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UPDATE i/vrn construction company, S.A., construction progress is ti many 'Villagers' already in PROJECT 1: ARIES. All 61 apartments have now been completely finished, including the installation of the swimming pool. The whirlpool spa bath is soon to be added and the poolside furniture is on its way. The bar/cafeteria is due to open in December with seating for up to approx. 50 people. There is a small shop and guest reception area which will offer registration facilities for guests and a night time security officer. The gardens are now maturing well and the recently planted palm trees bordering the 6th fairway are part of the final landscaping of this project, Almost all apartments are furnished and in use by owners or are being let on their behalf. PROJECT 3: GEMINI. The latest apartments to be completed in Pebble Beach Village. In phase 1, 16 apartments are ready for occupation during December. The pool area is finished with a waterfall as one of the attractive features and the gardens have been landscaped. In phase 2 of this project, the foundations are being dug - all 22 apartments have been sold for some time. PROJECT 4: LEO: PROJECT 6: LIBRA: PROJECT 8: AQUARIUS. These three projects are at a similar stage of development with the foundations of the initial phases approaching completion. All three projects are over 65% sold out. PROJECT 5: VIRGO: The 1 st phase of this project (30 apartments) is due for completion during January 1988. It is anticipated that the remaining two phases will be finished by the end of 1988 which will complete the western boundary of Pebble Beach Village bordering the 6th fairway and 5th green of the first Amarilla Golf and Country Club course. PROJECT 7: SCORPIO: Sales have progressed so well that it is almost being built as one phase of construction. Building is up to roof level in phase 1 and the rest of the project is well advanced. The architecture of Scorpio has much to do with its popularity, It is built in a Canarian style, with courtyard and fountain garden bordering the 1 Oth fairway. The 94 apartments all benefit from having an attractively landscaped pool area. '" ''" - ....... V - .i.--, : 5

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PROJECT 1: ARIES. PROJECT 3: GEMINI. PROJECT 7: SCORPIO: These three projects are at a similar stage of development with the foundations of the initial phases approaching completion. All three projects are over 65% sold out. '" ''" - ....... V - .i.--, :5

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UPDATEi/vrn construction company,S.A., construction progress isti many 'Villagers' already in

PROJECT 1:ARIES.All 61 apartments havenow been completelyfinished, including theinstallation of theswimming pool. Thewhirlpool spa bath is soonto be added and thepoolside furniture is on itsway. The bar/cafeteria isdue to open in Decemberwith seating for up toapprox. 50 people. Thereis a small shop and guest

reception area which willoffer registration facilitiesfor guests and a night timesecurity officer. Thegardens are now maturingwell and the recentlyplanted palm treesbordering the 6th fairwayare part of the finallandscaping of this project,Almost all apartments arefurnished and in use byowners orare beinglet ontheir behalf.

PROJECT 3:GEMINI.The latest apartments to becompleted in Pebble BeachVillage. In phase 1, 16apartments are ready foroccupation duringDecember. The pool areais finished with a waterfallas one of the attractivefeatures and the gardenshave been landscaped. Inphase 2 of this project, thefoundations are being dug- all 22 apartments havebeen sold for some time.

PROJECT 4: LEO:PROJECT 6:LIBRA:PROJECT 8:AQUARIUS.These three projects are ata similar stage ofdevelopment with thefoundations of the initialphases approachingcompletion. All threeprojects are over 65% soldout.

PROJECT 5:VIRGO:The 1 st phase of thisproject (30 apartments) isdue for completion duringJanuary 1988. It isanticipated that theremaining two phases willbe finished by the end of1988 which will completethe western boundary ofPebble Beach Villagebordering the 6th fairwayand 5th green of the firstAmarilla Golf and CountryClub course.

PROJECT 7:SCORPIO:Sales have progressed sowell that it is almost beingbuilt as one phase ofconstruction. Building is upto roof level in phase 1 andthe rest of the project iswell advanced. Thearchitecture of Scorpio hasmuch to do with itspopularity, It is built in aCanarian style, withcourtyard and fountaingarden bordering the 1 Othfairway. The 94 apartmentsall benefit from having anattractively landscapedpool area.

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