A JOINT RELEASE – DROGHEDA PORT COMPANY AND CASTLEMARKET HOLDINGS, A SUBSIDIARY OF REAL ESTATE OPPORTUNITIES LTD (REO)

15 January 2008 - Bremore Ireland Port Ltd, the joint venture between Drogheda Port Company and Castle Market Holdings Ltd, announces today that it will seek to develop a Port Master Plan with Hutchison Westports Ltd for the new €300 million deepwater port at Bremore in north Co Dublin.

The signing of a Memorandum of Understanding between Bremore Ireland Port Ltd and Hutchison Westports Ltd paves the way for the next phase in the development of the deepest port on the east coast of Ireland. Bremore Ireland Port hopes to be in a position to submit a full planning permission application in the next 12 months.

The development of Bremore is a strategic response to the impending deficit in port capacity not only at Drogheda Port but also on the east coast of Ireland. The new deepwater port will provide additional choice to Ireland’s importers and exporters, and accommodate new short sea shipping services to the United Kingdom, Europe, Scandanavia and the Baltic States.

Bremore Port will be designed and operated to provide the highest environmental standards and respect for the local community. It is anticipated that a diverse business district will be created around the port bringing widescale economic benefits to the Bremore/Balbriggan area and presenting lifestyle opportunities for local people to work in their local area.

Bremore Ireland Port Ltd is a joint venture partnership between Drogheda Port Company and Castle Market Holdings Ltd, a wholly owned subsidiary of Real Estate Opportunities Limited. REO’s business in Ireland is managed by Treasury Holdings.