Group Company Profile

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1 RED SEA G R O U P RED SEA G R O U P RED SEA GROUP OFFICES WORLDWIDE Red Sea Group, Israel 8 Hasadnaot Street Herzliya Israel Tel Fax [email protected] Red Sea Group, USA 999 North Sepulveda Blvd, Suite 600 El Segundo, CA USA Tel Fax [email protected] Red Sea Group, UK Elizabeth House 39 York Road London SE1 7NQ England Tel Fax Red Group Sea Company Profile Red Sea Group, France 44 Avenue Victor Hugo 4 Villa d Eylau Paris France Red Sea Group, Holland Dufastraat 5-hs 1075 GR, Amsterdam The Netherlands Tel Fax Red Sea Group, Cyprus 3 Chrysanthou Mylona st Limassol CY-3030 Cyprus Tel Fax Red Sea Group, Romania Sos. Pipera Tunari no 4C, Et. 5 Bucharest Tel Fax Developing a world of opportunities

2 Red Sea Group is an investment company operating primarily through holdings and development projects. Its focus is the hotel and residential real estate markets, as well as complementary activities in other upmarket sectors. Red Sea Group has an enviable record for entrepreneurism in its chosen market. It has a rare eye for opportunity, covering the entire profit-generation cycle, from development and financing to construction, management and a lucrative exit.

3 NEW HEADING The managers that drive our vision have a special talent for identifying and building on opportunity.

4 OUR KEY PEOPLE Success is the ability to seize the present to shape tomorrow. Yoav Papouchado Chairman of the Board Mr. Papouchado was CEO of the Group between From 1994 to 1997 he served on the Company s Board of Directors. In 1998, he was appointed Chairman of the Board. Mr. Papouchado has a B.A. in Economics and an MBA, both from Tel Aviv University. Roni Hirsh Deputy Chief Executive Officer and Chief Financial Officer Eli Papouchado (Papo) Founder Founder and major shareholder of the Red Sea Group. Pioneer in Israel s hotel industry. Developer of the milestone Aviya Sonesta Hotel at Taba and many other hotels. A true entrepreneur with the businessman s eye for opportunities and extensive experience in upgrading holdings through an understanding of market conditions and potential. With the Red Sea Group since 1993, Mr. Hirsh is an active member of executive management. He was previously with KPMG, Israel. Mr. Hirsh is a CPA, with a B.A. in Accounting and Economics from Tel Aviv University. Avner Papouchado Chief Executive Officer Red Sea Group U.S. Head of the Group s operations in the US since 1993, Mr. Papouchado is also an active member of the executive management of the Red Sea Group worldwide. Mr. Papouchado has a BFA (Bachelor of Fine Arts) from the New School for Social Research in New York.

5 STRUCTURE Hotels United Kindom The Netherlands Hungary Germany Ireland Belgium Under Development C o m p l e t e d Hotels & Resorts Westminster Park Plaza London Hotels Construction Shaw Park Plaza London Riverbank Park Plaza London Victoria Park Plaza London Sherlock Park Plaza London Nottingam Park Plaza Nottingam Leeds Park Plaza Leeds Real Estate Portfolios United States France Gear Construction Group Residential Development Israel France Romania United States Costa Rica Luxury Markets Cyrus Shipyard Turkey

6 GLOBAL FOOTPRINTS The Red Sea Group s global perspective of opportunities spearheads its profitable strategy United States United Kindom Costa Rica Ireland Belgium The Netherlands Germany From hotel ownership, construction and management in favorite tourist and business capitals in Western and Eastern Europe. France Hungary Romania to the construction and management of choice residential and office properties with the potential for sound added value Turkey we have demonstrated a remarkable ability to buy, build and sell at the most favorable time. Keen foresight, astute financing, strong management, right-on market positioning have created an excellent record. Cyprus Israel We have a talent for spotting undervalued properties. Our team has the scope to see the first ripples of prosperity in emerging markets. The courage to jump in, and the experience to structure a deal that will be a seed for growth is the next step. Properties are nurtured: upgraded or transformed or developed from scratch into market-capturing attractions. Businesses are built with care, using local management talents. Value is added through a combination of people and property. And we harvest our just rewards through selling and other exits, and moving on to the next promising project with vigor and determination.

7 Hotels Hotels & Resorts We have a proven ability to develop, turnaround and manage hotels which attract quests who appreciate and can afford the best. Location Stars Rooms Status United Kingdom Riverbank Park Plaza London Ownership Plaza on the River London 5 66 Ownership Sherlock Holmes Hotel London Ownership Victoria Park Plaza London Ownership Westminster Park Plaza* London Ownership (Under development) Park Plaza County Hall London Management Park Plaza Leeds Leeds Ownership Park Plaza Nottingham Nottingham Ownership Park Plaza Cardiff Cardiff Management Ireland Park Plaza Tyrellstown Dublin Franchise Park Plaza Belfast Belfast Franchise The Netherlands Victoria Hotel Amsterdam Amsterdam Ownership Vondel Park Plaza Amsterdam Ownership Park Plaza Utrecht Utrecht Ownership Mandarin Park Plaza Eindhoven Ownership Our hotel business has its roots in Israel, in Eilat on the beautiful Red Sea. In the seventies of the last century, we began with the Red Rock Hotel and set a new standard in the eighties with the fabled Aviya Sonesta in Taba. This favorite of international celebrities was later sold to Egypt as part of the Peace Agreement package. Success stories in historic Jerusalem and the Dead Sea resort area soon followed. At the turn of the nineties, we took the strategic decision to test our eye for hidden value and expertise in responsive, value-based management to plunge into the European market, initially in London and Holland. For those who wondered what an Israeli company could contribute to the sophisticated, cosmopolitan European scene, we soon proved that our strengths made the transition very successfully. Many of our hotels are managed under the illustrious Park Plaza brand name. Today our holdings include part or whole ownership, management, franchises, and operating leaseholds. You ll find us across Western Europe and testing the waters in Central Europe s favorite tourist capitals. In July, 2007, Park Plaza Hotels Ltd., representing a significant number of Red Sea Group s hotel businesses in Europe and Israel, made a successful public offering on the AIM in London. Morgan Stanely Securities Ltd. served as the lead manager, sole bookrunner, underwriter and broker. Germany Art'otel Berlin City Center West Berlin 4 91 Operating leasehold Wallstreet Park Plaza Berlin Operating leasehold Art'otel Berlin Mitte Berlin Operating leasehold Park Plaza Berlin Berlin Operating leasehold Art'otel Dresden Dresden Operating leasehold Park Plaza Dresden Dresden Operating leasehold Park Plaza Munich Munich Management Park Plaza Trier Trier Franchise Art'otel Potsdam Berlin Franchised Art'otel Ku'damm Berlin Operating leasehold Nurenberg Park Plaza Nurenberg Ownership Hungary Art'otel Budapest Budapest Operating leasehold Belgium Astrid Park Plaza Antwerpen Management Israel Park Plaza Orchid Tel Aviv Franchise 5,911

8 Hotels Construction Gear Construction Group Our in-depth understanding of the hotel sector led us to participate in the challenging hotel construction industry. Our subsiduary, GEAR, is dedicated to hotel construction, and through a very focused professional team, has mastered all the ins and outs of building to best market standards. Project Value While property construction and management may seem like two dissimilar capabilities, the application of expertise from one discipline to the other adds up to an equation where one plus one equal three. So our hotel construction business benefits from our attention to the quality and details that transform a tourist and business traveller s destination from just another hotel to prime accommodations. Our ability to achieve that extra touch economically is particularly impressive in prime locations in the UK, where discriminating travelers can choose from the top-of-the line. Our flexibility as developers and construction contractors is at this point noted. We can take on entire projects or just specific stages, where we add special value. Details Shaw Park Plaza GBP 42M 21,000 sqm, 312 guestrooms, Ballroom, 446 seat theatre, conference center, luxury restaurant Victoria Park Plaza GBP 48M 23,000 sqm, 300 guestrooms, 12 Suites, conference center, luxury restaurant Leeds Park Plaza GBP 20M 11,400 sqm, 186 guestrooms, conference center, luxury restaurant Sherlock Holmes Hotel GBP 10M Boutique Hotel, 6,500 sqm, 119 guestroom, 3 loft suites, luxury restaurant Nottingaham Park Plaza GBP 14M 8,800 sqm, 177 guestrooms, conference center, luxury restaurant Riverbank Park Plaza GBP 75M 35,000 sqm, 394 guestrooms, 66 apart-hotel suites, 3 Ballrooms, conference center, luxury restaurant Westminster Bridge GBP 255M 75,000 sqm, 1037 guestrooms, large ballroom, conference center, Park Plaza luxury restaurant

9 Hotels Renovation Available prime locations in bustling, often overbuilt business and tourism centers, are hard to find. Red Sea Group both eats its cake and has it by purchasing existing hotels and upgrading them to star status. Across Europe, from the UK and Holland to Germany, Red Sea Group has zeroed in on hotels in prime urban locations and transformed them into preferred accommodations for both business travelers and tourists. The Group factors ambience and comfort into a winning combination. These projects require, beyond management, fine taste and a correct assessment of trends in business and tourist markets. Thus engineers and interior designers work together, to express a message of quality and pampering surroundings at reasonable rates. Among the hotels renovated by GEAR are: Sherlock Park Plaza, London Victoria Park Plaza, Amsterdam Utrecht Park Plaza, Utrecht Mandarin Park Plaza, Eindhoven Wallstreet Park Plaza, Berlin

10 Real Estate Portfolios Timely refinancing, high potential locations and expert professional management enable us to optimize our real estate investments and exits. Foresight and insight are key to identifying sites that have hidden potential, and which the right development plan can build into a profitable venture. In the United States and Europe, we have quite an enviable track record for moving in at the right time in the right place, and exiting at a handsome profit. Our attention is focused primarily on residential and office or commercial properties. In the former, we seek locations which are attracting potential residents for their quality of life and, in many instances, promising work opportunities. Our office and commercial properties are acquired and managed with similar populations in mind. As sole owners or partners, we always seek to add value that will position us a step ahead of competitors. We seem to have developed a sixth sense of what will work best to add value that customers, be they individuals, families or business owners. will be willing to pay more for.

11 Real Estate Portfolios Residential and Commercial Development We choose our locations and target customers with care. Since all our residential offerings are built for sale, we reap rewards by attracting buyers through high standards and ambitious marketing. Choosing a home to buy is one of life s most serious personal and financial investments. That is why our progress in this sector has married ambition to caution. Thus, our residential development projects were first addressed at the market we knew best: Israel. You will find us throughout the country, with fully developed neighborhoods, landmark luxury towers and vacation apartments. We have, to date, built some 2,000 residential units (about 200,000 square meters) in Israel. We are indeed proud that our residential developments are chosen by discriminating customers who give us the ultimate compliment a developer can receive: they choose our offerings to be their home. As our familiarity with the taste, locations and pricing of overseas markets matured, we began to invest in development beyond Israel s borders. We have addressed both highly developed markets, such as the US, and newly emerging markets, such as Central Europe, and have added office and commercial property development to our portfolio in these markets. New pictures to be come New pictures to be come

12 ISRAEL highlights Among our most recent projects in Israel, are residential towers in one of Tel Aviv s most picturesque old quartiers. Offering magnificent views, and modern life, in a colorful ambience mixing the past and the avante garde, the towers have captured buyers who can afford to indulge in a special life style.

13 UNITED STATES highlights CENTRAL EUROPE highlights Our most ambitious project in this rapidly developing region will be a showcase of elegance, comfort and functionality. In one of Bucharest, Rumania s most prestigious areas, we are building a very large residential and commercial neighborhood of towers surrounded by beautiful green spaces. It will be the green heart of Bucharest, and is attracting a consistently high class group of potential home owners and businesspeople. The project features 3,500 units covering an area of some 400,000 square meters, with projected sales to total 720 million Euros. Sound planning, adherence to world class standards and professional project management are ensuring this major project s bright future. We already have positive experience in the region, having built some 140,00 square meters of commercial premises, primarily in Hungary. In the United States, one of our most ambitious projects, The Glen at Preston Hollow in the Dallas area, will transform a 43-acre site, into an in-town village. The Glen will feature 100 luxury single-family homes, and 1,100 multi-family units located primarily over commercial space. The retail area will create a special up-scale environment, with quality restaurants as the main draw, and boutique-style shops for a total leisure environment. The $300 million project will be a place where people can live, office and socialize all within walking distance.

14 Computer Data Centers In the market for advanced technology-supporting premises, we are making our mark in data centers, once known as server farms. They are increasingly in demand even in top price areas, as businesses rely more and more on their technology infrastructure. The data centers typically house computing, data storage and networking equipment that facilitate Web-based services and other Internet-related traffic.

15 Luxury Markets Luxury yachts are a symbol of achievement, and are identified with the wealthy and successful. This is a market that desires to be tempted, and we offer the dream response. Cyrus Yackts brings together the finely honed skills of traditional yacht-building with modern technology and management. Cyrus Yachts, with the on-side supervision and management of Vitters Shipyard, is building the new generation of luxury, semi-customized vessels, offering the most magnificent yachts in their class. A combination of sophistication and craftsmanship is creating the interiors and finish that select clients value in terms of appearance, comfort and exclusivity. Our standards and creativity in this demanding market have been confirmed by the award of a most prestigious prize to one of our models. Angel of joy received first prize in its category in an international luxury yacht competition sponsored by Bugatti. According to the judges This was a difficult class to judge in view of the finalists wide range of styles and the purposes for which they will be used. Naturally, these were taken into account when marking individual yachts and the results were extremely close. In the end, Angel of Joy took the prize with consistently high scores being recorded for exterior and interior design and layout. The Golden Anchor

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