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SAK DEVELOPMENT: Case Summary & Five Largest Unsecured Creditors

Troubled Company Reporter, June 20, 2007

Debtor: SAK Development, Inc.
        3280 Charles Boulevard, Suite A
        Greenville, NC 27858

Bankruptcy Case No.: 07-02215

Type of Business: The Debtor's affiliate, American Constructors of
                  North Carolina, Inc., filed for Chapter 11
                  protection on June 6, 2007 (Bankr. E.D. N.C.
                  Case No. 07-02083).

Chapter 11 Petition Date: June 18, 2007

Court: Eastern District of North Carolina (Wilson)

Debtor's Counsel: Trawick H. Stubbs, Jr., Esq.
                  Stubbs & Perdue, P.A.
                  P.O. Box 1654
                  New Bern, NC 28563
                  Tel: (252) 633-2700
                  Fax: (252) 633-9600

Estimated Assets: $1 Million to $100 Million

Estimated Debts:  $1 Million to $100 Million

Debtor's List of its Five Largest Unsecured Creditors:

   Entity                                   Claim Amount
   ------                                   ------------
Hanover Design Services                          $35,001
1123 Floral Parkway
Wilmington, NC 28403

Whirlpool Corporation                            $31,118
c/o Eric Biesecker, Esq.
P.O. Box 3463
Greensboro, NC 27402

Millenia Bank                                    $25,000
1310 West Arlington Boulevard
Greenville, NC 27834

Garris Evans Lumber Co.                          $21,757

Southern Environmental                            $3,149

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