BRADLEY FOUNDATION

FINANCIAL STAFF UPDATE

I am pleased to report that I have finally replaced Karen Goldammer and Kathy Huegel with two permanent employees. Cynthia Friauf joined the financial team on January 10, 2000 as the Foundation's controller and Michael Senske commenced employment on May 15, 2000 as her assistant. Attached are copies of their resumes.

Both individuals are C.P.A.'s and have work experience that is complementary to the investment and accounting issues associated with the Bradley Foundation.

The addition of these two fine individuals will return some stability to the financial team and permit us to improve and refine the investment and accounting systems and procedures.