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WASHINGTON, DC-Highlighting the economic risks caused by the lack of a federal terrorism insurance backstop, the Real Estate Roundtable will call on President Bush at today’s economic forum in Texas to continue his prodding of Congress to institute terrorism insurance legislation. Both congressional chambers have passed individual versions of such terrorism bills, and are scheduled to conference on the issue upon returning in September from summer recess.

Roundtable representatives will meet in a group discussion with Treasury Secretary Paul O’Neill on the future of the economy and the job market. The roundtable will point to the billions of dollars in canceled real estate construction due to the absence of sufficient and affordable terrorism insurance, the corresponding effects on employment, and another resulting issue.

“Some think of this problem as only affecting tall buildings in big cities,” Roundtable treasurer Penny Pritzker points out in a prepared statement to be delivered at the forum. “But most of the equity invested in these so-called ‘high-profile’ properties comes from the literally thousands of individual investors and pensioners that comprise the nation’s pension funds and real estate investment trusts.”

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