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Accident Fund Will Make Board of Water & Light's Ottawa Street Station Power Plant in Lansing Its New National Headquarters
Date:10/8/2007

Transformational project will accommodate planned strategic growth that

will bring up to 500 new jobs to Lansing and Michigan

LANSING, Mich., Oct. 8 /PRNewswire/ -- In a bold move that will awaken a slumbering giant on the Grand River, accommodate up to 500 new jobs for Lansing and further revitalize the downtown area, Blue Cross Blue Shield of Michigan subsidiary Accident Fund Insurance Company of America announced today it will establish its new national corporate headquarters in the Lansing Board of Water & Light's Ottawa Street Station power plant. The plan is part of a redevelopment agreement reached with the city and state.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070827/CLM117LOGO )

(Logo: http://www.newscom.com/cgi-bin/prnh/20071008/CLM058LOGO )

The agreement signals the start of a historic partnership process requiring the supportive efforts of local and state agencies as parties move forward to make this transformation a reality.

"Today, Accident Fund and our parent company - Blue Cross Blue Shield of Michigan - are committing long-term to the city of Lansing, the state of Michigan and the people of mid-Michigan," said Elizabeth R. Haar, Accident Fund president and CEO. "We are here in Michigan to stay, we are growing jobs here and we are stating to the nation that Michigan is a great place to do business."

The announcement was made this morning by Accident Fund together with Blue Cross Blue Shield of Michigan, as well as many state and local officials who gathered for a panoramic view of the site along the banks of the Grand River. The redevelopment will be the largest adaptive reuse of a historic power plant in the state.

"This is great economic news for Lansing and Michigan, and another demonstration of our corporate commitm
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SOURCE Accident Fund Insurance Company of America
Copyright©2007 PR Newswire.
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