2008-08-21 21:35:04 -

www.inlandgroup.com - Please replace the release dated Aug. 19, 2008 with the following corrected version due to revisions.

The corrected release reads:

THE INLAND REAL ESTATE GROUP OF COMPANIES, INC. ANNOUNCES ACQUISITIONS DURING FIRST HALF 2008 TOTALING NEARLY $1.7 BILLION

The Inland Real Estate Group of Companies, Inc. today announced that the companies in

the group collectively acquired over $1.69 billion in assets during the first half of 2008.

The total represents 194 properties aggregating over 7.4 million square feet, in addition to the completion of several merger and joint venture transactions. Acquisitions were made in each of the major commercial property types, including over two million square feet of retail space, more than four million square feet of office and industrial space and 4,061 hotel rooms.

Additional acquisition activity has been strong thus far in the second half of 2008. Inland Real Estate Acquisitions, Inc. recently purchased four Bank of America office buildings in a sale-leaseback transaction for over $152.5 million totaling 839,808 square feet.

"We continue to see attractive opportunities directly from owners and brokers, particularly for sale-leaseback transactions," said Joe Cosenza, a vice chairman of The Inland Real Estate Group of Companies, Inc. and president of Inland Real Estate Acquisitions, Inc. "Our ability to maintain this deal flow despite a challenging transactional marketplace is due to our long standing relationships, our significant liquidity and our track record in due diligence and closing."

Also in the first half of 2008, Inland Institutional Capital Partners closed on the final group of seed properties for joint venture with a total value of $1.1 billion that it negotiated with Lexington Realty Trust to acquire and manage net-leased properties. The properties include 13 office/industrial properties located in Arizona, Massachusetts, Michigan, Florida, Tennessee and Texas for a total of 2,590,182 square feet.

"There are tremendous opportunities on a number of fronts with equity capital available for higher yielding strategies," said George Pandaleon, president of Inland Institutional Capital Partners. "We are seeing an increasing number of opportunities as a result of the dislocations in the capital markets and in nontraditional product types."

Other significant acquisitions in the first half of 2008 include:

-- A $100 million Series A Convertible Preferred Membership interest in Wakefield Capital, LLC, a private company that invests in senior living facilities. The transaction was negotiated by Inland Capital Markets Group, LLC.

-- A $24.9 million mezzanine finance transaction for the 412-room Westin North Shore Hotel in Wheeling, Ill.

-- The final 143 properties of SunTrust Bank Portfolio II, part of two SunTrust Bank portfolios purchased in 2007 and 2008, totaling 433 triple-net lease properties with over 2.2 million square feet for an approximate price of $736 million.

-- C&S Wholesaler Groceries, Inc., a 1,311,295 square-foot freezer industrial building in Birmingham, Ala. for over $48 million.

-- Robertson's Creek, a 233,434 square-foot retail center in Flower Mound, Texas purchased for over $63 million.

-- Jefferson Commons, a 306,249 square-foot retail center in Newport News, Virginia purchased for $79.6 million.

About The Inland Real Estate Group of Companies, Inc.

Headquartered in Oak Brook, Ill., The Inland Real Estate Group of Companies, Inc. is a diverse group of real estate companies, including public real estate investment trusts (REITs), both exchange listed and non-listed. Inland-sponsored companies own and manage in total over 100 million square feet of commercial real estate located in 45 states in the U.S. and Canada, as well as managed assets in excess of $21 billion. The Inland Real Estate Group of Companies, Inc. is comprised of a group of separate legal entities some of which may be affiliates, share some common ownership or have been sponsored and managed by subsidiaries of Inland Real Estate Investment Corporation. For additional information, please refer to the company website at www.inlandgroup.com.

Inland Communications, Inc.
Lindsey Ignace
(630) 218-8000 Ext. 2887 or ignace@inlandgroup.com