ROBERT M. MC SHERRY, MAI Administrative Services 3760 Chelsea Drive Baton Rouge, Louisiana 70809 Phone (504)924-8093 January 15, 1999 Mr. Bill Martin, III MMR Investment Bankers P.O. Box 781440 Wichita, Kansas 67278-1440 RE: Biltmore Group, L.L.C. Dear Mr. Martin: This letter is to acknowledge permission for Biltmore Group, L.L.C. and MMR Investment Bankers to copy or reproduce the Summary Appraisal Report of the proposed 22 assisted care units and 5 efficiency unit assisted care facility and to be constructed on LA Highway 1 Bypass within the corporate limits of Natchitoches, Natchitoches Parish, Louisiana, 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