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January 15, 2004

Stellar International Holdings

Stellar International Holdings, a private investment company in Seattle, began repositioning its asset base last year. "We brought in a new president, Jeffrey Cook, and a new CFO, Valerie Margulis to drive what we see as an exciting period of growth ahead for SIH," Chairman and CEO Lars Jonsson said Monday when he announced the $52 million sale of a Stellar asset, the 12-story Frank Russell Building in Tacoma, to Wells Real Estate Investment Trust. Cook formerly was president and CEO of Penford Corp., and Margulis is the former director of real estate finance for Vulcan Inc.




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