1. Riddell’s Bay Golf & C.C. “Marketing” Meeting January 6, 2005

6. Members Next Five Yrs. (,000) ($1,500) 2. Short Fall $1,200 Operation Contribution ($2,700) Operating Capital 18,300 Operation Expenses $19,500 1. Operation Income

7. Members Next Five Yrs. (,000) $500 Operation Contribution after Entrance Fees & Other ($1,500) 2. Short Fall $2,000 Entrance Fees & Other Income

8. Members Next Five Yrs. (,000) $3,800 Total Capital Debt 1,900 Current Bank Loan $1,900 3. Capital Improvements

9. Shareholders Next Five Yrs. (,000) $0 Total 2,600 Proceeds from Proposed Development $2,600 4. Capital Improvements

10. Operating Capital (,000) 850 Unknown/Contingency $2,700 Total 400 Golf Course (sand, pump, R/O plant) 150 Clubhouse Equipment, Furniture, HVAC $1,300 Equipment,Carts,Computers

11. Operating Capital Improvements (,000) $1,900 Total 310 Contingency 110 Golf Services 1,140 Golf Course $340 Buildings

12. RBGCC Capital Improvements (,000) $2,600 Total 1,000 Front of House 600 Parking Lot $1,000 Maintenance Building

13. Funding- Capital Debt (,000) $4,500 *Equity $700 Equity Excess ($3,800) Total Capital Debt