First Interstate Properties Joins Legacy Village Development Team; TRW Applauds Addition of Beachwood Developer

    LYNDHURST, Ohio--April 5, 2001--TRW officials announced today that First Interstate Properties of Beachwood, Ohio will join Orix/TMK as the local developer of Legacy Village, the upscale lifestyle center approved by Lyndhurst residents in last November's general election.
    The new development team will be known as Legacy Village Partners.
    The Lyndhurst property borders Cedar Road and was originally part of TRW's corporate headquarters complex. With voter approval, the property was rezoned, paving the way for development of Legacy Village.
    First Interstate Properties is one of the fastest growing and most respected developers in Northern Ohio. Among its retail developments are Avon Commons, a 650,000 sq. ft., $65 million-dollar retail complex in Avon, Ohio. First Interstate has developed a reputation for working cooperatively with surrounding neighborhoods and community leaders. Its projects have won numerous awards and have been recognized editorially for their quality and sensitivity to environmental and aesthetic concerns.
    As the incoming local development partner, First Interstate will assume the day-to-day management responsibilities of the project, while Orix/TMK will focus on leasing and tenant mix.
    "We're delighted to have the opportunity to head up the development team for Legacy Village," said Mitchell C. Schneider, president of First Interstate Properties. "From the first time I heard about Legacy Village I knew it would be one of the most innovative, attractive, and exciting retail centers in the Midwest. We are pleased to be part of making it a reality." Pointing out First Interstate's Beachwood location, Schneider went on to say, "Legacy Village gives us the opportunity to build a world-class project in our own backyard. We know the community, we know what the people of Lyndhurst expect, and we intend to deliver."
    TRW officials reacted positively to the new role First Interstate will have in the development of Legacy Village. John Keogh, vice president of real estate for TRW, said, "The addition of First Interstate Properties to the development team is a reaffirmation of the commitment TRW made to the citizens of Lyndhurst last fall to bring a first-class project to the community. We look forward to working with First Interstate and Orix/TMK as we begin the next phase of this important project and, ultimately, to making Legacy Village the pride of Lyndhurst and the envy of Northeast Ohio. Bringing such a well-respected local developer to the Legacy Village team will further ensure our success."
    TRW, which celebrates its 100th anniversary in 2001, provides advanced-technology products and services for the aerospace, information systems, and automotive markets. The company's news releases are available through TRW's corporate Web site, www.trw.com.