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FOR IMMEDIATE RELEASE

ioVest Development, LLC. Unveils New Luxury Community in Belize

Ara Macao Resort & Marina Now Pre-Selling

CHICAGO, IL, March 27, 2006 -- The Ara Macao Resort & Marina, a master planned exclusive condominium resort community and marina located in the popular Central American country of Belize, was officially unveiled March 29. The community is being developed in Placencia, in Belize’s growing Stann Creek District, on a 582 acre waterfront estate containing one mile of sandy beach frontage on the Caribbean Sea.

The project is being developed by ioVest Development, LLC., an Illinois based company with over $7 billion of real estate development experience spanning over 75 years.

The project features the region’s only full service marina with direct access to the Caribbean Sea. Additionally, Ara Macao Resort & Marina features all natural amenities, such as a rainforest nature preserve and a coral reef within swimming distance from the beach. The master resort site plan scheduled for occupancy in early 2007 calls for 456 luxury condominiums, 296 waterway villas, 260 hotel condominiums and 59 golf course home sites.

Ground breaking for Phase 1 construction was effectively launched the first week of September 2005. The completion of Phase 1 scheduled for Q1 2007 will include 1/3rd of the marina and marina waterway, a central utility plant, 72 condominium and 20 Villas, a lazy river swimming pool complex, a reception center (containing lobby, restaurant and bar, fitness center, convenience store, dive and tackle shop, administration and sales facilities), a rainforest preserve with nature walk and a plant nursery.

“With the groundbreaking of the Ara Macao Resort & Marina, a dream becomes reality for ioVest and its stakeholders,” said Paul Goguen, President of ioVest Management, Inc. “This project is designed to capture rising demand for vacation homes, retirement homes, and leisure travel, being fueled by the aging baby boomer population, as well as the young entrepreneur. Belize provides the perfect blend of history, geography and culture for this new exclusive community. And, Placencia is simply not a place in the sun, it’s a place to live and explore.”

The beachfront condominium residences include two and three bedroom floorplans with up to three full baths, large verandas, elevator access and private garages. The marina villas offer four distinctive residences all backing the marina waterway with available private docks and feature up to three bedrooms and 3 full baths, private garages and three levels of living space all with private verandas and a lanai.

During the pre-selling phase, the developer is offering membership to the Founders Club, a unique opportunity in which members receive special recognition and membership benefits.

For additional information about the Ara Macao Resort and Marina, please visit www.aramacao.com or contact Nina Dukes, Sales Consultant at ninad@iovest.com or call 1-877-7BELIZE (1-877-723-5493).

For information about the Ara Macao Resort and Marina Founders Club, contact Vince Minniti at info@aramacao.com or call 1-877-7BELIZE (1-877-723-5493).

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