Baltimore, Maryland, August 30, 2005 – Forest City Enterprises announces the hiring of Suzanne Warren as Vice President of the firm's national Science + Technology Group and Project Director of the New East Baltimore Community—a joint venture between Forest City and a group of prominent local builders and developers in the Baltimore/Washington region.

Warren brings to Forest City an extensive portfolio in complex, large-scale, multi-use developments. Previously, she was a Senior Vice President and partner at one of the top five full-service commercial real estate companies operating in every sector of the Baltimore/Washington marketplace.

"Suzanne's professional experience and passionate commitment to the reinvigoration of the East Baltimore community will serve the project well," Forest City's Senior Vice-President & Chief Development Officer, Peter Calkins, said. "Her leadership will undoubtedly have an immediate impact and will continue the established momentum already synonymous with this exciting, impending neighborhood rebirth."

About the New East Baltimore:

Directly adjacent to the Johns Hopkins medical campus, the New East Baltimore development includes an $800 million investment in life science research and office space, residential units, and a broad variety of retail services and amenities coupled with a network of parks and pedestrian links. The first phase of the development will include 1.1 million square feet of life sciences research and office space, approximately850 mixed use residential units, and more than three acres of parks and open space. The Forest City-New East Baltimore Partnership, a joint venture between Forest City Enterprises and Presidential Partners, is developing the initial 31-acre first phase. East Baltimore Development, Inc., a nonprofit corporation empowered by the City of Baltimore, is overseeing the development of the entire 80-acre site.

Forest City Enterprises, Inc., a $7.4-billion company recently rated by Fortune magazine as the top publicly traded real estate company, is principally engaged in the ownership, development, acquisition, and management of premier commercial and residential real estate throughout the United States. An NYSE-listed real estate company (NYSE: FCEA and FCEB), its portfolio includes interests in retail centers, apartment communities, office buildings, and hotels throughout the United States. Established in 1921, Forest City is committed to building superior, long-term value through a consistent strategic focus on projects in markets with high-growth potential and challenging barriers to entry. Headquartered in Cleveland, Ohio, Forest City has offices in Los Angeles, Denver, Chicago, New York, Washington, D.C., Boston, and Baltimore. For additional information, visit www.forestcity.net, or www.forestcityscience.net.