Cal-Bay International Inc (CBYI)

[DoDahMan]

SO CBAY has $47.7M in assets and we are just awaiting them to be thawed out?

Thanks for your thoughts!

Cal-Bay International, Inc. (Pink Sheets: CBAY.PK) announces the company's current property portfolio holdings as of June 12, 2007.

The valuations are based on management's assessment of current
comparable properties and appraisals where applicable:

Portfolio Asset Value: $47.7M

Aspen Cove Resort, UT
40+ Acres prime residential development property and operational
lakefront lodge.
Management valuation based on comparative lot sales:

Las Vegas Residential Rental Portfolio:
Based on Market appraisals at time of purchase:

Texas Recreational Sports Facility, Dallas, TX:
Appraisal.

Stonewal Estates First Trust Deed, FL
Legal recovery currently

North County, California, 3+ Acres
Approximate equity position to Cal-Bay: $18.5M