No Dues Increase for 2008-2009 Dues Year

FI Club Board: Due to the fact that the Club has been run on Budget for 2008 and combined with the Cost Containment Initiatives that have lowered operating overhead, the Club Board is happy to announce that there will be no dues increase for the 2008-2009 dues year.

Finance Committee :The Finance Committee after careful review of the Club Finances is very comfortable recommending that the dues not be increased for the 2008-2009 dues year.

Scott Barter, CFO: The Board has approved the recommendation from the Finance Committee and the CFO. The dues amount to be billed on the July statements will remain the same as the current year dues:

Equity Member Dues $20,330 plus applicable sales tax

Annual Member Dues $23,000 plus applicable sales tax

The cost savings realized in 2008 will more than offset the high cost of inflation that we have been experiencing. The Club is projected to meet the budgeted profit of $2.175 million for 2008 and we anticipate continued profitability in 2009 without the need to increase the dues amount. The profits are sufficient to cover the cash shortfall from delinquent members who are not paying their dues. The profits also allow us to continue the pay down of debt incurred from the deficit in 2006.

Scott Barter

Chief Financial Officer