December 15, 2010

Dear Home-Seeker,

Thank you for taking the time to get to know The Resort at Isla Palenque. I’m

sure you’ll agree we’ve found an incomparable site, and that our plans are

appropriately innovative, thoughtful, and respectful of our unique location.

We are currently building our Villa Estate model home as well as some island

infrastructure. We are ramping up to launch sales to the public this November for

our Phase One homes, which are planned for delivery in late 2012. Around the

same time our boutique hotel will open, offering deluxe amenities to residents

and guests, managed by the world class West Paces Hotel Group.

Although home delivery is still some time from now, I would like to make you

aware of the special advantages to being one of the first to take notice of The

Resort at Isla Palenque, namely our Founder’s Club. The homeowners who buy

the first twelve homes on Isla Palenque will become lifetime members in our

Founder’s Club. In addition to special pricing, Founders will be rewarded for

their vision with privileges such as: no HOA fees for three years, free hotel stays

for their guests, a dedicated concierge, VIP treatment and more. Please see the

attached pages to learn about the astonishing array of benefits and privileges

reserved for the members of this elite group.

If you are interested in being a Founder, I invite you to contact our Isla Palenque

Sales Team (info@islapalenque.com and 877-212-6253) to learn more about the

Founder’s Club, our home offerings, and how to become one of the select set of

forward-thinking individuals who choose to make Isla Palenque their home.

Sincerely yours,

Ben Loomis

President, Amble Resorts

THE FOUNDER’S CLUB AT ISLA PALENQUE

The first twelve homebuyers at Isla Palenque will become lifetime members in our Founder’s Club. In

addition to special pricing, Founders will be rewarded for their forward-thinking vision with special

benefits, ranging from one-time benefits like special pricing and free memberships, to lifetime benefits

that can be passed down for generations.

Membership in the Founder’s Club cannot be traded or exchanged, but can be passed on to spouses and

family members. This means that this elite club will never have more than its original number of

members, promising a level of status that cannot be diluted or devalued.

Benefits of being a member of the Founder’s Club include:

Pricing Discounts: Members of the Founder’s Club will receive a discount of 5% off the initial

pricing. This discount is in addition to the already low pre-construction pricing levels. (Worth between

$14,000-$65,000, depending on the home purchased and timing of the purchase.)

Dedicated “Founder’s Club Concierge”: We will provide a single point of contact to provide

concierge services for Founder’s Club Members. In the year prior to closing on their home, this person

will be available to provide assistance in whatever needs individual Founders have establishing

themselves in Panama: bank accounts, visas, residency, etc. In addition, during this year and once the

resort is open, this concierge will be able to help by reserving tours, transportation, hotel rooms or

anything else the Founders require during their visits to Panama. (Priceless.)

Paid Association Fees: During the first three years of home ownership, we will pay all Founders’

condominium and/or association fees. (Note that this will not include property taxes or fees associated

with optional programs or clubs, such as the Yacht Club, use of hotel amenities, etc.) (Estimated value

of $15,000 - $40,000, depending on the home purchased.)

Founder’s Referral Program: If anyone referred by a Founder chooses to purchase a home at Isla

Palenque, this new buyer will receive a discount of $10,000 off of the published pricing in effect at

that time. In addition, the referring Founder will receive a resort credit of $10,000 to be used towards

spa services, tours, condominium fees, etc. (10,000 to the Founder for each new homebuyer they

refer.)

Trade-Up Program: Members in the Founder’s Club will have rights of first refusal on any new

home offered for sale in our development, with the ability to “trade-up” for a new home, which must

be priced at least as much as the then-current market value of their home. If a Founder chooses to

exercise this right, we will buy back their home at the initial price plus half of difference between the

then-current market value of their home. The Founder will be able to use this as a credit at the closing

of their new home. (Priceless.)

Hotel Stays for Guests: During the first three years the hotel is open, Founders will be allowed to

have their guests stay in the hotel for free, subject to availability and some restrictions. Restrictions

include (but will not be limited to): a maximum of 50 total-room nights per year, and the Founder must

be staying in their home when guests are at the hotel. The “free stay” will include the room, but not

incidentals such as food, beverages, tours, and taxes. This benefit will be subject to blackout dates and

room availability, as determined by our hotel management company. (Worth as much as $50,000.)

Founder’s Lockers: Founders will have a special locker room near the marina where they can store

equipment, clothes, and other items used during marine excursions. This locker room will include

bathrooms, showers, and at least 300 cubic feet of storage space per Founder. (Worth approximately

$10,000.)

THE FOUNDER’S CLUB AT ISLA PALENQUE (CONTINUED)

In addition, Founder’s Club members who purchase Canopy Homes or Villa Estates will also receive the

following benefits:

Private Villa Vacation: Founders will be given a 5-day, 4-night vacation for themselves and any

guests they want to invite (up to 10 people total) to stay in the Villa model home before the hotel is

open to the public. We will cover the costs of transportation from the mainland to the island, all rooms,

food and beverages, and will charter a day-long boat trip for fishing, snorkeling, island hopping, or

whatever else the Founder and their guests would like to do. (Worth up to $6,000.)

GEM Car: Founders will receive free use of an electric GEM e4 car (or equivalent), the standard 4-

seater which will be available for purchase to all homeowners on the island. (Worth up to $4,000 per

year.)

Yacht Club Membership (Villas): Villa purchasers will receive a free “Captain” (medium) level

membership in the Yacht Club. Should they choose to purchase a higher level membership in the

Yacht Club, they would only be required to pay the difference between the two membership costs.

Note that this does not include annual fees associated with the membership. (Estimated value of

$50,000.)

Naming Rights: Purchasers of Canopy Homes will be allowed to name one of the platforms in the

canopy walk we will be building in the nature preserve. Purchasers of Villa Estates will be allowed to

name one of the boats in the Yacht Club. (Names will need to receive our approval.) (Priceless.)

Additional restrictions may apply to each of the above benefits.

The advantages of being a Founder at our extraordinary resort are clear. Depending on the home

purchased, the dollar values associated with Founder’s Club membership can range from some $90,000 to

over $200,000. Include such inestimable benefits as rights of first refusal on new homes, a dedicated

concierge, naming rights, memories associated with your private model home stay, and the value of being

a Founding Member of The Resort at Isla Palenque becomes priceless.