TO ALL MEMBERS:

On SATURDAY, MARCH 23, 2002 at 9:00 A.M., at THE CYPRESS POINTE RESORT CLUBHOUSE, 8651 TREASURE CAY LANE, ORLANDO, FL, the Annual Meeting of the Association will be held for the purpose of electing Directors, and such other business as may lawfully be conducted. There are two (2) Director positions up for election, each position will serve a three-year term.

Fifteen percent (15%) of all Association members (a "quorum") must be present, in person or by Proxy, at the meeting, in order for the business to be conducted, including election of Directors. It is therefore VERY IMPORTANT that you either attend or provide a Proxy.

Please note the following information about BALLOT/PROXIES:

A Proxy is for the purpose of appointing another person to vote for you in the event that you might not be able to attend the meeting. If you appoint a Proxy and later decide you will be able to attend the meeting in person, you may withdraw your Proxy when you register at the meeting.

A Ballot is for voting for the candidate of your choice. You have three choices when voting: 1) You may cast your votes as you see fit based on the information provided, 2) Assign your voting privileges to someone else and let them vote, or 3) You may allow the Secretary of the Association to cast your votes as that person deems appropriate.

Enclosed in the letters sent to every owner 2/20/02 you will find:

1) The agenda for the Annual and Organizational meetings (see below)
2) Candidate Information Sheet
3) Ballot/Proxy for Election of Directors (must be completed and returned ASAP)
4) Envelope for the return of executed Proxy

Again, please be sure to either attend the Annual Meeting or submit a Ballot/Proxy. Thank you for your assistance in conducting the business of your Association.

BY ORDER OF THE BOARD OF DIRECTORS
Michael Aliperti
Secretary

THE CYPRESS POINTE RESORT AT LAKE BUENA VISTA
CONDOMINIUM ASSOCIATION, INC.

2002 ANNUAL MEETING

"AGENDA"

Date: Saturday, March 23, 2002

Time: 9:00 a.m.

Place: Cypress Pointe Resort
8651 Treasure Cay Lane
Orlando, FL 32836

I. CALL TO ORDER

II. NOTICE VERIFICATION & CERTIFICATION OF QUORUM

III. APPROVAL OF MINUTES MARCH 24, 2001

IV. OFFICERS REPORTS

V. ELECTION OF DIRECTORS
A. Appointment of Inspectors of Elections
B. Nominations of Director Candidates
C. Election of Directors

II. UNFINISHED BUSINESS

III. NEW BUSINESS

IV. ADJOURNMENT

ORGANIZATIONAL MEETING

Date: Saturday, March 23, 2002

Time: Immediately following the Annual meeting

Place: Cypress Pointe Resort

I. ROLL CALL

II. VERIFICATION
A. Posted
B. Quorum

I. APPOINTMENT OF OFFICERS

II. NEW BUSINESS

III. ADJOURNMENT