MESSAGE FROM THE PRESIDENT

Joe McAdams - President, Equity LifeStyle Properties

I have decided to retire as President of Equity Lifestyle Properties Inc. I am not retiring in the true sense of the word, but simply reducing my involvement with the day-to-day operations of the company. However, the plan for me is to stay connected to the world of the outdoor lifestyle that I have grown to love and so I will continue on in the role as President of RSI, handling our ancillary business lines.

The timing of my announcement is bittersweet. The industry weathered a few tough years but I think I can safely say that I am confident that we have emerged stronger. This past year the RV world recognized a huge milestone with its centennial celebration. I am so proud to have been part of an industry that continued to evolve and innovate as the times and desires of its customer changed. I think the future holds so much promise. And I will be watching (and smiling proudly) as the RV and camping lifestyle continues to attract more and more of us.

As I said, I am confident that the industry is stronger, but I am also confident of the direction that ELS is taking. You are in good hands. Tom Heneghan will re-assume the role of president of the company.

To that end, as the company's president, Tom Heneghan will author this monthly message. Regular TrailBlazer readers will remember "meeting" Tom in the January/February 2009 issue as he explained the business of ELS and some of the goals for Thousand Trails.

I can't say enough about Tom and his innate ability to recognize what our customer is looking for as well as his knack for keeping ELS poised and ready for the changing needs of those same customers. He has more than 15 years in the industry, starting with ELS in 1995 as Chief Financial Officer and for the last six years has served as our Chief Executive Officer.

Since 2006 when ELS and TT began our relationship, I have never questioned Tom's direction of this company. Believe me when I say he knows what he's doing. Someone once remarked that Tom "has the wisdom of a man twice his age and the energy of a man half his age." Like I said, you’re in good hands.

So, I will not say goodbye, but instead, I'll be seeing you. Save me a seat next to the campfire, won't you!