First - my apologies for getting this newsletter to you in the beginning of the 4th quarter - we have been just a bit busy completing the following projects in 1996 and 1997: wSold - 1,414 units totaling $40,000,000. wMarketing 549 units totaling $19.5M in five cities w$100M in Total Tax Protests for 3,000 apartments wConsulting Partners in the development of four different apartment communities in Albuquerque and Rio Rancho totaling 945 units. wFour feasibility studies for new apartments. wMarket positions and analysis statements for over 5,000 units in the State. wRent and Occupancy survey of 150,000 units w20 year historical Expense Survey for some 45,000 units