Bio Istanbul is a biomedical development project over an area of 200 hectares (2,000,000 sqm) near Istanbul International Airport–‐ in partnership with the Turkish Government and a group of leading development executives.

This ecologically responsible community will consist of a world-class pediatric research hospital; biomedical research center and innovation campus; university; all through K-12 school; performing arts center; retail zone with restaurants, cafes, and shopping; commercial office space; and a low-density residential area with 6,000 units that have views of the naturally landscaped terrain.

In 2011, one of the largest US investment banks and a group of minority holders have invested through a convertible instrument of $207mn that has been used to invest in completing the land purchase, setting up the sale unit and kick off the planning and construction work.

Sales are on target with $25mn since mid-2013. Construction work will be awarded in Q2, 2014 for phase 1 for first delivery in Q3, 2015. Total sales will be in excess of $2.2bn for a total infrastructure and construction cost of $1.4bn.

The Company has top caliber management with Ivy League education and a cumulative 150-year expertise in construction, finance and the healthcare industries in US, Europe and the GCC.

Management has decided to buy back the outstanding convertible notes, and invite interested parties to subscribe to a capital increase through a preferred share instrument that will help financing the buy back and complete the phase 1 of the development.

The Offering is $150mn Preferred Shares at 5% yield for a period of 4 – 5 years.

Assumed value at exit is $400mn. Unlevered IRR is 25%. Subscribers will have 3 out of 7 board seats and will own 50% of the Company. Of the Project, the Company will own 55% while the Turkish government will own 45%.

Further details may be provided subject to signing an NDA.