Jeffrey P. Krasnoff

JEFFREY P. KRASNOFF became the President of LNR Property
Corporation when it was formed in June 1997 and became a Director
in December 1997. Mr. Krasnoff joined Lennar Corporation, one of
the nation’s leading homebuilders, in 1986 and became involved in
Lennar’s commercial real estate operations in 1990. From 1990
until the spinoff, Mr. Krasnoff was responsible for the company’s
investments in commercial real estate assets and was involved
with the creation of its loan workout and special servicing
operations, as well as the formation of LNR. Prior to LNR and
Lennar, Mr. Krasnoff spent 10 years with KPMG Peat Marwick in New
York City and Florida where his areas of specialization included
real estate and mergers and acquisitions. Mr. Krasnoff is a
graduate of Duke University. Effective December 2, 2002, Mr.
Krasnoff will become LNR’s CEO.