Las Campanas 3rd Quarter Update

Restoration of the indoor pool surface and decking at Las Campanas Spa and Tennis Center. Fresh paint and the addition of plants and furniture.
Renovation and expansion of the putting green near the starter at the first tee for the Jack Nicklaus Sunrise Course .Entering into an agreement with Foretees as our tee time service provider for both of the Jack Nicklaus Signature Courses and Members First as our web site/bulk email service provider. This improvement with Members First will be implemented at the beginning of 2012.
Actions taken during the 2nd quarter are taking effect, with visible improvements to the turf and turf-reduction area conditions on our golf courses at Las Campanas.

Las Campanas Golf course water pipeline update:
Pipeline and lift station design complete.
Contracts awarded
One for the pipeline
One for the lift station
One for project management
Work is underway on both phases of the project.
Pipeline is expected to be fully installed by the end of the year.
The lift station will be operational by May 1, 2012.
Discussions continue with several parties regarding providing water from the river to the courses.