Newsletter 151

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PROSKAUER ROSE LLP
Dale A. Schreiber (DS-9211)
Bruce E. Fader (BF-5564)
Allison B. Feld (AF-9464)
1585 Broadway
New York, NY 10036
(212) 969-3000 Attorneys for Plaintiff

UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF NEW YORK



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BLEECKER CHARLES COMPANY,             :       00 Civ. 7827 (GEL)

                         Plaintiff,   :
                                              REPLY DECLARATION
             -against-                :       OF DALE A. SCHREIBER

350 BLEECKER STREET APARTMENT         :
CORPORATION,
                                      :
                         Defendant,
                                      :
             -against-
                                      :
BLEECKER PARKING CORP.,
                                      :
 Additional Counterclaim Defendant.
                                      :
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Dale A. Schreiber hereby declares as follows:

1. I am a member of Proskauer Rose LLP ("Proskauer"), attorneys for Bleecker Charles Company ("the Sponsor") in this action. I submit this declaration in further support of the Sponsor's motion for an order granting the Sponsor its reasonable attorneys' fees and costs incurred in connection with its claims against defendant 350 Bleecker Street Apartment Corporation ("the Co-op") in this action and to place certain documents before this Court.

2. As the lead attorney representing the Sponsor in its dispute with the Co-op, I engaged in settlement discussions with the Co-op's counsel, Robert N. Fass of Friedman Krauss and Zlotolow.

3. In detailed discussions with Mr. Fass, I offered to have Proskauer develop a settlement proposal that would account for the tax and real estate law implications of transferring the Garage Lease from the Sponsor to the Co-op and effect corresponding results on a voluntary basis. Mr. Fass encouraged me to have Proskauer engage in this task.

4. Following my discussions with Mr. Fass, I asked Allison Feld, the litigation associate assigned to the matter, and attorneys in Proskauer's Tax and Real Estate departments to review the Sponsor's proposed settlement terms. I also recommended that the Sponsor engage David Lifson of Hayes & Co. to review the settlement proposal to consider various taxation and valuation issues.

5. A true and correct copy of excerpts from the Sponsor's Brief in Opposition to the Defendant's Cross-Motion for Summary Judgment and Reply in Further Support of its Motion for Summary Judgment, dated June 22, 2001 is annexed hereto as Exhibit 1.

Pursuant to 28 U.S.C. § 1746, I declare under penalty of perjury under the laws of the United States of America that the foregoing is true and correct. Executed this 11th day of March at New York, New York.

/s/ Dale A. Schreiber
Dale A. Schreiber

Exhibit 1

Exhibit 1 is an excerpt from the Plaintiff's memorandum in opposition to Defendant's cross-motion for summary judgment and in further support of its own motion for summary judgment.

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