Proposal to Manage the Development of

1. Proposal to Manage the Development of “Sehr E-Sharq” Kingdom of Saudi Arabia October 2009 Disclaimer This presentation document contains information which is proprietary to the ETHRAA Group®, and is (and is intended to remain) confidential, being provided for the exclusive use of the intended addressee and may be legally privileged.  If you have reason to believe  you are not the intended addressee(s); disclosing, copying, disseminating or otherwise taking any action in connection with this document or the information in; it is prohibited and may be unlawful. If you have reason to believe you have accessed this document in error, please notify the ETHRAA Group®, comply with the foregoing warning and delete this document from your system. This document shall not constitute binding legal obligation with the company..

2. Our Approach We are Here! Consultancy Management Development Management Project Management Facilities Management Development of Master Plan Statuary Permits Delivery of Infrastructure Buildings’ Operations Investment Modeling Marketing, Sales & Concessions Operations’ Permits Investors & Shareholders Buildings’ Developers One Stop Shop

3. Sehr E-Sharq Status Facts (Oct 2009) Capital Investment The Land Conceptual Master Plan Development Baselines Statuary Permits Allocated SR 9 bln Allocated 1.16 bln ft2 8 Zones Integrated Scope & Activities Initial Permits on Master Plan Cost of Land SR 7.5 bln Transportation Networks Area Breakdown 1.02 bln ft2 GFA Breakdown ??? ft2 Permitting Flow Chart Infra-Cost SR 36 bln Engineering & Technical Analysis Public Compulsories Infra Cost at SR 32/ft2 Municipal Framework Pre-Operating Cost SR 20 mln Site Constraints & Expansion Infra ?? % ??? ft2 Timeline 3 Phases in 8 Years No. of Inhabitants New 500,000 Jobs Questioned Issues

4. Issues to Develop (Phase One) Capital Investment The Land Conceptual Master Plan Development Baselines Statuary Permits Revised Detailed Budget Investigate Site Constraints Environmentally Revise Roads’ Sections Revised & Reduced Program of Work Manage obtaining General Permits Added Value By Ethraa Group Development Natural Expansion Practical Inter-City Mass Transportation Revised, Reliable & Controllable Cost Breakdown Manage Obtaining Special Permits Revised Sales Modeling; Based on GFA Desertification Solutions Allow New Pedestrian Facilitations Rework Master Plan to Define GFA Create, Plan & Manage OSS Developing Alternative Revenue Streams Solutions for Marine Erosion Allow for District Cooling Options Detailed & Practical Green Initiatives & Programs Set Framework for Post Construction Municipality Re-pricing the value of New Habitat Optimization of Sewage Treatment Plants Produce Planning Guidelines Allow for Transportation Hub

5. Overall Scope We are Here! Service Consultancy Management Development Management Project Management Facilities Management Initiation & Baselines Compliance KYC Master Plan Development Assets Development Assets Management Scope Branding, Marketing & Macro Sales Initial Capital Finance Investment Modeling Planning Guidelines Design of Infra Works Management of Utility & Facility Baselines & Business Appraisal Development Consortiums Marketing, Sales & Concessions Construction Contracts Municipal & Operations Permits Principle Statuary Permits Associations of Stakeholders Create & Manage One-Stop-Shop Operation Manuals & Agency Property Ops for 2nd Layer & End-users Audit & Alignment of Baselines, Produce Banking Doc. & Legal Framework Perform Du-Diligences for 1st & 2nd Layers Investors & setting Final Baselines Managing Launch of Brand, Marketing, Sales & Operations. Issue Planning Guidelines Management of Construction for Infrastructure, Public Utilities & Handover Parcels & Plots Framework for Post Construction Operations & Management Deliverables

6. Deliverables of Phase One Condition Acceptable Digital Copies of Done Master Plan Scope Capital Investment Legal Framework Conceptual Master Plan Development Baselines Revise Initial Budget Subject of Investment Revise Conceptual Master Plan Revise Programof Work Deliverables Revise Sales Modeling; Based on GFA Conditions Precedent Define Utilities & Facilities Revise Area Breakdown Terms of Payment Define GFA Breakdown Revise Cost Breakdown Approval Deliverable within 30 Days, as per Signed Agreement Fees Against SR 450,000 For Acceptable Banking Documents

7. Parties Obligations Rasameel Holdings ETHRAA Group Accept Initial, Phase One and Final Proposals from E.G Sign Off Service Agreement with R.H As Conditioned Precedent for Phase One Support & Facilitate obtaining SA Governmental and local Statuary Permits Setting up Local Office in Jeddah, providing needful Facilities & Staff, as per SA Bylaws Appoint Master Planners, Project Managers, Consultants , Contractors and Suppliers as per E.G Recommendations Management of Master Planner, Project Managers, Consultants & Contractors & Suppliers, as per detailed Scope of Service Approve E.G Deliverables, as per detailed Scope of Service Review and Validate Deliverables from all Parties as per detailed Scope of Service/Contracts. Release Payments to E.G & Contracted Parties; upon certifications from E.G Review, Validate and Certify Payments for All Parties as per Agreements and Contracts

8. Next Actions Acceptance of Initial Proposal (Mutual Intention of Engagement) 7 Days Acceptance of Phase One Proposal (Issue Letter of Award) Sign off Phase One Service Agreement 7 Days Delivery of Phase One of Service 30 Days Development & Corporation Alignments (Producing Final Service Proposal) Sign Off Final Service Agreement (Including Attestation & Mobilization) 60 Days Delivery of Service (As per the Detailed Scope of Service) To Be Defined Close out (R.H sign off of Service Completion Certificate) 30 Days