III. TECHNICAL SPECIFICATIONS

1. Integration of Tourist Unit on Concession………………………………                      1
1.1 Area outside Concession – Casino Area………………………………….                       1
1.2 Restrictions and Conditions on the Development of certain Activities in   2
       Tourist Unit Area ………………………………………………………
2. Overall Exploitation Plan ……………………………………………..........                      2
2.1 Business Plan – Business Strategic Unit ………………………………….                    3
2.2 Initial Investment Plan ……………………………………………………….                            3


1. Integration of Tourist Unit on Concession

   The Tourist Unit on Concession identified as “Hotel Provincial Sierra de la
   Ventana” and “Parque del Hotel Provincial Sierra de la Ventana”, according to the
   Plans included as Annex A, is composed of:

      Hotel Provincial Sierra de la Ventana: Plat Description: Circ. IX – Sección B –
      Quinta 15, Mza. 15 b, Parcela 1a – Pda. 537.
      Parque del Hotel Provincial: Plat Description: Circ. IX – Sección B – Quinta 15,
      Mza. 15 a, Parcelas 7 a 10, Pdas. 6877/80.

   During the period of Concession of the Tourist Unit, the Concessionaire shall be
   entitled to use the trademarks “Hotel Provincial Sierra de la Ventana” and
   “Parque del Hotel Provincial Sierra de la Ventana”.

   1.1. Area outside Concession – Casino Area

      Commercial exploitation and use of a building area of approximately 732 m2,
      located on the ground floor and at present occupied by the Instituto de Lotería
      y Casinos (in English, Institute of Lottery and Casinos) for the operation of the
      Casino, are not included in this Concession.

      It is expressly stated that:

      1.1.1. The Institute shall be in charge of the conservation, remodeling and
             maintenance of the building structure and the safety conditions of the
             Casino Gaming Room;
      1.1.2. The Instituto de Lotería y Casino (article 37 of the Constitution of the
             Province of Buenos Aires) shall be exclusively in charge of the
             operation, opening hours, time of the year to open and close the
             Casino Gaming Room.
      1.1.3. The Institute shall equip and maintain an adequate dressing and
             resting room for the staff;
      1.1.4. The necessary expenses and costs for the operation of the Casino,
             including but not limited to electricity, heating and water services, shall
             be paid by the Concessionaire;
      1.1.5. The Concessionaire shall not restrict access to the Casino to visitors or
             limit the use of WC public facilities placed inside the Hotel Building to

                the people who visit the Casino.

   In case of cessation of the use of the Casino in the area outside this Concession,
   whether seasonal, temporary or final, the competent authority is entitled to
   dispose again of the area with the same obligations for the Concessionaire.

   1.2. Restrictions and Conditions on the Development of certain Activities
        in the Tourist Unit Area
      1.2.1. The main activity of the Tourist Unit on which the interested people
             should base their Overall Exploitation Plan is the Tourist
             Accommodation Facility in its types: Hotel and/or Apart Hotel.
      1.2.2. In case the Overall Exploitation Plan includes the use of the “Parque
             del Hotel Provincial Sierra de la Ventana”, it shall comply with the
             following conditions and restrictions:
 It shall not build any construction that may obstruct or change the
                   current view of the front part of “Hotel Provincial Sierra de la
 It shall place facilities within the assigned lot, which shall be
                   properly demarcated.
 It shall supply areas for public traffic in general and free spaces for
      1.2.3. The necessary safety measures should be taken to avoid any type of
             accident which may occur related to the swimming pools, twenty four
             hours a day, throughout the year.
2. Overall Exploitation Plan


   According to Section 2 – Specific Conditions, in order to enable the formulation
   and presentation of the Overall Exploitation Plan and ease its evaluation, and
   notwithstanding the concession period established in Section 1.3 – Specific
   Conditions, it shall be composed of the following:

      •     Business Plan, which should be prepared and formulated based on the first
            ten (10) years, considering the date of transfer of possession as the
            theoretical initial moment, determining and defining the Business Strategic
      •     Initial Investment Plan, necessary to achieve the refunctioning and

      authorization of each Unit, according to the building restoration, adaptation
      and improvement parameters.

The Concessionaire shall be responsible for the maintenance and conservation of
the Tourist Unit; for this purpose, it shall meet the criteria set forth in the Bidding
Documents and the guidelines established in the preparation of the Architectural
Preliminary Plan for Building Restoration, Adaptation and Improvement, approved
at the time of its Award, in order to comply with the required improvement.

Regardless of the documents which support the formulation of the Overall
Exploitation Plan submitted by the Bidder, in order to compare the various
estimates to determine the best proposal, the Pre-award Special Committee may
use official or publicly known statistics that is deemed appropriate in order to
assess the sustainability of the implicit hypotheses in each of the submitted

2.1. Business Plan – Business Strategic Unit
   2.1.1. In formulating of the Business Plan, the Offeror should: include among its BSU, a Tourist Accommodation Facility (at least a
             3-star Hotel and/or Apart Hotel). determine the surface area of each Tourist Unit assigned to each
             BSU, properly quantified and articulated with the Architectural
             Preliminary Plan for the Building Restoration, Adaptation and
             Improvement (Section 2.2.1 – Technical Specifications).
   2.1.2. The activities or processes related to or identifiable with one of the
          BSUs defined in Section 2 – Specific Conditions should be presented
          as associated with said BSU and not as uses integrated in another
2.2. Initial Investment Plan

     The Initial Investment Plan, which shall take into consideration and comply
     with the conditions of Minimum Investment and Maximum Execution Term,
     required by Section 1.5 – Specific Conditions, shall be integrated by the
     amounts it is expected to demand for:

        •   the preparation of the Architectural Preliminary Plan for the Building
            Restoration, Adaptation and Improvement;
        •   the acquisition of capital assets.

2.2.1. Architectural Preliminary Plan for the Building Restoration,
       Adaptation and Improvement


      The proposal for restoration, remodeling and refunctioning of the
      Tourist Unit shall be developed through descriptive specifications in
      which the main aspects, the chosen technology, materials to be used,
      the general criteria for the treatment of spaces, finishing levels, the
      evaluation of the structure behavior to the new stresses, the
      intervention on the various facilities and all other aspects which may
      aid overall comprehension of the work proposed for the complete
      period of concession, should all be specified.

      To this end, the design must be adjusted to the following conditions
      and restrictions:

      •   Works to be carried out on the Building, including extensions if any,
          shall observe the external appearance of the Hotel.
      •   In case of works to be built within the area belonging to “Hotel
          Provincial Sierra de la Ventana”, Section 1 – Specific Conditions:
             •   Works should not affect the object of concession;
                 consequently the activities to be developed should be
                 related to the tourist hotel operation, Section 1.2.1 - Specific
             •   They should guarantee, at least, the same Casino facilities
                 and services to those existing at present, in a minimum
                 surface of one thousand square meters (1000 m2) if the
                 works are intended to change the Casino operation to that
                 place. In this case:
                    o Both the project and the final work should be
                      approved by the Instituto de Lotería y Casinos;
                    o The space should be assigned free of charge;
                    o Sections 1.1.1 a 1.1.5 of Technical Specifications
                      shall be applicable as well.
             •   They should conform to the Territorial Regulation Plan of the
                 Territory of Sierra de la Ventana, Municipality of Tornquist
                 (Municipal Regulation 1461/02, ratified by Decree 1821/02
                 of the Governor of the Province).

•     Any possible work to be done in the “Parque del Hotel Provincial
      Sierra de la Ventana” should observe the restrictions established in
      Section of Technical Specifications and the aforementioned
•     Restoration works should be carried out preferably with original
      materials and shall include finishing and decoration.
•     Specialized labor must be in charge of the execution of the
      proposal. No strange elements which may alter the original design
      of the building, such as advertising, banners, fittings, etc., shall be
      allowed on the façade, except those expressly authorized, on an
      individual basis, by the Grantor.

Proposal documents shall include the following: Complex Architectural proposal to work on the building, through
               plans, sections, views and perspectives, on a preliminary
               plan level, according to the descriptive specifications as
               defined in Section 2.2.1 – Specific Conditions and Section
               2.2.1- Recitals of the Technical Specifications. Calculation of surfaces and development stages,
               accounting for the areas to be extended or demolished and
               proving that all conditions and capacities defined in the
               Bidding Documents and the existing rules and regulations
               are met. Specifications with details of the urban, architectural and
               heritage aspects, with designation of surfaces or volumes to
               the BSUs which form part of it, the several functional units
               and service areas illustrated by sketches, perspectives and
               montages in order to facilitate their understanding. Technical Resolution Drawings of plans, sections and views, on scale 1:200, in
               AutoCAD format. Supporting Structure. Evaluation of the existing structures
               and proposals in relation to the structural complex, on scale
               1:200, in AutoCAD format. Installations. Assessment of existing installations and
               proposals in relation to the complex behavior as a whole,

         with networks and terminals on scale 1:400; in sanitary,
         electrical, gas, air conditioning, mechanical transport, fire,
         security and communication installations, in AutoCAD
         format. Specific Work Plan for Demolitions Drawings of preventive temporary supports and
           demolitions, if any, with sequence description and/or
           graphics of the techniques to be used. Restoration Survey methods of problems of the sectors described in
           Section 2.2.1 – Technical Specifications. Restoration proposal, determining technology to be used,
           materials and specialized labor. Equipment, Furniture and Decoration Equipment and furniture, Section 2.2.2 - Technical
           Specifications, and the proposed decoration shall be
           compatible with the category of the proposed BSUs. A report describing trademarks, models and finishing with
           illustrations through catalogs, samples and/or photocopies
           of the new elements to be used should also be submitted. Environmental Impact

       Detailed study and evaluation of the environmental impact
       that the proposed works shall have immediately as well as in
       the medium and long run. Work and Investment Schedule – Refunctioning Period

       Work and Investment Schedule, specifying period for the
       refunctioning of the Tourist Units, which cannot exceed five
       (5) years as from the transfer of possession and including, if
       possible, the stages and terms for partial authorizations on
       the various sectors where works shall be carried out,
       articulated with the appropriate BSU authorization. Total Calculation and Estimate

       Total and monthly calculation of investments, which must

               include estimate of investments according to the individual
               components as stipulated in Sections, and
      of the Technical Specifications.

2.2.2. Capital Assets Acquisition Plan

      Bidders must submit the Capital Assets Acquisition Plan to be included
      in the exploitation of each Tourist Unit, during the period of Initial
      Investment, Section - Technical Specifications, describing in
      detail total calculation and estimate.


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