Elizabeth Estrada 14 January 2008

Kyle Walton, Vice President Strategic Development Solutions 11150 W. Olympic Blvd. Los Angeles, CA 90064 Dear Mr. Walton, I am writing to you to inform you of my joint activities with Watts Up America, LLC in support of their HUD housing project to address the 2001 HUD Energy Action Plan and develop green-collar jobs targeted at low income residents. Watts Up America is in need of properties to site a PV panel manufacturing facility, installation warehouse and operations, renewable energy technical training facilities and a HUD low-income residential pilot community. Towards this endeavor I am offering Watts Up America 111 acres that I own in Taft, California (Parcel #220-201-03-2) at a below-market cost of $600,000. In addition, I am offering a second 76-acre property, also in Taft (Parcel #220-110-13-4) at a below-market price of $800,000. As an owner of various properties I commit to purchasing PV solar systems and installation services from Watts Up America for 400 of housing units, where each unit would require approximately 2.5 KW at a price of no less than $5,500/KW. Under the Watts Up Energy Model the debt service payments on these systems will be below that what my tenants pay and thus more profitable for me and my tenants. The final commitment will be made pending complete energy and financial audits that will assess each unit’s energy requirements, installation requirements, ability to support a PV system, and positive return on investment. Finally, I am offering my skills as a real estate developer to augment Watt Up America’s expertise to expand its target market from low-income housing developments to a broader housing market. My strategic relationship with Watts Up America will extend to them my personal experience and my network of housing developers to meet the experience requirements of various financing institutions. My partnership with Watts U America, LLC grows, in part, out of my deeply held concern for the future of the environment. The WUA plan addresses key environmental issues through clean renewable energy and will provide sustainable jobs and development for Section 8 residents and the Taft community. I am pleased to support WUA’s proposal for New Markets Tax Credits and hope that we can work together to bring this important and , I believe, groundbreaking venture to fruition. Sincerely, Elizabeth Estrada