RELEASED: May 5, 2005

DANVILLE, KY—Centre College has reached an agreement with Audrey and Richard Haisfield, owners of the Hub-Frankel Building, to move the College's bookstore into the downtown Danville landmark, College officials announced last week.

The preparations for the move will take place over the summer, and plans call for the bookstore to open for business in the new location in the fall of 2005, to coincide with the beginning of the school year.

The agreement also involves the Follett Corporation, which currently operates the Centre bookstore and will continue to do so in the new location.

Conversations are still in process between the Haisfields and a Lexington-based cafe owner about plans for a bookstore cafe.

Centre President John Roush hailed the move as "a win-win" for the college and town. "The experience we will provide to students and our community—current and prospective—will be superior in the new location, and a chance to help our city and its downtown keep the momentum going and reinvigorate itself was an opportunity not to be missed. I firmly believe that what's good for the community is good for Centre College."

"We're excited about partnering with the Haisfields and Follett and the downtown community in a joint effort to revitalize Danville," said Kay L. Drake, Centre director of human resources and administrative services, who noted that in negotiating the agreement, the College had three goals:

1) that the transaction be financially neutral for the College;
2) that it gain expanded hours and expanded product selection for students, faculty and staffmembers, and community members;
3) that the College partner with Danville in such a way as to contribute to and enhance the momentum for a revitalized downtown.

According to Roush, "We achieved all these goals, and while the arrangement is financially neutral for the College from a revenue/expense point of view, it is not resource neutral in that the building currently housing the bookstore will be freed up for whatever use may seem most appropriate in the future."
Roush further noted that the Haisfields are familiar with Danville, and that their regard for Centre played a significant role in the decision to invest in the community. "They hope to expand options in the downtown in a way that both reflects the quality for which Centre is known and generates excitement and interest," he added.

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Founded in 1819, Centre College is ranked among the U.S. News top 50 national liberal arts colleges. Centre alumni, known for their nation-leading loyalty in annual financial support, include two U.S. vice presidents and two Supreme Court justices. For more, visit http://www.centre.edu/web/elevatorspeech/

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