Enjoy the rest of your day (and keep up the great work)!

Top Financial Services Firm Mark,

Our Recovery Manager recently provided me with an update and review of Agency performance for the first three quarters of fiscal 2005. In that review, he reported recovery rates for all of our Consumer agencies. Based on the results presented, I felt compelled to let you and your team know how very impressed I am with the outstanding performance we are seeing from Apelles. I believe the numbers speak to the level of commitment and focus demonstrated by your folks.

Keep up the great work. I look forward to continuing our relationship and exploring any additional opportunities to expand our partnership.

Thank You!

Fortune 100 Company Mark, as discussed, the purpose of this email is to confirm an increase in placements starting May 25, 2005. The file will include the normal secondary placements and an additional file of primary placements.

We have decided to initiate this not only because the excellent results we have seen in the last 8 months, but also because it has been a pleasure working with your staff. The whole team, including the CEO, Operations Management, IT Management and you, are accessible and very easy to work with. Whenever we need to change a process or strategy, the transition is smooth and efficient. Please share our sentiments with the staff. Thank you!!

Major Financial Institution Apelles Team,

I just wanted to send you a quick note letting you know how much I appreciate the professionalism of you Mike, Carl, and the remainder of your team at Apelles. I can honestly say that the ease in which our placements have been handled surpasses any other agencies that I have dealt with. Any additional reporting that we have needed has been provided without any questions or delay. It is nice to work with an organization that not only understands this, but also makes every effort to understand the intricacies of our business, so that Apelles can help maximize Westgate’s bottom line. As you promised, Apelles adapts it’s strategies around the business needs of Westgate.

As we all know, this business is a "what have you done for me lately" business. Your performance speaks for itself. Apelles, working on our secondary placements, is well outperforming our primary collection agency. Not only are you doing an outstanding job of collecting the bad debt, but, more importantly, you are reselling our product to the owners; thus getting a large number to remain involved with Westgate Resorts. Your ability to help with owner retention has been exceptional. Your overall performance has forced me to re-evaluate our third party placements.

Thank you to you and your team for all of the hard work.

Leading Provider of Time-Share Properties Worldwide