The Grand Floridian

Nothing herein shall be construed as offering literature or a prospectus. No representation or warranties of any kind are intended to be made herein or should be inferred with respect to the economic returns or tax consequences associated with an investment with Capital Properties Trust, LLC. This presentation may contain forward-looking statements relating to future events or the future performance of prior investment or the joint venture. In some cases, forward looking statements may be identified by the use of terminology such as “may”, “will”, “should”, “plan”, “intend” “anticipate”, “believe”, “estimate”, “predict”, “potential” or ”continue”, or other comparable terminology. These statements are only predictions. Actual events or results may differ materially. Certain of the factual statements made in the enclosed materials are based upon information from various sources. While such information is believed to be reliable, neither Capital Properties Trust, LLC, nor any of its affiliates has independently verified any of such information. The enclosed materials and their contents are strictly confidential. By acceptance of these materials, each recipient agrees to keep the materials and their contents confidential and not to disclose them to anyone except such recipients legal and financial advisors, which advisors such recipient will instruct to maintain these materials in confidence.