HTL Heartland Prtns Lp

Heartland Completes Sale of Fife, Washington Property & Declares Cash Distribution CHICAGO, Nov. 14 /PRNewswire-FirstCall/ -- Heartland Partners, L.P. today announced that its operating partnership CMC Heartland Partners has completed the sale of the Fife, Washington property for a total of $13.25 million. The purchaser plans to continue developing the parcel. Lawrence Adelson, chief executive officer of Heartland, said, "As a result of the Fife sale, The Board of Managers of HTI Interests, LLC, the managing general partner of Heartland Partners, has declared a cash distribution of $2.30 per Class A Unit, payable on December 9, 2003, to unitholders of record at November 28, 2003. Proceeds are also being used to pay off debt and for working capital." Heartland Partners' partnership agreement requires that the record date for any distribution be the last business day of a calendar month. "We will continue to make distributions as conditions warrant," Adelson concluded. About Heartland Heartland Partners is a Chicago-based real estate partnership with properties in 12 states, primarily in the upper Midwest and northern United States. CMC Heartland is a subsidiary of Heartland Partners, L.P. CMC is the successor to the Milwaukee Road Railroad, founded in 1847. This news release may contain certain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors that could cause the actual results, performance or achievement of results to differ materially from any future results, performance, or achievements expressed or implied by such forward-looking statements. These factors include, but are not limited to, real estate market conditions, changing demographic conditions, adverse weather conditions and natural disasters, delays in construction schedules, cost overruns, changes in government regulations or requirements, increases in real estate taxes and other local government fees, access to financing, the unpredictability of the timing of real estate sales and the cost of land, materials and labor. DATASOURCE: Heartland Partners, L.P. CONTACT: Lawrence Adelson, Chief Executive Officer of Heartland Partners, L.P., +1-312-575-0400, or Karl Plath or Brien Gately of The Investor Relations Co., +1-847-296-4200

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