For Immediate Release
July 25, 2002

Klamath Falls, Ore - TimberMill Shores in Klamath Falls, Oregon expands site by four and a half acres KLAMATH FALLS, Ore. - Pine Cone LLC, developer of the new TimberMill Shores mixed-use community in Klamath Falls, has acquired an additional four and a half acres of land to round out a parcel on the southeastern side of the project site. The additional land was purchased from the Union Pacific Railroad, according to Rob Shaw, managing partner of Pine Cone LLC. Shaw said that with the newly acquired land, there's room to locate a 60,000-square-foot building plus parking on the site. "We'll be actively seeking a large tenant" for the site, Shaw said, adding that the tenant might be either a large retail store or a supermarket. "With the parcel completed, we now have an ideal site for such a tenant," he said. "It's visible and easily accessed from 5th Street," a heavily traveled downtown Klamath Falls route. Shaw indicated that several prospective occupants already have shown interest in the site. In addition, site preparation is now underway for a 16,000-square-foot office building for AmeriTitle Inc. TimberMill Shores adjoins the downtown area of Klamath Falls, a southern Oregon city near Ashland and Medford. The first phase is being built on a 40-acre ?brownfield? site formerly occupied by the Modoc Lumber Co. and other industrial users. It is located on the eastern shore of Lake Ewauna and enjoys dramatic lake and mountain views. The City of Klamath Falls has approved a new mixed-use zone to allow redevelopment of the site for a variety of uses including residences, shops, hotels, theaters, offices, parks, and manufacturing. Pine Cone LLC owns an additional 180 acres along both shores of Lake Ewauna, and the developers plan to restore about 100 acres to its original condition as wetlands, providing better habitat for fish, waterfowl and other wildlife. Plans also include a park running along the shore of Lake Ewauna, with a pedestrian and bike trail. For information about buying or leasing in TimberMill Shores, contact Gardner Williams at Compass Commercial, (541) 383-2444, e-mail gwilliams@compasscommercial.com

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