Founding Committee John Bucksbaum General Growth Properties James DeFrancia Lowe Enterprises Commu- nity Development Stuart Gabriel USC Lusk Center for Real Estate James Klingbeil The Klingbeil Company Richard Peiser Harvard Design School Stanley Ross Ernst & Young USC Lusk Center for Real Estate | 331 Lewis Hall | Los Angeles, CA 90089 | P: 213.740.5000 | F: 213.740.6170 Real Estate Academic Initiative at Harvard University | 48 Quincy Street | Cambridge, MA 02138 | P:617.495.2604 | F: 617.495.2145 December 9, 2005 Dear Friends: With the holidays quickly approaching, we wanted to take this opportunity to remind you to submit your registration for the upcoming USC Lusk/Harvard Real Estate Ski Summit in Aspen. Space is filling up, and we are putting together another exciting cross-sector program with many leaders of the real estate industry. We hope that you will be able to join us. Please note that group rate accomodations at the St. Regis in Aspen must be booked no later than January 9th, 2006. We have extended our final event registration deadline to this date as well, although registrations received on or before the original deadline of December 20, 2005 will receive priority should space become limited. Enclosed for your reference is an update on our anticipated schedule of events for the weekend of February 2-4, 2006. Please let us know if you would like to recommend additional topics of discussion. Should you have any questions about the event, please feel free to contact us through Jessica Walton at the REAI at 617-495-2604 or Nicole McAllister at the USC Lusk Center at 213-740-5516. We look forward to hearing from you. Sincerely, Stanley Ross Stuart Gabriel Richard Peiser Chairman of the Board Director and Lusk Chair Michael D. Spear Professor USC Lusk Center USC Lusk Center Harvard Design School for Real Estate for Real Estate Faculty Director, REAI SPEN A FEBRUARY 2-5, 2006 real estate ski summit Harvard USC ____________________________________________________________________ First                          Middle                        Last ____________________________________________________________________ Name as you wish to appear on badge ____________________________________________________________________ Title ____________________________________________________________________ Company ____________________________________________________________________ Address ____________________________________________________________________ Address 2 ____________________________________________________________________ City                        State/Province/Country            Zip ____________________________________________________________________ Telephone                                Fax ____________________________________________________________________ Email Address □ I will attend the Aspen Ski Summit and will bring _____ guest(s).       Name(s) as you wish to appear on badge ____________________________________       _____________________________________________________________________ □ I will NOT attend the Aspen Ski Summit.  Please keep me on the mailing list for next year. _____  Opening reception _____  Friday Aspen Mountain Club lunch _____  Friday reception and dinner _____  Saturday Aspen Mountain Club lunch _____  Saturday no host dinner (reservations only)  _____  #participant(s), Includes all meetings, meals, and receptions (@ $995 each) _____  #guest(s), Includes all meals and receptions (@ $295 each)      □  Check (payable to “President and Fellows of Harvard College”)  □  MC  □  Visa ________________________________________________________________ Name as it appears on card ________________________________________________________________ Card number                                  Expiration date (mm/yy) ________________________________________________________________ Cardholder’s signature Total registration fees:  Please mail or fax  this completed  form by  December 20th  to: Jessica Walton 48 Quincy Street Cambridge, MA 02138 P:  617.495.2604  F:  617.495.2145 Events Attending: (please enter total number  attending) Registration Fee Registration Payment 2006 Harvard USC Aspen Real Estate Ski Summit Registration Form Name Address Please contact  St. Regis Hotel  directly for  reservations St. Regis Resort 315 East Dean Street Aspen, CO 81611 P:  970.920.3300  www.stregisaspen.com Attendance USC Lusk/Harvard Real Estate Ski Summit Aspen, Colorado Past Participants Peter Bren, KBS Realty Advisors John Bucksbaum, General Growth Properties Matthew Bucksbaum, General Growth Properties Barbara Cambon Alan Casden, Casden Properties James DeFrancia, Lowe Enterprises Community Development Anthony Downs, The Brookings Institute Michael Fascitelli, Vornado Realty Trust Stuart Gabriel, USC Lusk Center for Real Estate Jeffrey Gault, Empire Companies Arthur Gensler, Gensler David Gensler, Gensler Michael Gillmore, Ernst and Young Gerald Hines, Hines David Hoyt, Wells Fargo Bank Bruce Karatz, KB Home Jim Klingbeil, Klingbeil Company Eugene Kohn, Kohn Pedersen Fox Linda Law, Law and Associates Roy March, Eastdil Realty Michael McKee, Irvine Company Rick Mork, Irvine Company Daniel Neidich, Dune Capital Management Richard Peiser, Harvard Design School Ross Perot, Jr., Perot Systems Penny Pritzker, Pritzker Realty Group Charles Ratner, Forest City Enterprises Dale Anne Reiss, Ernst and Young Will Rogers, Trust for Public Land Stan Ross, Ernst and Young Stephen Roth, Secured Capital Corporation Ngee Huat Seek, GIC Real Estate Scott Wolstein, Developers Diversified Thomas Toomey, United Dominion Realty Trust Karl Zavitkovsky, City of Dallas Harvard/USC Lusk Real Estate Ski Summit Aspen, Colorado February 2-4, 2006 Schedule of Events Thursday, February 2nd, 2006 8:00-5:00pm Skiing as you wish 7:00-10:00pm Opening Reception, Home of Jim DeFrancia, 17 Ute Place, Aspen Friday, February 3rd, 2006 8:00am-4:00pm Skiing as you wish 12:00-1:00pm Lunch, Aspen Mountain Club, Top of Aspen Mountain Gondola 4:00-7:00pm Meetings and Discussions, St. Regis Resort, 315 E. Dean Street, Aspen Œ Demographic Trends Impacting Real Estate Œ Natural Disaster Recovery and Real Estate Interests Œ Sector Discussions (Retail, Residential, Resort) 7:00-10:00pm Gala Reception and Dinner Saturday, February 4th, 2006 8:00am-4:00pm Skiing as you wish 12:00-1:00pm Lunch, Aspen Mountain Club, Top of Aspen Mountain Gondola 4:00-7:00pm Meetings and Discussions, St. Regis Resort, 315 E. Dean Street, Aspen Œ Capital Markets (Domestic and International) Œ Military Conversions Œ Sector Discussions (Mixed Use, Industrial, Acquisitions) 7:00-10:00pm No Host Dinner, various Aspen locations