SUBSCRIPTION AGREEMENT

The undersigned, MULTI-SPHERE TRADING, INC., a corporation duly

organized and existing in accordance with the laws of the Republic of the Philippines,
with address at 302 BMG Centre San Antonio St., Paseo de Magallanes, Makati City,
duly represented by its Director and President, Ms. Reshma H. Lalwani, do hereby
subscribe to TWO HUNDRED THRITY ONE THOUSAND FIVE HUNDRED SIXTY
(231,560) common shares of stock of ANTALYA FACILITY MANAGEMENT CORP.
(being amended to CLUB UNITED PHILIPPINES CORP.) at a subscription price of
Php100.00 per share, or a total subscription price of TWENTY THREE MILLION ONE
HUNDRED FIFTY SIX PESOS (Php23,156,000.00), with an initial payment of FIVE
MILLION SEVEN HUNDRED EIGHTY NINE THOUSAND PESOS
(Php5,789,000.00).

IN WITNESS WHEREOF, I have hereunto set my hands this ____ day of

________, at ______________.

MULTI-SPHERE TRADING, INC. ANTALYA FACILITY

MANAGEMENT CORP.
Subscriber Corporation

By: Reshma H. Lalwani By: Rakesh H. Jesswani

Director and President Director and Chairman

SIGNED IN THE PRESENCE OF:

_____________________________ ________________________
REPUBLIC OF THE PHILIPPINES)
) S.S.

ACKNOWLEDGMENT

BEFORE ME, _____________________, in and for ____duly commissioned and

qualified to act as such, on this ______________,
Name Community Tax Date/Place SSS/Driver’ Expiration
Certificate of Issue License No.

all known to me and to me known to be the same persons who executed the foregoing
Subscriptions Agreement and being informed of the contents of the said instrument, they
acknowledged before me that they executed the same to be their own free will and deed.

This instrument, consisting of two (2) pages, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page
thereof by parties and their witnesses, and sealed with my Notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed the Notarial Seal this
________ day of _________________ at __________ Philippines.

NOTARY
PUBLIC

Doc. No. ____;

Book No.____;
Page No. ____;
Series of _____.

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Subscription agreement QCFL