The Indo China Last Frontier Property Fund invests directly in premium land holdings in the world’s last developed area of Indo China including:

• Thailand
• Cambodia
• Myanmar
• Vietnam
• Malaysia

These countries hold the last available undeveloped beach front land and other premium sites. All of these countries are experiencing rapidly growing levels of economic growth and consistent growth in tourism inflows. The land parcels selected are all of the highest quality available in order to maximise yield and growth. Land parcels are secured only where land title is sound and are developed for tourism and leisure (high end resorts, hotels and mixed use) to capitalise on the enormous growth in these areas.

The Fund aims to provide capital growth over a five year period by investing in direct Asian property across a range of markets with exposure to any, some, or all of the following: Cambodia, Thailand, Myanmar, Hong Kong, Malaysia, Philippines, Singapore, Vietnam and Laos. The Fund is managed by Amarapura Group using a disciplined value-oriented approach supported by intensive, on-the-ground bottom-up fundamental research resulting in a portfolio of individual holdings, which are, in the view of Amarapura, undervalued and of high quality, on either an absolute or relative basis, and which have the potential for significant capital appreciation. The individual properties are then held to the fund maturity date or developed for optimal value for high end luxury resort accommodation and leisure in three distinct categories (large, medium and small) specifically for our panel of known brand resort managers and operators.

Amarapura Group Plc

Limited Partnership Interests (Cayman)

USD$500m

Only Wholesale or Sophisticated investors may invest in the Fund

5 years

2.0% p.a. of net asset value

20% of performance above Mercer/IPD Pooled Property Fund Index.

Direct property holdings in authorised countries

Range from 100% cash to 20 positions

Maximum leverage 50%

Amarapura is seeking to provide investors an IRR of over 25% pa over the 5 year period.