May 2006

JOHN PORTMAN & ASSOCIATES AWARDED 7.4 MILLION SQUARE FOOT MIXED USE PROJECT
Qingdao Red Dragon project to add to the appeal of charming Qingdao, China

ATLANTA, GA May 2, 2006 - John Portman & Associates, Inc. (PORTMAN) is happy to announce the signing of an agreement with the Pan-Am Realty & Investment group of Seoul, Korea for the design of the Qingdao Red Dragon project, a 7.4 million square foot mixed use project on a nearly 35-acre site in Qingdao, China.

It has been said that the beauty of Qingdao comes from the perfect integration of the mountain, the sky, the sea and the city. PORTMANs vision for the Qingdao Red Dragon project is the perfect integration of residential, office, retail and recreation facilities to create a successful live-work-play environment.

Grace Tan, President of John Portman & Associates, explains, Early plans call for a program of hotel, serviced apartments, officetel (a blend of office and living space), office, shopping and entertainment, supported by ample below-grade parking. It will be a pedestrian-friendly development of broad appeal. With a something for everyone attitude, the complex includes everything from a 5-star hotel with luxury shops and fine dining to quaint storefront shops and vendor carts.

The development will be anchored by unique destination areas. One anchor area will be Wedding Town, a one-stop spot for brides, grooms and their families to find everything they need to host the wedding of their dreams from chapels and reception halls to tuxedo rental and beauty salons, and even a travel agency to help arrange a custom honeymoon. Other anchors include a large department/grocery store, an arcade with high tech games and cinemas, and a retail mall.

Once the program is finalized, design will begin right away. With a very ambitious schedule, it is anticipated that the complex will open in 2010.

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