We want to thank MacLaurin Williams* for helping IDACORP Energy to sublease our surplus office space so quickly and at very favorable rates, especially in light of the depressed office market in downtown Denver. We have been closing out operations of this division of the company and we needed to maximize any potential income from the disposal of assets.

MacLaurin Williams* accomplished the following for IDACORP Energy:

1) Obtained over $607,000 in gross income versus our lease obligation of nearly $690,000.

2) Subleased our space in just over 40 days and got the sublease rent started in less than two and a half months from the date that we retained your firm.

3) Achieved $9.80 per RSF per year more than the asking rental rate recommended by the other broker whom we considered hiring. (That’s 61% higher.) We figure that our decision to hire MacLaurin Williams* saved IDACORP at least an additional $236,000, maybe more if the other broker could not have achieved our full asking rate.

4) Subleased the space “as-is” and at our full asking rate, which was $0.50 per RSF per year more than even the Landlord obtained for his own direct lease space next door.

5) Limited our total net exit costs to only $0.17 per dollar.

6) Assisted us initially to purchase 7,500 RSF of high quality, used Knoll office furniture for only $7,500, when we first leased Suite 2100 at One Tabor Center. This inexpensive office furniture ultimately helped us to sublease Suite 2100 much faster and at a higher rental rate. Additionally, you helped us to dispose of the excess furniture by finding several local liquidators.

While it is not exactly fun to shut down a company, we are still very, very pleased with the outcome of MacLaurin Williams'* efforts. When we first started this project, we certainly did not believe that we would come out of this situation nearly as well as we have. Thanks again for your superior work.

-- Dona King
Director, Human Resources & Administration
IDACORP, Inc

*due to company name change since this letter was written, alterations have been made in order to refrence MacLaurin Williams' current name..