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The Tower, Roanoke, Virginia

Poe & Cronk Selected to Serve as the Exclusive Leasing and Management Representative for the Wachovia Tower in Downtown Roanoke

Wachovia Tower, Roanoke, VA ROANOKE, VA - July 25, 2005 - Poe & Cronk Real Estate Group has been chosen as the Exclusive Leasing and Management Representative for the Wachovia Tower, the premier office building in western Virginia. Opened in 1991, the Wachovia Tower is one of the largest office buildings in Virginia. Within its 21 floors, there are 220,000 square feet of office space. It is located in historic downtown Roanoke with direct access to the Hotel Roanoke and Conference Center via the skywalk over the Norfolk Southern railroad tracks.

"We are delighted to have been selected to manage and lease this prestigious property," said Dennis R. Cronk, President/CEO of Poe & Cronk. "The Wachovia Tower defines the Roanoke skyline and has become the place to be for successful businesses."

Charlotte Developer Henry Faison, who shares ownership interest in the Tower with the William J. Lemon family of Roanoke, engaged Poe & Cronk to handle leasing opportunities, in addition to managing the building. Faison & Associates has been responsible for the management since 1991.

"The Wachovia Tower is a quality office building, one of our finest," remarked Faison. "The building stands out not only in Roanoke, but in all the markets we have developed office buildings."

The building has 24/7 security and internal parking for 725 vehicles. "The Wachovia Tower is a landmark in our Valley," said Lemon. "We're proud to be associated with it, and to have the Poe & Cronk firm represent us."

Among the tenants are Wachovia Corporation, the laws firms of Woods Rogers PLC, LeClair Ryan Flippen Densmore PC and Martin Hopkins & Lemon PC, the accounting firm of KPMG International, financial firms of UBS Financial Services, Inc., A.G. Edwards Financial Consultants and Wachovia Securities, and Meridium, Inc. an international software company.

Rental rates are very competitive, according to Cronk. "Our research shows that the Wachovia Tower is the best value among Class A office buildings in the region," he said.

About Poe & Cronk

Poe & Cronk (www.poecronk.com) is locally owned and internationally recognized as a leading full-service commercial real estate company. A team of real estate professionals with more than 200 combined years of experience offers expertise in marketing and managing commercial, industrial and investment properties. Organized in 1987, Poe & Cronk provides comprehensive commercial, industrial and investment real estate services throughout Western Virginia.