St. Austell

• Some members of the Fund are already receiving income.

• Investment Fund: Term 11/2004 in perpetuity

• 12 investors – equity £3.6m at launch

• RBS debt at launch £2.5m – priority to amortise

• Travelodge – 56% of rental income. Also, Pizza Hut, Costa Coffee, Johnsons Dry Cleaners and Bathstore.com

• Travelodge income geared to RPI, fixed uplifts or open market value for 25 years

• Loan to value 43% in 11/2006

• Complex syndication structure to offer investors (all SIPPs) a superior future income flow when compared to annuity rates

• Some members of the Fund are already receiving income.

For further information please contact evolve