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Federal Audit of Cordoba Contract

June 09, 1996

* I am deeply concerned with how some in the print media have portrayed Cordoba Corp. in a number of recent articles relating to our performance on a U.S. Department of Commerce contract in 1994-95 (April 28, May 5). The articles were based solely on an interim Commerce Department audit of the contract with Cordoba Corp. By relying on inferences drawn from information covering only the first six months of the contract's 12-month performance period, the auditors have presented a very skewed picture of Cordoba's overall program performance. The interim audit and the articles have generated an enormous amount of misinformation about Cordoba and the contract.

In spite of the premature and unfair conclusions drawn by some, I am quite proud of Cordoba's record during its 14-year existence. Cordoba has been involved in hundreds of highly successful projects. It was Cordoba's performance--on time and on budget--as the prime consultant on the Metro Red Line Eastside Extension Planning Project that directly led to the approximately $700 million in subsequent federal funds for construction of this important project. As the prime consultant on the Blue Line Downtown Connector Study, Cordoba successfully examined several viable alternatives for connecting the downtown terminus of the Blue Line with the Pasadena extension at Union Station.

We have formally requested the Commerce Department to conduct a final audit of the entire project in conformance with its own regulations. I assure you the final outcome of this audit will be quite different than may appear at present.

GEORGE L. PLA

President, Cordoba Corp.

Los Angeles

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