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Room & Board to Open Distribution Hub in Lincoln County

Friday, July 14, 2006

Lincoln Economic Development Association announced today that Room & Board will open a 150,000 square foot distribution center on a 20 acre site in the Lincoln County Industrial Park. Today’s announcement further advocates the Lincoln County Industrial Park as the premiere location for industry along the 321 Inter-Connector. “The Lincoln location is in close proximity to our key vendor partners. This hub will allow us to better serve our customers and sets Room & Board up for continued growth and success in the future,” commented Bruce Champeau, Vice President of Operations for Room & Board.

“We are excited that companies of such high quality as Room & Board continue to find Lincoln County as the perfect place for their business,” stated Harold Howard, Jr., Chairman of Lincoln Economic Development Association (LEDA). Barry Matherly, Executive Director of LEDA added, “Once the region discovers Room & Board’s merchandise, they will crave a store in this area.”

The Lincoln County Board of Commissioners continued to demonstrate the importance of supporting industry in the county by passing an incentive grant for the company in June. The county offered Room & Board $149,830 in incentives. This grant will be paid out in equal installments over a five year period. “We are pleased that Room & Board has chosen the Lincoln County Industrial Park for their new facility and we welcome them to Lincoln County. We appreciate this commitment to the economy of Lincoln County and the opportunity it represents for our citizens. I am confident Room & Board will find Lincoln County a very business friendly environment where they will have continued success and the opportunity to expand in the future,” commented Tom Anderson, Chairman of the Lincoln County Board of Commissioners.

Room & Board along with The Keith Corporation as developer will initially invest $7 million in the distribution center. The Keith Corporation will build-to-suit and lease the facility to Room & Board. Construction will commence immediately and the facility is expected to be operational in the first quarter of 2007. Alan Lewis, industrial development partner with The Keith Corporation stated, “We were very impressed with Room & Board’s management team and the prospects for the continued growth of the company. The site allows us to expand the building to over 328,000 square feet in order to accommodate this growth long term in the Lincoln County Industrial Park.”

Tom Hauschild and Dan Johnson with the Tegra Group, a Minneapolis company that specializes in real estate and project management assisted with the real estate transaction. They were assisted locally by John Coleman and Warren Snowdon with Commercial Carolina Cushman & Wakefield.

Room & Board is a 25 year old national home furnishings retailer based in Minneapolis, Minnesota. The company has eight stores in California, Colorado, Illinois, Minnesota and New York. At Room & Board, great design is the combination of everything they’re passionate about. Timeless, well-made home furnishings created for modern living. The finest natural materials. Remarkable value. Strong manufacturing partnerships. Comfortable prices. Easy, satisfying shopping experiences. Visit Room & Board at www.roomandboard.com or call 800.486.6554.

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