Flexcar Brings Car-Sharing to the Rockies

DENVER--Jan. 2, 20046, 2004--Living and/or working in or near Stapleton, one of the nation's largest urban developments, just got better -- it now comes with wheels. Flexcar, the nation's oldest and largest car-sharing company, today announced its expansion into the Denver area through a unique partnership with Stapleton's master developer, Forest City Stapleton, Inc.

Flexcar has located two brand new gas/electric Honda Civic Hybrid sedans at Stapleton for use on an hourly basis. The new Flexcar program will become an important part of Stapleton's ongoing commitment to create a sustainable community, not only to enhance the quality of life for people today, but also to ensure that the needs of future generations can be met.

The largest urban development in the nation, Stapleton is a tapestry of homes, shops, offices, parks and schools in a walkable community. Flexcar complements this smart design with a practical service for people who only need a car part-time. As part of its commitment to the greater community, Stapleton is making the cars available to non-residents as well.

Flexcar's innovative program provides its members with access to a fleet of environmentally friendly vehicles located throughout selected metropolitan areas. Members reserve the vehicles via the Internet or by phone for hourly use, with Flexcar covering the cost of the car, gas, parking, insurance and maintenance. Members access the cars via a specially coded Smartcard, and pay hourly or monthly for use of the vehicles.

"Clearly, Forest City Stapleton is at the forefront of smart and sustainable development, setting a great example for others to follow," said Lance Ayrault, president of Flexcar. "Walkable communities that are connected to transit and offer car-sharing represent the next phase of urban development. We are proud to be a partner in bringing clean transportation options to Stapleton residents and the community at large."

Used in conjunction with public transit, car/vanpools and walking/biking, car-sharing helps individuals meet their transportation needs in an economic and environmentally responsible manner, giving them the freedom of car ownership without the associated cost and hassles.

"We chose Flexcar as a partner in this project because of its history and experience leading the car-sharing industry," said John Lehigh, chief operating officer of Forest City Stapleton, Inc. "But even more important is the company's ongoing commitment to using environmentally friendly vehicles like the new Honda Civic Hybrid to make an already strong program even better. We are confident our residents and the community will find Flexcar to be a valuable amenity that enhances our overall commitment to sustainability at Stapleton," Lehigh added.

Following a successful European model, Flexcar launched its Seattle operations in 2000, and has since won numerous awards and commendations for its program that reduces congestion, air pollution and energy use, while increasing use of public transportation and contributing to sustainable communities.

More information on Flexcar, including how to join, is available at the company's Website (www.flexcar.com) or via e-mail at info_denver@flexcar.com.

Flexcar

Headquartered in Seattle, Flexcar now operates car-sharing programs for more than 18,000 members in more than a dozen cities and counties in six states and the District of Columbia. With flexible pricing plans, members can reserve and drive any of these cars whenever and wherever they need to, without filling out complicated paperwork, paying for insurance, gas or repairs. Flexcar Business Memberships enable companies to augment or replace their fleet with Flexcar vehicles. Flexcar's modern fleet includes sedans, gas-electric hybrids, electric cars and specialty vehicles, including pickups and convertibles. Flexcar has established strategic partnerships with King County (Wash.) Metro, the Washington Metropolitan Area Transit Authority (WMATA), Parsons Transportation Group, Bristol Bay Native Corporation and American Honda Motor Company, Inc.

Editor's Note: Correct spelling and punctuation is "Flexcar", not FlexCar, Flex-car, Flex Car or Flexicar.

Stapleton

Stapleton's 4,700 acres, or 7.5 square miles, is the nation's largest urban infill development. Stapleton is planned for more than 12,000 homes and apartments, 3 million square feet of regional and town center retail space and 10 million square feet of office/research and development/industrial space, as well as over 1,000 acres of regional parks and open space. When fully developed in 20 years, the value of the new development at Stapleton could exceed $5 billion. Centrally located 10 minutes east of Downtown Denver and 20 minutes from Denver International Airport, Stapleton will be home to 30,000 residents and 35,000 workers when complete. The master developer for Stapleton is Forest City Stapleton, Inc., a wholly owned subsidiary of Forest City Enterprises, Inc. Forest City is a $5.7 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 in 22 states and the District of Columbia.