Fund: US Government Real Estate SCA

Manager: Global Financial Associates, LLC

Co-Manager: AssetEstate

Legal Counsel: Arendt & Medernach, Luxembourg

Auditors: Ernst & Young, Luxembourg

Administrator: Citco (Luxembourg) S.A.

Management Fees: 0.75% p.a. of purchase price including debt

Performance Fees: 25% p.a. of the profits, after repayment of the original equity investment plus preferred return of 8%, with a clawback provision

Subscriptions: Closing Date: 1 July 2006 (estimated)

Valuation: Semi-annual management reports and annual audited financial statements

Structure: Luxembourg-based tax efficient structure

Term: Five-year term with two possible one-year extensions

Minimum Investment: Individual Investors: 250’000 USD

Institutional Investors: 1’000’000 USD

Currency: USD