Circular 112 / 7.12.2005 / Lodge external repainting programme / 2006.

Updated 8th March 2006

Circular 112 / amended

Completed Lodges are set in a blue font for ease of reference.

In 2005 we repainted 20 Lodges costing in excess of €50,000. This cost is included in the management charge spread across all owners. CGM has now issued instructions to Clifden Glen Services to repaint the following shareholders Lodges:

Phase 1/2006

6 RC (completed)
9 CdB completed)
15 KD (completed)
18 FAA (completed)
19 RMcM (completed)

Phase 2 / 2006 (subject to prompt payment of management fees by all owners)

23 TK (completed)
28 HK (completed)
33 L&A F (completed)
34 SD & AB (completed)
35 Reps of MC (completed)

Phases 3 / 2006 (subject to prompt payment of management fees by all owners)

36 PS (completed)
37 M&GD (completed)
38 TT&G (completed)
39 D & O'M (completed)
41 BH (completed)

Phases 4 / 2006 (subject to prompt payment of management fees by all owners)

42 GD (completed)
43 KL (completed)
45 GM
46 GM
47 AE

Any property whose management fee is not paid to date will be skipped and not re-painted.

Lodge 56 is being redecorated at the special request of the owner (who is advancing the monies to CGM). Completed in January 2006.

Each phase will be authorised based on a review of CGM cash flow which is a function of management fee collections.

CGS will be using similar long lasting material in the redecoration to that used in 2005.

How do we decide who to paint? We started at number 1 and see if they are a shareholders and worked our way sequentially.

As soon as the Lodges are all repainted we will start on the Cottages which thankfully are in good condition.

Management time: 60 minutes including dealing with CGS.

Issued by:

Clifden Glen Management (2005) Plc
Market House, Churchtown. Mallow, Co Cork

Management time: 1 hours

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