Valued Members,

  It is with a heavy heart that I come to you today.  Butterfly Vacations is ceasing operations.  This is due to several factors, but mainly because I simply do not have enough business to generate the capital I need to continue.

  New Horizons will be servicing you, our members.  Mary and Olga will take great care of you.  If Butterfly Vacations owes you an outstanding week on exchange, New Horizons will honor and fulfill the week owed.  Their contact information follows:

                                       New Horizons Exchange

  Email Address: 
Mary@travelnhe.com
                         
Olga@travelnhe.com

         Web Site: 
www.travelnhe.com

  Phone Numbers:  (800) 332-1027     Fax:  (386) 236-1089

  It has been an honor to work with each of you in fulfilling your vacations.  I wish you all health and happiness.

  God Bless
  Sara Stone
  Butterfly Vacations
Exchange Agencies