CIRI’s Lake Las Vegas Investments Continue to Receive Accolades

The Ritz-Carlton Lake Las Vegas Resort was one of only three hotels and three restaurants in Nevada to receive the highest rating from the American Automobile Association service organization. Nationally, The Ritz-Carlton was among a total of six restaurants and nine hotels to be added to the list of AAA Five Diamond winners for 2004, bringing the total number of Five Diamond properties to 137.

“The quality of service and facilities is very exacting for this level of achievement,” said Michael Petrone, director, AAA Tourism Information Development. “We are convinced that these properties will exceed guest expectations, otherwise they would not have achieved a Five Diamond rating.”

AAA’s Diamond Ratings is the only lodging and restaurant rating system that covers all of North America, including Mexico, the Caribbean, and Canada. To be considered for AAA rating and approval, restaurants and lodgings must undergo a thorough inspection by one of AAA’s 65 full-time, trained, professional evaluators. Five Diamond establishments go through a more extensive review throughout a series of inspections and final committee review.

The Ritz-Carlton Lake Las Vegas is the first non-Las Vegas Strip property to receive a Five Diamond award in Nevada and was one of a few other Ritz-Carlton hotels nationwide to make the list. AAA evaluates nearly 50,000 properties each year, with less than one half of one percent earning the Five Diamond distinction.

“We have strived since day one to deliver consistently warm, highly personalized service in a community of mega-hotels and casinos,” Ritz-Carlton General Manager Doug Brooks said in a Las Vegas Sun article. “This recognition by AAA inspires us to raise the service bar even higher as we approach our second year of operation.”

The Casino MonteLago made the 2003 Vegas4Visitors Top 10 Awards List for Best Casino in late November. According to the Vegas4Visitors.com traveler information web site, a great casino is a mixture of various gaming options, a comfortable and/or entertaining atmosphere, a friendly staff, a rewarding players’ club, and perhaps most importantly generous payoffs.

According to Vegas4Vistors, the Casino MonteLago is worthy of a Top 10 spot because it is well stocked with games and the staff was tremendously friendly and helpful. Apparently the hot dogs in the casino lounge were also a contributing factor as well as the casino’s MonteLago Village setting.

CIRI is an investor in both the Ritz-Carlton Lake Las Vegas and the Casino MonteLago.

Anchorage RV Park Receives Recognition

The Anchorage RV Park received a Certificate of Appreciation from the Governor’s Committee on Employment and Rehabilitation of People with Disabilities in October. The RV Park was nominated for the Barrier Free Design Award, which recognizes the architect or owner whose facility design and construction demonstrates exceptional access for use by people with disabilities. While the Association of Village Council Presidents’ Housing Authority and Development Corp. was this year’s award recipient, the RV Park was recognized for making opportunities available for people with disabilities. The nomination stated, “After visiting this establishment and taking a tour of their facilities, I was very impressed with the various types of accessibility that have been provided for people with disabilities. These include a lower counter for check-in, fully accessible male and female showers and toilet facilities, accessible campsites, and paved paths.”

Shareholders to Receive 1099s for Tax Purposes

CIRI will mail 2003 IRS Form 1099s to shareholders by Jan. 31, 2004. Some shareholders may receive more than one type of Form 1099. The forms will reflect all payments made to shareholders by CIRI in the calendar year 2003, including quarterly dividends, the special and Christmas distributions, 7(j) payments, prizes, and elders’ distributions.

In 2003, CIRI paid a total of $28 per share (or $2,800 per 100 shares) in quarterly dividends to shareholders. CIRI also paid a special distribution of $50 per share (or $5,000 per 100 shares), and a Christmas distribution in the amount of $3 per share (or $300 per 100 shares). These distributions represent taxable income and will be shown in Box 1a – Ordinary Dividends, on your CIRI Form 1099-DIV. Distributions from the Elders’ Benefit Program and the new irrevocable Elders’ Settlement Trust will also be reported in Box 1a – Ordinary Dividends, on your CIRI Form 1099-DIV. All dividends reported in Box 1a as ordinary dividends are eligible for the reduced tax rates Congress enacted for 2003.

At-large shareholders also received $2.1182 per share (or $211.82 per 100 shares) as a 7(j) resource revenue payment. If you are an at-large shareholder, your 7(j) payment will appear in Box 3 – Other Income, of your CIRI Form 1099-MISC. The resource revenue payment is a sharing of resource revenues among the 12 in-state regional corporations as required by the Alaska Native Claims Settlement Act. Resource revenue payments are not dividends and are not considered investment income. Resource revenue payments for village shareholders are paid directly to their village corporation; therefore, CIRI does not report these amounts as income to the shareholder.

Payments made during 2003 to shareholders for prizes or awards will also be reported by CIRI on a Form 1099-MISC in Box 3 – Other Income. In addition, shareholders who may have received interest payments from CIRI last year will receive a Form 1099-INT with the amount of interest paid appearing in Box 1 – Interest Income.

CIRI cannot provide tax advice, and shareholders are encouraged to consult with a tax advisor regarding their individual circumstances and applicable federal and state tax requirements. If you use a tax preparer, please share this information with him or her. If you have further questions, please contact Shareholder Relations at (907) 274-8638 or toll-free at (800) 764-2474.