2008-04-21_REVISION - M1999004 (3)

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Continental Materials Corporation - "Operator" Compliance With Certain Financial Criteria As Defined By C.R.S. 1973, 34-32-117(VII)(A)(B)(C)(D) of the Colorado Mined Land Reclamation Act As of and for the Year Ended December 28,2002 a. Operator's net worth was at least ten million dollars and was equal to or greater than two times the amount of this Financial Warranty. Amount of Financial Warranties: Permit # M-1973-007 /Location Name -Daniels Sand Permit # M-1974-131 /Location Name -Hobson Pit Permit # M-1977-209 /Location Name - 4ueens Quarry Permit # M-1977-210 /Location Name -Snyder Quarry Permit # M-1977-211 /Location Name - Pikeview Quany Permit # M-1977-376 /Location Name -Canon City Quarry Permit # M-1977-573 /Location Name -Transit Mix of Pueblo -West Pit Permit # M-1984-008 /Location Name -Transit Mix of Pueblo - Barnhart Pit Permit # M-1986-015 /Location Name -Transit Mix of Pueblo -East Pit Permit # M-1999-004 /Location Name -Table Mountain Quarry Permit # M-1999-035 /Location Name - Holnam Pit Perrrrit # -M 2001-005 / L6c~tian Name - Crlsenti Pit Total Financial Warranties Two times the Financial Warranty Net Worth of Continental Materials Corporation* Compliance b. Operator's tangible fixed assets in the United States were worth at least twenty million dollars. Net Book Value of Tangible Fixed Assets of Continental Materials Corporation* Compliance c. Operators total liabilities-to-net-worth was not more than two to one. Total Liabilities of Continental Materials Corporation* Ratio of Total Liabilities to Net Worth Compliance d. Operators net income, excluding non-recurring items, was positive. Net Income of Continental Materials Corporation* Compliance $1,038,500 9,962 10,000 340,000 995,300 68,500 343,323 69,470 1,002,207 86,742 728,551 1'x5,000 $4,807,555 $9,615,110 $49,989,000 Yes $34,033,000 Yes $32,645,000 0.65 Yes $3,275,000 Yes * See audited financial statements contained in attached 2002 Annual Report