POSITION ON LAWSUIT

Dear Fellow NMAER Members: 

RE:  NMAER's POSITION ON THE STATE OF NEW MEXICO,ex rel.FRANK C.FOY AND

        SUZANNE B.FOY v VANDERBILT CAPITAL ADVISORS, LLC, et al.

 Date: January 23, 2009

In response to questions and concerns from NMAER members, we want to clarify that we are not an active participant in this lawsuit and the following statement was developed to represent NMAER's present position concerning the above lawsuit.

NMAER encourages and supports vigorous actions to fully investigate the allegations made in this lawsuit and to allow the judicial system to bring those allegations to final resolution.

NMAER will enthusiastically support and lobby for legislation directed at enacting meaningful and timely Ethics Reform in the State of New Mexico.

Furthermore, any future information impacting this lawsuit may mandate that NMAER alter its position and plan of action.

NMAER EXECUTIVE BOARD

 Barbara Bonahoom, President