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San Francisco, May 6, 2004
Successful termination of "Executory Real Estate Contract"

Steven R. Gerbsman, Principal of Gerbsman Partners, announced today that Gerbsman Partners successfully terminated the executory real estate contract for a US based life science company.

The privately held company, executed a lease for 29,000 square feet of space in Los Angeles, California. Due to market conditions, the company made a strategic decision to reduce its corporate space allocation. Faced with a potential contingent liability in excess of $ 12.3 million, the company retained Gerbsman Partners to assist them in the termination of the executory real estate contract.

Gerbsman Partners focuses on maximizing enterprise, stakeholder and shareholder value for under-performing, under-capitalized and under-valued companies and their Intellectual Property. In the past 36 months, Gerbsman Partners has restructured/terminated over $ 550 million of real estate executory contracts and equipment lease/sub-debt obligations and has also maximized stakeholder value for 19 technology and life science companies and their Intellectual Property. Gerbsman Partners has offices and strategic alliances in North America, Europe and Israel.

Gerbsman Partners
211 Laurel Grove Avenue, Kentfield, CA 94904
Phone: +1.415.456.0628, Fax: +1.415.459.2278
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