February 05 - Randall Zacuto
Mr. Randall Zacuto, Registered Principal, Royal Alliance Associates,Inc. a Member of
the AIG Advisory Group.

Many individuals are attracted to the benefits of investing in real estate, including
current income and the potential for capital gain. Direct investment in real estate can
require large amounts of capital, as well as the time and expertise to properly manage
real estate properties. One alternative to direct real estate investment is the Real
Estate Investment Trust (REIT). Mr. Zacuto discussed what a REIT is, the types of
REIT's and income tax and investment issues. How REIT can allow small investors to
share in the risks and rewards of real estate investing.

Attendees: 144