YA. Akbas Immobiliare SA

The purchase, sale and administration of buildings, as an intermediary, on its own account and on behalf of third parties; the purchase, sale and exchange of land and buildings located anywhere on Swiss or foreign soil, the construction of buildings on its own account or on behalf of third parties; the execution of all adaptation work aimed at increasing the value of the company's properties. The company may participate in other similar companies and pursue a similar purpose; it may establish branches in Switzerland or abroad. The company may also contract and receive loans from third parties. In particular, the company intends to purchase from Mrs. Angela Ambrosini the share no. 1175 RFD Ronco s/Ascona at a price of CHF 400,000.--.