Decatur Country Club

First, we are pleased to advise that Club Financing, LLC, which is a company comprised of ten (10) members (only ten for securities law purposes), has acquired the loans which Wachovia Bank made to Decatur Country Club. Larry Weaver with Wilmer & Lee, P.A. handled the successful transaction on behalf of Club Financing, LLC, but advises that the terms of the transaction are strictly confidential. However, Decatur Country Club has entered into a forbearance agreement with Club Financing, LLC on favorable terms for a period of two (2) years. Funds to pay the interest on the indebtedness have already been accumulated through the special assessments and are being held in a special escrow account.  Club Financing, LLC is, in essence, acting as the friendly bank of Decatur Country Club for a term of two (2) years. The members of this company and Larry are to be commended as they have given our Country Club a real opportunity to succeed and prosper.

Second, Club Properties, LLC has been formed and has identified securities counsel which it will retain for the preparation of a private placement memorandum to provide to prospective investors of Club Properties, LLC. Members of Decatur Country Club will be offered units of ownership in Club Properties, LLC and will own the Club facilities.  The memorandum is required by securities law and will describe all aspects of an effort to raise a specified amount for purchase of the loans from Club Financing, LLC. When sufficient funds are raised by Club Properties, LLC, and the loans are acquired, Club Properties, LLC will extinguish the indebtedness owed to it by Decatur Country Club in exchange for a conveyance of the club facilities and equipment. Club Properties, LLC will then lease the club facilities and equipment back to Decatur Country Club under a long term lease, the terms of which are currently being developed by Larry and his firm.

Third, and importantly, Decatur Country Club became profitable in September and plans to continue its trend of profitability. It is expected that the membership, which has grown since last May, will continue to grow and our Country Club, with excellent management and exceptional service, will rebuild to a strong position and serve its members and our community for many years to come. It should be noted that the plan of restructure developed by Larry and implemented by our club membership provides a structure which is not unlike the structures of other country clubs and, with proper management in place, should allow our Country Club to grow and prosper.

Thank you all very much for your support in our efforts thus far and for your continued support.

John P.Peters
President