Virtual Realty. About Us. 123 Garriden Terrace Blue Sky City 9000 Ph: Fax:

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1 About Us Virtual Realty is a leading provider of premium, urban property developments in Blue Sky City. We have worked hard since our inception in 1990 to uphold our commitment to innovation and quality, and we are proud to have built a reputation that is unrivalled in Blue Sky City. Over the past 12 years, Virtual Realty has been involved in projects totaling over $200 million with 4 more development projects on the table. We offer expertise in two main areas - property development and marketing and project management. Through the utilisation of expertise and best practice, Virtual Realty seeks to contribute to the excellence of property, design and building in Blue Sky City and beyond. Our aim is to achieve these goals while simultaneously respecting the surrounding environment and enhancing the communities in which our developments exist. Our strength lies in the production of innovative and progressive urban living solutions in prime, inner-city locations. We specialise in, but do not limit our skills to, mixed-use developments and combined commercial/residential projects. Virtual Realty is also able to source investors for potential residential and commercial development and promises to deliver buyers for the developments, providing a true end to end solution with minimal risk to our clients. Sales of properties directly off the plan are encouraged. This provides buyers with several advantages. Not only can the best deals be negotiated at this early stage but also at project completion, property values have normally increased. Buyers also have the flexibility of making alternations to plans and choosing their own finishes. Service Guarantee We understand that investing in a development off the plan can appear risky; with fears of whether the deadlines will be met, whether the finished quality of the properties will meet the specifications and when and for how much the properties will sell. To minimise these risks Virtual Rea alty have put in place a series of quality controls that ensures we can deliver on time and on budget: 1. We engage only leading architects, builders and consultants. 2. We ensure e that all relevant authorities have been consulted and appr rovals acquired prior to marketing the development proposal, ensuring that the project commences ontime. 3. We encourage buying off the plans by offering low risk in nvestment to the buyers throughh an unconditional, money back guarantee so that if for any reason building does not go ahead their deposit is refunded in full. 4. All developments are fixed price. Theree are no hidden charges, fees or escalation claus es. This aids in developing buyer confidence. 5. We guarantee to our investors the rental income on any of its properties at 5% of the purch hase price for the first 12 months. This is designed to demonstrate confidence in our product and to give investors peace of mind.

2 Our Property Development and Marketing Services Property Consultancy and Advisory The success of new projects relies upon many factors from initial design, pricing, marketing, understanding and meeting the market; we help you to maximise the return to you. We provide experienced professional advice, aimed at assisting you to structure your project for success and the earliest possible target results, so that your project can proceed with certainty. Project Management Managing a property development process can be a complex process. Virtual Realty collaborates with Blue Sky City's leading property developers; Blue Sky Developments, to ensure quality project management throughout the development process. Blue Sky Developments offers project management services on developments on an agreed fee basis. The company has earned a sound reputation as project managers with budgets of $1m to $10m. They are also experienced in negotiating and administering building contracts from $1 to $6m and their strong client focus ensures that you will always be kept informed. Extensive experience in the project management ment of large and small projects has resulted in a readily accessible network of skilled and professional architects, designers, structural, mechanical, hydraulic and acoustic engineers, quantity surveyors, landscape consultants, safety consultants, valuers, planning authorities, local councils, state governments and so on. These existing networks enable us to achieve the best possible outcome for the site at hand. A key benefit in engaging Virtual Realty and Blue Sky Developments as project managers for your project is their considerable experience dealing with local councils, state government and planning authorities. This can be a time consuming and difficult process. A thorough knowledge of the various systems and procedures ensures the requisite approvals are granted in an orderly and timely manner. The sound relationship between Virtual Realty and Blue Sky Developments guarantees you the highest possible level of professional service at all times plus maximum value for your investment or purchasing dollar. Sales and Marketing Covering all aspects of real estate development including houses, units, apartments, off the plan sales, new projects and land sales, our expertise in this area cannot be matched. Whether you are a buyer or seller, Virtual Realty has developed a strong marketing arm to maximise "saleability" of the finished product. Alliances with marketing and media groups ensure properties receive excellent exposure during their development. Property Management Our professional work practices ensure that your property will be in good hands. Whilst collecting rentals is important, so too is tenantt selection, regular inspections, property condition reports and experience in maintenance supervision. Our experienced and well trained staff can assist you in residential, commercial, industri al, and retail manage ement of your property. Strata Company Management Our philosophy on Strata Company Management is much more then just a chore enabling owners to comply with the requirements of the Strataa Titles Act. To us, Strata Company management ag is asset protection on for owners - today whilst you own and tomorrow when you sell.

3 Risk Management As experienced property developers, Virtual Realty takes a proactive approach to risk management. Tabled below are common risks associated with the property development process and the steps we will take to minimise these. 1.) Planning stage & pre-development Category Risk Mitigation Likelihood Planning The relevant planning approvals take longer than anticipated. Gain provisional approval. Ensure the guidelines are adhered to. Planning Other developments or properties on the market. Check that there are no other developments happening in the immediate area. Minimum Check that the potential for other developments to occur is minimal. Finance Finance falls through during the project. Ensure Investors are aware when funds are required and are committed contractuallytua ually. l Ensure all costs are declared up front and are accurate. Finance Inadequate coordination of cost estimating efforts within the agency. All costs s are estimated and totaled by experienced staff. Th hese include: closing cost staff time, relocation and administrative costs. Finance Credit worthiness of the investors. Perform cred dit checks on the investors. Tendering Contractors not available to commence when req equired. Ensure all contractors engaged are reputable and are not 1 man companies. En nsure that the contractors to have been notified ied a month in advance of their requirements. Have a second contractor available for backup.

4 2.) Development stage Category Risk Mitigation Likelihood Site Differing site conditions. Performa provisional site analysis prior to planning application. Delays in infrastructure e.g. sewer works, water and power. Ensure all utilities have been approached during the planning stage. Manage the utilities closely allocate responsibility to project manager to manage all parties. The construction falls behind schedule. Site remediation, monitoring and auditing, site infrastructure, construction, landscaping. Site and building costs are higher than expected. Manage the progress closely.ensure at planning phase the contractors participate in the costing. High Lock contractors into fixed price contracts. Quality issues with the finishes. Ensure quality finishes have been costed during planning. Ensure reputable con ntractors are utilised. 2.) Marketing stage Category Risk Mitigation Likelihood Sales and Marketing Downturn in property sales and prices. Forecast the current markets for investment and property sales.provide supporting analysis on the predicted future inte erest rates..check the property cycle in the area to an nalyse if it is about to enter a low. Sales and Marketing That the properties es do not sell or take a while to sell.where are we in the real estate cycle? Involve sales and marketing from inception.sell off the plan.promote the development with bill boards and promotional materials from inception.

5 Our fees All our fees and rates quoted are GST exclusive. Where we are required to utilise the services of third party contractors, the price shown here is a guide only. The agencies will provide a fixed price quote upon presentation of the required documentation. Property Consultancy and Advisory We provide experienced professional advice, aimed at assisting you to structure your project for success and the earliest possible target results, so that your project can proceed with certainty. Our consultants are all qualified to perform their role and have vast experience in property development. Our rates start at $80 per hour and are negotiable depending on the length and complexity of the project. We provide two options to ensure we can provide the required service for your needs: o Fixed Price: we set the total cost for the consultancy up front. o Time and Materials: we charge you on a weekly basis for time spent. This allows great flexibility if you have a complex project that is in the conception stage. Project Management Blue Sky Developments offers project management services on developments on an agreed fee basis, in collaboration with the city's leading property development organisation Blue Sky Developments. Our project managers have worked on numerous projects and bring their wealth of knowledge to your project. Sales and Marketing We believe in providing the best marketing for your property / investment. Too achieve this we work directly with you to determine your marketing budget and the best marketin rketing methods to use. Below are some of the options to be considered: Signage on site Artwork/design (from) $500 Large bill board (from) $800 each Small bill board (from) $400 each Newspapers Special feature adverts ¼ page $1000 each ½ page $2000 each full page $3000 each Standard d Adverts average age price of $100 each Internet Part of the Virtual Realty website $50 Unique promotional site from $2000

6 Our fees (continued) Mail Drops Design and development of brochure $160 Printing of 1000 brochures $500 Mail dropping 1000 brochures $100 Prices for radio and television promotion are negotiated with the respective stations at the time. Property Management Our property management fees are extremely competitive. Management fee 8% of the rental fee Letting Fee 12 month lease 2 weeks rent Property Condition report $80 (once off) Final Bond Inspection $60 when tenants vacate Routine Inspections $40 (Initially at 6 weeks then every 3 months) Postage Telephone etc $5 per month Annual Summary $25 (for taxation purpose) Lease Renewal $46 - renewal of lease for existing tenant Strata Company Management Our strata company management fees are designed to ensure that we provide the best services to the strataa owners. These are negotiated with each client dependant on the size and nature of the strata development. Remember, when you engage Virtual Realty on your property development project, you are working with the most experienced and successful real estate agency in Blue Sky City. You can rely on not only the expertise of our own staff but also that of the property professionals with whom we collaborate on large property development projects. We welcome feedback from our clients and we are always happy to negotiate our fees in accordanc rdance with your project's requirements.