Dear Fellow Investors:

In the year of the Millenium, ignoring predicted fall of the market and other worries, the group proceeded foward with agreed upon expansion plans. Our efforts on behalf of our investors was marked by better than expected growth due to timely purchases, high demand for our product and oportune sales. We were able to take advantage of recent passing of zoning rules changes and higher index of migration of the population towards Florida. It is my pleasure to report the realization of our profit and growth goals for the year 2000.

Income from sales neared the half million mark, and increase of 8%. Properties purchased also climbed by a similar percentage adding $300,728 to our inventory.

Indicating better management of our costs, the company's paid commissions declined, despite volume growth, to $53,941, an advance of 3.4%.

Although modest, the company engaged in a limited publicity and advertising strategy.
Cost of this program was limited to high visibility properties that require representation in local publication. The strategy proved successful with a minimal investment if less than 2% to capital.
Corporate expenses such as accounting, auditing, travel, entertainment, professional consultant fees, equipment, legal dues, federal and city registrations, utilities, home office maintenance, taxes, etc., were also managed strictly and held to a very reasonable 4.2% to sales.

Finally, net profit grew by 7.2% over 1999, a result of 2.2% better than goal.

Our plans are to repeat all the successful actions of 2000 and expand those which produced better than expected results, such as a more comprehensive advertising campaign, membership and board presence in more of the local real estate associations and increased participation in legislative initiatives regarding real estate, all of which have contributed to the years very favorable returns.

Although continuing our current concentration of business in the Hillsborough, Pinellas and Tampa Bay markets, we have reason to believe that there are opportunities in adjacent markets. We are at this point willing to participate only if the indicators and timetables are in our favor.

We want to thank our investors for the loyalty and support shown throughout the year and look forward to an even more profitable year of 2001.

Thank you,
Geoge Damiani, CEO