Paul Hastings Represents Related Companies Chairman and CEO in 50% Purchase of the Miami Dolphins Franchise

February 25, 2008

New York, NY (February 25, 2008) Paul, Hastings, Janofsky & Walker LLP, a leading international law firm, announced today that the firm represented Stephen Ross, Chairman and CEO of the Related Companies, in the 50% purchase of the Miami Dolphins franchise, Dolphin Stadium and certain adjacent real estate. The transaction, subject to NFL approval, was signed on February 22, 2008. It is valued at approximately $1.1 billion.

New York of counsel Marty Edelman and partner Bob Wertheimer led the Paul Hastings team, which included partner Charles Baker, of counsel Michael Kupin and associate Randy Merkelson. Paul Hastings collaborated with co-counsel Bingham McCutchen LLP on the transaction who were led by Jonathan Bernstein, Steven Taibl, James Black and John Concannon.

Prior to the transaction, H. Wayne Huizenga, an individual and resident of Florida, owned (directly and indirectly) 100% of the outstanding equity interests in the Miami Dolphins franchise, Dolphin Stadium and certain adjacent real estate including County Line South Properties, Ltd. and Dolphin Center Properties.

Paul, Hastings, Janofsky & Walker LLP, founded in 1951, is a leading international law firm with over 1,200 attorneys in 18 offices. The firm serves a diverse client base including many of the leading global financial institutions and Fortune 500 companies and offers deep capabilities in capital markets, finance and restructuring, intellectual property, international arbitration and dispute resolution, investment management, labor and employment, mergers and acquisitions, private equity, product liability, project finance, real estate, securities litigation and tax advisory services. For additional information, please visit our website at www.paulhastings.com.

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