22.0          Value Appraised

In my opinion the current open market value of the freehold interest in the subject property is as follows:

Land area: Lot 17 = 7,684

Land area: Lot 19 = 9,616

                     753,588 sq. ft @ EC $30.00 per sq ft= EC$22,607.640

            Total Property Value= EC$23,000.000 or US$8,614.000

TWENTY THREE MILLION EASTERN CARIBBEAN DOLLARS