28.08.2008

Dear Investors, Finally we have the pleasure to contact you with good news! Today the National Building Control Department appointed a State Admittance Commission, which is supposed to determine the suitability for the building utilization as a result of which this Commission issues an Utilization Permission – Protocol Form 16. We received a date for the Commission inspection - September 8th, 2008. Soon after this date we will receive the Permission or called Protocol Form 16, for which we will instantly inform you. We were waiting for this date quite long, but set this delay to the lots of property constructions in Bulgaria and also to the fact that August is the holiday month in Bulgaria. Finally we would like to express our appreciation for your patience. In September you will become into possession of your property and as you have been very reliable business partners up to now, we hope we will continue our good business relations in the future. Best regards, Dimitar Andonov Executive Director Mirage Bansko Plc