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..BEYOND EXPECTATIONS
..

The diversification of Urs Windholz and Partners within
the property and golf estate development sector, initiated with the Mossel
Bay Country Estate in 1997, has once again proven to be a resilient business
model, with the Group now incorporating the Langebaan Golf Estate (Gary
Player Design), and Mossel Bay's Dolphin Bay Hotel and Villas, into their
ever growing fold.
The continued growth of the Group's core business - namely developing,
building and managing estates, hotels and leisure facilities - shows the
unabated demand for secure living in this southern part of South Africa
where nature's beauty, a superb moderate climate, and the best infrastructure
on the African Continent can be found.

Due to most of the top tourist attractions, including unsurpassed wildlife,
being located in the Western and Southern Cape, government laws regarding
environmental impact are strictly observed and adhered to on the Group's
Estates, with building footprints of less than 8% of each Estate area
allocated housing, leaving nature as untouched as possible.
The Group's Mossel Bay and Langebaan Projects are adjacent to Nature Reserves
and Heritage Parks which add to the tranquillity and relaxation for homeowners
- a balance seldom found in today's surroundings.
During 2003, the Group joined forces with Engel & Volkers Projects
in Cape Town, to further enhance sales efforts. As a franchise of E &
V, the International Property Group established in Hamburg, Germany, in
1977, all clients will have access to E&V's global marketing expertise
and referral services via their 83 property shops in Europe, and via their
affiliation with Christie's International Realty who in turn have offices
in the US, the Far East and the Pacific Rim.
Above all, domestic and further international investments into Western
Cape properties are already noticeable and have shielded the Group from
weakening global markets, despite the recent strength of the Rand.
As in the past, the Group will continue to focus on finding ways to add
value and increase returns on all homeowners' investments, with returns
of over 115% having been realised at the Mossel Bay Country Estate over
the last 3 year period. It is envisaged that similar results can be expected
from both Langebaan and the Dolphin Bay Hotel & Villas, with them
all offering the essential amenities to enjoy, namely
"LIFESTYLE -LEISURE -SPORTS"
In the meantime the Group's multi-national management will continue to
implement the proven concept of their Garden Route Developments, knowing
fully well just what it takes to successfully operate all types of Estates,
Resorts and Hotels.
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