STEPHEN P. HOULE

Mr. Houle joined The Chiofaro Company in 1997 and has overall responsibilty for accounting, financial management, reporting systems and administration. His other duties relate to partnership and mortgage lender relationships and cash management. In his role as the company's Chief Financial Officer, he has represented ownership of International Place and the Harbor Garage in the financings and refinancings of both properties, the acquisition of the Harbor Garage and the recapitalization of International Place. Similarly, he has represented The Chiofaro Company in the acquisition, financing and disposition of suburan office properties. He is currently managing the financial aspects of the Harbor Garage redevelopment.

Prior to joining the Chiofaro Company, Mr. Houle was a Vice President in the Portfolio Management Group at AEW Capital Management, L.P. Mr. Houle has over 20 years of financial experience in real estate. He began his career with the Big-6 public accounting firm, KPMG Peat Marwick, focusing on the real estate industry. Mr. Houle obtained the Certified Public Accounting designation in 1987. He graduated from Babson College with a Bachelor of Science degree in Accounting in 1984. Mr. Houle resides in Boston and Paris with his husband and dog.