Ocean Front - Planning Permission

2 nd Floor, Government Administration Building, 71 Elgin Ave, Grand Cayman, Cayman Islands T: (345) 244-2250 F: (345) 949-8650 Email: [email protected] Website: www.gov.ky

Ref: S. 32 CL/LH

29 July 2008

Ms. Ann Murphy Bodden Corporate Services Ltd. P.O. Box 10335 Grand Cayman KY1-1003 Dear Madam: RE: OASIS LAND DEVELOPMENT LIMITED. Reference is made to your letter received 29 June 2008 with regard to the above. Exemption is hereby granted to Oasis Land Development Limited from the provisions of S. 32(1) of the Companies Law (2007 Revision) provided that the company’s Articles of Association continue to prevent the issuance of bearer shares, certificates or coupons. On this basis Oasis Land Development Limited may therefore own land in the Cayman Islands. Please note that should Oasis Land Development Limited transfer shares, the provisions of the Land Holding Companies Shares Transfer Tax Law (2007 Revision) will apply. Yours faithfully,

Kenneth Jefferson, J. P. Financial Secretary KJ/scb cc:

Registrar of Companies

CAYMAN ISLANDS GOVERNMENT

Our Ref:

DCB/06/08 Item 7.01

6th March 2008

Planning Department Cayman Islands Government

P.O Box 235 Cayman Brac Cayman Islands KY2-2101 1-345-244-4422

Oasis Land Development Ltd Box 2313 Grand Cayman KY1-1106 Re: Subdivision Amendment (One additional lot & designation of Lot 25 as LPP) CBE Block 109A Parcels 3 & 108 Dear Mr. Ball,

At a meeting held on the 3rd March 2008, the Board resolved to amend planning permission subject to the following conditions: Conditions 1-3 shall be met prior to registration of the lots. 1) 2) 3) 4)

The road shall be constructed and paved to PWD standards. All utility poles shall be installed. You shall comply with all requirements of the National Roads Authority. The surveyor’s inal drawing shall be submitted to the Planning Office for approval.

Respectfully yours, Andrea L. Stevens Executive Secretary For Development Control Board