NEWS RELEASE

NOVEMBER 7, 2006

FOR IMMEDIATE RELEASE, March 7, 2006

Time: 8:15 p.m.

CONTACT: Cherry Creek North, 303.394.2904

CHERRY CREEK NORTH BUSINESS IMPROVEMENT DISTRICT ANNOUNCED "UNOFFICIAL" ELECTION RESULTS

Electors Vote "Yes" for District-Wide Improvements

DENVER—The Cherry Creek North Business Improvement District (CCN BID) announces the unofficial results of the Nov. 7 ‘bond’ election. The count was 146 Yes and 138 No with 19 ballots noted as “provisional.” There were 3 spoiled ballots. Official results will be available after provisional ballots have been reviewed by this Friday, November 10, 2006. A total of 306 electors voted in the district-wide election.

The Cherry Creek North election was designed for one issue: approval for a bond up to $18.5 million in order to add upgrades to the renowned outdoor shopping and dining neighborhood. Proposed improvements included new way-finding (signage), improved lighting and landscaping. Due to the nature of the CCN BID, a bond was necessary in order to fund improvements, as the CCN BID cannot carry debt over multiple years.

"We've had a year of discussion about keeping this important retail district vibrant. I don't expect that discussion to end with this vote,” said City Councilwoman Jeanne Robb. “I would like to thank our constituents who believe in what the CCN Board has presented,” said Daniel Feldman, Cherry Creek North Board Chairman. “We invite all Cherry Creek North property and business owners to roll up their shirt sleeves and continue to offer their good suggestions toward the improvement of Cherry Creek North.”

Additional next steps for the Cherry Creek North Board of Directors and the Cherry Creek North BID staff include interviewing and hiring a new President & CEO and integrating four new board members on to the Cherry Creek North Board of Directors.