Paynter Realty & Investments, Inc. develops and manages community and neighborhood shopping centers primarily from ground up. The company also purchases existing centers which provide an add value opportunity and will consider the acquisition of investment grade centers for its portfolio. The submittal of the above referenced opportunities is appreciated and will be responded to promptly.

A list of properties developed by the company to date is as follows:

*THE MARKETPLACE AT HANFORD (Hanford)                                      308,447 sf
Target, Michael's, Marshall's, PetsMart, Old Navy, Ulta, Maurices

*THE MARKETPLACE AT HANFORD WEST (Hanford)                            202,466 sf
Lowe's, Wendy's

*PARK PLACE PROMENADE (Visalia)                                                    172,086 sf
Kohl’s Department Store, Ross Dress for Less, Dress Barn, Men’s
Wearhouse, Maurices

*EASTGATE CENTER (Fresno)                                                               244,165 sf
Foods Co (Ralph’s), Home Depot, Walgreens,
Anna’s Linens

*PORTERVILLE MARKETPLACE (Porterville)                                         326,949 sf
Target, Kohl's, McDonald’s, Maurice's, PetSmart, Big 5, Auto Zone,
Western Dental, Marshalls, Famous Footwear

*WOODWARD PAVILION (Fresno)                                                        95,464 sf
Vons, Bank of America, RadioShack

*CLOVIS CROSSING (Clovis)                                                                450,000 sf
Wal-mart, Dick's Sporting Goods, Steinmart, Homegoods, Jo-Ann's
Petco, Old Navy, Ulta, BevMo!, Maurices

*GATEWAY PLAZA (Visalia )                                                                 120,194 sf
Dick's Sporting Goods, Staples, Rent-A-Center, Sleep Train

CLOVIS COUNTRY (Clovis)                                                                   116,070 sf
Save Mart, CVS Drug Store, Taco Bell, Texaco

SUNFLOWER MARKETPLACE (Clovis)                                                   188,259 sf
Wal-Mart, Hollywood Video, Auto Zone, Kinko’s,
Noble House

MARSHALL’S PLAZA (Modesto)                                                              86,000 sf
Marshall’s, Guitar Center, Dress Barn, Wells Fargo Bank

SEQUOIA PLAZA (Visalia)                                                                     293,000 sf
Costco, HomeBase, Circuit City, Pier One Imports

HANFORD TOWNE CENTER (Hanford)                                                  223,035 sf
Albertson’s, Thrifty, Orchard Supply, Staples,
Hollywood Video, Carl’s Jr.

THE CANYONS (Fresno)                                                                        186,000 sf
Food Maxx, Payless Drug, Wherehouse
Entertainment, Millers Outpost, Big 5 Sporting Goods,
KFC, Jack-in-the Box

WALGREENS CENTER (Fresno)                                                               26,000 sf

MOONEYSIDE PLAZA (Visalia)                                                                  6,000 sf
Wherehouse Entertainment

THE MARKETPLACE (Santa Clarita)                                                       110,957 sf
Stater Bros, McDonald’s, Mobil, Kragen, Midas,
El Pollo Loco, Carl’s Jr.

PLAZA DEL LAGO (Tulare)                                                                     150,000 sf
Wal-Mart, Taco Bell

HOLLYWOOD VIDEO (Sanger)                                                                 7,000 sf HOLLYWOOD VIDEO (Bakersfield)                                                           7,000 sf
HOLLYWOOD VIDEO (Los Banos)                                                            7,000 sf
HOLLYWOOD VIDEO (Lemoore)                                                              6,000 sf HOLLYWOOD VIDEO (Reedley)                                                               7,400 sf

AUTOZONE (Kingsburg)                                                                            5,400 sf

*Centers with continuing ownership interest.

In addition to the projects listed above, David Paynter has been involved through previous partnerships in the development, leasing and management of over 40 shopping centers.