Cape Verde No. 4 Fund

Fund Closed	31st January 2008
Redemption Date	31st January 2011* (Revised)
Cost of "right to purchase" contracts	€69.2 million
Date of next set of audited accounts	30th June 2010

Links to CISX announcements:

Delayed Escrowed 15% Penalty Payment
http://www.cisx.com/listedsecuritynewsdisplay.php?newsID=46343

Final results 30th June 2009
http://www.cisx.com/listedsecuritynewsdisplay.php?newsID=44492

Interim Results 31st December 2009
http://www.cisx.com/listedsecuritynewsdisplay.php?newsID=48077

Net Asset Value
Net asset value (NAV) per share as at 31st December2009 - €95.19

Further Information:

The Fund invested into 2 developments in Sal, namely Paradise Beach and Murdeira Beach.

A Fund Director undertook a site visit in mid February and has reported that there are currently 580 workers on the Paradise Beach development to bring the development in on time. Construction of the development is well advanced and progress can be viewed at www.paradisebeach-capeverde.com.

The latest Fund update can be found under the Literature Library section.

* 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.