Corporate Summary

Carltas Company, a California Limited Partnership

The general partner of Carltas Company is Carltas Management, a California Corporation. The companies are privately held. The President of Carltas Management is Christopher C. Calkins.

Carltas Development Company, a California Corporation

Since 1987, the Carltas Development Company has planned or developed over 1,300 acres of prime California coastal land and over 850,000 square feet of commercial and industrial buildings. Recent development projects under construction or completed by the Company in the 853-acre Encinitas Ranch include the 650,000-square-foot Encinitas Ranch Town Center retail center, the Encinitas Ranch 18-hole championship golf course and driving range and approvals for up to 1,100 residential units. in the 450-acre Carlsbad Ranch, recently completed projects include the 79-acre Carlsbad Ranch R&D/Office Park, which is home to such companies as the Gemological Institute of America, the National Association of Music Merchants, Denso International, Natural Alternatives and the Grand Pacific Resort and Time-share. The Carlsbad Ranch site features also features the Carlsbad Company Stores, a 300,000-square-foot specialty retail shopping center, and the 180-acre LEGOLAND California theme park and resort hotel site. Previously completed projects by the Company include the 27-acre Car Country Carlsbad expansion, the 154,000-square-foot, 13-acre San Diego International Floral Trade Center in Carlsbad and the 22-acre Carlsbad Costco commercial site, together with several other projects. Current projects, under various stages of planning and development, include an 18-hole golf course and driving range in Carlsbad Ranch and a multi-family residential project in Encinitas Ranch. Carltas Development Company is a privately held real estate development company. John C. White is President of Carltas Development Company.

CB Ranch Enterprises, a California Corporation

CB Ranch Enterprises is the owner of The Flower Fields at Carlsbad Ranch™, a privately held visitor attraction operation in a floral farming environment. James R. Bornemann is the Executive Vice President and Fred Clarke is the General Manager.

The Flower Fields - Carlsbad, CA