Deborah Walters — Vice President, Chief Financial Officer

Ms. Walters joined Related Midwest in 1995. She worked as the Assistant Comptroller from 1995 to 1997, the Comptroller from 1998 to 2000 and the Vice President of Corporate Finance from 2001 to 2004. Ms. Walters has been responsible for the development of financial reporting systems, the preparation of tax returns and financial statements, the projection of cash flows and liquidity, and the daily management of the accounting department. She was also instrumental in the development of an in-house computer system used in the design and construction process.

Prior to joining Related Midwest, Ms. Walters worked at Deloitte and Touche, LLC in the Audit Services department for three years. Her audit engagements focused primarily on the real estate and services industries.

Ms. Walters graduated magna cum laude from Carleton College with a B.A. in Russian and graduated with distinction from DePaul University with a M.S. in Accounting. She became a Certified Public Accountant in 1993.

Ms. Walters is currently a member of CREW – Commercial Real Estate Executive Women.

Cynthia Dietz — Controller, Affordable & Corporate Finance

Since joining Related Midwest in 2000, Ms. Dietz has been responsible for the affordable housing division accounting. Her responsibilities include oversight of the rental property portfolio and accounting for the Affordable Housing developments including the predevelopment and construction periods. She is also responsible for the accounting for the development and operations of The Arcade in Cleveland, Ohio, and the development of the condominium building at Sixty West Erie in Chicago. Ms. Dietz will also be handling the accounting and financial reporting for the ABLA rental and for sale development beginning in 2003.

Prior to joining Related Midwest, Ms. Dietz worked with Altschuler, Melvoin and Glasser where she was assigned as Controller for the Town of Fort Sheridan development. There she handled all accounting and financial analysis functions for the infrastructure improvements, marketing, and the master developer entities. Prior to working for Altshuler, Melvoin and Glasser, Ms. Dietz worked for The Habitat Company for eight years where she managed the daily accounting functions for the residential rental management company, commercial properties, and other related entities.

Ms. Dietz earned her B.S. Accountancy degree from DePaul University, and is a Certified Public Accountant.

Legal

Ms. Guon joined Related Midwest in 1996. At the firm she supervises the Closing Department and oversees all aspects of the “contract through closing” process for the Residences on Lake Shore Park, Sixty West Erie and Park Tower. She is also involved in assisting in legal and real estate tax matters and in the acquisitions and financing of projects. She has also been involved in Fort Sheridan, Cinema Lofts, The Mayfair, The Regent, Baypoint, Tower Lofts, and many of the firm’s affordable housing projects.

Before joining Related Midwest, Ms. Guon worked for a full-service local real estate developer where she was responsible for the developer’s closings. She also worked for Goldstein & Lamb where she gained experience in both real estate and corporate law. Ms. Guon also worked as a paralegal in the corporate group of Sidley & Austin, a national law firm.

Ms. Guon graduated from the University of Kansas with a B.A. in Economics and from Roosevelt University Lawyer’s Assistant Program with honors. She is a member of the Illinois Paralegal Association.

Information Technology / Human Resources

Mr. Krandel joined Related Midwest in 1991. He currently supervises and maintains Related Midwest’s LAN/WAN of 80 users in a Microsoft 2000/NT server environment in four remote locations, supervises software development and support and training, office telephone systems and portable phone services. In addition to his IT responsibilities, he supervises and coordinates the company administrative staff, human resources and payroll processing. From 1991 to 1998 he acted as Controller/VP of Finance responsible for all aspects of accounting including construction draws, preparation of financial statements and tax returns on all Related Midwest development projects and all corporate and administrative entities. From 1992 to 1994, Mr. Krandel acted as the Controller for Prism Mortgage Company (now known as RBC Mortgage), a related entity.

Prior to joining Related Midwest, Mr. Krandel was the Controller for The Himmel Corporation, a commercial and residential real estate development and management company. He also spent six years in the audit department of Altschuler, Melvoin & Glasser, a Chicago based public accounting firm, where he specialized in the manufacturing and construction industries.

Mr. Krandel received a Bachelor’s of Science degree in Accounting from the University of Illinois. He is also Certified Public Accountant.

Shari Kaminsky — Information Systems Design Specialist

Ms. Kaminsky joined Related Midwest in 1998. Since then, she coordinated the design, development, implementation, training and support of the company information database. Under her leadership, the information database has been implemented in all areas of Related Midwest’s business including accounting, legal, construction, sales and inventory. Additionally, she has coordinated the integration of a third-party Web-based purchaser selection tool for The Pearson project, managed the development of the company Intranet Information Portal and provides support and training for multiple software disciplines. She is currently coordinating the development of the ABLA Homes project management website. She has also been responsible for developing and managing the Inventory Department at Park Tower before dedicating her full time to system design and development.

Ms. Kaminsky graduated with honors from the University of Illinois with a Bachelor of Science degree in Architectural Studies and a dual Master of Architecture/Master of Business Administration degree.

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