Art Boutique Inc (GREY:ARTB)

The management of the Company has been actively seeking potential new businesses so as to enable the Company to achieve a sustainable level of operations.

Various attempts have been made by the Company in trying to achieve such an objective, including considering the potential acquisitions of certain businesses in Japan. Unfortunately, no agreements have been entered into by the Company despite efforts by the management. In November 2004, an opportunity for the Company to invest in a real estate development project arose whereby the Company might act as the developer of a land situated in the Airai State in the Republic of Palau for a resort hotel. The company continues planning to develop a resort property in Palau, in the period.

(Source: 10QSB for the quarterly period ended Sept 30, 2007)