bility which we have programmed for it we believe that our lot sales will improve during the next year as pauma is recognized as one of the prime quality recreation communities in california it offers to an increas ing membership an ideal location near to the major metropolitan areas of southern california a unique climate and unparalleled service in 1968 our model home program was continued eight new model cottages and one new model residence were built three of these have been sold or are in escrow some before completion earlier eight condominium units were built and sold as part of the model home program personnel during the year a number of organizational and managerial changes were made mr alexander m wilson was elected executive vice president and became a member of utah's board of directors and executive com mittee in his new position he is responsible for all domestic and foreign operations of the company including mining construction and land development and reports to the president and general manager mr edwin c de moss vice president was promoted to manager of the mining division succeeding mr wilson mr john s anderson vice president is now responsible for all domestic mining operations and northeast of san diego at the base of mt palomar is pauma valley a unique leisure around an 18-h.ole golf course and clubhouse residential property fronting the fai mr keith g wallace is in charge of australian mining operations mr boyd c paulson was elected vice president and will continue to act as assistant manager of operations in the construction division the year 1968 recorded significant accomplishments for utah achieved by the skills enthusiasm and tireless efforts of the people who make up utah construction & mining co they made the year most successful in both qualitative and quantitative terms we are confident that we possess the organization and assets with which this success can be continued we look forward to meeting the challenges and opportunities which 1969 will bring sincerely 5 chairman of the board president and general manager