TBI DEVELOPMENT ACQUIRES LANDMARK FIRST FRANKLIN PLAZA

TBI Development has acquired the prominent office building at 2150 North First Street known as First Franklin Plaza. The six-story, granite-clad building houses the corporate headquarters of First Franklin Financial Corp., a nationwide mortgage lender, as well as offices of Sprint Nextel Communications.

BRAD KROUSKUP NAMED PRESIDENT AND CEO OF TOENISKOETTER & BREEDING, INC. DEVELOPMENT

Brad W. Krouskup, who has been President of Toeniskoetter & Breeding, Inc. Development since 2001, has received the title and assumed the additional duties of Chief Executive Officer. Krouskup succeeds as CEO co-founder Charles J. Toeniskoetter, who remains Chairman of the Board.

BRAD KROUSKUP NAMED PRESIDENT AND CEO OF TOENISKOETTER & BREEDING, INC. DEVELOPMENT

SAN JOSE –- Brad W. Krouskup, who has been President of Toeniskoetter & Breeding, Inc. Development since 2001, has received the title and assumed the additional duties of Chief Executive Officer. Krouskup succeeds as CEO co-founder Charles J. Toeniskoetter, who remains Chairman of the Board.

“Brad and I have worked closely together for 25 years, and it was time he took over all the operating responsibilities for the company,” Toeniskoetter said. “We will work together on strategic planning, but Brad now manages all the daily activities.”

Relinquishing responsibility for operations frees Toeniskoetter to focus on development and acquisition strategy, as well as development of substantial interests in the all-seasons resort at Bear Valley in Alpine County. Toeniskoetter also is devoting time to three publicly traded corporations of which he is a director, San Jose Water Co. (NYSE), Redwood Trust, Inc. (NYSE), and Heritage Bank of Commerce (NASDAQ), and to the Stroke Awareness Foundation, which he co-founded in 2002.

Krouskup, 48, joined TBI Development shortly after its founding by Toeniskoetter, Dan Breeding and Steve Hallgrimson in 1983, and he has presided over the development of more than 3 million square feet of commercial, retail, medical and industrial building space. He was promoted to President from Executive Vice President in 2001.

Krouskup’s responsibilities include acquisition, development and management of all TBI’s investment properties. He is also responsible for a real estate portfolio that includes more than $300 million of commercial and industrial properties. The company is vigorously pursuing acquisition of prime commercial properties through a new equity partnership with Minneapolis-based Thrivent Financial for Lutherans, which is the world’s largest fraternal benefits society and a Fortune 500 financial services corporation with more than $65 billion in assets.

Krouskup graduated from the University of California at Berkeley in 1980 with a bachelor’s degree in urban economics, and from 1981 to 1983, he worked as a project development manager for Carl N. Swenson Construction Co. in San Jose. He joined newly founded TBI Development in 1983 as project development manager and was promoted to vice president the following year and executive vice president in 1991.

Krouskup is a member of the San Jose/Silicon Valley Chamber of Commerce and is active in the Association of South Bay Brokers. He also has served as a director of the National Association of Industrial and Office Parks and the Children’s Discovery Museum of San Jose.