A Letter From our President and CEO

With an entrepreneurial approach set in an environment of empowerment, Transwestern team members take the lead in driving their success. Our market-centric way of doing business enables our leaders, producers and support staff to optimize results for our clients and in turn drive the success of the business. A national organization with service channels coast-to-coast, Transwestern has 1300 team members working collaboratively from the pillars that form the foundation of the Transwestern brand:

• Values
• Client Experience
• Unique Business Model
• Thought Leadership

These great people, many of whom have been with the firm for ten years or more, have made Transwestern's vision of success a reality. With each deal closed, every client relationship is strengthened, one transaction at a time.

Staying true to our core values, Transwestern's culture fosters mutual respect while rewarding achievement. The Transwestern client experience is also key. Superior service is vital to our continued growth. Due in part to this tireless commitment to add value, our client base has expanded considerably over the years. Our long-term client relationships, some twenty years or more in the making, are a testament to the level of service we provide. Finally, thought leadership inspires our team members to set the pace for excellence in our industry. Transwestern's thought-leading practices have earned us ENERGY STAR® Partner of the Year (2004, 2005) awards and four Sustained Excellence (2006 - 2009) awards from the Environmental Protection Agency (EPA). We are also working alongside the U.S. Green Building Council (USGBC) to earn Leadership in Energy & Environmental Design (LEED®) certification for our clients' properties. We believe a clear and directed vision for the future will allow us to meet and exceed our goals as a company.

In this way, careers continue to be built and
transformed - making Transwestern one of
the "Best Companies to Work For" according
to Texas Monthly Magazine for three
consecutive years, and recognized as one of
the "Top 25 Commercial Real Estate Brands" in
the U.S. by The Lipsey Company. We will
continue to recruit and retain the best in our
industry -- people with the intelligence, energy
and values that set our firm apart. In return we
offer a culture rich in opportunity and committed
to the growth and empowerment of our team
members.

Thank you for your interest in Transwestern.

Best personal regards,

Larry P. Heard President and Chief Executive Officer Transwestern