Note: This is a timberland sale Prospectus.

Bid Date: 2 p.m. Friday, November 10th, 2006 .

Bid Location: Offices of Ray Francis.

Bid Offer: See “Bid Offer Form” on page 3 of this Prospectus

Property Overview:

The 60-acre (approximately) parcel on FS Road 121 is a loblolly pine plantation about eight years old. This parcel has about a mile of road frontage on FS 121, and borders the Sabine National Forest along its north boundary. This 60 Acre Parcel is located in the Hezekiah Cartwright Survey, Abstract 83, Sabine County, Texas.

The 130-acre (approximately) parcel on Hwy 87 consists of loblolly pine plantations about 12 years old and mixed native forest. It has about 3,000 feet of road frontage on Hwy 87. This parcel borders Colorow Creek on most of its western boundary, and a small section of Patroon Bayou on its north line and also borders the Sabine National Forest along its eastern boundary. This 130 Acre Parcel is in the John McAdams Jr. Survey, Abstract 159, Sabine County, Texas.

Inventory Method: No timber volumes available. Bidder should inspect timber to their own satisfaction.

Maps: Click Here

Minerals: Seller reserves all mineral rights.

Bid Receipt: Bids received by mail or fax.

Payment & Closing: 5% down required within one-week of acceptance. Closing within 30 days of bid acceptance. Taxes prorated and revenue stamps divided equally. Title insurance equally divided. All other closing costs divided equally.

Reservation: Seller reserves the right to reject any and/or all bids.

Notes: Acreage for sale is approximate.
Bidder may bid on one or both tracts.

If you have any questions or would like additional information, please call Ray Francis at (214) 748-6093.

Raymond E. Francis (Broker/Owner)
Patroon Partners, LTD
PO Box 214966
Dallas, TX 75221-4966

Voice: 214-748-6093
Fax: 214-748-5984