"HIGHLANDS" is the latest Residential Developement project in Volcan.

Set in a pristine valley about 7 kms from the center of Volcan on the road towards Rio Sereno.

The Google coordinates are: 8° 50' 45.20" N 82° 41' 24.81" W
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The Masterplan.

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IME VACATION OWNERSHIP GROUP

AN ALTERNATIVE TO WHOLE OWNERSHIP

THE AFFORDABLE WAY TO VACATION OWNERSHIP THROUGH A FRACTIONAL PURCHASE

The IME Group has recently formed IME Vacation Ownership Group, headquartered in Sarasota, Florida. Several years in planning, this new division of parent IME Group., Inc, a Florida corporation founded in 1980, brings a new dimension of property ownership to a discerning but growing market to provide an alternative to whole ownership and to those who desire an affordable way to enjoy vacations in exciting sometimes out of the way places. Providing the opportunity to acquire a property interest at a price point that is realistic, each owner's available time is also recognized in a manner that allows both passive and active amenities for all extended family needs.

Through careful selection IME Vacation Ownership Group has chosen areas that will appeal to those who seek to be away from the crowds in a casual and adventurous way, but with close proximity to the United States and, most importantly, at the right price.

With exciting locations in IME Group developments extending from the highlands of western Panama to the remote Atlantic beaches of the Bahamas out islands to Anna Maria Island, Bradenton, Florida, with convenient access to Disney and Central Florida, vacation ownership experiences are met at attractive prices that will instantly appeal.

THE GROUP PROPERTIES

SHADY PINES - A seven-unit enclave of single family houses in the enchanting highland town of Boquete, Chiriqui, Panama.

THE HIGHLANDS - a sixty-unit condominium community and part of an IME Volcán SA's 200-acre highland eco development in Volcan, Chiriqui, adjacent to the Amisted National Park and Volcan Baru.

SEABIRD COTTAGES - a six-unit single-family development in Greenwood Estates, Cat Island, Bahamas, just steps from eight miles of pink beach and the Atlantic Ocean.

BRIDGEWATER - a four-unit townhouse development in Bradenton Beach, with beach and marina access on Anna Marie Island, Florida.

FORM OF OWNERSHIP

Uniquely, the IME approach ro fractional ownership is that it allows a buyer to acquire a deeded ownership entitling eight weeks of use of a fully furnished home for 15.39 % of the total cost depending on the season chosen. This approach is also a practical answer to those who do not want the responsibility of the property for the periods when not in use,. as well as a buyer who wishes to purchase more than one fraction in anotber of the IME locations, and allows the first time vacation home buyer to affordably step onto the ownership ladder.

The cost of operating the properties during and after full development will be managed by IME Vacation Ownership Group through the local IME company owning each property with proportionate re-allocations to individual shareholder owners as 15.39 % interest is transferred. An annual operating budget will be established for each location. The budget will be guaranteed by IME Vacation Ownership Group for a period of two years from the certificate of occupancy of the first property. Upon completion of each property the shareholder owners will administer the property in accordance with an owners' association and company bylaws and will have full rights to establish operating rules. However, no change may occur that would affect right ro or quality of use of any property without a unanimous vote of the owner shareholders.

USE PLAN

Each owner has a share in the property entitling eight weeks use. The use plan is allocated into two seasonally priced groups. Group A has three eight week periods between November and April and Group B has three eight week periods between May and October. Maintenance periods of two weeks occur at the end of May and October. Within the group selected the periods rotate annually. However, by private agreement owners may exchange between themselves.

HOW TO PURCHASE

IME Group, Inc. acts as exclusive management and marketing agent for all its vacation ownership properties in the Bahamas, Panama and Florida, and administers all operations from its offices located in Northwood Business Park in Sarasota, Florida, developed by IME Office Parks LLC, an IME Group company (visit: www.imeofficeparks.com). Interested purchasers may visit by appointment to discuss details of the properties in the convenience and comfort of the IME marketing offices. Reserving an interest in any property may be accomplished through a reservation form with a nominal $1,000 refundable deposit placed into escrow with the IME Group law firm in Sarasota, Ferguson, Skipper, Shaw, Keyser, Baron & Tirabassi, P.A. (escrow agent). When three periods of Group A or B have been reserved, those buyers holding reservations will be invited to convert their reservation into a binding purchase agreement with adeposit of 30% of thc pcriod sales price placed into escrow uhtilCadeed of ownership or share certificate is transferred. At that time the initial 30% deposit wil be released to the local IME Group company for payment of the land component. Once construction of an individual property is started, notice will be given and four 15% stage payments will be due and submitted into escrow. Upon certification by a licensed surveyor. together with photographic progress pictures, the stage payments will be released by the escrow agent to the local IME Group company.

The stages

The balance of the purchase price of 10% will be due on or before 30 days' notice of completion of each property supported by an occupancy certificate. No external financing of the improvements will be utilized and each local IME company will complete construction through stage payments and, if necessary, by interest . free loans from its parent, IME Group, Inc. In the event constructionof any property has already been started, paymentsfor each period will be caluculated according to thestage of completion.

PRICING

Pricing details are subject to change without notice and vary according to location and property type, and interested purchasers should refer to the dated price lists for each property. However, as a guide, initial prices for a two bedroom house in Volcan or Boquete in the highlands of Panama are expected to start from $35,000 in Group B and from $70,000 in Group A. In Cat Island, Bahamas, a two bedroom house will start from $50,000 in Group B and from $100,000 in Group A. Prices for a two bedroom apartment on Anna Maria Island, Florida, will start from $60,000 in Group B and $120,000 in Group A.

IME VACATION EXCHANGE

An ability for an owner to exchange a period from Seabird Cottages in the Bahamas into Shady Pines, Boquete, or The High;ands in Volcan, Panama, or Bridgewater, Florida with another owner, subject to availability, shows how the affordable versatility of this benefit can enhance the vacation experience . in three widely different countries. This exchange ability into other worldwide locations can be further enhanced by individual membership through one of several qualified international exchange organizations that exist.

GLOBAL RESORTS NETWORK

Each owner will, upon completion, be provided with a membership to Global Resorts, a twenty year old company providing access to over 5000 resorts worldwide at prices that are extremely reasonable. Please visit www.globalresortsnetwork.com. The basic membership, valid for a fifteen year period and subject to a nominal annual renewal fee, is included in the purchase price.

SUMMARY

In today's fast paced world where value for money and flexible use of time has become so important, the IME Vacation Ownership Group program provides an exciting alternative to whole ownership where your hard earned investment dollars and enjoyment go hand in hand, Striving to provide properties that seek out the casual, unsophisticated vacation style to replace nightclubs and shopping malls, some owners will choose the uncrowded pink sand beach at Seabird Cottages in the Bahamas, or a mountain eco experience in The Highlands, Volcan, Panama, or the annual flower festival and E1.tropean ambiance of Boquete, Panama. For others, who at times want more activity, Bridgewater on Anna Maria Island will provide a happy balance of beach, boating, fishing and close access to golfing and all of central Florida's vacation attractions. The real appeal, though, of the IME Vacation Ownership Group program is that its owners have value for money, a secured property interest and, through internal exchange and with the worldwide Global Resortnetwork, freedom of choice.