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Strictly Confidential Monaco Capital Partners Ltd A Codima Group Company

Hong Kong Exclusive Properties Partners A family office fund US$ 10.000.000

November 2007 Preliminary presentation www.mcapital-partners.com


Disclaimer & Risk Factors This presentation (the “Presentation”) is not, and should not be construed as, an offer of interests or a solicitation of an offer to subscribe for or buy any interest or securities in the Fund or in any related or unrelated investment vehicle or entity. This Presentation is only intended for preliminary information purposes. This Presentation is only addressed to qualified investors. This Presentation is for the addressee only, is the property of Monaco Capital Partners Ltd (“MCP”) in any media, and may not be disclosed to any third party or reproduced in part or in whole without the written consent of MCP. Neither MCP nor any of the parties mentioned herein including their subsidiaries, affiliates, shareholders, directors or employees, nor any persons or professional firms directly or indirectly involved in any aspect of the Fund guarantee the accuracy or completeness of this Presentation nor do they make any representation in regard thereof, nor are they making any representation or providing any guarantee whatsoever as to the future economic performance of the Fund or as to whether the Fund will, at any time, in the future produce any return or other benefits to any potential participant or investor. This Presentation supersedes and cancels any presentation or information which may have been previously issued to anyone in relation to the fund in question (the “Fund”). The contents of this Presentation, including the terms of the Fund, are preliminary and subject to change without notice. This Presentation is intended for the addressee only and is not to be taken in substitution for the exercise of judgement by addressees, who are invited to obtain their own independent professional legal, financial and tax advice before contemplating any investment or participation. Neither MCP nor any of the parties mentioned herein including their subsidiaries, affiliates, shareholders, directors or employees, nor any persons or professional firms directly or indirectly involved in any aspect of the Fund accept any liability whatsoever for any loss which may arise from or in reliance upon the whole or any part of the contents of this Presentation. No person should rely on this Presentation or act upon its contents. Anyone contemplating a participation or investment in the Fund or any related entity should refer to the private placement/ information memorandum (which shall supersede and cancel this presentation). Any prospective participant or investor should understand that participating in the Fund constitutes a risky investment and is invited to conduct their own due diligence. The Fund’s sole purpose is to invest in “Exclusive HK Properties” (“EHP”), and its sole asset shall be the resulting participation in EHP. As a result, an investment in the Fund entails a high degree of risk and is suitable only for a sophisticated investor who fully understands the business of the Fund and of EHP and their risks, and is capable of bearing the risks of the investment, including the risk of total loss of the capital. There can be no assurance that EHP will be able to achieve part or all of its investment objectives or generate any profit for the Fund. Prospective investors should carefully consider all factors and potential conflicts of interest before making their investment decision, including economic and political risks connected with investing in HongKong, property market volatility in HongKong, currency risks, the uncertainty surrounding the availability of suitable property investments for EHP, the long term and illiquid nature of real estate investments, restrictions on transfer and holding of title, dependence on key personnel, interest rate volatility, inflationary impact on costs and in particular renovation costs. Monaco Capital Partners Ltd

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Hong Kong – a property hub in Asia

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The Proposition

Hong Kong Exclusive Properties Partners (the « Fund ») is established for the sole purpose of acquiring a substantial participation in Exclusive HK Properties (« EHP »). EHP buys undervalued, high-end properties in selected areas of HongKong, refurbishes and resells them (sometimes after holding them for a while for rent).

In Hong Kong, high end properties are in chronic under-supply. Demand is high and ever growing. EHP is managed by a group of Hong Kong-based professionals with substantial experience and track record in this activity (over 146% IRR and 5.5x in previous fund).

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Table of Contents

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The High End Property Market in Hong Kong

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EHP Business Strategy

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EHP Structure

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EHP Track Record & Management Team

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Fund Structure

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Fund Sponsor´s Management Team

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Fund Terms

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1 – The High End Property Market in Hong Kong

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Hong Kong – recent trends

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Center of prosperity

6th highest per capita GDP in the world, ahead of Switzerland, Denmark and Japan. Over 67,500 millionaires (US$ based) out of a population of 6.9 million

World business hub

In 2006 3,845 regional HQs/head offices. 114 consular representations in Hong Kong (more than any other city in the world). 11th largest trading entity in the world. Asia’s logistic centre: World’s #2 container port and #1 cargo airport;

Asia’s financial center

Leading financial centre of Asia, (City of London’s Global Financial Centres Index); in 2006 the value of HK’s IPOs was only second to London. Asia’s professional centre – international law firms, auditors, M&A, venture capital, financial & tax advisors, fund managers. Asia’s centre for banking, stock, gold, & diamond exchanges, loan syndications

Spillover from China’s success

Most prosperous Chinese city. Economic & manufacturing powerhouse for Southern China. Home-base of many Chinese factory-owners, entrepreneurs, traders, & financiers

“Sales of properties above HKD 20 million increased through the quarter… During the quarter, capital values for luxury properties rose by 5.1%. Demand for high-end properties remained strong for the leasing market, with those on Hong Kong Island particularly soughtafter. Capital values for the overall residential market will continue to grow while rental values for luxury properties will continue to trend up, on the back of the inflow of expatriates and the tight supply”

Capital Value (Q on Q)

Rental Value (Q on Q)

Luxury

+5.1%

+1.9%

Large and luxury

+3.5%

+2.0%

Sector

Comments by Mr Lee, Head of Research, Greater China at J. Lang LaSalle.

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A favorable environment

High and growing demand

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   

Heavy influx of senior financial executives and professionals New rich from China looking to establish themselves in HongKong Limited & expensive developable land result in supply-demand imbalance. Huge demand, shortage of high end units and constant upward pressure on high end properties  High rental support for holding period

Favorable borrowing environment

 Banks flush with funds, leading to very low lending rates  Mortgages at prime minus 3%

Well established regulatory environment

   

Fiscal and other advantages

 No tax on capital gains  No interest tax (deposit income on rents)  No dividends tax (on distributions)

Very sophisticated business environment Leading sector in one of the world’s most modern and booming cities Clear property laws: titles, transfers, & landlord-tenant regulations No rent control, no sitting tenants

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2 – EHP Business Strategy

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Investment Strategy

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Key Drivers  Due to physical/geographical limitations this segment is always in high demand

Invest only in top locations & high end luxury

 HNWI are always looking to buy high end property in Hong Kong  This category of property is relatively undervalued compared to other major metropolitan cities such as Tokyo, London and New York.

Identify mis-priced, undervalued units/apts.

There is additionial value to be unlocked in properties that have been left un-renovated for several years, and which have become second homes to their owners.  HNWI and institutional investors do not have the time/resources to undertake renovations

Renovate with costeffective design

 EHP has a team of trusted and tested craftsman to execute renovations. Turnaround time for renovating a unit is usually around 3 months. The use of moderate leverage will allow investors to ride out fluctuations in price, and keep interest costs to a manageable level

Leverage and portfolio size

The total capital size of EHP is planned to be $30m. With 70% leverage, EHP could potentially own a 100m$ portfolio of properties. The average value of an apartment is $2m, which translates into a portfolio of approximately 50 apartment units.

Allow rent revenues to service loans

There is a constant, sustainable demand from HNWI and expatriates on housing allowances which allows interest costs to be covered by rental revenues

Exit through sales to executives, HNWI and funds

Exit through the timely sale of individual properties, or else through the sale of the bulk of the portfolio to larger real estate institutional investors (funds etc) Monaco Capital Partners Ltd

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Investing in Exclusive Properties

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High-end properties keep value better

Limited time & and knowledge of investors regarding property investments

Hedged rental income flows

Investment in a diversified lowleverage portfolio of high-end products

Safer investment & holding capacity through down cycles

Participate in a pool for low minimum investment

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Investment Strategy

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Execution  Focus on areas of HK well known to EHP management  Identify undervalued properties which also need refurbishment.

Step 1:

 There is ample supply of such properties in the selected areas

Identify and acquire suitable properties

 EHP’s team has demonstrated savvy in identifying such properties and acquiring them at advantageous prices  EHP enjoys privileged relationships with several local banks enabling it to secure finance at favorable terms

Step 2: Cost-effective renovation

 Only refurbishment, no structural redevelopment work  EHP team experience in organizing such refurbishments, managing local contractor teams, controlling costs, quality and deadlines  EHP avails itself of 3 experienced renovation crews with which it has a long business relationship  EHP’s team has demonstrated savvy in undertaking and completing renovations in a cost effective and timely fashion

Step 3: Exit

 Unlock double whammy from having bought undervalued and having added refurbishment value  Plenty of demand from wealthy individuals, companies but also from property investment funds who do not undertake refurbishment work  EHP avails itself of a network of brokers, agents and property salesmen with whom it has developed a long standing business relationship  EHP’s team has demonstrated savvy in finding individual and institutional buyers and negotiating favorable sales terms Monaco Capital Partners Ltd

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Investment Locations

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Focus Locations

Hong Kong

 Peak/

Focus Locations

Mid-Levels: Barker, Magazine Gap, Bowen, Macdonnell and Kennedy

 Repulse

Bay & South Island’s expatriate areas

 Beginning

sections of Conduit & Robinson

 Opportunistic

situations such as Urban Renewal Authority projects

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3 – EHP Structure

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Overall Structure

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Other shareholders, and investors including Veritas Advisors

HongKong Exclusive Properties Partners

Manager Commence Company Ltd.

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“EXCLUSIVE HK PROPERTIES”

Investment Advisor Veritas Advisors

(EHP)

Investment Committee

Bank Financing

Local Company

Local Company

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Local Company

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Investment Management | EHP

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 Over 30 years experience in investing in luxury property in HongKong. Impressive track record. Not a single losing investment  Expert knowledge of focus areas (knows basically every building in the selected areas). Demonstrated ability to execute the entire process: identifying, acquiring, The Investment Advisor: VERITAS ADVISORS LTD.

renovating, renting, selling.  Solid local network of property agencies, banks, law firms, audit/tax advisors, designers, contractors, maintenance crews, HR re-locators etc. In house staff with solid experience in administration, accounting & proeprty management  Its role is to invest the funds of EHP in real estate  The Investment Advisor aligns its interest with EHP by investing 10% of the total capital committed to EHP

The Manager: COMMENCE CO. LTD.

 Established in HongKong for several decades. Regulated and supervised by the HK Securities and Futures Commission  Experienced staff to handle the administration of a large portfolio of real estate, including accountants, administrators, licensed property brokers etc.  Its role with EHP is the overall administrative and financial project management for EHP, including shareholders communications, securing bank loans, relationships with professional firms and service providers, reporting etc.

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4 – EHP Track Record & Management Team

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Track Record | Advisor

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Phoenix Investment Performance (in million US$) Investment Period 04/2002 – 10/2004

Committed Capital

Total Capital called

Net Profit Distribution as % of Total Capital Called (after all expenses, Mgmt Fees and fund taxes)

Average Leverage

Realized IRR

Multiple

$ 12.3

$ 11.7

239 %

52 %

146,4 %

5.5 x

 Phoenix Fund was formed end of March 2002 and is owned by Golamco family  Anthony Golamco (Principal of Veritas Advisors) was Managing Partner  IRR of 146,4 % realized (per 31st of December 2006)

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The HK Property Team Anthony Golamco Niklaus Dali Leo Barretto Stephanie Golamco Amy Hui Susanna Lung Alberto Lo Bernard Pouliot

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Anthony Golamco

Niklaus Dali

Principal of Investment Advisor and Manager

Board of Directors

Mr. Golamco has over 30 years of experience in finance and real estate. He set up the Hong Kong operations of The SGV Group, which was at that time, the largest auditing and consulting firm in Asia. He was Managing Partner for the Hong Kong branch for seven years. In 1979, he founded Commence which provides strategic planning and business services to assist US and European companies in establishing their Chinese and Asian operations. He continues as its Chairman and Managing Director.

Mr. Dali established his career in the textile industry, where he has been working for more than 25 years. For 12 years, he was responsible for a textile trading company based in Switzerland; during his tenure at this company, he raised the company’s turnover from US$ 5 million to US$ 100 million and developed its foreign market activities. After that he became partner of another trading company. During his 14 years tenure the turnover increased from US$110 million to over US$ 300 million, and became one of the world market leaders in its field.

He is a registered investment advisor with Hong Kong’s Securities & Futures Commission. Specialized in corporate structuring and familiar with tax, legal and business operation matters. Mr. Golamco also has extensive experience in property investing, both in Hong Kong and mainland China. There he is involved in residential and commercial property investments.

In addition to his career in the textile industry, Mr Dali runs numerous real estate projects with his partners in Switzerland, Germany, Bulgaria and Hong Kong. As Swiss citizen, Mr Dali has been a Hong Kong resident since 2003, looking for new ventures.

Mr Golamco holds an MBA from Harvard Business School and a BSc in Engineering (summa cum laude)

Jonathan Li

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The HK Property Team Anthony Golamco Niklaus Dali Leo Barretto Stephanie Golamco Amy Hui Susanna Lung Alberto Lo Bernard Pouliot Jonathan Li

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Leo Barretto

Stephanie Golamco

Board of Directors

Veritas Advisors

Mr. Barretto was born in Hong Kong and educated in UK. He worked in London as a consultant architect on commercial and residential investments before returning to Hong Kong in 1980. In the last 25 years he was the principal partner of one of the longest established, largest architectural practices in Hong Kong with offices in China, Thailand, Burma and the Middle East. He is specialized in managing the design and supervision teams of large complex projects from a wide range of clients. He is a member of the RIBA, the RAIA and a former council member of the Hong Kong Institute of Architects. Furthermore he has been an advisor to a number of Hong Kong government agencies in the construction industry. Completed projects include the development of the Janadriyah Racecourse in Riyadh, Saudi Arabia (value US$ 250 million), the BCCI Tower (Bahrain Chamber of Commerce and Industry – value US$ 50 million), the Al Shaqab Academy in Doha/Qqtqr (Vqlue US$ 400 million) and the Jeddah Riviera Centre in Saudi Arabia (value US$ 150 million).

Ms. Golamco has over 10 years experience in alternative investments. Most recent, she was founding member of Allianz Hedge Fund Partners, the hedge fund arm of Allianz, where she was a Partner in the Business Development team. Ms. Golamco was the primary liaison with investment banks for creating structured products tailored to clients needs, including capital guaranteed and leveraged solutions.

Mr. Barretto’s major projects in Hong Kong include the Grandstand 2, the stables, the equine hospital and the central administration complex for te Hong Kong Jockey Club at Shatin (value HKD 1.5 billion) and the new TVB City at Tseung Kwon (value HKD 1 billion)

Prior to that, she was Assistant Vice President at Citibank in the former Alternative Investment Strategies unit as part of the European Field engineer team. At Citibank, Ms. Golamco’s team was a first mover in many innovative alternative investment products, including structured investment vehicles, CLOs/ CBOs, fund of hedge funds and managed accounts. Before Citibank, Ms. Golamco worked as an economic consultant at the United Nations Conference on Trade and Development (UNCTAD) in the Privatization Unit, which offered advice to countries on developing infrastructure through private means. Ms. Golamco received a BA degree in International Relations (with honours) from Brown University. Ms. Golamco has also received the Chartered Alternative Investment Analyst designation, as well as the Chartered Financial Analyst designation.

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The HK Property Team Anthony Golamco Niklaus Dali Leo Barretto Stephanie Golamco Amy Hui Susanna Lung Alberto Lo Bernard Pouliot Jonathan Li

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Amy Hui

Susanna Lung

Veritas Advisors

General Manager of Commence Company Ltd.

Ms. Hui started her career in a law firm. She has extensive experience in professional services including conveyance and property management, business advisory, company incorporation and corporate secretarial functions.

Ms. Lung has been working with Commence Company Ltd. Since its establishment in 1979. As a director she is overseeing the company´s business turnover and supervising its day-to-day operations. Ms. Lung specializes in providing a broad range of services from the incorporation stage to the handling of transactions. She is familiar with the laws and regulations of different jurisdictions, including the British Virgin Islands and Hong Kong.

In recent years, Ms. Hui mainly focused on real estate investments and participates actively in the sale and acquisition of property for clients. She has extensive knowledge of the Hong Kong property market and is actively involved in managing the real estate projects of clients during sale and purchases, obtaining and coordinating mortgage arrangements; renovation of premises and negotiation of rental contracts; dealing with the legal aspects with law firms. She is also familiar with the regulatory issued in Hong Kong. Ms. Hui holds an Estate Agent´s License. Ms. Hui completed her studies in IBAM´s Advance Diploma in Business Administration with School of Continuing and Professional Studies, The Chinese University of Hong Kong.

Ms. Lung is licensed as a Responsible Officer with the Hong Kong Securities & Futures Commission (SFC); she specializes in ensuring good corporate governance and maintaining full compliance with all regulatory requirements including laws, rules, regulations and codes of the SFC. Ms. Lung also holds an Estate Agent´s License. She administers the business affairs of various clients with different types of transactions in a variety of industries, including: investment (real estate, shares and stocks), financial consultancy and banking. She oversees international transactions involving fund transfers, letters of credit, financial futures and commodity trading. Ms. Lung also coordinates with accountants/ auditors to arrange for client´s financial statements and tax returns filings to be completed. Ms. Lung completed her study in Business Management at the Chinese University of Hong Kong.

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The HK Property Team Anthony Golamco Niklaus Dali Leo Barretto Stephanie Golamco Amy Hui Susanna Lung

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Albert Lo

Bernard Pouliot

Head of Accounting, Commence Company Ltd.

Member of Investment Committee

Mr. Lo has been in the accounting profession for over 20 years, including 3 years with Hang Seng Bank in its foreign exchange section and 27 years heading the Financial Department of Commence Company Ltd. He specializes in financial reporting, cash & banking, payroll, billing, budgeting & forecasting, financial analysis, information system, risk management and strategic planning. Mr. Lo is proficient in preparing, reviewing and filing interim and year end financial returns with the Hong Kong Securities & Futures Commission.

Mr. Pouliot is Canadian origin, born in Montreal 1951. He graduated from the University of Quebec in Business Administration. He is living in Hong Kong since 1979 and worked at the beginning as Vice President & Branch Manager of a Canadian bank, which was involved in corporate lending.

Mr. Lo has extensive management experience in financial accounting and reporting functions. He has handled over 150 medium sized clients in a range of different industries.

After leaving the company in 1998, he joined Quam Ltd., a HK listed company, as Chairman and CEO. The company operates as an integrated financial services group, offering its services in the field of corporate finance, securities and futures trading, wealth management and credit monitoring under the banner of Quam. It operates also the most popular financial website in Hong Kong under the name of www.quamnet.com

Bernard Pouliot

Mr. Lo has been actively involved in a property fund project. His role includes cash management, bookkeeping and management accounting; preparing quarterly and annual full sets of financial statements for the holding company as well as for each property holding subsidiary, and the coordination of audit and tax management.

Jonathan Li

Mr. Lo is a student member of ACCA and undergraduate in Management Studies at the South China University of Technology.

Alberto Lo

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In 1984, he joined a HK publicly listed company where he acted as the Group Managing Director for 15 years. The company, a conglomerate, was involved in four different lines of businesses: agri-manufacturing, industrial product distribution, car parking management and capital markets – through its securities brokerage and asset management arm.

Mr. Pouliot is also active in the community where holds positions as trustee for Outward Bound, director of Alliance Francaise and acts as director on a number of privately owned listed companies. He was Chairman of the Canadian Chamber of Commerce in Hong Kong until the 20th of June 2007, after having assumed the presidency in 2005. He is also a member of a number of social & private clubs.

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The HK Property Team Anthony Golamco Niklaus Dali Leo Barretto Stephanie Golamco Amy Hui Susanna Lung Alberto Lo Bernard Pouliot Jonathan Li

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Jonathan Li Member of Investment Committee Mr. Li, Chartered Surveyor, is the founder & CEO of Jonathan Li Surveyors Lts, an integrated property consultancy focused on selling, acquiring and developing major properties for private investors and financial institutions in Hong Kong and China. Since October 2003, he has successfully handled property transactions with a total consideration of more than HKD 4,8 billion (more than US$ 6 billion) He was Executive Director of Knight Frank (previously know as Chesterton Petty) and as Head of Asset Management and Investment Services (2002-2006), he supervised the administration and marketing of distressed properties, property leasing and portfolio management in Hong Kong and China. Prior to that, Mr. Li served at the Standard Chartered Bank as well as The Hong Kong Bankg (HSBC) as Senior Manager (1981-2002), where he managed the Bank´s valuation, estate management, leasing and marketing, and overseas property marketing departments. Mr. Li was responsible for HSBC´s property portfolio in Hong Kong, Macau, mainland China and the 18 overseas offices in Asia. He was also personally involved in HSBC´s major property acquisitions and disposals. the presidency in 2005. He is also a member of a number of social & private clubs.

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5 –Fund Structure

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Structure of the Fund

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Investors/ Participants

Sponsor

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Family offices Private wealth managers Others

HongKong Exclusive Properties Partners (the « Fund »)

Secure/ execute allocation in EHP

Only asset is participation in EHP

Management of the Fund (as Co.)

Established by MCP

Monitor EHP Reporting Final distribution and liquidation

EXCLUSIVE HK PROPERTIES (« EHP ») Established by Veritas Advisors Monaco Capital Partners Ltd

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The Fund | Sponsor

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 Hong Kong Exclusive Properties Partners (the « Fund ») is established for the sole purpose of acquiring a substantial particiation in « Exclusive HK properties » (« EHP »).  The Sponsor of the Fund is Monaco Capital Partners (« MCP »)  The role of the Sponsor is to structure the Fund, secure the allocation in EHP, which itself is a fund, manage the corporate affairs and reporting of the Fund, oversee the business of EHP, and at the end of EHP’s term, liquidate the Fund’s participation and ensure relevant distributions to the Fund’s investors/shareholders Monaco Capital Partners Ltd (“MCP”), is a CODIMA Group Company. MCP creates and launches specialty funds, focused on Asia. The Asia Select GP investment team comprises a former Private Equity fund-offunds manager, former investment bankers, strategic consultants, an entrepreneur and an Asia specialists of private equity and other types of investments. www.mcapital-partners.com

CODIMA SAM is a Monaco-based private firm specializing in business involving Asia and Europe and involved in various activities including private equity, property and other funds; venture capital and entrepreneurship; merchant banking and strategic advisory type activities. Codima avails itself of a first class network of private and institutional investors, of privately held and public companies, and of financial institutions in Europe as well as in Asia, and is managed by professionals with a vast experience of business and investments in both regions. www.codima.mc

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6 – The Sponsor’s Management Team (*)

(*) Included herein is only personnel of MCP which shall directly be involved in this Fund

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The HK Property Team

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Francesco M Bongiovanni

Marco Fiorese

Markus Schuller

francesco@mcapital-partners.com

marco@mcapital-partners.com

mschuller@mcapital-partners.com

Vice-President of Monaco Capital Partners Ltd. He worked for almost a decade in Hong Kong and Shanghai advising multinational and domestic corporations on industrial and joint venturing projects in China – mostly for European companies - and South East Asia. He implemented major investment projects in China in a broad range of industrial and services sectors, including telecom, media infrastructure, machinery and consumer goods. He also founded several entrepreneurship activities in Europe and Asia.

Senior Analyst at Monaco Capital Partners. Markus started his professional career as an Equity/Options Trader at the Austrian Volkskreditbank. He was successfully trading a broad range of European and North American markets. Furthermore at the Private Banking Team of Hypo Landesbank, he was responsible for Market Research of Equity, Bond and Derivative markets.

President of Monaco Capital Partners Ltd. Former investment banker with Dillon, Read & Co. in New York and London, where he was involved in corporate finance, M&A and new issues of securities. Over 15 years experience in business in Asia, including pioneering industrial joint ventures in food processing and packaging in China in the early ’80s. Entrepreneurship activites in various industries including the founding of a chain of Asian fast food restaurants. Francesco holds an MBA from Harvard Business School and engineering Doctorate from the University of Genoa, Italy. President of Compagnie d'Investissements Monaco-Asie (CODIMA). Vice-president and co-founder of the Monaco Venture Capital and Private Equity Association (MVCA). President of the Monaco Asia Society, a non-profit organization active in humanitarian and environmental projects.

Marco holds a Doctorate in Economics at Bocconi University in Milan, Italy and PGL at Harvard Business School. Vice President of CODIMA. Vice President of MAS. Co-founder of MVCA.

Monaco Capital Partners Ltd

Markus holds a MSc in Financial Engineering and a MBA (specializing in Hedge Fund Management and M&A) at International University of Monaco. Before that he studied Business Administration at Johannes Kepler University in Austria and at University of Pittsburgh.

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7 – Terms of the Fund

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Key Terms of the Fund (I)

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Important note

Hong Kong Exclusive Properties Partners (the “Fund”) is established for the sole purpose of acquiring a substantial interest in “Exclusive HK Properties” (“EHP” | itself a fund). As a consequence, the terms of the Fund generally reflect the terms of the EHP fund participation.

Fund name

“Hong Kong Exclusive Properties Partners, Ltd.” (or any name otherwise deemed suitable by the Sponsor)

Fund Sponsor

Monaco Capital Partners Ltd (“MCP” | MCP is not a regulated firm)

The Sponsor shall also manage the Fund’s corporate affaires and reporting and oversees

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the proper management of the Fund’s asset by EHP Domicile

The Fund is a limited liability company to be incorporated in the BVI (to be confirmed)

The Fund issues shares to the participants/investors/shareholders, in proportion to their participations

Fund Size

US$ 10 million (minimum $5 million)

Minimum participation

US$ 2 million per participant

The entire capital shall be immediately invested by participants/investors into the Fund in one time

Structure

Capital Calls

The above terms and conditions are preliminary and are subject to change, up to final documentation.

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Key Terms of the Fund (II)

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Investment Period of EHP

3 years or upon investment of 70% of capital, whatever comes first

Fund Term

6 years (plus two eventual 1 year extensions to reflect eventual extensions by EHP)

Reporting

Marketing and organization Fee

One time upfront fee of 0.5% of total capital invested in the Fund payable to the Sponsor

1% of the invested capital (during the Investment Period), 0.75% of the net asset value (EHP) thereafter Payable semiannually in advance to the Sponsor

Sponsor Management Fee 

Fund Expenses

Shall reflect reporting by EHP, and periodically provide net asset value

The Fund itself shall pay all related corporate set-up and maintenance expenses including incorporation, documentation, legal, accounting, auditing, banking fees etc.

The Fund itself shall pay EHP’s yearly Management Fee and Investment Advisor Fee, totalling 2% of committed capital during the EHP investment period, and 1.5% of NAV thereafter

The above terms and conditions are preliminary and are subject to change, up to final documentation.

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Key Terms of the Fund (III)

Distributions

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Any amounts distributed by EHP to the Fund shall immediately be distributed as follows: first to the participants/investors in the Fund until they recover their initial investment plus a hurdle rate of 8%, then, any amounts leftover shall be split as follows: 90% to the participants/investors, and 10% to the Sponsor Note: EHP charges a performance fee of 20% of returns after an initial hurdle rate of 8%, follwoed by 2% catchup.

Legal advisors, bankers, auditors etc.

Documentation

TBD

Fund’s Shareholder Agreement (technically this is a company, not a fund), Information memorandum, Subscription Agreement, and other appropriate documentation

The above terms and conditions are preliminary and are subject to change, up to final documentation.

Monaco Capital Partners Ltd

(32/33)


Contact Details

For more details, contact: Mr Francesco Bongiovanni President Monaco Capital Partners 3/9 Bd des Moulins MC 98000 Monaco Tel: +377 9999 6550 Fax: +377 9999 6551 Email: francesco@mcapital-partners.com Web: www.mcapital-partners.com

Monaco Capital Partners Ltd

(33/33)

MCP Property Fund Presentation  

MCP | Hong Kong Land - Product Presentation

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