Skip,

Thank you for the note; I hope the summer is going well.

We have opened the core account and can now generate the investment account mandate – we should have that to you tomorrow.  This mandate is a very simply outline the defines the asset allocation bands across different asset classes.  From our proposal and from the last board meeting we have agreed to manage the Capital Fund ($500,000) in a balanced portfolio (the middle range between conservative and growth).  The remaining cash ($200,000 currently) will be placed in a short duration bond fund.

The method of management in the Capital Fund is dynamic meaning that, as conditions change in various markets, the portfolio is adjusted to reflect JP Morgan’s views.  When we sit down to review the portfolio with the Finance Committee, we will review the various shifts that have been made.

One other remaining item now that accounts are open is that we continue to recommend a Line of Credit against the portfolio.  This line will be used as needed to smooth the Foundation’s cash flows and can also be used for the vehicle renovation.

I will send to the team direct wiring instructions so that funds can be transferred to JP Morgan.

The entire JP Morgan team looks forward to working with the Foundation and we appreciate the confidence that you have shown in our team.

Best regards,

Chris

Christopher W. Mason

Vice President

Banker

J.P. Morgan | 800 Connecticut Ave. NW | Washington D.C. 20006

Office 202.533.2110 | Fax 202.533.2124 | christopher.w.mason@jpmorgan.com

Chris and Dan,

Greetings. I hope you are both having a relaxing, cool and profitable summer.  Now that everything is in order it is time to move the money over.

As it stands, I am looking at sending $700K over to you as soon as we decide how best to allocate it.  That leaves ZERO a cushion in the B of A account of $245K. As the year progresses and we move through the bulk of the races I anticipate sending at least $100K more over to he JP Morgan account.  My question to you is how would you recommend these monies be allocated among the accounts?  I am ready to make the transfer as soon as we can.

I await your wise counsel.

Best,

--Skip

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Skip Lockwood
President and CEO
ZERO -- The Project to End Prostate Cancer
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