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Capital Pacific Holdings, Inc. Chairman and CEO Hadi Makarechian Honored by the Horatio Alger Association of Distinguished Americans
Eight California High School Scholars Also Recognized With $20,000 Scholarship

Washington, DC – (March 6, 2008) – The Horatio Alger Association of Distinguished Americans is proud to announce that Hadi Makarechian, chairman and CEO of Capital Pacific Holdings, Inc., will be presented with the 2008 Horatio Alger Award and inducted as a lifetime member of the Association during ceremonies in Washington, DC, April 3-5, 2008.
  
The Association is equally proud to announce eight high school seniors from California will join Makarechian in Washington to be honored as Horatio Alger National Scholars.  Horatio Alger National Scholars will receive $20,000 scholarships towards a college education. The students have demonstrated integrity, perseverance in overcoming hardships, strength of character, academic promise, a commitment to pursue higher education, and a desire to contribute to society.   

This year's scholarship recipients from California are: Jade A. Berry from Orange, Pauline  P. Dinh and Hien T. Ho from Garden Grove, Kayah A. Franklin from Elk Grove, Jordan L. Harms from Mill Valley, Lashay Massey from Fresno, Jeff Orellana from Redondo Beach and Adam D. Raize from Palm Desert. 

"Our 2008 members are a diverse group of individuals who serve as extraordinary role models for our nation's most ambitious youth.  Each of them has leveraged hard work, courage and determination to overcome extreme adversity and achieve the American Dream of wealth and success," said Horatio Alger Association Chairman Dennis R. Washington. "For over 60 years, the Association has been dedicated to honoring those that have defied the odds.  We are proud to continue that tradition this year."

The 61st annual events will take place in various historic landmarks in our nation's capital such as the U.S. Supreme Court, the U.S. Department of State, and DAR Constitution Hall.  The events will provide an opportunity for some of the nation's most impressive and determined young people to learn firsthand about the philosophies and experiences that helped the 2008 Horatio Alger Award recipients surmount significant obstacles to achieve successful lives.

Also being inducted in April are William F. Austin, CEO, Starkey; J. Robert Beyster, retired chairman and CEO, Science Applications International Corporation (SAIC); Gary P. Brinson, founder and chairman, The Brinson Foundation; Joseph "Joe" Clark, chairman, Aviation Partners Boeing and chairman and CEO, Aviation Partners Inc.; G. Wallace F. McCain, cofounder and vice chairman, McCain Foods Limited and chairman, Maple Leaf Foods Inc.; Lee E. Mikles, cofounder, president and CEO, FutureFuel Corporation; Joseph R. Moderow, senior vice president, general counsel and board member (retired), United Parcel Service; Aulana L. Peters, retired partner, Gibson, Dunn & Crutcher; and Robert J. Schlegel, chairman and CEO, Pavestone Company, L.P.

In response to receiving the Horatio Alger Award, Hadi Makarechian stated, "The most important thing we can do in life is help each other.  There is no better feeling than giving a part of ourselves to someone else that needs support and leadership.  The Horatio Alger Association's mission is based on this.  I am humbled and honored to have the chance to share my own experiences and possibly inspire others who have the desire to achieve." 

Makarechian was born in Hamadan, Iran, in 1948. He attended private schools and came to the United States at age 16 to attend college at the State University of New York.  While a student, he met and married his wife, Barbara. After graduating in 1972, they returned to live privileged life in the upper class of Iran.

Makarechian's world came crashing to a close with the exile of the Shah and the rise of Ayatollah Khomeini in January 1979. The new regime blacklisted companies and individuals who had worked for the Shah's government or the United States. Khomeini's regime seized the Makarechian family's holdings literally at gunpoint. Makarechian was able to flee with his wife and children to the United States, but they had to leave everything else behind. 

In America, Makarechain started working with his hands, taking jobs in construction, painting and landscaping to provide for his family. He was given the opportunity to participate in the development of a 54-unit oceanfront condominium project. As part of the agreement, he received ownership of six units when the project was finished. This started a chain of acquisitions that were leveraged for greater acquisitions. As he continued to prosper, Makarechian moved his family to California, where he founded development companies including Capital Pacific Holdings, Inc. In less than two decades, one of his companies has built more the 30,000 homes in California and the Southwest, and another company is developing a 23,000-acre master-planned community in Colorado Springs.
Makarechian's philanthropic activities include providing significant support to Chapman University, where he serves on the Board of Trustees, and to the State University of New York, U.B., where he is member of the SEAS Dean's Council and Delta Society. He has also provided ongoing charitable support to many organizations including Habitat for Humanity, Boys and Girls Clubs, MiOcean, HomeAid America and the Boy Scots of America, to name a few.  Additionally, Makarechian has been a proud member of O.C. Sheriff Aero Squadron and the Sheriff Reserves program since 2004.

About The Horatio Alger Association

Founded in 1947, the Horatio Alger Association of Distinguished Americans continues to fulfill its mission of honoring the achievements of outstanding individuals in our society who have succeeded in spite of adversity and of encouraging young people to pursue their dreams through higher education. The Horatio Alger Association offers scholarships through three annual programs: the National Scholarship Program, State Scholarship Programs for high school seniors and the Horatio Alger Military Veterans Scholarship Program for U.S. veterans of the Afghanistan and Iraq conflicts. The Association now awards more than $12 million annually in college scholarships, totaling $52 million in recent years. For more information about the scholarships, please visit www.horatioalger.org.

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