FOR IMMEDIATE RELEASE: June 27, 2002	CONTACTS: Tom Gleason Forest City (303) 382-1800 tgleason@fcdenver.com Mo Moorman Scheinkin (303)672-4334 mmoorman@schenkein.com
Forest City Opens First Retail At Stapleton The Home Depot® leads the lineup at Denver’s Quebec Square
Denver—Forest City Enterprises and Mayor Wellington E. Webb today cut a ceremonial “2-by-4” in The Home Depot® at Quebec Square in Denver, opening the first retail at the former Stapleton International Airport, one of the most ambitious mixed-use, urban redevelopments in the nation. Quebec Square is a 740,000 square foot regional retail center that will be part of more than three million square feet of retail master developer Forest City plans for the 4,700-acre former airport property, which will also include 12,000 homes and apartments with 30,000 residents and 10 million square feet of offices to be developed over the next 15 to 20 years. Forest City’s development will be complemented by more than 1,100 acres of new parks and open space in a pedestrian-friendly community of new neighborhoods that were recently awarded the Stockholm Partnership for Sustainable Cities Award for “smart growth.” “Nearly every day that dawns over Stapleton brings new jobs to our community,” said Greg Vilkin, president of Forest City Stapleton, Inc., the wholly owned subsidiary of Forest City Enterprises assigned to redevelop the 7.5 square mile property. “Nearly two thousand construction workers have been at work over the past year since we took title to our first parcel of land at Stapleton, building on the efforts of hundreds of men and women who have already provided us with an array of contract services in design,engineering, legal affairs, environmental analysis, landscaping and other activities. Many of those jobs involve the more than 115 companies owned by women and minorities who are working here at Stapleton. Now, hundreds of retail jobs such as those at The Home Depot® and the more than twenty stores that will soon open their doors at Quebec Square are starting to arrive and expand even farther the benefits of our redevelopment of Stapleton,” Mr. Vilkin added. “The Home Depot® is very proud to open the first retail outlet in the redevelopment of Stapleton and lend our company’s name to promote the physical and economic revitalization of this area,” said Troy Rice, Northwest Division President for The Home Depot®. To mark the occasion of the store’s opening, Mr. Rice presented a contribution from his company in the amount of $2,500 to The Denver Police Athletic League for youth activities. “We’re confident that our presence will help breathe new life into this community and help attract businesspeople, residents and visitors for years to come,” Mr. Rice added. The 115,000-square-foot warehouse center opened by The Home Depot® will encompass newest merchandising and design elements. In addition to traditional hardware, lumber and building materials, the Stapleton Home Depot has an extensive selection of products for interior design such as flooring, lighting, paint and a state-of-the-art-appliance showroom. A kitchen and bath showroom highlights the newest trends in design and several qualified designers are on staff to help customers with decorating needs. The new store also has a 25,000-square-foot outdoor garden center. The Home Depot® anchors Quebec Square along with a Super Wal-Mart and Sam’s Club, which are scheduled to open their doors later this summer. Other retailers opening in coming months include Just For Feet, Borders Books, Office Depot, Linens N’ Things, and Vectra Bank. Also committed to Quebec Square are Doctors Vision Works, Subway Sandwiches, Mattress Factory, Bocaza, Great Clips, and Nail Gazebo, as well as One Hour Quality Cleaners, Party City, Famous Footwear, and Payless Shoes. Arby's, McDonalds, Morgan Tire, International House of Pancakes, and Old Country Buffet will also be part of the lineup at the regional retail center. Founded in 1978, The Home DepotÒ is the world’s largest home improvement specialty retailer and the second largest retailer in the United States, with fiscal 2001 sales of $53.6 billion. The company employs approximately 250,000 associates and has 1,410 stores in 49 states, Puerto Rico, seven Canadian provinces, and Mexico. The company for the second year in a row was named sixth Most Admired Company in America by Fortune magazine, which has also ranked it as America's Most Admired Specialty Retailer for eight consecutive years. Its stock is traded on the New York Stock Exchange (NYSE:HD) and is included in the Dow Jones Industrial Average and Standard & Poor's 500 Index. Forest City Enterprises, Inc. (NYSE:FCEA)(NYSE:FCEB) is a $4.5 billion NYSE-listed real estate company headquartered in Cleveland, Ohio. The Company is principally engaged in the ownership, development, acquisition and management of commercial and residential real estate throughout the United States. The Company's portfolio includes interests in retail centers, apartment communities, office buildings and hotels. The Company's targeted markets include Boston, Denver, Los Angeles, New York, Philadelphia, Richmond, San Francisco and Washington, D. C.