Re:

According to discussions with Steve over the last 24 hours, we can keep the new barge at Crown Bay until November at the rate of not more than $90 a day (monthly rate might be lower). A safe harbor for storms could be provided by Steve in the lagoon on Water Island next to his barge. I went over what he would do in a storm and it seemed reasonable. As suggested by Darren I discussed possible contract terms with Steve and he is to give me a simple proposal today. We mutually pledged to have a contract in place by the time he got back here by communicating by phone and e mail. So, we have a solution in hand for berthing for a time period which allows us to pursue a longer term plan and I have embarked upon a program to get a fair contract with Steve. I assume that I have the authority to conduct the negotiations and to present the results to you and to Darren. In this role I will confirm independently the price and terms of berthing at Crown Bay directly with the owners of the property. I will pursue the Rampino contract to conclusion to obtain written contracts for both berthing and with Steve which meet with your approval. Please let me know if I am not on the right track here.

Lafayette Contractors LLC

6100 Red Hook Quarter, Suite A2-7

St. Thomas, VI 00802

Tel: 340 779-8054

Fax:340 779-8055

Cell:340 690-7194