I am awed by the honor and the responsibility as I assume the role of president of the greatest show in America. The confidence you have placed in me is accepted with humility, and I pledge to do the job to the best of my ability. Reflecting on the incredibly successful leadership of Don Jordan and Jim Bloodworth is very sobering. The next three years promise some real challenges for all of us.

During the next several years, we will embark on an ambitious building program that will provide state-of-the-art facilities for our Show's future that have no rival anywhere in the world. In order to accomplish our goals, we must endure the growing pains associated with this type of plan.

With construction of a new exposition building to begin early next year and the very real possibility of a new football stadium on the horizon, the Astrodome complex is going to be subjected to a major transformation. With that in mind, the Houston Livestock Show and Rodeo is presented with the monumental task of continuing to present a world-class event during this construction period.

Recently, Harris County officials approved plans to build a 1.3 million square foot facility that will take approximately 21/2 years to complete. This structure will be located on the north side of the Astrodome between Circle Drive and our existing warehouse. It will be the new home for our livestock show, as well as provide year-round offices and meeting room facilities for our staff and committee members.

We are still awaiting the outcome of the National Football League's decision to award an expansion franchise, which impacts the future of our Show dramatically. We are fully committed to participate in the construction and use of a new stadium, provided the NFL grants the city of Houston and Bob McNair a franchise before the Jan. 30, 2000, deadline agreed to by all parties. There is also the possibility of moving an existing team to Houston, but the dynamics of this situation are ever changing. Regardless, we must be poised to act if either of these possibilities materializes.

In the event that these projects are built simultaneously, we have a serious dilemma to face regarding the massive reduction of available on-site parking. During the 1999 Show, more than 315,000 people used the services of our very efficient METRO Rodeo Express shuttle bus program. However, projections indicate that we would have to double the current ridership during these construction projects to keep pace with our record attendance of more than 1.85 million people in 1999. That's a major concern for all of us.

We could become discouraged and view this as an insurmountable problem, or we can tackle the situation head-on with the spirit that has made our Show grow to the heights that it enjoys today. It is my expectation that all of us will join together and choose the latter.

There is some good news which is expected to affect next year's Show. We will get some immediate relief with the addition of approximately 3,000 parking spaces which are being constructed this summer directly across the street from the Astrodome off of Kirby Drive. These spaces are expected to be available for use during the 2000 Show.

We are currently exploring off-site parking solutions, which include the possibility of adding new shuttle locations. Unfortunately, the Gulfgate Mall shuttle location will not be available next year due to a major renovation project at that site.

We also are examining the potential of a new parking facility on land owned by the Houston Livestock Show and Rodeo located south of the Astrodome at 288 and Airport Boulevard. If approved, parking at this site would not be available until the 2001 Show, which coincides with the anticipated construction period.

As you can plainly see, we have some very important decisions to make that will ultimately affect the future success of our Show. We must join forces to do whatever it takes to make the next few years as painless as possible. Your role as volunteers and supporters of the Houston Livestock Show and Rodeo is even more important. We may all be required to make greater sacrifices in order to achieve our goals during this period.

When times get tough, remember our purpose and what our Show is all about. During the last several months, we have awarded more than $4.2 million in scholarships to the future leaders of the state of Texas, which is part of the Show's $6.6 million commitment to education this year. We are making a difference in the lives of many of these 427 students, some of whom would not have been able to attend college this fall without our assistance.

Remember these young people when it's tough finding a parking place at next year's Show. Remember the hundreds and thousands of lives we are positively influencing each year through our scholarship and educational programs before you choose not to attend a performance because "it's too difficult to get there."

We must do whatever it takes during the short term to ensure a bright future for the Houston Livestock Show and Rodeo -- the young people of Texas are counting on us.

P. Michael Wells President