The GREAT HOUSE REIT

cares, Nurseries, Residential Homes Communities, Church Schools, Church Buildings, Worship Centers, Family Life Centers, Private Schools, Christian Charter Schools, Hospitals, Nursing Homes, Apartments, Condominiums and PUDs. We will engage in financing real estate transactions. As a private Real Estate Investment Trust and a direct lender, we provide innovative credit structures that are designed for specialty real estate borrowers to build or acquire new facilities. We have restricted our primary business activities to making loans to charter schools and related organizations. Our REITs are designed to provide a real estate investment structure similar to the structure mutual funds provide for investment in stocks and are strong income vehicles because we generally pay out at least 90 percent of our taxable income in the form of dividends to shareholders. Our loan portfolio primarily comprises permanent and interim construction loans. As a REIT, the company is not be subject to federal income tax purposes, if it distributes at least 90% of its REIT taxable income to its shareholders.