FOR IMMEDIATE RELEASE

Date: SEPTEMBER, 2004

For more information contact: Mike Seiber - (619) 280-2600

L.A. FITNESS PURCHASES LAND IN EASTLAKE

Chula Vista, CA 91914 – The Eastlake Company, LLC has sold approximately 4.45 acres of land in the Eastlake Village Center West located at SWC Otay Lakes Road and the proposed SR-125 to L.A. Fitness.

The sale was for a total consideration of $4,538,908, according to Flocke & Avoyer Commercial Real Estate.

Mike Seiber, Stewart Keith and Jim Flocke of Flocke & Avoyer Commercial Real Estate represented the Seller in this transaction. The Buyer was represented by Doug Hogan and Bill Barnett of Burnham Real Estate Group.