FOR IMMEDIATE RELEASE

Contact:  Donald D. Stilwell, Lee County Administration
               (239) 335-2221

E.D.O.'S WATERMEIER LEAVING COUNTY GOVERNMENT TO HEAD NEW CONSULTING VENTURE

FORT MYERS, Fla. (April 10, 2003) - Lee County Economic Development Director Janet Watermeier is leaving her position April 25 to head a new firm that will provide specialized consulting on public/private partnership projects, among other things. The venture, called The Florida Gulf Coast Group, is being formed with local businessman Frank D'Alessandro.

Watermeier has been the county's Economic Development Director for seven years. During that time, she revitalized the Economic Development Office, was instrumental in fostering partnerships with local and state organizations, and helped in locating a number of significant companies to our area. She also was responsible for completing the objectives of the county's Community Redevelopment Agency program.

The office is a county department and works to: retain and encourage the expansion of existing businesses; attract new and diversified employment to the area; and improve the business environment in Lee County. The office also acts as staff to the Horizon Council and Lee County Industrial Development Authority, both of which assist in the office's mission. The office has a staff of 16 and an annual operating budget of $1.5 million.

In 2001, Governor Jeb Bush appointed Watermeier to a two-year term on the Florida Transportation Commission - giving Southwest Florida and Lee County an important voice in statewide transportation matters. Watermeier also chaired Enterprise Florida's Marketing Committee, was vice president of programs for the Florida Economic Development Council and is a member of the Southwest Florida Transportation Initiative and Southwest Florida Regional Planning Council.

"Janet's talents will be sorely missed by Lee County Government, but it's gratifying to know she'll be staying in Lee County so the community can continue to tap her expertise," said County Manager Don Stilwell. "She has been an integral part of the success of the county's economic development efforts and the public/private partnership that has been forged with the business community through the Horizon Council."

Below is Watermeier's departure letter to the Horizon Council and a release explaining The Florida Gulf Coast Group.

April 9, 2003

Re: Janet Watermeier - January 1996 to April 2003

Director of Economic Development, Community Redevelopment Agency Director, Horizon Council Executive Director, Horizon Foundation Executive Director, Industrial Development Authority Director, Education Facilities Authority Director

Dear Horizon Council Member, Horizon Foundation Investor and Industrial Development Authority Member:

It has been a pleasure serving as the Director of your organization. Thank you for allowing me the opportunity. The last seven years have been the best seven years of my career. I have thoroughly enjoyed the relationships, experiences, challenges and opportunities. Effective April 25, 2003, I will be leaving my position with Lee County to pursue an entrepreneurial opportunity. Frank D'Alessandro and I will be forming a new venture, The Florida Gulf Coast Group, a consulting and development team. I have the honor of serving as its president and hope to continue to help Southwest Florida through future community and development projects.

I am very proud of our accomplishments over the last seven years. Together we assisted more than 100 companies locate and expand in Lee County, creating over 4,750 new high wage jobs with an annual wage economic impact of over $355 million. These companies absorbed over $2 million square feet, adding more than $3.4 million annually in local property tax revenue. Lee County incentives produced new high-wage high-skill jobs for Lee County citizens exceeding 150% of the Lee County average wage while the Lee County average wage (consistently below Florida and the U.S.) increased $6,230 (28%) and significantly decreased the gap. In addition, we were successful in completing over $7 million of community redevelopment projects, including community plans, streetscapes, parks, storefront grants, and special community projects for 5 Community Redevelopment Areas (CRA), returned over $3 million to the General Fund, and restructured the CRA project criteria and Tax Incremental Financing process.

It has truly been an honor to work with the Horizon Council as it evolved into the premier public private advisory board for economic development, blending two organizations into one effective and respected board while tackling complex business climate issues, including the initiation of the Workforce Study, Telecommunications-Connecting Lee County, Smart Growth, Regional Initiatives, and many more. Through the Horizon Foundation, we raised over $1.3 million of private sector funds to supplement our pro-active marketing initiatives. It was a pleasure working with the seven-member Industrial Development Authority as they authorized eligibility for over $440 million of tax-exempt bonds for 16 projects and approved over 30 company incentives for expanding and locating companies with high-skill, high-wage jobs for Lee County citizens.

I am the most proud of the great team of people who comprise Lee County's Economic Development Office. I have no doubt with the talent and leadership that is in place, Lee County will continue to be in the forefront in attracting new high wage--high skill jobs for Lee County citizens. The Economic Development Office's pro-active programs will continue under the leadership of Regina Smith. Regina has served as the Deputy Director of Economic Development since 1997 and has worked in the office for more than 9 years, starting in 1994 as a Business Development Specialist. She brings more than 20 years of economic development expertise and has both public and private sector experience. Lee County is fortunate to have her as its new Director of Economic Development.

But most of all, I am grateful to each and every one of you who selflessly committed your time, energy, advice and dollars to help make Lee County a better place. It is your efforts that truly make a difference. I wish you much success, and if I can ever be of assistance, please don't hesitate to contact me. It has truly been a pleasure working with you.

If you wish to contact me after April 25th, I can be reached at the following:

New e-mail address: jwatermeier@earthlink.net

New cell phone number: (239) 633-2793

Sincerely,

Janet Watermeier

FOR IMMEDIATE RELEASE

Media Contact: Janet Watermeier

(239) 633-2793 (cell)

Teri Hansen, APR, Priority Marketing

(239) 267?2638 or cell: (239) 849-3300

Colleen Reynolds, APR, Priority Marketing

(239) 267-2638 or cell: (239) 849-6400

Janet Watermeier and Frank D'Alessandro Form New Company

FORT MYERS, Fla. (April 10,2003) -Janet Watermeier and Frank D'Alessandro have announced the formation of a new business venture, The Florida Gulf Coast Group, LLC, (FGC Group), a private consulting and development resources firm focused on identifying unique development and investment opportunities. The firm will specialize in providing in-depth local market insights and joining concepts with opportunities to help bring projects to the area that add value to the community. The primary focus of the firm will be to facilitate public/private partnership projects, provide market information, project feasibility and economic analysis. Watermeier will serve as president of the company and D'Alessandro, will serve as vice-president. Watermeier will fulfill her executive director duties at the Lee County Economic Development Office until April 25, 2003 and D'Alessandro will remain at RE/MAX Commercial Realty in addition to serving in this new position.

Watermeier and D'Alessandro possess more than 30 years of combined experience in commercial real estate, financing, local and state government, economic development, community redevelopment, research and technology development. Watermeier is a well-known speaker and advocate of bringing a high-wage, high-quality workforce to southwest Florida. D'Alessandro, a respected leader in the commercial real estate industry, will lend his knowledge of real estate opportunities and investment resources in southwest Florida.

"I don't know of anyone who can do a better job of locating resources to help a project succeed," adds Watermeier. "He is involved in many community organizations and has strong business alliances throughout southwest Florida."

D'Alessandro believes that this venture is going to positively affect the community by bringing much needed projects to fruition.

"Janet understands how to speak the language and identify potential problems well in advance," says D'Alessandro. "I'm very excited at the prospect of being involved with such an innovative venture."

Watermeier served as Lee County's Economic Development Director for the past seven years. She currently serves on the Southwest Florida Regional Planning Council and Florida's Long Range Economic Strategic Plan Task Force. Additionally, she conducts seminars for the Department of Community Affairs and the Florida Economic Development Council. Appointed by Governor Jeb Bush, she serves on Florida's Transportation Commission.

D'Alessandro is one of the principals of the D'Alessandro & Woodyard Team at RE/MAX Commercial. He has been in the commercial real estate brokerage business for 25 years and specializes in the sale and leasing of commercial real property. He represents a broad range of clients and serves on numerous community boards. He is currently on the Board of Directors for Florida Gulf Coast University, Hope Hospice and the CCIM Southwest Florida Chapter.