Grand Court Lifestyles, Inc.
Case Number: 00-32578(NLW)
Reporting Period: May 2000
MONTHLY OPERATING REPORT
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------------------
Form Document Explanation
REQUIRED DOCUMENTS No Attached Attached
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
------------------------------------------------------------------------------------------------------------------------------------
Schedule of Cash Receipts & Disbursements MOR-1 X
------------------------------------------------------------------------------------------------------------------------------------
Bank Reconciliation MOR-1(CONT) X
------------------------------------------------------------------------------------------------------------------------------------
Copies of bank statements X
------------------------------------------------------------------------------------------------------------------------------------
Cash disbursement journals(attached to bank reconciliations) X
------------------------------------------------------------------------------------------------------------------------------------
Statement of Operations MOR-2 X
------------------------------------------------------------------------------------------------------------------------------------
Balance Sheet MOR-3 X
------------------------------------------------------------------------------------------------------------------------------------
Status of Post Petition Taxes MOR-4
------------------------------------------------------------------------------------------------------------------------------------
Copies of IRS Form 6123 or payment receipt X
------------------------------------------------------------------------------------------------------------------------------------
Copies of tax returns filed during reporting period N/A
------------------------------------------------------------------------------------------------------------------------------------
Summary of Unpaid Post Petition Debts MOR-4
------------------------------------------------------------------------------------------------------------------------------------
Listing of aged accounts payable X
------------------------------------------------------------------------------------------------------------------------------------
Accounts Receivable Reconciliation & Aging MOR-5 N/A
------------------------------------------------------------------------------------------------------------------------------------
Debtor Questionairre MOR-5 X
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
I declare under penalty of perjury (28 U.S.C. Section 1746) that this report and
the attached document are true and correct to the best of my knowledge and
belief.
---------------------------------------- --------------
Signature of Debtor Date
/s/ Catherine V. Merlino CFO 6/16/00
---------------------------------------- --------------
Signature of Authorized Individual Date
Catherine V. Merlino CFO 6/16/00
---------------------------------------- --------------
Printed Name of Authorized Individual Date
<PAGE>
S:\SHARED\BANKRUPT\SCHEDULE\CRCD.WK4
Case Number: 00-32578(NLW)
Form MOR-1
Grand Court Lifestyles, Inc.
Schedule of Cash Receipts and Disbursements
May 1, 2000 - May 31, 2000
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------
Bank Accounts
------------------------------------------------------------- Current Cumulative
(1) Payroll Payroll Real Estate Rental Period filing to date
Operating Boca Fort Lee Tax Agency Actual Actual
------------------------------------------------------------------------------------------
Cash 5/1/00 2,547,092 14,981 9,818 128,576 11,112 2,711,579 2,998,777
==========================================================================================
<S> <C> <C> <C> <C> <C> <C> <C>
Cash Receipts:
Transfer to/from DIP accounts 0 0
Transfers (from DIP accounts) 744,197 205,000 182,100 1,131,297 1,604,297
Management fees 55,088 55,088 113,801
Bookkeeping fees 63,750 63,750 127,500
General Partner fees 219,500 219,500 303,250
Sterling National Bank (2) 0 (5,981)
Vendor refunds & expense reimbursements 64,234 20 64,254 143,632
Notes, loans and other receivables 12,392 12,392 697,658
Interest income 0 66,040
Construction funding reimbursements 0 73,376
Return of earnest money 0 23,739
Interest income-Bankruptcy 9,143 445 370 9,957 11,179
------------------------------------------------------------------------------------------
Total Receipts 1,168,304 205,000 182,100 445 390 1,556,238 3,158,491
Cash Disbursements:
Net Payroll and related taxes and expenses (200,077) (179,245) (379,322) (1,043,507)
Insurance (34,524) (34,524) (84,517)
Administrative (213,581) (213,581) (354,925)
Other (see attached schedule) (17,500) (2,064) (19,564) (562,064)
Transfers (to DIP accounts) (1,130,555) (742) (1,131,297) (1,604,297)
Restructuring Costs (13,683) (13,683) (28,362)
US Trustee Quarterly Fees 0 (3,750)
------------------------------------------------------------------------------------------
Total Cash Disbursements (1,409,843) (200,077) (179,245) 0 (2,806) (1,791,971) (3,681,422)
------------------------------------------------------------------------------------------
Net Cash Flow (241,539) 4,923 2,855 445 (2,416) (235,733) (522,931)
------------------------------------------------------------------------------------------
Cash May 31, 2000 2,305,553 19,904 12,673 129,021 8,696 2,475,846 2,475,846
==========================================================================================
</TABLE>
Calculating Trustee Quarterly Fees from Current Month Actual
Total
Disbursements
-------------
Total Disbursements 1,791,971
Less Transfers to Debtor in Possession accounts (1,131,297)
----------
Plus Estate Disbursements made by outside sources 660,674
==========
(1) Represents the post-petition money market account and DDA account. The
post-petition cash is kept in an investment account and transferred to the DDA
account as needed.
(2) Amount represents the book balances of a Sterling National Bank setoff;
debtor has been unable to ascertain the details of the setoff.
<PAGE>
S:\SHARED\BANKRUPT\SCHEDULE\CRCD.WK4
Case Number:00-32578(NLW)
Schedule of Cash Receipts and Cash Disbursements
Supplementary Schedule
May 1, 2000 - May 31, 2000
Disbursements-Other
Net Capstone Expenses 2,064.00(1)
Property Funding 17,500.00(2)
---------
19,564.00
=========
(1) Included in the pre-petition cash balance are the accounts for four
properties the debtor operated pursuant to long-term leases("Capstone"). The
disbursement amount represents the final payroll paid to employees at those
properties. The debtor no longer operates these properties as of March 31, 2000
(2) Amount represents total advanced by debtor to a wholly-owned entity.
<PAGE>
CHASE MANHATTAN BANK
MONEY MARKET
AC 312-8380029-65
MAY 31, 2000
Beginning Balance @05/01/00 2,551,058.39
Add: Cash Receipts 595,209.33
Less: Cash Disbursements (894,700.00)
------------
Book Balance @05/31/00 2,251,567.72
Less: Deposits in Transit-Postdate Chang @05/31/00 (200.00)
Add: Outstanding Checks 0.00
------------
Bank Balance @05/31/00 2,251,367.72
============
<PAGE>
RECONCILIATION
MAY 31, 2000 Cash Receipts
<TABLE>
<CAPTION>
Bank
GCL Statement
------------------------------------
<S> <C> <C> <C> <C>
Post Dates 5/1 200.00 5/2 200.00
GP Fees-Boca 5/2 75,000.00 5/1 75,000.00
Cornerstone 5/2 24,523.82 5/3 24,523.82
Post Dates 5/2 2,000.00 5/3 2,000.00
Cash Flow Surplus Distributions 5/4 5,551.03 5/5 5,551.03
Post Dates 5/5 100.00 5/8 100.00
Sterling-Tenant Security 5/8 9,911.76 5/9 9,911.76
Sterling-Tenant Security 5/8 8,391.10 5/9 8,391.10
Sterling-Tenant Security 5/8 1,479.21 5/9 1,479.21
Deposit made by Boca 5/8 206,151.02 5/5 206,151.02
State of NY - Refund 5/8 1,754.18 5/9 1,754.18
Seward - Receivable/Albuquerque Receivable 5/9 4,730.60 5/10 4,730.60
Conventional Cash Flow 5/11 24,766.64 5/12 24,766.64
Conventional Cash Flow 5/12 18,309.65 5/15 18,309.65
Post Dates 5/15 3,142.50 5/16 3,142.50
Supervisory fees 5/19 63,750.00 5/19 63,750.00
Bookkeeping fees 5/19 68,750.00 5/19 68,750.00
Shiffman Rembly 5/19 1,061.95 5/19 1,061.95
Management Fees 5/19 55,088.26 5/19 55,088.26
Reimbursement of Fed Ex from Boca 5/19 6,336.33 5/19 6,336.33
Refund GFD-The Pines 5/22 2,017.50 5/23 2,017.50
Homestead 5/25 7,516.64 5/26 7,516.64
Postdate-Chang 5/31 200.00 D-I-T 0.00
Interest Income 6/1 4,477.14 5/31 4,477.14
---------- ----------
595,209.33 595,009.33
========== ==========
Deposit in Transit (200.00)
----------
Bank Statement Cash Receipts 595,009.33
==========
</TABLE>
<PAGE>
GRAND COURT LIFESTYLES, INC.
CHASE MONEY MARKET ACCT.
CASH DISBURSEMENTS
MAY 31, 2000
<TABLE>
<CAPTION>
Vendor Check
Check No Name Reference Date Amount
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Debit Grand Court Transfer to Chase Business Checking Acct. 05/02100 102,700.00
Debit Grand Court Transfer to Chase Business Checking Acct. 05/04/00 40,000.00
Debit Grand Court Transfer to Chase Business Checking Acct. 05/05/00 30,000.00
Debit Grand Court Transfer to Chase Business Checking Acct. 05/10/00 175,000.00
Debit Grand Court Transfer to Chase Business Checking Acct. 05/10/00 150,000.00
Debit Grand Court Transfer to Chase Business Checking Acct. 05/18/00 140,000.00
Debit Grand Court Transfer to Chase Business Checking Acct. 05/23/00 257,000.00
----------
894,700.00
==========
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
[LOGO] CHASE May 1 - May 31, 2000
Page 4 of 5
312-00312-E000-00312-H -113-9-02-W X- N- Primary Account Number: 312-8380029-[ILLEGIBLE]
Bankruptcy MMA 00-32578 DIP-GRAND [ILLEGIBLE]
312-8380029-65 [ILLEGIBLE]
<CAPTION>
====================================================================================================================================
Summary Number Amount
<S> <C> <C> <C>
Opening Balance 2,550,358.95
......................................................................
Deposits and Credits 26 595,708.77
......................................................................
Withdrawals and Debits 7 894,700.00
......................................................................
Checks Paid 0 0.00
----------------------------------------------------------------------
Ending Balance 2,251,367.72
--------------------------------------------------------------------------------------------------------------
Average Balance 2,436,329.01 Annual Percentage Yield Earned 2.24%
--------------------------------------------------------------------------------------------------------------
Interest Earned for 31 Day(s) 4,477.14 Interest Credited in 2000 10,365
Interest Rate(s): 05/01 to 05/29 at 2.20%
05/30 to 05/31 at 2.30%
<CAPTION>
====================================================================================================================================
Deposits and Date Description Amount
Credits ...............................................................................................................
<C> <C> <C>
5/01 Deposit 75,000
05/01 Deposit 699
05/02 Deposit 200
05/03 Deposit 24,523
05/03 Deposit 2,000
05/05 Deposit 206,151
05/05 Deposit 5,296
` 05/05 Deposit 254
05/08 Deposit 100
05/09 Deposit 9,911
05/09 Deposit 8,391
05/09 Deposit 1,754
05/09 Deposit 1,479
05/10 Deposit 4,730
05/12 Deposit 24,766
05/15 Deposit 18,309
05/16 Deposit 2,942
05/16 Deposit 200
05/19 Deposit 68750
05/19 Deposit 68750
05/19 Deposit 55,088
05/19 Deposit 6,336
05/19 Deposit 1,061
05/23 Deposit 2,017
05/26 Deposit 7,516
05/31 Interest Credit 4,477
---------------------------------------------------------------------------------------------------------------
Total 595,708
====================================================================================================================================
Withdrawals Date Description Amount
and Debits ...............................................................................................................
05/02 Bank Miscellaneous Debit 102,700
05/04 Pre-Authorized Debit 40,000
05/05 Pre-Authorized Debit 30,000
05/10 Bank Miscellaneous Debit 175,000
05/10 Pre-Authorized Debit 150,000
05/18 Bank Miscellaneous Debit 140,000
05/23 Bank Miscellaneous Debit 257,000
---------------------------------------------------------------------------------------------------------------
Total 894,700
====================================================================================================================================
</TABLE>
<PAGE>
------------------------------
[LOGO] CHASE
------------------------------
<TABLE>
<CAPTION>
May 1 - May 31, 2000
Page 5 of 5
312-00312-EOOO-00312- H -113-9-02-W X - N - Primary Account Number: 312-8380029-66
Bankruptcy MMA 00-32578 DIP-GRAND CC
312-8380029-65 (continued) LIFESTYLE
=========================================================================================================
Daily Date Balance Date Balance Date Balance
Balances
<S> <C> <C> <C> <C> <C>
............................ ........................ ........................
05/01 2,626,058.39 05/09 2,713,420.51 05/19 2,494,356.44
05/02 2,523,558.39 05/10 2,393,151.11 05/23 2,239,373.94
05/03 2,550,082.21 05/12 2,417,917.75 05/26 2,246,890.58
05/04 2,510,082.21 05/15 2,436,227.40 05/31 2,251,367.72
05/05 2,691,784.26 05/16 2,439,369.90
05/08 2,691,884.26 05/18 2,299,369.90
=========================================================================================================
</TABLE>
Analysis Fee Your analysis fee has been waived this month.
Explanation
<PAGE>
CHASE MANHATTAN BANK
BUSINESS CHECKING ACCT.
A/C 312-8380029-66
MAY 31, 2000
Beginning Balance @05/01/00 700.21
Add: Cash Receipts 895,442.04
Less: Cash Disbursements 842,157.59
-------------
Book Balance @05/31/00 53,984.66
Less: Deposits and transit 0.00
Add: Outstanding Checks 157,231.28
-------------
Bank Balance @05/31/00 211.21594
=============
<PAGE>
GRAND COURT LIFESTYLES, INC.
CHASE CHECKING ACCOUNT
CASH RECEIPTS
MAY 31, 2000
Deposit Deposit
Date Description Amount
------------------------------------------------------------------------
05/02/00 Transfer from Chase money market acct. 102,700.00
05/04/00 Transfer from Chase money market acct. 40,000.00
05/04/00 Transfer from Chase rental agency acct. 742.04
05/05/00 Transfer from Chase money market acct. 30,000.00
05/10/00 Transfer from Chase money market acct. 150,000.00
05/10/00 Transfer from Chase money market acct. 175,000.00
05/18/00 Transfer from Chase money market acct. 140,000.00
05/23/00 Transfer from Chase money market acct. 257,000.00
-------------
895,442.04
=============
<PAGE>
Date: Jun 13 00 11:37am GRAND COURT LIFESTYES, INC. DIP
Check Reconciliation C/D - MAY 2000
Print Bank [ CHASE] to [ CHASE]
Check type: All
Check status(es) selected: Cleared, Cleared with error, Outstanding, Posting
error, Reversed, Void, Alignment, Leading
Check number [ 1] to [999999999999]
Check date [May 01 00] to [May 31 00] CHASE BUSINESS
CHECKING
Include description.
Bank: CHASE CHASE CHECKING
<TABLE>
<CAPTION>
Vendor Status
Check Number Number Vendor Name Reference Check Date Amount Ty Status Change
------------ ------ ------------------------------ --------- ---------- ------ -- ------ ------
<S> <C> <C> <C> <C> <C> <C> <C>
144 101PO AUTOMATIC DATA PROCESSING SYSTEM CHECK May 01 00 77.96 CLEARED PENDING
145 102PO ALL PURPOSE LIMOUSINE, INC. SYSTEM CHECK May 01 00 138.80 CLEARED PENDING
146 122PO AT&T WIRELESS SERVICES SYSTEM CHECK May 01 00 92.81 CLEARED PENDING
148 315PO DANKA SYSTEM CHECK May 01 00 1,026.88 CLEARED PENDING
149 325PO DE LAGE LANDEN SYSTEM CHECK May 01 00 169.65 CLEARED PENDING
150 336PO SIDNEY DWORKIN SYSTEM CHECK May 01 00 346.00 CLEARED PENDING
151 347PO EXECUTIVE PARK, LLC SYSTEM CHECK May 01 00 19,419.88 CLEARED PENDING
152 600PO FEDERAL EXPRESS CORP SYSTEM CHECK May 01 00 640.13 CLEARED PENDING
153 850PO IMPERIAL PREMIUM FINANCE INC SYSTEM CHECK May 01 00 12,060.15 CLEARED PENDING
154 852PO IMPERIAL PREMIUM FINANCE, INC. SYSTEM CHECK May 01 00 215.24 CLEARED PENDING
157 1400PO NATIONAL CORPORATE RESEARCH SYSTEM CHECK May 01 00 4,240.32 CLEARED PENDING
158 1570PO PR NEWSWIRE SYSTEM CHECK May 01 00 650.00 CLEARED PENDING
159 1600PO POLAND SPRING SYSTEM CHECK May 01 00 331.00 CLEARED PENDING
160 1602PO PERKAROMA SYSTEM CHECK May 01 00 147.71 CLEARED PENDING
161 1609PO PBCC SYSTEM CHECK May 01 00 3,124.44 CLEARED PENDING
162 1614PO PBCC SYSTEM CHECK May 01 00 1,070.07 CLEARED PENDING
163 1616PO PBCC SYSTEM CHECK May 01 00 637.68 CLEARED PENDING
164 1623PO PREMIUM FINANCE SPECIALISTS SYSTEM CHECK May 01 00 1,206.93 CLEARED PENDING
165 1783PO SELF STORAGE PLUS SYSTEM CHECK May 01 00 948.00 CLEARED PENDING
166 1791PO STATE OF NJ - DEPT LABOR SYSTEM CHECK May 01 00 217.06 CLEARED PENDING
167 71OFPO GE CAPITAL SYSTEM CHECK May 01 00 1,176.26 CLEARED PENDING
168 716FP0 GE CAPITAL SYSTEM CHECK May 01 00 3,275.64 CLEARED PENDING
169 8121PO STAPLES SYSTEM CHECK May 01 00 231.81 CLEARED PENDING
170 123PO AT&T UNIPLAN SYSTEM CHECK May 02 00 6,234.22 CLEARED PENDING
171 129P0 AT&T SYSTEM CHECK May 02 00 8.29 CLEARED PENDING
172 828 GARY HOFFSON PETTY CASH May 03 00 1,309.50 MC CLEARED PENDING
173 244PO CATON TOWERS OWNERS CORP. SYSTEM CHECK May 03 00 38,823.66 CLEARED PENDING
174 247PO CORNERSTONE MANAGEMENT SYSTEM CHECK May 03 00 3,065.11 CLEARED PENDING
175 605PO FIRST UNION NATIONAL BANK SYSTEM CHECK May 03 00 5,000.00 CLEARED PENDING
176 PAUL SMITH EXPENSES May 04 00 742.04 MC CLEARED PENDING
177 715PO GRAND COURT LIFESTYLES, INC. MAY RESERVE May 04 00 19,620.00 MC CLEARED PENDING
178 1210PO JOHN LUCIANI SYSTEM CHECK May 04 00 92.50 CLEARED PENDING
179 1211PO JOHN W. LUCIANI, III SYSTEM CHECK May 04 00 1,651.92 CLEARED PENDING
180 2004PO ALLEN THOMPSON SYSTEM CHECK May 04 00 491.66 CLEARED PENDING
181 247PO CORNERSTONE MANAGEMENT TENANT SEC May 08 00 19,782.07 MC CLEARED PENDING
183 1228PO KEITH MARLOWE EXP 5/3 May 09 00 75.00 MC CLEARED PENDING
184 THE GRAND COURT PENSACOLA ESCROW May 09 00 1,590.00 MC OUTSTANDING
185 THE GRAND COURT CARROLLTON R.E. TAX May 09 00 4,492.02 MC OUTSTANDING
186 THE GRAND COURT DAYTON W/C ESCROW May 09 00 700.00 MC OUTSTANDING
187 THE GRAND COURT COLUMBUS W/C ESCROW May 09 00 650.00 MC OUTSTANDING
188 THE GRAND COURT CORPUS R.E. TAX DEP May 09 00 16,885.00 MC OUTSTANDING
189 THE GRAND COURT FINDLAY W/C ESCROW May 09 00 400.00 MC OUTSTANDING
190 WILLIAM JOSEPH CONVERY JR. LAND LEASE May 09 00 1,200.00 MC OUTSTANDING
191 THE GRAND COURT SPRINGFIELD W/C ESCROW May 09 00 400.00 MC OUTSTANDING
</TABLE>
<PAGE>
Date: Jun 13 00 11:37am GRAND COURT LIFESTYES, INC. DIP
Check Reconciliation
Bank: CHASE CHASE CHECKING
<TABLE>
<CAPTION>
Vendor Status
Check Number Number Vendor Name Reference Check Date Amount Ty Status Change
------------ ------ ------------------------------ --------- ---------- ------ -- ------ ------
<S> <C> <C> <C> <C> <C> <C> <C>
192 THE GRAND COURT I KANSAS CITY ESCROW/PP TX May 09 00 6,460.00 MC OUTSTANDING
193 THE GRAND COURT I KANSAS CITY ESCROW May 09 00 24,150.00 MC OUTSTANDING
194 THE GRAND COURT N. MIAMI ESCROW/TX May 09 00 13,325.00 MC OUTSTANDING
195 THE GRAND COURT MORRISTOWN RE TAX/PP TX May 09 00 5,636.00 MC OUTSTANDING
196 THE GRAND COURT ROUND ROCK ESCROW/PP TX May 09 00 11,575.00 MC OUTSTANDING
197 PARADISE COVE HOMEOWNERS ASSOC MAINT FEE May 09 00 968.00 MC OUTSTANDING
198 THE GRAND COURT TEMPLE ESCROW/PP TX May 09 00 11,370.00 MC OUTSTANDING
199 JACK SIEGEL CPA PA 99 PTNSHP May 09 00 2,500.30 MC OUTSTANDING
200 THE GRAND COURT TYLER RE TAX ESC May 09 00 18,100.00 MC OUTSTANDING
201 505PO DEPARTMENT OF INSURANCE AND TAX May 09 00 1,061.95 MC CLEARED PENDING
202 1901PO TRAVEL UNLIMITED D PAUKER May 10 00 249.00 MC CLEARED PENDING
203 1228 KEITH MARLOWE REIMB EXPS May 10 00 26.01 MC CLEARED PENDING
204 1228PO KEITH MARLOWE REIMB EXPS May 10 00 74.78 MC CLEARED PENDING
205 215PO MAIL BOXES ECT. PRINTING May 11 00 142.37 MC CLEARED PENDING
206 713BPO GRAND COURT AMARILLO RENTAL FUND P/R May 11 00 6,000.00 MC CLEARED PENDING
207 1792PO STATE OF MICHIGAN FILING FEE May 15 00 15.00 MC OUTSTANDING
208 40PO ADP, INC. SYSTEM CHECK May 18 00 281.01 CLEARED PENDING
209 51PO AT&T SYSTEM CHECK May 18 00 224.55 CLEARED PENDING
210 53PO AT&T SYSTEM CHECK May 18 00 1,139.68 OUTSTANDING
211 55PO AT&T SYSTEM CHECK May 18 00 17.45 CLEARED PENDING
212 57PO AT&T SYSTEM CHECK May 18 00 13.23 CLEARED PENDING
213 59PO AT&T SYSTEM CHECK May 18 00 4,923.40 CLEARED PENDING
214 61PO AT&T SYSTEM CHECK May 18 00 12.06 CLEARED PENDING
215 150PO BELLSOUTH SYSTEM CHECK May 18 00 671.77 CLEARED PENDING
216 160PO BELLSOUTH SYSTEM CHECK May 18 00 2,337.51 CLEARED PENDING
217 293BP COMPUTER & NETWORK SERVICES SYSTEM CHECK May 18 00 265.00 CLEARED PENDING
218 45BPO AT&T WIRELESS SERVICES SYSTEM CHECK May 18 00 728.70 CLEARED PENDING
219 47BP0 AT&T WIRELESS SERVICES SYSTEM CHECK May 18 00 313.03 CLEARED PENDING
220 48BPO AT&T WIRELESS SERVICES SYSTEM CHECK May 18 00 258.71 CLEARED PENDING
225 520PO FEDEx SYSTEM CHECK May 18 00 15,751.32 CLEARED PENDING
226 60BPO ACP OFFICE I, LLC SYSTEM CHECK May 18 00 41,236.13 CLEARED PENDING
227 690BP EDWARD J. GLATZ SYSTEM CHECK May 18 00 1,760.85 CLEARED PENDING
228 1029BP KATSOFT, INC. SYSTEM CHECK May 18 00 300.00 CLEARED PENDING
229 1212BP LUCENT TECHNOLOGIES-GEM SYSTEM CHECK May 18 00 169.60 CLEARED PENDING
231 1214BP LUCENT TECHNOLOGIES-GEM SYSTEM CHECK May 18 00 1,090.66 CLEARED PENDING
232 1214PO LUCENT TECHNOLOGIES SYSTEM CHECK May 18 00 1,283.92 CLEARED PENDING
233 1309BP NATIONWIDE COMPUTER SYSTEM CHECK May 18 00 286.20 OUTSTANDING
234 1450PO OFFICE TECHNOLOGY SUPPLIES SYSTEM CHECK May 18 00 3,696.88 CLEARED PENDING
235 1623BP PBCC SYSTEM CHECK May 18 00 819.81 CLEARED PENDING
236 1786BP SYSTEMS SPECIALISTS, INC. SYSTEM CHECK May 18 00 6,896.09 CLEARED PENDING
237 1850PO SUN SENTINEL SYSTEM CHECK May 18 00 2,238.30 CLEARED PENDING
238 1907PO STANDARD COFFEE SERVICE SYSTEM CHECK May 18 00 524.47 CLEARED PENDING
239 1995BP LAD OFFICE EQUIPMENT SYSTEM CHECK May 18 00 425.59 CLEARED PENDING
240 2500BP ZEPHRYHILLS SYSTEM CHECK May 18 00 164.25 CLEARED PENDING
241 2585BP PITNEYWORKS SYSTEM CHECK May 18 00 1,065.47 CLEARED PENDING
242 312BP0 CT CORPORATION SYSTEMS SYSTEM CHECK May 18 00 464.50 CLEARED PENDING
243 621BPO FIRST CALL CORPORATION SYSTEM CHECK May 18 00 650.00 CLEARED PENDING
244 8429PO IRON MOUNTAIN SYSTEM CHECK May 18 00 280.50 OUTSTANDING
245 843BPO IKON OFFICE SOLUTIONS SYSTEM CHECK May 18 00 497.06 CLEARED PENDING
246 895BPO IOS CAPITAL SYSTEM CHECK May 18 00 1,174.74 OUTSTANDING
247 990BPO INTERIM PERSONNEL SYSTEM CHECK May 18 00 708.75 CLEARED PENDING
</TABLE>
<PAGE>
Date: Jun 13 00 11:37am GRAND COURT LIFESTYES, INC. DIP
Check Reconciliation
Bank: CHASE CHASE CHECKING
<TABLE>
<CAPTION>
Vendor Status
Check Number Number Vendor Name Reference Check Date Amount Ty Status Change
------------ ------ ------------------------------ --------- ---------- --------- -- ---------- ------
<S> <C> <C> <C> <C> <C> <C> <C>
248 995BPO JA-MAR LASER INDUSTRIES SYSTEM CHECK May 18 00 504.56 CLEARED PENDING
290 41P0 ADP/ICS SYSTEM CHECK May 18 00 307.29 CLEARED PENDING
291 75PO ALABAMA DEPT. OF REVENUE SYSTEM CHECK May 18 00 110.00 OUTSTANDING
292 85PO ARIZONA DEPT. OF REVENUE SYSTEM CHECK May 18 00 50.00 OUTSTANDING
293 86PO ARIZONA DEPT. REVENUE SYSTEM CHECK May 18 00 50.00 OUTSTANDING
294 101PO AUTOMATIC DATA PROCESSING SYSTEM CHECK May 18 00 180.08 CLEARED PENDING
295 112PO AT&T LONG DISTANCE SYSTEM CHECK May 18 00 227.29 CLEARED PENDING
296 1216P LUCENT TECHNOLOGIES - GEM SYSTEM CHECK May 18 00 274.46 CLEARED PENDING
297 129PO AT&T SYSTEM CHECK May 18 00 21.23 CLEARED PENDING
298 131PO AT&T WIRELESS SYSTEM CHECK May 18 00 966.54 OUTSTANDING
299 199P0 BELL ATLANTIC-NJ SYSTEM CHECK May 18 00 333.14 CLEARED PENDING
300 200PO BELL ATLANTIC-NJ SYSTEM CHECK May 18 00 1,177.25 CLEARED PENDING
301 240PO BUSINESS WIRE SYSTEM CHECK May 18 00 20.74 CLEARED PENDING
302 301PO J. CLORES & SON, INC. SYSTEM CHECK May 18 00 40.10 CLEARED PENDING
303 315P0 DANKA SYSTEM CHECK May 18 00 710.73 CLEARED PENDING
304 600PO FEDERAL EXPRESS CORP. SYSTEM CHECK May 18 00 593.60 CLEARED PENDING
305 609PO FRANCHISE TAX BOARD SYSTEM CHECK May 18 00 800.00 OUTSTANDING
306 616PO FRANCHISE TAX BOARD SYSTEM CHECK May 18 00 800.00 OUTSTANDING
307 698PO GEORGIA INCOME TAX DIV. SYSTEM CHECK May 18 00 50.00 OUTSTANDING
308 1030PO KENTUCKY REVENUE CABINET SYSTEM CHECK May 18 00 300.00 OUTSTANDING
309 1216PO LUCENT TECHNOLOGIES SYSTEM CHECK May 18 00 727.46 CLEARED PENDING
310 1400PO NATIONAL CORPORATE RESEARCH SYSTEM CHECK May 18 00 388.00 CLEARED PENDING
311 1406AP BELL ATLANTIC SYSTEM CHECK May 18 00 42.58 CLEARED PENDING
312 1406BP BELL ATLANTIC SYSTEM CHECK May 18 00 83.27 CLEARED PENDING
313 1406PO BELL ATLANTIC SYSTEM CHECK May 18 00 87.26 CLEARED PENDING
314 1410PO BELL ATLANTIC SYSTEM CHECK May 18 00 8.04 CLEARED PENDING
315 1602PO PERKAROMA SYSTEM CHECK May 18 00 193.10 CLEARED PENDING
316 1609PO PBCC SYSTEM CHECK May 18 00 1,588.35 CLEARED PENDING
317 1614P0 PBCC SYSTEM CHECK May 18 00 533.71 CLEARED PENDING
318 1704PO THE RECORD SYSTEM CHECK May 18 00 55.08 CLEARED PENDING
319 1784PO STATE OF NJ DIV OF TAXATION SYSTEM CHECK May 18 00 260.00 OUTSTANDING
320 1788PO STATE COMPTROLLER SYSTEM CHECK May 18 00 8,000.00 OUTSTANDING
321 1815PO STRASBURGER & PRICE LLP SYSTEM CHECK May 18 00 1.58 CLEARED PENDING
322 1877PO TENNESSEE DEPT OF REVENUE SYSTEM CHECK May 18 00 10.00 OUTSTANDING
323 1878PO TENNESSEE DEPT OF REVENUE SYSTEM CHECK May 18 00 10.00 OUTSTANDING
324 1879PO TENNESSEE DEPT OF REVENUE SYSTEM CHECK May 18 00 10.00 OUTSTANDING
325 1880PO TENNESSEE DEPT OF REVENUE SYSTEM CHECK May 18 00 10.00 OUTSTANDING
326 1902PO EXPERIAN SYSTEM CHECK May 18 00 75.00 CLEARED PENDING
327 2040PO UTAH STATE TAX COMMISSION SYSTEM CHECK May 18 00 100.00 OUTSTANDING
328 2057PO EXARIO NETWORKS SYSTEM CHECK May 18 00 299.95 CLEARED PENDING
329 710FPO GE CAPITAL SYSTEM CHECK May 18 00 736.83 CLEARED PENDING
330 80P0 AMERICAN EXPRESS TRAVEL May 18 00 11,381.32 MC CLEARED PENDING
331 65BPO AT&T WIRELESS SERVICES D LUCIANI May 18 00 31.84 MC CLEARED PENDING
332 1213BP LUCENT TECHNOLOGIES 3/19-4/16 May 18 00 318.62 MC CLEARED PENDING
333 1786BP SYSTEMS SPECIALISTS. INC. 6/1 MAINT May 18 00 983.00 MC CLEARED PENDING
334 1002PO PAUL JAWIN EXPENSES May 22 00 1,048.97 MC CLEARED PENDING
335 111PO AT&T WIRELESS CYMES May 22 00 101.89 MC OUTSTANDING
336 325PO DE LAGE LANDEN 24271875 May 22 00 169.65 MC CLEARED PENDING
337 1608PO PITNEY BOWES, INC. ADV CHARGES May 22 00 30.00 MC CLEARED PENDING
343 1786BP SYSTEMS SPECIALISTS, INC. MODIFICATION May 24 00 1,300.00 MC CLEARED PENDING
344 828PO GARY HOFFSON PETTY CASH May 24 00 1,282.19 MC CLEARED PENDING
</TABLE>
<PAGE>
Date: Jun 13 00 11:37am GRAND COURT LIFESTYES, INC. DIP
Check Reconciliation
Bank: CHASE CHASE CHECKING
<TABLE>
<CAPTION>
Vendor Status
Check Number Number Vendor Name Reference Check Date Amount Ty Status Change
------------ ------ ------------------------------ --------- ---------- ---------- -- ---------- ------
<S> <C> <C> <C> <C> <C> <C> <C>
345 1228PO KEITH MARLOWE EXPENSES May 24 00 42.74 MC CLEARED PENDING
346 1624PO POORMAN-DOUGLAS CORP. MAILING May 24 00 1,969.08 MC CLEARED PENDING
347 336P0 SIDNEY DWORKIN BOARD MTGS May 24 00 3,000.00 MC OUTSTANDING
348 803PO LESLIE GOODMAN BOARD MTGS May 24 00 3,000.00 MC CLEARED PENDING
349 713BPO GRAND COURT AMARILLO RENTAL FUND P/R May 25 00 11,500.00 MC CLEARED PENDING
350 1002PO PAUL JAWIN REIMB EXP May 30 00 616.47 MC OUTSTANDING
351 1228PO KEITH MARLOWE REIMB PHONE May 30 00 98.47 MC OUTSTANDING
352 721PO GRAND COURT LIFESTYLES PAYROLL RE-OPEN A/C May 30 00 100.00 MC OUTSTANDING
353 123P0 AT&T UNIPLAN 05/10/00 May 31 00 3,748.52 MC OUTSTANDING
354 215PO MAIL BOXES ETC. MAILING May 31 00 2,536.29 MC OUTSTANDING
5100 190B ATLANTIC BANK - GCL BOCA P/R WIRE P/R May 10 00 90,000.00 MC CLEARED PENDING
5O100 WIRE - GC FORT LEE P/R CORP WIRE 5/1 PR May 01 00 25,000.O0 MC CLEARED PENDING
51000 720PO GRAND COURT P/R -FT LEE CORP WIRE P/R May 10 00 85,000.00 MC CLEARED PENDING
52300 190B ATLANTIC BANK - CL, BOCA P/R WIRE 5/26 PR May 23 00 115,000.00 MC CLEARED PENDING
5230001 613PO FLEET BANK - FT LEE P/R WIRE 5/26 PR May 23 00 72,000.00 MC CLEARED PENDING
5230002 1624P0 POORMAN-DOUGLAS CORP. -WIRE WIRE May 23 00 8,935.68 MC CLEARED PENDING
</TABLE>
---- Summary ----
162 check(s) issued 839,013.63
118 check(s) cleared 683,988.31
----------
44 check(s) outstanding 155,025.32
==========
ADD: CK# 338 Date 6/1 - CLEARED
@ 5/30/00 948.- [ILLEGIBLE]
----------
TOT. C/D MAY 2000 -- 839,961.63
==========
CK# 339 Tim R Lewis DBA
Boca Storage 524.70
CK# 340 Deerfield Storage 249.10
CK# 341 Premium Financing
Specialists 1,206.92
CK# 342 Imperial Premium
Financing 215.24
----------
Total May CD 842,157.59
==========
<PAGE>
Date: Jun 13 00 11:07am GRAND COURT LIFESTYES, INC. DIP
Check Reconciliation CHASE BUSINESS CHECK
Print Bank [ CHASE] to [ CHASE]
Check type: All
Check status(es) selected: Outstanding
Check number [ 1] to [999999999999]
Check date [ ] to [May 31 00] OUTSTANDING CHECK
Include description.
Bank: CHASE CHASE CHECKING
<TABLE>
<CAPTION>
Vendor Status
Check Number Number Vendor Name Reference Check Date Amount Ty Status Change
------------ ------ ------------------------------ --------- ---------- --------- -- ---------- ------
<S> <C> <C> <C> <C> <C> <C> <C>
98 1782PO SECRETARY OF STATE FILING Apr 13 00 10.00 MC OUTSTANDING
184 THE GRAND COURT PENSACOLA ESCROW May 09 00 1,590.00 MC OUTSTANDING
185 THE GRAND COURT CARROLLTON R.E. TAX May 09 00 4,492.02 MC OUTSTANDING
186 THE GRAND COURT DAYTON W/C ESCROW May 09 00 700.00 MC OUTSTANDING
187 THE GRAND COURT COLUMBUS W/C ESCROW May 09 00 650.00 MC OUTSTANDING
188 THE GRAND COURT CORPUS R.E. TAX DEP May 09 00 16,885.00 MC OUTSTANDING
189 THE GRAND COURT FINDLAY W/C ESCROW May 09 00 400.00 MC OUTSTANDING
190 WILLIAM JOSEPH CONVERY JR. LAND LEASE May 09 00 1,200.00 MC OUTSTANDING
191 THE GRAND COURT SPRINGFIELD W/C ESCROW May 09 00 400.00 MU OUTSTANDING
192 THE GRAND COURT I KANSAS CITY ESCROW/PP TX May 09 00 6,460.00 MC OUTSTANDING
193 THE GRAND COURT I KANSAS CITY ESCROW May 09 00 34,150.00 MC OUTSTANDING
194 THE GRAND COURT N. MIAMI ESCROW/TX May 09 00 13,325.00 MC OUTSTANDING
195 THE GRAND COURT MORRISTOWN RE TAX/PP TX May 09 00 5,636.00 MC OUTSTANDING
196 THE GRAND COURT ROUND ROCK ESCROW/PP TX May 09 00 11,575.00 MC OUTSTANDING
197 PARADISE COVE HOMEOWNERS ASSOC MAINT FEE May 09 00 968.00 MC OUTSTANDING
198 THE GRAND COURT TEMPLE ESCROW/PP TX May 09 00 11,370.00 MC OUTSTANDING
199 JACK SIEGEL CPA PA 99 PTNSHP May 09 00 2,500.00 MC OUTSTANDING
200 THE GRAND COURT TYLER RE TAX ESC May 09 00 18,100.00 MC OUTSTANDING
207 1792PO STATE OF MICHIGAN FILING FEE May 15 00 15.00 MC OUTSTANDING
210 53PO AT&T SYSTEM CHECK May 18 00 1,139.68 OUTSTANDING
233 1309BP NATIONWIDE COMPUTER SYSTEM CHECK May 18 00 286.20 OUTSTANDING
244 842BPO IRON MOUNTAIN SYSTEM CHECK May 18 00 280.50 OUTSTANDING
246 895BPO IOS CAPITAL SYSTEM CHECK May 18 00 1,174.74 OUTSTANDING
291 75PO ALABAMA DEPT. OF REVENUE SYSTEM CHECK May 18 00 110.00 OUTSTANDING
292 85PO ARIZONA DEPT. OF REVENUE SYSTEM CHECK May 18 00 50.00 OUTSTANDING
293 86P0 ARIZONA DEPT. REVENUE SYSTEM CHECK May 18 00 50.00 OUTSTANDING
298 131P0 AT&T WIRELESS SYSTEM CHECK May 18 00 966.54 OUTSTANDING
305 609PO FRANCHISE TAX BOARD SYSTEM CHECK May 18 00 800.00 OUTSTANDING
306 616PO FRANCHISE TAX BOARD SYSTEM CHECK May 18 00 800.00 OUTSTANDING
307 698PO GEORGIA INCOME TAX DIV. SYSTEM CHECK May 18 00 50.00 OUTSTANDING
308 1030PO KENTUCKY REVENUE CABINET SYSTEM CHECK May 18 00 300.00 OUTSTANDING
319 1784P0 STATE OF NJ DIV OF TAXATION SYSTEM CHECK May 18 00 260.00 OUTSTANDING
320 1788PO STATE COMPTROLLER SYSTEM CHECK May 18 00 8,000.00 OUTSTANDING
322 1877PO TENNESSEE DEPT OF REVENUE SYSTEM CHECK May 18 00 10.00 OUTSTANDING
323 1878PO TENNESSEE DEPT OF REVENUE SYSTEM CHECK May 18 00 10.00 OUTSTANDING
324 1879PO TENNESSEE DEPT OF REVENUE SYSTEM CHECK May 18 00 10.00 OUTSTANDING
325 1880PO TENNESSEE DEPT OF REVENUE SYSTEM CHECK May 18 00 10.00 OUTSTANDING
327 2040P0 UTAH STATE TAX COMMISSION SYSTEM CHECK May 18 00 100.00 OUTSTANDING
335 111PO AT&T WIRELESS CYMES May 22 00 101.89 MC OUTSTANDING
347 336PO SIDNEY DWORKIN BOARD MTGS May 24 00 3,000.00 MC OUTSTANDING
350 1002PO PAUL JAWIN REIMB EXP May 30 00 616.47 MC OUTSTANDING
351 1228PO KEITH MARLOWE REIMB PHONE May 30 00 98.47 MC OUTSTANDING
352 721PO GRAND COURT LIFESTYLES PAYROLL RE-OPEN A/C May 30 00 100.00 MC OUTSTANDING
353 123PO AT&T UNIPLAN 05/10/00 May 31 00 3,748.52 MC OUTSTANDING
</TABLE>
<PAGE>
Date: Jun 13 00 11:07am GRAND COURT LIFESTYES, INC. DIP
Check Reconciliation
Bank: CHASE CHASE CHECKING
<TABLE>
<CAPTION>
Vendor Status
Check Number Number Vendor Name Reference Check Date Amount Ty Status Change
------------ ------ ------------------------------ --------- ---------- -------- -- ---------- ------
<S> <C> <C> <C> <C> <C> <C> <C>
354 215P0 MAIL BOXES ETC. MAILING May 31 00 2,536.29 MC OUTSTANDING
</TABLE>
---- Summary ----
45 check(s) issued 155,035.32
-----------
45 check(s) outstanding 155,035.32
===========
CK# 339 524.70
CK# 340 249.10
CK# 341 1,206.92
CK# 342 215.24
-----------
157,231.28
===========
<PAGE>
[LOGO] CHASE
May 1 - May 31, 2000
Page 2 of 5
3l2-00312-EOOO-00312- H -113-9-02-W X - N -
Primary Account Number: 312-8380029-66
Business Checking 00-32578 DIP-GRAND CO
312-8380029-66 LIFESTYLE
================================================================================
Summary Number Amount
Opening Balance 54,704.85
---------------------------------------------------------------
Deposits and Credits 8 895,442.04
---------------------------------------------------------------
Withdrawals and Debits 6 395,935.68
---------------------------------------------------------------
Checks Paid 123 342,995.20
---------------------------------------------------------------
Ending Balance 211,215.94
<TABLE>
<CAPTION>
===============================================================================================================================
<S> <C> <C> <C>
Deposits and Date Description Am
Credits
--------------------------------------------------------------------------------------------------------------
05/02 Bank Miscellaneous Credit 102,700
05/04 Bank Miscellaneous Credit 40,000
05/04 Bank Miscellaneous Credit 742
05/05 Bank Miscellaneous Credit 30,000
05/10 Bank Miscellaneous Credit 175,000
05/10 Bank Miscellaneous Credit 150,000
05118 Bank Miscellaneous Credit 140,000
05/23 Bank Miscellaneous Credit 257,000
--------------------------------------------------------------------------------------------------------------
Total 895,442
<CAPTION>
===============================================================================================================================
<S> <C> <C> <C>
Withdrawals Date Description Am
and Debits
--------------------------------------------------------------------------------------------------------------
05/02 Money Transfer And Wire 25,000
05/10 Money Transfer And Wire 90,000
05/10 Money Transfer And Wire 85,000
05/23 Money Transfer And Wire 115,000
05/23 Money Transfer And Wire 72,000
05/23 Money Transfer And Wire 8,935
--------------------------------------------------------------------------------------------------------------
Total 395,935
<CAPTION>
=========================================================================================================================
Checks Paid Check Date Paid Amount Check Date Paid Amount Check Date Paid Amount
--------------------------------- --------------------------------- --------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
299 05/23 333.14 159 05/12 331.00 183* 05/15 75.00
91* 05/09 50.00 160 05/09 147.71 201* 05/25 1,061.95
99* 05/15 85.00 161 05/15 3,124.44 202 05/17 249.00
119* 05/02 887.25 162 05/15 1,070.07 203 05/15 26.01
129* 05/03 150.90 163 05/15 637.68 204 05/15 74.78
135* 05/03 1,166.26 164 05/09 1,206.93 205 05/19 242.37
136 05/01 27,008.03 165 05/08 948.00 206 05/22 6,000.00
138* 05/03 286.00 166 05/11 217.06 208* 05/24 281.01
141* 05/08 8,111.20 167 05/08 1,176.26 209 05/23 224.55
142 05/05 12,500.00 168 05/09 3,275.64 211* 05/25 17.45
143 05/05 3,750.00 169 05/09 231.81 212 05/25 13.23
144 05/08 77.96 170 05/08 6,234.22 213 05/25 4,923.40
145 05/08 138.80 171 05/09 8.29 214 05/25 12.06
146 05/12 92.81 172 05/04 1,309.50 215 05/24 671.77
148* 05/12 1,026.88 173 05/09 38,823.66 216 05/24 2,337.51
149 05/05 169.65 174 05/08 3,065.11 217 05/25 265.00
150 05/10 346.00 175 05/09 5,000.00 218 05/24 728.70
151 05/08 19,419.88 176 05/08 742.04 219 05/24 313.00
152 05/15 640 13 177 05/05 19,620.00 220 05/31 258.71
153 05/11 12,060.15 178 05/08 92.50 225* 05/24 15,751.32
154 05/11 215.24 179 05/10 1,651.92 226 05/25 41,236.13
157* 05/09 4,240.32 180 05/12 491.66 227 05/22 1,760.85
158 05/05 650.00 181 05/09 19,782.07 228 05/23 300.00
</TABLE>
<PAGE>
[LOGO] CHASE
May 1 - May 31, 2000
Page 3 of 5
3l2-00312-EOOO-00312- H -113-9-02-W X - N -
Primary Account Number: 312-8380029-66
Business Checking 00-32578 DIP-GRAND CO
312-8380029-66 (Continued) LIFESTYLE
<TABLE>
<CAPTION>
=========================================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
229 05/22 169.60 295 05/23 227.29 321* 05/26 1.58
231* 05/22 1,090.66 296 05/24 274.46 326* 05/26 75.00
232 05/22 1,283.92 297 05/24 21.23 328* 05/23 299.95
234* 05/23 3,696.88 300* 05/26 1,177.25 329 05/25 736.83
235 05/26 819.81 301 05/25 20.74 330 05/23 11,381.32
236 05/24 6,896.09 302 05/24 40.10 331 05/24 31.94
237 05/25 2,238.30 303 05/25 710.73 332 05/24 319.62
238 05/30 524.47 304 05/30 593.60 333 05/24 983.00
239 05/24 425.59 309* 05/25 727.46 334 05/23 1,048.97
240 05/26 164.25 310 05/24 388.00 336* 05/26 169.65
241 05/22 1,065.47 311 05/25 42.58 337 05/31 30.00
242 05/26 464.50 312 05/25 83.27 338 05/30 948.00
243 05/23 650.00 313 05/23 87.26 343* 05/31 1,300.00
245* 05/24 497.06 314 05/25 9.04 344 05/25 1,282.19
247* 05/23 708.75 315 05/25 193.10 345 05/31 42.74
249 05/24 504.56 316 05/31 1,588.35 346 05/30 1,969.08
290* 05/22 307.29 317 05/31 533.71 348* 05/30 3,000.00
294* 05/25 180.08 318 05/23 55.08 349 05/31 11,500.00
----------------------------------------------------------------------------------------------------------
Total (123 checks) 342,995.20
* indicates gap in check sequence
<CAPTION>
=========================================================================================================================
Daily Date Balance Date Balance Date Balance
Balances
------------------------------ ------------------------------- ---------------------------------
<S> <C> <C> <C> <C> <C> <C>
05/01 27,696.82 05/10 170,878.98 05/22 278,541.91
05/02 104,509.57 05/11 158,386.53 05/23 320,593.04
05/03 102,906.41 05/12 156,444.18 05/24 290,129.18
05/04 142,338.95 05/15 150,711.07 05/25 236,376.64
05/05 135,649.30 05/17 150,462.07 05/26 233,504.60
05/08 95,643.33 05/18 290,462.07 05/30 226,469.45
05/09 22,876.90 05/19 290,219.70 05/31 211,215.94
=========================================================================================================================
</TABLE>
Analysis Fee Your analysis fee has been waived this month.
Explanation
<PAGE>
<TABLE>
<S> <C> <C>
-------------------------------------------------------------------------------------------
GRAND COURT LIFESTYLES, INC.
-------------------------------------------------------------------------------------------
PAYROLL BANK RECONCILIATION
-------------------------------------------------------------------------------------------
S:\USERS\CM\100GCLPR.WK4
-------------------------------------------------------------------------------------------
Boca Payroll 2000
-------------------------------------------------------------------------------------------
May
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
BOOK BAL BEGINNING 14,982.94
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
CR - PER G/L
-------------------------------------------------------------------------------------------
WT fm Chase 90,000.00
-------------------------------------------------------------------------------------------
WT fm Chase 115,000.00
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
CD-PAYROLL-per ADP sheets 5/12/00 (59,702.64)
-------------------------------------------------------------------------------------------
5/26/00 (72,721.37)
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
401-k transfer 5/12/00 (1,874.35)
-------------------------------------------------------------------------------------------
401-k transfer 5/26/00 (1,788.50)
-------------------------------------------------------------------------------------------
401-k transfer
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
Payroll taxes 5/12/00 (24,304.17)
-------------------------------------------------------------------------------------------
Payroll taxes 5/26/00 (32,236.92)
-------------------------------------------------------------------------------------------
Payroll taxes
-------------------------------------------------------------------------------------------
Garnishments 5/12/00 (300.00)
-------------------------------------------------------------------------------------------
Garnishments 5/26/00 (300.00)
-------------------------------------------------------------------------------------------
Other CD
-------------------------------------------------------------------------------------------
Manual check-included in prior month CD 95 2,134.42
-------------------------------------------------------------------------------------------
Manual check-included in prior month CD 93 150.10
-------------------------------------------------------------------------------------------
Manual check-included in prior month CD 1002 872.23
-------------------------------------------------------------------------------------------
Manual check-not included in ADP 1013 (1,370,14)
-------------------------------------------------------------------------------------------
Manual check-not included in ADP 1012 (953.40)
-------------------------------------------------------------------------------------------
Manual check-not included in ADP 1010 (5.00)
-------------------------------------------------------------------------------------------
Manual check-not included in ADP
-------------------------------------------------------------------------------------------
Manual check-not included in ADP
-------------------------------------------------------------------------------------------
Voided cks per ADP included in prior month 2150 (1,596.66)
-------------------------------------------------------------------------------------------
Voided cks per ADP included in prior month 2151 (7,823.94)
-------------------------------------------------------------------------------------------
Voided cks per ADP included in prior month 2172 (436.15)
-------------------------------------------------------------------------------------------
Voided cks per ADP included in prior month
-------------------------------------------------------------------------------------------
Voided checks not yet in ADP 2245 908.77
-------------------------------------------------------------------------------------------
Voided checks not yet in ADP 2269 1,370.14
-------------------------------------------------------------------------------------------
Voided checks not yet in ADP
-------------------------------------------------------------------------------------------
Voided checks not yet in ADP
-------------------------------------------------------------------------------------------
CD-S/C (99.57)
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
BOOK BAL ENDING 19,905.79
---------
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
DIT
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
O/S
-------------------------------------------------------------------------------------------
2232 1,470.13
-------------------------------------------------------------------------------------------
2238 770.51
-------------------------------------------------------------------------------------------
2250 535.18
-------------------------------------------------------------------------------------------
1006 971.30
-------------------------------------------------------------------------------------------
2252 1,353.86
-------------------------------------------------------------------------------------------
2254 2,580.82
-------------------------------------------------------------------------------------------
2262 480.69
-------------------------------------------------------------------------------------------
2263 899.97
-------------------------------------------------------------------------------------------
2264 2,005.09
-------------------------------------------------------------------------------------------
2265 3,011.66
-------------------------------------------------------------------------------------------
1007 605.03
-------------------------------------------------------------------------------------------
2266 605.03
-------------------------------------------------------------------------------------------
2268 844.97
-------------------------------------------------------------------------------------------
2272 1,130.52
-------------------------------------------------------------------------------------------
401 k 5/25 1,788.50
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
19,053.26
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
BANK BALANCE 38,959.05
---------
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
Per Bank Statement 38,959.05
-------------------------------------------------------------------------------------------
-------------------------------------------------------------------------------------------
0.00
-------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
[LOGO] BANK A c c o u n t S t a t e m e n t
ATLANTIC
Last statement: April 30, 2000 Page 1 of 3
This statement: May 31, 2000 0055333296
Total days in statement period: 31 (119)
Direct inquiries to:
Atlanticline, 800-741-1700
GRAND COURT LIFESTYLES, INC
PAYROLL ACCOUNT BankAtlantic
2650 N MILITARY TRAIL STE 350 P.O. Box 8608
BOCA RATON FL 33431 Ft Lauderdale, FL 33310
---------------------------------------------------------------------------
FREE SIX MONTHS OF SECURE ELECTRONIC INTERNET-BASED FILE STORAGE. PROTECT
AND STORE YOUR FILES FROM DATA LOSS AND UNAUTHORIZED ACCESS. SIGN-UP TODAY
AT WWW.BANKATLANTIC.COM. SPECIAL LIMITED TIME OFFER.
---------------------------------------------------------------------------
---------------------------
Business Analysis Checking
---------------------------
Account number 0055333296 Beginning balance $76,177.69
Enclosures 119 Total additions 205,000.00
Avg collected balance $47,007.00 Total subtractions 242,218.64
Ending balance $38,959.05
CHECKS
Number Date Amount Number Date Amount
--------------------------- ---------------------------
93 05-05 150.10 2156 05-01 1,071.21
--------------------------- ---------------------------
1002* 05-01 872.23 2157 05-01 7,097.60
--------------------------- ---------------------------
1003 05-15 300.00 2158 05-01 6,502.85
--------------------------- ---------------------------
1005* 05-15 417.43 2159 05-02 532.83
--------------------------- ---------------------------
1008* 05-15 273.90 2160 05-05 1,353.86
--------------------------- ---------------------------
1010* 05-15 1,186.66 2161 05-02 815.82
--------------------------- ---------------------------
1011 05-26 300.00 2162 05-01 2,580.82
--------------------------- ---------------------------
1012 05-30 953.40 2163 05-02 788.27
--------------------------- ---------------------------
1013 05-30 1,370.14 2165* 05-01 771.19
--------------------------- ---------------------------
2138* 05-02 964.36 2166 05-01 815.82
--------------------------- ---------------------------
2142* 05-04 3,771.48 2167 05-02 1,023.63
--------------------------- ---------------------------
2143 05-02 985.21 2168 05-01 3,026.17
--------------------------- ---------------------------
2144 05-03 1,470.13 2169 05-02 784.79
--------------------------- ---------------------------
2146* 05-01 1,013.44 2170 05-03 899.97
--------------------------- ---------------------------
2147 05-01 778.06 2171 05-04 2,005.09
--------------------------- ---------------------------
2148 05-08 727.52 2173* 05-03 844.97
--------------------------- ---------------------------
2149 05-01 4,397.34 2174 05-01 1,370.14
--------------------------- ---------------------------
2152* 05-01 1,327.15 2175 05-01 2,544.10
--------------------------- ---------------------------
2154* 05-01 1,966.49 2176 05-01 1,482.45
--------------------------- ---------------------------
2155 05-01 908.77 2177 05-04 1,130.52
--------------------------- ---------------------------
[LOGO] FDIC Please see reverse side for important disclosures.
[LOGO][ILLEGIBLE]
<PAGE>
Account Statment
----------------
[LOGO] Bank
Atlantic
----------------
GRAND COURT LIFESTYLES, INC Page 2 of 3
May 31, 2000 0055333296
Number Date Amount
--------------------------------------------------------------------------------
2178 05-02 1,121.10
--------------------------------------------------------------------------------
2179 05-05 853.90
--------------------------------------------------------------------------------
2180 05-12 964.36
--------------------------------------------------------------------------------
2181 05-12 895.97
--------------------------------------------------------------------------------
2182 05-12 921.61
--------------------------------------------------------------------------------
2183 05-12 1,231.03
--------------------------------------------------------------------------------
2184 05-12 3,442.52
--------------------------------------------------------------------------------
2185 05-12 819.82
--------------------------------------------------------------------------------
2186 05-12 985.21
--------------------------------------------------------------------------------
2187 05-12 1,470.13
--------------------------------------------------------------------------------
2188 05-12 1,516.58
--------------------------------------------------------------------------------
2189 05-12 1,013.44
--------------------------------------------------------------------------------
2190 05-12 357.44
--------------------------------------------------------------------------------
2191 05-12 778.06
--------------------------------------------------------------------------------
2193 * 05-12 727.52
--------------------------------------------------------------------------------
2194 05-12 4,997.34
--------------------------------------------------------------------------------
2195 05-12 1,100.93
--------------------------------------------------------------------------------
2197 * 05-12 1,327.15
--------------------------------------------------------------------------------
2198 05-12 1,402.63
--------------------------------------------------------------------------------
2199 05-12 1,966.49
--------------------------------------------------------------------------------
2200 05-12 908.77
--------------------------------------------------------------------------------
2201 05-12 1,071.21
--------------------------------------------------------------------------------
2202 05-12 7,097.60
--------------------------------------------------------------------------------
2203 05-12 4,698.65
--------------------------------------------------------------------------------
2204 05-12 532.83
--------------------------------------------------------------------------------
2205 05-12 1,353.86
--------------------------------------------------------------------------------
2206 05-12 815.82
--------------------------------------------------------------------------------
2207 05-12 2,580.82
--------------------------------------------------------------------------------
2208 05-12 1,084.16
--------------------------------------------------------------------------------
2209 05-12 771.19
--------------------------------------------------------------------------------
2210 05-12 815.82
--------------------------------------------------------------------------------
2211 05-12 1,023.63
--------------------------------------------------------------------------------
2212 05-12 3,026.17
--------------------------------------------------------------------------------
2213 05-12 447.28
--------------------------------------------------------------------------------
2214 05-12 961.37
--------------------------------------------------------------------------------
2215 05-12 899.97
--------------------------------------------------------------------------------
2216 05-12 2,005.09
--------------------------------------------------------------------------------
2217 05-12 872.23
--------------------------------------------------------------------------------
2218 05-12 844.97
--------------------------------------------------------------------------------
2219 05-12 1,370.14
--------------------------------------------------------------------------------
2220 05-12 2,544.10
--------------------------------------------------------------------------------
2221 05-12 1,482.45
--------------------------------------------------------------------------------
2222 05-12 1,130.52
--------------------------------------------------------------------------------
2223 05-12 648.63
--------------------------------------------------------------------------------
2224 05-12 94.12
--------------------------------------------------------------------------------
2225 05-30 964.36
--------------------------------------------------------------------------------
2226 05-26 896.86
--------------------------------------------------------------------------------
2227 05-26 921.61
--------------------------------------------------------------------------------
2228 05-30 1,231.03
--------------------------------------------------------------------------------
2229 05-30 3,442.52
--------------------------------------------------------------------------------
2230 05-30 819.82
--------------------------------------------------------------------------------
2231 05-31 985.21
--------------------------------------------------------------------------------
2233 * 05-30 1,013.44
--------------------------------------------------------------------------------
2234 05-30 292.66
--------------------------------------------------------------------------------
2235 05-30 834.70
--------------------------------------------------------------------------------
2236 05-30 778.06
--------------------------------------------------------------------------------
2237 05-30 943.97
--------------------------------------------------------------------------------
2239 * 05-30 5,457.04
--------------------------------------------------------------------------------
2240 05-30 1,005.36
--------------------------------------------------------------------------------
2241 05-31 300.20
--------------------------------------------------------------------------------
2242 05-30 1,327.15
--------------------------------------------------------------------------------
2243 05-30 1,402.63
--------------------------------------------------------------------------------
2244 05-30 2,066.06
--------------------------------------------------------------------------------
2246 * 05-30 1,071.21
--------------------------------------------------------------------------------
2247 05-30 7,097.60
--------------------------------------------------------------------------------
2248 05-30 4,698.65
--------------------------------------------------------------------------------
2249 05-31 532.83
--------------------------------------------------------------------------------
2251 * 05-30 971.30
--------------------------------------------------------------------------------
2253 * 05-31 815.82
--------------------------------------------------------------------------------
2255 * 05-30 1,084.16
--------------------------------------------------------------------------------
2256 05-30 771.19
--------------------------------------------------------------------------------
2257 05-30 815.82
--------------------------------------------------------------------------------
2258 05-31 837.74
--------------------------------------------------------------------------------
2259 05-31 513.20
--------------------------------------------------------------------------------
2260 05-30 3,026.17
--------------------------------------------------------------------------------
2261 05-30 898.57
--------------------------------------------------------------------------------
2267 * 05-30 864.23
--------------------------------------------------------------------------------
2270 * 05-30 2,544.10
--------------------------------------------------------------------------------
2271 05-30 1,482.45
--------------------------------------------------------------------------------
* Skip in check sequence
DEBITS
Date Description Subtractions
--------------------------------------------------------------------------------
05-01 Wire Transfer-Out 4/28/00 P/R 1,845.37
--------------------------------------------------------------------------------
05-03 Preauthorized Debit 52.40
CLARKE AMERICAN CHK ORDER 000503
YHK210651245200
---------
FDIC
[LOGO] --------- [GRAPHIC]
INSURED
---------
Please see reverse side for important disclosures.
<PAGE>
Account Statement
----------------
[LOGO] Bank
Atlantic
----------------
GRAND COURT LIFESTYLES, INC Page 3 of 3
May 31, 2000 0055333296
Date Description Subtractions
--------------------------------------------------------------------------------
05-03 Preauthorized Debit 30.43
CLARKE AMERICAN CHK ORDER 000503
YHK211980327000
--------------------------------------------------------------------------------
05-11 Wire Transfer-Out Federal Tax Deposit 5/12 24,304.17
--------------------------------------------------------------------------------
05-12 Wire Transfer-Out P/R 5/12/00 1,874.35
--------------------------------------------------------------------------------
05-23 Maintenance Fee 16.74
ANALYSIS LOSS/CHG FOR 04/30/2000
--------------------------------------------------------------------------------
05-26 Wire Transfer-Out Federal Tax Deposit 5/26 32,236.92
CREDITS
Date Description Additions
--------------------------------------------------------------------------------
05-10 Wire Transfer-IN 90,000.00
--------------------------------------------------------------------------------
05-24 Wire Transfer-IN 115,000.00
DAILY BALANCES
Date Amount
--------------------------------------------------------------------------------
04-30 76,177.69
--------------------------------------------------------------------------------
05-01 35,206.49
--------------------------------------------------------------------------------
05-02 28,190.48
--------------------------------------------------------------------------------
05-03 24,892.58
--------------------------------------------------------------------------------
05-04 17,985.49
--------------------------------------------------------------------------------
05-05 15,627.63
--------------------------------------------------------------------------------
05-08 14,900.11
--------------------------------------------------------------------------------
05-10 104,900.11
--------------------------------------------------------------------------------
05-11 80,595.94
--------------------------------------------------------------------------------
05-12 73,186.19
--------------------------------------------------------------------------------
05-15 35,728.95
--------------------------------------------------------------------------------
05-16 28,359.33
--------------------------------------------------------------------------------
05-17 22,764.14
--------------------------------------------------------------------------------
05-18 15,019.19
--------------------------------------------------------------------------------
05-19 13.549.06
--------------------------------------------------------------------------------
05-22 11,543.97
--------------------------------------------------------------------------------
05-23 11,527.23
--------------------------------------------------------------------------------
05-24 126,527.23
--------------------------------------------------------------------------------
05-26 92,171.84
--------------------------------------------------------------------------------
05-30 42,944.05
--------------------------------------------------------------------------------
05-31 38,959.05
--------------------------------------------------------------------------------
Thank you for banking with BankAtlantic
---------
FDIC
[LOGO] --------- [GRAPHIC]
INSURED
---------
Please see reverse side for important disclosures.
<PAGE>
--------------------------------------------------------------------------------
GRAND COURT LIFESTYLES, INC
--------------------------------------------------------------------------------
PAYROLL BANK RECONCILIATION
--------------------------------------------------------------------------------
S:\USERS\CM\100GCLPR.WK4
--------------------------------------------------------------------------------
Ft. Lee Payroll 2000
--------------------------------------------------------------------------------
May
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BOOK BAL BEGINNING 9,818.13
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
CR - PER G/L 25,000.00
--------------------------------------------------------------------------------
85,000.00
--------------------------------------------------------------------------------
72,000.00
--------------------------------------------------------------------------------
CD - PAYROLL - per ADP sheets 5/12/2000 (77,723.63)
--------------------------------------------------------------------------------
5/25/00 (41,101.68)
--------------------------------------------------------------------------------
Health insurance ck#23 (2,240.12)
--------------------------------------------------------------------------------
Payroll taxes 5/12/00 (40,002.77)
--------------------------------------------------------------------------------
Payroll taxes 5/25/00 (27,480.09)
--------------------------------------------------------------------------------
Garnishments ck#21 (1,311.50)
--------------------------------------------------------------------------------
Garnishments ck#22 (1,311.50)
--------------------------------------------------------------------------------
Manual check- included in prior month CD ck#15 1,931.35
--------------------------------------------------------------------------------
Manual check- included in prior month CD ck#16 4,383.69
--------------------------------------------------------------------------------
Manual check- included in prior month CD ck#17 5,565.20
--------------------------------------------------------------------------------
Manual check- included in prior month CD ck#18 77.98
--------------------------------------------------------------------------------
Other
--------------------------------------------------------------------------------
CD-SC (31.47)
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BOOK BAL ENDING 12,573.59
==========
--------------------------------------------------------------------------------
DIT:
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
O/S:
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
0.00
--------------------------------------------------------------------------------
--------------------------------------------------------------------------------
BANK BALANCE 12,573.59
==========
<PAGE>
[LOGO] Fleet
STATEMENT OF ACCOUNTS
PAGE 1 OF 3
9417-9095 [ILLEGIBLE]
STATEMENT D [ILLEGIBLE]
05/31/00
Questions?
Call our Busin [ILLEGIBLE]
027 Banking Center
1-800-PARTN [ILLEGIBLE]
(1-800-727- [ILLEGIBLE]
GRAND COURT PAYROLL - FORT LEE CY Cash Reserve Pa [ILLEGIBLE]
DEBTOR IN POSSESSION ----------------------------
CASE # 00-32578(NLW)
----------------------------
ONE EXECUTIVE DRIVE Please rem [ILLEGIBLE]
FORT LEE NJ 07024 15 ENCLOSED ITEMS FLEET BA [ILLEGIBLE]
Cash Reser [ILLEGIBLE]
PO Box 15 [ILLEGIBLE]
Hartford, CT. 06 [ILLEGIBLE]
<TABLE>
<CAPTION>
detach
=====================================================================================================================
BEGINNING DEPOSITS, OTHER CHECKS, WITHDRAWALS INTEREST ACCOUNT ACTIVITY ENDING
CHECKING BALANCE CREDITS OTHER DEBITS PAID & OTHER FEES BALANCE
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
9417-909587 32473.14 182000.00 201899.55 .00 .00 12573 [ILLEGIBLE]
---------------------------------------------------------------------------------------------------------------------
</TABLE>
ACCOUNT NO. 9417-909587 BUSINESS CHECKING PERIOD 04/29/00 THROUGH 05/31/00
BUSINESS BANKING CENTER ACCESS CODE 8051
================================================================================
- DEBITS AND CREDITS -
================================================================================
DATE DEBITS (-) CREDITS (+) DESCRIPTION
05-02 25,000.00 WIRE INCOMING FED
05/02/00 004751
9999000502004751
0730600123FA
CHASE MANHATTAN BANK
05-10 85,000.00 WIRE INCOMING FED
05/10/00 005994
9999000510005994
1184400131FA
CHASE MANHATTAN BANK
05-10 40,002.77 PREAUTHORIZED DDA DEBIT
ADP TX/FINCL ADP - TAX
000510 07JUK 051119A01
GRAND COURT PAYROLL-FO
020001315633355 CCD
05-10 39,500.34 PREAUTHORIZED DDA DEBIT
ADP TX/FINCL ADP - TAX
000510 07JUK 051119M01
GRAND COURT PAYROLL-FO
020001315661267 CCD
05-11 31.47 PRIOR MONTH SERVICE CHARGE
05-23 72,000.00 WIRE INCOMING FED
05/23/00 006282
9999000523006282
1470800144FA
CHASE MANHATTAN BANK
--------------------------------------------------------------------------------
Notice: See reverse side for important information.
<PAGE>
[LOGO] Fleet
STATEMENT OF ACCOUNTS
PAGE 2 OF 3
9417-90958 [ILLEGIBLE]
STATEMENT D [ILLEGIBLE]
05/31/00
Questions?
Call our Busin [ILLEGIBLE]
027 Banking Center
1-800-PARTN [ILLEGIBLE]
(1-800-727-8 [ILLEGIBLE]
GRAND COURT PAYROLL - FORT LEE CY Cash Reserve Pa [ILLEGIBLE]
DEBTOR IN POSSESSION ----------------------------
CASE # 00-32578(NLW) ----------------------------
ONE EXECUTIVE DRIVE Please rem [ILLEGIBLE]
FORT LEE NJ 07024 FLEET BA [ILLEGIBLE]
Cash Reser [ILLEGIBLE]
PO Box 150 [ILLEGIBLE]
Hartford, CT. 06 [ILLEGIBLE]
detach
================================================================================
ACCOUNT NO. 9417-909587 CONTINUED PERIOD 04/29/00 THROUGH 05/31/00
================================================================================
- DEBITS AND CREDITS -
================================================================================
DATE DEBITS (-) CREDITS (+) DESCRIPTION
05-24 39,544.05 PREAUTHORIZED DDA DEBIT
ADP TX/FINCL ADP - TAX
000524 07JUK 052521M01
GRAND COURT PAYROLL-FO
020001458216868 CCD
05-24 27,480.09 PREAUTHORIZED DDA DEBIT
ADP TX/FINCL ADP - TAX
000524 07JUK 052521A01
GRAND COURT PAYROLL-FO
020001458195160 CCD
================================================================================
- CHECKS POSTED -
================================================================================
DATE CHECK NO. AMOUNT
05-01 12 3,287.51
05-02 14* 1,311.50
05-01 15 1,931.35
05-01 16 4,383.69
05-01 17 5,565.20
05-01 19* 3,600.81
05-04 20 24,785.42
05-17 21 1,311.50
05-31 22 1,311.50
05-26 23 2,240.12
05-01 2926* 2,574.95
05-12 2928* 1,032.37
05-15 2929 477.28
05-30 2930 1,032.37
05-25 2931 525.26
* DENOTES SEQUENCE BREAK
================================================================================
- DAILY BALANCE SUMMARY -
================================================================================
DATE BALANCE
05-01 11,129.63
05-02 34,818.13
05-04 10,032.71
05-10 15,529.60
05-11 15,498.13
05-12 14,465.76
05-15 14,018.48
05-17 12,706.98
05-23 84,706.98
05-24 17,682.84
05-25 17,157.58
05-26 14,917.46
05-30 13,885.09
05-31 12,573.59
--------------------------------------------------------------------------------
Notice: See reverse side for important information.
<PAGE>
[LOGO] Fleet
STATEMENT OF ACCOUNTS
PAGE 3 OF 3
9417-90958 [ILLEGIBLE]
STATEMENT D [ILLEGIBLE]
05/31/00
Questions?
Call our Busin [ILLEGIBLE]
027 Banking Center
1-800-PARTN [ILLEGIBLE]
(1-800-727-8 [ILLEGIBLE]
GRAND COURT PAYROLL - FORT LEE CY Cash Reserve Pa [ILLEGIBLE]
DEBTOR IN POSSESSION ----------------------------
CASE # 00-32578(NLW) ----------------------------
ONE EXECUTIVE DRIVE Please rem [ILLEGIBLE]
FORT LEE NJ 07024 FLEET BA [ILLEGIBLE]
Cash Reser [ILLEGIBLE]
PO Box 150 [ILLEGIBLE]
Hartford, CT. 06 [ILLEGIBLE]
detach
================================================================================
ACCOUNT NO. 9417-909587 CONTINUED PERIOD 04/29/00 THROUGH 05/31/00
================================================================================
EFFECTIVE JULY 1, THE TELLER NIGHT
DROP DEPOSIT FEE WILL INCREASE $ .25.
THE ATM DEPOSIT FEE IS UNCHANGED.
================================================================================
--------------------------------------------------------------------------------
Notice: See reverse side for important information.
<PAGE>
S:\SHARED\BANKRUPT\SCHEDULE\CRCD.WK4
Grand Court Lifestyles, Inc.
Payroll Reconciliation - Fort Lee Payroll
May 2000
Balance beginning 0.00
Transfer 100.00
------
Ending balance 100.00
======
<PAGE>
CHASE MANHATTAN BANK
REAL ESTATE ESCROW ACCOUNT
A/C 312-8396952-65
MAY 31, 2000
Beginning Balance @ 05/01/00 128,779.67
Add: Cash Receipts 241.55
Less: Cash Disbursements 0.00
----------
Book Balance @ 05/31/00 129,021.22
Less: Deposits in Transit 0.00
Add: Outstanding Checks 0.00
----------
Bank Balance @ 05/31/00 129,021.22
==========
<PAGE>
GRAND COURT LIFESTYLES, INC.
REAL ESTATE TAX ESCROW ACCOUNT
MAY 1 - MAY 31, 2000
128,779.67
Interest Income Credit 241.55
----------
Grand total @ 05/31/00 129,021.22
==========
<PAGE>
--------------------------------------
[LOGO] CHASE
--------------------------------------
May 1 - May 31, 2000
Page 3 of 3
Primary Account Number: 312-8396952-65 [ILLEGIBLE]
312-00312-E000-00312-H -113-9-03-W X- N-
Bankruptcy MMA 00-32578-NLW DIP-GRAND C [ILLEGIBLE]
312.8396952-67 LIFESTYLES
================================================================================
Summary Number Amount
Opening Balance 128,779.67
--------------------------------------------------------
Deposits and Credits 1 241.55
--------------------------------------------------------
Withdrawals and Debits 0 0.00
--------------------------------------------------------
Checks Paid 0 0.00
--------------------------------------------------------------------
Ending Balance 129,021.22
--------------------------------------------------------------------
Average Balance 128,787.46
--------------------------------------------------------
Interest Earned for 31 Day(s) 241.55
Interest Rate(s): 05/01 to 05/29 at 2.20%
05/30 to 05/31 at 2.30%
--------------------------------------------------------------------
Annual Percentage Yield Earned 2.24%
--------------------------------------------------------------------
Interest Credited in 2000 445.74
================================================================================
Deposits Date Description Amount
and
Credits -------------------------------------------------------------------
05/31 Interest Credit 241.55
===================================================================
Total 241.55
================================================================================
Daily Date Balance
Balances
--------------------------------------------------------------------
05/31 129,021.22
<PAGE>
CHASE MANHATTAN BANK
RENTAL AGENCY ESCROW ACCT.
A/C 312-8396952-65
MAY 31, 2000
Beginning Balance @ 05/01/00 11,463.41
Add: Cash Receipts 38.40
Less: Cash Disbursements (2,805.95)
---------
Book Balance @ 05/31/00 8,695.86
Less: Deposits in Transit 0.00
Add: Outstanding Checks 0.00
---------
Bank Balance @ 05/31/00 8,695.86
=========
<PAGE>
GRAND COURT LIFESTYLES, INC.
RENTAL AGENCY ACCOUNT
MAY 1 - MAY 31, 2000
Balance @ 05/01/00 11,463.41
Transfer from Rental to Cover P. Smith Debit (742.04)
Wire Wachovia Bank/GCL P/R Corp. Wire (2,063.91)
Affiliate Purchasing Services-MCR Distribution A/C Deposit 20.89
Interest Income Credit 17.51
---------
Grand total @ 05/31/00 8,695.86
=========
<PAGE>
[LOGO] CHASE
May 1 - May 31, 2000
Page 2 of 3
312-00312-E000-00312- H -113-9-03-W X - N - Primary Account Number
312-8396952-65
Bankruptcy MMA 00-32578-NLW DIP-GRAND C[ILLEGIBLE]
312-8396952-65 LIFESTYLES
<TABLE>
<CAPTION>
====================================================================================================================
Summary Number Amount
<S> <C> <C> <C> <C> <C>
Opening Balance 11,463.41
--------------------------------------------------
Deposits and credits 2 38.40
--------------------------------------------------
Withdrawals and Debits 2 2,805.95
--------------------------------------------------
Checks Paid 0 0.00
==================================================
Ending Balance 8,695.86
----------------------------------------------------------------------------------------------------
Average Balance 9,337.79 Annual Percentage Yield Earned 2.24%
----------------------------------------------------------------------------------------------------
Interest Earned for 31 Day(s) 17.51 Interest Credited in 2000 369.61
Interest Rate(s): 05/01 to 05/29 at 2.20%
05/30 to 05/31 at 2.30%
====================================================================================================================
Deposits and Date Description Amount
Credits
----------------------------------------------------------------------------------------------------
05/19 Deposit 20.89
05/31 Interest Credit 17.51
====================================================================================================
Total 38.40
====================================================================================================================
Withdrawals Date Description Amount
and Debits
----------------------------------------------------------------------------------------------------
05/04 Bank Miscellaneous Debit 742.04
05/10 Money Transfer And Wire 2,063.91
====================================================================================================
Total 2,805.95
====================================================================================================================
Daily Date Balance Date Balance Date Balance
Balances
------------------------------- --------------------------- ------------------------------
05/04 10,721.37 05/19 8,678.35
05/10 8,657.46 05/31 8,695.86
====================================================================================================================
Analysis Fee Your analysis fee has been waived this month.
Explanation
</TABLE>
<PAGE>
S:\SHARED\BANKRUPT\SCHEDULE\OPREPORT.WK4
Form MOR-2
Grand Court Lifestyles, Inc.
Income Statement
May 1, 2000 - May 31, 2000
Cumulative Filing
4/30/00 to Date
------------------------------
Revenues
Management Fee income 187,588 487,598
General Partner Fees 27,250 68,145
Interest income 852,680 2,465,512
Deferrec Profit Earned 61,916 147,799
------------------------------
Total Revenues 1,129,435 3,169,055
Administrative Expenses
Travel 11,450 14,484
Telephone 20,460 42,627
Federal Express 258 1,514
Postage 2,382 11,286
Office Supplies & Expense 16,052 19,799
Outside Storage 3,444 3,444
Miscellaneous 10,961 10,961
ADP 436 952
Legal & Accounting 7,586 7,616
Licenses & Filing Fees 9,973 10,072
Recruitment 2,024 6,585
Printing 0 5,033
Caton Expenses 14,300 21,678
Rent 60,656 120,344
Computer Equipment Maintenance 3,032 8,921
Insurance 39,639 78,886
Equipment Leases 6,275 9,447
Office Salaries and expenses 380,546 914,551
Director's Fees 6,000 6,000
Interest 1,243 1,243
Amortization 20,328 47,869
------------------------------
Total Administrative Expenses 617,045 1,341,312
------------------------------
Extraordinary Expenses
Net loss due to loss of properties(1) 2,253,181 4,249,282
------------------------------
Total Expenses 2,870,226 5,590,594
------------------------------
Net Loss Before Reorganization Expenses (1,740,792) (2,421,540)
------------------------------
Restructuring Expenses
Administrative fees (33,748) (39,902)
US Trustee Quarterly Fees 0 3,750)
Interest Earned on Accumulated Cash
from Chapter 11 4,736 11,180
------------------------------
Total Reorganization Expenses (29,012) (32,472)
------------------------------
Net Income(Loss) (1,769,804) (2,454,012)
==============================
(1) Net loss due to loss of properties for the month of May represents:
The final payroll for Capstone properties 2,064
Write-off of receivables relating to two senior living
communities whose mortgages went into default in March 2000. 1,249,494
Write-off of a multi-family receivable relating to a
property whose mortgage has been in default 1,001,623
---------
2,253,181
=========
There are twelve additional senior living properties that are currently in
default of their mortgages. The debtor is in the process of negotiating with the
respective mortgage lenders and is unable to determine whether such negotiations
will be successful.
The are nine additional multi-family properties that may be lost through
foreclosure. The debtor is in the process of attempting to sell these properties
but is unable to determine whether such sales will occur or at what price.
<PAGE>
S:\SHARED\BANKRUPT\SCHEDULE\OPREPORT.WK4
Form MOR-3
Grand Court Lifestyles, Inc.
Balance Sheet
May 31, 2000
Back Value Book Value
at end of on Petition
Month Date
-----------------------------
Assets:
Cash 2,475,846 2,995,969
Notes & Receivables 227,051,211 227,986,234
Investments 16,099,729 16,099,729
Construction in Progress 715,746 739,486
Furniture & Equipment-net 609,199 4,658,158
Other Assets 18,079,791 18,526,143
-----------------------------
Total Assets 265,031,522 271,005,719
=============================
Liabilities Not Subject to Compromise:
Accounts Payable 534,511 546,973
-----------------------------
Total Post-Petition Liabilities 534,511 546,973
-----------------------------
Deferred Income 66,992,089 67,403,696
Deferred Rent Obligations -- 2,741,705
Liabilities Subject to Compromise:
Secured Debt 106,297,615 106,385,512
Prionty Debt 225,525 486,635
Unsecured Debt 84,191,846 84,197,250
-----------------------------
Total Pre-Petition Liabilities 190,714,986 191,069,397
-----------------------------
Stockholders' Equity:
Common Stock 178,000 178,000
Treasury Stock (1,579,817) (1,579,817)
Paid-in-Capital 75,053,000 75,053,000
Accumulated Deficit (57,190,813) (57,190,813)
Net (loss) for period (9,670,434) (7,216,422)
-----------------------------
Total Stockholders' Equity 6,789,936 9,243,948
-----------------------------
Total Liabilities & Stockholders' Equity 265,031,522 271,005,719
=============================
<PAGE>
S:\SHARED\BANKRUPT\SCHEDULE\USTRUST.WK4
Case Number: 00-32578(NLW)
Reporting Period: Month of May
Status of Postpetition Taxes
Fort Lee office
<TABLE>
<CAPTION>
Beginning Amount Ending
Tax Withheld Amount Date Check No Tax
Liability or Accrued Paid Paid or EFT Liability
--------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Federal
Withholding 684 37,453 37,453 5/12,5/25 see attached 684
FICA-Employee 329 9,411 9,411 5/12,5/25 see attached 329
FICA-Employer 329 9,411 9,411 5/12,5/25 see attached 329
Unemployment 0 see attached 0
Income 0
Other: 0 0
--------------------------------------------------------------------------
Total Federal Taxes 1,341 56,274 56,274 0 0 1,341
--------------------------------------------------------------------------
State & Local
Withholding 0 10,437 10,437 5/12,5/25 see attached 0
Sales 0
Excise 0
Unemployment 0 772 772 5/12,5/25 see attached 0
Real Property 0
Personal Property 0
Other 0
--------------------------------------------------------------------------
Total State & Local 0 11,209 1,209 0 0 0
--------------------------------------------------------------------------
Total Taxes 1,341 67,483 67,483 0 0 1,341
==========================================================================
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
===================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net Pay Checks 1,479.65
--------------------------------------------------------------------------------------------------
Direct Deposits 39,500.34
==============================================================================================================
Subtotal Net Pay 40,979.99
--------------------------------------------------------------------------------------------------
Adjustments 36,743.64
==============================================================================================================
Total Net Pay Liability (Net Cash) 77,723.63
============================================================================================================
Taxes You are responsible for Amount debited
Depositing these amounts from your account
------------------------ ------------------------
Federal Agency Rate EE withheld ER contrib. EE withheld ER contrib.
---------------------------------------------- ----------- ----------- ----------- -----------
Federal Income Tax 22,017.08
---------------------------------------------- ----------- ----------- ----------- -----------
Earned Income Credit Advances
---------------------------------------------- ----------- ----------- ----------- -----------
Social Security 3,939.39 3,939.40
---------------------------------------------- ----------- ----------- ----------- -----------
Medicare 1,650.37 1,650.37
---------------------------------------------- ----------- ----------- ----------- -----------
Federal Unemployment Tax
============================================== =========== =========== =========== =========== =========
Subtotal Federal 27,606.84 5,589.77 33,196.61
---------------------------------------------- ----------- ----------- ----------- -----------
State NJ State Income Tax 4,302.16
---------------------------------------------- ----------- ----------- ----------- -----------
NJ State Unemployment/Disability Ins-ER 2.8000 356.25
---------------------------------------------- ----------- ----------- ----------- -----------
NJ State Unemployment Insurance-EE
---------------------------------------------- ----------- ----------- ----------- -----------
NJ State Disability Insurance-EE 117.70
============================================== =========== =========== =========== =========== =========
Subtotal NJ 4,419.86 356.25 4,776.11
---------------------------------------------- ----------- ----------- ----------- -----------
NY State Income Tax 1,548.01
---------------------------------------------- ----------- ----------- ----------- -----------
NY State Unemployment/Disability Ins-ER 4.8000
---------------------------------------------- ----------- ----------- ----------- -----------
NY State Disability Insurance-EE 1.20
============================================== =========== =========== =========== =========== =========
Subtotal NY 1.20 1,548.01 1,549.21
---------------------------------------------- ----------- ----------- ----------- -----------
Local 0022 New York Cit 482.04
============================================== =========== =========== =========== =========== =========
Subtotal Local 482.04 482.04
============================================== =========== =========== =========== =========== =========
Total Taxes 1.20 0.00 34,056.75 5,946.02 40,003.97
===========================================================================================================================
Amount ADP Debited From Account 9417909587 Tran/ABA 021200339 40,002.77
Excludes Taxes That Are Your Responsibility
============================================================================================================
Other ADP Direct Deposit 39,500.34
16 Employee Transactions
Transfer ==========================================================================================================================
Amount ADP Debited From Account 9417909587 Tran/ABA 021200339 39,500.34
Wire Direct - Pay Date Minus 1 Business Days
====================================================================================================================================
Total Amount ADP Debited From Your Accounts 79,503.11
</TABLE>
================================================================================
ADP(R) Statistical Summary GRAND COURT-EXEC-NJ
Detail Company Code: JUK
Region Name: MIAMI REGION
Batch: 1174 Period Ending: 05/12/2000 Week 19
Quarter Number: 2 Pay Date: 05/11/2000 Page 2
Current Date: 05/08/2000
<PAGE>
<TABLE>
<CAPTION>
===================================================================================================
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Net Pay Checks 1,557.63
--------------------------------------------------------------------------------------------------
Direct Deposits 39,544.05
==============================================================================================================
Subtotal Net Pay 41,101.68
--------------------------------------------------------------------------------------------------
Adjustments .00
==============================================================================================================
Total Net Pay Liability (Net Cash) 41,101.68
============================================================================================================
Taxes You are responsible for Amount debited
Depositing these amounts from your account
------------------------ ------------------------
Federal Agency Rate EE withheld ER contrib. EE withheld ER contrib.
---------------------------------------------- ----------- ----------- ----------- -----------
Federal Income Tax 15,435.53
---------------------------------------------- ----------- ----------- ----------- -----------
Earned Income Credit Advances
---------------------------------------------- ----------- ----------- ----------- -----------
Social Security 2,855.76 2,855.75
---------------------------------------------- ----------- ----------- ----------- -----------
Medicare 965.34 965.34
---------------------------------------------- ----------- ----------- ----------- -----------
Federal Unemployment Tax
============================================== =========== =========== =========== =========== =========
Subtotal 19,256.63 3,821.09 23,077.72
---------------------------------------------- ----------- ----------- ----------- -----------
State NJ State Income Tax 2,074.44
---------------------------------------------- ----------- ----------- ----------- -----------
NJ State Unemployment/Disability Ins-ER 2.8000 223.90
---------------------------------------------- ----------- ----------- ----------- -----------
NJ State Unemployment Insurance-EE
---------------------------------------------- ----------- ----------- ----------- -----------
NJ State Disability Insurance-EE 73.98
============================================== =========== =========== =========== =========== =========
Subtotal NJ 2,148.42 223.90 2,372.32
---------------------------------------------- ----------- ----------- ----------- -----------
NY State Income Tax 1,548.01
---------------------------------------------- ----------- ----------- ----------- -----------
NY State Unemployment/Disability Ins-ER 4.8000
---------------------------------------------- ----------- ----------- ----------- -----------
NY State Disability Insurance-EE 1.20
============================================== =========== =========== =========== =========== =========
Subtotal NY 1.20 1,548.01 1,549.21
---------------------------------------------- ----------- ----------- ----------- -----------
Local 0022 New York Cit 482.04
============================================== =========== =========== =========== =========== =========
Subtotal Local 482.04 482.04
============================================== =========== =========== =========== =========== =========
Total Taxes 1.20 0.00 23,435.10 4,044.99 27,481.29
===========================================================================================================================
Amount ADP Debited From Account 9417909587 Tran/ABA 021200339 27,480.09
Excludes Taxes That Are Your Responsibility
============================================================================================================
Other ADP Direct Deposit 39,544.05
16 Employee Transactions
Transfer ==========================================================================================================================
Amount ADP Debited From Account 9417909587 Tran/ABA 021200339 39,544.05
Wire Direct - Pay Date Minus 1 Business Days
====================================================================================================================================
Total Amount ADP Debited From Your Accounts 67,024.14
</TABLE>
================================================================================
ADP(R) Statistical Summary GRAND COURT-EXEC-NJ
Detail Company Code: JUK
Region Name: MIAMI REGION
Batch: 1105 Period Ending: 05/26/2000 Week 21
Quarter Number: 2 Pay Date: 05/25/2000 Page 2
Current Date: 05/22/2000
<PAGE>
S:\SHARED\BANKRUPT\SCHEDULE\USTRUST.WK4
Case Number: 00-32578(NLW)
Reporting Period: Month of May
Status of Postpetition Taxes
Boca Office
<TABLE>
<CAPTION>
Beginning Amount Ending
Tax Withheld Amount Date Check No Tax
Liability or Accrued Paid Paid or EFT Liability
--------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Federal
Withholding 0 34,327 34,327 5/12,5/25 see 0
FICA-Employee 0 11,106 11,106 5/12,5/25 bank 0
FICA-Employer 0 11,108 11,108 5/12,5/25 statement 0
Unemployment 0 0
Income 0 0
Other: 0 0
--------------------------------------------------------------------------
Total Federal Taxes 0 56,541 56,541 0 0 0
--------------------------------------------------------------------------
State & Local
Withholding 0
Sales 0
Excise 0
Unemployment 0
Real Property 0
Personal Property 0
Other 0
--------------------------------------------------------------------------
Total State & Local 0 0 0 0 0 0
--------------------------------------------------------------------------
Total Taxes 0 56,541 56,541 0 0 0
==========================================================================
</TABLE>
<PAGE>
S:\SHARED\BANKRUPT\SCHEDULE\CRCD.WK4
Case Number 00-32578(NLW) Form MOR-4
Grand Court Lifestyles, Inc.
Summary of Post Petition Debts
Reporting period: May 2000
<TABLE>
<CAPTION>
Number of Days Past Due
Current 0-30 31-60 61-90 Over 90 Total
-------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Accounts Payable 36,540 7,455 33,405 0 77,400
Accrued expenses 116,229 19,806 136,035
Taxes Payable 97,014 1,341 98,355
Other 210,985 605 11,131 222,721
-------------------------------------------------------------------
Total Post Petition Debt 424,228 37,145 39,733 33,405 0 534,511
===================================================================
</TABLE>
<PAGE>
Date: Jun 16 00 12:57pm GRAND COURT LIFESTYLES, INC. DIP Page
Open Payables - Detail by date
Calculate balance as of: May 31 00
Control account [ 8] to [ 8]
Vendor number [ ] to [zzzzzz]
Report group [ ] to [zzzzzz]
<TABLE>
<CAPTION>
Vendor Disc. Disc. Post. Original Current
Number Vendor Name Doc. Number Doc. Date Due Date Date Rate Reference Seq. Amount Amount
------ ---------------------- ----------- --------- -------- ---- ---- --------- ---- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
40PO ADP, INC.
IN 759653 May 12 00 May 12 00 759653 267 111.30 111.30
IN 767049 May 26 00 May 26 00 767049 267 147.10 147.10
--------
258.40
51PO AT&T
IN 2220201 May 15 00 May 15 00 2220201 267 224.55 224.55
--------
224.55
55PO AT&T
IN 52500 May 25 00 May 25 00 561 997 0323 267 20.39 20.39
--------
20.39
57PO AT&T
IN 51500 May 15 00 May 15 00 561 994 0932 267 16.18 16.18
--------
16.18
59PO AT&T
IN 50900 May 09 00 May 09 00 050900 267 6,876.23 6,876.23
--------
6,876.23
63PO AT&T
IN 7206463152 May 01 00 May 01 00 7206463152 267 886.34 886.34
IN 2206570 May 15 00 May 15 00 2206570 267 1,139.68 1,139.68
--------
2,026.02
150PO BELLSOUTH
IN 51600 May 16 00 May 16 00 561 994 0932 267 674.94 674.94
--------
674 94
160PO BELLSOUTH
IN 52600 May 26 00 May 26 00 561 997 0323 267 2,258.90 2,258 90
--------
2,258.90
48BPO AT&T WIRELESS SERVICES
IN 52900EG May 29 00 May 29 00 4/27-5/26 265 186.76 186.76
--------
186.76
520PO FEDEx
IN 7-933-06005 Apr 18 00 Apr 18 00 7-933-06005 219 7.57 7.57
--------
7.57
65BPO AT&T WIRELESS SERVICES
IN 52200DL May 22 00 May 22 00 052200DL 267 31.50 31.50
--------
31.50
690BP EDWARD J GLATZ
</TABLE>
<PAGE>
Date: Jun 16 00 12:57pm GRAND COURT LIFESTYLES, INC. DIP Page
Open Payables - Detail by date
<TABLE>
<CAPTION>
Vendor Disc. Disc. Post. Original Current
Number Vendor Name Doc. Number Doc. Date Due Date Date Rate Reference Seq. Amount Amount
------ -------------------------- ------------ --------- --------- ---- ---- ------------ ---- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
(Vendor 690BP continued)
IN 42800EG May 24 00 May 24 00 4/22-4/28 238 541.09 541.09
IN 50600EG May 24 00 May 24 00 4/28-5/6 238 437.33 437.33
IN 52000EG May 24 00 May 24 00 5/13-5/20 238 1,132.63 1,132.63
--------
2,111.05
1309BP NATIONWIDE COMPUTER
IN 1726 May 15 00 May 15 00 1726 267 143.10 143.10
--------
143.10
1450PO OFFICE TECHNOLOGY SUPPLIES
IN 51500 May 15 00 May 15 00 051500 267 1,527.98 1,527.98
IN 52300 May 23 00 May 23 00 052300 267 797.06 797.06
--------
2,325.04
1451PO OFFICE TEAM
IN 2757908 May 29 00 May 29 00 02757908 267 268.64 268.64
--------
268.64
1623BP PBCC
IN 3851848-MY00 May 14 00 May 14 00 3851848-MY00 267 833.81 833.81
--------
833.81
1850PO SUN SENTINEL
IN 51400 May 14 00 May 14 00 051400 267 1,307.80 1,307.80
IN 52800 May 28 00 May 28 00 052800 267 661.00 661.00
--------
1,968.80
1907PO STANDARD COFFEE SERVICE
IN 4146 11839 May 19 00 May 19 00 4146 11839 267 477 28 477.28
--------
477.28
2500BP ZEPHYRHILLS
IN E0004109500 May 24 00 May 24 00 E0004109500 267 328.50 328.50
--------
328.50
2585BP PITNEYWORKS
IN 52200 May 22 00 May 22 00 052200 267 2,382.19 2,382.19
--------
2,382.19
841BPO HIXSON MARIN POWELL &
IN 4403 May 22 00 May 22 00 04403 267 1,729.00 1.729,00
--------
1,729.00
842BPO IRON MOUNTAIN
IN 7526 A2 May 25 00 May 25 00 7526 A2 267 271.75 271.75
--------
271.75
843BPO IKON OFFICE SOLUTIONS
IN 12439589 May 22 00 May 22 00 12439589 267 625.75 625.75
--------
625.75
</TABLE>
<PAGE>
Date: Jun 16 00 12:57pm GRAND COURT LIFESTYLES, INC. DIP Page
Open Payables - Detail by date
<TABLE>
<CAPTION>
Vendor Disc. Disc. Post. Original Current
Number Vendor Name Doc. Number Doc. Date Due Date Date Rate Reference Seq. Amount Amount
------ ----------------- ----------- --------- -------- ---- ---- ---------- ---- -------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
895BPO IOS CAPITAL
IN 47735593 May 19 00 May 19 00 47735593 267 486.54 486 54
---------
486.54
990BPO INTERIM PERSONNEL
IN 4247032166 May 07 00 May 07 00 4247032166 267 678.75 678.75
---------
678.75
---------
Control account total ( 8) 27,211.64
---------
Total 27,211.64
=========
</TABLE>
25 vendor(s) printed.
<PAGE>
GRAND COURT LIFESTYLES, INC.
OPEN PAYABLE - POST PETITION - FT.LEE
AS OF 05/31/00
ACCOUNTS PAYABLE SUB-LEDGER 51,395.75
Less: Invoices paid to be removed from sub-ledger
05/23/00 Premium Financing Specialists (1,206.92)
---------
Accounts Payable Balance as of 05/31/00 50,188.83
=========
<PAGE>
Date: Jun 16 00 12:03pm GRAND COURT LIFESTYLES, INC. DIP
Open Payables - Detail by date
Calculate balance as of: May 31 00
Control account [ 6] to [ 6]
Vendor number [ ] to [zzzzzz]
Report group [ ] to [zzzzzz]
<TABLE>
<CAPTION>
Vendor Disc. Disc. Post. Original Current
Number Vendor Name Doc. Number Doc. Date Due Date Date Rate Reference Seq. Amount Amount
------ ----------------------------- ----------- --------- -------- ---- ---- ---------- ---- -------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
74PO AMERICAN SENIORS HOUSING ASSOC
IN 53100 May 31 00 May 31 00 053100 259 62.50 62.50
---------
62.50
98PO AT&T
IN 2215480 May 15 00 May 15 00 2215480 226 0.33 0.33
---------
0.33
101PO AUTOMATIC DATA PROCESSING
IN 767105 May 26 00 May 26 00 767105 243 93.36 93.36
---------
93.36
111PO AT&T WIRELESS
IN 52900 May 29 00 May 29 00 CYMES 248 101.73 101.73
---------
101.73
112PO AT&T LONG DISTANCE
IN 52200 May 22 00 May 22 00 2124721920 248 25.60 25.60
---------
25.60
1216P LUCENT TECHNOLOGIES - GEM
IN 2705652741 May 24 00 May 24 00 2705652741 241 274.46 274.46
---------
274.46
122PO AT&T WIRELESS SERVICES
IN 52200LD/JL May 22 00 May 22 00 4/20-5/19 236 101.69 101.69
---------
101.69
131PO AT&T WIRELESS
IN 53000 May 30 00 May 30 00 053000 248 760.53 760.53
---------
760.53
200PO BELL ATLANTIC-NJ
IN 52300 May 23 00 May 23 00 052300 243 1,150.00 1,150,00
---------
1,150.00
203PO BANK OF NEW YORK
IN AS59690 Apr 12 00 Apr 12 00 3/20-11/29 140 5,225.41 5,225.41
IN AS59694 Apr 12 00 Apr 12 00 SERIES A 140 5,102.46 5,102.46
IN AS60861 Apr 12 00 Apr 12 00 3/20-12/15 140 5,553.28 5,553.28
IN 120299RF9 Apr 12 00 Apr 12 00 3/20-7/19 140 2,500.00 2,500.00
---------
18,381.15
211PO BEE BUSINESS PRODUCTS, INC.
CN 58155-0 Apr 10 00 RETURN 149 8.46- 8.46-
IN 59039-0 May 19 00 Jun 18 00 59039-0 219 315.39 315.39
IN 59127-0 May 25 00 Jun 24 00 59127-0 243 65.91 65.91
</TABLE>
<PAGE>
Date: Jun 16 00 12:03pm GRAND COURT LIFESTYLES, INC. DIP
Open Payables - Detail by date
<TABLE>
<CAPTION>
Vendor Disc. Disc. Post. Original Current
Number Vendor Name Doc. Number Doc. Date Due Date Date Rate Reference Seq. Amount Amount
------ ---------------------------- ----------- --------- --------- ---- ---- ------------ ---- --------- --------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
(Vendor 211PO continued)
--------
372.34
315PO DANKA
IN 7338615 May 24 00 May 24 00 73386l5 243 712.06 712.06
--------
712.06
374PO THE DEPOSITORY TRUST CO.
IN 385379A0300 May 31 00 May 31 00 385379A0300 264 1,360.00 1,360.00
IN 385379B0300 May 31 00 May 31 00 385379B0300 264 15.00 15.00
--------
1,375.00
600PO FEDERAL EXPRESS CORP.
IN 7-885-91634 Mar 20 00 Mar 20 00 032000 252 216.98 216.98
IN 7-933-36035 Apr 25 00 Apr 25 00 042500 252 221.47 221.47
IN 646229244 May 03 00 May 03 00 646229244 219 480.74 480.74
IN 646229246 May 05 00 May 05 00 646229246 219 118.50 118.50
IN 646229247 May 10 00 May 10 00 646229247 219 294.06 294.06
IN 7-982-12845 May 15 00 May 15 00 7-982-12645 219 43.15 43.15
IN 646229250 May 17 00 May 17 00 646229250 219 229.22 229.22
IN 646229251 May 22 00 May 22 00 646229251 226 173.77 173.77
IN 7-982-42554 May 22 00 May 22 00 7-982-42554 236 85.89 85.89
IN 646229253 May 23 00 May 23 00 646229253 236 131.71 131.71
IN 646229254 May 24 00 May 24 00 646229254 236 77.78 77.78
IN 646229255 May 25 00 May 25 00 646229255 243 103.00 103.00
IN 7-98269460 May 29 00 May 29 00 052900 252 95.47 95.47
IN 646229256 May 30 00 May 30 00 646229256 243 50.81 50.81
--------
2,322.55
603PO FELDMAN SHERB HOROWITZ & CO.
IN 41100CC Apr 11 00 Apr 11 00 041100CC 269 2,500.00 2,500.00
IN 41100RFI Apr 11 00 Apr 11 00 041100RFI 269 1,500.00 1,500.00
IN 41100RFII Apr 11 00 Apr 11 00 041100RFII 269 1,500.00 1,500.00
--------
5,500.00
605PO FIRST UNION NATIONAL BANK
IN 70325 Apr 25 00 Apr 25 00 3/19-3/31 191 351.12 351.12
--------
351.12
1210PO JOHN LUCIANI
IN 52400JL May 24 00 May 24 00 052400JL 249 92.65 92.65
--------
92.65
1400PO NATIONAL CORPORATE RESEARCH
IN N013902-00 May 23 00 May 23 00 N013902-00 236 46.00 46.00
IN N013992-00 May 24 00 May 24 00 N013992-00 236 46.00 46.00
IN N014249-00 May 30 00 May 30 00 053000 252 36.00 36.00
--------
128.00
1406AP BELL ATLANTIC
IN 149 May 28 00 May 28 00 00149 258 50.68 50.68
</TABLE>
<PAGE>
Date: Jun 16 00 12:03pm GRAND COURT LIFESTYLES, INC. DIP
Open Payables - Detail by date
<TABLE>
<CAPTION>
Vendor Disc. Disc. Post. Original Current
Number Vendor Name Doc. Number Doc. Date Due Date Date Rate Reference Seq. Amount Amount
------ ----------------------------- ------------ --------- --------- ---- ---- ------------ ---- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
(Vendor 1406AP continued)
---------
50.68
1406BP BELL ATLANTIC
IN 149 May 28 00 May 28 00 00149 258 112.40 112.40
---------
112.40
1414PO NASDAQ STOCK MARKET, INC.
IN NA003760 Apr 12 00 Apr 12 00 COMMON STCK 140 14,706.79 14,706.79
---------
14,706.79
1570PO PR NEWSWIRE
IN 22229090 Mar 31 00 Mar 31 00 22229090 219 100.00 100.00
---------
100.00
1590PO PC CONNECTION, INC.
IN 53000 May 30 00 May 30 00 053000 248 209.85 209.85
---------
209.85
1600PO POLAND SPRING
IN E0013036140 May 12 00 May 12 00 E0013036140 219 184.00 184.00
---------
184.00
1602PO PERKAROMA
IN 58109 May 18 00 Jun 17 00 58109 219 44.52 44.52
IN 58789 May 22 00 Jun 21 00 58789 236 119.63 119.63
IN 58835 May 23 00 Jun 22 00 58835 236 44.52 44.52
IN 58874 May 23 00 Jun 22 00 58874 236 175.47 175.47
CN 70928 May 25 00 70928 243 44.52- 44 52-
---------
339.62
1608PO PITNEY BOWES, INC.
IN 690882 May 26 00 May 26 00 690882 258 195.98 195.98
---------
195.98
1616PO PBCC
IN 2103265-MY00 May 24 00 May 24 00 2103265-MY00 236 308.84 308.84
---------
308.84
1623PO PREMIUM FINANCING SPECIALISTS
IN MAY2000 May 23 00 May 23 00 WORKERS COMP 121 1,206.92 1,206.92
---------
1,206.92
1804PO EUGENE SANDERS
IN 52600ES May 26 00 May 26 00 3/2-4/30 237 357.07 357.07
---------
357.07
1902PO EXPERIAN
IN 52700 May 27 00 May 27 00 3/30/00 241 75.00 75.00
---------
75.00
716FPO GE CAPITAL
</TABLE>
<PAGE>
Date: Jun 16 00 12:03pm GRAND COURT LIFESTYLES, INC. DIP
Open Payables - Detail by date
<TABLE>
<CAPTION>
Vendor Disc. Disc. Post. Original Current
Number Vendor Name Doc. Number Doc. Date Due Date Date Rate Reference Seq. Amount Amount
------ ----------------------------- ------------ --------- --------- ---- ---- ------------ ---- --------- ---------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
(Vendor 716FP0 continued)
IN 52103542 May 17 00 May 17 00 52103542 241 1,689.00 1,689.00
---------
1,689.00
8121PO STAPLES
IN 51300 May 13 00 May 13 00 4/24-5/13 219 54.03 54.03
---------
54.03
---------
Control account total ( 6) 51,395.75
---------
Total 51,395.75
=========
</TABLE>
32 vendor(s) printed.
<PAGE>
Date: Jun 16 00 12:02pm GRAND COURT LIFESTYLES, INC. DIP
Trial Balance
Trial Balance as at May 31 00
Print Trial Balance from account [203060] to [203060]
for department [ ] to [zzzzzz]
for the YTD fiscal period ending [ 4]
with the report sorted by (Account )
(Include) accounts with no activity.
Trial Balance
Acct. Dept. Description Debits Credits
------ ------ -------------------------------------- ------------- ---------
203060 A/P - POST PETITION FT LEE 50,188.83
------------- ---------
0.00 50,188.83
============= =========
1 account printed.
<PAGE>
For MOR-5
Grand Court Lifestyles, Inc.
Case Number 00-32578(NLW)
Reporting Period - May 2000
Debtor Questionaire
Yes No
--------------------------------------------------------------------------------
1. Have any assets been sold or transferred outside the normal
course of business this reporting period? If yes, provide an
explanation below. X
--------------------------------------------------------------------------------
2. Have any funds been disbursed from any account other than a
debtor in possession account this reporting period? If yes,
provide an explanation below. X
--------------------------------------------------------------------------------
3. Have all postpetition tax returns been timely filed? If no,
provide an explanation below. X
--------------------------------------------------------------------------------
4. Are workers compensation, general liability and other
necessary insurance coverages in effect? If no, provide an X
explanation below.
--------------------------------------------------------------------------------
Explanation to question 1:
Write-off of receivables relating to two senior living communities
whose mortgages went into default in March 2000.
Write-off of a multi-family receivable relating to a property whose
mortgage has been in default
