FREQUENTLY ASKED QUESTIONS

MEET THE DEVELOPERS

Who are the developers of The Alexandra Resort?
Alexandra Resort & Villas Ltd., a TCI domestic company.

Who are the main shareholders?
Prominent members of the business community including former Chief Minister, Mr. C. Washington Misick, JP; OBE; Mr. Philip Misick of Prestigious Properties, Sherlock Walkin of Walkin Marine, and current Chief Minister, the Honorable Michael E. Misick.

Who are the Misicks?
The Misick’s are one of the oldest families in the island, arriving over 200 years ago from Bermuda. Family members have included several chief ministers, members of the legislative council, and they currently own the leading real estate company and largest law firm in the islands.

COMMUNITY INFORMATION

What is the concept of The Alexandra development?
Excellent real estate investment opportunities for a vacation residence, second home, or primary residence, combined with fabulous ocean views from every unit.

When will the resort be completed?
The community is substantially complete and final completion is planned for December 2008.

How large is the entire resort?
The Alexandra offers 225 ocean view units, which include studios, one bedrooms, two bedrooms, and penthouses.

What facilities are currently available?
A large free-form swimming pool tennis courts, a temporary oceanfront fitness center, restaurant with oceanfront dining deck, and water sports.

What facilities will be added in the future?
An additional sizeable resort pool with lavish fountain, a spa and a new fitness center, and on-site sundries store.

What spa facilities will be available?
There will be two treatment rooms, one male sauna and steam room, one female sauna and steam room, hot and cold plunge pools and two vic cy showers as well as related spa services.

What fitness facilities will be available?
The new fitness center will be approximately 2,900 sq. ft., and will include free weights, weight machines, aerobic equipment and fitness classes. A temporary oceanfront fitness center is currently open.

How large are the pools?
The main pool is 8,000 sq. ft. and the second pool will be approximately 4,000 sq. ft.

What are the operating hours for the various facilities?
24-hour reception/security, restaurants open from 8a.m. through the evening.

Will owners get preferable rates to use facilities?
Absolutely.

What other facilities are available nearby?
A golf course, a variety of restaurants and fine dining, shopping (local establishments and high end boutiques), world-class spas, and medical facilities.

Where is the nearest pharmacy?
The nearest pharmacy is 1/4 mile from The Alexandra.

How close are the nearest medical practices and hospitals to the resort?
The nearest medical practice is approximately 1/4 mile and the hospital is about 3 miles.

Are there shops nearby?
Several sophisticated shopping plazas are within walking distance, and a large modern supermarket is 10 minutes by car. An on-site sundries store will be located at The Alexandra.

How far is the airport from The Alexandra?
15 minutes by car.

Is there transportation available to the airport?
Yes, it can be arranged upon request.

Are taxis available from the hotel 24 hours/day?
Yes.

THE PROPERTIES

Will all contracts be in English?
Yes.

How does the cost of buying in TCI compare to the other islands in the Caribbean?
There is a 9.75% Stamp Duty payable by the purchase on the purchase of property that will be paid by the developer for those who purchase during the Alexandra Extravaganza '06 only. There are no other additional costs, except legal cost.

How does the cost of buying on Providenciales compare to the other islands in the Caribbean?
The best comparison is the Cayman Islands. It is much less expensive to purchase in TCI and less complicated. Unlike most Caribbean islands, an Alien Purchasers License is not required.

Are The Alexandra Residence properties expensive compared to other properties on Provo?
No, they are less expensive than any direct competition and located on one of the top ten beaches in the world. The Misick family has held The Alexandra land for many years and consequently bought it at a much lower price than other developers. This savings is passed on to the buyers.

What types of local mortgages are available?
60-70% loan to value, rates are currently around 9.5%. Loans are currently available from TCI Bank, Scotia Bank, and First Caribbean International Bank.

Who will be handling the closing?
Misick & Stanbrook is the largest and one of the oldest law firms in the Turks and Caicos Islands. Senior partners hold QC and OBE designations. The firm acts on behalf of The Alexandra.

Will there be an owner’s association?
Yes, a Strata Corporation Company exists.

Can I resell my property?
Yes, at your convenience.

What costs are involved if I decide to sell my property?
The only cost included in the sale of property is the real estate agent’s commission, generally 6%.

Do I need to furnish my apartment?
The units are available fully furnished, however, you may opt to furnish your own apartment provided you purchase 6 months before completion of construction.

Do I have a storage area for personal belongings?
Yes, an owner’s lock-up closet in the unit, and additional space may be purchased or rented for additional storage.

What is the policy on household pets in the condominiums?
No pets are permitted.

Will any of the units be non-smoking?
All units in the rental program will be non-smoking. Smoking is permitted on balconies and owners may smoke in their own apartments if their residence is not part of the rental program.

TAXATION

What property taxes and other costs are involved with the purchase of real estate in TCI?
There is a one time Stamp Duty of 9.75% and legal fees of 1% plus cost related to procuring financing if required. No other costs are involved. Developer will pay all stamp duty for purchasers at our special event on May 13, 2006.

Is there a capital gains tax payable on selling the property?
No.

Are there any estate duties in TCI?
No.

Is there any income tax in TCI?
No.

Is there annual property tax?
No.

Is VAT (Value Added Tax) payable on property?
No.

Is it worthwhile buying the property through an offshore company?
Whether there is an advantage to purchasing TCI property in the name of an offshore company would depend on an individual’s permanent place of residence and the tax structure of that country. We suggest that you should seek independent legal advice on this matter.

Can I import furniture into TCI duty free?
No, however, if you purchase a furnished unit there is no duty.

PAYMENT TERMS

In what currency are payments made?
U.S. Dollar

What types of local mortgages are available?
60-70% loan to value, rates are currently around 9.5%. Loans are currently available from TCI Bank, Scotia Bank, and First Caribbean International Bank.

What is the payment structure for existing units and pre-construction units?
EXISTING INVENTORY (Lady Rose and Prima Donna buildings):
10% of the Purchase Price is due upon contract signing, with the balance due upon closing.

PRE-CONSTRUCTION INVENTORY (Marilyn and Katerina buildings):
•Upon Signing the Purchase Agreement, 10% of the Purchase Price is due.
•Upon completion of the foundation of the building, 20% of the Purchase Price is due.
•Upon completion of the belt-beam of the building, 20% of the Purchase Price is due.
•Upon completion of the roof of the building, 20% of the Purchase Price is due.
•Upon issuance of the Certificate of Occupancy the remaining 30% of the Purchase Price is due.

RENTAL MANAGEMENT PROGRAM

Can I place my residence in or out of the rental program?
Yes, although notice is needed.

How is the rental revenue split between the resort and the owners?
60/40% in favor of the owners - the highest return in Provo - other resorts pay 45/55% in favor of resort.

Do I need to pay any of the rental costs?
The owners pay water and electricity for their individual residences and the resort pays for cleaning and rental staff.

How often do I receive my payments?
Payments are made quarterly within thirty days following the close of the quarter.

Are there any restrictions on renting my property privately?
No.

IMPORTANT NOTEs:
•To view the Management Agreement, please go to OwnAlexandra.com/extravangaza.asp and click on the link for "Rental Management Program".
•For additional inquiries about the rental income opportunities, please contact Karen Misick of Prestigious Properties via phone: (649) 232-3204 or via email: Karen@prestigiousproperties.com

CONSTRUCTION AND MAINTENANCE

Which architects designed the properties?
Martin Lyn & Associates, headquartered in Jamaica, they have an expressive list of resort clients.

Can changes be made to the specifications and layouts of the properties?
Some changes may be possible, pre-construction, at a cost to the purchaser.

If I buy pre-construction or before the building is completed, what completion guarantees are available?
The Marilyn building has already met its pre-construction requirement. Construction will not begin on the Katerina building until a minimum number of properties have been sold. The Lady Rose and Prima Donna buildings are already complete and ready for immediate occupancy.

Who are the contractors?
Johnston International Limited - they are one of the largest construction companies in the Caribbean.

How can I be sure the construction will be completed, and without delay?
The developer has a fixed contract price with the largest and most reputable construction company in the Turks and Caicos Islands. This contract required bonding and includes penalty clauses for delays.

What is the expected completion date of pre-construction buildings?
The Marilyn Building has broken ground, and completion is expected by May 2007.

The Katerina Building and all infrastructure associated with it (second pool, spa & fitness center, fine dinning restaurant, reception/front desk, shopping area) will begin by December 2006 and completion is expected by December 2008

What are the warranties on construction and duration of warranty? Johnston International warranties construction for 1 year from the completion of building construction. Defects in workmanship are addressed on an item by item basis during the 1st year and beyond and major appliances are warranteed for 1 year from purchase of the unit from the Developer.

What items do the maintenance fees cover, and how much will the annual maintenance fee be?
The condo fees (Strata Fees) are $8 per square foot and includes your hurricane, fire and flood insurance, Strata Corporation liability insurance of $1 million per incident, upkeep of the common areas of the resort and the exterior of the condo buildings including the roof.

How will the annual maintenance charges be calculated in future years?
It will be based on the actual expenses of previous years as determined by the management company, verified by the auditors and approved by the owners association Strata Corporation).

Will there be heating and air-conditioning systems in the property?
All units have full central air conditioning. Heating is not needed.

What security systems will be incorporated into the properties?
There is night security and boundary fencing. Owners may opt to have additional security installed in their units.

Is the tap water drinkable?
Yes.

Who supplies the electricity?
Electricity is privatized in the TCI and supplied by PPC Limited (Provo Power Company Ltd.)

What is the standard electrical voltage in TCI and which plugs are needed?
US 110v, 60 Hertz, US plugs

Are there water/electricity shortages on Provo?
No.

Can I have private telephone and fax lines installed, and if so, how long does it take?
Yes, approximately one week.

Will there be internet access, if so, what speed?
Broadband DSL is available in every residence at an initial price of $50 per month.

What housekeeping services are available?
Owners may hire their own staff or use resort housekeeping. Cleaning for rental program units is included in the room rate.

CONDOMINIUM FEATURES

What will the kitchen style be like?
Spacious kitchen area with granite tops, hardwood cabinets and General Electric stainless steel appliances.

What will the bathroom style be like?
Granite counters, twin sinks in the main bathroom, bath and walk in shower in the main bedroom; pedestal design single sink in the powder room, and granite counter with single sink with walk in shower in 2nd bedroom.

What make/brand of kitchen equipment will be used?
General Electric or like quality.

What specification are the kitchen cabinets?
Italian made cherry wood laminate with stainless steel trim in our oceanfront building, and solid maple cabinets in our ocean view buildings.

What sort of air conditioning units will be used?
Carrier equipment

What is the square footage of each type of unit, and what are the room sizes?
Please view the floorplans on OwnAlexandra.com/floorplans.asp

What are the ceiling heights?
9 feet 6 inches

Are the units insulated for noise?
Yes.

Does the furniture package include televisions?
Televisions are located in the living room and bedroom, and cable subscription costs $50 per month.

How many parking spaces are allocated per unit?
One parking space is included with every residence.

GOLF AND LEISURE SERVICES

Is there a golf club nearby?
Yes, Provo Country Club?

Who can become a member of the golf club?
Memberships are available to residents of The Alexandra.

Will the course be open to the public?
Yes.

Are there marina facilities nearby?
Yes, several.

TURKS AND CAICOS ISLANDS (TCI)

What is the TCI currency system?
US Dollar

What language is spoken in TCI?
English

What airlines fly direct to TCI, and from which countries?
American Airlines, US Airways, Spirit and Delta fly directly from the U.S., Bahamas Airline and Sky King fly from the Bahamas, Air Jamaica from Jamaica, Air Canada and Air Transit from Canada, and British Airways from the UK via Nassau.

What is the government of TCI?
The TCI is an overseas territory of the UK, with a local elected legislature and a Governor appointed by the Queen. The established British Common Law applies.

As a non-national, can I buy a business in TCI?
Yes, there are generally no impediments to purchasing most categories of businesses.

Can anyone buy property in TCI?
Yes, there are no restrictions on who may buy TCI property.

Is an alien’s landholding license required?
No.

Can I apply for permanent residence?
Yes, but there is a cost involved. However, and investment of US$500,000 qualifies for the grant of permanent residence on Providenciales.

If I choose to live in TCI, can I work there?
Generally it is not difficult to find employment in TCI. However, a work permit is required.

Is the property freehold in TCI?
Property is freehold - the torrents system applies - the British Crown guarantees title.

Are there any legal safeguards for foreign investors?
Foreign investors are entitled to the same safeguards as "Belongers" (locals).

Why is title insurance not used in TCI?
Land Title registration in the Turks and Caicos Islands is based on the Torrents system and regulated under The Registered Land Ordinance. No title insurance is necessary because the Turks and Caicos Government Land Registry maintains a perpetual registration system where each change of title is registered and cross-referenced to cadastral survey maps.

Under this system, the registry is able to review the ownership history of every piece of land before it is registered to ensure not only that the land is owned by the transferor but also that the transferor has authority to sell the land and that all parties with any interest in the property, including financial institutions, consent to the transfer of the title. The title itself would reflect any encumbrances on the property and certified copies of the register can be obtained prior to any conveyance.

In the Torrents system, a land title certificate suffices to show full, valid and indefeasible title. An essential feature of the system is the guarantee by the Crown against loss arising by virtue of an error in the land register.

Is there a crime/drug/corruption/instability problem in TCI?
Crime is minimal; narcotics are not readily available; corruption and instability is not characteristic of TCI.

Does the island suffer from hurricanes?
Due to the mountainous areas in the Dominican Republic, this area is rarely impacted by hurricanes. In fact, there has been no impact from a hurricane in over 45 years.

What is there to do in Provo?
Most activities are based around the ocean with fantastic diving, fishing, snorkeling, kayaking, etc. A wide range of quality dining is on island, golf, horseback riding on the beach, sightseeing trips - including the conch farm, the oldest pre-Columbian wreck in the western hemisphere - day or half day excursions which can be booked through The Alexandra's on-site tour desk.

What is the standard for restaurants on Provo?
Excellent, and well above dining options in other parts of the Caribbean. There are many international bistros, and fresh seafood prepared with an island flair and fine wines are available throughout TCI.

Are there decompression facilities for divers on Provo?
Yes.