January 17, 2003

Dive Roatan

Paya Bay Beach Resort

Bay Island, Honduras

Joe Murray

via email: joe@dive-roatan.com

Dear Joe,

It gives me great pleasure to accept Dive Roatan/Paya Bay Beach Resort into the Reef Ball Foundation’s Grant Program. We believe by placing a reef closer to shore, you will take pressure off the natural exhisting reef and the Reef Ball reef will provide new habitat for the island.

As requested you are eligible to purchase Bay Ball and Lo Pro Ball Mold Kits at the non-profit discount as well as coral transplant kits. We ask that they only be used within your organization unless otherwise approved. Additionally, we require a monitoring program-two video updates per year for three years and please send us any press/newsletters relating to the Reef Balls. Please see our website for more information about grant requirements at www.reefball.org.

We are excited about our new partnership with Dive Roatan/Paya Bay Beach Resort. Please contact me or Todd Barber if you have any further questions. We look forward to working with your organization.

Sincerely,

Katherine Kirbo

Executive Director,

The Reef Ball Foundation

kathy@reefball.com