Press Releases

Tuesday, March 6, 2007

BP offers ampm franchises in Chicago metro area\n

CHICAGO, IL, March 6, 2007 - NRC Realty & Capital Advisors, LLC (NRC) announced today that it has been retained by BP to coordinate the sale of forty-three sites in the Chicago metro area to be re-imaged or developed as ampm franchise stores with BP branded gasoline stations.

Franchising these sites as ampm is in line with BP's strategic plans to expand and grow the brand to reach more consumers with its products and services.

"Our goal is to build and recruit a franchise network East of Rockies that complements our already distinctive BP brand," said Ben Amante, BP's vice president of franchising in the U.S. "We are offering franchise buyers the rare opportunity to purchase a franchise with real estate rights. We also see an opportunity to reflect the diverse communities where we operate by appealing to minority business people looking to franchise in the community. We look forward to building a strong network of franchisees to help us grow our business and deliver our products and services to more consumers."

Of the forty-three sites to be branded as ampm franchise stores with BP gasoline stations, thirty-six are existing BP-branded sites. These thirty-six include:

• Eighteen sites that will have convenience stores rebranded to ampm prior to closing;

• Eight sites that the buyers will initially operate under current BP branding and complete the conversion and rebranding to ampm after closing; and

• Ten sites that will require complete redevelopment before opening with the ampm brand; closings for these sites will occur after buyers have obtained all necessary construction permits.

Additionally, BP is offering seven vacant sites for construction by buyers of new ampm retail franchises with BP branded gasoline stations.

In addition to the ampm franchise sites, BP is offering eighteen properties (including the seven vacant sites and one of the redevelopment sites described above which are being offered either for franchise or commercial use) for other commercial use, including the potential operation of de-branded gasoline stations on two of these properties.

With the introduction of ampm in the Eastern U.S., including in Chicago, Indianapolis and Pittsburgh, BP is leveraging its significant ampm franchising experience and market recognition in the Western U.S. and internationally. There are about 1,000 franchisee-owned and/or operated ampm franchise stores in the Western US. Internationally, there are approximately 2,000 ampm stores in Brazil, Japan and Mexico. While similar, the Eastern and Western U.S. ampm franchise offers are distinct from one another and subject to separate franchise documentation.

"The BP brand is distinctive in the Chicago metro area and the ampm brand is well regarded" said Hope Mineo, Managing Director of NRC, noting that BP's ampm convenience store has been ranked 51st in Entrepreneur's 28th annual Franchise 500© , which measures the financial strength and stability, growth rate, system size and number of years in business of franchises.

"The ampm franchise was the only convenience store owned by an integrated oil and gas company to make the list," Mineo said. "We are thrilled to continue to assist BP in accelerating the expansion of its ampm brand in Chicago."

The BP sites are being sold through NRC's sealed bid sale process. NRC requests sealed bids by May 8, 2007. For bid submission guidelines and further information regarding the BP sites please contact NRC at 800.747.3342, ext. 703, or by visiting www.nrc.com/703.

Prospective franchisees and BP dealers that are interested in submitting bids for Chicago sites are required to attend a complimentary seminar in Chicago on April 18, 2007. Representatives from BP and NRC will host the seminar, which will provide essential information related to BP franchising and fuel supply and the NRC sealed bid process. Reservations and a completed Franchisee Application are required for attendance. Please contact NRC at 800.747.3342, ext. 703, for details and to register. The Franchise Application is available for download at www.nrc.com/703.

NRC has prepared a complimentary color portfolio brochure with site information summaries and maps. Bidders are required to obtain a bid package for each site on which they plan to submit a bid. Bid packages are available as part of property specific packages (PSPs) that have been assembled for each site. Each PSP contains site-specific due diligence information, such as a title commitment, survey and environmental information. Prospective bidders may order brochures and PSPs by contacting NRC at 800.747.3342, extension 703. PSPs may be purchased in either hard-copy or CD-ROM format at $35 and $25, respectively, for each PSP.

BP markets more than 15 billion gallons of gasoline every year to U.S. consumers through 13,000 retail outlets. All Amoco fuels are backed by a written guarantee. BP is the single, global brand formed by the combination of the former British Petroleum, Amoco Corporation, Atlantic Richfield (ARCO) and Burmah Castrol. Additional information on BP's franchising opportunities is available at www.bpampmfranchising.com.

NRC Realty & Capital Advisors, LLC, specializes in the accelerated sale of North American commercial real estate property. With a concentration in the convenience store industry, NRC provides divestiture, commercial and financial advisory real estate services. Since 1989, it has sold more than 10,000 properties. In 2006 NRC sold properties in thirty-one states with aggregate purchase prices in excess of $300 million. Clients include globally-recognized companies in a variety of industries, including petroleum (BP, Shell, and Sunoco), convenience stores (White Hen, BP Connect, ampm), financial institutions (GE Capital, Bank One, and Wachovia), retail (Kmart), and closely-held distributorships and independent retailers. For more information, visit www.nrc.com.

NRC Contact:
Nicole Davis
Marketing Coordinator
NRC Media
312.278.6813
nicole.davis@nrcmedia.com