CONTACT:  Sharon G. Kebe                                   FOR IMMEDIATE RELEASE
          (513) 771-8287



                       GLOBE BUSINESS RESOURCES ANNOUNCES
                   A DEFINITIVE AGREEMENT FOR SALE OF COMPANY
                       AND RELEASES THIRD QUARTER EARNINGS



     CINCINNATI,  January 14, 2000 - Earlier today it was  announced  that Globe
Business Resources,  Inc. (NASDAQ:GLBE) entered into a definitive agreement with
Equity Residential  Properties Trust (NYSE:EQR) for the sale of Globe for $13.00
per share  (cash)  upon  closing  and up to an  additional  $.50 per share  post
closing,  upon final  determination of costs, if any,  relating to any potential
breaches  of  certain  representations  and  covenants.  The  agreement  must be
approved by Globe  shareholders and is subject to customary closing  conditions.
Equity  Residential is the largest publicly traded apartment company in America.
Nationwide, Equity Residential owns or has an interest in 1,062 properties in 35
states consisting of 226,152 units.

     Globe's principals,  Chairman and Chief Executive Officer, David D. Hoguet,
and  President  and Chief  Operating  Officer,  Blair D.  Neller,  will retain a
minority  interest in Globe and will continue to operate the  business.  "Equity
Residential's over 225,000  multifamily units and over 750,000 residents offer a
tremendous  window  of  opportunity.  We will  harvest  that  opportunity  while
continuing to expand our relationships  with our corporate  customers across the
industry," said Mr. Hoguet.  Equity Residential's  President and Chief Executive
Officer,  Douglas  Crocker II, said,  "We continue to build on our position as a
leading  provider of rental housing  across the nation by  selectively  choosing
opportunities  that  complement our business.  We see  tremendous  potential for
marketing synergies between Equity Residential and Globe,  especially the use of
Globe's 1-800-FOR-RENT(R) reservation system."

     Globe  reported  that for the third  quarter of fiscal  2000,  which  ended
November  30,  1999,  diluted  earnings  per share were 8 cents (16 cents before
nonrecurring  items),  as compared with 31 cents per share for the quarter ended
November  30,  1998.  Diluted  earnings  per share for the first nine  months of
fiscal 2000 were 58 cents (76 cents before  nonrecurring items) as compared with
90 cents per share for the first nine months of fiscal 1999.

     Revenues of $39.3 million for the third quarter of fiscal 2000 increased 3%
from $38.2 million in the third  quarter of fiscal 1999.  Revenues for the first
nine months of fiscal 2000 reached $122.6  million,  an 11% increase from $110.8
million for the first nine months of fiscal 1999.  Corporate  housing  revenues,
aided by  acquisitions,  reached  $25.6  million and $80.8 million for the third
quarter and first nine months of fiscal 2000, respectively, increases of 11% and
25%, respectively, versus the comparable fiscal 1999 periods.


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     Globe Business Resources,  Inc., is a leading consolidator in the temporary
relocation industry.  Doing business as Globe Corporate Stay International,  the
Company is the third largest operator in the corporate housing market, providing
fully furnished  short-term housing through an inventory of leased housing units
to relocated,  transferred  and  temporary  personnel.  Doing  business as Globe
Furniture Rentals, the Company is the third largest operator in the rent-to-rent
segment of the furniture  rental business renting and selling quality office and
residential furniture to a variety of corporate and individual customers.

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