Majestic Village No. 1 Fund

Fund Closed	31st May 2006
Redemption Date	30th September 2009* (revised)
Cost of "right to purchase" contracts	€13.2 million
Date of next set of audited accounts	30th June 2008
Anticipated distribution of accounts	Late November 2008

Links to CISX announcements:

Revised Redemption Date
http://www.cisx.com/listedsecuritynewsdisplay.php?newsID=33281

Interim Results 31st December 2007
http://www.cisx.com/listedsecuritynewsdisplay.php?newsID=33225

Final Results 30th June 2007
http://www.cisx.com/listedsecuritynewsdisplay.php?newsID=30821

Net Asset Value
http://www.cisx.com/listedsecuritynewsdisplay.php?newsID=30819

Further Information:

The construction is now well underway and, with the show home nearing completion, we would expect to see a greater volume of re-sales.

Monthly progress of the construction can be seen at
http://www.majestic-village.com

Next expected website update - December 2008

* This is an indicative date, subject to various factors disclosed in this Supplemental Memorandum, in particular, the completion and re-sale of "right to purchase" contracts and developments.