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Ocean Star Estates Marketing Team Update

July 21, 2009

Hello everyone,

I wanted to let you know about a few new things going on with the Ocean Star Estates project. First, we finally received titles to all of the lots in phase I, which is great news! What this means is that soon we will be able to begin transferring these titles to our buyers. We are still going through the deslinde process for phase II. More details are at http://www.oceanstarestates.com/title_transfer.html, and in our latest newsletter. If you didn’t receive our last newsletter, visit http://www.oceanstarestates.com/newsletter.html where they are archived.

We have a new special the remainder of July through the end of August which is tied to a community project we are doing for a school near the project. Anyone who joins us the weekend of August 28-30 to help us repair the roof of the school and build a bathroom is eligible is eligible for one free real estate and tax lien workshop for the 12-month period following the event (September 2009 to September 2010) or $10,000 off the purchase price of any remaining property we have in Phase I of Ocean Star Estates. We also will provide a tour of the property that weekend.

We have a couple of owners who are interested in selling their lots. Lots for resale are designated on our Lot Information Table (http://www.oceanstarestates.com/lot-information.html) by a light blue shading. Some very nice lots are available: C4 and C5 as a package for $150,000; C4 alone for $79,900; A2 for $129,900; A5 for $129,900. And there a few others available. Please note that the referral agreement you signed does not include resale lots. A 10% commission has to be paid by the lot owner to us for our help in selling their lot and taking care of the closing, with the remainder of the purchase price due to the owner. We will split this commission 50/50 with anyone who can sell a resale lot for us.

Just a reminder that the most up to date information on available lots is the Lot Information Table at http://www.oceanstarestates.com/lot-information.html, and not the plat map, which sometimes takes longer to update.

If you have visited our website lately, you have probably noticed our new Eco-Friendly logo. More information about what this means is at http://www.oceanstarestates.com/Eco-Friendly-Development.html. There is also a new Guide to Green Building at http://www.oceanstarestates.com/Guide_To_Green_Building.html.

I would recommend that everyone review the information we have under “Purchase a Lot.” One big change in policy is that for now we are not offering to pay the transfer tax fee (3% of the purchase price) upon title transfer that is normally the buyer’s obligation. That may change in the future. Also, anyone who is purchasing property in the Dominican Republic with a business needs to be aware that in addition to the cost of setting up and registering the business in the D.R., the business will have to pay a 1% annual property tax fee, and, because of a new law, provide monthly accounting to the government at a cost of approximately $600 per year. It is my understanding that said accounting can be done online, so it is possible that after some tutoring, the business owner could do this monthly accounting him or herself.

P.S. These sales team updates are archived on our website at www.oceanstarestates.com/sales-team-updates.html.