1. From Concept to Completion and Beyond.. Own the Best Address on Earth at a Fraction of the Price

2. SEEFF FRACTIONAL OWNERSHIP Who we are Concept Feasibility Marketing Strategies Completion Our in-house structure Beyond General

3. WHO WE ARE Started a Syndications company called Joint Ownership in 2003. Converted to a Seeff license in September 2005 – Seeff Fractional Ownership. The power of our brand. Over 500 shares have been sold during this time & R265m in property. 100% growth rate year on year & 40% decline in FY 09. Leaders in the industry. Largest advertisers in South Africa. Largest basket of product on offer. Founder member of SAAFI, the Fractional regulatory body. Have now joined VOASA.

4. CONCEPT SA regions where fractional sales are predominant: Exclusive Golf Estates – Why… they offer freedom for children, the spas for the ladies, the golf for the family & the tranquillity for everyone Other leisure developments including bush lodges are going the same route KZN is currently in highest demand and also now apartments Cape Town and surrounds and Apartment blocks

5. Project has to conform to our model All factors have to be accounted for True value needs to be considered to maximize R.O.I. Development/product has to be VOASA registered COSTING CONSIDERATION - FEASIBILITY

6. Feasibility - Zimbali Villa APPROPRIATION SCHEDULE 1. FINANCES 1.1 Project Costs Rand Erf R 2,000,000.00 Golf Debenture R 50,000.00 ZEMA Fractional Application Fee R 50,000.00 Transfer Duty R 0.00sqmcost per sqm Building costs R 3,000,000.00400R 7,500.00 Interior (furnishings, appliances, etc.) R 500,000.00 Architect R 90,000.00 NHBRC, Engineers & Services Connections R 50,000.00 Auditors R 70,000.00 Golf Cart R 60,000.00 Incentives 0.00 Referrals 0.00 Seeff Licensee's Commissions R 0.00 Levies - Paid by Seeff Before Occupation R 26,000.00R2600x10 Total Costs:R 5,896,000.00 Cost per Square MeterR 14,738.50 1.1 Contribution Price per 1/13th contributorR 536,000.00 (Total costs divided by 11 shareholders. Seeff earns 2 paid-up shares and contributes 2/13 th s in all levies and additions)

7. Once we have established the demand in a particular resort/destination we generally purchase a Villa/Lodge/apartment or land and develop. We also now focus on JVs in order to save on risk, due to banks not lending. Design….and there are various factors taken into account. Manage Architects. Function with investors in order to finalise plans and interiors. Develop. Handle project management. Interior designing. Engineers & Landscaping. Financing. CONCEPT - continue

10. MARKETING STRATEGIES Investor evenings Electronic mailers Exhibitions Magazines Newsletters Business Day inserts TV, Radio Google

11. Completion Register a Pty then on - sell to 13 investors. Develop the property and fully furnish interior. Sell largely off plan Arrange finance ourselves. To date we have financed over R50m and sold property to the value of R265,000. Once property is habitable, we convert the Pty to a Share – Block company. We collect all payments & once all done & suppliers paid, we hand the Villa over to its investors.

12. OUR IN-HOUSE STRUCTURE Prospective investors call into our hub in Randburg and Cape Town. Our sales managers send all the relevant info to client and ccs a sales exec. We currently have 13 sales execs in JHB, 10 in C/Town & 1 in Durban. We also employ a back-office team who controls the total hospitality aspect as well as the maintenance & management of the Villas. Sales execs follow up with potential purchaser, arrange for presentation and then makes the sale. Investor is then included into database for continuous updates and info. Once sold, contract is sent to auditors and the process starts. Investor then has the full enjoyment by owning the most beautiful holiday home of their dreams. Shares are transferred, SARS exemption certificates, etc.

13. BEYOND Vital to protect the investment for its investors, hence we manage and maintain the property. Why? Should we do this well and diligently, we have the chance of being the obvious choice upon re-sales. We do the handover once villa completed Manage the levies into the future We facilitate all letting, exchanges, re-sales and swaps Facilitate the AGMs and submit the audited financials

14. GENERAL The market needs to be assured of capital growth Feasibility to be executed with utmost care, otherwise the business case will fail Re-sales is what its all about Roster system does not suit many investors - Inter exchange programs End-user finance

15. LETS ASSIST EACH OTHER IN CREATING A PHENOMENAL INDUSTRY Thank You! THE END