Update from jeff

Dear First Capital S&L Clients,
I have been dragging my feet in getting this update out to you. However, I do have reason for it, in that I don't want to go through the next few months with more unnecessary challenges to overcome.

As Thomas Jefferson is famously quoted, "Delay, is preferable to error". In my case here, I would prefer to be delayed and late in my corresponding to you, than to be wrong in my decision-making process, of which will certainly affect your lives.
I mentioned to all of you in the last update that I wanted to do a survey. This email is for that purpose.

As for the survey, my questions are as listed below. It will take us a while to get through all of your responses, so please be patient as we absorb more than 532 responses! Thank-you.

Please reply to this email address: replies@firstcapitalsl.com, with ONLY the NUMBER of the comment and please INCLUDE YOUR FULL NAME. For example, if you agree with what is said on line #1, then in the SUBJECT LINE of your return email to us, just put "#1" John Doe. If you agree with #2, then just put "#2 John Doe." If #3, then put "#3 John Doe" in the SUBJECT LINE OF YOUR REPLY EMAIL TO US. Simple.

An automated system will read the subject lines only and then file the responses, so no one will be reading the emails. With that said, please do not bother to include comments because they will not be read. We are doing this to speed up the process for everyone's benefit.

Here is the survey: #1 - I would like to have my principal returned to me, along with any and all gain that is due to me.

#2 - I would like to continue with First Capital S&L after January 5th, 2009. However, I know that the rates will be lowered, across the board to ALL clients, to a 2% MONTHLY return.

#3 - I have been Compounding with First Capital S&L and would like to continue Compounding. I understand that the Compounding rate will be set at 2% monthly come January 5th, 2009 and that my old compounding rates will no longer apply. I understand that my Compounding rate will be set at the 2% monthly rate.

Again, please choose ONLY one of the above statements as a #1, #2, or #3 and simply reply to replies@firstcapitalsl.com with the #1, #2, or #3 AND YOUR FULL NAME IN THE SUBJECT LINE.

Thank you again for your patience,
Jeff Lowrance Chairman First Capital S&L