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FOR IMMEDIATE RELEASE
November 28, 2005

NEW ANDOVER SCHOOL TO BE BUILT AT CORNERSTONE DEVELOPMENT

(WICHITA, KS) – Plans have been announced by the Andover School District for a new school at the 520-acre Cornerstone development in Andover. A project of Laham Development and Ritchie Development, Cornerstone is located north of 21st Street between 159th Street East and Andover Road. The school will join the already-announced Kansas Medical Center, a 70-bed acute care, general hospital that is under construction. The hospital is a state of the art health care facility providing medical, surgical and emergency services.

"We think the school really solidifies Cornerstone as a community development," says Cathy Erickson, vice president of Laham Development. The 550-student school for kindergarten through fifth grade will be located on the west side of the development and be open by fall 2007.  Ritchie Development is beginning construction on the first two neighborhoods of a planned 750-house development. "Anytime you can get back to the old-fashioned values of having your kids be able to walk to school, that is a huge plus," says Jack Ritchie, chief executive at Ritchie Development.

According to Mark Evans, Andover school superintendent, "Schools typically don't become partners with planned developments. It requires a lot more time and energy to figure out how the arrangement will work," says Evans.

"In the end though, I think Cornerstone is going to make for a really wonderful school site."

Cornerstone encompasses 85 acres of commercial, office and garden-style apartments along with 435 acres of residential housing. The first commercial parcel at the corner of 21st & Andover Road is designed as a 45-acre grocery-anchored retail center that will include retail, restaurants and financial institutions. West of the retail development will be the entrance to the single-family development. A 15-acre garden-style apartment complex is also planned. All of the commercial projects are being developed by Laham Development.

Ritchie Development's 435-acre residential component will consist of approximately 750 single-family homes ranging in price from $90,000 to $500,000. The residences at Cornerstone will consist of individual neighborhoods within the master planned community. Amenities such as lakes, parks, swimming pools and walking paths, the hallmark of Ritchie communities, will be included.

J.P. Weigand & Sons is the exclusive broker for the commercial properties.

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