Compensation

The compensation to be paid by the nominated Company for the transfer of property pursuant to paragraph 3 above shall be the issue to the Government of Belize 26,666,667 fully paid up shares of BZ $1.50 each in the capital stock of the nominated MADE by the Minister responsible for Finance, this 17th day of January, 2002. ...................................... (SAID W. MUSA) Minister of Finance Belize Port Authority 97 SCHEDULE (Paragraph 3) Notes ASSETS Property and equipment Leasehold property - Commerce Bight 1 Total non-current assets Cash and Bank Investments 2 Inventories 3 Accounts receivable and prepayments 4 Total current assets Total assets EQUITY AND LIABILITIES Advance by Government of Belize Contributed capital Capital reserve Unappropriated retained earnings Appropriated retained earnings Total equity Long-term debt Total non-current liabilities 5 Accounts payable and accruals 6 Customer deposits Long-term debt current portion 5 Total current and liabilities Total equity and liabilities 98 Belize Port Authority Note 1 – Property and Equipment ITEM BELIZE CITY PORT BUILDINGS BELIZE CITY PORT OFFICE WAREHOUSE #1 BLDG LOW LEVEL BERTH SECURITY BOOTH GENERATOR HOUSE MECH. WORKSHOP & GARAGE #1 MECH. WORKSHOP & SHED #2 MECH. GARAGE #3 PILOT BUILDING OPERATIONS & SECURITY SHED OFFICE - WAREHOUSE #1 CONCRETE VAT SECURITY OFFICER TOILET RAMP SHED #1 SECURITY BOOTHS FUEL STORAGE FACILITY SHED EXTENSION OFFICE CONCRETE BUILDING PIERHEAD TOTAL BUILDINGS LIGHTING LIGHTING - PORT COMPOUND PIER LOW-BERTHAGE REEFER OUTLETS TOTAL LIGHTING PIER BELIZE CITY PORT-PIER PROTECTIVE PILES Belize Port Authority 99 WOODEN PIER LOW BERTH FACILITY TOTAL PIER FENCING BELIZE CITY PORT VEHICLES GOLF CART [1] I GOLF CART TOTAL VEHICLES Note 1 - Property and Equipment (cont’d) BELIZE CITY PORT EQUIPMENT MANITOWOC CRANE 1 DOCK TRACTOR (OTTOWA) 1 FORKLIFT HYSTER (CONT. HLDG) 2 DOCK TRACTOR (OTTOWA) 4 FORKLIFT HYSTER (BUTANE) 1DOCK TRACTOR (OTTOWA) 1 LOWBED TRAILER (20') 5 TRAILER 40' COMBINATION 1 FORKLIFT HYSTER (BUTANE) 1 LOW-BOY TRAILER (34 TONS) 2 HIGHBED TRAILER (20') 1 CONTAINER STACKER 2 FLAT BED TRAILER 40' 2 FIRE EXTINGUISHERS 2 FLAT BED TRAILER 40' FUEL TANK TRAILER CAMPER. 100 Belize Port Authority FIRE HYDRANTS (3) GANGWAY BICYCLE RACK LINCOLN ARC WELDER AIR COMPRESSOR 1 SPREADER (40') 1 SPREADER (20') 1 GENERATOR HOUSE SHED #1 1 GENERATOR (CATERPILLAR) EXCELL PRESSURE WASHERS 4 NYLON SLINGS 3 PALLET JACKS 1TRIMMER POULAN 185R 1HYSTER 1 SUPER HAWK FUMIGATOR 1 MOTOROLA G1225-50 W REPEATER 1-13 HP PRESSURE WASHER (HONDA) WEATHER RADAR EQUIPMENT 1 HONDA GENERATOR WELDER 2 FORKLIFTS TOTAL BELIZE CITY PORT EQUIPMENT RADIO EQUIPMENT BELIZE CITY PORT FURNITURE & EQUIPMENT COMPUTER PROGRAMME FREEHOLD LAND TOTAL FIXED ASSETS BELIZE PORT Note 2 - Investments Time Deposits Bank of Nova Scotia Belize Port Authority 101 Belize Bank Ltd. Note 3 - Inventories Spares and accessories Stationary and supplies Stores Fuel, Lubricants Less: provision Note 4 - Accounts receivable and prepayments Trade receivables Trade receivables Advance to Employees Hurricane relief advance Prepaid insurance Interest receivable Less: provision Cash and Bank Bank of Nova Scotia Barclays Bank PLC. Atlantic Bank Ltd. Petty Cash