NNG Noteholders' Report--3rd Qtr 2000

The disclosure proposed for the 3rd Quarter Noteholders' report is the exact
same wording as was used in the 2nd Qtr Noteholders' Report and is consistent
with the language and level of detail insisted upon by AA and used in the
1999 NNG Audited Financial Statements (Brown Cover Report). Although AA has
no say in what we include in the Noteholders Reports, I believe our Offering
Circulars require that we use GAAP for interim financial reports, even though
they are unaudited.