Your new home in the mountains!

1. Bad Kleinkirchheim - Austria Your new home in the mountains!

2. NOTES: HAUS B – ready to move in by Spring 2010 HAUS A – delivery expected by December 2010 Amenities and equipment: electric heating TV, telephone and satellite in each room each unit provided with 2 bathroomsbeech-wood floorings and high-quality finishesheated cellars garage with remote control gate fireplace and “stube” southward orientation independent entrance low yearly maintenance costsothers Taxes and other costs linked with the property buying process: Transfer tax: 3,5%Ownership registration (stamp duty + land registry fees): 1%Notary's fees: approx.1-2%Agent's commission: 3% + VAT

3. A FEW GOOD REASONS TO INVEST IN BAD KLEINKIRCHHEIM POINT # 1 On January 27th 2010 the local town council of Bad Kleinkirchheim released the new building rules in which they defined the following important rules: a) Stop to any new authorization to build until February 2011 and probable prolongation until February 2012; b) reduction of building coefficient on each land from 0,45 to 0,30. On a 1000 square meters surface it is now possible to build only 300 meters of construction. In 2006 the % was 0,60 and the change to 0,45 accounted for an increase in the value per M2 of 100% in 3 years. The new rules approved as of January 27th 2010 are intended to prevent excessive speculations and at the same will give an additional exclusivity to the area. Any experienced or well-informed investor can easily guess the increasing potential of the area at issue.

4. POINT # 2 – In the “buy to rent” perspectiveThe town of BKK has lost almost 1000 rooms since 2004 as many Austrian owners of “holiday houses” has converted their BBs or small hotels into apartment to sell. As a result nowadays apartments for rent are in big demand, especially for medium- to long-term stays.In addition to that the region Kärnten is also developing a new project to make Bad K.K. one of the most important Europeanwellness centers with 2 high-end Spas. Thermal centre Romerbad has just been restored with an investment of EUR 17M and now further EUR 23M have been earmarked for the upgrading of the St. Catherine thermal centre. This is another reason why apartments for medium- and long-term stays are much sought after. Daily rentals for a 2 rooms + sofa bed apartment (4 pax + 2) are: Low season (May, June, October and November) Euro 50-70 per day Middle season (March, April, September and 1.20 December) Euro 80-120 per day High Season (December, January, February, July and August) Euro 120-170 per day On the average, renting the apartment for 100 days (30% yearly) one may expect an estimated ROI of approx. 3% per year, not to mention the capitalization linked with the increase in value of the price per square metre of the property itself.

5. POINT # 3 Bad Kleinkirchheim is not only the ideal place for a profitable and safe investment, but also an ideal venue to enjoy manifold and diversified attractions all the year round, such as golf courses, 100 km of ski slopes, 2 thermal centers, riding, 25 tennis courts, natural parks and so on. For further info on what the area offers please find time to visit the following websites: BKK’S officieal website: http://www.badkleinkirchheim.at Ski slopes website : http://www.vondenpistenindiethermen.com SPA website: http://www.therme-badkleinkirchheim.at Golf club Bad Kleinkirchheim: http://www.golfbkk.at Tennis BKK: http://www.badkleinkirchheim.at/it-vacanze_estive_carinzia-tennis.shtml http://www.tennisbyjakob-bkk.atKärnten’s official website: http://www.kaernten.at Nockberge National park: http://www.nationalparknockberge.stream.at

13. Views to the garden and surrounding landscape

14. From the 1st floor

15. French-roofed penthouse

16. French-roofed penthouse

17. Ground floor

18. First floor

19. Penthouse