233 West 99th Street *

Amendment 45 Jan 18, 2012

El-Ad, which still owns four apartments, adds the building's 2009 and 2010 audited financial statements and its 2012 budget, lists the board of directors, and extends the plan for twelve months.

• Lists four apartments still owned by El-Ad (8C, 9E, 17B, 20A), holding 2,480 shares
• Adds audited financial statements for the Apartment Corporation for the periods ended December 31, 2009 and December 31, 2010
• Adds the Apartment Corporation's Budget for the calendar year 2012 (Exhibit C)
• Lists the present Board of Directors, with El-Ad having no board representation
• States El-Ad and its affiliates hold over 10% interests in other New York offerings listed in Exhibit D
• Extends the terms of the plan for twelve (12) months from the date of acceptance

Amendment 44 March 2010

This amendment discloses El-Ad's ownership, rents, maintenance, liens and financial position for the six apartments it holds at 233 West 99th Street, attaches the Apartment Corporation's 2010 budget and 2007–2008 audited financial statements, and replaces the Contract of Sale form.

• Contract of Sale form for El-Ad apartments replaced in its entirety; updated to correct the Seller's name and to reflect that there is no exclusive broker
• El-Ad owns 3,475 shares allocated to six apartments listed on Exhibit A
• Aggregate monthly maintenance charges for El-Ad apartments: $3,030.00; aggregate monthly rents received: $3,941.51
• Sales are not contingent on financing, and El-Ad is not offering financing
• Liens: El-Ad agreed not to encumber the Shares without Bank Leumi USA's consent and to pay agreed Release Prices on sale or transfer of the Apartments
• Apartment Corporation's Budget for calendar year 2010 attached as Exhibit C; maintenance charges calculated at $1.68 per share per month as of February 1, 2010
• Audited financial statements for periods ended December 31, 2007 and December 31, 2008 attached as Exhibit B
• Plan extended for twelve (12) months from the date of acceptance of this amendment

Amendment 43 2007

El-Ad Group, Ltd. offers for sale the seven apartments it owns (4,375 shares) and discloses its financial position, the corporation's 2005 audited statements, its 2007 budget, and an updated maintenance charge and board list, and extends the plan for twelve months.

• Seven apartments owned by El-Ad (4,375 shares) offered for sale: 8C, 9E, 11A, 11C, 17B, 17E and 20A
• Maintenance charge stated as $1.47 per share per month as of October 1, 2007
• Aggregate monthly maintenance for El-Ad's apartments is $6,056.40; aggregate monthly rents received are $4,374.31
• Audited financial statements for the period ended December 31, 2005 added; 2006 statements not yet available
• Apartment Corporation's 2007 budget added as Exhibit C
• Board of Directors list updated: Pamela Fairclough (President, Acting Treasurer), Chuck Lauster, Mary Smith, Cate Elliott, Conrad Levenson, Claudia Chernov, Katherine Lord
• Plan extended for twelve months from the date of acceptance of this amendment

Amendment 42 2006

This amendment discloses that El-Ad Group, Ltd. owns ten apartments in the building, which it now offers for sale, and it also updates El-Ad's office address, the Corporation's budget, and the plan's term.

• El-Ad Group, Ltd. offers for sale the ten apartments it owns, holding 6,895 shares listed in Exhibit A
• Monthly maintenance on El-Ad's apartments is $7,764.88, based on $15.96 per share annually for the calendar year commencing January 1, 2005
• Monthly rents received from El-Ad's apartments total $4,412.59
• Maintenance charge is $1.33 per share per month as of July 1, 2005
• New El-Ad office: 575 Madison Avenue, 22nd Floor, New York, New York 10022
• Corporation budget set out in Exhibit B, titled "2006 Approved Budget"
• Audited financial statements for the period ended December 31, 2005 not yet available; a later amendment will provide them
• Plan extended for twelve (12) months from the date of acceptance of this amendment

Amendment 41 Aug 5, 2005

El-Ad, an investor that bought 11 apartments' shares in 2001, discloses its holdings, their monthly maintenance and rents, the corporation's 2005 maintenance charge and budget, the corporation's mortgage terms, and how it will offer those apartments for sale.

• El-Ad discloses 6,895 shares allocated to 11 apartments (Exhibit "A")
• Aggregate monthly maintenance for El-Ad's apartments is $8,831.20; aggregate monthly rents are $4,810.60
• Maintenance charge is $15.96 per share annually for the calendar year commencing January 1, 2005
• Maintenance charges are $1.33 per share per month as of July 1, 2005
• First Mortgage of $2,300,000 from National Cooperative Bank, FSB, dated December 2, 2002, at 5.93%, matures January 1, 2013, with approximately $1,921,214.00 due at maturity
• Second Mortgage credit-line loan of $500,000.00
• Vacant apartments offered at Column (1) prices; occupied rent-controlled or rent-stabilized apartments offered first to tenants for 30 days
• If the First Mortgage cannot be refinanced, assessment would be approximately $35.60 per share