Item 7.01 Regulation FD
On September 26, 2008 the Company received notification that its City of
Montgomery, AL Series 1997 Industrial Revenue Bonds with an approximate balance
of $995,000, were tendered by various bondholders. These bonds were backed with
a Letter of Credit from Regions Bank. Under the terms of the Letter of Credit,
Regions Bank is obligated to pay the bondholders. As a result, the Company will
be obligated under this replacement note to Regions Bank in the amount of the
tendered bonds with interest at the rate of Regions' prime rate plus 2 percent
until the bonds are remarketed. There has been no default on these bonds. It is
our understanding that this tender was the result of liquidity needs of the
various bondholders.
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