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Review by Dr. Arvind Roy (dr.arvindroy@ebrahimabdulaal.com) on 01-Dec-2008 Comment: Chairman Lois Builders Ltd. Cyprus Dear Sir, Greetings & Best Wishes from Ebrahim Abdulaal Group of Companies WLL, (EAG), Bahrain. We EAG, are a diversified business house in the fields of Power & Water, Oil & Gas, Aviation, Telecomm & IT, Construction Services and Real Estate Development. We have been referenced thru highly placed reliable sources that your flagship group LOIS BUILDERS LTD. (LBL) is one of the most reputed Construction and Engineering Group from Cyprus. We EAG, are interested in setting up Joint Venture with a large Cypriot Construction Group such as yours LOIS BUILDERS LTD. for Civil Construction Projects, High Rise Towers, Commercial Complexes, Infrastructure and Electromechanical Projects in Bahrain and GCC Countries. To begin our partnership, EAG will offer LBL our in house projects in hand namely Dilmunia Resort at Al Marjan Island in Ras Al Khaimah, U.A.E., $ 130 million, comprising A Five Star Apartment Hotel with 210 rooms and 1200 apartments, villas etc. Also Marina Reef, A low rise three buildings complex, $ 25 million, in Bahrain, and several other projects in Bahrain on negotiation basis. Also we will help and assist LBL for other major Civil Construction, Infrastructure and Electromechanical Projects in Bahrain and GCC Countries thru our highly placed relations. We also have social housing projects in Angola & Nigeria and Real Estate Development Projects in Turkey as well, which could also be explored jointly. We would like to know if your LBL Group is interested in joining hands with us as our Joint Venture Partner, based in Bahrain then we would invite you as our honored guest to visit us in Bahrain at the earliest for a fruitful discussion and finalizing our relationship or we could visit you in Cyprus. We are also inclosing below draft of our proposed J.V. agreement for your consent to proceed further. We invite you to visit our web sites, www.ebrahimabdulaal.com; www.crowndilmun.com and EAG Profile. We are looking forward to receiving your prompt positive response ASAP. Best wishes Dr. Arvind Roy C.E.O. Ebrahim Abdulaal Group of Companies WLL P.O.Box. 20418 9th Flr, Aalia Tower Diplomatic Area MANAMA THE KINGDOM OF BAHRAIN Tel : +973-17533888 / 999 Fax : +973- 17536737 Mob : +973-39721666 ------------------------------------------------------------------------------------------------------------------------ STRATEGIC PARTNERSHIP AGREEMENT This strategic partnership agreement has been signed between LOIS BUILDERS LTD. CYPRUS (LBL) and Ebrahim Abdul Aal Group of Companies WLL, Bahrain (EAG), today, as on ------------------- Dec’2008. Both parties have agreed as follows : 1. LBL and EAG will jointly set up a Joint Venture in Bahrain with 80-20% share holding. LBL will have majority 80% and EAG will take minority 20%. 2. Both the parties will have a side agreement that allows LBL to have full 100% operational control and management of the J.V. and all the profits and losses will be taken care by LBL. In exchange of this, LBL will offer EAG 5% from the Turnover of the J.V. for all its activities in Bahrain & GCC Countries. 3. The J.V. will be named LOIS ABDULAAL WLL or any other name agreed mutually. 4. The objectives of the J.V. are : 4.1. To Promote Business and activities of LOIS ABDULAAL WLL in Bahrain and GCC Countries. 4.2. To Undertake Civil Construction Projects, High Rise Buildings, Infrastructure and Electromechanical Projects in Bahrain and GCC Countries. 5. LBL will provide all relevant documents required for such J.V. registration purposes. 6. LBL will depute one of its senior professional with proven experience and expertise in this field to be based in Bahrain to promote & manage the business of J.V. in Bahrain & in the territory agreed mutually. 7. EAG will assist and advice LBL for all legal & commercial matters. 8. EAG will also offer LBL, its in house projects on negotiation basis and help LBL for tendering and award of other Civil Construction, Infrastructure and Electromechanical Projects in Bahrain & GCC Countries. 9. It has been agreed that this agreement will be constructed and governed by Laws of the Kingdom of Bahrain. 10. This agreement will remain valid until the proposed J.V. is formed and duly registered in the Kingdom of Bahrain. Mr. Ebrahim Abdulaal Alfahad Chairman Chairman Lois Builders LTD. Ebrahim Abdulaal Group of Companies WLL Rating: Excellent!