PUERTO CANCÚN: A SOLID AND TRUSTWORTHY DEVELOPMENT

Cancun, Quintana Roo, December 29, 2006. - Puerto Cancún is a solid and trustworthy Project that is being developed with strict compliance to Law and with the interest of diversifying Cancœn as a tourist and residential high quality destination.

Puerto Cancún is a guaranteed project, independently operated with the strict supervision of FONATUR, its founding partner, as well as with the support of third-party developers that continue trusting the Project.

• With the intention to provide clarity in the everyday transactions of the Project, since 1992 a holding trust was set-up by Banco Invex, FONATUR and Promotora de Desarrollos de Puerto Cancún. This trust provides an administrative, operations and general functioning structure with the sole objective to correctly develop the Project.
• This Trust protects the interests of all investments made in Puerto Cancún, since it receives the totality of the funds resulting from the sale of land lots. It is worth mentioning that this Trust has strict and clear rules as to how all project resources are utilized, in a way that the project is always protected.
• The construction works in Puerto Cancún are monitored by an independet supervising company that reports directly to FONATUR, at the same time as to the Technical Committee of the Project. The participation of FONATUR as a member of this committee is an additional guarantee to its everyday development, in a clear and transparent manner.

The urbanization of Puerto Cancún started in December of 2003 and has since showed great advancements and achievements that demonstrate the commitment of Promotora de Desarrollos de Puerto Cancœn to its clients and the destination:

• Up to date, more that 85 million dollars have been directly invested in Puerto Cancún, of which the majority has been applied to the urbanization of the Project, as can be seen with the construction advancement according to a pre-established timeline.
• It is worth mentioning that with the total sales concluded to date, the total development of the Puerto Cancún is guaranteed.
• The construction of the diverse third-party developers’ projects has initiated, and the handing over of the first residential lots is programmed to commence starting July 2007.
• Puerto Cancún will terminate the last phase of infrastructure development in July 2009, as is established in the Trust and Construction Works Contract approved by the project’s Executive Committee, reaffirming the solidity of the Project to all of its clients.

Promotora de Desarrollos de Puerto Cancún reaffirms its commitment and promise to its clients, the community and the authorities that it will complete this development project so important to Quintana Roo and Mexico.

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