NEWS RELEASE

OCTOBER 21, 2008

FOR IMMEDIATE RELEASE, October 21, 2008

CONTACT: Cherry Creek North, 303.394.2904

CHERRY CREEK NORTH BUSINESS IMPROVEMENT DISTRICT SELLS $9.25 MILLION BONDS

DENVER—The Cherry Creek North Business Improvement District (BID), located in Denver, CO., today announced the sale of $9.25 million in general obligation bonds at a net interest rate of 4.90%.

Bond proceeds will finance the Cherry Creek North BID Capital Improvements program for district-wide upgrades including signage, wayfinding, lighting and enhanced streetscape.

In late September 2008, Cherry Creek North received an A+ rating by Standard & Poor’s and an A- rating by Fitch. The high marks were attributed to the district’s long-time property ownership, a new management team, tenure among businesses and strong demographics to support the retail and service levels.