FOR IMMEDIATE RELEASE

                                                                                          October 31, 2007

Carpionato-LaBossiere Properties Withdraws Washington Street Zone Change Application at Request of Sponsors

Carpionato-Labossiere Properties, LLC (“Carpionato-Labossiere”) announced today that the company was withdrawing its application to the Norwich City Council for a zoning map change to facilitate the development of a 20,000 square foot retail project on seven Washington Street properties located on State Routes 2 and 32 across from Backus Hospital.  The $9 million project was expected to include retail outlets for a national pharmacy, a local bank, and a national coffee shop.  The company intends to submit a brief letter to the City Council this afternoon stating that the application has been withdrawn, that the matter should be removed from the Council’s agenda for its November 19, 2007 meeting, and that it will not be resubmitted.

Dominic Carpionato, a principal with the company, remarked that the withdrawal was made at the request of Councilpersons Jacqueline Caron, John Crooks and Larry Goldman, the original sponsors of the application.  Mr. Carpionato added that “the withdrawal was the right thing to do at this time.  Out of respect for our sponsors and considering the controversial and divisive nature of this proposal, we agreed that withdrawing our application and plans for the project was in the best interests of the community as a whole.  The project had become a distraction from other important issues facing the City.  While we are abandoning this neighborhood commercial project at this location, we are going to try to keep this development in Norwich and relocate it to another area where the appropriate zoning is already in place.”

Rob Labossiere, also a principal with the company, indicated that the results of a city-wide poll commissioned by his company last week by a national pollster contributed to his company’s decision to withdraw.  “The poll showed that 75% of city residents believe that city officials need to continue promoting commercial activity and economic development in Norwich.  The poll further indicated that 53% approved of the job that Mayor Ben Lathrop was doing and only 19% disapproved.  It was also clear, however, that a majority of people did not support a zone change along Washington Street.  We interpreted these results as indicating that Norwich is heading in the right direction, that the Mayor and the sitting Council are on the right track in promoting commercial activity and economic growth, but that this project was not advancing the significant progress that has been made in recent years.”

Carpionato-Labossiere Properties and its affiliates have been active in economic development initiatives in the City for several years. The company has already invested over $30 million in new residential and commercial projects including a 20,000 square foot retail center approved this fall on Salem Turnpike.  Mr. Carpionato stated “we believe in Norwich and want remain part of its continued revitalization.  We greatly appreciate the courage that our sponsors showed in an election year by allowing our proposal to be brought to the table, but we are also willing to listen to the community and have decided to do what is right by withdrawing our proposal.”