ERON MORTGAGE INFORMATION WEBSITE
THE ERON LENDER COMMITTEE

ERON LENDERS COMMITTEE
JOINT PROJECT/LENDERS MONTHLY NEWSLETTER

January 4, 1999


IMPORTANT DATES
Next Joint Meeting: TUES FEB 1/00


WEBSITES TO VISIT (www.)
Supreme Court documents#gov.bc.ca
Eron/PWC (various archives etc)#eron-pwl.com
Class Action updates#campchurch.com
General Info update#geocities.com/WallStreet/6380


NEW PHONE ACCESS!!!
878-4484
This has been setup to assist those who do not have access to web sites. Give us tips on what should be included in the 4 minute recorded message.


- Jan 10/00#In court; PWC seeking clarification on various distribution issues
Letter writing campaign-We believe that this campaign has been helpful in maintaining focus on our plight for justice and action is being taken, especially by the RCMP. KEEP WRITING!


**** ISSUES STILL PENDING ****

1. PWC administration costs, ELC awaiting monthly cost breakdown as promised by PWC

2. Revenue Canada letter (election to re-file) was re-edited by the ELC (for simplification) and submitted to PWC for review and approval; no response yet received

3. BCSC finds Eron made misrepresentations to lenders, contravened the Securities Act, Slobogian committed fraud and Biller ought to have known of the fraud; Penalties (barring respondents from securities market and fine and/or paying cost of hearing), decision due Jan/00.

4. Class Action Certification-Awaiting decision from Court of Appeal, expected late Jan or early Feb/00.


**** NEWS/UPDATES ****

1. The concerns voiced by the ELC, reported some time ago, regarding the condo provided to the Slobogian's (by PWC) has, unfortunately, come to pass. We have discovered, through hard work by Anthony Jasich, that the Strata Council has placed a $34,800 lien on the condo. As many may remember, we were assured repeatedly by PWC that such action was not possible and that the ELC's concerns were unfounded. Since the condo is registered under a numbered company, not in the name of the Slobogian's, we suspect that the Lenders will now be on the hook for this additional cost.

2. Project Committees must be resurrected in order to properly review/audit PWC's costs. The ELC is not in a position to review all projects to ensure that costs are reasonable and authorized by the Lenders. If the Lenders hope to minimize costs and maximize returns they must become active in this process.

3. The following projects have had re-filing letters sent out (previous format by PWC)#Commonwealth, Cloverdale, Uclulet, Rusin 3rd & 4th. Projects scheduled for mail-out in January/00#Columbia St., Enterprise Park, Maxim, Goodridge, Quadra, Shuswap, USCAN, PG Wood 2nd, EFS, Everbrite, Gall Taylor, M. Graye 2nd & 3rd, Emerald (Schiel) 3rd -5th, Vocal Point, South Thompson Guest Ranch.


**** DONATIONS NEEDED ****

We continue to ask that Lenders support the ELC's costs. We have been prudent and have been able to keep costs to a minimum but we must pay for such items as photocopying, title searches, court searches etc.

Please send your contribution to:
Eron Lenders Committee c/o Anthony Jasich, "In Trust"
4725 Glenwood Ave, North Vancouver, BC V7R 4G6

FOR THOSE WHO HAVE NOT YET CONTRIBUTED...
THIS IS THE TIME.
FOR THOSE WHO HAVE...
WE THANK YOU FOR YOUR CONTINUED SUPPORT.


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ENCOURAGE OTHERS TO ATTEND THESE MEETINGS OR ACCESS INFORMATION AT THE VARIOUS LOCATIONS NOTED ABOVE.





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