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Importance of Oil & Gas Industry to Pittsburgh Region

PITTSBURGH — (May 20, 2013) — Carrie S. Holstead, President and CEO of Carrie S. Holstead Real Estate Consultants, Inc./ITRA Global and Immediate Past Chairman of the Board of Directorsfor ITRA Global, one of the largest real estate organizations in the world devoted to representing users of corporate space, has released a study which documents the critical role that Marcellus and Utica Shale play on commercialreal estate in the Pittsburgh, Pennsylvania area.

“The oil and gas boom has had one of the greatest financial influences on Pittsburgh since the heyday of the steel industry,” Holstead says. “Our ongoing analysis of this critical component in the economy revealsthe nearly half billion dollar recent impact oil and gas companies have had on the commercial real estate market, which is just the beginning if insiders indicating this is a one hundred year phenomenon are to be believed.