| . . . Bank Guaranties . . . |

IOANNIS HADJISYMEOU will furnish, if required a bank guarantee as security towards the purchase of property until the issue of the title deed. The relevant cost will be borne by the purchaser.

| . . . Tax Advantages . . . |

Retirees drawing a pension are exempt from withholding taxes at source, and may be taxed at the nominal rate of about 4% or less depending on income. Additionally, Cyprus has Double Taxation treaties with many European and other countries, safeguarding its residents from paying tax in both countries.