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Strategies & Market Trends : Asian Star Development (ASTV) Entertainment/sports/gaming -- Ignore unavailable to you. Want to Upgrade?

To: SSP who wrote (47)	7/29/1999 7:49:00 PM
From: CIMA	Read Replies (1) \| Respond to of 243

Real Estate and Entertainment properties: 1 - Dragon Villa Entertainment Center, Sports & Recreation Club, Shilong. Dongguan, Guandong province The Company has entered into a Joint Venture with Shilong City Development Co., a company owned by the Government of Shilong Town to develop a piece of property at the gateway of the Huangzhou Development District, a new district of Shilong Town. Asian Star owns 80% of the Joint Venture and the Shilong Government holds 20%. Shilong is known as one of the “Four Famous Towns in Guandong History” and it is the intention of the Joint Venture to develop the property into a thoroughly upscale and modern resort in the Greater Dongguan area. A 220-acre site along the river has been designated for this Project. The master plans for the project were approved by the City Government and construction work has commenced, with piling work already completed for Phase 1 and part of Phase 2. Phase 1 will consist of 69 residential units for time share or daily rental. The units will be built in 4-story villa-type buildings with lush landscaping. The entertainment center will be a 6-story building which will house the largest night club in Guandong, a country club with tennis courts, pool and other indoor activities, a restaurant, health club and sauna. A large swimming pool equipped with water slides will be the main attraction in the 132-acre Amusement Park which opened in August 1998. Phase 2 will consist of Management/Staff Quarters, Deluxe Apartments / Garages, a Four-Star Hotel, Single Dewellings, 4-Story Apartment and Indoor Swimming Pool Building. 2 - Shilong Cityhall Plaza, Dongguan, Guandong province. A 9,000 square meters site located in the Shilong Town. This site will develop into a 8-story building with a total floor area of approximately 35,000 square meters The first six floors are designed for shopping arcade and a theatre. The seventh and eighth floors are reserved for restaurants. Dongguan, because of its status as a leading entertainment center, is also a leader in the fashion and cosmetic retail markets. The Shilong City Plaza could very well turn out to be the leading center in fashion and cosmetics. 3 - Red Lady Lake Resort / Yacht & Country Club, Honstar Entertainment Center, Mapi (Maple City), Guandong Province, China The Company has entered into a Joint Venture Agreement with the Government of Mapi to develop Maple City, nicknamed the “City of the Future”. The Maple City Master Plan includes the new railway station and freeway system and includes 500 acres for an industrial park near the train station. 86 Acres are reserved for hotel, commercial, entertainment and condominium developments in the heart of the city. Approximately 4,000 acres are set aside around the lakeshore areas of Red Lady Lake for resort and residential use. Maple City is in the center of Guandong Province, the wealthiest and most developed Province of China, east of Guangzhou and north of Huizhou, with a total population of 62,460,000. The new “Beijing - Hong Kong” railway passes through Maple City, giving it direct access to these major cities by rail. The present South-West route also provides rail service from Maple City to other major cities of Guandong, the East route to Shantou and the West route to Zhanjiang. In addition, Guandong has one of the newest freeway systems in China making access to Maple City accessible from many cities by car and, when the new freeway is completed, travelers will have access to Pingtam Airport, a 30-minutes drive away and the only airport in the Huizhou area. The total population of the five major surrounding cities accessible to Maple City is approximately 17 million. Maple City enjoys the year-round sub-tropical Southern China climate. The Company presently owns three parcels of land in Mapi City and intends to develop the properties in the Joint Venture with the Government of Mapi City as follows: (1) A Hotel Entertainment Center / Exhibition Plaza will be built on 35,000 square meters in the heart of the New City Project. The building plans have all been approved, construction has commenced and the piling and foundation work has been completed. The main building will house a hotel with 45 rooms, a night club, a sauna and restaurant with an anticipated hotel expansion of up to 200 rooms in the future. The Exhibition Plaza will have 19 2-story buildings housing 195 units. (2) A commercial / residential complex in the City Center Gateway will be built on 33,000 square meters. All utilities and infrastructure work has been completed on this project and construction will soon commence. (3) A resort at Red Lady Lake featuring standard or custom designed luxury homes for permanent residence or relaxing weekend gateways. All these Projects will be consolidated with Dragon Villa Resort (See Entertainment Centers) to offer additional facilities for club members.