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        GS Residential Properties (GRP) News:
         
        2008-03-31
        Condominium Saint Tropez
         
        Proposed for purchase

        Dear Shareholders,

        Communicate that the GS Residential Properties received this Monday proposed L$ 120,000 for the purchase of 100% of the land and assets of the condominium Saint Tropez in Zora from Rhawin Properties.

        The CEO of the Company, Mr Sabbas Mills, said that the proposal will be evaluated by the board and taken to consulting shareholders.

        Sincerely,

        Suzane Mills
        Investor Relations


         
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