The 11th Annual Fisher Center Real
Estate Conference

Sponsored by
Fisher Center for Real Estate and Urban Economics
University of California, Berkeley
Thursday, April 20, 2006
8:00 a.m. – 5:00 p.m.
St. Francis Hotel, Grand Ballroom, San Francisco

U.S. and CALIFORNIA REAL ESTATE
IN A CHANGING WORLD

This is the theme for this year's full-day conference. Leading experts will share their ideas about the evolving complexities of today's real estate business and how the industry will be affected by the challenges of an ever-changing economy. Ample time is allotted for questions and answers to provide attendees the opportunity to exchange ideas with some of the most knowledgeable authorities on the economy, real estate, technology and finance.
This year, we are planning sessions on these timely and important topics:

• The Residential Sector: Do Housing Prices Defy Gravity?

• The Economic Forecast: Is the U.S. Economic Growth Sustainable?

• Investment Opportunities: Strategies for Uncertain Times

• The Impact of Retiring Baby Boomers on Real Estate and the Economy

• REIT's: The Underlying Drivers

WHY YOU SHOULD ATTEND
This full day program of individual presentations examines current trends and critical issues in the real estate market, and particularly in California. National and local industry leaders will present their ideas and respond to questions from the audience. Full lunch and refreshment breaks - included in the registration fee - will provide ample time for networking with colleagues and presenters. Industry leaders and business professionals - real estate entrepreneurs, brokers, financiers, investors, attorneys, accountants, developers, and press - contribute to make this a great educational and networking opportunity.

CONTINUING EDUCATION CREDIT
The 11th Annual Fisher Center Real Estate Conference is applying for 8 hours of Continuing Education credit from the State Office of Real Estate Appraisers (OREA), and Consumer Protection Continuing Education credit from the California Department of Real Estate (DRE Sponsor #1656), and is also approved for one re-certification credit from the Society of Industrial and Office Realtors. The OREA and the DRE require attendees to be present for 90% of the program session time. Attendance will be verified for those seeking continuing education credit from other professional organizations. Attendance forms must be picked up at the registration table upon arrival. Completed forms must be presented, with a photo I.D., to conference staff at the end of the day. You have the option of submitting an online Course and Instructor Evaluation form at www.dre.ca.gov . Select "Course & Instructor Evaluation" in the lower right-hand portion of the homepage.

REFUND AND CREDIT CARD POLICY
Registrations are fully transferable to another person at no charge at any time, but refunds, less a $25 administrative fee, will be made only if written notice is received no later than April 6, 2006. Registrations on a credit card will be charged upon receipt and refunded to the same card. We accept Visa, Mastercard, Discover, and American Express.

THE SPONSOR
The Fisher Center for Real Estate and Urban Economics (FCREUE) is sponsoring this conference in cooperation with the UC Berkeley Haas School of Business and the Berkeley Real Estate Associates. FCREUE has been a leading research center in the real estate finance area since its establishment at the University of California at Berkeley in 1950. It provides a forum for business leaders, government officials and academics, and is dedicated to high-level academic and executive education programs. The University of California is a non-profit organization, and all proceeds of this conference are used to support FCREUE's education, fellowship and research functions.

HOTEL RESERVATIONS
If you would like to make a room reservation at the St. Francis Hotel while attending this conference, please call the hotel directly at (415) 397-7000. The sponsor is not responsible for, and cannot assist with, individual room reservations.

CONFERENCE REGISTRATION & PAYMENT INFORMATION
• Registration effective upon receipt of payment only. Checks are payable to UC REGENTS. Registration is onnline for both credit card and check payments..
• Discount rate registrations must be received or postmarked no later than the date indicated.
• Fee includes lunch, refreshments and handout materials
• Phone (510) 643-6109
• Fax (510) 643-7357
Registrations received after April 14th will be held at will-call.

REGISTRATION FEES

• $350 each April 1 - May 13, 2005
• $425 each May 14 - May 20, 2005 and onsite

Fisher Center for Real Estate and Urban Economics
F602 Haas School of Business, #6105
University of California
Berkeley CA 94720-6105
Tel: (510) 643-6109
Fax: (510) 643-7357
Email: creue@haas.berkeley.edu