Property Asset Management

At Midas we have a specific Property Asset Management division where we offer the following services:

   1.  We are appointed as the asset manager to a number of offshore vehicles investing directly
        in property throughout Europe. An example of this is our appointment as Asset Manager to
        Pactolus Hungarian Property plc which had Net Assets of £11.7m as at 23rd March 2006;

   2.  We undertake the management of a secondary commercial real estate portfolio of numerous
        properties in North West England, predominantly in and around the Macclesfield region;

   3.  We manage a number of properties in Central London which are subject to corporate let; and

   4.  We are also currently working directly on a number of development projects in Europe
        and the UK.