COLCO NEWS ALERT

The following opinion is based on information received and deemed reliable
by James Balderson:

McBride Construction is "finished,", leaving several buildings partially restored.

Preferred is being promoted as the company to finish the unfinished McBride contracts.

Preferred appears to be low-balling contract bids to gain business.

Preferred has "swallowed" several other restoration companies.

Preferred was the "preferred" company used by New Home Warranty prior to NHW's declaration of insolvency.

Contracts with Preferred appear to escalate in price as work proceeds.

Some Preferred work has had to be redone.

The principals of Preferred stand to make millions via the stock market promotion of Preferred.  Check with Alberta Securities Commission and the British Columbia Securities Commission and CDNX.

Preferred was in default with their line of credit - a special arrangement was made to keep them going.

Preferred is at risk of expanding beyond its capabilities and going bankrupt.

Preferred has had difficulty in producing audited financial statements.

If Preferred goes bankrupt after the stock promotion, the principals and "friends" in Alberta and B.C. will be happy and the owners of leaky rotten condos will be sad.

Recommendation: Proceed with caution.

James Balderson
Coalition of Leaky Condo Owners
www.myleakycondo.com