1. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 G OLF A ND C OUNTRY C LUB C HANTILLY N ATIONAL Restoration and Renovation Plan

2. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 The Team General Contractor – Vantage Construction Club Project Manager – Pete Wrenn Club Representatives – Paul Roberts, Mike Hudenburg and Tony Mobasser Architect – TBD – The M Group Structural Engineer – Jody Fox Interior Design – Karen Heye Project Legal Counsel – Mark Graham

3. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 The Overall Plan Repair the roof to close in the building Pull a permit to commence restoration Develop Architectural plans for the renovations Design and obtain a permit for the deck Obtain County Approvals for Renovations Open the lower level in sections All the above items will happen concurrently

4. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 3 Distinct Phases Phase 1 – Roof Repair Phase 2 – Restore the lower level and re-open for use. Phase 3 – Renovate the second floor

5. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 Phase 1 Repair the roof -The Contract has been signed for this phase -Schedule – 3 to 5 weeks -Potential issues:- – Structural problems We do not believe this will be an issue – County Permitting We do not believe this will be an issue either

6. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 Phase 2 Restore the lower level and open for use -The Contract will be signed for this phase next week -Schedule – 4 to 5 months, to run concurrently with phase 1. Projected completion July 1, 2009 -Potential issues – County Permitting We have done due diligence on this and believe we should have no issues - Health Department We hope to close in the lower level and obtain health department approval to serve food while the restorations are being completed upstairs.

7. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 Phase 3 Renovations -The following renovations will be completed depending on the budget 1)Build a new Bar above the current Grill Room. 2) Build a lounge in what is now the 19 th Hole 3) Construct a 900 sq. ft. deck above the rear patio 4) Construct 2 new bathrooms at the top of the main stairs. 5) Construct a private dining room in what is now the card room

8. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 Phase 3 - continued 6) Construct a full size pass through from the Ballroom to the Grill Room to expand our wedding capacity 7) Build a vestibule at the entrance to the Grill Room 8) Expand the Kitchen beyond the existing bar in the grill room 9) Install an elevator to the second floor 10) Relocate the Board room to the storage area above the Pro Shop

9. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 Phase 3 - continued 11) Renovate the Pro Shop 12) Construct an indoor driving range/training facility above the Pro Shop -The architectural plans for these renovations will begin immediately -Permits will be pulled upon completion of the architectural plans -Construction will commence upon issuance of permits

10. C HANTILLY N ATIONAL G OLF A ND C OUNTRY C LUB Annual Meeting February 19, 2009 Phase 3 - continued -Schedule – 6 to 7 Months Projected completion date September 1, 2009 -Potential Issues -County Permitting -Code/ADA issues -Budget We will eliminate items if necessary to stay within budget