For immediate release

HOMEWOOD, IL (August 2008) — Graycor Construction Company Inc. (Graycor Construction), a subsidiary of the Graycor family of companies, proudly announces the completion of two class A office refurbishments: Woodfield Pointe Office Center in Schaumburg, Ill., and the East West Tech Center in Naperville, Ill.

“In our current economic situation we are not seeing a lot of new office construction,” says Bill Sanchez, project manager for Graycor Construction. “Coming up with innovative and creative cost savings solutions without losing quality was critical in upgrading these buildings.” The physical transformation from class C to class A office space involved renovating and installing modern, high quality building materials including new stone flooring and a glass curtain wall, dramatically changing the look of the façade and inner spaces.

Graycor Construction was awarded the projects by Keystone Property Group, a real estate services provider that acquires, develops and manages commercial real estate in the office, flex and industrial sectors. The architect for both renovations was Risinger, Schmitt & Associates.

“Graycor met and exceeded our expectations on both projects, successfully handling the challenges and completing construction on scheduled dates,” says Brian Lauck, regional director for Keystone. “The demo work on the Woodfield Pointe Office Center was completed in a quarter of the time we estimated during the worst winter conditions Chicago has seen in years.”

The Woodfield Pointe Office Center is an 11-story building located at 231 N. Martingale Rd., in Schaumburg, Ill., that served as an old IBM data center. Renovations included replacing the exterior surface of the existing building and installing a new glass curtain wall, as well as other upgrades to modernize the facility. Renovations to the building began in the winter of 2007/08, providing many challenges including cross winds and other weather-related safety concerns. Graycor Construction maintained their impeccable safety record and sustained no injuries during the project, which was completed in July 2008. Graycor Construction was awarded the interior lobby renovation of the Woodfield Pointe Office Center, also from Keystone Property Group, and it is currently under construction.

The East West Tech Center, located in Naperville, Ill., is comprised of two buildings, 1751 W. Diehl Rd. and 1771 W. Diehl Rd., near Route 59 and Interstate 88. The multi-tenant building required upgrades for high-end users. Renovations included a three-story curtain wall entrance, new windows, reconstruction of the parking lot, stone flooring, accent millwork wood panels, and custom light fixtures. All work was done while the building was 90% occupied, and was completed in May 2008.

About Keystone Property Group

Keystone Property Group acquires, develops and manages commercial real estate in the office, flex and industrial sectors. As a vertically integrated real estate organization, Keystone manages private equity funds, which invest in opportunistic real estate projects that are well located, but underperforming, undercapitalized and/or functionally obsolete. Keystone applies a focused, strategic investment plan to each opportunity, which in turn drives its success in delivering superior value to all stakeholders.

About Graycor Construction Company Inc.

For five decades, Graycor Construction Company Inc. (Graycor Construction) has been a leader in managing and constructing mid- to large-scale commercial projects across the United States, Canada and Mexico. The company has earned a reputation for its ability to develop intimate knowledge of its clients’ project needs and to translate that knowledge into consistently and successfully completing renovation and ground-up projects coast to coast. From pre-construction planning through final project delivery, Graycor Construction’s management team utilizes its extensive knowledge of commercial markets to deliver real value across the board on each and every project. Graycor Construction serves a select group of clients across a full spectrum of commercial markets across North America.

About the Graycor Companies

The Graycor companies – Graycor Industrial Constructors Inc., Graycor Construction Company Inc., Graycor Blasting Company Inc., and Graycor International – provide a wide variety of industrial and commercial construction services, as well as industrial maintenance technologies, across North America. As a top ranking industry leader with annual revenues in excess of $600 million, Graycor commits to safe working environments, demands excellence and rewards passion. Established in 1921, Graycor employs more than 1,500 construction specialists at the Chicago headquarters, regional offices and project locations across the United States, Canada and Mexico. For more information on the Graycor family of companies, visit www.graycor.com or call 1-800-455-0440.