CREDIT INFORMATION

UNITED STATES RESIDENTS

Unless credit has been established with Fasig-Tipton Company, Inc. or its subsidiary at least five days prior to sale, the terms shall be cash at the time of sale. Payment will be accepted in the form of U.S. currency, certified check, cashier's check or traveler's checks.

NON-RESIDENTS

Arrangements for purchases by non-residents must be approved by Fasig-Tipton Company, Inc. or its subsidiary at least 10 days prior to sale. Payment will be accepted in United States Currency, Official Bank Check issued by an accredited United States Bank, payable in United States Currency, or irrevocable sight letter of credit confirmed by Fifth Third Bank.

This irrevocable sight letter of credit must specifically provide that payment is to be made at sight upon presentation by Fasig-Tipton Company, Inc. or its subsidiary to Fifth Third Bank, 38 Fountain Square Plaza, cincinnati, OH 45202 of (1) invoices for each and every horse purchased showing full purchase price, inclusive of sales tax and other charges, as applicable (2) executed copy of Fasig-Tipton standard business form "Acknowledgement of Purchase."

WIRE TRANSFERS THROUGH FEDERAL RESERVE SYSTEM

To facilitate settlement for purchases, U.S. funds only may be wire transferred as follows:

Transfer must be made to Fifth Third Bank, 38 Fountain Square Plaza, Cincinnati, OH 45202

ABA: 042000314

Account: 7380894175

Swift Address: FTBC US 3C

Credit To: Fasig-Tipton Company, Inc. Wire Account

Transfers must indicate they are for the account of Fasig-Tipton and should show purchaser's name and hip numbers for the horses in question.

AGENTS

If purchaser is represented by an agent, such agent must either comply with all provisions herein before set forth as if he were the purchaser, or such agent must submit a letter of authorization signed by purchaser, addressed to Fasig-Tipton Company, Inc. or its subsidiary, which states that the agent is authorized to purchase at a particular sale for account of the purchaser and that such purchaser has complied in advance with all the provisions herein before set forth.