IMPORTANT NOTICE

These materials are provided for informational purposes only and do not constitute investment, tax or legal advice or an offer to sell or a solicitation of an offer to buy securities issued by the Manhattan Building Company or any of its respective affiliates (“MBC” or the “Sponsor”) to facilitate the development of real property projects described herein (“Bonds”).  The information contained herein is current as of the date hereof, but may become outdated or subsequently may change.  None of the entities constituting the Sponsor represent that the information herein is accurate, true or complete, makes no warranty, express or implied, regarding the information herein and shall not be liable for any losses, damages, costs or expenses relating to its adequacy, accuracy, truth, completeness or use.  These materials are subject to a more complete description and do not contain all of the information necessary to make a decision to invest in any Bonds that any entity constituting the Sponsor may issue in the future, which information includes, but is not limited to, the risks of acquiring Bonds.  No offer of Bonds will be made or accepted prior to receipt by an offeree of documents containing such information and the completion of all appropriate documentation, including formal subscription materials, that may be requested by the Sponsor with respect to prospective investment in Bonds. 

These materials are confidential and have been prepared solely for the information of the intended recipient. These materials are not intended for public use or distribution and is intended exclusively for the use of the person to whom it has been delivered by the Sponsor. This presentation is not to be reproduced or redistributed to any other person without the prior consent the Sponsor.  No reliance may be placed for any purpose on the information and opinions contained herein or their accuracy or completeness, and nothing contained herein may be relied upon in making any investment decision.

There can be no assurance that any investment objectives described herein will be achieved. Nothing herein is intended to imply that an investment in or secured by real property may be considered “conservative,” “safe,” “risk free” or “risk averse.” No regulatory authority has passed upon or endorsed this description or the merits of an investment in the real property developments herein or any Bond. The information contained herein should be considered to be current only as of the date indicated, and the Sponsor does not undertake any obligation to update the information contained herein in light of later circumstances or events.  This document contains forward-looking statements and projections that are based on the current beliefs and assumptions of the Sponsor, and on information currently available to the Sponsor that it believes to be reasonable; however, such statements necessarily involve risks, uncertainties and assumptions, and recipients may not put undue reliance on any of these statements. 

It is not the intention of the Sponsor or any of its affiliates to state, indicate or imply in any manner that current or past results are indicative of future results or expectations.  Past performance has no predictive value and is no indicator of future performance.