Dear Clients, Investors and collaborators:

I would like to take the opportunity to formally reiterate to all of you my commitment and obligation to deliver on our promise to build PUNTA PERLA CARIBBEAN GOLF, MARINA & SPA RESORT into the premier resort in the Dominican Republic and the Caribbean!! I also want to express my gratitude to all of you for the patience and consideration received during the last few months.

As you are aware, last June, in Beijing, China, we signed the construction contract with one of the largest Chinese construction companies that will construct the first phase of our PUNTA PERLA. This is the first phase of a total of 5 phases of the construction contract, whereby we have included all of your units and the corresponding infrastructure, golf and marina facilities. The quality level of the apartments and villas will be first class with final delivery and acceptance supervised by an internationally certified company contracted by Punta Perla. During the last month we have been finalizing with them the details and quality of the construction materials to be used, construction guarantees, performance bonds, and the bid process in order to deliver our five star resort.

The level of bureaucracy and the due diligence process involved to review, approve and sign a contract of this order of magnitude, $462.0 million dollars, a first for Punta Perla and the Dominican Republic with the Chinese state, is very detailed and lengthy. As you know we made public this contract last October when we invited to the Dominican Republic a 14 member Chinese delegation to formally introduce them to President Leonel Fernandez Reyna as well as the Minister of Tourism, Minister of Foreign Investment, Minister of the Environment, Minister of Labor among others.

We will all benefit from this effort as it is a big step towards the positive outcome of building PUNTA PERLA! As you can imagine I have been working non stop in order to be able to come up with a positive solution to be able to deliver on my commitment to all of you. This is why I am grateful for your continued patience and understanding. I also am aware of the onslaught of emails you have received from third parties and I can tell you that I have taken legal action against the perpetrators. I will not tolerate distractions from my main objective of building PUNTA PERLA. Finally and most important, I want to announce to all of you that the start up of construction will be in the first trimester of 2011, (end of January - February).

Last but most important this is the time of year that I enjoy most, Christmas holidays with my family and friends, I am sure that it is the same for all of you, may I wish all of you a MERRY CHRISTMAS and a very HAPPY NEW YEAR!!!

Ricardo Miranda
CEO PUNTA PERLA

December 21, 2010