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MORE SPACE PLACE® OPENS FRANCHISEE TRAINING FACILITY AS PART OF AGGRESSIVE NATIONAL EXPANSION STRATEGY

LARGO, Fla. – July 15, 2003 – More Space Place®, the nation’s largest wall bed retailer, has opened a new franchisee training facility in St. Petersburg, Fla.

The new 3,500-square-foot location is designed to provide new franchisees with a thorough education of the More Space Place product offering. Franchisees return to their new stores with the knowledge and skills necessary to effectively grow and maintain a successful business.

With 27 locations, More Space Place is in the process of an aggressive national growth strategy through franchising. Franchisees are provided with a comprehensive package that includes financing options, location selection support, showroom build-out and working capital.

“Our proven training program is designed to provide our franchisees with the resources they need to be successful,” said Clark Williams, chief operating officer of More Space Place.

“By administering the training within our prototype store, new franchisees will obtain a hands-on understanding of the latest innovations of our unique concept. We feel very strongly about the need for superior franchisee preparation and this cutting-edge facility illustrates our commitment to their success.”

A comprehensive 11-day training program includes a chronicled history of the Murphy bed; thorough product knowledge and installation education; business planning, budgeting and accounting instruction; employee hiring and management techniques; and marketing plan development. The program culminates with an experienced More Space Place representative working with the franchisee to plan a new store design, set-up and operation.

Under the leadership of Martin Juarez, More Space Place’s vice president of franchising, owners are continuously guided in their quest for entrepreneurial success. Juarez has more than 12 years of franchising experience, including business and management operations, marketing and franchise development.

More Space Place is the nation’s largest retailer of wall beds with 27 retail locations throughout Florida, Michigan, New Hampshire, North and South Carolina, Texas, and Virginia. More Space Place stores sell a collection of space-saving furniture for every room in the home, including Murphy beds, wall beds, side beds, wall units, entertainment centers, home office work stations, and organizational systems for the closet, pantry and garage. Founded in 1989, More Space Place is headquartered in Clearwater, Fla.