THE WELCH COMPANY
440 Davis Court #1602
San Francisco, CA 94111-2496
415 781 5700



September 29, 1998                                                                   03 96060 61 98092901



Mr. Denis Henmi
Executive Vice President
KWAN HENMI
Architecture, Planning, Inc.
74 New Montgomery Street #300
San Francisco, CA  94105
415 777 4770

Subject:  Moscone Expansion Phase III
                 JV meeting and KH planning

Dear Denis, Bill,
Here is initial work product for JV meeting yesterday, which I will review with Ivan and Steve in the morning. It does not have the structure yet, because I have not had time to develop a subject index, but it will be added later. The notes are Ivan's work product under Kwan Henmi's letterhead, per our understandings today. Do you want to use a Kwan Henmi letterhead for Moscone III project, or should it be the JV letterhead for Gensler/Michael Willis/Kwan Henmi?

There are a few action items from our planning discussions yesterday afternoon, which may require follow up. Notice it is lumped in with general side discussions from the main object of project meeting notes.

Sincerely,

THE WELCH COMPANY



Rod Welch

Copy to: Ivan Romero