Canopy Breaks Ground for Its Fifth Major High-Tech Office Building

Governor Jon Huntsman Jr. Praises Continued High-Tech Growth

LINDON, Utah -- Sept. 22, 2006 -- Canopy Properties broke ground today on Canopy V, a $10 million, 95,000-square-foot high-tech office building in Lindon, Utah. Utah Governor Jon Huntsman Jr. presented a keynote address recognizing the contributions of Canopy and its founder, Ray Noorda, to Utah's successful high-tech economy.

"There are many different ways of giving back to our community," said Governor Huntsman. "When Ray Noorda founded Canopy in 1995 to encourage the development and growth of small high-tech companies, he began a major contribution to the long-term economic health and vibrancy of our state. Many Utah families benefit from the jobs created by Canopy's investments."

Canopy V will rise at 331 South 670 West in Lindon. The new three-story building will meet the needs of high-tech businesses by providing world-class security features coupled with a robust and speedy communications infrastructure. The company currently operates four other office buildings as part of its Lindon campus.

"Canopy Properties and Canopy Ventures work together to support growing companies," said Ron Heinz, managing director of Canopy Ventures. "Canopy Ventures provides these companies with much-needed venture funding while Canopy Properties provides them with top-quality office space with room to grow as they expand."

"Canopy's existing buildings house both Canopy portfolio companies and non-Canopy tenants," said Gerald Garbe, vice president real estate/facilities. "Bringing innovative companies together in a well-designed physical setting fosters innovation and cross-pollination of ideas."

The building is scheduled for occupancy in December 2007. The development is located just east of I-15 in Lindon, Utah. Canopy Properties owns approximately 20 additional acres upon which it may expand in the future.

About Canopy Properties

Canopy Properties provides high-tech companies with the latest in facilities, security, office management and onsite technologies. Canopy Properties currently owns and manages buildings with more than 250,000 square feet of high-tech office space along with 10,000 square feet of Class A, raised floor data center in Lindon, Utah.