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AMERICAN PROPERTY GLOBAL PARTNERS CHANGES NAME TO ALLEGIANCE REALTY CORP. CHARLOTTE, NC JANUARY 2005 - American Property Global Partners, a fast-growing private commercial real estate and investment company headquartered in Charlotte, North Carolina with offices in Armonk, New York and Albuquerque, New Mexico, has officially changed its name to Allegiance Realty Corporation. The name change reflects and reinforces the Company’s continuing focus on building quality relationships with its partners, tenants, lenders, guests and local community. In addition, the Company is aggressively expanding in the office and hotel markets across the United States and is increasing staffing levels. Christopher Smith, president of Allegiance Realty Corporation, commented, “We are consistently striving to set a higher standard of excellence in the real estate market by aligning our interests with those of our stakeholders whether they are our tenants, guests, investors or partners. We have been successful at growing Allegiance Realty Corporation over the past 7 years while still preserving our entrepreneurial structure and hands-on approach. We believe strongly, as our new name implies, that there is only one way to conduct business, and that’s the right way, always putting the interest of our stakeholders first. Our new brand identity also strives to reinforce the type of quality company we are building at Allegiance Realty Corporation.”