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JOINT FILING AGREEMENT
In accordance with Rule 13d-1(k) under the Securities Exchange Act of
1934, as amended, the undersigned agree to the joint filing on behalf of each of
them of a statement on Schedule 13G (including amendments thereto) with respect
to the Common Stock of Philips International Realty Corp. and further agree that
this agreement be included as an exhibit to such filing. Each party to the
agreement expressly authorizes each other party to file on its behalf any and
all amendments to such statement. Each party to this agreement agrees that this
joint filing agreement may be signed in counterparts.
In evidence whereof, the undersigned have caused this Agreement to be
executed on their behalf this 13th day of November, 2000.
AEW CAPITAL MANAGEMENT, L.P.
By: AEW Capital Management, Inc., its
general partner
By: /s/ James J. Finnegan
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Name: James J. Finnegan
Title: Vice President
AEW CAPITAL MANAGEMENT, INC.
By: /s/ James J. Finnegan
---------------------------------
Name: James J. Finnegan
Title: Vice President
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