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Fuji Photo Film U.S.A. Signs Major Lease for U.S. Headquarters

Press release from the issuing company

Aug. 5, 2002-- In the largest lease transaction to occur in Westchester County during the last two years, Fuji Photo Film U.S.A., Inc., will move its headquarters to Valhalla, Westchester County, NY, it was announced today. The company, which is the American sales and marketing subsidiary of the Fortune Global 500, Fuji Photo Film Co., Ltd., of Tokyo (FUJIY) has leased approximately 164,000 square feet at Reckson Summit at 200 Summit Lake Drive, a Class A property owned by Reckson Associates Realty Corp. A world leader in imaging and information products and services, Fujifilm will occupy several floors at the three-building Reckson Summit office park. Fujifilm selected the new location upon completing a three-year search for a new headquarters in Westchester and Fairfield Counties, as well as various locations outside the New York Tri-State area. The 10-year lease, which commences in April 2003, comprises over half of the 249,551-square-foot building at 200 Summit Lake Drive. The company will occupy the entire 3rd and 4th floors and a portion of 2nd floor. Fujifilm is expanding -- by an additional 60% -- from 106,000 square feet at its current headquarters location in the Taxter Corporate Park in Elmsford, NY, where it moved from New York City in 1986. Paul Myers Senior Vice President of the CB Richard Ellis New York City office and Frank Tomasulo Senior Vice President of the New York/Connecticut Suburban office, represented the tenant in the transaction. CB Richard Ellis has a long-term relationship with Fujifilm, and upon today's transaction closing will have represented them on nearly 1 million square feet of commercial leases in major markets throughout the United States. "Fujifilm investigated a number of options in its search for new corporate office space and after weighing them all, we are very pleased to be remaining in Westchester County and New York," explained Stanley E. Freimuth, Executive Vice President and Chief Operating Officer, Fujifilm USA. "We have found New York and Westchester to be a great place to do business and this decision will be very convenient for our employees who enjoy working here. We appreciate the support of the county, the state and our friends at CB Richard Ellis and Reckson." "We are very pleased that this move will allow us to continue to grow here in America while providing a pleasant and productive work environment for our employees," said Yasuo "George" Tanaka, President and Chief Executive Officer, Fujifilm USA.