The City of Irvine has begun a process to consider passing an ordinance ending, among other things, the retail sale of dogs and cats in the City. This process has included extensive dialogue among interested parties. As part of that process, the Irvine Company has decided to phase out the sale of dogs and cats from its neighborhood, community and regional retail centers. Effective immediately, the Irvine Company will not lease space in any of its centers to tenants that intend to sell dogs or cats. The Irvine Company will honor its existing contractual commitments with Russo’s until the expiration of current lease terms.