Estate of Howard Gilman, Deceased, Bernard D. Bergreen and Natalie Moody, Executors - Page 5

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          sawmills, a railroad, rail cars, and a financial services                   
          company.  Gilman Building Products produced lumber.                         
               Gilman Building Products had net positive cashflows which              
          averaged more than $42 million per year in 1994-99.  The GIC                
          businesses, including Gilman Paper Co., Gilman Timberlands, and             
          Gilman Financial Services had net negative cashflows of at least            
          $40 million in 1998.  GIC used the net positive cashflow of                 
          Gilman Building Products to pay operating expenses of the GIC               
               GIC also owned the White Oak Plantation (White Oak), an                
          8,000-acre estate that has a conference center and a wildlife               
          conservation center with a scientific breeding program for                  
          endangered animals and birds.  White Oak houses decedent’s                  
          collection of about 6,000 photographs, which, according to one              
          appraisal obtained by Bergreen, was worth $80 million in 1998.              
          Gilman Building Products used about one-third to one-half of its            
          annual net positive cashflow to maintain White Oak and to fund              
          the operations and grants of the foundation.                                
               Davis was the chief operating officer of Gilman Paper Co.              
          and Gilman Building Products until he retired in February 1996.             
          His successor died of cancer in June 1998.  Early in 1998, while            
          Bergreen and Moody were officers of GIC and coexecutors of                  
          decedent’s estate, Bergreen, Moody, and Davis agreed that Davis             
          would be paid $5 million to resume his duties as chief operating            

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