Bruce W. Duncan

Bruce W. Duncan, Chairman, President and Chief Executive Officer of
Cadillac Fairview Corporation, oversees all day to day operations of the
company. Cadillac Fairview is a major owner, manager and developer of
commercial real estate in North America with a total enterprise value
(equity + debt) of $5.0 billion (CDN). It has ownership interests or
manages 105 properties containing over 51 million square feet. This
includes 49 Canadian retail properties totalling approximately 28
million square feet, 44 office properties totalling nearly 14 million
square feet and 12 U.S. shopping centres totalling approximately 8
million square feet. Prior to joining Cadillac Fairview, Mr. Duncan
worked for JMB Realty Corporation from 1978 to 1992, where he served as
Executive Vice-President and a member of the Board of Directors. From
1992 to 1994, he was President and Co-Chief Executive Officer of JMB
Institutional Realty Corporation providing advice and management for
investments in excess of $9 billion (U.S.) in real estate by tax-exempt
investors, including public and corporate pension funds, unions,
endowments and foundations. Mr. Duncan is active in numerous business
and charitable organizations including being on Board of Trustees of
Starwood Lodging Trust, the largest hotel REIT in the U.S., and on the
Board of Trustees of Kenyon College and Amresco Capital Trust. He is
also a member of the Board of Directors of the Canadian Institute of
Public Real Estate Companies (CIPREC). Mr. Duncan is a member of the
Urban Land Institute (ULI) and a member and past trustee of the
International Council of Shopping Centres (ICSC). Mr. Duncan is a
graduate from the University of Chicago with a Master’s degree in
Business Administration and an Bachelor’s degree from Kenyon College.
He is a CPA.