COSTA MESA, CA-Co-founder and chairman Thomas L. Schriber of theretail development and investment firm Donahue Schriber has retiredfrom company, closing out 41 years at the helm of the private REIT.Schriber has relinquished his role to president, CEO and 30-yearcompany veteran Patrick S. Donahue as part of the company’ssuccession plan. He will stay on as chairman emeritus and an activeboard member while Donahue assumes the responsibilities of chairmanof the board and continues to serve as CEO.

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Schriber, who established Donahue Schriber with his latepartner, Daniel W. Donahue, says that he and Donahue "alwaysbelieved in looking ahead and planning for the company's future."His retirement is part of a succession plan that the twoco-founders created, which was designed "to utilize the pool oftalented individuals who have demonstrated the ability to leadDonahue Schriber," the retiring chairman says.

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Throughout his 30-year career with the company, Pat Donahue hasworked in every aspect of Donahue Schriber's business includingleasing, asset management, development and corporate strategy. Heis actively involved with the International Council of ShoppingCenters, which next week convenes its signature annual conventionin Las Vegas, and is a past trustee of its board of directors.

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As part of the management transition, Lawrence P. Casey takes onthe role of president, adding to his duties as COO. During his morethan 33 years in real estate and investment, Casey has managed over$4.5 billion of assets nationally. He joined Donahue Schriber in2000 as its CFO and also represents the company through activeinvolvement with ULI.

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Donahue Schriber has been involved in nearly 32 million squarefeet of retail properties in its 41-year history. The private REITowns and/or operates a portfolio of 84 neighborhood, community,community lifestyle and power shopping centers representing over 12million square feet throughout California, Nevada, Arizona andOregon.

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Commenting on the succession plan and the company's philosophy,Schriber says, “Dan and I founded the company on the belief that ateam approach would be a key to our success. The executive teammembers have worked together for many years and have proventhemselves in both good and challenging times. It’s what Dan and Ienvisioned.”

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