Prime Income Asset Management's Louis J. Corna Steps Into General Counsel Role Corna Replaces Bob Waldman, Who Resigns to Pursue Other Interests DALLAS, Feb. 13 /PRNewswire/ -- Prime Income Asset Management announced today that Louis J. Corna has added general counsel to his title, due to the recent resignation of former senior vice president, general counsel and secretary, Bob Waldman. Corna was previously Executive Vice President Tax Counsel. His new title is Executive Vice President, General Counsel/Tax Counsel & Secretary. Corna left his private law practice in 2000 to join the company as senior vice president-taxes. Prior to that, Corna served as vice president-taxes for two Fortune 400 companies -- IMC Global, Inc., and Whitman Corp., both located in the Chicago area. Corna holds a Juris Doctor degree from Loyola University of Chicago School of Law and a BBA in accounting, also from Loyola. He is an accredited CPA in Texas and Illinois and is licensed to practice law in both states. Corna is an American Bar Association committee member of the Real Estate Tax Section and Foreign Activities of U.S. Taxpayers and holds memberships in the Financial Executive Network Group and Tax Executive Institute. Waldman, who had served as general counsel since 1989 resigned, effective Feb. 6, to pursue other opportunities. ABOUT PRIME INCOME ASSET MANAGEMENT Managing a $1.6 billion real estate portfolio, Dallas-based Prime Income Asset Management is one of the largest privately owned real estate management firms in the United States. The company is contractual advisor to a number of private and public companies, including American Realty Investors, Inc. (NYSE: ARL) and Transcontinental Realty Investors, Inc. (NYSE:TCI). DATASOURCE: Prime Income Asset Management CONTACT: Steve Hill of Michael & Partners, +1-972-716-0500 x13, for Prime Income Asset Management

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