This document is not intended for general circulation and is only a statement of the Company’s intention for the coming months.

SAYLE POINT will be a true Eco friendly Bahamian hideaway on one of the most idyllic

islands, Eleuthera.

Featuring a boutique Condo Hotel, Sayle Point will recreate the charm, elegance and beauty of nearby Harbour Island in a more secluded and tranquil environment (see place holder images on pages 16-17).

Sayle Point’s 24 month plan based upon current economic market:

Prepare Marketing Plan (website, brochures, scale model and signage)

Complete the clearance / site preparation for Phase I

Utilities for Phase I (and then as required for each phase)

Completion of design concepts and architectural drawing

Laying of roads and paths for Phase I and entrance

Build four model units

Careful landscaping to retain natural vegetation

Cash Flow Requirement for first 1-2 years: c. $5.6m

24 Month Plan

The Bahamas

Eleuthera

Sayle Point

Site images

Development Ownership Structure

Sayle Point Development Concept Sketch

Development Program

Sales & Marketing

Market Analysis

Financials

Contents

Sayle Point

The Commonwealth of The Bahamas is a coral-based archipelago comprising over 700 islands and cays plus nearly 2,400 reefs and rock formations. Each of these islands has its own character, some bustling with cosmopolitan excitement, whilst others retain their natural and unspoiled tranquil beauty.

The Bahamas acquired independence from the UK in 1973. Since then its economy has been driven almost totally by tourism and banking. Today 70% of its GDP of $4.5 billion is derived from tourism and 50% of the workforce is employed in this expanding industry.

The success of tourism in The Bahamas has been based upon its climate (340 sunny days per year), beautiful crystal clear waters, tropical scenery and most significantly its geographical proximity to the USA. The Bahamas Tourist Industry has enjoyed constant, sustained growth, with an increasing number of sophisticated resorts, ever more facilities and improved infrastructure. Today, The Bahamas receives around 4.6m visitors per year, with over 80% from the USA.

While The Bahamas has long been the major tourist destination of the Caribbean, many of its visitors have considered The Bahamas as a single island destination for sun, sea, casinos and cosmopolitan excitement. The tourist market has only recently become aware of the complete diversity of the island chain. The individual islands have their own character and often a distinct culture, with The Family islands offering some of the most spectacular and secluded beaches and clear blue water found anywhere in the world. The fishing is unsurpassed and the island reefs represent a diver’s paradise.

The Bahamas

Although The Bahamas is located on the doorstep of the largest vacation marketplace in the world, The Family Islands have remained virtually untouched and have traditionally accounted for less than 20% of Bahamian tourism. The previous Government included in its manifesto a promise to prioritize this sector in an attempt to counterbalance the perceived over-development of the few larger main islands. The present Government continues this legacy. Several new upscale island developments and multi-million dollar investments in the Exumas and Abacos have already begun to energize this marketplace. The northern Bahamas has seen the most significant growth .

The Bahamas is a safe and stable democracy with an expanding economy and a

currency directly linked to the US dollar. Although The Bahamas is an independent nation, many Americans view The Bahamas as part of the US. This concept has had a significant impact on the economic development of tourism, finance, and most recently, property development in The Bahamas.

Despite the down turn in the market, Florida continues to be an ever expanding

population. This growth has been created by the increasing demand for the type of outdoor lifestyle available in Florida. Already, it is becoming difficult to find an available ocean front lot in Florida. Coastal land and house prices have now become prohibitively expensive for many people interested in obtaining retirement locations or a second home. In addition, the increasing taxation and overcrowding has made the second home buyer look more favorably towards The Bahamas.

The Bahamian real estate market has started to benefit enormously from the

ever-increasing land and property values in Florida. In a like-for-like comparison Bahamian real estate can be 80% cheaper than Florida. This has led to a growing number of second home purchasers looking towards The Bahamas for better value and the lifestyle benefits that have been accessible in Florida.

The Bahamas

Founded in 1648, Eleuthera Island was the birth place of The Bahamas. Captain William Sayle and a group of Puritans sailed from Bermuda in search of religious freedom. Along the way, they found this island and named it Eleuthera. The development Sayle Point derives its name from Captain William Sayle and the spirit and endurance of this remarkable man.

Eleuthera (north) is approximately 225 miles from Miami/ Ft. Lauderdale, Florida. The island as a whole is roughly 90 miles long from tip to tip but its slim one to two mile width sets it apart. You are never far from the dramatic Atlantic or calmer, turquoise ocean. This stunning contrast is most prominent at the “Narrowest place on Earth”, the Glass Window where the distance from one side of the island to the other is less than 100 feet.

Known as “Citigoo” by its early inhabitants the Lucayan Indians, Eleuthera’s population is now reported to be somewhere between 8,000 and 10,000 people. Many of these people are farmers and fisherman with their largest export being the Eleutheran Pineapple. Gregory Town (see map on page …) hosts a Pineapple Festival every year on the first weekend in June.

Eleuthera is known to have some of the best dive sites in the world; most famous for “Current Cut”. Known as a “fast drift dive”, the swift current moves between the rock walls of Eleuthera and Current Island.

Transport to and from Eleuthera is both domestic and international with three airports (north, middle and south). Commercial airlines and charter flights arrive daily into North Eleuthera Airport. In addition to air travel transport is also provided by “Bahamas Fast Ferries” from Nassau to Spanish Wells, Eleuthera and The Current.

Eleuthera is home to 3 major sailing regattas: South Eleuthera Homecoming, All Eleuthera Regatta in Governor's Harbour, North Eleuthera Regatta.

The Eleutheran chain has some of the finest and most unspoiled white and pink sand beaches in the entire Bahamas, making this the perfect location for a romantic vacation, a honeymoon in paradise or for families to explore the many deserted beaches. The island architecture is predominantly quaint colonial style homes in pretty pastel shades.

A drive along the Queens Highway is an experience in itself; at times one can see both the calm Caribbean Sea on one side and the Atlantic Ocean on the other. Rolling hills, secluded beaches and the gin clear seas ensure you have an unforgettable tropical vacation.

“The Island hospitality is sure to make you feel welcome, the locals really are warm

and friendly, and yes, they will wave as you drive by.”

Eleuthera

The Site• One of the truly last remaining large designated Hotel Sites on the

Caribbean side with beach front property suitable for an exclusive resort

• 20.047 acres• 2,617.46 ocean front footage• A 2 acre private island peninsula with 20-30ft elevations and 360-

degree panoramic views• Electricity, water and telephone utilities are all presently located on

the main road which adjoins the property. The developer will provide all essential services within the development.

• 10 minute (8.5 miles north) drive from Governor’s Harbour Airport and 30 minutes from North Eleuthera Airport

• Minutes from Governor’s Harbour and nestled between Hatchet Bay and James Cistern. These idyllic communities boast local and acclaimed restaurants as well as a range of amenities and services

• Eleuthera is that special place to have quiet tropical relaxation, to enjoy water sports, soak in the sun, and to breathe fresh ocean air. This is a casual dress, laid-back island with shorts and t-shirt as the standard.

• Sayle Point beach has a clean, white sand bottom and is shallow for a long way out. The water is always calm and welcoming. There is some breathtaking snorkeling around the larger rocks in the water and along the low cliffs of the island peninsula.

Sayle Point will be a true Bahamian hideaway

on one of the most idyllic islands, Eleuthera.

Featuring a boutique Condo Hotel, Sayle Point

will recreate the charm, elegance and beauty

of nearby Harbour Island in a more secluded

and tranquil environment.

Sayle Point

Paracove Holdings Limited (Bahamian

Companies Act Company) will convey the Sayle Point

Site to Sayle Point Properties Ltd..

Sayle Point Properties Ltd. (Bahamian

Companies Act Company) will be owned by Sayle Pont

Holdings Ltd. - a holding company.

Sayle Point Holdings Ltd. (Bahamian IBC) will

also own Sayle Point Hotel & Beach Resort Ltd. – the

operating company

Sayle Point Hotel & Beach Resort Ltd. (Bahamian Companies Act Company) will be the

operating company.

Development Ownership Structure

Sayle Point Holdings Ltd. will be owned by the following shareholders:

Matthew Schilowitz & Co. - 95% (48.75%)

Paul King 4% (2%)

Jonathon Morris 1% (.5%)

New Partner 48.75%

The Shareholders

Sayle Point Concept Sketch

Sayle Point Concept Sketch

It is intended that the property will have the following (see place holder images on pgs. 16-17):

16 Single Family Homes 30, 400 sq.ft. Hotel Villas 184, 600 sq.ft. Condo Units 72, 900 sq.ft. Condo Units 18, 1300 sq. ft. Condo Units True Bahamian architecture (see pg. 17) with modern interiors Office, Club Restaurant, Honeymoon Suite and Spa and 30 units with 400 square feet of interior

space all on the island peninsula (boutique hotel) Three pools, a tennis court and gazebos The necessary infrastructure to support the development (site clearance and preparation, roads,

street lights, utilities- electrical transformers, back up generators, cable, telephone and water & sewerage treatment plant, landscaping, entrance and gates).

Phase I Identify a small project management team (2-3 people plus basic offices) Prepare marketing plan, website, brochures, scale model and signage Complete the property clearance/ site preparation for Phase I Utilities for Phase 1 Laying out of the roads and paths for Phase I and entrance Build 4 model Villas Careful landscaping to retain natural vegetation

Phase II and On Villas to be built in groups of 8 through pre-sales to ensure positive cash flow Identify and attract a boutique hotel operator (30 hotel units, honeymoon suite and spa) Restaurant and retail Identify and attract retail rental for future road-side outlets

Development Program

Sayle Point will be a true Bahamian hideaway on one of the

most idyllic islands, Eleuthera. Featuring a boutique Condo

Hotel, Sayle Point will recreate the charm, elegance and

beauty of nearby Harbour Island in a more secluded and

tranquil environment.

Brazilian Hard Wood

Marketing Sayle Point will focus on the following areas:

Promoting the comparably lower pricing ($400 per sq.ft) in relation to Harbour Island or other competing family island developments.

An attractive website that most importantly is user friendly (build database) and focused on sales (i.e. not simply for general information)

The Rental Management Program will be highly geared to favor the home owner in order to drive a greater velocity of sales.

Constant and deliberate communication with Bahamian press (only after all approvals attained)

Bahamian realtors

A U.S. marketing firm

Target free media (editorials in magazines such as Air Currents that last three months for a captive audience on Continental Connection)

Sales & Marketing

Pineapple FieldsThe Club at Pineapple Fields is a condominium hotel located at Governor’s Harbour, Eleuthera. The Club consists of 32 units located in 8 two-story buildings located on a parcel of landscaped land with deeded access to Potlach Beach adjacent to Tippy’s Restaurant.

c. $400 to $ 440 per sq.ft. One Bedroom - 625sq.ft (c. B$275,000) Two Bedroom - 1075sq.ft (c. B$430,000) This project is selling well (developer requires 50% down on execution of Agreement) Net Rental income is spit 65% to the owner and 35% to the management company The units have a Floridian feel

Cotton BayLocated five miles south of Rock Sound, this development encompasses 200 acres. The Project have partnered with Starwood and is a member of the Audubon Silver Signature Program.

27,000 sq.ft. Club House c. $900 -$1,300 per sq.ft. One Bedroom - 811 sq.ft. - $1.2m Two Bedroom - 1,674 sq.ft. Three Bedroom - 2,148 sq.ft. - c. $3m

Sky Beach ClubWith 610 feet of Ocean facing beach front and a 135’ slope, Sky Beach Club has a visually grabbing property. The Developer has cleared the entire slope and graded large areas to situate the 33 planned homes. The Development has aimed at a modern design with a high level of finish

3,200 sq.ft., four bedrooms for $2,800,000 – $3,115,000 c. $900 per sq.ft. Club and two restaurants and pool

Competitive Analysis

Market Area DefinitionAs an Out Island location, the Resort will likely compete with some of the more established condo hotel resorts in Eleuthera, the Exumas and the Abacos and some emerging luxury resort destinations elsewhere in the Family Islands. The extended competitive market consists of established luxury resort destinations in the greater Caribbean, including Anguilla, St. Maarten, St. Kitts and Nevis, St. Barthelemy and the British Virgin Islands.

VisitationThe total number of visitors to The Bahamas has remained roughly constant for the last three years at around 4.8m although 2007 saw a small decline. Although there was a 1% decrease in Air & Sea arrivals to Nassau, the Out Islands saw an increase of 17% from 2005-2006 totaling 1.35m. Most of this increase was seen in the northern Bahamas as there are few developments in the south. Stopover visitors from Florida, the biggest producer of stopovers visitors to The Islands of The Bahamas, grew by 4%.

Boating MarketThere has been an increase trending demand for boat slips and an increase in the average slip size required to accommodate the growing number of private vessels in the market. Most notably, world-wide production of yachts 80ft or larger through 2005 has increased at an average annual rate of 14% since 1997, resulting in the completion of 3,600 new yachts. These figures may have decreased slightly in the last year and a half but certainly the boating market remains strong.

Increased Demand for Resort-Residence OwnershipA survey of the wealthiest ten percent of Americans conducted by the Affluent Americans Research Center shows an increasing desire among high net-worth individuals to own a vacation residence. According to the survey, plans to purchase an existing home as a vacation residence have increased from 4% in the Fall of 2002 to 6.3% in Spring of 2005, representing a 57% increase. The increase in expressed desire to build a vacation home experienced an even greater increase from 2% of respondents in the Fall of 2002 to 4.2% in the Spring of 2005.

Despite the general economic slowdown in the nearby United States, sale of vacation homes were continuing due to the strength in the European currencies early this year. However as we all know the world economic climate has changed drastically and the key to a successful development in this environment is careful long term planning. As such the Shareholders of Sayle Point are anticipating the commencement of our marketing program and development to be at the end of 2009 beginning of 2010.

Market Analysis

• See under separate cover

Financials

Use of Funds

Proposed Use of Funds

Hard Costs Clearance 50,000

Site construction 600000Reception and partial Hotel Construction 2000000

Power 200,000

Street Lighting 70,000

Water & Sewerage 300,000

Landscaping & Gates 100,000

Offsite Utilities 25,000

Offsite turn lanes 40,000

Show homes 2 84,600 169200

2 126,900 253800

Hard costs total 3.808,000 3,808,000

Development/ Soft Costs Engineering 60,000

Surveying 10,000

Platting 15,000

Environmental 5,000

Planning & Architecture 75,000

Permits 50,000

land Advance 1,000,000

Marketing 60,000

Contingencies 83,100

Development/ Soft Costs 1,758,100

TOTAL FUNDS (USD) 5,566,100 5,566,100

Ocean facing beach opposite Rainbow Bay

Architectural Placeholder Images

• Matthew Schillowitz

USA phone number: +1 631 882 1986

matt@acantohotels.com

Contacts

This document is not intended for general circulation and is only a statement of the Company’s intention for the coming months.