We recognise at Rise Resorts that without investors our business would not exist. Our equal priority is to achieve maximum returns for our investors as well as providing a fun and positive holiday experience for our guests. As there is a lack of quality 1 and 2 bedroom fully self contained beachside apartments in the Mermaid and Broadbeach areas of the Gold Coast, we are confident that Rise Resorts will develop into a much sought after holiday company.

We at Rise Resorts currently have 81 x 1 bedroom and 50 x 2 bedroom, 4 - 4 ½ star apartments under management. Our current facilities work very well together with the benefits of cross selling and marketing a positive advantage to both investors and guests. We have very good relationships with selected holiday promotional agencies and overseas wholesalers.

We have established a live computer network between our resorts which enables us to check availability and book accommodation between buildings on-line. This is a great bonus to our guests as we can manage their accommodation needs with more flexibility and as a result, enhance their holiday experience. www.riseresorts.com.au is our central marketing platform for all of our resorts.

It is our best estimate that completion of our newest resort "Splendido Resort" will be within the first week of August 2005.

Yours sincerely,

Tim Rice
General Manager
Rise Resorts.