May 2003

Wind & Rain, Inc.

Mr. Philip Peters
CEO, Zagada Markets
Caribbean Commercial Building
145 Grand Avenue, Coral Gables FL 33133

Dear Philip,

We trust you and your Zagada team are doing well. We just wanted to take the time to thank you for your continued participation and contribution to our development of West Coconut Grove. As you know we are gaining success in re-branding the area as the ISLAND DISTRICT™. We will continue to work with you to typify the Caribbean / Island principles which you so effectively champion, through our won island inspired development.

We appreciate the music you wrote and performed at our “Affordable Housing Done Right” Ribbon Cutting Ceremony last year. Everyone who attended, including staff from the Mayor’s office to Mark Ogletree and his family, were especially touched by your insights and musical performance. Certainly the combination of your creative talents as well as your strategic business acumen is admirable. As you grow your business we trust many companies will want to take advantage of your expertise.

For the coming year we look forward to building on our successes and staying the course of providing both housing and community solutions to emerging South Florida neighborhoods. Certainly, our project’s success at Harvard Business School’s AASU – Entrepreneurial Ventures Competition has helped validate our innovative model and strengthen our market visibility. We look forward to working with you further in the future as the opportunity arises.

Regards,
Andy Parish ,
President, Wind & Rain, Inc. ,
www.windandrain.com