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WRISTEN AWARDED CHB DESIGNATION

Press Release ~ January 2002

AUSTIN, TEXAS - Bert C. Wristen, President of PARVENIR Properties, Inc. has been awarded the Certified Hotel Broker (CHB) designation by Hotel Brokers International (HBI) and Cornell University. The designation was awarded January 13th during the HBI Annual Winter Conference in Orlando, Florida.

The CHB program is comprised of three educational modules and is the real estate industry's only certification for hotel brokerage. It is highly respected within the hotel industry. "When we seek to divest or acquire a hotel property, we prefer to work with individuals who hold the Certified Hotel Broker designation", stated Alan Tallis, President and CEO of La Quinta Inns, Inc.

CHB candidates complete coursework in hotel economics, investment analysis, sales strategy, marketing, information technology, and hotel brokerage administered through HBI and Cornell University's Professional Development Program. In addition to the educational requirements, candidates must successfully complete oral and written examinations as well as deliver a presentation before a panel of judges who evaluate their listing presentations, property packaging and sales skills.

Mr. Wristen is a 10-year veteran hospitality specialist, as well as a Certified Commercial Investment Member (CCIM).