NATAL FONE: 55 84 3086-4366 CELL 9952-0658

FULL CORPORATE OFFER FOR THE SALE OF “ A BEACH HOTEL IN NATAL – BRAZIL ”

Localization: NATAL/RN – BRAZIL ;

The “ TANGAROA PRAIA HOTEL” is being offered for sale according to the following terms and conditions:

Product: HOTEL INSTALLATIONS AND FACILITIES “AS IT IS” (ACTUALLY DEACTIVATED) WITH A TOTAL OF 66 ROOMS. – THE ORIGINAL BUILDING IT HAS THE FOLLOWING CHARACTERISTICS:

Total land lot areas = 22.240,00 M2 with 160 meters in front of sea.

The hotel, is actually deactivated and a new project to rebuild and re inaugurate has already been fully approved.

The new project to rebuilt has the following characteristics:

Encrease the operational capability to a total of 123 Standard Suites, plus 2 suites with hydro massage in the front side verandas, plus 2 suites with living room, plus 9 bungalows in colonial style palafited making a total of 136 operational unit SUITE rooms.

A separate offer proposal can be also negotiated to sell the virgin land lots existing on the left side of the hotel which may be used to have easiest access by the lateral edge to complete a front line of increased 170 meters of beach sand access directly in front of the sea.

Although the existing new project has already been fully developed and officially approved by the related entities to the current seller, the new owner will of course make their tender offer to purchase only on the actual existing installations “as it is”. And after complete the transaction then he may install his own project.

Target Price: R$ 6.500.000 (Six million Five Hundred Thousand Reais – R$) or equivalent in Euros or USD$ on the date of closing transaction contract.

Procedures:

1 – Intended Buyer makes a Proforma Offer and will confirm their interest by planning a visit to the hotel for personal evaluation by sending back, on his own letterhead a letter signed and registered, to the S.P.E.C.S. office in Natal.
2 – After the evaluation visit takes place, the intended buyer will then make us his counter-offer as an evidence their acceptance, and enable us to set up a working meeting with the seller in order to ascertain the end price and start the documentory process.
3 – Upon registration of an accepted end price; fully agreed and mutually ascertained between both parties; means the buyer will be obliged to pay a caution (deposit) of a minimum of 10% of the total amount.

- This done, the contract will be entered into a public Notary Office as the current law requires, in order to enable the seller to provide:

a) release of existing documents of ownership and accountable balance sheets and other relevant information presented of the property currently being sold.
b) the transference of the ownership to the new owner name with all related federal, state and municipal entities licensed related to the good and necessary function of said hotel.