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Proposed Beaverton land sale will not be completed

Beaverton, OR. (11 January, 2005) - NIKE, Inc. today confirmed reports that due to the recent uncertainty created by the City of Beaverton’s annexation actions, it will not execute documents related to completion of a land sale agreement before its formal closing. The approximately fifty-acre land parcel, known locally as Murray Woods and located near the intersection of Murray Boulevard and Jenkins Road, was expected to close for sale on January 15, 2005. A leading national health care provider seeking a Beaverton-area location to serve its clients was purchasing the parcel to develop a medical facility. The facility was expected to become the base for approximately 1,000 -1,500 new, high wage-earning medical professionals -- many of whom were expected to increase overall rider ship for the Tri-Met Light Rail and station near the proposed facility. Nike also has placed a moratorium on any further land sales and significant new building development at its world headquarters pending the outcome of appeals with the Oregon Land Use Board of Appeals (LUBA) and anticipated future civil court actions. In a December 21 2004 statement, NIKE, Inc. stated that it believed that certain of the City of Beaverton’s actual and proposed taking of property “were without the property owners’ approval or a vote of the citizens.” The company also stated, “the actions and treatment by Beaverton are counter to what we would expect as a major employer and Oregon’s only Fortune 500 company.” Nike also stated: “Our positive impact on the City of Beaverton and region over the past 32 years in terms of jobs, taxes, contributions to the local schools and community investments have been significant. However, these aggressive, uncertain annexation actions by Beaverton will impact our ability to assist the region in creating jobs, economic development and needed services. It even impacts our plans for building expansion and land use on our campus.“ Nike was finalizing plans for an expansion of its North Campus, comprised of four new buildings and the addition of 1500 or more new employees within Washington County. Over the past seven years, the company has more than doubled the square footage at its world headquarters, including the building of the Tiger Woods Conference Center. Nike reiterated that it desired the “present stability and predictability that comes with remaining an unincorporated entity within Washington County.” As such, the company would continue to operate under agreements for basic services such as those provided by the Washington County Sheriff’s Office and Tualatin Valley Fire & Rescue. “None of these services to NIKE, Inc. are provided by the City of Beaverton and therefore, do not impact its budget or tax base.” NIKE, Inc. is the world's leading designer, marketer and distributor of authentic athletic footwear, apparel, equipment and accessories for a wide variety of sports and fitness activities. Wholly owned Nike subsidiaries include Converse Inc., which designs, markets and distributes athletic footwear, apparel and accessories; Bauer NIKE Hockey Inc., a leading designer and distributor of hockey equipment; Cole Haan, a leading designer and marketer of luxury shoes, handbags, accessories and coats; Hurley International LLC, which designs, markets and distributes action sports and youth lifestyle footwear, apparel and accessories and Exeter Brands Group LLC, which designs and markets athletic footwear and apparel for the value retail channel. It employs more than 7,000 employees who live and pay taxes in Oregon and Southwest Washington.

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