August, 2002

AFCO Finalizes Ground Lease in Providence, Rhode Island

AFCO has executed a 25-year ground lease agreement with the Rhode Island Airport Commission (RIAC) to develop a 15-acre parcel with runway access at T.F. Green State Airport (PVD). AFCO submitted the winning proposal to the RIAC in the Spring of 2001. AFCO will finance, design, construct and manage a 50,000 to 70,000 square-foot multi-tenant air cargo facility with approximately 250,000 square feet of apron. The facility will accommodate the major integrator operators currently serving PVD as well as the local freight forwarding community.

Please contact Jim Norris at 703-288-8597 or jnorris@afcoinc.com for information.