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Valley of Lakes RICO Class Action against PNCBANK, et al.
ripped edge: exhibits

				Law Offices
			      HOEGEN & MARSH
		 	   23 North River Street
		     WILKES-BARRE, PENNSYLVANIA  18701


				December 2, 1992


JOHN SELLINGER, ESQUIRE
MATTIONI, MATTIONI & MATTIONI
399 MARKET STREET
2ND FLOOR
PRILADELPHIA, PA 19106

Via Fax (215) 923-2227

	RE: C.B.G.  Limited

Dear John:

	Please recall our telephone conversation of November 30, 1992 wherein 
you inquired as to the status of the funding for C.B.G. Limited.

	Presently, C.B.G. has received a letter of intent from Fuji to C.B.G. 
and its affiliates in an amount of $30,000,000.00.

	The letter of intent is contingent upon confirming certain accounting 
information.  Upon confirmation, a formal commitment letter will be issued.  
Fuji is reviewing the accounting and financial information of the Debtor.  It 
is our hope that, in fact, the numbers will be confirmed and a letter of 
commitment will be issued shortly.

Naturally, in the event the Fuji deal or some other funding source is 
located, the Debtor and its affiliates will be in a position to restart its 
development activities and better respond to the complaints of certain 
property owners concerning water pressure in Valley of the Lake.

I trust this correspondence answers your inquiry as to the status of the 
Debtors' efforts in seeking funding.  In the event you have any further 
questions or comments, please do not hesitate to contact me.



				Very truly yours,

				/s/
				Francis J Hoegen


FJH/paa
cc:	Frank M. Cedrone 
	Peter J. Hoegen, Jr., Esq.


Valley of Lakes RICO Class Action against PNCBANK, et al.

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