Earvin `Magic' Johnson and Starbucks Chairman Howard Schultz Host Community Celebration in Oak Cliff.

Business Editors

DALLAS--(BUSINESS WIRE)--July 12, 2001

Basketball legend Earvin "Magic" Johnson, chairman and ceo of Johnson Development Corporation (JDC) and Howard Schultz, chairman, Starbucks Coffee Company (Nasdaq:SBUX), today celebrate the opening of their first joint venture location in Texas. A community reception, which includes dignitaries from politics, business, education and sports, will take place at 10 a.m. outside the new Starbucks store located at 3431 W. Camp Wisdom Road in Oak Cliff.

As part of the festivities, three winners of a Starbucks/JDC sponsored "Community in Unity" school art contest will be recognized. The contest involved Dallas area schools, grades one through eight, who expressed their creativity in various artistic formats and won U.S. Savings Bonds and tuition to summer art camp.

"The Oak Cliff, Camp Wisdom Road location is a perfect example of Starbucks and Johnson Development Corporation's commitment to empowering urban areas," said Johnson. "As we focus on our goal to hire locally and contract with minority vendors, we can make a difference in helping to revitalize neighborhoods across the country."

"Starbucks and JDC both take pride in enriching the communities in which we do business," said Schultz. "In addition to providing a gathering place for coffee and conversation, we work with local non-profit organizations to develop long-term relationships that will benefit the community."

The Camp Wisdom location is part of a joint venture between Starbucks Coffee Company and JDC to develop Starbucks locations in under-served communities throughout the United States. The 50/50 joint venture known as Urban Coffee Opportunities (UCO), was formed in 1998 and capitalizes on the retail strength of Starbucks and JDC's knowledge of urban communities in key metropolitan areas. Currently, there are 25 joint venture locations nationally in cities such as Los Angeles, New York, Seattle, Atlanta, Chicago and Fort Lauderdale.

The Camp Wisdom store is the first freestanding location Starbucks has opened in the southern half of the city. In addition, the location features a drive-thru to better serve Dallas-area commuters.

"Retail expansion in Southern Dallas is a major initiative for Dallas' community, civic and political leaders," said Kenneth Lombard, president, JDC. "The Dallas community has extended open arms and has made launching this site in Oak Cliff seamless. Their cooperation and continued support will help pave the way for opening additional joint venture stores."

Johnson Development Corporation (JDC), a company founded by Earvin Johnson, Jr., is comprised of five separate companies, each functioning independently to serve as a business stimulus, foster local economic growth and create financial empowerment in long neglected minority urban and suburban neighborhoods. JDC develops movie theatres, restaurants and coffee shops. The development projects provide jobs and employ local minority contracts in the communities in which they operate.

Starbucks Coffee Company is the leading retailer, roaster and brand of specialty coffee in the world. In addition to its retail locations in North America, the United Kingdom, the Pacific Rim and the Middle East, Starbucks sells coffee and tea products through its specialty operations, including its online store at Starbucks.com. Additionally, Starbucks produces and sells bottled Frappuccino(R) coffee drink and a line of super premium ice creams through its joint venture partnerships. The company's other brands enhance the Starbucks Experience through best-of-class products: Tazo Tea Company offers a line of innovative premium teas, and Hear Music produces and distributes a line of exceptional compact discs.

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