This is to update you on the developments of Amara Phase 1, 2 & 3 as of July 7, 2008.

Amara Phase 1 Land Development:

-          Amara Clubhouse:

      - Swimming pool may already be used by the lot owner.

- Interior designing is already complete, ongoing installation of   Furniture & Fixtures

- Cleaning and housekeeping is being conducted on a regular basis.

-          Amara Landscaping:

- Softscape and Hardscape are both 100% completed.  Trees and ground covers are now evident.

Amara Phase 2 Land Development: Accomplishment

-          Activities:

On going installation of:

- Electrical & Telephone System

- Drainage System

      - Sewer System

      - Concreting of Sidewalk & Pavement

      - Perimeter Fence and Retaining Wall

-          Amara Sports Facilities

- On-going construction and finishing works of the three buildings (Basketball Court, Badminton Court and Fitness Gym)

-          Serenity Park

- Softscape and Hardscape works are ongoing.

Amara Phase 3 Land Development:

Notice of Award was issued to our General Contractor, Makati Development Corporation.

-     Accomplishment:

      - Road tracing & clearing are both 100% completed