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PRESS RELEASE

Royal Phuket Marina's Unique Aquaminium Penthouses Sell for a Record Price (21 May 2007)

Phase Two Underway Following Successful Sales of Phase One

Both triplex 'Aquaminium' penthouses, with private yacht berths incorporated into the design of the condominium, sold for more than US$2 million - a record breaking price for Phuket - at the Royal Phuket Marina sales exhibition held at the Four Seasons Hotel, Hong Kong this weekend, May, 18-20.

The triplex penthouses, which are the most desirable units in the world's first Aquaminium, were bought by two European bankers. The successful sales event saw a further six reservations made for properties at the marina.

"The fact that we sold the most highly priced units in the Aquaminium so quickly demonstrates the desirability of this completely unique product," said Mr. Gulu Lalvani, owner and developer of the marina. "Investors are clearly looking at the success of our Phase 1 development where re-sales are producing capital appreciations of up to one hundred per cent," he added.

David Simister, Chairman, CB Richard Ellis Thailand and sales agent for the Hong Kong launch commented: "Phuket real estate has, for virtually all buyers, been one of their most successful investments ever. This fact coupled with a lifestyle to rival any worldwide resort has promoted continued interest and Royal Phuket Marina offers something completely unique in a highly desirable part of the world."

Thailand's 'paradise island' of Phuket earned the accolade of 'Asia's Maritime Capital' at the annual Christofle Asia Boating Awards held in Bangkok in April, putting Phuket firmly on the map of international yachting. Royal Phuket Marina played a large part in Phuket achieving this award.

Royal Phuket Marina's Aquaminium is a pioneering concept and the world's first condominium to feature private boat-berths within the residence itself. The property comprises three buildings and offers investors varying unit types including triplex and duplex penthouses, and two and three bedroom condominiums, and offers one of the world's most unique investment opportunities.

The eight Royal Villas, the most prestigious homes available at Royal Phuket Marina, open onto sweeping views of the Mediterranean-style marina with its profusion of luxury yachts and boardwalks.

These grand residences which have been designed in classic Thai style, blend seamlessly with the resort-inspired surroundings of the marina. Expansive outdoor terraces come with a private swimming pool with built-in Jacuzzi at one end and at the other, a traditional Thai-style sala which overlooks a private boat berth.

Royal Phuket Marina, Thailand's first world-class luxury lifestyle marina community, rivalling top resort communities in Europe and the Caribbean, is located on Phuket's up-and-coming eastern seaboard overlooking scenic Phang Nga Bay.

The Marina is being developed by telecom tycoon Gulu Lalvani, the founder of Binatone, the world's second largest manufacturer of digital cordless phones. It is his vision to develop Phuket as a world-class yachting hub in one of the world's most idyllic and accessible locations.

With all of the 66 condos and penthouses in Phase One of the island's first 'high-end' residential marina already snapped-up, the launch of the Aquaminiums and villas is poised to meet the market's current demands.

The marina will be double the size of any other yachting haven in Phuket, with 350 berths for yachts of up to 30 metres long, and the only facility with a non tidal boat lock, deepwater basin and private moorings on the doorstep of residences.

More than half of the Royal Phuket Marina development is devoted to leisure and shopping facilities, including cafes, restaurants, a fitness centre and spa, which are set amidst landscaped gardens and attractive communal areas.

Royal Phuket Marina was awarded the prestigious "Five Gold Anchor" by the Yacht Harbour Association, an arm of the British Marine Federation.

The marina has quickly established itself at the forefront of Phuket's yachting establishment, sponsoring the prestigious international Phuket King's Cup each December, an event that was recognised as 'Yachting Event of the Year' in the Christofle Asia Boating Awards in April.

Coinciding with the King's Cup Regatta, will be the PIMEX International Boat Show which is relocating to Royal Phuket Marina in 2007. PIMEX 2007 will showcase the latest boats and equipment in 2,000 square metres of air-conditioned exhibition space at the "luxury lifestyle marina" on December 8-9. Up to 50 boats are expected in the water and on land.

A partnership with The Cruising Club International, 'The Royal Phuket Marina Cruising Club', is the first Fractional Boat Ownership Company in Thailand, offering the opportunity to own an equity percentage of a range of luxury power boats, sharing purchase and maintenance costs through syndicated ownership.

The entire US$150 million Royal Phuket Marina project is due for completion in 2010.

For more information, please visit www.royalphuketmarina.com.

For media enquiries, please contact:
Amber Hinde
Tel: (852) 2810-0532
Fax: (852) 2525-7972
Email: amber.hinde@ghcasia.com

For Marketing & Events enquiries, please contact:
Andrew Jordan
Director of Operations
Royal Phuket Marina
68 Moo 2, Thepkasattri Rd, Kohkaew
Muang Phuket 83200 Thailand
Tel: +66 (0)76 360 833-38#15
Fax: +66 (0)76 360 840
Mobile: +66 (0)81 891-1758
Email: aj@royalphuketmarina.com
Web: www.royalphuketmarina.com