September 16, 2008 HIGHLY CONFIDENTIAL Mrs. Laura Clark Vice President Inland Capital Markets Group, Inc. Atlanta, GA 30339 Re: Non-Disclosure Agreement Dear Laura:Inland American Real Estate Trust, Inc. • September 18th, 2008 • Real estate investment trusts • New York
We understand that you and certain persons affiliated with the Inland Real Estate Group of Companies, Inc. (“IREGC”) own approximately 6.9% of our common stock and one of such affiliates is acquiring an additional approximate 2.8% of our common stock and that, while you are presently not making any proposals to the undersigned, you would like to conduct due diligence to propose a possible transaction which may include a purchase of additional shares of our common stock, the acquisition of all of the outstanding shares of our common stock, a joint venture or other strategic transaction or a merger with us. In connection with your evaluation of whether to propose such a possible transaction (the “Possible Transaction”) between you and/or an entity affiliated with IREGC who owns our common stock as of the date hereof or a subsidiary thereof, on the one hand (“Inland,” “you” or “your”), and CapLease, Inc. and/or one or more of its subsidiaries, affiliates, Representatives (as defined below
JOINT FILING AGREEMENTJoint Filing Agreement • September 18th, 2008 • Inland American Real Estate Trust, Inc. • Real estate investment trusts
This agreement may be executed in counterparts, each of which when so executed shall be deemed to be an original, and all of which together shall be deemed to constitute one and the same instrument.
