Luther Forest Technology Campus Announces the Sale of First 223 Acres to GLOBALFOUNDRIES

Luther Forest Technology Campus Announces the Sale of First 223 Acres to
GLOBALFOUNDRIES

Anchor Tenant Will Build the World's Most Advanced Semiconductor Manufacturing
Facility: Benefiting from Ideal Land Conditions, Significant Water Supply and
Shovel Ready Infrastructure

SARATOGA SPRINGS, N.Y., June 10 /PRNewswire/ -- Luther Forest Technology
Campus Economic Development Corporation (LFTC) today announced the sale of 223
acres of land to GLOBALFOUNDRIES for the construction of Fab 2, with property
remaining to build two additional fabs to meet future demand. This is the
first monumental sale for the corporation for the buildout of the 1,414-acre
campus located in Malta and Stillwater, New York.

The remaining land at the campus is divided into nine development areas with
flexible lot sizes, which can accommodate anywhere from 65,000 square feet to
one million square feet, ideal for nanotechnology, semiconductor suppliers,
microelectronics companies as well as other high-tech sectors. The campus is
ideal for clean room production and is pre-permitted for nanotechnology
manufacturing as well as research and development, support businesses,
community uses and an executive conference center with lodging.

This highly desirable land with a dedicated byway to Interstate 87, 1.5 miles
away, also has access of up to 15 million gallons/day of fresh water, sewer
lines, telecommunications and redundant power with 99 percent reliability. The
soil composition absorbs movement and stabilizes the ground against vibration,
making it sound high-tech construction. 60 percent of the campus is dedicated
green space that is centrally located between New York City, Boston and
Montreal. The site plan and review process can take as little as 120 days from
concept to construction.

"This sale marks the official beginning of a world class tech park that will
be home to some of the most advanced manufacturing and innovative businesses
in the world," said Michael Relyea, president of LFTC. "It is proof positive
that all the hard work of this public-private partnership comprised of Luther
Forest Technology Campus, Saratoga Economic Development Corporation, Saratoga
County Board of Supervisors, the town boards of Malta and Stillwater and New
York state has come together in an extraordinary way to help drive economic
development for generations to come."

Today, New York state is ranked third in high-tech employment. The state of
New York is committed to bringing a cutting-edge technological future, as
demonstrated by its nearly $1.2 billion in incentives for AMD, the initial
company which formed GLOBALFOUNDRIES as a joint venture with Advanced
Technology Investment Company.

About Luther Forest Technology Campus
Luther Forest Technology Campus, located in New York's Tech Valley, is a
shovel-ready site and the perfect cornerstone of business and lifestyle. The
1,414-acre (573 hectares) site is designed for semiconductor and
nanotechnology manufacturing as well as other innovative industries. LFTC will
be home to GLOBALFOUNDRIES, a state-of-the-art 300 mm fabrication facility to
begin construction in summer 2009 with anticipated production in 2012. To find
out more visit www.lutherforest.org.

SOURCE Luther Forest Technology Campus

Missy Shorey, Shorey Public Relations, Office, +1-518-587-1011 ext. 221,
Mobile, +1-202-277-7100, missy@shoreypr.com