This presentation shows the advantages of working working with Visual Market Intelligence International, LLC

1. Visual Market Intelligence
International, LLC
Improving market transparency

2. The VMI Competitive Advantage
It is simple..
Our recommendations
are based on more
detailed information

3. Exhibit I-A
LEVEL OF DETAIL RECOMMENDATIONS ARE BASED UPON
SUMMARY OF CURRENTLY SELLING COMPETITIVE PROJECTS
LA PAZ & ROSARITO
AUGUST 2008
MAP DATE HIST % %
ID PRODUCT PROJECT/LOCATION TOTAL UNITS SALES UNITS ABS/ UNIT UNIT UNIT AVG. AVG. AVG. UNITS INVENTORY
TYPE DEVELOPER UNITS RELEASED BEGAN SOLD MO. MIX MIX TYPE MIN - MAX SIZE MIN - MAX PRICE $/SF AVAIL. AVAIL.
North Pacific
Sands Point
Puntarenas
A Condominiums Sands Point 71 53 Jan-08 18 2.42 Overall 1,884 - 3,001 2,179 $348,000 - $693,000 $455,615 $208 26 49%
20% 14 2 Bed 2 Bath 1884 - 2197 2041 $348,000 - $424,000 $387,000 $190 11
28% 20 3 Bed 3 Bath 2188 - 2240 2214 $468,000 - $577,000 $492,571 $220 14
4% 3 4 Bed 4 Bath 3001 - 3001 3001 $693,000 - $693,000 $693,000 $231 1
Coco Bay Estates
B Condominiums Coco Bay Estates 37 37 Jan-08 11 1.48 Overall 1,884 - 3,001 2,179 $348,000 - $693,000 $455,615 $208 26 70%
38% 14 2 Bed 2 Bath 1884 - 2197 2041 $348,000 - $424,000 $387,000 $190 11
54% 20 3 Bed 3 Bath 2188 - 2240 2214 $468,000 - $577,000 $492,571 $220 14
8% 3 4 Bed 4 Bath 3001 - 3001 3001 $693,000 - $693,000 $693,000 $231 1
Azul Paraíso
C Condominiums Azul Paraíso 40 40 Oct-07 12 1.14 Overall 1,985 - 2,473 2,166 $605,000 - $925,000 $748,179 $345 28 70%
53% 21 2 Bed 2 Bath 1985 - 2150 2031 $605,000 - $815,000 $706,250 $347 16
48% 19 3 Bed 3 Bath 2321 - 2473 2346 $745,000 - $925,000 $804,083 $342 12
Coco Vista
D Condominiums Coco Vista 418 393 Aug-04 389 8.00 Overall 1493 - 2883 2,069 $399,900 - $875,000 $583,233 $277 4 1%
45% 190 2 Bed 3 Bath 1493 - 1493 1493 $399,900 - $400,000 $400,000 $268 2
45% 190 3 Bed 4 Bath 1831 - 1831 1831 $449,500 - $499,900 $474,700 $259 2
9% 38 3 Bed 3.5 Bath Penthouse 2883 - 2883 2883 $875,000 - $875,000 $875,000 $304 0
Avellanas – Sámara
Hacienda Pinilla
419 419 Dec-06 312 15.12 Overall 501 - 3072 1787 $369,000 - $2,598,000 $929,800 $675 107 26%
E Condo-Hotel Hacienda Pinilla 7% 28 Studio 501 - 567 534 $369,000 - $500,000 $434,500 $814 18
39% 164 1 Bed 1 Bath 708 - 772 740 $460,000 - $814,000 $637,000 $861 88
16% 65 2 Bed 2 Bath 1256 - 1364 1310 $689,000 - $837,000 $763,000 $582 19
3% 14 3 Bed 3 Bath 2040 - 2148 2094 $945,000 - $1,136,000 $1,040,500 $497 2
3% 14 Penthouse 2642 - 3072 2857 $950,000 - $2,598,000 $1,774,000 $621 2
The Sanctuary
F Condo-Hotel Rosarito Beach Club 271 221 Sep-05 144 4.02 Overall 740 - 1900 1320 $190,000 - $649,000 $356,917 $334 127 57%
10% 28 Studio 740 - 740 740 $190,000 - $277,400 $256,193 $346 18
61% 164 1 Bed 1 Bath 740 - 740 740 $190,000 - $277,400 $256,193 $346 88
24% 65 2 Bed 2 Bath 1060 - 1060 1060 $308,200 - $420,000 $384,533 $363 19
5% 14 3 Bed 3 Bath Penthouse 1900 - 1900 1900 $599,000 - $649,000 $530,750 $279 2
Carrillo - Tambor
Ocean Whisper
G Condominiums Pacífico 37 37 Jan-08 11 1.48 Overall 1,884 - 3,001 2,179 $348,000 - $693,000 $455,615 $208 26 70%
38% 14 2 Bed 2 Bath 1884 - 2197 2041 $348,000 - $424,000 $387,000 $190 11
54% 20 3 Bed 3 Bath 2188 - 2240 2214 $468,000 - $577,000 $492,571 $220 14
8% 3 4 Bed 4 Bath 3001 - 3001 3001 $693,000 - $693,000 $693,000 $231 1
Del Pacífico
G Condominiums Azul Paraíso 40 40 Oct-07 12 1.14 Overall 1,985 - 2,473 2,166 $605,000 - $925,000 $748,179 $345 28 70%
53% 21 2 Bed 2 Bath 1985 - 2150 2031 $605,000 - $815,000 $706,250 $347 16
48% 19 3 Bed 3 Bath 2321 - 2473 2346 $745,000 - $925,000 $804,083 $342 12
Los Sueños
H Condominiums Coco Vista 418 393 Aug-04 389 8.00 Overall 1493 - 2883 2,069 $399,900 - $875,000 $583,233 $277 4 1%
45% 190 2 Bed 3 Bath 1493 - 1493 1493 $399,900 - $400,000 $400,000 $268 2
45% 190 3 Bed 4 Bath 1831 - 1831 1831 $449,500 - $499,900 $474,700 $259 2
9% 38 3 Bed 3.5 Bath Penthouse 2883 - 2883 2883 $875,000 - $875,000 $875,000 $304 0
Nativa
I Condominiums Nativa 418 393 Aug-04 389 8.00 Overall 1493 - 2883 2,069 $399,900 - $875,000 $583,233 $277 4 1%
45% 190 2 Bed 3 Bath 1493 - 1493 1493 $399,900 - $400,000 $400,000 $268 2
45% 190 3 Bed 4 Bath 1831 - 1831 1831 $449,500 - $499,900 $474,700 $259 2
9% 38 3 Bed 3.5 Bath Penthouse 2883 - 2883 2883 $875,000 - $875,000 $875,000 $304 0
UNIT SIZE UNIT PRICE

4. What else differentiates us?
Due to our customer intelligence knowledgebase, our market analysis
recommendations can further support marketing strategies.

5. Global Strategic Alliances
Mexico
Costa Rica
Dubai
We have resort consultants located across the globe
United States

6. Services
Market Feasibility Study - A general economic overview iterating the strengths and weakness of area are assessed. Tourism trends are highlighted to
complement the market feasibility exercises. Our consumer demand analysis addresses origin, age, income, life style and behavioral indicators tied to
unit sales. The consumer demand component provides one of the most advanced progressive methodologies found anywhere in the world. The
competitive market analysis component addresses the market driven demand by product types, unit mix and amenities. Our competitive market
analysis also provides supply, demand and absorption. Overall, our market feasibility study provides recommendations on pricing, size, unit mix,
amenities, target markets, competitive positioning and highest/best use.
Cash Flow & Capitalization Modeling - This is a series of analytical methodologies used to create a financial model for raising capital and tracking
profitability for a project that stretch far beyond the standard operating proforma and static project costs. The master model starts with a supply &
demand (S&D) model generated from the market intelligence data, then incorporates cost estimates and timing assumptions (construction budget),
future revenue estimates and timing assumptions (sales/operating proforma) and then determines the optimal capital structure and sequence of
capital events through project life span, circularly calculating the cost and timing of capital into the model (capitalization and returns). The compilation
of these analyses results in the monthly life cycle portrait of a project's needs as well as its costs, revenues, sources of capital, uses of capital and
profitability for each source over time. This master document is used to determine financial feasibility of a project, make financial decisions
throughout the project, raise capital and track the accuracy of a project through execution and finally exit.
Target Market Analysis - This is the geo-demographic component addressing country origin, age, income, life style and behavioral indicators. The
analysis leverages the life style and behavioral indicators for marketing messaging. A consumer demand component can be added to provide
recommendations based on an advanced level of detail difficult to find globally. In addition, we identify local trends thru interviewing well qualified
local real estate professionals for further validation.
Tourism Analysis - Our tourism analysis researches local and regional air travel trends. Travel time is assessed for potential market opportunities.
Where available, growth rate profiling is provided. In many geographic areas, we have statistical knowledgebase historical archives.
Database Management, Profiling and Analysis Reporting - One competitive advantage we offer is market research that transpires into marketing
tracking and reporting support. So much of market research is interrelated with marketing. We feel this is an unaddressed area in the development
process. Our direct experience into the target market and market research can transfer directly into systems of efficiencies within the marketing
strategy and execution. We can setup your customer database and provide insight into what is and what is not working within your marketing
execution. Ongoing database management services extend all the way to email tracking and reporting for future optimization.
List Purchase Recommendations – Having a core knowledgebase in resort market and marketing intelligence naturally leads into long term
relationships within list sourcing. We can support you if you are looking for additional customers and/or new blood in your database. Our access
includes email lists of high-net worth individuals residing all over the globe. We have the historical archives to project the response you should receive.
Purchasing terms and counts are clearly provided. We can support list purchases that also complement your existing marketing campaigns.

7. Leadership & Background
Our resort consultants have produced hundred’s
of real estate market studies extending across the
globe including North & Central America, Eastern
& Western Europe, and Oceania. As a result we
have advised on a combined $6 billion in real
estate developments across all product types.
Here some of the most notable projects we have
supported to date.

8. Visual Market Intelligence International, LLC
www.VisualMarketIntelligence.com