July 15, 2004

The Scripps Research Institute announced today it has selected the joint partnership of the Weitz Company of West Palm Beach, Fla., and DPR Construction, Inc., of San Diego, Calif., to manage construction of the 364,000-sq.-ft., $137 million Scripps Florida facilities expected to be built in Palm Beach County.

The Weitz-DPR team has combined experience during the past 15 years in managing construction of $3 billion of research and laboratory facilities and more than $13 billion of health care, educational, industrial and commercial office space. More than $2 billion of these diverse projects have been in Florida, including more than 200 built in Palm Beach County.

"The Weitz-DPR team is particularly well suited for the Scripps Florida project," said Institute President Richard A. Lerner, M.D. "Scripps Research welcomes back DPR as a partner. In the past four years, the firm has successfully completed 41 projects for us in La Jolla totaling $37.9 million. Weitz has strong, established relationships with our Scripps Florida architects, the Zeidler Partnership, and the Palm Beach County government."

The Weitz-DPR team is expected to provide services in two phases, beginning immediately.

The pre-construction phase will consist of all activities related to preparation and development of the construction cost estimate, bidding, scheduling, and construction execution plan. It will conclude with Scripps Research and the team reaching a mutually agreeable "guaranteed maximum price" (GMP) for the finished construction.

The construction management phase, beginning in January 2005, will include all activities and costs associated with the execution of the construction program, project completion anticipated by September 30, 2006, and ultimate close out.

Scripps Florida is nearing completion of its schematic design phase and moving into the design development stage in which more detailed specifications, drawings, and documents are prepared that ultimately result in the construction plans. The Weitz-DPR team will bring their extensive experience as participants in these next steps.

In addition to working with the architectural team of Zeidler Partnership/Bohlin Cywinski Jackson, and its 10 Florida-based partners, the Weitz-PDR team will be overseen by Fluor Corporation of Aliso Viejo, Calif., including its two Palm Beach partner firms, which serves as overall program manager for Scripps Research.

DPR, under the direction of Peter Salvati, has constructed 41 projects for The Scripps Research Institute in La Jolla, including tenant improvements, a variety of laboratories, mechanical system upgrades, computer rooms, a cafeteria, and expansions of break rooms. In addition, the firm has built 25 biopharmaceutical and manufacturing facilities exceeding $500 million at the scientific research area adjacent to the Scripps Research campus. It will complete a multifaceted project in November for Biogen-IDEC that includes a manufacturing facility, laboratory building, and utility buildings.

The Weitz Company, led by President Len Martling, has built 11 projects with the Palm Beach County government during the past 13 years. Among its most well know Palm Beach County facilities are the Meyer Amphitheatre, the Burt Reynolds Institute for Theatre Training, and the Cohen Pavilion at the Raymond T. Kravis Center. Weitz has been the exclusive contractor of the Breakers Hotel for 12 consecutive years. It also constructed a 250,000-sq.-ft. training facility for Motorola, Inc., in southern Florida.

About Scripps Florida
Scripps Florida, a 364,000-sq.-ft., state-of-the-art biomedical research facility, is expected to be built on 100 acres of undeveloped land west of I-95 off of PGA Boulevard and bordered by Seminole/Pratt Whitney Road. The facility will focus on basic biomedical science, drug discovery and technology development. Palm Beach County is providing an economic package that includes the land, $137 million toward construction of the permanent facility and related costs, and costs for temporary facilities for Scripps scientists. Planning, development and preliminary construction of the new campus are currently under way to meet an aggressive completion schedule. The campus is expected to open in late 2006 and will ultimately employ more than 500 people.

The start-up costs of Scripps Florida, a division of The Scripps Research Institute headquartered in La Jolla, Calif., are supported by a one-time $310 million appropriation of federal economic development funds made by the State of Florida at the request of Governor Jeb Bush. Scripps Florida is expected to attract other research facilities, and biotechnology and pharmaceutical firms, as well as residential, commercial, recreational, educational, and cultural development to the surrounding area.

Scripps Florida is now operating out of 8,000-sq.-ft. lab facilities on the Florida Atlantic University Boca Raton campus. It will move in early 2005 to a 41,000-sq.-ft. facility now being built by the university on its Jupiter campus.

About The Scripps Research Institute
The Scripps Research Institute in La Jolla, Calif., is one of the world's largest, private, non-profit biomedical research organizations. It stands at the forefront of basic biomedical science that seeks to comprehend the most fundamental processes of life. Scripps Research is internationally recognized for its research into immunology, molecular and cellular biology, chemistry, neurosciences, autoimmune, cardiovascular, and infectious diseases, and synthetic vaccine development.