Dear All

I recently contacted ACW with regards to construction works in Jumeirah Village and was advised of the following:

ACW Holdings were handed over the plots for development on 11th and 18th November 2007.

All plans have been approved for the developments. Soil testing has been carried out.

Since late last year ACW Holdings and its consultants Messrs. Al Hawraa have been waiting for Ellisdon, the consultant arm of Nakheel to allow them to start excavation works with there chosen company GEO foundation.

So far this year Ellisdon have changed requirements twice, first on the 12th February and second on the 16th March.

According to the consultants all our proposals and plans etc meet the requirements and were therefore resubmitted. We are again waiting for confirmation from Ellisdon to proceed.

Jumeirah Village itself has currently only a couple of projects started with Excavation works, one from Damac, sold in 2005. There are cranes on the Master Development putting in the infrastructure, sewerage pipes etc but to date no roads are laid.

ACW Holdings and its consultants are chasing to start works on a daily basis as it is in both their and their client's interests to move as quickly as possible.

At this time ACW are unable to give a start date but would confirm that all funds paid are protected and are held in an Escrow account with Dubai Islamic bank.