Retained as Development Advisor

Fort Lauderdale, Florida (December 1, 2004) – IAG Florida, Inc. (IAG), a prominent commercial real estate firm based in Ft. Lauderdale announced today it has been retained as development advisor for a new mixed use resort project in Providenciales, Turks and Caicos.

IAG was retained by property owner Oceanpoint Development after an exhaustive interview process. The company has recently acquired twenty acres of beach and marina property surrounding the Third Turtle Marina, on the north side of the island. The property also includes various cliffside and dockside structures comprising the original Third Turtle Marina hotel.

Plans call for creation of a luxury community including condominium, condominium/hotel, marina and specialty retail space. IAG is organizing the project team and is planning to submit master plans to local planning authorities in the upcoming spring.

In announcing its selection, Mark Ellert, President of IAG commented “Third Turtle is the heart and soul of Provo, and given the vision of its new owner, this will necessarily become the most unique mixed use development in the Turks and Caicos, mixing luxurious beachfront living with the amenities of Provo’s harborfront. We are proud to have been selected to help transform this vision into reality.”

IAG Florida, Inc. is active throughout Florida and the Caribbean, providing real estate advisory, brokerage and development services. In a similar engagement, it recently assisted in the redevelopment planning and acquisition of Valentines Resort and Marina in Harbour Island, Bahamas.