As you are aware, Ariel Sands owners announced a joint venture with new investors and developers in March 2005. After almost 2 years of working through all the legal requirements and obtaining government approvals, we are planning to start construction of Ariel Sands Residence Club, Hotel & Spa in May 2008. It is with great excitement and sadness I inform you, Ariel Sands will be closing on January 1st, 2008. Sadness to see an era come to an end after 53 years and excitement to see a much anticipated project finally take off the ground.

The plans include a complete demolition of the property and constructing:

• 30 Two Bedroom Residences
• 30 Three Bedroom Residences
• 10 Hotel Guest Rooms
• New Spa & Fitness Center
• Tennis Courts
• Ocean Front Restaurant
• Infinity Edge Pool and Indoor Pool

The new 10 buildings will be strategically placed throughout the site to maintain the quaintness and intimacy of Ariel Sands, with all the accoutrements of a Five Star property, with giant plasma TVs, wet bars, magnificent views, terraces and designer kitchens just to mention some of the high-light. The time frame for the completion of this project is between 3 to 4 years.

Our Administrative and Sales offices will be open throughout the construction period, and we will keep you updated on our progress. Please do not hesitate to contact if require assistance in finding alternative accommodations on Island. We would like to thank you for choosing Ariel Sands as your home away from home, and look forward to welcoming you back to our new and luxurious resort in the future.

Sincerely,

Nagma Walker
General Manager