Robert M. McSherry, MAI Administrative Services 3760 Chelsea Drive Baton Rouge, Louisiana 70809 Phone (504)924-8093 January 22, 1999 Mr. Bill Martin, III MMR Investment Bankers P.O. Box 781440 Wichita, Kansas 67278-1440 RE: Biltmore Group of Louisiana, LLC Dear Mr. Martin: This letter is to acknowledge permission for Biltmore Group of Louisiana, L.L.C. and MMR Investment Bankers to copy or reproduce the Summary Appraisal Report of the existing 28 independent living units located at 78 Canyon Diable, Sedona, Arizona, dated January 10, 1999, for use with investors and in the Registration Statement on form SB-2 pursuant to Regulation SB. Please note that this appraisal contains a number of conditions upon which the value is based and these conditions must be made a part of any correspondence affecting the subject property. Respectfully, /S/ROBERT M MCSHERRY Robert M. McSherry, MAI RMM:je