678 luxury flats, 3 commercial centres, 1 business tower in the heart of Bucharest Business Centre. Extravagant suspended gardens , location by the lake , excellent facilities and especially the attractive price make this development a MUST HAVE in every investors portfolio. This is an incredible investment, with a finance plan designed for the investors who seek High Capital gains (265%) and High Rental Yields (16.4%) . Location and facilities make for easy sale locally, providing an ideal exit strategy.DUE DILIGENCE Planning permission- obtained; Construction started (early stages); Builder Rotary Construct one of the main players in Romania with excellent tracking record; Financing bank BCR the biggest bank in Romania; Mortgage and other financing options available (for residents and non-residents). Why invest in Bucharest High unsatisfied demand for residential properties (estimates of 300,000 units in demand and, according to National Statistic Office only 6,746 units were delivered in 2007). Local migration to Bucharest for the better-paid jobs (adds more pressure to the residential/rental demand). Major Multinationals (Microsoft, IKEA,etc) establish headquarters in Bucharest (creates a demand for business rental). Prices on new build are still cheaper than the old communist flats; SEE MARKET ANALYSIS CASE STUDY BELOW. Major investments in the infrastructure (Romania will receive 30billion EU investment between 2007-2012). Low cost carriers flights are available from major UK airports (Wizz Air, Blue Air, Easyjet). Why invest in Belvedere - Baneasa Excellent payment plan (as little as 10% initial capital requirements); Exit plan (re-sell opportunities through our Romanian company before or after completion); Brilliantly located in the North within the heart of Bucharest Business Centre with existing infrastructure; Excellent leisure facilities within the complex and around Herastrau Lake, tennis, carting, restaurants and clubs; Excellent transport links underground station, and easy car access to both central city and the motorway network; Proximity to major employment opportunities for professionals ensures rental income; Major retail centres within 1mile radius (Baneasa City Shopping); Recreational areas in close proximity (onsite lake and park); Easy access to the mountain ski resorts (1h30min drive); Proximity to Bucharest Zoo. Development summary: 4 blocks of flats/678 luxury apartments by the lake (7ha development);High-standard interiors with large terraces or individual suspended gardens for each apartment ;Onsite Facilities: Business tower(28 floors glass building); 3 on-site commercial centres; Underground parking (1180 places); Medical and beauty centre; Gym Sport football court; Kinder garden and after-school; Covered/uncovered pool; Restaurants; Water sports facilities on the onsite lake; Large park Good transport links underground station, and easy car access to both central city and the motorway network.Nearby Proximity Facilities: (1 mile radius) Herastrau Park (Bucharest Main Park); Baneasa Forest - (Popular leisure area); Diplomatic Club (exclusive club that has the only golf course within Bucharest, Tennis, Swimming pool) Bucharest Zoo; The Village Museum (one of the biggest tourist attraction in Bucharest) Frateli and Bamboo Clubs (Bucharest most famous clubs); Major retail centres within 1mile radius (Baneasa City Shopping);Commercial:Baneasa City Shopping, Selgros, Metro, Bricostore, Carrefour, Ikea, Feeria Only 10 minutes drive away from the city centre Business: Bucharest Business Centre,Romexpo- the exhibition centre, Casa Presei Libere Baneasa Airport Payment Plan:Payment 1- 10% - when you sign the contractPayment 2- 20% - a year later (financing available for the financing bank - BCR)Payment 3 70% - 15.05.2011 (mortgage available including non-residents) Local Market AnalysisBucharest (Baneasa-Pipera area) (Communist

Why invest in Bucharest? (Capital city) ? High unsatisfied demand for residential properties;(estimates of 300,000 units in demand and only 1,800 units delivered in 2007). ? Local migration to Bucharest for the better-paid jobs (adds more pressure to the residential/rental demand). ? Major Multinationals (Microsoft, IKEA,etc) establish headquarters in Bucharest (creates a demand for business rental). ? Prices on new build are still cheaper than the old communist flats; SEE MARKET ANALYSIS BELOW. ? Major investments in the infrastructure (Romania will receive ?30billion EU funding between 2007-2012). ? Low cost carriers flights are available from major UK airports (Easyjet, Ryanair). Why invest in "Belvedere Baneasa"? -Excellent payment plan (as little as 10% initial capital requirements) -Exit plan (re-sell opportunities through our Romanian company before or after completion) -Brilliantly located in the North within the heart of Bucharest Business Centre with existing infrastructure. - Excellent leisure facilities within the complex and around Herastrau Lake, tennis, carting, restaurants and clubs -Excellent transport links underground station, main bus links,and easy car access to both central city and the motorway network. -Proximity to major employment opportunities for professionals ensures rental income -Major retail centres within 1mile radius(Baneasa City Shopping) -Recreational areas in close proximity (onsite lake and park) -Easy access to the mountain ski resorts (1h30min drive) Facilities within the Development -4 blocks of flats/678 luxury apartments by the lake (7ha development) -High-standard interiors with large terrace and individual suspended gardens for each apartment -3 on-site commercial centres -Business tower(28 floors glass building) -Underground parking (1180 places) -Medical and beauty centre -Gym -Kinder garden and after-school -Covered/uncovered pool -Sport&football court -Restaurants -Water sports facilities on the onsite lake -Recreation on the onsite park Payment Plan: 4 different options are offered for payment: Option 1 -10% initial deposit -20 % a year later (finacing available for the financing bank - BCR) -70% -15.05.2011 (mortgage available including non-residents) Local Market Analysis?Bucharest (Baneasa-Pipera area) (Communist era flats v new builds) 1)Pricing of existing communist era flats one bedroom apartment (equivalent to 2 rooms apartment in Romania) in the Baneasa average ?140,000 for a 58sqm net area (including balcony).So they can be compared with the new build, the above price needs to be transformed into ?/ sq metre built +Vat.After the calculations, the equivalent of the above price is approximately : 1810 ?/sqm + VAT (VAT = 19%) Q: How was the average price obtained? A: average price taken from www.anuntul.ro (main property search engine in Romania) 2) Pricing ? Belvedere Baneasa? (VAT = 19%) - Building 1 ? starting from only 1,330 ?/sq meter built +Vat - Building 3 ? 15% increase from Building 2 - Building 2 ? 15% increase from Building 1 - Building 4 ? 15% increase from Building 3 Q: Why is the property cheaper at the start of the development and then it goes up in value? A: As a developer, in order to get a better deal with the financing bank, we need to have a certain level of interest in the early stages of the project. Because of that, the first few apartments we sell almost at cost. To ensure our profitability, we increase the price towards the completion of the development, when it can easily be absorbed by the local demand. Conclusion: Our apartments are currently 17.5% cheaper than the thirty year old, dilapidated communist era properties. Because you initially invest only 10% deposit, this means you may have a 175% return on you