Stelios Americanos & Co LLC advised on Cyprus law

issues the joint venture between Fattal, the Israeli hotel management chain and

ISSTA, Israel's largest tourism company in the acquisition of hotels Cypria

Maris, Cypria Bay and Laura in Paphos, Cyprus.

The joint acquisition, follows the Fattal chain's international expansion and is part

of ISSTA's tourism-focused real estate expansion strategy.

ISSTA will be responsible for marketing vacation packages for these

hotels to Israelis, while Fattal will manage the hotels. ISSTA and TUS Airways

will operate at least four weekly flights from Haifa to Paphos, in addition to

the existing flights to Paphos from Ben Gurion Airport, in order to offer a

greater selection of vacation packages.

Stelios Americanos & Co LLC acted as Cyprus legal advisors, on

behalf of the joint venture, at this acquisition project related to the three

above Hotels, in Paphos.

Stelios Americanos & Co LLC's corporate lawyers performed the legal

due diligence of the hotels, drafted and negotiated the Share Purchase

Agreement and the Escrow Agreement.  The

banking finance team of Stelios Americanos & Co LLC was responsible to

draft and perfect the security documents including the Cyprus mortgages.  All was done in extremely tight deadlines to

the absolute satisfaction of all the parties involved.

The above project is indicative of the capabilities and clientele of Stelios

Americanos & Co LLC.