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Friends of LOVE Park Announces Major Gift

folp

FOR IMMEDIATE RELEASE

Contact: Andrew Hohns
215-796-2366

JUNE 1st, 2004

FRIENDS OF LOVE PARK ANNOUNCES MAJOR GIFT

SECURES $1 MILLION CASH CONTRIBUTION FROM A $1 BILLION COMPANY

PHILADELPHIA Just months after its formal incorporation, the non-profit Friends of LOVE Park has completed negotiations with DC Shoes, a Vista, California, shoe manufacturer, securing a major gift for the maintenance and upkeep of LOVE Park. The full details of the gift will be announced at a press conference today, at 1pm, in LOVE Park.

Board Members of the Friends of LOVE Park (FOLP), executives from DC Shoes, elected officials, civic activists, and political leaders will be on hand to offer information and answer questions regarding this major investment. The gift, representing both financial and in-kind support, amounts to a minimum $1MM cash commitment to the Park for the next 10 years.

The $1MM commitment, restricted in use to supporting the activities of the Friends of LOVE Park, is conditioned on the City's adoption of FOLP's "Balanced Solution" to permit skateboarding in LOVE Park. The Friends of LOVE Park, an offspring of last summer's much publicized effort to drum up public and political support to return skateboarding to the world-famous site, was incorporated this year by its three founding organizations, Young Involved Philadelphia, the Skateboard Advocacy Network, and the Independence Hall Association.

"We are absolutely thrilled to have secured this kind of private philanthropy for a recreational resource when most of the City is facing substantial cut-backs in these types of activities," said Andrew Hohns, a board member for Friends of LOVE Park, and co-founder of YIP. "Working with the Managing Director's Office over the past seven months has been an absolute pleasure, and we have had the opportunity to substantially refine our plan in reaction to a lot of great suggestions they've offered. To secure a gift of this magnitude in these tough budget times demonstrates the enormous resonance of skateboarding at LOVE Park to the global youth community."

"The kids have done it again," said labor leader and Democratic Party treasurer John J. Dougherty. "This kind of investment in public resources represents the type of creative thinking and public-private partnerships that will push our City forward. In the end, this means more jobs for our members, more commerce on our streets, and more vitality for our City."

In addition to support from organized labor, the Friends of LOVE Park's balanced solution has earned the support of City Controller Jonathan Saidel, numerous Councilmembers including Majority Leader Jannie Blackwell and Parks and Recreation Committee Chair Blondell Reynolds Brown, the Logan Square Neighbors Association, and many other civic associations and public interest groups.

"As Chairwoman of the City Council Committee on Parks, Recreation, & Cultural Affairs, I have strong feeling of gratitude for companies willing to make a significant investment in our parks," exclaimed Councilwoman Blondell Reynolds Brown. "Businesses have an important role to play in assisting our green spaces and parks to thrive. Many thanks to DC Shoes for their willingness to invest in LOVE Park."

City Controller Jonathan Saidel shared the enthusiasm, adding, "with all of the budgetary challenges we're facing, innovative solutions like this present tremendous opportunities for the City of Philadelphia. Our city has a real opportunity here let's seize it."

The Friends of LOVE Park is an incorporated Pennsylvania non-profit dedicated to providing resources for the maintenance and upkeep of the park as a mixed-use skateboard friendly destination. DC Shoes is a subsidiary of Quiksilver Apparel, a $1.27 billion publicly traded apparel and accessories manufacturer (NYSE: ZQK). Their announcement of this gift will follow under separate cover.

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