Warburg to Sell Price Legacy Securities

Warburg, Pincus Equity Partners LP and certain affiliates have agreed to sell all Price Legacy Corp. securities held by them to The Price Group LLC or its assignees, according to Price Legacy, a San Diego-based real estate investment trust.Price Legacy said the securities include approximately 18 million shares of series B preferred stock, 5.0 million shares of common stock, and warrants to purchase 2.5 million shares of common stock. The shopping center REIT said The Price Group, a significant stockholder in Price Legacy, intends to assign the contractual right to buy Warburg's securities to third parties in a manner that ensures that the ownership will comply with the REIT ownership limits in Price Legacy's charter. The REIT can be found online at http://www.pricelegacy.com.