INTRACORPAN INTRAWEST REAL ESTATE COMPAI\:Y

August 8, 1995

TO WHOM IT MAY CONCERN:Suite 300

2505 Second Avenue Sarah A. Wenig was employed by Intrawest as Marketing Manager from 1988 to 1991. Inthis position, she was responsible for the marketing of major residential/mixed-use projectsunder development as well as a corporate advertising program.

Seattle, Washington

98121-1473

Tel: (206) 625-9226

Fax: (206) 625-9133Sarah's skills were utilized to analyze the market potential of projects under consideration; toassist in the development of product to appeal to our stated target markets; and to assist inpositioning product in the marketplace. Her contributions in all aspects of preparing ourproducts for the market were invaluable. She consistently exhibited a talent for presenting ourproduct to the public in the way which evoked the desired response. Sarah's success incommunicating the desired image, to me reflects her understanding of the strategiccommunications required within and outside our company to meet our goals -- her sense of the"big picture'?"

Since leaving Intrawest, Sarah has returned to school and completecLa post graduate degree incommunication management. Ibelieve this, coupled with the communication skills acquired inthe work place, prepares her for a responsible management role.

1am most pleased to recommend Sarah and, as appropriate, I'll be glad to offer any additionalobservations you may need.

Sincerely,

;P';:~~Robert J. Holmes

NOTE: FORMERLY THE CEO OF INTRA WEST MR, "

HOLMES IS NOW THE CEO OF HARBOR DEVELOPMENTAND CAN BE REACHED AT 206-623-0916

RJHllo

Julien J. Studley, Inc.777 South Figueroa Street42nd FloorLos Angeles, CA 90017213 236-3800

August 8, 1995 STUDLEYTo whom it may concern:

It is a pleasure to support the employment application of Ms. Sarah A. Wenig. I workedwith Sarah from mid-1989 to late-1990 at Intrawest Co., a real estate developmentcompany located in Seattle, Washington. I was Vide President of the o-ffice and Sarahworked as the Manager of Marketing. She was responsible for the marketing and leasingof two significant apartment development projects. We also worked together on severalacquisitions and project feasibility studies. Her extensive background in marketing,combined with her recent Masters Degree in Communications Management, give Sarah agood foundation to make a meaningful contribution to the right organization.

Her transaction and marketing management experience has dem nstrated her skill to leada team of professionals. She worked well with the architects, contractors and legalexperts that made up the project teams. In addition, she maintained a very good rapportwith the media and' was particularly successful with public relations activities. Shefunctioned very well in the fast-paced, goal-oriented environment in which we worked.

Sarah is a very pleasant individual and is dedicated to expanding her level of knowledgeand expertise. She and I have talked several times about the benefits of her solideducation and career experience, and I know she will work hard to excel. Her sense ofhumor, strong interpersonal skills and high level of confidence in her own abilities shouldallow her to achieve great success.

Sarah's real estate career focused on mixed use projects in urban settings. I believe theskills she acquired should transfer easily to her goal of improvement in the school system.Her background in marketing and communications will benefit any organization.

I strongly recommend Sarah for employment and am sure she will be a strong addition toyour operation.

Q:e~J(Paul W. StockwelCorporate Managing Director

F:IFL_DISKSISTOCKWELIWENIG.DOC

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