On October 10, 2002, Fog Cutter Capital Group Inc. acquired the leasehold interests in 109 freestanding retail stores located throughout the United States. The purchase was made through the Company’s wholly-owned subsidiary, Fog Cap Retail Investors LLC. The leases cover approximately 500,000 square feet of retail space located in 25 states. Retail locations include: Alabama (2), Arkansas, (3), Arizona (6), California (21), Colorado (3), Florida (5), Georgia (6), Hawaii (1), Illinois (1), Indiana (2), Louisiana (6), Maryland (4), Michigan (3), Minnesota (1), Missouri (7), North Carolina (1), New Mexico (2), Nevada (1), Ohio (1), Oklahoma (6), Oregon (3), Tennessee (3), Texas (18), Virginia (1), Washington (2). The stores are free-standing, prime retail locations ranging from 4,500-7,000 square feet. Leaseholds are, in general, 25-30 years, and cover a broad tenant mix including convenience stores, shoe stores, video rental outlets, auto parts dealers, carpet retailers and other small businesses.