HOTEL RAS RESORTS:
 
 Has Resorts and Apart Hotels Limited (HHAHL) was incorporated in the
 year 1985 to carry out the project of constructing a 3 Star Hotel in
 Silvassa.  The project was completed in two phases. Phase 1(30 rooms)
 of the Hotel was completed in November 1987 and Phase II(30 rooms)
 was
 completed in November 1990. Presently, the Hotel has 60 well
 furnished rooms in an area of 3.11 hectares with all other facilities
 such as restaurants, permit rooms, garden restaurants,
 banquets/conference facilities, health club, swimming pool, etc. The
 Project was funded partly by Equity and partly by Loans from State
 Bank of India and
 Gujarat State Financial Corporation. Due to High occupancy rate the
 company also intends to come out with public issue in due course for
 funding its expansion plans. 
 
 TIME SHARE EXCHANGE :
 
 In the year 1993-94 the Company started marketing Time Share Exchange
 in affiliation with Resort Condominiums International (U.S.A.) which
 has tie ups with over 2,800 resorts worldwide in the area of time
 share
 exchanges. Has Time Share Owners can have one whole week holiday for
 the next 30 years at the Company's Resort or at resorts of its
 affiliate.
 
 2008
 
 -Ras Resorts designated E-mail ID for Investors Complaints:
 rasresorts@vsnl.com
 
 2010
 
 -Ras Resorts recommend the declaration of dividend @ 10%.
 
 2011
 
 -Ras Resorts recommend the declaration of dividend @ 15%
 
 2012
 
 -Ras Resorts recommend the declaration of dividend @ 10%