Freres Lumber Co., Inc. - Page 38

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            Covenants Not To Compete                                                                       
            D.C. Walker                    900,000                                                         
            Mary Walker                      - 0 -                                                         
            Donna Lee                       30,000                                                         
            U.S. Forest Service Timber                                                                     
            Sale contracts               1,500,000                                                         
            Total class III assets     4,749,608                                                           
                  We allocate the consideration received in the Walker sale                                
            under section 1060 as follows:                                                                 
            1.    Consideration received for purchase of assets    $4,650,000                              
            2.    Allocation to class I and II                        - 0 -                                
            3.    Allocation to class III                                                                  
                  a.     Amount available to allocate to class III    4,650,000                            
                  b.     Class III assets                             4,749,608                            
            4.    Allocation to class IV                                                                   
                  a.     Amount available to allocate to class IV                                          
                         is goodwill and going-concern value            - 0 -                              
                  To reflect concessions by the parties and the foregoing,                                 

            Decision will be                                                                               
            entered under Rule 155.                                                                        

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