COLUMBUS -- The Ohio State University has contracted with The Galbreath Company for real estate services to market and sell
the Firestone property near Akron. The Galbreath firm was chosen from a group of four large real estate firms which responded to a
request for proposals to provide the services.

Key determinants in the selection of The Galbreath Company were its: record and reputation for handling large transactions;
responsiveness to the university's need to sell the property expeditiously; willingness and ability to work with the local
community; and competitive, value-added pricing for its services, said Robert Haverkamp, special assistant to Ohio State's vice
president for business and administration.

The Firestone estate, some 1,500 largely undeveloped acres mostly in Bath Township of Summit County, was acquired by the
university in January 1995 in compliance with an agreement made in 1987 with the late Raymond C. Firestone. The university
agreed to buy the property for $5 million upon Mr. Firestone's death, which occurred in September 1994.

Mr. Firestone's stated intention was that Ohio State sell the property, which had an estimated market value of about $8
million at the time of the agreement. Then, the university would invest the proceeds in its endowment fund, where it would earn
income for university projects in perpetuity.

Over the past year, Ohio State and its Board of Trustees have studied how to handle disposition of the property in a
manner that is sensitive to the wishes of Bath Township residents and meets the trustees' fiduciary obligation.

The university needs to begin the sales process now to minimize its holding costs and to realize the benefits Mr.
Firestone intended.

The university needs the assistance of a firm experienced in large land sales of this kind to handle the marketing and sale
of the property.

It is the strong desire of the university to find a buyer who will develop the land in a manner that is environmentally
responsible and aesthetically compatible with the surrounding area.

"We are retaining the right to reject any offer if the proposed buyer does not have, in our estimation, a sincere
commitment to responsible development," said Trustee David Brennan. "We also have a financial responsibility to the
university, as well as a moral obligation to fulfill the wishes of Raymond Firestone, who wanted this land to benefit Ohio State,
and through the university, all the citizens of Ohio."

The Galbreath Company has been instructed to seek sale of the property within six months. As part of the sales process,
the firm will hold an open meeting in Bath Township in January to explain its plans and procedures.