Column Financial Expands Network Into South Florida

Business Wire, Sept 10, 1998

HOLLYWOOD, Fla.--(BUSINESS WIRE)--Sept. 10, 1998--

20 Year Veteran Tom Pribisco to Head Office

Column Financial, Inc., one of the country's largest and oldest mortgage conduit financing companies, today announced the opening of an office in Hollywood, Florida, at 4601 Sheridan Street, Suite 316. The office will be headed by Tim Pribisco, who has been active in the real estate business in South Florida for more than 20 years. Column Financial is headquartered in Atlanta and is a wholly owned subsidiary of Donaldson, Lufkin & Jenrette, Inc. (NYSE:DLJ).

Column Financial acted as the principal lender for more than $1.9 billion in mortgages in 1997 and $1.2 billion through the first half of 1998. The company has 50 employees located in 13 offices throughout the United States.

"We are delighted to be able to offer clients and mortgage bankers in the growing Florida and Southeast region a full spectrum of commercial mortgage loan origination and underwriting services," said Kieran P. Quinn, President, Column Financial. "Column has closed approximately $500 million commercial mortgage loans in Florida since the firm's inception."

With offices in New York, Newport Beach, Dallas, Chicago, Bethesda, Norwalk, Atlanta, Cleveland, Denver, Seattle, San Francisco, Houston -- and now Hollywood -- Column has created a dominant national presence in the loan origination business. Column's primary business function is to originate, underwrite and close all types of commercial mortgage loans. Column Financial, Inc. was created in 1993 as a joint venture between DLJ and Equitable Real Estate, and became a wholly owned DLJ subsidiary in June 1997.

Donaldson, Lufkin & Jenrette is a leading integrated investment and merchant bank serving institutional, corporate, government and individual clients. DLJ's businesses include securities underwriting; sales and trading; investment and merchant banking; financial advisory services; investment research; venture capital; correspondent brokerage services; online, interactive brokerage services; and asset management. Founded in 1959 and headquartered in New York City, DLJ employs approximately 8,000 people worldwide and maintains offices in 14 cities in the United States and 11 cities in Europe, Latin America and Asia. The company's common stock trades on the New York Stock Exchange under the ticker symbol DLJ. For more information on Donaldson, Lufkin & Jenrette, refer to the company's world wide web site at http://www.dlj.com.

CONTACT: For Donaldson, Lufkin & Jenrette

Dan Burris, 212/892-6809