MOVING FORWARD

It's time for a short update about Liberstad and what has been happening lately and what will happen going forward. We have in the last couple of weeks worked hard to answer all the emails we've received with questions about the project and requests for plots. There is now over 120 people on the interest-list who wants to buy land in Liberstad and the number is growing every day.

The interest list is only an indication of whether it will be possible to finance the purchase of the main property through a pre-sale, and we do expect a good number of those on the interest-list to back out for different reasons. Therefor we will continue to accept requests for land and we recommend anyone who is interested in buying plots in Liberstad to sign up on the interest-list.

We have concluded that there is such great interest in the project and requests for plots that we have decided to proceed to the next step in the process. Like I'm sure most of you know the process of implementing a project like Liberstad is a long and complicated path through a heavy overgrown bureaucracy, and it will probably still take some time before we can establish Liberstad and begin the construction of Norway's first private city.

Before we will even consider going forward with the presale we must ensure that the property in Marnardal can be regulated for a project like this and that we will be granted building permits for the high number of cabins and houses we want on the property. Another challenge is whether or not we can be granted a concession (licence) to buy the property, so there is still a few questions we would like to clarify before we start the presale.

We are now working on the licensing and the regulatory process together with Marnardal municipality and we greatly appreciate the goodwill and the positive attitude we have received from the local government in helping us establish Liberstad.

It's difficult to say how long it will take to get a clarification on the issues related to licensing and rezoning, but once this is clarified we will send out emails to everyone on the interest-list with more detailed information about the purchase and we will give those on the list the opportunity to reserve their plot before we announce the presale publicly.

Although there is a number of challenges ahead of us we have many positive indications that we will managed to establish Liberstad on the property in Marnardal, and we hope that everyone who wants to take part in the project and who wants to buy land in Liberstad has the patience and understanding that the procedure and the process of concession, rezoning and building permits will take its time in the Norwegian bureaucracy.