In The News

FOR IMMEDIATE RELEASE
April 13, 2007

LAHAM/DEVLIN ANNOUNCE JOINT VENTURE DEVELOPMENT
AT 13TH STREET & GREENWICH ROAD

(WICHITA, KS) - Laham Development and Devlin Enterprises have announced a joint venture on the development of a 95 acre site at 13th Street and Greenwich Road. The master-planned development is located on the northwest corner, from Greenwich Road extending west to the Waterfront development. The announcement was made by George Laham, President of Laham Development and Tom Devlin, CEO and Chair of Devlin Enterprises.

The master-planned development will include a 150,000 square foot Class A office park comprised of up to six individual buildings, a 130,000 square foot shopping center and a residential component. Details of the plan will be unveiled at a later date. The development application was submitted this week to the City of Wichita Planning Department.

The new development will benefit from extensive road improvements under construction in the area. The City has just completed Greenwich Road improvements, widening the street to five lanes from 13th Street north to 29th Street. These road improvements extend along the Greenwich Road frontage of the new development. The City is now in the design phase of an improvement project widening Greenwich Road to five lanes, from 13th Street south to Central. 13th Street is currently under construction with lane widening extending from K-96 east to Andover Road. This project is scheduled for completion in late summer 2007.

Laham and Ritchie Development are also involved in projects on each of the other three corners at 13th Street and Greenwich Road. Plazzio Retail and Entertainment Center, which is located on the southeast corner of the intersection, opened in 2003 and is anchored by the 20-screen Warren Theatre. Plazzio includes the Marriott Residence Inn Hotel, The Alley Indoor Entertainment Center, B.G. Bolton's Grille and Bar, Sumo by Nambara Japanese Grill and the recently opened Cheddar's Casual Café. Construction is underway on the new Freddy's Frozen Custard at Plazzio and will be completed this summer. Plans are yet to be announced for the projects on the intersection's southwest and northeast corners.

Laham Development's other projects include Bradley Fair, a 260,000 square foot lifestyle shopping center and Wilson Estates, a 320 acre master-planned community with Ritchie Development. Regency Lakes, a 400,000 square foot shopping center, is anchored by Super Target and World Market. Cornerstone at 21st Street and Andover Road, a 520 acre master-planned development, is being developed by Laham and Ritchie Development. It includes the Kansas Medical Center general hospital, Andover Elementary School, a 700 home residential area, two shopping centers and an office park.

Tom Devlin is CEO and Chairman of Devlin Enterprises, a Wichita-based private investment company that owns positions in numerous operating companies associated with: retail, service, manufacturing, automobile, fast food, commercial real estate, along with private and publicly held businesses. In 1973, Devlin founded Rent-A-Center, Inc., a rent-to-own electronics, appliance and furniture operation and developed it into the nation's largest rent-to-own chain. Under his leadership as CEO, Rent-A-Center expanded rapidly, was taken public in 1983 and subsequently sold to London, England based conglomerate Thorn EMI in late 1987.

Devlin is also the developer and owner of Flint Hills National Golf Club, a Tom Fazio designed course, which has already hosted several national tournaments for the USGA. He is author of the recently released biography, Playing Through.

Devlin Enterprises real estate investments include upscale residential and commercial properties. Flint Hills National Residences is a 400 acre high-end development surrounding the nationally acclaimed Flint Hills National Golf Club in Andover, Kansas. The private Flint Hills National Residences development is largely viewed as the finest residential development in the area. Devlin is currently progressing on his newest development in Andover, Kansas. The 40 acre Montana Hills project sits on an old rodeo arena site. Montana Hills includes 69 home sites.