L & A International Properties (S) Pte Ltd

An Anekona affiliate owns and plans to sell 343 fee-simple apartments in The Ilikai condominium. The first to be released will be 167 deluxe studio apartments equipped with full kitchens located from the 3rd to the 21st floor. VIPs may select from an additional 18 studios and 6 two-bedroom apartments, all with kitchens, which are reserved on the 22nd floor.

Oahu is known as the “gathering place” and millions of fun seeking visitors flock here every year to taste the Aloha Spirit. At the foot of Diamond Head, Hawaii’s most recognizable landmark, lies Waikiki – the world’s most famous beach and home to the grand and luxurious Ilikai Resort. Located adjacent to the Hilton Hawaiian Village and Ala Wai Yacht Harbor within easy walking distance of Ala Moana shopping village, The Ilikai is primed to take advantage of the lucrative year-round tourism market. The Ilikai is synonymous with Waikiki and is the Resort of choice for many discerning travelers. It is where Waikiki Begins.

KEY MARKETING POINTS  Rare Oceanfront Property in Hawaii. One of only two fee-simple oceanfront condominium properties located on the famous beachfront strip fronting Waikiki  In 2005, Hawaii received a record-breaking 7.4 million visitors, a 7 percent increase over the previous year  While Waikiki is undergoing several multi-million revitalization projects and significant improvements to infrastructure, it has not lost track of its sense of “place” and traditional Hawaiian Values. This unique combination insures that Waikiki will retain its rightful place as one of the top visitor destinations in the world.

 The Ilikai was first recognized world wide as the location of the long running popular TV series “Hawaii 5 O”  Its’ reputation as a world class resort remains untarnished and will be further enhanced in the near future.  Unparalleled views of the ocean, the Waikiki Yacht Club, the city and the Ala Wai Yacht Harbor  Unique architectural “Y” shape offers desired ocean views from most of the apartments  Glass elevator to 30th floor provides transport for a unique fine-dining experience on site at Sarento’s top of the “I”  Island cuisine offered at Canoes Bar & Grill, located on courtyard level  Full service first class resort amenities available, high speed internet access, business center, pool and fitness center  The Ilikai was first recognized world wide as the location of the long running popular TV series “Hawaii 5 O”  Its’ reputation as a world class resort remains untarnished and will be further enhanced in the near future.  Unparalleled views of the ocean, the Waikiki Yacht Club, the city and the Ala Wai Yacht Harbor  Unique architectural “Y” shape offers desired ocean views from most of the apartments  Glass elevator to 30th floor provides transport for a unique fine-dining experience on site at Sarento’s top of the “I”  Island cuisine offered at Canoes Bar & Grill, located on courtyard level  Full service first class resort amenities available, high speed internet access, business center, pool and fitness center

The Ilikai received a $27 million renovation in Anekona Development will spend an additional approx. $40 million to transform The Ilikai into a more contemporary and upscale destination with creative interior design and stylish exterior upgrades. Re-defining The Ilikai Plans to refurbish, rejuvenate and reposition the property in the market Re-defining The Ilikai Plans to refurbish, rejuvenate and reposition the property in the market

 167 studio apartments on 3rd to 21st floors  Living area 500 sq.ft. with a covered lanai of 120 sq.ft. * apartments in the 27 stack have a living area of 510 sq. ft. with a covered lanai of 80 sq.ft.  Additional 18 studio apartments on 22nd floor reserved for VIP selection  Living area 500 sq.ft. with a covered lanai of 120 sq.ft.  Additional 6 two-bedroom apartments on 22nd floor reserved for VIP selection  Living area 988 sq. ft. with a covered lanai of 252 sq.ft.  Each Apartment is equipped with a Full Kitchen  Appliances include an oven, refrigerator and microwave  The apartments are offered fully-furnished but sold As - Is with no warranties from the Seller  167 studio apartments on 3rd to 21st floors  Living area 500 sq.ft. with a covered lanai of 120 sq.ft. * apartments in the 27 stack have a living area of 510 sq. ft. with a covered lanai of 80 sq.ft.  Additional 18 studio apartments on 22nd floor reserved for VIP selection  Living area 500 sq.ft. with a covered lanai of 120 sq.ft.  Additional 6 two-bedroom apartments on 22nd floor reserved for VIP selection  Living area 988 sq. ft. with a covered lanai of 252 sq.ft.  Each Apartment is equipped with a Full Kitchen  Appliances include an oven, refrigerator and microwave  The apartments are offered fully-furnished but sold As - Is with no warranties from the Seller THE A PARTMENTS

THE VIEW CATEGORIES The unique architectural “Y” shape of The Ilikai offers the opportunity for ocean & harbor vistas from the EWA VIEW WINGS (even-numbered apartments and odd-numbered ) ocean & lagoon vistas from the DIAMOND HEAD WINGS (even-numbered apartments and even-numbered ) and park & cityscapes from the MOUNTAIN WINGS (odd-numbered apartments and odd numbered )

Ocean Ewa View  $537,500 to $591,500 (fee-simple)  Prime location adjacent to Yacht Harbor Tower with unparalleled views of the ocean and coastline towards Ala Moana Beach-park with Ala Wai yacht harbor and canal views  Evening Sunset views. Lanais look down over The Ilikai’s lushly landscaped courtyard. Enjoy the nightly conch shell blowing and torch-lighting ceremony, the beautiful hula dancing and poolside entertainment

Ocean Diamond Head View  $468,000 to $547,500 (fee-simple)  Exquisite views of the turquoise lagoon, the sun bleached sands of Waikiki beach and ocean sunrises  Future benefit from Hilton’s multi-million dollar green-belt enhancement between the properties set to include extensive landscaping with a boardwalk, improvements to the lagoon and a new oceanfront restaurant

Mountain View  $399,000 to $444,000 (fee-simple)  Popular in price-point with many visitors who choose the lower rental rate offered by the mountain view category  Views capture the heart of Waikiki, the towering cityscapes, the bright nightlights and the cosmopolitan crowds moving in the streets below  tropical setting enhanced by vibrant green coconut palms lining the boulevard and views of lush countryside and green mountain peaks on the horizon  $399,000 to $444,000 (fee-simple)  Popular in price-point with many visitors who choose the lower rental rate offered by the mountain view category  Views capture the heart of Waikiki, the towering cityscapes, the bright nightlights and the cosmopolitan crowds moving in the streets below  tropical setting enhanced by vibrant green coconut palms lining the boulevard and views of lush countryside and green mountain peaks on the horizon

Proposed Ilikai Façade Renovation. Architects Impression Only. Renovation plans are subject to association consents and government permits. Subject to change.

PLEASE READ THIS IMPORTANT DISCLAIMER FOR THE ILIKAI MARKETING PRESENTATION All figures, facts, information and prices in this presentation are approximate and are subject to change at any time without notice. All renderings, maps, site plans, photos, simulated views, floor plans, graphic images, drawings and all other information in this presentation are for purposes of illustration only. They are provided to help the purchaser visualize the apartments and the Project but they may not be accurate depictions and may also be changed at any time. Purchasers should not rely on the words, numbers or pictures about the Project and apartments in this presentation in deciding whether to purchase an apartment. The Developer makes no promise, representation or warranty of any kind that the apartments depicted in this presentation will ultimately appear as shown or that the areas around the project are as shown. To the extent permitted by law, the Developer disclaims all liability that may arise out of errors or omissions in the content of this presentation, including claims for actual consequential damages. This is not an offer to sell, nor a solicitation of an offer to buy, to residents of any state or province, including Hawaii, where the Project is not registered and in which restrictions and other legal requirements have not been fulfilled. This offer is void where prohibited by law. The plans, amenities, availability and improvements shown are subject to change without notice. Renovation plans are subject to association consents and government permits. Developer is not allowed under Hawaii law to offer or enter into any agreement with a prospective purchaser except a non-binding pre-registration agreement until a project is registered with the Real Estate commission, the commission issues an effective date for the developer’s public report and the developer delivers the public report to prospective purchasers.