MERGER TO CREATE UTAH'S LARGEST ARCHITECTURAL FIRM

Jensen Haslem P.C. and Thomas Petersen Hammond Architects to Become Architectural Nexus, New Firm Secures $150 Million in Projects

SALT LAKE CITY (Oct. 29, 2002) - Jensen Haslem P.C. and Thomas Petersen Hammond Architects, today announced the two firms will merge to form Architectural Nexus, one of the Intermountain West's principal architectural firms and the largest in Utah.

The new firm offers sophisticated design and deep technical expertise with specialties in health care, research, education, resort and housing, commercial, religious and governmental projects. The new Company, which is working under the umbrella of Architectural Nexus d.b.a. until the merger takes effect Jan. 1, 2003, has secured more than $150 million in projects and is in serious consideration for an additional $300 million since joining forces in late September.

"In today's economy, the benefit of most mergers takes years to determine. In our case it has taken only weeks," said Tom Jensen, Chairman, Architectural Nexus. "Our size and depth of expertise and capabilities allows us to compete for larger projects in an expanded geographic area and, more importantly, provide a higher level of service to our long-time clients."

The merger of Jensen Haslem P.C. and Thomas Petersen Hammond Architects is the result of past partnerships between the two firms as well as successful joint business development ventures. The two companies have been working together since 1999 on the University of Utah Health Sciences Campus. Those projects include the programming for the John A. Moran Eye Center II, the Emma Eccles Jones Medical Sciences Building, as well as the design for the Eccles Critical Care Pavilion. As Architectural Nexus d.b.a., the firm has secured several projects including the University of Utah Orthopedic Hospital; Mercy Medical Hospital, Durango, Colo.; Pahrump Hospital, Pahrump, Nev.; Woodland Park Hospital, Woodland, Colo.; and the Carson/Tahoe Specialty Hospital, Carson City, Nev.

Architectural Nexus will have more than 100 employees when the merger is complete. The firm will move to new offices at 1300 East and 2150 South, where more than 80 specialists will be headquartered. The additional 20 specialists will work out of Architectural Nexus's Logan office.

"The word Nexus has Latin origins meaning joining, binding or connecting," said Jack Hammond, Principal, Architectural Nexus. "We are connecting two prominent architectural firms that enjoy working together and share a similar philosophy and work ethic. The merits of this winning combination are already apparent with the projects we are winning and the enthusiasm of our staff."

Jensen Haslem P.C. and Thomas Petersen Hammond Architects share a portfolio of high-profile projects including, the Huntsman Cancer Institute, recent addition to Abravanel Hall, Salt Lake Community College's Student Pavilion, the University of Utah Eccles Critical Care Pavilion and the Biomedical Polymers Research Facility.

About Architectural Nexus

Architectural Nexus is one the Intermountain West's principal architectural firms formed by the merger of Jensen Haslem P.C. and Thomas Petersen Hammond Architects. The Company offers sophisticated design and deep technical expertise with specialties in health care, research, education, resort and housing, commercial, religious and governmental projects. With more than 100 dedicated specialists, Architectural Nexus manages projects for a wide variety of companies and organizations including Intermountain Health Care, University of Utah Health Science Campus, Utah State University, Brigham Young University, NuSkin Enterprises, Granite School District, Woodbury Corporation, The Church of Jesus Christ of Latter-Day Saints and Swire Coca-Cola. The Company's signature projects include the Huntsman Cancer Institute, recent addition to Abravanel Hall, Salt Lake Community College Student Pavilion, the University of Utah Eccles Critical Care Pavilion, and the Biomedical Polymers Research Facility. For more information about Architectural Nexus please call 801-474-1400.

Press Contact:
Chris Thomas
801.481.9482