Re: Bin Palace

Dear Karyna,

You will find attached some documents of the property Bin Ennakhil in Marr=kech:

• Statutes of Pamur Anstalt SA Liechtenstein

• Titre deed of the property in Marrakech owned by Pamur Sa

• Building permit

• Residential permit

The vendor offers the following procedure

• Formal binding offer for the purchase of Pamur Anstalt shares, subject t= a full due diligence

• Please confirm also our fees

• Transfer of a 10 % deposit on an escrow account of The Haze Trust to ope= at LGT Bank Vaduz

• Reception of all the legal documents of Pamur Anstalt SA and it mother c=mpany

• The staff in Marrakech is employed by a tiny Moroccan company that shoul= also be checked

• Due diligence of Pamur, it mother company and the local tax statement of=Pamur in Morocco (a notary can provide a quitus fiscal, which means that al= the taxes are paid)

• The vendor doesn't want to provide a liability guarantee. Therefor he re=uced his sale price

Could you please confirm that this way to procede is appropriate ?

Yours sincerely

Dear Marc,

Thank you for your response.

1. To fully research the potential undisclosed liabilities of pamur will ta=e time.

2. Is your vendor willing to provide a tax opinion that no tax is owed on t=ansfer or capital gains and there is no obligation or disclosure of money b=ing received outside of Morocco when the only asset is Moroccan?

3. Is your firm or Christies willing to stand behind the transaction, re tit=e, or tax guarantees, employment, agriculture or any local or state claim? =4. If not, what structure can you propose that doesn't obligate us t= accept a property and a company with unknown claims and virtually unlimite= liability?

S. The property title deed you sent only shows no liablities as of 6 years a=o?

6. Where do you expect the money to be sent?and to what entity? BVI, Lichte=stein, who signs on behalf of this transaction?

7. I assume you are aware that under new intl banking regulations, the ultim=te owner, ie your vendors name will most likely be required to be disclosed=(anti money laundering, sanctions, tax disclosure ). The world financial sy=tem has changed since your vendor built this property. Look forward to your=suggestions and answers. Your fees would be paid to the company or to your f=rm directly?

Thank you.

Best regards,

Karyna