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SONGY PARTNERS LEASES ENTIRE BUILDING
IN HOUSTON'S ENERGY CORRIDOR TO PGS AMERICAS

ATLANTA –Songy Partners Limited has leased a 146,765 square-foot building in the Houston Energy Corridor to PGS Americas Inc., which plans to occupy the entire six-story building in March 2005. An Atlanta-based real estate firm, Songy purchased the vacant building last year from a subsidiary of Halliburton, performed moderate renovations and is currently constructing the building's interior to meet the specific needs of PGS Americas.  

PGS Americas is consolidating three offices from various Houston sub-markets into the new headquarters at 15150 Memorial Drive in West Houston. Its Norway-based parent company, Petroleum Geo-Services ASA, provides marine seismic data, on-shore surveying and oil and gas production services for clients operating in the North Sea and Gulf of Mexico. The energy company employs approximately 3,400 people and has operations in more than 20 counties worldwide and reported revenues exceeding $1.1 billion in 2003.

“We are extremely pleased to lease the entire building to one client,” said Songy Partners COO Todd Nocerini. “Our goal was to find a full-building user for this building in the Energy Corridor.” Bonnie Kelly, Director of Leasing for Songy's Houston office managed lease negotiations. CB Richard Ellis served as broker.

Financing for Songy's purchase and renovation of the building is from the Songy Holdings Fund, whose major investors are Songy and BayNorth Capital Partners of Boston, which invests on behalf of the Harvard Endowment Funds.

Petroleum Geo-Services is a technologically focused oilfield service company principally involved in geophysical and floating production services. PGS provides a broad range of seismic- and reservoir services, including acquisition, processing, interpretation, and field evaluation. PGS owns and operates four floating production, storage and offloading units (FPSO's). PGS operates on a worldwide basis with headquarters in Oslo, Norway. For more information on Petroleum Geo-Services visit: http://www.pgs.com

Songy Partners Limited ( http://www.songypartners.com ) is a commercial real estate firm based in Atlanta, with company offices and projects in Atlanta, Houston, Miami, Mexico City, Knoxville, Tampa, Boca Raton, Lafayette, and Dallas. The partnership was formed to acquire, renovate and develop institutional quality real estate projects throughout the United States.