Crane

completed

Millennium Investments Ltd. (”the Company”) is an established resort operator based in St. Philip, Barbados. The Company’s primary activity is the development and operation of The Crane Residential Resort (“The Crane”). The Crane was originally opened in 1887 as an 18 room cliff-top hotel above Crane Beach; however the Company has significantly developed the property through construction of eight apartments buildings housing a total of 232 accommodation units and apartments, a large swimming pool complex, restaurants and retail outlets. The apartments are offered for sale on a fractional ownership basis, and are also made available for short term rental as hotel rooms. The proposed IFC investment would be to support a project (“the Project”) to complete construction of 62 apartments in two buildings, with supporting infrastructure, and develop a back-beach area. In addition the Company seeks opportunities to develop elsewhere in Barbados. For this purpose it has acquired land and developed early plans for a new low density and low rise development on the site of the former Whitehaven Plantation and seeks similar opportunities elsewhere in Barbados.