GRAHAM INVESTMENTS, INC.

Founded in 1978 by Joe Graham and Sheri Kuykendall, the company began by representing a small number of investors in the purchasing of real estate, primarily income producing. In 1985 we began our mortgage lending operation and in 1993 formalized it with the formation of Graham Mortgage Corporation. Since these early years, the number of representations have grown somewhat, but the funds under management have grown from a few million to the current figure of approximately $250,000,000. Our funds are available to us on a daily basis and are unregulated and unrestricted by any governmental guidelines. While in the past we have done joint ventures, today we are concentrating on loans and the purchase of finished single family residential lots held for large production homebuilders. Please review the other pages for more detailed guidelines for our investment interests.

In addition to the above, we are a certified real estate broker and serve as the out sourced Real Estate Department for The University of Texas Southwestern Medical Center at Dallas and an advisor to Texas Scottish Rite Hospital for Children in their real estate activities. Mr. Graham also serves on the boards for Camp John Marc, the Metro Dallas Homeless Alliance, and Ronald McDonald House of Dallas.