Recent Developments
03-13-2003

      The Conservator has now completed the project of reviewing all policies and contacting insurance companies to confirm coverage. The Conservator is making premium payments on a current basis from funds obtained through a court-approved loan from the Anderton Group, although there is not enough money left from the loan proceeds to pay premiums for the long-term. Therefore, the next significant event expected for this estate is the sale of the policy portfolio. The Conservator has begun to solicit bids and will soon present to the Court the plan for selling the portfolio. Future First investors will receive a notice along with an invitation to appear and be heard on this important issue before it is done. In addition, the Conservator has requested the appointment of an investor’s committee to present the views of investors of this and other matters that the Court is being asked to decide. We will advise you of contact information for the investor’s committee once it is formed.

      We will do our best to keep you informed of any developments that affect your investment as they occur or as we learn of them. Please remember that you can call the toll-free Investor Information Line at 1-866-852-6746 for updates regarding the Conservatorship.



                                                                          David M. Levine, as Conservator