The objective of Sun Resorts International "SRI" is to make strategic investments in quality marina properties throughout the world that satisfy a particular market niche. The primary investment strategy is to make investments that provide stable initial returns with the opportunity to enhance yields through diligent and efficient management and comprehensive operational strategies. SRI, through its investment entities, currently has a portfolio of twelve marinas located in Texas, Florida, and the Caribbean representing a total market value of approximately $95,000,000. These marinas have over three thousand boat slips that include wet slips, dry slips, covered slips, and uncovered slips. SRI marinas can accommodate boats ranging from small ten foot boats to mega yachts over 200 feet in length. Sun Resorts International marina investments exhibit the following proven characteristics:

• Location - Acquisition candidates for the SRI portfolio are situated in superior waterfront locations on dynamic water recreation locales. SRI properties are typically surrounded by established resorts or affluent residential communities. SRI's market focus is on existing marina facilities around the world, with a primary regional focus on the Southern United States and the Caribbean. SRI's portfolio has capitalized on in-depth market research covering retirement and leisure trends and favorable economic climates in target areas. SRI marina investments are thoroughly researched for long term viability in a variety of economic conditions.

• Barriers to Entry - The current environmentally-conscious legislative climate and well-documented over-utilization of the United States' most popular inland lakes and coastlines have created an atmosphere where new development is strictly limited by regulation and a lack of developable waterfront sites. Various moratoriums have been enacted to prevent the development of additional waterfront boating facilities.

• Demand for Boat Slips - Over 68 million Americans continue to participate in recreational boating each year. Between 1999 and 2002, total retail sales on boating increased 39% to $30.3 billion. Demand for recreational boating has created a capital growth environment within the marina industry that was unseen in previous decades. As more luxury boats are introduced to the water, the availability of boat slips is quickly diminishing and new marina development is closely controlled. According to Boat US the country's largest recreational boat-owners' association, the number of boats have grown by 300,000 since 2001, while supply of boat slips has remained steady. In select markets, the demand for recreational boating and the short supply of slips should sustain the long term economic strength for marina slip rentals and various other ancillary profit centers.

• Operational Excellence - All SRI portfolio assets are professionally managed by Sun Resorts Management ("SRM"), an SRI subsidiary company with a proven track record for successful hands-on marina operation. Superior marketing plans for increased consumer/boat traffic, inventory controls for ship store retail and service department profit centers, overhead and labor streamlining, and automated accounting systems are integral to SRM's bottom-line approach to operations management.

• Benefit of Experience - While the management of each marina investment presents its own unique set of challenges, SRI brings years of experience with successful operations from the existing portfolio and a staff of seasoned operators. SRI Management belongs to numerous industry associations including the Marina Recreation Association, National Marine Manufacturers Association, Marina Operators Association of America, and the International Marine Institute.

• Superior Returns - Compared with the returns offered by traditional multi-family, office, or retail investments, the returns of the real estate-related marina business are more compelling, and in many aspects offer less risk than comparable sized real estate investments. SRI mitigates risk through experience, management expertise, and scrutinized underwriting. SRI marina investments have consistently provided higher returns than typical real estate investments.

• Unexploited Marketplace / Inefficient Market - While marina portfolio growth is hampered by inherent market inefficiencies, it is also slowed by the lack of institutionalized sellers and long-entrenched brokerage service firms. This factor presents an opportunity for SRI to capitalize upon one of its competitive advantages: institutional acquisition techniques coupled with entrepreneurial speed. Garnered from the acquisition of a variety of marina types, long-held lender relationships, and advanced financing options, SRI pursues marina investments with unparalleled effectiveness in an inefficient market.