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   154 E. Bingen Point Way,   Bingen, WA 98605   509 493-1655   Fax: 509 493-4257   Email: POK@Gorge.net

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Tuesday, February 25, 2003

Port Funds a New Building at Bingen Point



News Release                              2/25/03

For Immediate Release                         Contact: Dianne Sherwood
                                                        Executive Director
                                                       (509) 493-1655
                                                        FAX (509) 493-4257
                                                        e-mail: pok@gorge.net

      Port Funds a New Building at Bingen Point

     The Port of Klickitat has issued $1.1 million in bonds securing funding for
the design and construction project for a new 25,420 + square foot, concrete tilt-
up, light industrial building for Bingen Point. The building will join three other
buildings within the first phase of the Port’s Bingen Point Business Park. The
new facility will be located to the west of Building 1B which was constructed in
2000, and will be similar in design.

     “The issuance of the bonds was the last piece to the financial funding of
the project, which will allow the Port to keep and expand existing tenants” said
Dianne Sherwood, Executive Director. “It is exciting that we will be able to add
much needed jobs to our community by having space to offer to the Port’s
existing tenants and to potential tenants, as well”.

     The Port has been working with DSP Architecture of Vancouver, WA for
the design and construction management of the project. Bell Design Co., of
Bingen, WA, performed the survey for the project. It is anticipated that the
project will be placed out for bid by March 24, with a potential bid opening on
April 11, and a construction start date near May 1, 2003. The anticipated
completion of the construction project is August/September, 2003.

     In addition to the bond funds and Port cash, other funding commitments
for the $2.4 million project include: The Washington State Community Economic
Revitalization Board (CERB) with a $650,000 low interest loan; pre-design and
design grant funding in the amount of $50,000 from the US Forest Service
(USFS) and $50,000 from the Washington State Office of Trade and Economic
Development (OTED); and Klickitat County has pledged $500,000 toward
construction.



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