University of Dallas Withdraws Bid for George W. Bush Presidential Library.

IRVING, Texas -- The University of Dallas (UD) today officially informed the George W. Bush Presidential Library Site Selection Committee that it will formally withdraw its bid for the Presidential Library.

"While we remain interested in hosting the library, after discussions with the Committee and the City of Irving, which has been our partner and financial supporter, we have concluded that it is in the best interest of all concerned that we move forward with our withdrawal from the process," said Dr. Frank Lazarus, president of the University of Dallas.

The University was informed in December that the selection committee had chosen to enter into exclusive negotiations with Southern Methodist University in the next phase of the bid process. Noted Lazarus, "We were pleased and honored to be part of the process and to be one of the three finalists with the opportunity to showcase our outstanding educational institution on the national stage."

Lazarus said the University felt it was time to release several commitments that have been made on behalf of the library bid, in particular the City of Irving's pledge of $50 million in hotel tax revenues. "We were overwhelmed with the City's commitment, but we don't want to stand in the way of other important projects the City of Irving may pursue," Lazarus noted.

"With the City of Irving's recent announcement that Forest City Enterprises has been selected as the developer of choice with which to begin exclusive negotiations for the Crossroads DFW development, we look forward to the interest that will be generated in this area of Irving," said Dr. Lazarus. The University's site that was proposed for the Library project, which is adjacent to the Crossroads DFW property, is now available for other real estate development opportunities.

The University has acknowledged the tremendous support of agencies and companies that partnered with UD to develop the final proposal. "On behalf of the Board of Trustees and the entire University family, we want to take this opportunity to thank everyone who endorsed our plan and gave generously of their time, including Irving Mayor Herb Gears and the Irving City Council, the Irving Convention and Visitors Bureau, Dallas Mayor Laura Miller, Dallas County Commissioners, HKS Architects, Inc., SWA Group Landscape Architects, MSC Advertising and Design and Cooksey Communications," said Harry Longwell, chairman of the University's Board of Trustees.

The University of Dallas is a highly ranked private college and the only Catholic university in North Texas. With more than 3,000 students, the University offers undergraduate and graduate programs in liberal arts and business. UD has its main campus in Irving, Texas (1845 E. Northgate Drive), along with an international campus near Rome, Italy, and satellite campuses in Plano and North Richland Hills (Tarrant County), Texas.

For more information about the University of Dallas, visit the website www.udallas.edu. For more information on the City of Irving's redevelopment plans, visit the "Crossroads DFW" website www.crossroadsdfw.com.