1. The operator of the raffle is EDC (Vanuatu) Ltd., a company incorporated in the Republic of Vanuatu.
  2. The raffle is operated and conducted under the laws of the Republic of Vanuatu.
  3. There will be 2,499 tickets sold at US$1,000.00 per ticket each, with a unique number between 1 and 2,499 inclusive, which will be allocated on a random basis by random generation on the EDC server.
  4. The maximum number of tickets that an individual may buy is five (5).
  5. Residents of Vanuatu are not eligible to purchase tickets in the raffle.
  6. All prizes (including refund of the ticket purchase price) will be delivered only to the registered purchaser of the relevant ticket or to that person's written order.
  7. Payment for tickets may be made either online by means of the payment gateway on the operator's website at WWW.EDC.VU or by remittance as follows:
  8. Bank: Royal Bank of Scotland
    Branch: 5-10 Great Towers Street, London EC3P 3HX, England
    Sort code: 15 - 20 – 25
    Tel: +44 (20) 7615 4364
    IBAN No: GB92RBOS15202510171469
    Account No: 10171469
    Account Name: Economic Development Corporation Ltd.
    Remarks: X [Number of tickets] Turtle Bay Ticket(s) for [Your Name]

  9. The draw will be conducted by means of either:
    (a) the withdrawal of ticket counterfoils from a rotated drum; or
    (b) the mechanical release of numbered balls from a rotating drum at the discretion of the operator
  10. The draw will take place in Vanuatu and will be made by a director or officer of Trustees International Ltd, a trust company wholly-owned by Barrett & Partners, accountants and auditors of Vanuatu.
  11. The date of the draw will be announced by the operator promptly after the sale of the last of the tickets, by publication on its website at WWW.EDC.VU and by circulation to all ticket holders by e-mail only. The draw shall take place within 60 days after the sale of tickets is completed (which could be as soon as 3 months and as late as the completion of the subscription to the Prospectus) but, in any event, not later than 31st December 2014.
  12. Except as may be required by Vanuatu law, neither the identity nor the personal particulars of purchasers of tickets will be disclosed to any party other than officers and staff of EDC (Vanuatu) Ltd and IOCS International f.m.b.a. strictly for the purposes of internal use in the business of those companies and their respective subsidiaries.
  13. The prizes, to be distributed on Distribution Date, shall be as follows:
    (a) First prize:     a 3 bedroom house in Paradise island (Value $375,000)
    (b) Second prize: a 2 bedroom house in Paradise island (Value $303,600)
    (c) Third prize:   a 1 bedroom house in Paradise island (Value $166,800)
    (d) Fourth prize: 1 ticket holder will receive US$50,000.00 in cash
    (e) Fifth prize:     2 ticket holders will receive US$25,000.00 in cash
    (f) Sixth prize:     5 ticket holders will receive US$10,000.00 in cash
    (g) Seventh prize: 10 ticket holders will receive US$5,000.00 in cash
    (h) Eighth prize:   50 ticket holders will receive US$2,000.00 in cash
    (i) Ninth prize: All other ticket holders will receive US$1,000.00 in cash

  14. The Distribution Date shall be within 30 days after the date on which vacant possession of the first three prizes is delivered to the winners or after the subscription to the Prospectus is filled, whichever is earlier.
  15. Officers and staff of EDC and IOCS are eligible to purchase tickets in the raffle on condition that they pay in current funds.
  16. Enquiries and complaints should be addressed to:
  17. EDC (Vanuatu) Ltd.
    First Floor, Orchid House,
    P.O. Box 79, Port Vila,

    Fax: +678-22997
    E-mail: raffle@edc.vu