HLD Land Development Limited Partnership Units V.HLD.UN

RE: Fraser Valley Real Estate

[JungleB]

If this deal falls through there is a possiblilty that we will not get the shaft. Another bidder will then have the opportunity to offer us something closer to what I think is fair market value for our assets (but at this point I would vote for anything equal to or better than the offer from Landus, especially if it came from someone else). Michael Thornton advised on this board that it is not the mandate of the BOD to solicit offers and suggested that we approach any interested buyers ourselves (see "Other Offers" 3/7/2006). I say we take him up on that. My concern at this point is that Landus walks from the current deal then turns around and offers us less, using the Concentra foreclosure, average share price and who knows what other lame arguments to justify the lower offer. There will then be another vote. They will have a short timeline (the old used car sales "high pressure" approach). DON'T GET SUCKED IN if this happens. Vote NO and hold out for a better offer. I would love to see this happen and see Landus lose the deal.