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PRESS RELEASE

David Simister, Chairman, CB Richard Ellis, Thailand - South China Morning Post - High Net Worth Supplement 1 June 2007 (01 Jun 2007)

SOUTH CHINA MORNING POST -- HIGH NET WORTH SUPPLEMENT JUNE 1 BY DAVID SIMISTER,
CHAIRMAN, CB RICHARD ELLIS, THAILAND

1) What is the attraction of the Royal Phuket Marina to high-net worth investors?
IT IS THE BEST MARINA/RESIDENTIAL SCHEME IN PHUKET IN A GREAT LOCATION. IT IS ALSO THE LAST CHANCE TO FRONT THE MAIN BASIN.

PHASE ONE, WHICH INCLUDED 66 CONDOS HAVE ALL SOLD AND IN SOME CASES HAVE SEEN CAPITAL GROWTH OF UP TO 100%, THEREFORE ITS TRACK RECORD SPEAKS VOLUMES.

2) Do high-net worth individuals tend to invest in luxury properties, which have a demand because of location or properties where they can see a quick return on investment?
GOOD INVESTMENTS ARE WHERE THERE IS b DEMAND AND IN DESIRABLE LOCATIONS THESE FACORS DRIVE UP THE PRICE THUS CREATING CAPITAL APPRECIATION. NOT SHORT TERM QUICK RETURNS BUT b APPRECIATION BOTH POST LAUNCH AND ALSO IN THE MEDIUM TERM.

3) What are a few things investors should consider before investing in property such as the Royal Phuket Marina?

1. THINGS TO CONSIDER INCLUDE THE EXISTING COMPLETED INFRASTRUCTURE -- THE OUTER MARINA ALREADY CONSTURCTED; IT'S NEAR GOLF COURSES, A HOSPITAL AND SCHOOLS; RETAIL STORES ARE LOCATED ON SITE AS WELL AS A SPA THAT OPENED EARLIER THIS YEAR.
2. THE PAST PERFORMANCE WHICH IN THE CASE OF THE PHASE ONE DEVELOPMENT IS COMPLETELY SOLD AND SALES HAVE DEMONSTRATED SIGNIFICANT INCREASES IN VALUE.
3. PRIME LOCATION -- ROYAL PHUKET MARINA IS LOCATED IN A PRIME POSITION ON THE EASTERN SEABOARD.
4. OWNERS CAN GAIN RENTAL INCOME DURING THE PERIODS THEY ARE NOT THERE AND ARE ABLE TO USE THEIR PROPERTIES FOR AS MUCH OF THE YEAR AS THEY LIKE, UNLIKE MANY OF THE RESORT VILLA OWNERSHIP ARRANGEMENTS.

4) How does investing in property compare to other types of investments and why is investing in property such as the Royal Phuket Marina popular?
PHUKET REAL ESTATE HAS FOR VIRTUALLY ALL EXISTING BUYERS BEEN ONE OF THEIR MOST SUCESSFULL INVESTMENTS EVER. Purchasers here have virtually all enjoyed 50-100% capital appreciation and this factor coupled with a lifestyle to rival any worldwide resort has promoted continued interest in this destination. IN SHORT THERE IS CONTINOUS GLOBAL DEMAND AND FINITE SUPPLY AND ROYAL PHUKET MARINA IS A UNIQUE SCHEME IN A UNQUE ISLAND.

PHUKET IS ASIA'S PREMIER RESORT ISLAND WITH AN UNBEATABLE "TOM yAM YUNG" APPEAL NOT MATCHED BY OTHER DESTINATIONS. PHUKET WAS ALSO RECENTLY VOTED ASIA'S MARITIME CAPITAL AND ROYAL PHUKET MARINA CERTAINLY PLAYED A LARGE ROLE IN PHUKET GAINING THIS ACCOLADE.

5) How, and why and in fact do luxury properties hold their price when there is a downturn in a property market?
THIS IS BECAUSE THEY ARE QUALITY PROPERTIES IN HIGHLY DESIRABLE LOCATIONS WHICH ARE IN SHORT SUPPLY.  THAILAND AND PHUKET'S MARKET HAS RARELY DROPPED - EVEN POST TSUNAMI OR ECONOMIC CRISIS. BUYERS HAVE LARGE PERSONAL EQUITY IN THEIR HOMES AND THEREFORE THE MARKET IS NOT DEPENDANT ON BORROWINGS AND SO BUYERS CAN HOLD AND AVOID SELLING IN ANY GENERAL DOWN TURN. CBRE HAVE ONLY SEEN PHUKET GROW BACKED BY AN EVER INCREASING GLOBAL DEMAND.