Circular 132 / 4.4.2006 / General Shareholder Update .

Extraordinary General Meeting / Notice to Shareholders

Taylor Architects has now completed the development plan for Clifden Glen and this is due to be approved by the board at a meeting on site next Saturday. The development plan will then be placed before the shareholders at an EGM as follows:

Venue: Shannon Suite, First Floor, Creggan Court Hotel, Athlone.
Date: Saturday 6th May 2006.
Time: 2.00pm.

An explanatory brochure setting out the proposed development will be posted to all shareholders on Thursday 13th April 2006.

Lodge Letting 2006 - SCI Update

Just 13 Lodge owners have completed the letting agreement with SCI for 2006. These owners property will now be promoted through SCI.

CGM assumes that all other lodges are either: (1) being sold and the owner is ensuring vacant possession; (2) under refurbishment in 2006; (3) taken private or (4) the owner is letting privately.

If you are letting privately and you are not using Clifden Glen Services (Christine Folan) for your changeover please be aware that you must arrange your own insurance cover for whoever is carrying out your changeover.

CGM recommends in teh strongest possible terms that owners only use CGS for changeovers.

Registration of Title

The return of only one land certificate is now required to complete the registration of properties at Clifden Glen and have an overall scheme map approved by the Land Registry. This land certificate is a cottage property in Delta partnership and the owner is doing everything possible to have this missing land certificate recovered or replaced.

Sales Campaign

Sherry FitzGerald Kavanagh will launch the property sales campaign at Easter. Advertisements will appear on national press oer Easter and from Monday 24th April on national radio as well.

Satellite TV in Clifden Glen

CGM is working on a plan to provide satellite TV by a cable to properties at Clifden Glen thus avoiding the need for external satellite dishes. Further details will be posted as soon as we have progress to report.

Childrens' Playground

All equipment is now installed and CGS is in the process of landscaping the area with wood bark and fencing.

CGM Management time devoted to this circular:

20 minutes (excludes management and attendance).

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Issued by Clifden Glen Management (2005) Plc
Market House, Churchtown, Mallow, Co Cork