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M Private Residences

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Membership
Members (as of 2Q06)	82
Member goal	600 shareholders
Growth from LY	230%
Allow designated use?	2 family share plan available
Waiting list?	No
Fees
Membership deposit (highest)	$450,000 CDN (A share)
Annual dues (highest)	$14,500 CDN
Daily fee	0
Confirmed plan days	60
Additional day fee	None
# Membership plans	3
% Deposit refundable	FMV less 8% transfer fee
Refund increases with deposit?	FMV
Resignation ratio	3:1
Equity membership?	Yes
Real estate investment opportunity?	Yes
Destinations
# Destinations	7
# Homes	10
# Under construction	6
Planned	20 (2006); 100 (2009)
Real Estate
Average asset value	$2.4 million CDN
Average size	3,200 sq ft
Configuration	3-4 BR

Reservations
Member-to-home ratio	6:1
Advanced holiday reservations	2 lotteries
Confirmed reservations	4 long-term; 2 short-term
Travel restrictions	Maximum 3 weeks
Online reservations	No
Travel Services
Travel planning concierge	Yes
Destination host	Yes
Partners
Private jet services	None
Travel agencies	UniGlobe
Other partners	None
Club structure
% Owned vs. leased	10% on short term basis
% Deposit used for operations	None
Annual meeting	Yes
Membership advisory committee	Yes
Management strength
Principals	Experienced entrepreneurs
Hospitality experience	Experienced hoteliers
Real estate experience	Diverse
Celebrities	Yes
Year founded	2004
Total reservations executed	Hundreds

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