3 July 2000

Greg and Debra Barnes

Clearwater, FL 33756

Dear Mr & Mrs Barnes:

We are in receipt of your letter of June 13th, 2000. We find your allegations to be totally unfounded, nonetheless, and while under no legal obligation to make any refund of your donations, the IAS has decided, upon review of your letter and your clear indication that you no longer desire to be a member of the IAS, to return to you the donations you made.

Please find enclosed a Release and Waiver for your signatures. The Association will, upon receipt of the executed Release and Waiver, forward to you a cashier's check in the amount of $40,660 being equal to all the donations you made to the IAS, and will cancel your memberships in the Association.

Sincerely,

Lise Cohee

Legal Affairs Director

IAS Administrations

on behalf of the IAS

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