Its excellent facilities make Vilamoura an ideal location for holding conventions, meetings or business conferences. Meetings can be organized for approximately 4,000 people in complete comfort in existing facilities.

Lusotur, S.A., owns and manages the Vilamoura Marina (1,000 berths) and 4 championship golf courses, as well as a golf academy. The new Millennium Golf Course, which opened in May, is located in a beautiful setting surrounded by pine woods and unspoilt countryside. And the golfer will find plenty of variety and interest in its layout.

In August 1996, Lusotur, S.A. (whose Chairman is André Jordan), announced its Vilamoura XXI Program. Its main goals are to revitalize Vilamoura's urban area and develop the complex into an attractive residential, holiday and leisure center, boasting unique features as far as the European continent is concerned.

In a search for better solutions for the ongoing development of Vilamoura - while maintaining quality and environmental preservation - Lusotur, SA decided to roll all its efforts into one plan of action. Including several activities already underway or programmed, it has been labeled The Vilamoura XXI Program.

To put this program into operation, Lusotur, S.A. defined two key steps:

• Revive Vilamoura's currently built-up area, thereby enhancing the value of already established investments.
• Develop the overall project's 2^nd phase in terms of architecture, engineering and landscaping, while heeding concerns regarding the preservation of local environmental features, in order to offer a better standard of living to all, be they residents, tourists or mere passers-by.

Developing and putting these two fundamental guidelines in place will enable the company to achieve its major goal. That is to say, to establish Vilamoura as a properly-structured tourist center as embodied in The Vilamoura XXI Program. An innovative project aimed at developing tourist, residential, sports and leisure facilities in a coherent and balanced way, it will at the same time respect the natural environment.

This project's concept, and its implementation, have been developed by a team of experts in various fields. Successfully completing this project is achievable with the joint effort of all involved. This is especially true of various central or regional government departments, and the Loulé Municipality. All existing and future Vilamoura residents and businessmen who, together with Lusotur, S.A., share the same goal and responsibility to boost the value of current and future investments are also being counted upon. Everything is being planned so that the highest quality of standards for the entire project will always be maintained.

URBANIZATION PLAN — 2^ND PHASE

Approval of the Vilamoura Urbanization Plan — 2nd Phase, covering an area of 860 (2,124 acres) of the total 1,700 hectares, will mean that a plan for new facilities, encompassing tourist and residential complexes, together with leisure and complementary zones, can be developed and finalized. Linked to already developed zones, the notion behind it is to transform Vilamoura into one of the largest, and best, tourist and residential resorts in Europe.

• Colinas do Golfe, individual plots for villas alongside the Laguna golf course fairways, together with a number of tourist villages and enclosed condominiums;
• Terraços do Pinhal, apartment blocks and several villas, to be built opposite the Millennium Golf Course 18-hole fairways, with golf and sea view.

REAL ESTATE PROJECTS READY FOR SALE SHORTLY

• Cidade Lacustre, (Lakeside City) forms the core of the new development phase. It will become the major hub of entertainment and activity, including shops, restaurants and open-air cafés, surrounding the inland Marina, lakes and canals. Developments planned for this zone include new hotels, resorts and villas bordering waterways with private access to the inland Marina;
• Monte das Perdizes, townhouses recreating a typical village atmosphere, surrounded by the Millennium Golf Course 18-hole fairways;
• Pinhal Velho, with about 100 hectares of carefully preserved pinewoods, where large individual villa plots will be available in a luxury condominium zone.

TOURIST FACILITIES SCHEDULED

• Aldeia Hípica & Centro Equestre, (Equestrian Village) area to provide facilities for horse-riding center, with leisure and shopping playing an important role;
• Sports Center, including a cross-country running track and two soccer fields. In March 2000, the track hosted the 28^th IAAF world cross-country championships.

AWARDS

THE GREEN GLOBE
In 1996, Lusotur, S.A., became associated with GREEN GLOBE, a worldwide program established by the World Travel & Tourism Council.

Based on recommendations contained in the EARTH SUMMIT's Agenda XXI, "GREEN GLOBE" defined guidelines for sustainable development, environmental balance and nature conservation to be observed by various travel and tourism businesses.

In this way, Vilamoura demonstrates its commitment to becoming the first tourist and residential development in Southern Europe to achieve "GREEN GLOBE Destination" status.

In recognition of the significant work already carried out by Lusotur, S.A. in Vilamoura, the resort recently received the "GREEN GLOBE Progress Award".

BRITISH AIRWAYS

The British Airways Tourism for Tomorrow Awards recognize efforts to minimize tourism's impact on geographical and cultural environments, and are open to countries, hotel groups, resorts, national parks, tour operators and other tourism-related organizations.

Vilamoura XXI won the 1997 British Airways Tourism for Tomorrow "Europe Special" award. Breaking with tradition, the jury gave the trophy to a resort still being developed.

THE ISO 14001 ENVIRONMENTAL CERTIFICATE

On June 5 1998 Lusotur announced it had obtained ISO 14001 Environmental Certification for its Golf Course Environmental Management System.

Lusotur Golfes, S.A. a subsidiary company, created and developed an Environmental Management System that has been audited and certified by the ISO 14001 standard.

It is the first ISO 14001 certificate to be given to a company involved in the management of golf courses in Portugal, and one of the first in the world.

WHY COME TO VILAMOURA?

• An internationally-renowned destination;
• A fully-developed resort, equipped with all essential leisure facilities;
• 4 championship Golf Courses, selling more than 160,000 rounds a year, an exceptional Golf Academy, and 27 holes still to be built;
• The biggest, and one of the best, Marinas in Southern Europe with 1,000 berths and comprehensive boatyard;
• Occupancy in 5 and 4-star Hotels of around 80% throughout the year;
• More than 6,000 permanent residents, ensuring Vilamoura's lifestyle the whole year round;
• High-grade security provided by local authorities and Vilamoura's own security service;
• Vilamoura is bent on becoming the first resort in Southern Europe to achieve the status of a "GREEN GLOBE Destination";
• Vilamoura has virtually everything for the leisure community of the 21^st century.