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ew would be billions of dollars of distressed assets. This year we have entered into a contract for the development of a distressed golf project in St. Lucia. We have reached agreement with the government of St. Kitts to start up, again, a resort project on the west coast of St. Kitts that had been aband
and on a friendly basis, separated our relationship with Lewie. In 2006 we invested $4 million to purchase one-third of Apes Hill Club, Barbados. South Padre Island proved a success in that we sold approximately 150 houses in 2005, 200 in 2006, 170 in 2007, and in each of these years had cash flow of $3 million
w would be billions of dollars of distressed assets. This year we have entered into a contract for the development of a distressed golf project in St. Lucia. We have reached agreement with the government of St. Kitts to start up, again, a resort project on the west coast of St. Kitts that had been abando
ime it paid its lawyers, court costs, and its debt of honor to directors, etc., it had approximately $4 million net remaining. In 2004 we purchased South Padre Island, our joint venture with the Lloyd Bentsen family in South Texas, from the fund run by Lewie Ranieri, and on a friendly basis, separated our relatio
w would be billions of dollars of distressed assets. This year we have entered into a contract for the development of a distressed golf project in St. Lucia. We have reached agreement with the government of St. Kitts to start up, again, a resort project on the west coast of St. Kitts that had been abando
ime it paid its lawyers, court costs, and its debt of honor to directors, etc., it had approximately $4 million net remaining. In 2004 we purchased South Padre Island, our joint venture with the Lloyd Bentsen family in South Texas, from the fund run by Lewie Ranieri, and on a friendly basis, separated our relatio
w would be billions of dollars of distressed assets. This year we have entered into a contract for the development of a distressed golf project in St. Lucia. We have reached agreement with the government of St. Kitts to start up, again, a resort project on the west coast of St. Kitts that had been abando
ime it paid its lawyers, court costs, and its debt of honor to directors, etc., it had approximately $4 million net remaining. In 2004 we purchased South Padre Island, our joint venture with the Lloyd Bentsen family in South Texas, from the fund run by Lewie Ranieri, and on a friendly basis, separated our relation
sition after our substantial expenditure of time. Looking forward to seeing you at the Board meeting. I believe you will love Bright's Creek. (b) St. Lucia — In this case it seems to me that history is circular, not linear, and the beat goes on. After Scotia Bank first agreed to, and then reversed their
ans that all comments on the future are speculation, but the past is the truth, the truth, the truth. The purpose of this letter is to briefly 1. South Padre Island — The history review the operations of Landmark for February. of sales at South Padre Island since it began in 1999 are as follows: 1999 28 200
uld be billions of dollars of=20 distressed assets. T=is year we have entered into a contract for the development of a distressed golf project in St. Lucia. We have reached agree=ent with the government of St. Kitts to start up, again, a resort project on the west co=st of St. Kitts that had been aband
time it paid its lawyers, court costs, and its debt of honor to directors, etc., it had approximately $4 million net remaining. In 2004 we purchased South Padre Island, our joint venture with the =loyd Bentsen family in South Texas, from the fund run by Lewie Ranieri, and on a friendly basis, separated our relation
new would=be billions of dollars of distressed assets. This year we have entered into a contract for the development of a distres=ed golf project in St. Lucia. We have reached agreement=20 with the government of St. Kitts to start up, again, a resort project=on the west coast of St. Kitts that had been ab
, and on a friendly basis, separate= our relationship with Lewie. In 2006 we invested $4 milli=n to purchase one-third of Apes Hill Club, Barbados. South Padre Island proved a success in that we sold approximately 150 houses in 2005, 200 in 2006, 170 in 2007, and in ea=h of these years had cash flow of $3 million
uld be billions of dollars of=20 distressed assets. T=is year we have entered into a contract for the development of a distressed golf project in St. Lucia. We have reached agree=ent with the government of St. Kitts to start up, again, a resort project on the west co=st of St. Kitts that had been aband
time it paid its lawyers, court costs, and its debt of honor to directors, etc., it had approximately $4 million net remaining. In 2004 we purchased South Padre Island, our joint venture with the =loyd Bentsen family in South Texas, from the fund run by Lewie Ranieri, and on a friendly basis, separated our relation
Entities connected to both St. Lucia and South Padre Island

Jeffrey Epstein
PERSON
Barbados
LOCATIONSt. Kitts
LOCATION
Landmark
ORGANIZATIONSouth Padre
LOCATION
North Carolina
LOCATIONApes Hill
LOCATIONLewie Ranieri
PERSONBarton
PERSON
the Board of Directors
ORGANIZATION
Barry Diller
PERSON
Golf Digest
ORGANIZATIONthe Court of Claims
ORGANIZATION
South
LOCATIONFour Seasons
ORGANIZATIONApes Hill Club
ORGANIZATION
Ritz-Carlton
ORGANIZATIONArcos Gardens
LOCATIONLake Presidential
LOCATIONLandmark Land Company, Inc.
ORGANIZATION