Phase Quotations | Page 2

Phase three is going to be the really tough one. They need phase three to make this a viable company.

Phase one was to move into the building physically,

Phase one has proven to work exactly as we had hoped it would.

Phase one, at least, met very modest expectations. It came late and it was uneven.

Phase I will consist of 33 units, which we plan to have ready to move into by April 15 of 2007. Phase II will consist of 24 units that we hope will be finished by mid-summer of 2007.

Phase four, if we can get it open by the end of the year, is going to be great.

Phased retirement is unlikely to be an option on final salary schemes.

We feel the community is talking about a community center, which could be phased in or discussed at a later date. We want to get the outdoor pool solidified. We have to approach this in a financial and judicious way.

We're just about to enter the next phase where those suppliers will push their information to us as they ship the products. With this process, we will have the capability to see product on the way to us.

We're into a phase of very hard bargaining. A lot of the underbrush has been cleared away. Some obstacles have been overcome, but significant gaps remain.