Captec stockholders of record as of October 9, 2001 will be entitled to vote at a Special Meeting of Stockholders, which has been scheduled for 10 a.m. Nov. 19. The meeting will be held at the Ritz-Carlton Hotel in Dearborn, MI. Captec also mailed a letter, together with the definitive proxy materials, to all Captec stockholders explaining the merger.

CNLR will acquire all of Captec's outstanding shares for a combination of cash and stock with an aggregate value of approximately $124 million, based on a value of $13.05 per share of Captec common stock, at the time the agreement was executed. The stock portion is expected to be tax-free to Captec stockholders and the transaction is expected to be completed during the fourth quarter of 2001.

As a result of this merger, CNLR will have an enhanced portfolio of more than 377 properties in 40 states. After the merger, CNLR will have total gross leaseable area of approximately seven million sf, approximately seven times Captec's current total gross leaseable area. CNLR's diversified tenant base will become even more diverse with 96 tenants in 27 different retail lines of trade.