Carlson Properties Achieved “A List” Award Status

October 20, 2003 (Minnetonka, MN): Carlson Real Estate Company is pleased to announce two new leases signed within Carlson Center.

Marketing Architects, Inc. has signed a lease for 11,223 square feet at 301 Carlson Parkway in Minnetonka, MN. Jefferson Pilot Financial Insurance Company has signed a lease for 2,226 square feet at One Carlson Parkway in Plymouth, MN.

Marketing Architects (www.MarketingArchitects.com) is the nation's leading media company specializing in radio advertising. It provides full-service direct response radio marketing services including media planning, buying, analysis, creative, production, and telemarketing setup. Marketing Architects was represented by Tom Immen and Jill Rasmussen of Northco. Carlson Real Estate Company was represented by Jim Freytag and David Marschinke of CB Richard Ellis.

Jefferson Pilot Financial (NYSE: JP) is one of the nation's leading providers of fixed and variable universal life insurance and fixed annuities. Their headquarters isare in Greensboro, NC. In this transaction, Jefferson Pilot Financial was represented by Bryan Beltrand of Welsh Companies. Carlson Real Estate Company was represented byCompany's representatives were Jim Freytag and David Marschinke offrom CB Richard Ellis.

The addition of these companies to Carlson Center brings 301 Carlson Parkway to 96% leased and One Carlson Parkway to 90% leased. Carlson Real Estate Company has office space available in Carlson Center ranging from 2,000 to 55,000 square feet of contiguous space. Carlson Real Estate Company (www.carlsonrealestate.biz) is a Minneapolis-based limited partnership owned by the Curtis L. Carlson family. Carlson Real Estate Company's long-term ownership perspective provides a foundation for lasting tenant-landlord relationships. Carlson Real Estate Company's portfolio of office and industrial properties concentrated in Minnesota and Arizona exceeds 5 million square feet.