HARMONY HILLS

Harmony Hills is the first functional and fully managed vacation resort for all year entertainment and relax. Located in the village of Rogachevo, situated 38 km north of Varna. The village itself enjoys extensive view to the mountains and the Black Sea and has become one of the most sought after locations on the coast with the resort of Albena just 4 kms away. The property will be sold with high quality exterior and interior finishing, keeping line with the traditional architectural features of the northern black sea region. Fully fitted kitchens, spacious bedrooms and living areas, BBQ and gardens are some of the details Harmony Hills will include. Property in Harmony Hills is sold fully furnished without towels, beddings, small electrical appliances and cutlery. Features: Swimming pool; Restaurant; Club house; Laundry rooms; Fitness area; Parking space; Wellness area and landscaped gardens are community amenities. Apartments are distributed on the different sections as follows: 9 entrances from A to I; 177 studios - one and 2 bedroom apartments; 22 semi-detached villas, with 2 and 3 bedrooms private gardens and BBQ areas. Services in the resort: Swimming areas; Children areas; Wellness areas; Restaurant; Club house; Fitness area; Laundry room. Property management will include: 24 hour security; 24 hour reception; Professional maintenance of the green areas and common areas; Management of the leisure areas; Contract for property.

Rental management: Harmony Hills will secure to its buyers the best interior finishing and furnishings to be up to the standards for international rentals. One of the leading firms for professional rental management in association with world leading travel agencies will propose to investors the best approach to make the most out of their property purchase.

Payment plans: First one is the following: 1. 20 % upon signing the Preliminary contract. 2. 20 % by completion of the rough construction May/June 2007; 3. 50 % by finishing totally interior and exteriors March 2008; 4. 10% by issuing permission for usage and notary deed May 2008 OR Second one: 1. 50 % upon signing the Preliminary contract. 2. 47 % by issuing the notary deed. 3. 3 % Awarded discount. The preliminary contracts will be issued after the reservation fee is visible in our accounts. Preliminary contract will include contracts for property management and proposed rental management contract. Delivery date - spring 2008.