A Thrilling Investment Opportunity

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					        A Thrilling Investment Opportunity
Luxurious Apartments at the Radisson Resort & Spa on the ‘Autodromo do Algarve’
                        International Racetrack, Portugal
Index   •   An Exciting Opportunity                        05
        •   The Investment                                 07
        •   Autodromo Internacional do Algarve             09
        •   The Circuit                                    11
        •   The Interiors                                  12
        •   The Property                                   13
        •   Pricing And Terms                              15
        •   Purchasing And Ownership Structures            17
        •   Financial Projections                          19
        •   The Algarve                                    23
        •   Existing And Future Developments in Portimáo   25
        •   International Sport In Portimáo                27
        •   Frequently Asked Questions                     29
        •   International Development Team                 33
        •   Disclaimer                                     35
        •   Floor Plans & Features                         37
          An   Harte Holdings, an experienced international property group,
               www.harteholdings.ie, is thrilled to bring you one of the most exciting
    Exciting   investment opportunities available in the market. Situated in the
               Algarve International Motor Racing and Technology Park Complex,
Opportunity    Radisson Residence Portimáo offers the ultimate combination of luxury
               and excitement, www.autodromoresidences.com.
               Become an envied owner in the only apartment facilities on the
               International race track. Managed & marketed by Rezidor under the
               Radisson SAS brand, there are only 160 apartments in the resort. This
               exciting product comes with a guaranteed return on your investment.




                                                                                         05
       The   Unique opportunity to benefit from the €200 million investment in the most
             modern and significant motor racing and technology park complex in
Investment   Europe, launching with the World Super Bike Championship November
             2nd 2008.

              • The combination of an excellent climate, world-class location on the
                popular Algarve and superb facilities provide an ideal environment
                for business and tourism, giving the best guarantee of capital
                appreciation for your investment.
              • Deloitte feasibility study projects an additional one million visitors per
                year when the track opens in November 08. The analysis supports
                the business case, identifying the individual, corporate, national and
                international target markets.
              • The business focus will be on the lucrative MICE segment (Meetings,
                Incentives, Conferencing and Exhibitions)
              • The complex has already signed commercial deals with A1GP, GALP,
                TMN National Mobile Telecommunications, IDP Portuguese Institute of
                Sport, Portuguese Tourism Board and Radisson SAS among others (Aug
                ‘08).
              • 60,000m2 technology park, of which 60% is already booked for
                branded motor-industry product (Aug ‘08).
              • Capital growth currently averages 8-10% per annum in the Algarve (Aug ‘08).
              • Projected 7-year investment term generates an IRR of 20%.
              • Securing F1 would lead to accelerated capital appreciation and
                return on investment.
              • Rental guarantee on all Residences.
              • Residence owners benefit from Radisson Resorts & Hotels expertise
                in maximising rental, while they maintain, manage and rent your
                Radisson Residence property.

                                                                                              07
   Autodromo    Radisson Residences is one of the most unique real estate opportunities
                in the International marketplace today. This multi-functional business
Internacional   complex will host a broad range of national and international
                commercial, sports and leisure events. The complex comprises:
   do Algarve
                 • 5km FIA approved Formula 1 motor race circuit. Spectator capacity
                   for 100,000 and 10,000 VIP guests.

                 • 1.5km International standard Karting circuit.

                 • International standard off-road test and leisure facility.

                 • 60,000m2 Technology park / Innovation Centre.

                 • Sports Academy including full gymnasium, swimming pools,
                   treatment rooms, squash courts and multi-purpose playing facilities.

                 • Retail park including motor dealerships. 21 retailers already signed up
                   (Aug ‘08).

                 • Luxury Radisson 194-bed Hotel operated by Rezidor SAS Group.

                 • Leisure area including indoor and outdoor pools, state of the art spa
                   and wellness centre, tennis courts, children's play areas, activity trails,
                   golf driving range and access to golf courses.

                 • 160 luxury apartments.




                                                                                                 09
JANUARY 2008   APRIL 2008




AUGUST 2008    AUGUST 2008
    The   The project is destined to be a very significant driver of international
          commercial and leisure business in the Algarve. Extending to 300
Circuit   hectares, it is estimated to attract an additional one million visitors per
          year to the Algarve. The Portuguese government strongly supports the
          Autodromo Internacional do Algarve as a project of significant national
          importance (PIN).
          The Circuit enjoys a unique design thanks to the natural terrain of the
          area - curves and straights follow each other at an exciting rhythm with
          accentuated declines.
          VIP Tower with 48 luxury suites plus a lounge and balcony area.
          “Speed Box” packages include F1 driving experience with full training, off
          road driving with full training, go-karting, super car driving and track days
          for bikes and cars.
          Confirmed events include:

           • World Super Bike Championship - Nov' 2008.

           • World Supersport Championship - Nov' 2008.

           • FIM Superstock Cup – Nov' 2008.

           • Spanish GT – Nov' 2008.

           • Portuguese Touring Car Championship – Nov' 2008.

           • A1GP – Apr' 2009.

           • 7 World Events & 8 National Events scheduled per year - a significant
             number of events are already agreed in principle and will be
             announced in the coming months (Aug ’08).




                                                                                          11
     The   In purchasing a Radisson Residence, you have all the advantages of
           owning a unique investment property, finished to a 5-star specification.
Property   In addition to personal usage and access to luxury hotel facilities, the
           property is expected to generate an impressive financial return.

           BENEFITS
           Radisson Resorts & Hotels will manage and rent the residences using their
           worldwide business channels and expertise to maximise your rental, giving you:
            • Access to International advertising and marketing exposure.
            • Hotel standard service for residence users
            • Association with an internationally recognized brand.
            • Relationships with all the major holiday companies
            • The enormous experience of hotel and resort management from one of
              the world’s leading, full-service global hotel companies, which operates,
              manages and franchises more than 395 hotels and resorts in 65 countries.
            • Owners will have access to their residence for 2 weeks per annum –
              1 week from October to April and 1 week from May to September.
              Additional or extended usage rights are available subject to conditions.
            • Purchasers who would like the flexibility of having their apartment
              available for personal use at all times can be accommodated
              subject to conditions.

           SPECIFICATION
            • Residences will be fully furnished to the same impressive standard as
               the luxury Radisson Hotel.
            • Excellent quality specification, including air conditioning.
            • All apartments have substantial balconies with impressive scenic views.
            • Ample parking with 160 underground parking spaces & additional
              surface spaces.
            • Access to permanent storage.
                                                                                            13
Pricing                  GUARANTEED RENTAL INCOME.
                          • The hotel operating company will provide a rental guarantee on all
   and                      Residences. Projections suggest the average rental yield for Residences
                            under management will be in excess of 5% per annum.
 Terms
                         FREEHOLD PURCHASE.

                         Contracts are available in Portuguese and English. A mortgage pack is
                         available offering purchasers 70-80% loan to value.

                         PAyMENT TERMS:
                          • €6,000 to reserve your Residence
                          • 25% on signing Promissory contracts
                          • The remaining balance on signing the deed of sale, which happens
                            on delivery of the finished apartment.




    Apt.      Bedrooms           Number of        Ground Floor          First          Second
    Type                         Apartments          Price             Floor            Floor

     T1          1                  39             €289,000          €294,000         €299,000
                                                    (c. 76m2)         (c. 72m2)        (c. 72m2)

    T1C          1                   9             €327,000          €332,000         €337,000
                                                    (c. 87m )
                                                           2
                                                                      (c. 83m ) 2
                                                                                       (c. 83m2)

     T2          2                  74             €389,000          €394,000         €399,000
                                                   (c. 101m )
                                                            2
                                                                      (c. 96m ) 2
                                                                                       (c. 96m2)

     T3          3                  36             €489,000          €494,000         €499,000
                                                   (c. 125m2)        (c. 120m ) 2      (c. 120m2)

  T3 Duplex      3                   2                              Price on Application, 198m 2
                                                                                                      15
   Purchasing   PURCHASE PROCESS
                 • Reservation Agreement signed and €6,000 paid to reserve a Residence.
and Ownership    • Promissory Contract signed and the agreed deposit paid.
   Structures    • Fiscal number obtained from the local tax office, completed by
                   your legal representative.
                 • 6.5% IMT tax (stamp duty) based on the purchase price of the
                   property.
                 • Final Deeds expenses are payable at a rate of 0.8%.
                 • Legal fees are paid at a rate of between 1% to 1.5%, a more
                   favorable rate will be made available to Residence purchasers.
                 • Typical land registration fees are circa €250.



                STRUCTURE

                 PROPERTy OWNER
                 • Grants a 20 year Management Agreement to the Operating Company.
                 • Has 2 weeks free usage annually.

                 HOTEL OPERATING COMPANy
                 • Owned by Barry Harte Holdings Limited (Harte Holdings).
                 • Grants a 20 year Management Agreement to Radisson Hotels to
                   manage the hotel and apartments.
                 • Rental guarantee .
                 • Harte Holdings will monitor and manage the performance of
                   Radisson Residences and Hotel.
                 • Radisson will manage and market the apartments to maximize
                   income for owners.


                                                                                          17
  Financial
Projections




     PURCHASE COSTS

         Apartment                 Purchase           Purchase Costs                Total                   Finance              Equity
           Type                    Price Cost                                     Purchase                  Available         Requirement

               T2                  €395,000               €35,376                €430,376                   €292,500           €137,876



     PROjECTIONS                                                                                                PRE-TAx ANNUAL RETURNS
         year            Asset           Projected        * 7% Rental        Mortage            Community          Cashflow     ** Capital
                         Value          Growth Rate         Income           Interest             Fee                          Appreciation
                                                                               (4.25%)
           1           €426,600             8%             €27,650 +          €12,431               €0              €15,219      -€3,776
           2           €460,728             8%             €27,650 +          €12,431               €0              €15,219      €30,352
           3           €497,586             8%             €27,650 +          €12,431               €0              €15,219      €67,210
           4           €542,369             9%              €37,966           €12,431             €2,500           €23,035       €111,993
           5            €591,182            9%              €41,383           €12,431             €2,625           €26,327      €160,806
           6           €650,300             10%             €45,521           €12,431             €2,756           €30,334      €219,925
           7           €715,330             10%             €50,073           €12,431             €2,894           €34,748      €284,955

                                                                                      +
     * 17.5% effective income tax rate applies | ** 25% capital gains tax applies |       Rate may change
                                                                                                                                              19
  Financial   • Projections are based on the track establishing itself during
                years 1-3 (growth rate of 8% P.A. projected), with accelerated
Projections     appreciation thereafter due to high profile track activities.

              • Based on projections, a 7 year investment term would generate an
                IRR of 20%.

              • Minimum 3 - 5 year plan for best return on investment.

              • Excellent re-sale opportunity.


              PROjECTED CAPITAL APPRECIATION.

                €800,000

                €700,000

                €600,000

                €500,000

                €400,000

                €300,000

                €200,000

                €100,000

                        €
                            Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7
                                                                                   21
    The   The Algarve enjoys 300 days of sunshine annually, and is a hugely popular
          tourist destination. This is not surprising when you consider all of the
Algarve   attractions the area has to offer:

           • 200km of coastline with sandy beaches, private coves and modern marinas.

           • Cosmopolitan towns with a huge variety of entertainment, shopping
             and nightlife.

           • 34 world class golf courses in the Algarve region.

           • Wide variety of activities such as fishing, aquatic sports, sailing &
             horse riding nearby.

           • International cuisine.

           • Host to major international events.

           • Interesting history and friendly culture.

           • Portimáo, Lagos, Vilamoura, Albufeira and other popular destinations
             are geographically close, conveniently catering for all tastes.

           • Many major European capitals less than 3 hours away.

           • Excellent infrastructure with a direct motorway link from Faro airport
             to the Autodromo and hotel complex.

           • Regular low cost and luxury flights to nearby Faro airport (40 minutes).

           • Large scale investment in the area.




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                                                                                                                                   N266




                                                                                                                                   N124

                                                                                                                                                               R124                                                                                                                                             IC1



                                                                                                                                                                                                Monte       Cruz
                                                                                                                                          Porto de                                              Branco
                                                                                                                  Golf do                  Lagos
                                                                                                                  Morgado
                                                                                                                                                                                                       Silves
                                                                                                                                                                      N124                                                                                                                                                   A2
                                                                                                                                                                                                   N124-1                                                                                                                     IP1
                                                                                                            IC4
                                                                                                                      A22                                                                          Estacao
                                                                     IC4 A22                                  Alfarrobeiras Belmonte             IC4                                               de Silves                                                                                                                 E01
                                                                                                                                                                                                                          N269                           Malhao
                                                                                                                         Donalda                       A22
           N120                                                                                                                                                                                                                       Poco
                                                                                            Figueira                                                                                                                                 Barreto
                                                                                                                          N125
              Bensafrim                                                N125                                                        R125                                                                                                                                                   N269
                                                                                                        Penina                            Companheira
                                                                                                                   Aldeira do                            Ribeira
                                                                                R125                               Carrasco                             de Arade      N125                                  IC4                                                                                                                A22
                                                                                             Horta de Sao
                                 A22                                                          Francisco
                                                                                                            Montes                                                 Estombar
                           IC4                                                                              de Alvor                                                                   N124-1                                                     Monte
                                                                               Ribeira de                                                                                                                                                         Raposo
                                            Sargacal                           Odiaxere                                                                                                                                                                                A22
                                                                                                                                                     Parchal                               Lagoa                                        A22                                                 IC4
                                                                                                                                                                             Vale da
                                                        Chinicato
                                                                    Palmares
                                                                                         Ribeira
                                                                                        do Farelo                        Portimao                                             Pinta
                                                                                                                                                                                                R125
                                                                                                                                                                                                                   N125
                                                                                                                                                                                                                                 R125
                                                                                                                                                                                                                                                         N125
                                                                                                                                                                                                                                                                                                       R125
                                 Portelas                             Golf                                                                      Ferragudo                                                                  Porches
                                                                                                                                                                                                                                                                                                                      N125
                             N120

                                                       R125

                                                     N125

                                                                                                                                                                                                                                               Armacao             Quinta da
                                                     Lagos                                                                                                                                                                                     de Pera             Saudade                          Vale de
                  N125                                                                                                                                                                                                                                                         Vale de            Santa Maria
                                       Santa Maria                                                                                                                                                                                                                Herdade dos Parra
                                                                                                                                                                                                                                                                  Salgados Golf                                  N395
                                                                                                                                                                                         Carvoeiro                                                                                       Terras Patroves
                                                                                                                                                                                                                                                                                         Novas                  Albufeira
                     Luz
                                                                                                                                                                                                                                                                                      Sesmarias
                                                                                                                                                                                                                                                                               Gale




Portugal
     Existing
  and Future    • Ongoing improvement of beachfront facilities

Developments    • New Ferragudo Marina (2011)

 in Portimáo    • Cruise ship harbour (2010)

                • Aquarium (2009)

                • Planetarium (2009)

                • Autodromo International Algarve (2008 / 2009)

                • New airport (2015)

                • New sports complex (2009)

                • Golf courses Alto Golf, Penina, Morgado do Reguengo, Alamos

                • Sasha Beach, beach club, pool & restaurant




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International    • A1GP World Motorsport

      Sport in   • P1 World Powerboat Championships

     Portimáo    • International Beach Soccer Tournaments

                 • European Volleyball League

                 • Kite Surf World Tour

                 • Big Game International Fishing Contest

                 • Breitling Mediterranean Cup yacht Race

                 • Portugal Bicycle Tour

                 • Gymnastics World Cup

                 • International Show jumping

                 • Lisbon - Dakar Rally

                 • European Windsurfing Championships




                                                            27
Frequently   WHAT ARE THE PAyMENT TERMS?
             €6,000 to reserve your Residence, 25% on signing Promissory contracts and
     Asked   the balance on signing the deed of sale.

 Questions   WHO DO I MAKE A RESERVATION PAyMENT TO?
             Propco Invest Turist Imobiliarios LDA, Aldemento Da Bemposta Lote 66
             Apartdo 50 8501-909, Portimáo, Portugal.

             WILL RESIDENCE OWNERS HAVE ACCESS TO RADISSON HOTEL FACILITIES?
             yes, you will have access to all of the superb Hotel facilities.

             WHAT IF I WANT TO USE My PROPERTy FOR MORE THAN 2 WEEKS?
             It will be possible to stay at the Radisson Residences at other times subject
             to the terms of purchasers rental agreements.

             WILL THERE BE ANy NOISE POLLUTION FROM THE RACE TRACK FACILITy?
             The complex has been designed to eliminate noise from the race track
             through the use of the natural rolling terrain, ensuring that track noise is
             completely minimized.

             ARE THE RESIDENCES FULLy FURNISHED?
             yes, all Residences will be fully furnished by the Interior Design team to the
             same standard as the Radisson hotel.

             WILL THE BUILDINGS HAVE LIFTS?
             yes.

             ARE THERE ENOUGH PARKING SPACES FOR ALL RESIDENCES?
             There are 160 underground parking spaces & ample surface spaces.


                                                                                              29
Frequently   CAN I RENT My PROPERTy THROUGH OTHER RENTAL COMPANIES?
             your Residence will be managed and rented out by a top International
     Asked   Hotel and Resort Management Organization whose strong business
             relationships and Sales and Marketing abilities will maximize your returns.
 Questions   Under Portuguese law, only one organization can be involved in the
             exploration of each touristic development.

             WHAT ARE THE ADVANTAGES OF HAVING My PROPERTy MANAGED By A
             HOTEL GROUP?
             There are many advantages to having your Residence managed by
             Radisson. These include; having access to International Advertising
             and Marketing exposure, Hotel standard service for Residence users,
             Internationally recognized Brand, relationships with all the major holiday
             companies and huge experience of hotel and resort management.

             CAN yOU PROVIDE AN INDEPENDENT LAWyER TO ACT FOR ME?
             A suitable firm will be recommended to act for purchasers.

             ARE THE PROPERTIES FREEHOLD?
             yes, the properties are freehold.

             IS THERE A GUARANTEED RENTAL INCOME?
             Harte Holdings, are offering a Rental guarantee on all Residences. The
             Rezidor (Radisson) hotel group have signed a 20 year management
             agreement to manage the Residences for purchasers. Rezidor's
             projections suggest the average rental yield for Residences under its
             management will be in excess of 5% per annum.
Frequently   WHAT HAPPENS AT THE END OF 3 yEAR GUARANTEED RENT PERIOD?
             Owners will have one of two options at the end of this period. They can
     Asked   avail of a pooled rent sharing structure. The rents will be pooled and
             divided equally after Radisson Management charges. Alternatively, Harte
 Questions   Holdings will look to structure a further guaranteed rental agreement for
             an agreed period.

             HOW CAN I BE SURE THAT My PROPERTy IS BEING MANAGED TO THE
             HIGHEST STANDARD?
             Harte Holdings have a specific Hotel division that manages its hotel
             portfolio. There are currently ten hotels under management, 2 in Ireland,
             4 In London and 4 in the US. There are a further 6 hotels in development
             phase including the Radisson in Portimáo.

             WHAT HAPPENS IF RADISSON FAIL TO PERFORM AS HOTEL MANAGERS?
             The management agreement for the hotel and apartments allow for Radisson
             to be exited should their performance not be up to the required standard.

             CAN I RE-SELL My PROPERTy AT ANyTIME?
             yes, you can sell your property whenever you wish.

             IN WHAT CURRENCy ARE PAyMENTS MADE?
             Euro.

             WILL CONTRACT DOCUMENTS BE AVAILABLE IN ENGLISH?
             yes, however the official contract language is Portuguese.

             CAN I GET FINANCE IN PORTUGAL?
             yes. Specific banking arrangements are being negotiated to offer
             purchasers the best possible conditions.


                                                                                         31
International   Harte Holdings, www.harteholdings.ie is the resort developer for
                the project. As a business, Harte Holdings delivers a comprehensive
  Development   and innovative portfolio of property development and investment
                opportunities to business partners, investors and joint venture partners
         Team   across a range of project types and sectors.

                Radisson Hotels & Resorts, www.rezidor.com is one of the world’s leading,
                full-service global hotel companies, operates, manages and franchises more
                than 395 hotels and resorts in 65 countries. Radisson is focused on being
                the hotel of choice for today’s independent-minded frequent business and
                leisure travellers who want more control over their hotel experience.

                Parkalgar, www.parkalgar.com is the Portuguese company which owns
                the Autodromo Internacional do Algarve and will be managing it. Paulo
                Pinheiro, CEO, is the visionary and motor sports fanatic driving the project.

                The Mace Group, www.macegroup.com is one of the world’s most
                accomplished consultancy and construction firms, with a reputation for
                finding the best solutions to complex property and real estate challenges.

                Intergaup, www.intergaup.pt are the architects providing creativity, quality
                and the best spatial design, with over 20 years of professional experience
                on a huge range of leisure, commercial and residential projects.

                Bemposta and Hagen, www.hagen.pt are international standard
                construction companies with an excellent reputation in Portugal.




                                                                                                33
the Algarve’s largest, most
important investment


“When this project is completed in late
October, I’m certain the number of visitors
to our country will increase. Whereas
we recorded a record level of visitors in
2007, this number is certain to increase in
future as a result of this new asset. The
project will have a significant impact on the
local economy and therefore also on the
national economy.”
Dr. Manuel Pinho, Minister of the Economy and Innovation




                                                           35
Disclaimer   All information provided in this presentation is given on behalf of Harte
             Holdings. It is provided without responsibility or any warranty as to its
             accuracy or completeness on the part of Harte Holdings’ employees,
             agents, solicitors, and other advisors and their respective directors,
             partners and employees. The information is believed to be correct only
             the actual (not constructive) knowledge of the project. Furthermore, there
             is no guarantee or warranty as to future performance and/or profitability
             of any business carried on at The Property.

             Without prejudice to the generality of the above, the accuracy of the
             information provided herein is not guaranteed and does not obviate the
             need for any interested party to carry out all necessary due diligence
             and also to carry out all appropriate searches, enquiries, surveys and
             inspections as they consider appropriate. In accordance with the
             Misrepresentation Act 1967 and the Property Misdescriptions Act 1991.
             Harte Holdings hereby give notice that:

             I. This presentation does not form party of any offer or contract, and must not
                be relied upon in whole or in part as statements or representations of fact;

             II. No director or partner in any person in the employment of Harte
                 Holdings has any authority to make or give any representation or
                 warranty whatever in relation to the Property;

             III. Floor areas, measurement or distances given are approximate. Unless
                  otherwise stated, all prices, rents, income, outgoings and other figures
                  quoted are exclusive of VAT;

             IV. Any description given of the Property cannot be taken to imply it is in
                 good repair, has all necessary consents, is free of contamination, or that
                 the services and facilities are in working order. Interested parties are
                 advised to carry out their own surveys and investigations as required.




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