BARMUDA CORP. AND NELSON PROPERTIES ANNOUNCE NEW RESTAURANT,

LOUNGE AND EVENT CENTRE IN DOWNTOWN WATERLOO’S BLACK’S BUILDING

Cedar Falls, IA (March 14, 2008) – A celebrated restaurateur announced today that he would

be heading to downtown Waterloo to open a highly anticipated, New Orleans style restaurant

and lounge, Bourbon Street and Voodoo Lounge. The restaurant and lounge would be the

second in the Cedar Valley market. In addition, The Sky Room, an event center will also

open on the building’s eighth floor.

Darin Beck of Barmuda MMC, www.barmuda.com, and Vern Sr., Donna Nelson, Vern Jr. and

Vern III of Nelson Properties, www.nelsonproperties.com, announced today they have

reached an agreement to have Barmuda lease the ground floor as well as the eighth floor of

the Black’s Building. Barmuda and the city of Waterloo have been diligently working on a

developmental agreement with final details to be worked out in the coming weeks.

Darin Beck, owner and CEO of several successful restaurants, nightclubs, lounges and an

event center in the Cedar Valley is bringing three concepts to the Blacks Building,

www.blacksbuilding.com, an eight story, office center building located in the heart of

downtown Waterloo. The Sky Room will open in the former Black’s Tea Room, a renowned

and stately room in the early 1900’s.

“It feels so good to finally be coming to downtown Waterloo. We’ve been waiting for the right

time and the right property and we think both have finally happened,” said Beck. “I bet I’ve

been asked to bring a Bourbon Street and Voodoo Lounge to Waterloo at least a thousand

times over the past few years since opening the original in Cedar Falls and I feel downtown

Waterloo is exactly the right place to do it. There is no question that Waterloo’s downtown

renaissance is about to go into full swing and we’re proud to be part of what is fast becoming

another blossoming cultural district for residents to live, work and play. Of course visitors will

love our ever expanding downtown offerings too, but for me what matters most is that our

community makes a commitment to take pride in our downtown and support all the incredible

things that have already happened as well as what’s yet to come!”

In a press conference today, Mayor Tim Hurley, Donna Nelson, Managing Partner of Nelson

Properties, Steve Dust, President of the Greater Cedar Valley Alliance, Bob Justis, President

of the Greater Cedar Valley Chamber of Commerce, Terry Poe Buschkamp, Executive

Director for Main Street Waterloo as well as other community leaders were prdemonstrate

their support for opening these new concepts in Waterloo.

“We are honored to have Darin Beck and Barmuda commit to downtown Waterloo,” adds

Mayor Hurley, “having a successful man like Darin bring his concepts to Waterloo only shows

how far Waterloo has come.”

Beck intends to operate the almost 20,000 square foot restaurant, lounge, and event center

under its Bourbon Street and Voodoo Lounge concept and offer the award-winning Cajun,

Creole and Southern-American cuisine. Located on the eighth floor, The Sky Room will be an

event center that can host over 250 people for special events. The renovation is anticipated

to be complete by September ’08 and will be over $1 million.

Donna Nelson, managing partner for Nelson Properties said, “this opportunity is a big deal for

downtown Waterloo and for the Black’s Building. Downtown is evolving and we needed to

partner with someone who has compassion for our community and for making it better.

Everything Darin does, he does with style. This new restaurant and lounge makes a perfect

complement for the Black’s building.”

The support from other downtown business owners has been overwhelmingly positive as

noted by another extremely successful restaurateur, Joni Holland from Cu Restaurant. She

commented, “Our vision was to build an entertainment district. By doing so, it’s better for

everyone.” She continues to add, “Having multiple dining and entertainment establishments

downtown is important for people to walk around because it gives people places to go.”

Barmuda MMC will add over 100 jobs with this investment.

Barmuda MMC is Cedar Valley’s dining and entertainment leader. Properties include Beck’s

Sports Grill, Ice Ultra Lounge, and Mojo’s Pizza House on College Hill. Bourbon Street,

Voodoo Lounge, Soho Sushi Bar and Deli, Stuffed Olive Tapas & Martini Bar, and Joker’s

Comedy Night Club on Main Street in Cedar Falls. Ferrari’s Ristorante and Park Place Event

Centre in Technology Park and Beck’s Sports Brewery in Waterloo. Coming soon, Lucid After

Dark in Blackhawk Village Shopping Center and a New Bourbon Street Restaurant, Voodoo

Lounge, and Sky Room Event Center in Downtown Waterloo.

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