ERIC SWANSON DIRECTS BROE LAND COMPANY; NEW SENIOR VICE PRESIDENT TO LEAD LAND ACQUISITION EFFORTS

- Real Estate Expert Led LandBank Group Inc.
- In Acquisition, Redevelopment, Disposition of Brownfield Properties

Denver, Colorado, November 3, 2004: Broe Real Estate, an affiliate of The Broe Companies, has announced that Eric Swanson has been named Senior Vice President of The Broe Land Company. Mr. Swanson is one of the nation’s most successful real estate executives, having worked in Colorado, Florida and the southeast United States.

In this position, Mr. Swanson will direct all North American efforts of the company to acquire land, in particular those related to transportation and railway applications. While the scope of Mr. Swanson’s work includes all of North America, in 2005 he will focus much of his efforts on identifying opportunities in northern Colorado. As an example, in June 2004, two of The Broe Companies affiliates, Broe Real Estate and OmniTRAX (North America’s largest private, rail operation), collaborated to help win the new Owens-Illinois bottling plant for Windsor, Colorado.
 
“Bringing a land and real estate expert of Eric’s caliber to our team will have a major, positive impact on achieving our aggressive expansion goals in northern Colorado and elsewhere,” comments Chris Matthews, EVP, Broe Real Estate. “We see tremendous potential for further unifying and leveraging our transportation/rail and real estate/land capabilities.”

Prior to joining the Broe organization, Mr. Swanson was Senior Vice President of the LandBank Group Inc., located in Centennial, Colorado. Mr. Swanson directed development, marketing, sales, financing, leasing, management and construction of multi-million dollar, high-profile industrial, commercial and retail projects. He has extensive experience in the acquisition, redevelopment and disposition of “Brownfield” properties.  Previous to LandBank, Mr. Swanson spent seven years as a senior real estate executive at the Codina Group Inc. in Coral Gables, Florida.  Prior to this, he was with Koger Properties Inc. in the southeast United States for eight years.

Mr. Swanson can be reached at his direct phone line, 303-398 0517, or at eswanson@broe.com.

About The Broe Companies: The Broe Companies is a 32-year old, international investment, acquisition, and operational enterprise headquartered in Denver, Colorado.

The company is involved in an expanding and diverse array of businesses and industries including: Transportation, featuring OmniTRAX, the largest private rail and rail- related operation in North America; Strategic Capital, including McKinley Medical, a global supplier of innovative drug infusion systems; Real Estate, incorporating the ownership and operation of premier office and industrial properties throughout North America; and Aspen Retirement Communities, which owns and operates independent and assisted living communities across the United States, with eight communities and nearly 1,400 units.

Broe seeks to engage with qualified business people to discuss possible acquisition of, investment in, or operational affiliation with a company or other assets.

Media Contact:
Michael Burke
Vice President, Corporate Communications
303-393-0033 (Office); 303-883-6551 (Mobile)
mburke@broe.com