director - Metropolitan Washington, D.C. Bill Simpson, Chief Information Officer Ken Simmons, Senior Vice President of the Washington, D.C. Development Group Howard Weissman, Controller (former Vice President & Assistant Controller) Christopher Peatross commented, "With this talented group of professionals in place, we are excited to move forward as a private company. The transition from a public company will enable us to be more flexible and opportunistic in our approach to investments. The prior management team, led by Tom Carr and Phil Hawkins, established an excellent platform and reputation that we plan to continue." Mr. Peatross added, "Our operations team will remain focused on 'business as usual': providing our tenants with first-class, professional service." About CarrAmerica CarrAmerica owns, develops and operates office properties in 12 markets throughout the United States. The company has become one of America's leading office companies by meeting the needs of its customers with superior service, a large portfolio of quality office properties and extraordinary development capabilities. Currently, CarrAmerica and its affiliates own, directly or through joint ventures, interests in a portfolio of 275 operating office properties, totaling approximately 24.8 million square feet. CarrAmerica's markets include Austin, Chicago, Dallas, Denver, Los Angeles, Orange County, Portland, Salt Lake City, San Diego, San Francisco Bay Area, Seattle and metropolitan Washington, D.C. For additional information on CarrAmerica, including space availability, visit our web site at http://www.carramerica.com/. About The Blackstone Group The Blackstone Group, a global private investment and advisory firm with offices in New York, Atlanta, Boston, Los Angeles, London, Hamburg, Mumbai and Paris, was founded in 1985. Blackstone's real estate group has raised approximately $13 billion for real estate investing and has a long track record of investing in office buildings, hotels and other commercial properties. In addition to Real Estate, The Blackstone Group's core businesses include Private Equity, Corporate Debt Investing, Marketable Alternative Asset Management, Mergers and Acquisitions Advisory, and Restructuring and Reorganization Advisory. Information relating to The Blackstone Group can be accessed on the Internet at http://www.blackstone.com/. http://www.newscom.com/cgi-bin/prnh/19990820/CRELOGO http://photoarchive.ap.org/ DATASOURCE: CarrAmerica Realty Corporation CONTACT: Maureen C. Wheeler of CarrAmerica, +1-202-729-1756, or Web site: http://www.carramerica.com/

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