Confidentiality Agreement

2

T his confidential offering memorandum (the“Memorandum”) is intended solely for yourown limited use to determine whether you

have interest in investing in the proposed food andbeverage fund, alternatively, (the “Fund”). By yourreceipt of this Memorandum, you agree that it andthe information contained herein, together with otheradditional information concerning the investmentsubmitted to you by Blu Pacific Fund Ltd “TheOwner”, is of a confidential nature, and that you will hold and treat in thestrictest confidence, and that you will not, directly or indirectly, disclose orpermit anyone else to disclose it to any other person, firm, or entity withoutprior authorization from Blu Pacific Fund Ltd. Additionally, you will not use orpermit this Memorandum or any part of the content to be used in any man-ner detrimental to or in conflict with interests of Owner.

This Memorandum Contains brief, select information pertaining to the busi-ness and affairs of the proposed Fund, and has been prepared by Astra AssetManagers Inc primarily from information supplied by the Owner. It does notpurport to be all-inclusive or contain all the information a prospective equityor investment capital source may desire. This Memorandum has been pre-pared solely for informational purposes to assist a potential investor in de-termining whether to proceed with an in depth proposal.

- Should you require additional information regarding the Fund, or beinterested in pursuing a transaction about the proposal please, contactthe Manager at:Blu Pacific Fund LtdRoom1708, Kai Tak Commercial Building,317-319 Des Voeux Road C., Hong Kong or,

Astra Asset Managers IncDavos Financial1001 Brickell Bay Drive, Suite 3104Miami, Fl. 33131info@blupacificfund.com

B Blu Pacific Fund Ltd. “the Fund” is a BVI Busi-ness Company incorporated under the laws ofthe British Virgin Islands on March 19th, 2008.

Astra Asset Managers Inc, (the “Manager”), will serveas the investment manager of the Fund. The Managerwill use the proceeds from the offering of the Shares toemploy the strategy in which the Fund will invest.The objective is the growth of capital via strategic in-vestments in the new and underexploited market seg-ment of Edutainment Theme Parks for Children inChina and the Asia Pacific Region.Specifically the Fund will be a principal source of cap-ital to support the expansion of Pacific Operators Ltd.,(“the Company”), an experienced organization with aprofessional management team that will take advan-tage of the market opportunities to develop and ex-pand the concept of the Children’s Theme Park andEntertainment and, F&B concepts in China and thegreater Asia Pacific region.

The Company will seek to capitalize the opportunitythrough strategic alliances with highly ranked entitiesand operators; thus expecting to obtain the maximumreturns with the minimum risks.Pacific Operators Ltd., has secured the exclusive Mas-ter License of Wannado City, a children’s theme parkfor the China market, including the territories of HongKong, Macau and Taiwan.The company will operate and exploit the children role-play entertainment/edutainment concept that hasbeen a proven successful since its creation in 1999and in the several countries that it has been estab-lished.

It is the view of Pacific Operators that the following willbe the Company’s “Key Success Factors”:• Promote and operate successfully the theme parksconcept in major and secondary cities in China.• Promote and operate the parks concept in otherAsian markets.• Build a lucrative operating company in China and theAsia Pacific Region• Obtain necessary funding to develop the conceptsthroughout China and the Asia Pacific Region• Attain an attractive size of business in China and theGreater Asian Pacific markets to reach IPO status inthe China (Beijing, Shanghai or Shenzhen) or HongKong Stock Markets• Run a successful business model easily replicablethroughout China and the Asia Pacific area

The Fund

Objective

3

C hina's growth is one of the most impressive eco-nomic turnaround in the last century, with an av-erage growth of 9% each year over the last

twenty-five years. The economy of China is the fourthlargest in the world when measured by nominal GDP andthe forecast is expected to continue at this pace for thecoming decade, this accelerated growth has had a dra-matic impact on the lives of millions of Chinese citizens.Tens of millions of people have been lifted out of povertyin China during the past decade, creating a newfound in-creased disposable income society eager for new con-cepts and ideas.

China Market

16,000.000

14,000.000

12,000.000

10,000.000

8,000.000

6,000.000

4,000.000

2,000.000

GDPMeasured at purchasing power ??????

(million international $)

20072003 2010

400.000

2003 2007

350.000

300.000

250.000

200.000

150.000

100.000

50.000

0

1,600.000

Consumer expenditure on food (US$ million)

Annual disposable income (US$ million)

1,400.000

1,200.000

1,000.000

800.000

600.000

400.000

200.000

0

China Economy Growth

T he government policy of openness has empha-sized raising personal income and consumptioninviting increased productivity and generation of

wealth. Although China has focused on foreign trade astheir major vehicle of economic growth, their internal mar-ket has now become an important part of their growth

Disposable Income

The Disposable income and Consumerexpenditure on food increase more than

50% in the last four years.

4

T he development of ThemeParks in China has enjoyed animpressive growth like the one

other sectors in the food & beverage,entertainment, edutainment and serv-ice industries has. Although Chinahas local parks, with the exception ofShijingshan Amusement Park in Bei-jing and the OCT’s Happy Kingdom inShenzhen, the industry has not ma-tured and/or created developer

groups as normally known in the west, which are owned andoperated by big entertainment corporations. Some home-grown projects are in development but are more oriented toteenagers and young adolescents. The edutainment and roleplay industry or playgrounds for younger children is still a nas-cent concept in China and for that purpose the world, and al-though a few small parks have opened, none enjoy the size,quality and concept of the American or European parks. Theoverall theme park industry is expected to grow rapidly in theAsian-Chinese market in the coming years as the populationstarts to enjoy more disposable income. Another importantfactor is the 6 to 1 economy when it comes to children, inwhich 6 adults (4 grandparents and 2 parents) are dedicated tothe education and entertainment of the only child due to theofficial 1 child policy in place 30 years ago.

Theme Parks in China

5

6

A ccording to a research report by the China Academy of social sci-ences in 2004, Chinese parents spent up to 50% of their totalfamily income on their child. The importance of education in Chi-

nese culture is paramount; this means that from a young age parentsteach their single child to be the best in his/her class. Even toys, games,DVDs, video games and TV shows are more likely to be marketable if theyhave an educational edge.In 2006, 40% of the retail sales of traditional toys and games in Chinawere originated from educational toys (pre-school). Activity toys and sci-entific kits are also moving fast in the region. By 2008, China is expectedto be the largest market for pre-school toys, overtaking the USA, whichis currently the leader. Little PC-type toys, which help spelling, countingand other skills, are driving this market. Chinese consumer expenditure oneducation is forecasted to almost double in real terms by 2015 fromRMB606 trillion in 2006. ($1 US = 7 RMB)So more expenditure is expected within the educational children orientedindustries.

Children Market

In a market that is expected to grow more than any other region of theworld and, without a single major local or international player in theedutainment industry, it could be fairly assumed that it is a virgin mar-

ket that will allow the growth and expansion of the parks in the near andmedium future without engaging in fierce competition for market sharewith another major group.In a report by PricewaterhouseCoopers (PwC) entitled “Global Enter-tainment and Media Outlook: 2007-2011” they estimate a growth of morethan 5% in Asia.While another report developed by TEA/ERA (Themed Entertainment As-sociation and Economics Research Associates) about attendance intheme parks states that the Asian market has the greatest potential ofgrowth in the years 2008 and up. With China expected to increase itsrevenues in attendance to $2,048 Million USD in the next four years.

The Opportunity

7

W ith increasing exposure to foreign culturedue to the adoption of the open policy,consumers are more ready to accept

western-style concepts.Meanwhile, rising disposable income arising fromrobust economic growth has made it financiallypossible for Chinese consumers to choose west-ern-oriented concepts, usually at a higher price.Such demand is likely to continue and even in-crease further over the next five years.

The lifestyle need is expected to be more wide-spread, expanding to inland cities from major citiesover the next years, with household income risingas a result of continued robust economic growth inChina.With more income, consumers can afford items be-yond necessity. They may not be easily content withmere entertainment in theme parks, and are likelyto seek of better quality and experience, as well as a premium service, fortheir children’s education and entertainment. This represents a strong in-dication of their growing wealth as well as their changing personal tastes.

Edutainment per se, is a new concept in China but with not doubt theChinese people will be eager to embrace it as they concentrate great partof their effort in improving their children education and way of life.The rising disposable income has underpinned major entertainmenttrends. It makes it possible for consumers to materialize their need forconvenience, as they can afford to entertain more frequently. Further-more, rising disposable income is able to financially help satisfy theirneed for lifestyle consumption, in pursuit of better living standards andperceived better social status.

Westernized Culture

T he development strategy for thetheme parks in China by PacificOperators, Ltd., is to establish a

Chinese branch in Sanghai from where thepromotion, planning and development ofthe Wannado Parks will be executed. Theplan is to develop 1 park per year startingin 2008 or first quarter of 2009 and, 2parks a year after year 3.

In accordance with the potential market inMainland China, the estimated number ofparks to be opened is up to twenty parks.Other opportunities in Asia are present aswell.Also, within this office the F&B area willdevelop and operate their proprietary concepts, first locally and later organicand opportunistically in other major and secondary cities in China.By introducing multiple concepts in a territory, Pacific Operators will be ableto leverage their infrastructure costs and negotiating power with real estatedevelopers.From their corporate offices in Hong Kong and their representative office inUSA, Pacific Operators will look to develop other markets and opportunitiesthat can add value to its shareholders.

8

PacificOperators

DevelopmentStrategyin China

9

T he strategy for the Company is to create individual Joint Ventures with eachnew Park that besides Pacific Operators being part it might include one orall of the following:

- Real State Developer or Mall via the space and/or preferential treatment plus con-struction allowance.- Local Chinese Investors via private or institutional capital.- Foreign Direct Investment in the park via capital from the Fund or other Interna-tional capitalThis Joint Venture scheme will permit flexibility in a case by case in each marketthus maximizing our return on investment and lowering the risk.The Company will maintain at all times the operational and financial control of thevarious joint ventures entered into, to secure the quality and the standards of oper-ation plus maintaining confidential its corporate know how. Pacific Operators willalso earn revenue from the operation of the park, royalty and license fees, conces-sions and F&B among the principal revenue streams.

Investment Structure

Investment Strategy

投资结构

B lu Pacific Fund, Ltd., (the “Fund”), iscreated with the objective of fundingthe development of children entertain-

ment/edutainment parks in China and the AsiaPacific region, primarily through Pacific Oper-ators, Ltd., (the “Company”).

With the raised capital, the Company will cre-ate the necessary infrastructure to develop,build and operate these parks in China. This in-frastructure will also help attract the sponsor-ships for the venues, which will add an extrarevenue stream and, to coordinate the devel-opment and operation of the parks.

P acific Operators, Ltd., with thesupport from Wannado City’scorporate offices in USA, and

their relationships with existing majorsponsors that already enjoy the suc-cess of the parks, will facilitate theirinclusion in its Chinese counterparthelping making it more attractive tobring leading local companies.

Since each market is different and the needs and trends may vary, the con-cept of park for the China region will be tailor made for such market, at-tending to the very specific detail culture wise in its creation, just as it wasdone with the other two markets already in operation.The Company is also pursuing very aggressively the partnership of majornational real estate developers of AAA shopping centers so it can secureprime locations at preferential rates.Some cities have also raised their attention to participate in some formwithin the project.Also, financial institutions from Hong Kong and China have raised strong in-terest in becoming partners in one and/or all the parks.The Company will decide what would crate the best value and lower risk forits shareholders.

Strategic Alliances

10

11

T his innovative concept, the first indoor Role-Playing Theme ParkConcept in the world, has become the leading news in the ThemePark and Entertainment Industry, due to its originality and universal

appeal. Developed for kids, ages 3-13. It offers educational values and en-tertainment via role-playing in a setting created as a city in a 60,000 sq/ftarea to support around 800,000+ visitors a year.The city is built at children’s scale, the most important aspects of the societyhave been replicated to give the kids a unique experience by the creation of re-ality-based, experiential properties that entertain and educate. Kids can try outhundreds of grown-up jobs in this first role-playing city built just for them. Thepark also, has its own institutions such as banks with their unique currency andcredit card, Driver’s License, police force, hospital, TV and radio stations andothers, all animated by the small visitors. Above all is a city for kids and kidsRULE.Also, the venues and other common areas have the potential to be spon-sored by corporations. By offering a one of a kind hands on experience forkids and adults, these parks have the potential to introduce the leadingbrands of the world, in a way to build a successful emotional connectionwith the consumers and decision makers of tomorrow, cementing a life longloyalty to the brand.The first experience of this kind of theme parks in the world was developedin 1999 in Mexico City. Later, a second concept tailored to the US specificmarket was born, called Wannado City in 2004 locating its first park in SouthFlorida and its second one in the New York metropolitan area expected bythe end of 2009, with expansion plans to other major cities in the years tocome, such as Chicago, Dallas, Atlanta and L.A., all within the US market

*Edutainment (also educational entertainmentor entertainment-education) is a form of en-tertainment designed to educate as well as toamuse. Edutainment typically seeks to instructor socialize its audience by embedding les-sons in some familiar form of entertainment.

Park Concept

12

13

Fund Management

Astra Asset Managers, IncIncorporated in the United States of America.A Davos Financial Group sister company,

Fund Managers

Davos Financial Group is present in Switzerland through the firm D’Societe (member of ARIF Association Romande des intermédiaresFinanciers) and as first independent supplier of integral and struc-

tured financial services since our incorporation in 1994, we value optimumconditions as well as maximum transparency in each of the operations weperform.We rely on the support and security of the best financial institutions inSwitzerland, Latin America and the Caribbean, as well as highly recognizedEuropean Custodian Banks, which allow us to offer an ample scope of prod-ucts and solutions that adapt to your financial expectations.

Andres Sotillo – Chairman Buisness Administrator2003 Present DAVOS INTERNATIONAL BANK,

Antigua & Barbuda C.E.O.1995 Present DAVOS FINANCIAL GROUP, Miami, Florida, USA

Director /Senior Partner1995-1996 BANCO LATINO INTERNATIONAL, Miami, Florida, USA

Trainee Program – Tresaury1988-1995 MORRISON & SOTILLO, C.A., Caracas, Venezuela

General Manager1994-1995 MAVESA, S.A., Caracas, Venezuela

Intership Finanse Analist

Gustavo Rivas - Director Economist – International MBA2004-To date Davos Financial Group. Miami, USA

Portfolio Manager – Asset Management Division2003 Davos Financial Group. Miami, USA

MBA Internship.1999-2002 Banco del Caribe. Caracas, Venezuela.

Economic Analyst. Planing and Management Department.1996-1998 ING Bank Caracas, Venezuela

Assistant Relationship Manager / Credit Analyst.

� Xia ShenBorn in China, received his university degrees from Zhejiang University, China and OxfordUniversity, UK. He joined N. M. Rothschild & Sons Ltd., in London in 1993. In 1997, Movedto Hong Kong to work for Rothschild’s and then Schroeder’s Asia. From 2000 -2005,worked for China International Capital Corp, a China based investment bank.Since 2005, Xia works for Macquarie in HK. His expertise is capital market fund raisingfor China based companies, both in China and overseas market.

� Gaston Melo, PhDDoctor in Communication Sciences from Louis Pasteur University, Strasbourg, France. in1980.As producer and director in diverse media, he has won awards in cinematography and TVwith various documentaries in archeological, scientific and ethnic research.Currently is an active consultant to Grupo Televisa (the biggest media company in Span-ish), company in which he has taken part for 35 years in diverse areas and as a high-ranking executive.Conceived and developed “Espacio”, a series of forums for university students from LatinAmerica with an attendance of more of 250 thousand students in 12 years. RenownedWorld Leaders from Industry, government, science and academia are invited to partici-pate in key note presentations and Q&A talks with the students.Owner of Sistema de información Logística and, Comunicación Sistémica. Both compa-nies offer consulting services to diverse companies in Mexico and France.Officier del’Ordre des Arts et des Lettres by the French Government and, Medalla al Mer-ito Universitario from Anahuac University, Mexico City.

� Roberto Valdes -DaussaB.S. Industrial Engineering, Georgia Intitute of Technology – 1956Ample experience as a high-ranking executive in industry of private and multi-nationalcorporations.Prsident and then Regional Business Manager for Latin America for Federal Mogul Corp.Vice-president of Oci-Metalmecanica of Venezuela, supplier for major U.S and Japanesseautomotive plants. A Kaiser Industries wholly owned subsidiary.Production manager of Chrysler de Venezuela.Has been a Board Member in 11 high profile companies, like Jeep de Venezuela, FederalMogul de Ecuador, Federal Mogul de Venezuela, among others.Board of Directors-Automotive parts Manufacturer’s Assoc of VenezuelaBoard of Directors-Carabobo Assoc. of Executives, Venezuela.

Fund Management

Fund Board of Advisors

14

15

Pacific Operators

Key peopleProven Professional Management

� Executive Chairman,Jose Alfredo ReygadasAttorney at Law since 1994 by Universi-dad Panamericana in Mexico City with aMasters Degree of International Law bythe University of Notre Dame in 1996.With more than 14 years of experience inbusiness, legal affairs and managementpositions in the corporate world in theU.S., Latin America and Hong Kong,China.Created the Asukar F&BConcept and co-founder Pacific Operators. Ample experi-ence in the establishment of severalcompanies in Hong Kong with affiliatessubsidiaries in China known as WFOE(Wholly Foreign Owned Entities).Participated in the negotiations for a USD300 Million joint real estate project be-tween Chinese investors and the Tunisiangovernment for the development of ahigh-end casino and resort project inTunisia.Advised clients in evaluating the feasibilityof multi-billion dollar acquisition of newly-privatized financial and commune institu-tions in Mexico from the government.Vice President of Business and Legal Af-fairs for several public US companies suchas Universal Studios and HBO both ofthese companies within their Latin Ameri-can divisions. And private companies suchas the German Bertelsmann GroupMusicDivision (BMG).Successfully completed the legal andcommercial framework for an InternetCompany from the start up operationsto a successful investor approach, andeventual IPO.

� CEO, Juan-Antonio GarciaHas ample experience working at pri-vate and public multi-national compa-nies. Business consultant in MexicoCity, sold venture and joined GrupoTelevisa. Worked 5 years at Televisa ashead of Special Projects in the Office ofDeputy to the Presidency Office. Man-aged multi million dollar projects. Co-founder SportsYA!, an internationalInternet sports site in Spanish based inMiami, FL. With offices in Madrid,Buenos Aires, Mexico City and SaoPaulo. Responsible for a staff over 200people in the areas of content and tech-nology. Helped raised the original andsubsequent funding, up to 35 million incapital from JP Morgan/Chase CapitalPartners, IMG Sports Management,Flatiron Partners and others. Co-Founder Pacific Operators, Ltd.

� CFO, Mauricio del CastilloWorked in the Strategic Planning of Avan-tel (MCI), the second largest telecommcompany in Mexico. Was in charge of abudget of over USD 500 million, and re-sponsible of the creation and execution ofthe strategy plan, collaborated directlywith theCFOof the company. Co-Founderof an entertainment company in Miami,currently the most successful talentprovider for theHispanic televisionmarket.Has broad experience developing busi-nesses between China and US/LatinAmerica region. His financial experiencesin start up companies as well as big cor-porate enterprises are key for the devel-opment of this project.

� Chief Corporate Sales Officer, An-dres I. FrancoWithwell over 10yearsof vast experience inthe International Sales andMarketing in thereal estatemarket.Workedwith severalRealEstate companies, he founded in 1998 hisown enterprise, World Home International,whosegrosssales reachedover $40million.Merged in 2006 World Home Internationalwith the Q Kapital Group, securing over$100million in Commercial andResidentialloans for clients.Hehasbeenpersonally in-volved with several projects whose totalvalue were well over $180million.

� Senior Consultant, Joel SilversteinCEO/Founder of Vivaldi FoodsLtd., FormerCEO of Outback Steakhouse, Asia Pacific.Built Outback Steakhouse business in AsiaPacific region toover 90unitswith revenuesexceeding USD 185 Million within 2002-2004 period. Former vice President andBoardMember – KFC Japan Ltd, a $700Mpublicly traded Japanese company. Beforethat he was a key Executive with PepsiCoRestaurants (now Yum!), with responsibilityforKFCJapanand600PizzaHutunits gen-erating annual revenue of $500M; assistedthe companywith bothU.S. andAsia oper-ations. Built and managed US$200M-$500M Asia-Pacific companies. Has morethan 28 years business experience in AsiaPacific, with 22 years in residence.Over12yearsbusinessexperience inquick-service, casual dining, and franchising.Has been Senior executive with Black &Decker, B.A.T. Industries plc., PepsiCoRestaurants (KFC,PizzaHut),DIRECTV Int’l,and Outback Steakhouse Int’l.

The management and consultants from Pacific Operators is anextensive pool of talent that comprises experienced professionalswith almost 30 years combined in the Entertainment and theAsian market, plus ample knowledge in International BusinessDevelopment and Financial fields.

Fund Manger:Astra Asset Managment, Inc

1001 Brickell Bay Drive, Suite 3104Miami, Fl. 33131

Tel. 305.577.8999 - Fax. 305.577.8899

Administrator:TRADMAN.

c/o Exchange Fund Services Tradman, Ltd. Nemours ChamberNetherlandsrs, P.O. Box 3170, Road Town, Tortola, British Virgin Islands.Phone (284) 494-0525. Fax (284) 494-0883. - Laan van Kronenburg 8

NL - 1183 AS Amstelveen - P.O. Box 7827NL - 1008 AA Amsterdam - Netherlands

Auditor:De Paus & Vesseur - Snipweg 30

Willemstad, Curacao - Netherlands AntillesTel; 005999 736 63 44 - Fax; 005999 736 63 83

Web: www.depausvesseur.com

Custodian Bank:Banque BAUER (SUISSE) S.A

Rue Jean Petitot 7 - 1204 Genève, Suisse

Financial Advisors:Davos Financial GroupRue du Rhone 13, 1204

Geneve. SuissePhone: + 412 231 11386 - Fax: + 412 231 11387

Structure

16

Minimum: $25,000Lockout Time: 24 monthsLiquidity: SemesterReports: QuarterlyAudit: Yearly)

Cost 15% Profit Sharing (High Water Mark)2% Annual Management Fee

Distributors 4% Up-Front Commission Class “A” Type1% Annual Trailer after second year

Income Structure

17

Investment :

Projects 2008-2012

18

� = Wannado City Park

Wannado City roll out plan - Project 2008-2012

Shanghai

Beijing

Hong Kong

Shenyang

Shenzhen

City/Oppenings 2008 2009 2010 2011 2012

★★

★★★

Financials

19

Park’s FinancialsChina Business Case

P acific Operators is tailoring the concept with the localcostumes, culture and economy in mind. The proto-type park is designed to be built in a 6,000 sq/m

(60,000sq/ft), with a projected total investment of USD $15MDD, this amount expected to be lower as economies of scalehelp in getting favorable deals with suppliers and developers.The expected capacity is to be around 600,000 visitors a year,with estimated revenue per attendant of $17 USD (this onlyfrom the entrance to the parks, not considering F&B, conces-sions or merchandising) and a calculated EBITDA of 42% forthe first year. Another significant source of revenue will comefrom sponsorships; all venues or pavilions are sponsored bycorporations as well as other areas or activities of the park.These plus the F&B business and the merchandising createsa very profitable business case.All these numbers and estimates are based in then previouspark experiences in different markets thus obtaining a very re-alistic scenario, by only using the most conservative case sce-nario numbers and models to illustrate this example.

2.00

4.00

6.00

8.00

10.00

12.00

14.00

Cogs

SG&A

EBITDA

42%

38%20%

20

Financials

L abor and real estate are the most critical expenses in the operations ofthe Company. In both of these cases China offers a great advantage forthe Company, as labor (plus other benefits), are much lower than in

Mexico and the US. Regarding real estate, the fast market growth in com-mercial properties will bring to market in the short term several options thatwould allow the company to get preferred deals in the markets that are ex-pected as potential sites for the park. Pacific Operators has also created a rentscheme which allow to pay less rent during the first 4-5 years of operation and,then level off when the park is mature, this creates a constant business proforma plan with a 42% of EBITDA from the first year of operation.

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

20.000

25.000

Revenue

2008

2011

2014

2017

15.000

10.000

5.000

5.000

5.000

0

COGSExpensesEBITA

Plan 10 years

Fund key financials

21

Wannado City 9,552 21,026 38,073 59,400 73,034

AsukarTapasbar 258 1,338 3,034 5.699 8,018

Asukar Blu 64 389 1,019 2,091 3,110

Chop Chop 64 389 1,019 2,091 3,110

TOTAL 9,680 23,142 43,145 69,280 87,272

Usd+ constant dollar 7RMBperUSD 1.383 3,306 6,164 9,897 12,467

Expenses 4,727 5.634 7,399 7.769 8,157 8,565

USD 675 805 1,057 1,110 1,165 1,224

EBITDA 4,727 4,953 17,507 35,747 61,512 79,115

Income(ThousandRMBs)

2008E

2009E

2010E

2011E

2012E

2013E

BOP - 6,007 9,182 5,572 14,756 9,31

- 858 1.312 796 2,108 1,133

Cash Flow(Thousand RMBs)

2008 2009 2010 2011 2012 2013

usd + constant USD7 RMB per US

Investment 56,000 49,000 35,000 35,000 - -

8,000 7,000 5,000 5,000 - -

EBITDA 4,727 4,953 17,507 35,747 61.512 79,115

Total Income 59,273 60,953 57,507 75,747 61.512 79,115

USD 8,468 8,708 8,215 10,821 8,787 11.302

Income 2008 2009 2010 2011 2012 2013

USD

Capex

7,000 3,500 - - - -

Wannado 30,000 30,000 30,000 30,000 30,000 -

Asukar Tapas 1,489 1,489 1,489 1,489 1,489 -

Asukar Blu 965 965 965 965 965 -

Chop Chop 965 965 965 965 965 -

Total Investment 40,419 36,919 33,419 33,419 33,419 -

USD 5,774 5,274 4,774 4,774 4,774 -

Expenses 4,727 5,634 7,399 7,769 8,157 8,565

USD 675 805 1,057 1,110 1,165 1,224

8,120 15,225 20,300 25,375 25,375 25,375

USD 7,609 8,254 8,731 9,509 9,564 4,845

TotalOutcome 53,266 57,778 61,118 66,951 66,951 33,940

USD 7,609 8,254 8,731 9,509 9,564 4,845

Endof Period 6,607 9,182 5,572 14,756 9,317 54,492

858 1,312 796 2,108 1,331 7,785

Outcome 2008 2009 2010 2011 2012 2013

WDC master franchise

Dividends14.5 cost of capital

USD constant USD7 RMB per US

Financials

Notes

22

23

Notes

Blu Pacific Fund LtdRoom1708, Kai Tak Commercial Building,317-319 Des Voeux Road C., Hong Kong or,

Astra Asset Managers IncDavos Financial

1001 Brickell Bay Drive, Suite 3104Miami, Fl. 33131

info@blupacificfund.com