Julie Lavoie

Hopefully, the below info. will add clarity to the conversation on the recently announced offer to purchase PLC by ELS. Here are the details on numbers as I understand them: Total Initial Offer: $61 million 622 PLC Shareholders Payout is app. $90,000 per share after our $5.2 million bank debt is paid off out of the $61 million. There should be an additional approximate $2.5 million payout of our capital reserves. These funds belong to PLC shareholders. Total Payout to shareholders, as currently proposed, comes out to approximately $93-$94,000 per share. This is only an approximate figure as this is an initial offer and due diligence of the park has to be completed before a final offer is tendered. Shareholders maintain ownership of their homes. Park will remain as 55+, mobile home park only. This will be spelled out in a new Park Prospectus. After due diligence and negotiations, the numbers may increase or decrease by a small percentage. Chances are the final number will be somewhere in the $90.000 to $100,000 range, per share. The President of the Board has these details. Shareholders should request access to this information. The Board should be completely honest and transparent for the entire community. They have a fiduciary responsibility to do so. The Board needs to hire a competent attorney, an independent CPA, and possibly a MAI appraiser experienced in these types of transactions to avoid missteps and unnecessary complications. Information workshops should be organized with these professionals in attendance to communicate the offer details and answer all questions from members of the community accurately. Full and Fair Disclosure should be maintained as this offer is vetted and negotiated. I hope this information is helpful. Please share this with our fellow shareholders.