1. Scotiabank – SJBS Investment opportunities in Jamaica Investment opportunities in Jamaica FOTA Symposium May 29, 2010

2. Overview Why now is a good time to invest in Jamaica? Factors that are stimulating the real estate growth Why real estate? Other Investment Opportunities

3. Why now is a good time to invest in Jamaica? Ongoing modernization of the two major international airports Continued expansion in the tourism sector Ongoing transformation of telecommunications Real estate prices are up to 50% cheaper in Jamaica compared to other Caribbean Islands Financial assistance still readily available Our close proximity to the US Continued island-wide highway development Jamaica’s location along the main shipping lanes (North/South America/Europe)

4. Factors that are stimulating real estate growth - North

5. Factors stimulating real estate growth cont’d? Mortgage financing more readily available Continued real estate developments island-wide Increased investment opportunities in real estate (rental etc) Funding from state-run NHT High demand for prime properties Stability and confidence in the real estate market in Jamaica (due to specific factor) With some 15,000 hotel rooms to be added by 2012, residential dwellings will be required

6. Why real estate? Real estate in Jamaica has continued its value appreciation over the years Market values on property has continued to increase in value at approx 10% over the past year Properties in or around resort towns have similar growth rates. Real estate prices in Jamaica are approx 50% less than the Caribbean Local market less cyclical than more developed markets.

7. Why real estate cont’d Why real estate cont’d Real estate in Jamaica is a good hedge against inflation or financial depreciation eg 401K Apart from market value appreciation, income can be derived from rental of the property (short term or long term) Based on the Jamaican scenario, market appreciation is somewhat guaranteed. During the Financial meltdown in the 1990’s market values were basically stable, where values did not depreciate but were basically stagnant When stability in the financial sector returned in early 2000 property values started increase significantly

8. Current Developments Stonebrook Estate, Trelawny – Kemtek Stonebrook Estate, Trelawny – Kemtek Two bedroom units - JA$6.5M Trelawny – Gore Developments Trelawny – Gore Developments 828 two bedroom units - JA$ ?? 828 two bedroom units - JA$ ?? Tamarind Ridge, Duncans – Silver Sands Dev Co Tamarind Ridge, Duncans – Silver Sands Dev Co Vacant lots starting at US$90,000 Vacant lots starting at US$90,000 Richmond, St Ann – Richmond, St Ann – Three bedroom bungalows US$195,000

9. Other Investment Opportunities Green House Technology for Agricultural Production Access to grant funding Special Loan programmes Technical assistance Products include tomatoes, coloured peppers, cucumbers etc

10. Other Investment Opportunities Exotic products (herbs ) More contained approach – mitigates praedial larceny Higher start-up costs ( short run economies of scale) Strong local demand from hotels Access to export markets Agri – Processing ( Trelawny Yam/Breadfruit)

11. Facts to note Convention Centre Convention Centre Elegant Corridor Elegant Corridor New Cruise Ship Pier New Cruise Ship Pier Boscobel Airport Boscobel Airport

12. Contact Information www.jamaica.scotiabank.com www.jamaica.scotiabank.com www.jamaica.scotiabank.com 1-888-4-scotia 1-888-4-scotia Gladstone Whitlelocke - VP/General Manager Gladstone.whitelocke@scotiabank.com 1-876-922-3600

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