THE CLUB AT HOKULIA INC

THE CLUB AT HOKULI'A WAS STARTED AND CONTINUES TO FUNCTION WITH THE PURPOSE OF OWNING AND OPERATING A PRIVATE GOLF AND SOCIAL CLUB FOR THE RECREATION, PLEASURE AND BENEFIT OF ITS MEMBERS, THEIR FAMILIES AND GUESTS. THE CLUB'S GOLF COURSE IS LOCATED ON THE OCEANSIDE OF THE HOKULI'A COMMUNITY DEVELOPMENT CONSISTING OF 1,550 ACRES ON THE KONA COAST ON THE ISLAND OF HAWAII. MEMBERSHIPS TO THE CLUB INCLUDE BOTH EQUITY AND NON EQUITY OPTIONS. CHARTER MEMBERSHIPS ARE ALSO AVAILABLE TO SOME HOKULI'A COMMUNITY OWNERS THROUGH SELECT PROPERTY PURCHASES. THE CLUB ACTIVITIES ARE MAINLY FUNDED THROUGH MEMBERSHIP DUES AND GOLF REVENUE. ALL EMPLOYEE ACTIVITIES PERFORMED ON CLUB PROPERTY IS COMPLETED WITH THE PURPOSE OF SUPPORTING THE OPERATIONS OF THE CLUB.THE CLUB AT HOKULI'A PROVIDES AN OPPORTUNITY FOR PERSONAL CONTACT AMONG MEMBERS THROUGH RECREATIONAL ACTIVITIES AT THE GOLF COURSE.