FOR IMMEDIATE RELEASE Contacts: Mike Smith (703) 623-3834
June 21, 2004 Laura Van Eperen
(240) 994-7541

NORTHERN VIRGINIA MAJOR LEAGUE
BASEBALL BALLPARK SITE & FINANCING UNVEILED

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Virginia Baseball Stadium Authority, Virginia Baseball Club, Diamond Lake Associates , and Loudoun County To Bring Major League Baseball to Region

Loudoun County, VA – Today at the request of Loudoun County elected officials, the Virginia Baseball Stadium Authority (VBSA), Virginia Baseball Club (VBC), and Diamond Lake Associates, unveiled the most compelling site and financing package for the Montreal Expos as Major League Baseball (MLB) makes its final decision about relocating the franchise to a new market. The ballpark site will be called ‘ Diamond Lake .'

“Virginia is ready right now to bring Major League Baseball here,” said VBSA Chairman Keith Frederick. “As soon as Commissioner Bud Selig gives us the word, we are ready to deliver,” said Frederick . “ Virginia needs no new taxes and no new legislation to make this baseball dream finally come true.”

Diamond Lake Associates will build a 42,500 seat ballpark as part of a unique New Town Center mixed-use development on vacant land near Dulles International Airport . The mixed-use development will include the ballpark, retail, commercial, and residential space.

The Stadium Authority confirmed earlier reports that participation by Diamond Lake Associates will reduce construction costs for the ballpark to $360 million. That is a level funded completely by revenues generated by the baseball team and ballpark operations previously enacted into Virginia law.

“We have an exceptional location, a completed financing package, indisputable demographic evidence, and ample distance from Baltimore to make the relocated franchise successful long-term,” said Bill Collins of VBC. “This is the best market for the Montreal Expos.

All the other markets pale in comparison.”

Loudoun County 's Board of Supervisors Chairman Scott York underscored the importance of the Northern Virginia location. “There is no better community in America to host Major League Baseball's relocating franchise because of the compelling corporate growth and population of residents living in the area. As we know, both are critical to the success of a ball club.”

Demographic data indicates Loudoun County is the fastest growing jurisdiction in the U.S. and part of the 6 th largest metropolitan area with a population of two million within 20 miles of the site. The area also has nearly 37,000 businesses within 10 miles and employment figures of more than 650,000 growing to nearly 750,000 by 2010. Further, the average annual household income within 10 miles of the site is $150,000.

The Diamond Lake site is positioned at the intersections of the Dulles Toll Road and Route 28 and a future extension of the area's public rail system.

According to Loudoun County Vice Chairman Bruce Tulloch: “The Board of Supervisors and I are committed to improving the quality of life for Loudoun County residents. It will be 2008 before the ballpark opens and we will be specifically attentive to addressing game day traffic.”

“This is the right use… at the right place…at the right time. Diamond Lake will be a new paradigm for where major league ballparks are located and a new model for urban-style town centers,” added Larry Bensignor, Chairman of Diamond Lake Associates. The organization is comprised of Van Metre Co. of Virginia, Beazer Homes of Atlanta and Centex Corp. of Dallas .

Major League Baseball is expected to decide on a permanent new home for the Montreal Expos later this summer. The Expos franchise has been owned and operated by Major League Baseball since February 2002 and has played a fourth of its “home” games in San Juan, Puerto Rico for the past two seasons. A Relocation Committee appointed by Commissioner Selig in late 2002 is reportedly now preparing its final recommendation for the Expos' new home.

For more information, contact Mike Smith at (703) 623-3834 or Laura Van Eperen at (240) 994-7541.