Land Appraisal

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YUMA DEL MAR PROJECT

LAND APPRAISAL Original Market Value Full Appraisal - 1992 & Updated Market Value as of - 1997

Prepared by:

Horwath Consulting, 1992 & Horwath, Sotero Peralta & Asociados, 1997 Santo Domingo, Dominican Republic

FOR:

Masstech Dominicana S.A. ENGINEERING, ARCHITECTURAL, FOREIGN INVESTMENTS, MANAGEMENT

Consultants

Ave. 27 de Febrero #194, Suite 201, Santo Domingo, Dominican Republic masstech@dr.com Tel:. 809-756-7004 www.yuma-del-mar.com

































































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