What's New?

January 3, 2004

Greetings from the Ventana Canyon Alliance.

Following our recent acquisition of the Lodge at Ventana Canyon, we have begun making plans to improve this wonderful property, and to upgrade the services provided to members of the Ventana Canyon Golf & Racquet Club, as well.

You may recall that our minimum target for equity investment was 120 units, and our goal was to sell at least 220 for a total of $5,500,000. As of the end of the year, investors had purchased 266 units, representing $6,650,000. This starts the Alliance off on a firm financial footing, with adequate reserves for capital improvements and to meet contingencies.

Some people have asked to purchase investment units after the first of the year; and, in order to accommodate them, the Alliance Board of Managers has extended the Offering to January 31, 2004. Should you wish to take advantage of the extension, please feel free to contact one of the Managers or sales volunteers listed below.

Best Wishes for a Healthy and Happy 2004,

Board of Managers,

Ventana Canyon Alliance

Managers                                                                     Sales Volunteers

Travor Beste                615-8957          Paul Adamsbaum          529-0699

Marylyn Canfield          299-5208          Dave Carney                577-1827

Jerry DHuy                 529-1148           Tim Dittmann                529-4825

Jim Giancola                 529-7220          Bill Moore                    529-9158

Michael Goode             577- 8651         Don Riskind                 299-6710

Jerry McCoy                529-7222  

Taylor Payson              529-2061

Frank Terrizzi               577-8836