DANIEL CORPORATION AND SELIG ENTERPRISES, INC. ANNOUNCE

ATLANTA, GA - Daniel Corporation and Selig Enterprises, Inc. today announced development plans for The Plaza Midtown, a 20-story, 550,000-square-foot mixed-use development featuring 452 high-rise residential condominiums in two towers, and 70,000 square feet of retail, dining and entertainment space. The 3.3-acre site encompasses an entire city block from Eighth Street to Peachtree Place between Spring and West Peachtree Streets and is directly accessible to the I-75/I-85 connector. The Plaza Midtown is strategically located between the Midtown MARTA station and Georgia Tech's much-heralded Technology Square. Construction for The Plaza Midtown is slated to begin in September 2004 with first units available in first quarter of 2006.



Complementing and enhancing the Midtown skyline, The Plaza Midtown's reflective glass construction has the urban audience in mind while capitalizing on the pristine views of Midtown, Downtown, Buckhead, Stone Mountain and Greater Atlanta. Featuring one-bedroom and two-bedroom floor plans, units start in the $180,000's and boast hardwood floors, granite countertops, 10-foot ceilings, floor-to-ceiling windows, garden tubs and expansive balconies. With security and safety in mind, access from the 881-space parking deck utilizes a keyless entry system with secured elevator lobbies. The complex's state-of-the-art living also includes a large clubroom, fitness center and deck-top plaza, offering a park setting in the sky and a signature swimming pool with ample open and gathering space.



Highlighting The Plaza Midtown's streetscapes is 70,000 square feet of ground-level retail space. Publix Supermarket, a Fortune 500 company, will anchor the retail space, occupying 33,600 square feet along Spring Street and rolling out a new urban "market" concept featuring gourmet take-out, an extensive wine selection and fresh sushi along with traditional grocery items. Remaining retail space of over 35,000 square feet will offer boutique shopping, restaurants and entertainment, supported by deck parking.



The Plaza Midtown development draws from the strengths and expertise of the two teams. This development marks Daniel and Selig's first venture together. Daniel will develop the residential component and Selig will own, lease and manage the retail component. Morris and Raper Realtor, Inc., in conjunction with Marketing Results, will handle the sales and marketing of the 452 residential units.



"Midtown is where we want to be," said Daniel Corporation's President Allan Worthington. "The synergy and market growth in this area is drawing urban professionals and development to the region, and we want to be a part of it with The Plaza Midtown."



"We are proud to have the opportunity to be involved with Selig in such a dynamic market as Midtown," continued Worthington. "Selig's retail expertise will make certain that condo residents will have a excellent mix of dining, entertainment and retail amenities." concluded Worthington.



"This is an exciting development for Selig," said Selig Enterprises CEO Steve Selig. "Midtown is quickly becoming the preferred address for Atlanta's up and comers. The Plaza Midtown is designed to meet and exceed the needs for the busy, in-town savvy customers," concluded Selig.



Both Worthington and Selig agree The Plaza Midtown offers what every major city dreams of: the ability to walk to work, walk to shop, walk to dine and live safely and affordably.



ABOUT THE DEVELOPMENT TEAM



About Daniel Corporation
Daniel Corporation is headquartered in Birmingham, Alabama, with a regional office in Raleigh, North Carolina. Other offices include Charlotte, North Carolina, and Richmond, Virginia. Daniel is a full-service real estate organization engaged in the ownership, development, acquisition, management and leasing of commercial office, and various residential properties. Since its founding in 1964, Daniel has closed over three billion dollars in real estate transactions. A history of residential development includes multi-family, single-family and senior living projects totaling over 15,000 units. The development of over 6,000 acres of land also includes a 36-hole, nationally acclaimed golf course, Greystone Golf & Country Club. Daniel's commercial development and management of over 8,500,000 square feet of office space has included projects throughout the country, with a current concentration in the Southeast and Mid-Atlantic regions.



About Selig Enterprises, Inc.

For nearly a century, Selig Enterprises (www.seligenterprises.com) has maintained a commitment to excellence, dedicated to meeting the needs of its tenants as well as the community. Founded in 1918 by Ben J. Massell, Selig Enterprises' portfolio includes shopping centers, industrial complexes and office developments throughout the Southeast. The company provides leasing, development, acquisition, space design, construction, legal, property management, brokerage and accounting services for more than 250 properties. Under the direction of S. Stephen Selig III, Selig Enterprises is one of the largest privately held real estate companies in the Southeast.





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