sLuxury Living within the Legendary Community of Palmil la s

Villas de Oro is a 32.5 acre residential golf community built along the Jack Nicklaus Signature golf course within the 900-acre Palmilla

resort in Los Cabos, Mexico.

The development, owned and operated by Gerry Burchard, will consist of approximately 200 residential units upon completion.

Home ownership options will include luxury villas and townhomes, custom lots and single-family homes, all with ocean and golf course views

and within walking distance of all the resort amenities Palmilla has to offer.

A multi-phase development, Villas de Oro has sold out Phases I and II and is currently selling and constructing Phase III, a collection of 22 golf

front villas. Special features include ocean and fairway views, spacious floor plans, granite counter tops, Jacuzzi tubs, marble tile floors, stainless

steel appliances and more.

In spring of 2007, Villas de Oro will launch Phase V with the release of 19 custom lots ranging in size from 13,242 sq. ft. to 18,522 sq. ft. Buyers

will have a choice of three custom home designs featuring four- and five-bedroom floor plans, all with 180 degree views of the Palmilla Bay and

the San José del Cabo coastline and city lights.

“My vision is to create a destination that owners will consider their primary residence rather than the second home,” says Burchard, a

successful financial advisor and asset manager for more than 25 years. “You’ll enjoy all the amenities you expect in a place you call

home – security, exclusivity, amenities and comfortable living – while still maintaining all the warmth and character of Mexico.”

Phase III of Villas de Oro is also instrumental in creating the “village” environment with many resort amenities, including a deluxe 9,000

square foot private tennis club with five lighted courts, including a center sunken court seating up to 150 spectators, a retail shop, swimming

pool, lap pool and children’s pool, state-of-the-art fitness center, and a lively yet exclusive club atmosphere. A guard-gated entrance will be

added and palm-tree lined streets, sidewalks, fountains and lush foliage will beckon residents to stroll the neighborhood.

“We believe Villas de Oro represents the best golf resort living here in Los Cabos,” says Burchard. “Residents here are within walking distance of

Las Tiendas de Palmilla, a new village center with shopping, dining and entertainment, as well as all the amenities of a world-class golf course

and luxury hotel, including spa and dining. You can even walk to one of the best swimming beaches in Cabo.”

s V I L L A S D E O R O s

s D E V E L O P E R G E R R Y B U R C H A R D s

Gerry Burchard has been a financial advisor and asset manager for more than 25 years. Burchard was first introduced to Baja when a

client asked for his help in acquiring land in Todos Santos, north of Cabo San Lucas. Burchard, the founder and CEO of Round Hill Securities,

a $3 billion asset management firm based in Northern California, flew down to Los Cabos to take a look. He liked the growth potential of

southern Baja so much that he purchased property for himself.

Soon, Baja became his favorite vacation spot and he quickly discovered and fell in love with the stately elegance of the Hotel Palmilla. On his

honeymoon in Cabo, Burchard and his wife were enjoying lunch at the hotel, overlooking the Sea of Cortés, when he realized that one day his

dream to become a developer of a unique community would begin at Palmilla. In 1999, he began buying ocean front property. This was when

he was introduced to Palmilla’s Jack Nicklaus golf course development and Villas de Oro. He knew immediately this was the opportunity to bring

his vision to life.

“I took a look at the completed Phase I and I liked the product; this is where I would live,” says Burchard. “This is the right product at the right

price. Villas de Oro is at the hub of everything -- golf, the ocean, the world-class Palmilla hotel, the new village center. And it’s all within

walking distance. It just makes good sense for the buyer and the developer.” In July, 2000, Burchard bought the Villas de Oro development.

With expansion plans underway, Burchard’s long-term vision for Villas de Oro, as full owner and developer, is becoming a reality. He now splits

his time between his home in Northern California and Los Cabos.

“With my financial background, I understand the importance of people’s money and their investments,” explains Burchard. “I’m right here on

site making sure everything is completed and meeting the high standards set throughout Palmilla. This is a real dream come true, not only for

me, but for those who purchase and live here. It’s a thrill for me to see people realize their dreams.”

Having studied and watched the Baja real estate market for 20 years, and of partial Mexican heritage himself, Burchard believes Palmilla to be

one of smartest real estate investments available today.

“With the 27-hole Jack Nicklaus golf club managed by Troon Golf, the Palmilla Tennis Club (now under construction), the newly renovated

and expanded One&Only Palmilla hotel, and the overall exclusivity of the community, the upscale shopping at Las Tienda village center, and

the ocean, it just doesn’t get any better than this.”

Although he’s a 16-handicapper, Burchard finds little free time to play golf these days. “I’ve been playing for 20 years, but I had my best round

at Palmilla with an 89 – that’s another good reason to spend more time at Villas de Oro.”

This master plan is an artist’s rendering and subject to change without notice.

V I L L A S D E O R O M A S T E R P L A N

NW

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S PHASE I

PHASE II

PHASE VI

PHASE III

PHASE IV

PHASE V(RIDGE LOTS)

PALMILLATENNIS CLUB

LAS TIENDASDE PALMILLA

MEDICAL CENTER(Future Amenity)

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9

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PALMILLA ESTATES

LA CALETA

VILLAS DE MONTANA

PALMILLA FAIRWAYS

OCEANO ALTA

OCEANO BAJA

PALMILLANORTE

PALMILLACOVE

VILLAS DELMAR

VILLAS DEL MARLas Buganvillas

PALMILLA CANYON

CALETA LOMA

GolfClubhouse*

ONE&ONLYPALMILLA

HOTEL

SunkenTennis

PRACTICE AREA

Las Tiendas de PalmillaRetail Center

To CaboSan Lucas

To Airport /San José del Cabo

Medical Center*

Sea of Cortés

PuntaPalmilla

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*Future AmenityThis master plan is an artist’s rendering and subject to change without notice.This master plan is an artist’s rendering and subject to change without notice.

PA L M I L L A M A S T E R P L A N

Villas de OroKm. 27 Carretera Transpeninsular - Palmilla, San José del Cabo, B.C.S., México · C.P. 23400Telephone (415) 462-5799 · U.S. Toll-free 1-877-591-3773 I www.villasdeoroatpalmilla.com

D E V E L O P E RGerry Burchard · San Francisco, California and Los Cabos, Mexico

T H E C O M M U N I T YVillas de Oro is located within the 900-acre master-planned resort community of Palmilla in Los Cabos, Mexico. The development is situated along holes No. 1 and No. 9 of the 27-hole, Signature Jack Nicklaus championship golf course. Villas de Oro is within walking distance of the Las Tiendas village center, the One&Only Palmilla hotel and miles of pristine beach.

A R E A O F P R O P E R T YVillas de Oro Phases I, II, and III – 7.5 acres; 54 units.New Development – 25 acres with approx. 150 residential villas, homes and custom lots. The overall project is located on the north side of the highway and along the fairways of the Palmilla Golf Course.

P R O D U C T / P R I C E R A N G EVilla floor plans now available range from approx. 2,000 sq. ft. to 3,000 sq. ft. (Square footage and prices subject to change, please see enclosed price sheet for current details.) In spring 2007, Phase V of Villas de Oro featuring 19 custom lots will be released for sale. Ranging in size from 13,242 to 18,522, all lots boast views of the Palmilla Bay and San José del Cabo’s beautiful coastline. Buyers will have a choice of three floor plans offering four- and five-bedroom layouts.

P R O J E C T A M E N I T I E SFull membership to the 27-hold Nicklaus Signature course and the private Palmilla Tennis Club is included with all purchases. The new 9,000 square foot tennis club will feature five lighted courts, deluxe work out facility, swimming pools, his/her lounge and changing rooms, bar and light dining.

s J U S T T H E F A C T S s

CaboSan Lucas

San Josédel CaboAirport

Villas de Oroat Palmilla

19

1Baja

California Mexico

Pacific Ocean

Los Cabos

Sea ofCortés

USA

San Diego

T H E C L I M AT ELos Cabos enjoys a moderate, year-round desert climate, tempered by cool breezes from the Sea of Cortés. The sun shines at least 340 days a year with an average winter temperature of 72 degrees Fahrenheit and an average summer temperature of 85 degrees Fahrenheit.

G O L FThe Palmilla Golf Club, opened in November 1992, was recognized as one of the best new golf resorts in the world.

The 27-hole masterpiece, managed by world-renowned Troon Golf of Scottsdale, Arizona, overlooks the Sea of Cortés and winds around centuries-old Cardon cacti and over rugged desert mountain terrain, down to the water’s edge.

R E S O R T H O T E LThe One&Only Palmilla is often called the “Jewel of Baja.” Owned and operated by Kerzner International, the resort underwent a $100 million re-building and expansion and now offers 172 ocean view rooms; two infinity-edge pools, the signature “C” restaurant created by famed chef Charlie Trotter, and a second restaurant serving “Mexiterranean” cuisine.

The One&Only spa, operated by Mandara, features 13 private spa villas with an enticing menu of services and treatments.

L A S T I E N DA S D E PA L M I L L AWithin walking distance of Villas de Oro, Las Tiendas offers residents an array of high-end shops, restaurants, cafés and is a focal point for entertainment. In addition, 10,227 square feet is allotted for executive office space with ocean and golf course views.