September 13, 2004

FIRST TENANT OF LA QUINTA TRADE GATE WAY TO OPEN FOR BUSINESS
“Port Of Corpus Christi To Hold Ribbon Cutting Ceremony Of
Gulf Compress Cotton Warehouse”

(Corpus Christi, TX) --- As part of the Port of Corpus Christi’s diversification efforts, Port officials will hold a ribbon cutting ceremony for the Gulf Compress cotton warehouses as La Quinta Trade Gateway’s first tenant on Thursday, September 16, 2004 at 11:30 am. The ribbon cutting will take place at Hwy 181 and the Buddy Ganem exit. Texas Agriculture Commissioner Susan Combs will be the keynote speaker along with various local dignitaries.

The Gulf Compress is a cooperative warehouse organized in 1950 to serve the cotton producers and gins in South Texas. It was organized in such a manner that the compress could serve coop members as well as producers that ginned at independently owned gins. In the 54 years since its inception, Gulf Compress has continued to expand in the number of producers served as well as capacity to continue providing modern facilities to meet the needs of South Texas cotton producers.

In 2004, Gulf Compress had to vacate most of the Port’s Public Compress warehouses to make way for the new baseball stadium. The Port of Corpus Christi invited Gulf Compress to consider building its new cotton warehouses on the La Quinta site. After evaluating several locations the Board of Gulf Compress decided to build at La Quinta. This new facility will have over 575,000 – sq. ft. of new storage.

“This new facility will allow South Texas cotton to serve the world and we are excited about exporting our cotton through La Quinta to the world marketplace,” said Bob Weatherford, General Manager of Gulf Compress.

Gulf Compress serves the area from Ft. Bend County west along Interstate 10 to San Antonio, Southwest down Highway 90 to Del Rio and along the U.S./Mexican border including the Rio Grand Valley. In 2003 there were approximately 875,000 acres of planted cotton. Gulf Compress handles over 50% of the cotton grown on those acres.

“It is only fitting that cotton can once again help develop the Port as it did almost 78 years ago to the day by being the first tenant at La Quinta, our proposed container terminal development,” said Ruben Bonilla, chairman of the Port of Corpus Christi.

The new facility at La Quinta will provide the South Texas cotton producer the most up to date facility in the State of Texas, perhaps the United States. “This is the most modern facility available and the producers will receive excellent protection for his crop as well as just in time delivery,” added Weatherford.

WHAT: Ribbon Cutting Gulf Compress-La Quinta Division
WHEN: Thursday, September 16, 2004 @ 11:30 a.m.
WHERE: Hwy 181 and the Buddy Ganem exit

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