Ken-Here is a first cut at a spread sheet for the distributions necessary to
return at lease $100,000 to everyone so no partner will have to put up any
new money.  Have you heard from Texaco or BFI? Also, Marathon committed to
the roll over, but not the referendum.  You may need to make a call to
Marathon to see if you can convince them on the referendum.  Conoco also
only committed to their proportionate part, probably about $50,000, for the
referendum and Don Sanders said he would commit $50,000 toward the
referendum.  We, therefore could have only $1 million from the partners on
the referendum if Marathon, Texaco and BFI don't contribute.  We do have
$100,000, however, from Reliant.  Moreover, without Sanders, BFI and
possibly Texaco, we may have only around $30 million to rollover into the
loan.  As soon as we can the final answers from all of the partners we will
be able to finalize the term sheet with the Sports Authority and get the
advance payment on the loan.  I still haven't heard from Goldberg on the
term sheet with the Rockets.

John S. Watson
Vinson & Elkins LLP
1001 Fannin
2300 First City Tower
Houston, TX 77002-6760
Voice: 713/758-2556
Fax: 713/615-5236
Email: jwatson@velaw.com

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> -----Original Message-----
> From: Telle, Michael S.
> Sent: Wednesday, September 06, 2000 11:28 PM
> To: Watson, John
> Subject: SFLP Spreadsheet
> Importance: High
>
> John--
>
> Take a look at the attached spreadsheet which indicates that we would need
> a distribution of $3,350,100 to have enough for the smaller partners to
> contribute $100,000 to the referendum.  It also shows that we would have
> $32,301,000 left in the partnership to loan to the HCHSA.
>
> I don't have a printer at home, so I have not been able to print this out
> to check format, appearance, etc.; however, I may be out of pocket in the
> morning and wanted you to be able to look at this.
>
> Mike
>
>  <<SFLP.xls>>

 - SFLP.xls