"Thanks for the Memories": Caruso Affiliated Launches Memories of the Miramar - Seeks Community Contributions to Create an Archive of Personal Stories, Photos and Other Historic Items.

MONTECITO, Calif. -- In recognition of the rich history and strong attachment of many in the community and beyond to the Miramar Hotel, Caruso Affiliated is launching "Memories of the Miramar," to solicit anecdotes and artifacts from community members, former hotel employees, guests, and others. The company entered into an agreement to acquire the property on January 26 and is embarking on a broad community outreach effort as it begins to formulate plans to redevelop the site as a high-quality, family-oriented hotel. The collection of information will help Caruso Affiliated in shaping a new future for the property that honors and reflects its cherished past.

"Mention the Miramar to anyone in the community and it immediately triggers a fond reminiscence. People have a strong connection to the hotel and wonderful memories of times spent there with family and friends," said Rick Caruso, CEO, Caruso Affiliated. "We want to capture the fun and moving stories, old photos and videos, as well as souvenir items from the hotel. Our archive will preserve the history of the Miramar."

Caruso is seeking submissions from the community and asking for residents to reach out to family, friends and associates outside of the area that may also be able to contribute a written account of an experience, a funny story or memorable moment. Submissions should include contact information so Caruso representatives may follow-up if they have questions or perhaps further involve the participants in the project. Items submitted cannot be returned and will become part of the permanent archive.

In addition to creating an historic archive and influencing the design for the new hotel, "Memories of the Miramar" will ultimately be shared in many forms with the community. This may include a public exhibition displayed in the hotel upon grand opening, a short video, news articles or a book. Caruso is asking for submissions to be sent by March 18 to:

Najla Kayyem, Vice President
Caruso Affiliated
101 The Grove Drive
Los Angeles, CA 90036
[e-mail]

"The community is anxious for us to move forward and this is an important step in the process. This influenced our request for submissions by March 18. If you can't make the deadline but want to participate we will gladly accept future contributions," Caruso added.

As the project progresses Caruso Affiliated will create a website for people to post their memories on an ongoing basis.

ABOUT CARUSO AFFILIATED

Caruso Affiliated is known for creating open-air community and regional retail environments that serve as local gathering places. Caruso's style has become a recognized brand within the retail industry and with Southern California residents and visitors. The success of the company's stylish and elegant outdoor environments where people can gather, shop and be entertained has challenged the traditional "mall" concept and set a new standard in the industry. A recognized leader in this trend, Caruso Affiliated's growth is approximately two times that of the largest publicly traded REITs and sales per square foot at Caruso properties are 75 percent higher than the industry average. Caruso is also respected in the industry for his close working relationships with the surrounding communities both during development and after his properties are open and operating.