Vineyard National Bank Preferred (fka VNBAQ)

[garza]

RE: Six Flags Preferred---

The Company reiterated the alternatives it has available to address the August 15, 2009 mandatory redemption of the Preferred Income Equity Redeemable Shares ("PIERS"). Subject to potential Delaware law restrictions on dividends and redemptions, these alternatives include a refinancing, exchange or extension of the PIERS, as well as the use of an uncommitted optional term loan, asset sale proceeds and New Orleans insurance claim proceeds. The Company continues to have discussions with PIERS holders regarding potential PIERS restructuring alternatives.

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