Jeff's Update

Dear Investors,

I deeply apologize for the delay in getting my update to you. The past few months have taken a toll on me as I honestly tried to do way too much with my businesses. I started the USA TOMORROW newspaper to create a vehicle for change and I didn't realize the response to the project to be as enormous as it has become. On the advice of a very smart friend of mine I have decided to set the paper aside, in part, for the next few months and take care of my financial responsibilities to each and every one of you. I have lost money over the past few months on some investments, not unlike almost every major bank in the world. I can't touch my main investment fund until January 5, 2009. At that time I plan to close the fund and return investors their money in full. Also, I am going to be restructuring the interest rates that we have been paying out to clients. Please watch for an update about that subject to come out soon. I have struggled recently, however. I am not tucking my tail, but I am communicating with all of you simply because I'm a man of my word and each of you will be paid in full. I don't need to spend pages here informing you of my various problems, both physically and time wise; I just need to inform you that I am working religiously on your behalf and you will be taken care of. I will be updating you by email at least every 4 weeks until I access our fund. I sincerely wish that I could talk with everyone but that is impossible for me - I need to work. I thank you for your patience.

Sincerely,

Jeff Lowrance
First Capital S&L

Waiting

From the comments and e-mails it sounds like most of us are in favor of waiting. I have heard word of double compounded interest in Sept. Is that what everyone sees on their account or just those not compounding? Is this just another carrot dangling out there that we may never get or is he trying to make it up to those expecting wire transfers? I hope it's the latter. The carrot is what Charles Ponzi did. That seems to be the big question on everyone's mind. Ponzi? The good news is that something happened that would have needed Jeff's approval. Does this mean he is trying to work on FCSL again?

We have sent our first attempt at contacting Jeff as a blog and will keep you posted. Communication is the first rule of customer service and what everyone is waiting for at this point. All we want is for him to keep us updated. Jeff, you need to stop leaving us all in the dark. We are all out here with nothing to go on but speculation as a group. What else can we do but discuss at what point enough is enough?

We will stay as patient and optimistic as we can, but that will run out at some point.

First Capital Savings and Loan Client

Everyone needs to participate in this discussion

When is it time to notify the authorities?
Whom do we notify? (New Zealand, FBI, SEC, Panama, California DA, San Diego DA)
Will this tie up all assets for years to come?

Please especially comment on the first question. We need to all agree that whatever we do, we do together. No one jumping the gun.