FOWM Press Release — 11/09/07

PRESS RELEASE

Friends Of Waterfront Market Says
"Keeping Waterfront Market Open Essential"
Community-based Group Forms; Announces Plan

KEY WEST, FL — A group of concerned citizens announced today the formation of a community-based initiative called Friends of Waterfront Market. The purpose of the founding of the group is to spearhead the movement to keep Waterfront Market open.

In order to make this happen, the group, composed of a mix of community leaders, residents, and business owners, has developed a plan to raise $1.5 million to buy Waterfront Market. The plan calls for a campaign which individually targets the three vital component of the Key West community for support: Residents, neighbors, and families; the 120+ wholesale accounts of Waterfront Market, including restaurants, hotels, guesthouses, bed and breakfasts, and institutional customers; and patron investors who recognize the important contribution which Waterfront Market adds to the quality of life of our Key West community.

An escrow account has be set up under the name of Friends of Waterfront Market at TIB Bank. This fund will be administered by local attorney Robert Citron and all funds will be used exclusively toward the purchase of Waterfront Market. In the event the group chooses to cease pursuing the initiative (another buyer coming through, etc.), all monies will be returned to those who contributed.

A website has been established — www.waterfrontmarketkw.com — for news and information on this effort.

"It is the view of The Friends of the Waterfront Market that our community cannot abide with Waterfront Market's potential closing," says group spokesperson Richard Tallmadge. "The Key West Historic Bight needs Waterfront Market for what it brings to the Bight. The Key West business community of restaurants, hotels and bed and breakfasts' needs the market for the superior quality produce and products it brings to the table. The citizens of Key West need the market because like our community it is truly unique. In other words, the Market is an integral part of Key West's tapestry and to sit idly by and let that happen would be a crushing mistake."


For further information, contact
Richard Tallmadge
305-395-2456
waterfrontmarket@gmail.com
www.waterfrontmarketkw.com

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