LATHAM (July 29, 2002)

Health Plan Joins Growing List of Tenants at Expanding Office Complex
Off Route 9

First Columbia, a commercial real estate development company and part of the Bette Family Companies, welcomed close to 400 employees of BlueShield of Northeastern New York today to its new leased office space at 30 Century Hill Plaza.

"Our original completion date was very aggressive," said Matthew Bette, President of Bette & Cring LLC, the project's construction firm. "We are very pleased our design-build team was able to deliver this technologically advanced facility ahead of schedule, in only 22 weeks from steel delivery."

"Everyday thousands of commuters watched this project evolve," said Deborah Mikhitarian, Partner of First Columbia. "It couldn't have been smoother due to the excellent cooperation of both BlueShield and the Town of Colonie."

Leslie Baker, BlueShield's Vice President of Sales and Marketing, said the company has grown rapidly over the past four years with the introduction of several new products, including
Health Now Flex, a successful HMO product. Many government products have also been added, including Senior Blue, a Medicare HMO; Child Health Plus; and Health Now Care, a Medicaid HMO.

"In the years to come, we need to be well positioned to handle continued growth and success," said Baker. "We chose 30 Century Hill Plaza because it will be able to accommodate both our current and future needs."

Baker said Century Hill Plaza offers the company increased visibility, improved conference/training space, sole tenant status, expanded parking capacity and a larger cafeteria. A fiber optics telecommunications network has also been included at Century Hill Plaza to accommodate high-speed Internet access and enable BlueShield to receive or broadcast programs via video conferencing. BlueShield will realize cost savings through this move due to lower leasing fees and increased operational efficiencies.

30 Century Hill Plaza is the third building at the office complex located on Century Hill Drive in Latham. The first building, 26 Century Hill Plaza, was completed in 2000. New York Life, the nation's largest mutual insurance company, is the building's anchor tenant and occupies the entire third floor. Other companies with office space in the building include: First Columbia; NORESCO, a national energy services company based in Westborough, MA; and, two other Fortune 500 firms - General Electric and St. Paul Fire & Marine Life Insurance Company.

Last December, the New York State School Boards Association (NYSSBA) moved its headquarters to 24 Century Hill Plaza. Construction on NYSSBA's three-story, 45,000 square-foot building began in June 2001 and was completed by the end of December.