President:                     George Holmes (435) 654-2204

Secretary:   
Office Assistant:            Sandy

Phone:                 (435) 654-2053

Address:                        190 N. Main #5 P. O. Box 9
City & State:                  Heber City, Utah

Water Source:               Lake Creek and Tributaries 55-8237 Others 882, 8875, 8642 etc.

Area Irrigated:             Sec 33, 34, T3S, R5E Sec 1, 2, 3, 4, 5, 9,10, 11, 12, T4S, R5E
                                       Sec 6, 7, T4S, R6E

Total Shares:

Types of Stock:             Primary             Ann Fee:    $25
                                        Sprinkled                              $35
                                        1^st Class                                 $5
                                        2^nd Class                                $2
                                        3^rd Class                                 $1

Delivery:                        9 AF/Share

Shares/acre:                  3 acres/Share

Annual Fee:                    $40/share 
                                          Sprinkled acres $35

Transferability:               Only within the drainage or distribution area.

Delivery Area:                Southeast of Heber City

Sale Price/Share:           $30-35,000 per share for Primary

Rental Rate/Share:

History:

May 22, 2000                 2 shares were advertised available for $45,000 each.
                                        Seller said that he had sold 1 AF for $4800. Indicated that 
                                        the company delivered 9 acre feet per share.