Residential Development: Management of Phoenix Properties has spent years engaged in real estate development, commercial and residential construction, and sales, developing nearly 10,000 new homes in multiple markets:

Greater Las Vegas, Nevada Greater Phoenix, Arizona Greater Chicago, Ill Southern California South Florida Greater Washington, D.C.

The successful focus of the Company's real estate development business has been customer satisfaction and profitability for itself and its investors. The Company is pursuing additional residential development opportunities in Greater Las Vegas, offering Torrey Pines luxury homes located at Torrey Pines and Mesa Vista.

The Torrey Pines luxury homes are offered on large estate lots and range in size from 3,100 square feet to 4,200 square feet. These homes include many luxury features such as:

PREMIUM CONTSTRUCTION FEATURES Soaring Volume and Vaulted Ceilings (per plan) Architectural Designed Media Niches (per plan) Ceramic Tile Entry Plush Wall to Wall Carpeting Easy Care Vinyl Flooring in Kitchen, Baths & Laundry Smoke Detectors per Plan 10 Foot Garage Ceilings w/ 8 Foot Garage Door (per plan) Upgrade Two Panel Interior Doors w/ Colonial Trim Rounded Interior Drywall Corners Rich Looking Knock-down Texture Site-Specific Engineered Post-Tension Foundations Painted Garages w/ Designer Sectional Door w / Lites Hose Bibbs Front and Rear Water Proof Electrical Outlets at Front and Rear Site Specific Termite Treatment ENERGY SAVING EXCELLENCE 50 Gallon - High Recovery Gas Water Heater R-30 Batt Insulation in Ceiling R-19 Total Wall Insulation Rating Water Saving Devices on all Plumbing Fixtures Gas Fired Forced Air Heating System Ground Mounted Air Conditioning System Re-circulating Water System for Quick Recovery Interior Laundry Rooms w / Gas Dryer Hook-Ups Thermal Barrier Dual Pane Windows UPGRADED DISTINCTIVE EXTERIORS Concrete European & Spanish Style Roofs in Various Colors Choice of 8 Unique Exterior Home Colors Elegant Oasis Front Yard Landscaping Package Classic Architectural Exterior Elevations Fully Enclosed Exterior Eaves for Easy Maintenance Spanish Lace Textured Exteriors w/ Sand Finish Trim 8 Foot Stained Fiberglass Entry Door (per plan) Designer Security Dead Bolt on Entry Door Front Yard Automatic Irrigation System Irrigation System Stub-Out to Rear Yard Rear Yards with Masonry Walls & Wrought Iron Gate Divided Light Windows on Front Elevations (per plan) Illuminated Address Numbers STANDARD CUSTOM FEATURES Elegant Gas Log Fireplace Appliance in Family Room Designer Windows in Dining Rooms (Per Plan) Spacious Lower Level Bedroom Suites (Per Plan) Traditional Painted Railings to Match Trim

AWARD WINNING KITCHENS Large Family Kitchens for Entertaining Furniture Grade Oak European Hidden Hinge Cabinetry Built-In Oven with Separate Cooktop (per plan) Designer Granite Countertops w/ Splash White Enameled Dual Compartment Kitchen Sink Moen Acrylic Handle Chateau Fixtures Built-In Microwave Oven 1/3 Horsepower Waste Disposal & Insulated Dishwasher Kitchen Islands (per plan) Ice Maker Line to Refrigerator Spacious Kitchen Pantry and Lazy Susan Cabinet (Per Plan) Designer Recessed Lighting in Kitchen (Per Plan) Semi-gloss Paint in Kitchen & Baths Large Kitchen Nook for Dining ELEGANT LIVING AREAS Furniture Grade Oak Cabinets in Baths &Linens (Per Plan) Clear Glass Shower Enclosures in Master Bath (Per Plan) Cultured Marble Countertops with Dual Vanities (Per Plan) Luxurious Soaking Tub in All Master Baths Separate Shower in Master Bath w/ Seat Spacious Walk-in Closets (per plan) Upgrade Polished Chrome Door Hardware Throughout Designer Plant Shelves and Vaults (Per Plan) Recessed Mirrored Medicine Cabinets (Per Plan) Oversized Plate Glass Mirror Over Vanity Privacy Doors to Water Closets in Master Bath (Per Plan) Large Powder Rooms w/ vanities (Per Plan) Upgrade Rocker Switches Throughout Family Computer Centers (per plan) ELECTRICAL PACKAGE Cable T.V. Outlets Throughout (Per Plan) Telephone Jack Outlets Throughout (Per Plan) Designer Lighting Package Throughout Pre-Wired for Two Ceiling Fans (Master Bed & Family Rm) Pre-Wired for Electric Garage Door Opener Powerful 400 AMP Electrical Panel Pre-Wired for Security System CUSTOM UPGRADES / OPTIONS Upgrade Cabinets and Countertops Upgrade Stair Railings Upgrade Patio Covers and Decks Upgrade Tile and Flooring Upgrade Landscaping & Stone Exteriors Upgrade Fireplace in Master Bedroom

In order to continuously improve its product, the builder reserves the right to alter floor plans, specifications, prices, materials, and features without notice. All square footage is approximate. Premium home sites and optional upgrades are available at additional cost.3-21-06