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April 24, 2001 Dear Tenants: We are actively pursuing a variety of prospects as tenants for Highcrest Park. Our pursuit is focused on the traditional office, light manufacturing and storage markets. Recently, in spite of our targeted marketing, a charter school has become interested in locating here. Prior to finalizing a lease with the school, I would like to hear any comment you may have regarding how your operation may be impacted by having a school as a neighbor. While the details are yet to be worked out, the proposed school would have the following: . It would occupy 30-50,000 square feet in the far south and western portion of building number 1 (west building). . It will have an enrollment of 320 students initially, 550 maximum. . The students will not have regular access to the common areas of the buildings or grounds. . The initial stage will accommodate kindergarten through 5th grades. . The second phase, if implemented, would include a middle school. While a school does not exactly fit the mold of a typical tenant at Highcrest, we see some other positive attributes with having a school here. For instance, the parking used by the school will be limited, thereby leaving more available parking for the rest of the Park. The activity generated by the school will enhance the image of the building. The school will also help the infrastructure of the building work at the scale that was intended, which will lower the per square foot operating expense shared by all tenants. Please give me your comments quickly, as the school needs to begin preparations for the next school year now. I can be reached by email atsdorff@meritexenterprises.com. If you have other questions about the school operation, I will attempt to answer. Best regards, Steve Dorff Property Manager Highcrest Park SD:st ~