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October 5, 2005                         

Dear friends:

We are pleased to announce the development of a five-star JW Marriott resort at Hacienda Pinilla.

The resort will be located on the beach at Playa Mansita, within Hacienda Pinilla, just south of the Palma Real villas.

The construction of the 180-room resort is expected to commence in less than a year with the grand opening anticipated at the end of 2007.

The JW Marriott is the most exclusive brand in the Marriott’s family of hotels. There are only 34 JW Marriott hotels located in 15 countries throughout the world. The JW Marriott resort at Hacienda Pinilla will be the first resort, of this brand, built in Central and South America.

Preliminary plans for the resort include: four restaurants, a 15,000 sq. ft. spa, meeting and events facilities, and all the amenities of a world-class resort.

The architecture will reflect the openness of the Spanish Colonial style and the spirit of the Costa Rican Hacienda.

The resort will be developed by Grupo Roble and managed by Grupo Real. Both are divisions of Grupo Poma, a Salvadorian group, the largest developer and privately owned company in the region. Grupo Real owns and operates 20 hotels in nine countries, positioning them as leaders in Latin America.

Grupo Real’s well-established reputation as an industry leader, coupled with Hacienda Pinilla’s long-term commitment and vision, create a solid foundation for an extraordinary beach resort and residential community.

The hotel will bring recognition to Guanacaste, prosperity to its people and the appreciation of guests who will enjoy their time in this beautiful resort on Playa Mansita.