Herongate Properties, Inc.

BACKGROUND

HERONGATE PROPERTIES, INC ("HERONGATE") was founded in 1983 for the purpose of providing its US and European clientele with real estate services including the acquisition, management and eventual sale of income producing real property in the United States of America.

In 1988 HERONGATE became the West Coast representative of the IC Real Estate Group ("IC"). IC is a full service real estate company for North America and Europe. Since 2001 HERONGATE provides its services for the US-portfolio of customers of Hauck-Aufhäuser Privatbankiers KGaA, a Frankfurt, Germany, based privately owned bank. In addition, HERONGATE services a number of other individual German and US clients.

Through specialized consultants and advisors HERONGATE has the logistic network required to service a sophisticated international clientele.

HERONGATE is a diversified real estate service company with offices in the San Francisco Bay Area, California. Services include real estate acquisition, asset and property management, leasing, project management, development, financing as well as corporate, fiscal and tax services.

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