May 2, 2002

VIA FACSIMILE

Senator Dean E. Johnson
Co-Chair Ballpark Conference Committee and
Representative Harry Mares
Co-Chair Ballpark Conference Committee
State Capital
St. Paul, MN 55155

Dear Senator Johnson and Representative Mares:

Last night, Jerry Bell forwarded me a copy of your April 25 letter to him and his May 1 reply. While I have no desire to enter the political fray in Minnesota over the ballpark funding legislation for the Twins, I do have an interest in protecting my good name and reputation now that the Twins have thrown me into the political mix.

Mr. Bell's letter suggests, by innuendo, that I do not have "adequate resources" to consummate a purchase of the Twins, and that the Twins have dealt with me in a "responsible and reasonable manner". Mr. Bell's letter appears to be self-serving. As such, this letter is sent to you to set the record straight.

On February 11, 2002, I submitted to Jerry Bell a detailed written proposal to purchase the Minnesota Twins Baseball Club and construct a new ballpark. Included in the proposal was my MLB financial net worth disclosures form prepared for me by one of the few investment bankers in the nation who holds all four principal designations (licenses) in investment banking, plus a CPA license. My asset pool, which is private and proprietary, is described in great detail on my disclosure form. These assets are strong, and capable of monetization expeditiously. They enable me to pursue MLB acquisition opportunities much larger than the Twins deal.

To date, the Twins have not asked me or my advisors one question about the comprehensive and detailed financial information listed on my MLB financial disclosure form. They have never asked me for the underlying asset valuation data. They have not contacted the various privately held partnerships that hold the vast majority of my wealth. In short, there has been no dialogue with the Twins concerning my financial capacity to buy their team, and no negotiation sessions.

While my proposal for buying the Twins remains on the table, I have focused my time and resources on the purchase of another MLB team. This team has a purchase price substantially greater than the one I offered the Twins. I am represented in this current acquisition effort by the top law, investment banking and CPA firms in the world. We have made solid progress in my efforts to become a team owner. During a two-week period in April, we were able to obtain letters from two respected investment banking firms arranging the first $200 million needed for the acquisition of this team. We have fulfilled every request for information and met every deadline imposed by the team's owner. It is obvious to me that I am currently dealing with a willing owner/seller who has a serious interest in negotiating a deal in good faith.

I did not want to get involved in a political debate, but my credibility is important to me. It allows me to consummate business acquisitions all over the world. I have worked long and hard to build a solid reputation as a respected businessman. I will not allow it to be stained by anyone seeking to hoodwink the Minnesota Legislature.

Please make this letter part of the legislative record before your committee.

Sincerely,

Donald V. Watkins