Saturday, June 3rd turned out to be a sunny, gorgeous day, but shareholders still made time to attend the corporation's 27th Annual Meeting in Soldotna, Alaska.   Following a business report by President and CEO Carl Marrs, shareholders elected five directors to the CIRI Board of Directors. Elected to three-year terms at this year's meeting were John N. Colberg, of Seldovia; William D. English, of Anchorage; William C. Prosser, of Anchorage; Harold F. Rudolph, of Anchorage; and Clare Swan, of Kenai.   The Board of Directors also elected officers of the board at its meeting. Outgoing chairman William C. Prosser chose not to seek reelection, and Robert N. Woodhead, formerly secretary, was elected chairman. Charles G. Anderson was reelected vice-chairman; Sharon L. Issak was named secretary; William D. English was reelected treasurer; A. Debbie Fullenwider

was reelected assistant secretary; and, Michael R. Boling was reelected assistant treasurer. Other directors who continue to serve three-year terms are B. Agnes Brown, Gosta E. Dagg, Ronald G. Perry, Robert W. Rude, and Terry L. Simpson. CIRI President and CEO Carl Marrs reports to shareholders at 27th annual meeting.

CIRI has signed a letter of intent to invest in the newest development at Lake Las Vegas Resort. CIRI will join a team of stellar partners, including The Ritz-Carlton Company, L.L.C., interests of Sid and Lee Bass of Ft. Worth, Texas, and Transcontinental Properties, Inc., the developers of Lake Las Vegas Resort. The partners together will develop and construct a 350-room Ritz-Carlton resort, part of a Mediterranean-themed village named the Village at MonteLago.   Lake Las Vegas Resort, located 17 miles from the famed Las Vegas Strip, is a residential resort and golf community surrounding Nevada's largest privately owned lake. The Village at MonteLago will encompass 50 acres on the northwest end of the 320-acre lake. Within the Village will be the Ritz-Carlton hotel, a casino, luxury condominiums and commercial space for retail boutiques, waterside continued on page 6

A rendering of the Village at MonteLago, Lake Las Vegas Resort's newest development.