Mr.

Rod Taylor
Chief Sales & Marketing Officer
Muscat Hills
Oman.

Jan 10, 2011

Dear Mr. Rod,

Sub: Muscat Hills Project - Oman

With reference to our ongoing discussions regarding your Muscat Hills project in Airport
Heights, we are of the view that the commercial plot in discussion has great potential and
Glorei and your collaboration should result in unique value proposition benefiting the project
and both parties.
As discussed during our meetings, Gloreis management has recently proposed the above to the
Board Executive Committee, who had agreed in principle that Glorei may explore various
propositions to add value to the subject plot through master planning services whereby Glorei
will take the lead role with a view to hold certain portion of the master plan subject to
attractiveness of the offered terms and conditions that would be mutually agreed upon in due
course.
Please let us know your thoughts on the above mutually beneficial strategy. Please note that
this letter is no way a binding contract.
We sincerely thank Muscat Hills for having offered this opportunity to us, and are keen to
explore business opportunities together with you in the future as well.
Thanking you,
Yours truly,
For Global Omani Development & Investment Co. SAOC

Mohammed Al Ghassani
Chief Executive Officer