Stadium and 127+/- Acres to Be Sold via Absolute Auction to the Highest Bidder.

Williams & Williams, the premier brand in real estate auctions, announced today that it is selling the Silverdome in Pontiac Michigan and 127+/- surrounding acres, through an Absolute, No Reserve Auction in partnership with CB Richard Ellis on behalf of the City of Pontiac.

Considered an excellent high-profile redevelopment opportunity, the Pontiac Silverdome, an 80,300-seat stadium, is prominently situated on 127+/- acres accessible by I-75 and M-59. Built at a cost of $55.7 million, the dome was the largest arena in the National Football league when it opened in 1975, just 23 months after its groundbreaking. The gateway site will lend interested buyers an array of development options.

AUCTION INFORMATION

The Silverdome in Pontiac Michigan is being sold at auction by Williams & Williams in partnership with CB Richard Ellis on behalf of the City of Pontiac. Sealed bids are now being accepted by Williams & Williams through Thursday, November 12th, 4pm Eastern. At that time, the City of Pontiac, in its sole discretion, may declare the current high bidder the winner and the auction ended. OR the City may elect to invite no more than the top five high bidders to a best and final outcry auction. Should the City determine that they will continue the auction to final outcry, that live event will be held in Pontiac, Michigan on Monday, November 16th, 2009 at 1pm Eastern at the Marriott Hotel, to give all finalists time to travel to Pontiac. The Silverdome is being auctioned Absolute, without reserve.