Master Plan – Milagro del Mar Beach Club Hotel

Internationally Branded Resort Hotel

• First Internationally Branded Hotel on Pacific Coast• Major Development for Nicaraguan Economy• Oceanfront Resort• 45 Minutes from Managua• 128 Guest Suites• Golf Course Already Open• Managed by Hilton• 3 – 5 Year Market Monopoly

Master Plan – Milagro del Mar Beach Club Hotel

Features and Amenities

• 2 Swimming Pools• Dramatic Water Feature• 2 Restaurants and Bars• Exercise Facilities• Business Center• Golf Course and Tennis Courts• Equestrian Facilities• Surfing

Financial Summary

• Debt Service Covered at 45% Occupancy in Year 1• Year 1 Average Daily Rate $145• Debt Reduced as Condo-Hotel Suites are Sold• Debt Fully Retired After 66.4% of Suites are Sold• 10 Year Net Cash Flows Average $312,000 per Year• 10 Year Projected Net Income of $8.4 Million (All Phases)

Current Status

• Phase I Condominiums Under Construction• 68% Sold Out• $6 Million Invested to Date• Law 306 Approved Project• Infrastructure and Utilities Existing• $5.2 Million Land Valuation• Phase II Hilton Hotel Ready for Financing Package

Lending Summary – Phase II Hotel

• $27.7 Million Completed Market Value• $25 Million Capital Expenditure• $18 Million Loan Requirement, to Include:

– Phase II Hotel Construction & Development– Amenities– 11 KM Permanent Entrance Road– Retirement of $1.3 Existing Debt

• 3 – 5 Year Term

Source and Use

• $5.2 Million Land Valuation• $6.0 Million Invested in Project to Date

$11.2 Collateral Available

• $5.0 Closing - Road, Architecture, Debt Retirement and Working Capital

• $11.5 Disbursed During Construction of Hotel• $ 1.5 Interest Reserve

$18.0 Total Financing Package

Central Pacific Coast

Amenities

Tourist Activities

Socially Responsible Development

“What you do for yourself goes to the grave, but what you do for others lives forever.”

• Artisan Village• Employee Housing• Health• Education• Vocational Training• English Language• Entrepreneurship• Baseball Academy

Baseball AcademyInternational Baseball Academy of

Central America (IBACA)

• First in Central America• Player Development and Education• Fantasy Camps• International Tournaments• Professional Baseball to Gran

Pacifica

Baseball AcademyFormer Major Leaguers:

Reggie SmithDave StewartBrad Lesley

Nicaragua

Belize

Pacific Costa Rica

Panama

Caribbean Costa Rica

Costa Rica Highlands

Nicaraguan Tourism is an Emerging Market,

Providing Value Opportunity

Opportunity Curve

Mexico

Nicaragua – The Only Growing Tourism Destination in Central America

The Opportunity is Now