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MOODY'S ASSIGNS Aa3 RATING TO THE CABARRUS COUNTY DEVELOPMENT CORPORATI... Page 3 of 3 <br />Backup Analyst <br />Public Finance Group <br />Moody's Investors Service <br />Contacts <br />Journalists: (212) 553.0376 <br />Research Clients: (212) 553-1653. <br />©Copyright 2007, Moody's Investors Service, Inc. and/or its licensors including Moody's Assurance Company, Inc <br />(together, "MOODY'S"). All rights reserved. <br />ALL INFORMATION CONTAINED HEREIN IS PROTECTED BY COPYRIGHT LAW AND NONE OF SUCH INFORMATION MAY BE <br />COPIED OR OTHERWISE REPRODUCED, REPACKAGED, FURTHER TRANSMITTED, TRANSFERRED, DISSEh9[NATED, <br />REDISTRIBUTED OR RESOLD, OR STORED FOR SUBSEQUENT USE FOR ANY SUCH PURPOSE, iN WHOLE GRIN-RAR-T--, IN-ANY-----~- <br />FORMORMANNER-OR BY-ANV~MEANS-'WHATSOEVER-BY ANY PERSON WITHOUT~MOODy'S-PRIOR~WRITTENTOtdSENT-TaI <br />information contained herein Is obtained by MOODY'S from sources believed by it to be accurate and reliable. Because of the <br />possibility of human or mechanical error as well as other factors, however, such information is provided "as is" without warranty <br />of any kind and MOODY'S, In particular, makes no representation or warranty, express or implied, as to the accuracy, timeliness, <br />completeness, merchantability or fitness for any particular purpose of any such information. Untler no circumstances shall <br />MOODY'S have any liability to any person or entity for (a) any loss or damage in whole or in part caused by, resulting from, or <br />relating to, any error (negligent or otherwise) or other circumstance or contingency within or outside [he control of MOODV'S or <br />any of its directors, officers, employees or agenLS in connection with the pro[urement, colfectlon, compilation, analysis, <br />Interpretation, communication, publication or delivery of any such Information, or (b) any direct, Indirect, special, consequential, <br />compensatory or Incidental damages whatsoever (including without Ii mltatlon, lost profits), even If MOODY'S Is advised in <br />advance of [he possibility of such damages, resulting from the use of or Inability to use, any such information. The cretlit ratings <br />and financial reporting analysis observations, if any, constituting part of the Information contained herein are, and must be <br />construed solely as, statements of opinion and not statements of fact or recommendations to purchase, sell or hold any <br />securities. NO WARRANTY, EXPRESS OR IMPLIED, AS TO THE ACCURACY, T[hIELLNE55, COMPLETENESS, MERCHANTABILITY OR <br />FITNESS FOR ANY PARTICULAR PURPOSE OF ANV SUCH RATING OR OTHER OPINION OR INFORMATION IS GIVEN OR MADE 8Y <br />MOODY'S IN ANY FORM OR MANNER WHATSOEVER. Each ra[Ing or other opinion must be weighed solely as one Factor in any <br />investment decision made by or on belialF of any user of [he information contained herein, and each such user must accordingly <br />make its own study and evaluation of each security antl of each Issuer and guarantor of, and each provider of credit support for, <br />each security that it may consider purchasing, holding or selling. <br />MOODY'S hereby tlisUOSes that most issuers of debt securities (inclutling corporate and municipal bonds, debentures, notes and <br />commercial paper) antl preferretl stock ra[etl by MOODV'S have, prior to assigmnent of any rating, agreed to pay to MOODY'S for <br />appraisal and ra[Ing services rendered by it fees ranging from $1,500 to approximately $2,400,000. Moody's Corporation (MCO) <br />and Its wholly-owned credit rating agency subsidiary, Moody's Investors Servke (MIS), also maintain policies and procedures to <br />atldress the independence of MIS's ratings antl rating processes. Information regarding certain affiliations that may exist <br />between directors of MCO and rated entities, and between en[Ibes who holtl ratings from MI5 antl have also publicly reported to <br />the SEC an ownership Interest In MCO of more than 5%, Is postetl annually on Moody's wehsi[e at www.moodys.mm under the <br />hzading "Shareholder Relations -Corporate Governance -Director and Shareholder Affiliation Policy." <br />http: / /www. moodys. com /moodys/cust/research / MDCdocs / 01 / 2006400000425932. as... 2 / 21 / 2007 <br />