St. George Fund

• Investment Fund: Term 12/2005 in perpetuity.

• 20 investors. Equity at launch £2.42m.

• RBS debt (fixed rate) £4.32m at launch.

• Travelodge 55% or the rental income. Also, KFC and Bathstore.com.

• Travelodge lease geared to RPI for 25 years.

• Loan to value 59% in 4/2007.

• Complex syndication structured to offer investors (all SIPPs) superior income when compared to annuity rates.

For further information please contact evolve