MINUTES OF INVESTMENT CLUB MEETING

Sunday, April 16, 2000

MEMBERS PRESENT:Gretchen DuRant, Toni Pinckney, Greg Joseph, Zandra Coles, Nancy Pierre, Renee Patterson, Lee Hollie, Gwen Goolsby, Preston Younger, Kim Coles, Cheryl Coles, Cheryl Green, Deborah Hauges & Donald Small

MEMBERS ABSENT:Karen Richardson

CONSULTANTS:Gayle Dixon & Elsie Jones (SOKOMA INVESTORS)

GUESTS:Alex Tillery, Barbara Sills & Sherwood Sills

MEETING COMMENCED: 5:00 p.m.

TOPICS DISCUSSED:

1. Introduction of Gayle Dixon, Founder of SOKOMA Investors. Gayle gave pertinent pointers for starting and running an investment club. Question and Answer session followed.
2. Three major components for a successful investment club are:
   1) Attendance 2) Homework / Research 3) Committment (at least 5 years)
3. NAIC (National Assoc. Investors Club) - guideline of which Wealth Investment Group will be following.
4. Joining NAIC should be mandatory. It has all tools needed to run a club.
5. NAIC’s New York City Chapter meets once a month at FIT (Fashion Institute of Technology).
6. Partnership Agreement - must be signed by all club members before filing to obtain EIN number and conduct banking transactions.
7. Election of Officers - It was decided that the core group (Toni, Greg, Zandra & Gretchen) would assume official positions for at least 6 months.
8. REMINDER - pick up Beardstown Ladies Common-Sense Investment Guide (excellent model).
9. Need IRS Employers Identification Number to open a bank account.
10. Initiation Fee - covers club start-up expenses (lst month’s dues). Depending upon additional expenses, monies will be collected as needed.
11. Monthly Dues - $50.00 per month.
12. AMERITRADE - (Discount brokerage service) Promotion currently going on to open up an account for a little as $500.00.

Meeting Adjourned: Approximately 7:30 p.m.