Lifetime Receiver H. Thomas Moran II, Receiver of LifeTime Capital, Inc.


It has come to our attention that the letter that accompanied the premium invoices, and was posted on the website, specifies your premium payment should be received in my office by July 31, 2005. Please disregard this date. Unfortunately, the Premium billing did not go out as scheduled due to circumstances beyond our control. The due date on the invoices is August 15, 2005. If your premium payment is not received by August 15, 2005, as a result of the late mailing of this invoice, you will not be penalized; however payments should be made as promptly as possible.

If you have not received your premium invoice by August 1st, please feel free to contact the Receiver'­s office at 405-607-2722. Future invoices will be mailed earlier in the month.

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Message from the Receiver regarding Premium Invoicing

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Investors: We had a telephone conference with the Court on Friday July 15. The main topic was the lack of maturities in the portfolio. As I indicated in a previous message, without maturities there is no source of funds to pay premiums to keep the policies from lapsing. Continued borrowing of funds is not a long term solution as the interest rates on this type of financing are exorbitant.

It is probable that the Receiver will contact you soon to reimplement your contributing to premium payments as was done before he was appointed. Details are being worked on regarding those payments having a priority status at the time of a distribution and the like.

Decisions will have to be made whether to maintain the portfolio or attempt to sell it. There are many, many factors to consider. I will be seeking permission of the Court to provide you with a substantial amount of information and conduct a survey of your preference regarding the future of the portfolio. I hope that will occur in the next 45 to 60 days.

Contact me if you have questions or concerns.

Andrew Storar, Examiner


Svete Criminal Minutes

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Sentencing Media Release

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Premiums for July 2005

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