----- Original Message -----

From: Gil Vick

To: H. C. "Butch" Blanchard ; Bill Bernstein ; Mike Casalena ; Kyle Brown ; Gaines Grantham ; Bill Dupere ; Cameron Coburn ; Mike Butts ; Bill Purcell ; Mike Cooper ; Warren Ratley

Cc: Eric A Brandt ; Debra Walters ; Greg & Val Georgevitch

Sent: Saturday, November 23, 2002 10:39 AM

Subject: Re: STOCK PURCHASE

My 4 extra shares were purchased for $250 each from Mrs. Fox on 9/17/00. Harry Layman made me aware that Mrs. Fox wanted to sell some shares and acted as the go between. I had NO knowledge of any offers by WSC to Mrs. Fox. The board at that time did not share much information with me. The stockholder list was guarded like a state secret. But that must have been all my fault?

I now understand Butch (WSC?) was offering Mrs. Fox $100 a share! If this is so, it demonstrates how previous boards handled shareholders interests. But that must have been all my fault?

Early this year your WSC board of directors passed a motion authorizing a buyback program and budgeted $4000 for this effort. The stockholder list was distributed to the board. My assumption was that each board member would contact nonmember stockholders they might know and try to purchase stock for the buyback program.

We found out in October that Cameron had indeed been busy contacting nonmember stockholders and had purchased 28 shares on his own account. I think this was an act of bad faith with his boards stated policy. This gives Cameron the ability to effectively name the WSC board of directors. This gives Cameron effective control of WSC. But that must have been all my fault?

It appears to me that Cameron's actions have the full support of Butch Blanchard. My sense is that the other 4 board members are not too happy with this self dealing stock grab but have not yet found an effective means of expressing their positions. You know what I think. I have not yet taken this issue to the full membership.

This is not a vindictive effort.

I simply want our board of directors to follow stated board policy and act in the best interests of WSC members and stockholders. I want the acts of board members when it concerns WSC to be publicly aired and if it stinks I want it to be smelled. I am at fault here :-)

And I would encourage those of you who have an opinion on this to state it and help form a consensus. If this is not a concern, say so. If it is a concern, speak out. So far I'm getting good support.

...Gil

----- Original Message -----

Sent: Friday, November 22, 2002 5:54 PM

Subject: RE: STOCK PURCHASE

Gil Vick's shares are illegal; The board made an offer and had an acceptance prior to the interference by Gil.

He must do the same as we might require Cameron. We should let this go for the good of the Club.

I do not want a part of this vindictive effort. We do not have the finds to do the below.

It is all Gil's fault.

In accordance with Article IX Section 4 of WSC Bylaws any stock holder wishing to sell WSC shares SHALL give right of first refusal of a bona fide offer to purchase to Waccamaw Sailing Club, Inc.

This did not happen with the 28 shares that were recently purchased by Cameron, therefore the shares in question MUST not be transfered without the shares being offered for purchase to WSC. The board must, therefore, ask that Cameron sell all 28 shares to WSC. If Cameron refuses to sell the shares to the club the transfer agent MUST not transfer the shares. The WSC board of directors does not have the right to make a bylaw change ( this would require 1/3 the stockholders present to meet the quorum requirement ). Therefore, any vote at the last board meeting to transfer the shares to Cameron would have been illegal.