2014

'Magic' is Brewing at Howard University Starbucks Coffee Company and Johnson Development Corporation Celebrate

Their First Joint Venture Starbucks in the District of Columbia



Earvin 'Magic' Johnson and Starbucks Chairman Howard Schultz to Address

Howard University Business Students Prior to Grand Opening Event



    WASHINGTON, Nov. 7 /PRNewswire/ -- On Friday, November 8, Earvin "Magic"
 Johnson, chairman and CEO of Johnson Development Corporation (JDC), will team
 up with Howard Schultz, chairman of Starbucks Coffee Company, to celebrate the
 opening of the first Starbucks/JDC joint venture store in the District of
 Columbia.  The store, which opened on October 15, 2002, is located at 2225
 Georgia Avenue, NW at Howard University.
     Johnson and Schultz will address Howard University business students at
 the School of Business, located at 2600 Sixth Street, NW at 9:30 a.m.  A grand
 opening event for all students and members of the community will take place at
 12:15 p.m.  The celebration will include a formal speaking program and
 ceremonial toast.
     "Our partnership with Starbucks allows us to bring quality products and
 services to ethnically diverse communities, as well as establish job
 opportunities for members of these communities," said Johnson.  "We are
 confident that the Howard University store will create a positive work
 environment and provide a place where neighbors and students can gather and
 enjoy great coffee and conversation."
     "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."
     In February 1998, Starbucks and JDC formed Urban Coffee Opportunities, LLC
 (UCO), a joint venture to enhance the development of Starbucks retail stores
 in ethnically diverse neighborhoods across the country.  Starbucks and JDC
 both recognized there was a segment of the market that could support further
 economic development of major high-end retailers.  As a result, the two
 companies began discussions on how they could work together to open Starbucks
 locations in these communities.  This endeavor combines the retail strength of
 Starbucks with JDC's knowledge of real estate in key metropolitan markets.
 The Howard University coffeehouse is one of 37 UCO locations throughout the
 United States.
     "Howard University is our first joint venture location in the District of
 Columbia.  We are proud to have opened a store in this key community," said
 Ken Lombard, president of JDC.  "Through our relationship with Starbucks, we
 will continue to make a difference in communities throughout the country."
 
     JDC, a company formed in 1994 by Johnson, 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
 entertainment complexes, restaurants, coffeehouses and retail centers.  The
 development projects provide jobs and employ local minority contractors in the
 communities in which they operate.
 
     Starbucks Coffee Company is the leading retailer, roaster and brand of
 specialty coffee in the world, with more than 5,000 retail locations in North
 America, Latin America, Europe, the Middle East and the Pacific Rim.  The
 company is committed to offering the highest quality coffee and Starbucks
 Experience while conducting its business in ways that produce social,
 environmental and economic benefits for communities in which it does business.
 In addition to its retail operations, the Company produces and sells bottled
 Frappuccino(R) coffee drinks, Starbucks DoubleShot(TM) coffee drink, and a
 line of superpremium 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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SOURCE Starbucks Coffee Company

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