Editor’s Note: The Tennessee Walking Horse Breeders and Exhibitors Association posted the following letter on their website with the results from the election which were counted yesterday by the CPA firm, Cook & Co. This letter was sent from Cook & Co to the TWHBEA.

October 17, 2007

TWHBEA

P.O. Box 286

250 Ellington Parkway

Lewisburg, TN 37091

RE: 2007 Annual Board of Directors Election and Proposed By-Law Changes

TWHBEA

The purpose of this letter is to report the results of the annual election. We mailed 16,603 ballots and postage-paid return envelopes. The U.S. Postal Service returned 35 of our mailings as “undeliverable.” We received 4,743 ballots by return mail (28.6%). Four (4) of the returned ballots were disqualified and not counted due to noncompliance with balloting instructions (4,743 – 4 = 4,739).

Executive Summary:

By-Law Amendment #1 & 2
FAILED
For: 1500
Against: 2988
Abstained: 251

By-Law Amendment #3 & 4
FAILED
For: 1516
Against: 3078
Abstained: 145

By-Law Amendment #5
FAILED
For: 1713
Against: 2896
Abstained: 130

By-Law Amendment #6
FAILED
For: 1730
Against: 2870
Abstained: 139

By-Law Amendment #7
FAILED
For: 1650
Against: 2935
Abstained: 154

By-Law Amendment #8
FAILED
For: 1420
Against: 3179
Abstained: 140

Three-Year Term Directors:

Alabama (1)
Dee Cantrell 168
Alternate:
Suzanne Littell 86

Arizona (1)
Beverly J. Best-Brown 17
Alternate:
None

California (1)
Frances Cole 81
Alternate:
Russ Thompson 53

Colorado (1)
Lisa A. Dicamillo 28
Alternate:
Helen Kellogg 1

Georgia (2)
Mike Inman 222
Dr. Linda Jones 172
Alternate:
Jane Hardy Meredith 72
Donald K. Godbee 58

Kentucky (3)
Sam L. Sorrell 272
Jennifer Hankins 257
Blair Campbell-Knight 183
Alternate:
David W. Thompson 181
Karen Rector 163
Wallace H. Carrier, Jr. 126

Maine (1)
James Webb, Jr. 4
Alternate:
None

Minnesota (1)
Mary C. Malone 25
Alternate:
None

Mississippi (1)
Joe D. Rankin 127
Alternate:
William “Sonny” Wadsworth Jr. 93

Missouri (1)
Anne M. Hardin 91
Alternate:
Anita Howe 55

New Jersey (1)
Victoria L. Chatten 10
Alternate:
Robert B. Medina 5

North Carolina (1)
Clay Mills 79
Alternate:
Lind L. Roy 51

Ohio (2)
Tracy Weier 118
Debra A. Matson 112
Alternate:
Paul Whitehead 88
Bruce Vaughn 86

Oregon (1)
David Green 33
Alternate:
Diane Gueck 1

Pennsylvania (1)
Linda McCrillis Chovan 50
Alternate:
Daniel J. Rowsick 42

Tennessee (4)
Charles Gleghorn 713
Freda R. Dean 514
David Pruett 435
Rollie T. Beard 427
Alternate:
Lisa Bowman Anderson 394
Dr. William L. Russell 323
Nicki B. Wall 211
Beverly Greenup 191

Texas (2)
Nancy Groover 117
Mrs. Stanley (Margo) Urad 106
Alternate:
Dorothy Speece 83
Joan Niece 78

Utah (1)
Leslie Topham 36
Alternate:
Nancy K. Lovato 11

Virginia (1)
Connie G. Hess 68
Alternate:
Sandra Hankins 57

Washington (1)
Bruce Chalfant 58
Alternate:
Kirk D. Peters 26

West Virginia (2)
Dr. David Ranson 62
Harrolyn B. Groves 57
Alternates:
Barbara Foster 1
Jeffrey Tanner 1
Larry McLaughlin 1
George Facemyer 1

Wisconsin (1)
Kim M. Sizer 45
Alternate:
Kim L. Leonard 16

Region #4 (1)
Dianne Lashoones 10
Alternate:
Judith W. Shapiro 3

Region #5 (1)
Debra Y. Moore 9
Alternate:
None

Region #6 (1)
Debra Jack 2
Alternate:
None

Region #7 (1)
Kimberly Anne Pringle 3
Alternate:
None

In accordance with our Engagement Letter dated July 13, 2007, this is our Report certifying the 2007 election results for TWHBEA Board of Directors and Proposed By-Law Changes.

For the Firm:
Cook & Co
Gregory J. Cook, EA, CPA