--------------------------------------------------------------------------------

ASSIGNMENT AGREEMENT

THIS AGREEMENT effective as of the 20th day of December, 2007.

BETWEEN:

Latin Star Developments Inc., a company incorporated under the laws of Nevis,
having an office at Main Street, Charlestown, Nevis

(the “Assignor”)

AND:

Star Resorts Development Inc., a public company incorporated under the laws of
the State of Nevada, with an office at 701 Brickell Avenue, Suite 1550, Miami,
FL 33131

(the “Assignee”)

(together, the “Parties”)

WHEREAS:

A.              The Assignor has rights to the shares and other assets (the
“Assets”) through the memoranda of understanding (the “MOU”), real estate
purchase agreement (the “REPA”) and all documents that are set out in Schedule
“A” of this Agreement (collectively, the “Memoranda”);

B.              The Memoranda may be assigned by the Assignor to the Assignee
without the consent of any other parties;

C.              In accordance with the Memoranda, the Assignor has paid the
amount of $3,450,000: the sum of $3,250,000 pursuant to the MOU and the sum of
$200,000 pursuant to the REPA. The $3,450,000 was paid by the Assignor in the
following advances:

  (i)

February 26, 2007 a first advance, pursuant to the MOU, in the amount of two
hundred thousand dollars ($200,000) ;

        (ii)

Prior to April 27, 2007, a second advance, pursuant to the MOU, in the amount of
two hundred thousand dollars ($200,000);

        (iii)

May 2, 2007 a third advance, pursuant to the MOU, in the amount of six hundred
eighty thousand dollars ($680,000);

        (iii)

May 18, 2007 a fourth advance, pursuant to the MOU, in the amount of one million
five hundred thousand dollars ($1,500,000);

--------------------------------------------------------------------------------

  (iv)

June 5, 2007 a fifth advance, pursuant to the MOU, in the amount of six hundred
seventy thousand dollars ($670,000); and,

        (v)

June 6, 2007 a sixth advance, pursuant to REPA, in the amount of two hundred
thousand dollars ($200,000)

(together, the “Advances”); and,

D.              The Assignor wishes to assign, and the Assignee wishes to
assume, all of the Assignor’s right, title, interest in the Assets based on the
terms and conditions set out herein.

NOW THEREFORE THIS AGREEMENT WITNESSETH that in consideration of the mutual
covenants contained herein (the sufficiency whereof is hereby acknowledged by
the Parties), the Parties hereby agree to and with each other as follows:

1.

Assignment. The Assignor hereby assigns, and the Assignee hereby assumes, any
and all right, title, interest and obligation set out in the Memoranda and the
Assignee further agrees to be bound by the terms and conditions of the Memoranda
as if it were an original signatory thereto (the “Assignment”).

    2.

Effect of Assignment. Except as amended by this Agreement, the Parties
acknowledge that the Memoranda remain in full force and effect.

    3.

Consideration.

    3.1

In consideration for this Assignment, the Assignee agrees to pay and the
Assignor agrees to accept 6,900,000 fully paid and non-assessable shares in the
common stock of the Assignee (the “Assignment Price”), payable on or before the
completion of this Assignment.

    3.4

The completion of this Assignment will take place upon the delivery of the
entire Assignment Price by the Assignee to the Assignor.

    3.5

The Parties acknowledge and agree that the Assignment Price represents their
joint, best estimate of present fair market value of the Assignment.

    4.

Achievement Payments.

    4.1

In consideration of the Assignor having contributed to the creation of
circumstances that will permit the Assignee to participate in certain additional
business opportunities that potentially increase the value of the Assets, the
Assignee will use good-faith efforts to cause the following (each, a “Triggering
Event”):

  (a)              the written assignment of the Option, as defined in the MOU,
in accordance with and as contemplated by subparagraph 3(d)(iii) of the MOU to
the Assignee by Fiducia Capital S.A. (“FC”), on terms and in form and substance
acceptable to the Assignee in its sole discretion;

--------------------------------------------------------------------------------

(b)              the execution of a written agreement, on terms and in form and
substance acceptable to the Assignee in its sole discretion, that the Assignee
is a 25% beneficiary of a concession by the Province of Neuquén, Argentine, of
certain additional land adjacent to the Cerro Bayo project to be developed as
part of said project; and,       (c)              the execution of a written
agreement, on terms and in form and substance acceptable to the Assignee in its
sole discretion, that makes the Assignee a partner in the development and
operations of the SMA Hotel & Spa (the “Hotel”), a hotel and spa resort referred
to in Recital VI of the MOU.       4.2

Upon the completion of each Triggering Event, the Assignee will issue to the
Assignor or its nominee, within 14 days following the satisfaction on the part
of the Assignee that the Triggering Event has been completed, 9,200,000 fully
paid and non-assessable shares in the common stock of the Assignee. The
9,200,000 fully paid and non-assessable shares will be paid following each
Triggering Event by the delivery of a share certificate representing 9,200,000
common shares to the Assignor or its nominee. The Parties agree that the
Assignee is not obligated to achieve the completion of one or all of the
Triggering Events and failure to do so will not be deemed a breach of this
Agreement.

      5.

Restricted Shares.

      5.1

The Assignor hereby acknowledges that upon the issuance thereof, and until such
time as the same is no longer required under the applicable securities laws and
regulations, the certificates representing any shares in the common stock of the
Assignee issued pursuant to this Agreement will bear a legend in substantially
the following form:

THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION
TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S
UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "1933 ACT").
NONE OF THE SECURITIES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S.
STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD,
DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED
HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933
ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR
PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE
REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE
WITH APPLICABLE STATE

--------------------------------------------------------------------------------

SECURITIES LAWS. IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY
NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.

    5.2.

The Assignor hereby acknowledges and agrees to the Company making a notation on
its records or giving instructions to the registrar and transfer agent of the
Company in order to implement the restrictions on transfer set forth and
described in this Agreement.

    6.

Representations of Assignor. The Assignor hereby represents and covenants that:

   

(a)              the Assignor is a corporation duly organized, validly existing
and in good standing under the laws of Nevis;

   

(b)              the Assignor has all requisite corporate power and authority to
execute and deliver this Agreement and any other document contemplated by this
Agreement to be signed by the Assignor and to perform its obligations hereunder
and to consummate the transactions contemplated hereby;

   

(c)              to the best knowledge of the Assignor, there is no claim,
charge, arbitration, grievance, action, suit, investigation or proceeding by or
before any court, arbiter, administrative agency or other governmental authority
now pending or threatened against any of the Memoranda or against the Assignor
as holder of such Standstill Agreement that, if adversely resolved or
determined, would have a material adverse effect on any of the Memoranda or the
value thereof; and,

   

(d)              none of the execution, delivery and performance of this
Agreement, or the consummation of the Assignment will conflict with, result in a
violation of, cause a default under (with or without notice, lapse of time or
both) or give rise to a right of termination, amendment, cancellation or
acceleration of any material obligation contained in or the loss of any material
benefit under, or result in the creation of any material lien, claim, security
interest, charge or encumbrance upon any of the Memoranda.

    7.

Representations of Assignee. The Assignee hereby represents and covenants that:

   

(a)              the Assignee is a corporation duly organized, validly existing
and in good standing under the laws of the State of Nevada; and,

   

(b)              the Assignee has all requisite corporate power and authority to
execute and deliver this Agreement and any other document contemplated by this
Agreement to be signed by the Assignee and to perform its obligations hereunder
and to consummate the transactions contemplated hereby.

--------------------------------------------------------------------------------

8.

Entire Agreement. This Agreement constitutes the whole agreement between the
Parties in respect of the Assignment contemplated hereby and there are no
warranties, representations, terms, conditions, or collateral agreements
expressed or implied, statutory or otherwise, other then expressly set forth in
this Agreement.

    9.

All Further Acts. Each of the Parties will do any and all such acts and will
execute any and all such documents as may reasonably be necessary from time to
time to give full force and effect to the provisions and intent of this
Agreement.

    10.

Jurisdiction. This Agreement will be governed by and construed in accordance
with the laws of the State of Nevada, and the Parties hereby attorn to the
jurisdiction of the courts of competent jurisdiction of the State of Nevada in
any proceeding hereunder.

    11.

Schedules. Schedule “A” is attached to this Agreement and is incorporated
herein.

    12.

Headings. The headings and captions contained in this Agreement are for
convenience of reference only and will not in any way affect the meaning or
interpretation of this Agreement.

    13.

Survival. Each party is entitled to rely on the representations and warranties
of the other party and all such representations and warranties will be effective
regardless of any investigation that the party has undertaken of failed to
undertake. The representations and warranties will survive the effective date of
this Agreement and continue in full force and effect until six (6) months after
the effective date of this Agreement.

    14.

Successors and Assigns. This Agreement will enure to the benefit of, and be
binding upon, the Assignor and the Assignee and their respective successors and
assigns.

    15.

Further Assignment. The Assignee may further assign all of its right, title,
interest and obligation under any of the Memoranda to any party without the
consent of the Assignor.

    16.

Notice. All notices and other communications required or permitted under this
Agreement must be in writing and will be deemed given if: (i) sent by personal
delivery; (ii) faxed with electronic confirmation of delivery; or (iii) sent by
internationally-recognized express courier or registered or certified mail
(return receipt requested), postage prepaid, to the Parties at the address set
out on the first page of this Agreement (or at such other address for a party as
will be specified by like notice). All such notices and other communications
will be deemed to have been received:

   

(a)              in the case of personal delivery, on the date of such delivery;

--------------------------------------------------------------------------------

(b)              in the case of a fax, when the party sending such fax has
received electronic confirmation of its delivery;

   

(c)              in the case of delivery by internationally-recognized express
courier, on the Business Day following dispatch; and

   

(d)              in the case of mailing, on the fifth Business Day following
mailing.

    17.

Meaning of “Business Day”. For the purposes of this Agreement, the term
“Business Day” means any day other than a Saturday, Sunday, public holiday under
the laws of the State of Nevada or other day on which banking institutions are
authorized or obligated to close in the State of Nevada.

    18.

Amendment. This Agreement may not be amended except by an instrument in writing
signed by each of the Parties.

    19.

Time. Time is of the essence to this Agreement.

    20.

Counterparts and Electronic Means. This Agreement may be executed in several
counterparts, each of which will be deemed to be an original and all of which
will together constitute one and the same instrument. Delivery of an executed
copy of this Agreement by electronic facsimile transmission or other means of
electronic communication capable of producing a printed copy will be deemed to
be execution and delivery of this Agreement as of the day and year first written
above.

IN WITNESS WHEREOF the Parties have executed this Agreement as of the day and
year first above written.

LATIN STAR DEVELOPMENTS INC.

Per: /s/ David Craven   Authorized Signatory

STAR RESORTS DEVELOPMENT INC.

Per: /s/ Alejandro Aparicio   Authorized Signatory

--------------------------------------------------------------------------------

SCHEDULE “A”

to the assignment agreement between Latin Star Developments Inc. and Star
Resorts Development Inc. and dated effective as of December 20, 2007

1.              Memorandum of Understanding, dated April 27, 2007, between
Fiducia Capital S.A. and Latin Star Developments Inc.

2.              Real Estate Purchase Agreement between Santa Maria de los Andes
S.A. and Latin Star Developments Inc. for the purchase of a plot of land located
in the Agrelo District, Department of Lujan de Cuyo, Province of Mendoza

--------------------------------------------------------------------------------

[agreementx8x1.jpg]

--------------------------------------------------------------------------------

[agreementx9x1.jpg]

--------------------------------------------------------------------------------

[agreementx10x1.jpg]

--------------------------------------------------------------------------------

[agreementx11x1.jpg]

--------------------------------------------------------------------------------

[agreementx12x1.jpg]

--------------------------------------------------------------------------------

[agreementx13x1.jpg]

--------------------------------------------------------------------------------

[agreementx14x1.jpg]

--------------------------------------------------------------------------------

[agreementx15x1.jpg]

--------------------------------------------------------------------------------

[agreementx16x1.jpg]

--------------------------------------------------------------------------------

[agreementx17x1.jpg]

--------------------------------------------------------------------------------

[agreementx18x1.jpg]

--------------------------------------------------------------------------------

[agreementx19x1.jpg]

--------------------------------------------------------------------------------

[agreementx20x1.jpg]

--------------------------------------------------------------------------------

[agreementx21x1.jpg]

--------------------------------------------------------------------------------

[agreementx22x1.jpg]

--------------------------------------------------------------------------------

[agreementx23x1.jpg]

--------------------------------------------------------------------------------

[agreementx24x1.jpg]

--------------------------------------------------------------------------------

[agreementx25x1.jpg]

--------------------------------------------------------------------------------

[agreementx26x1.jpg]

--------------------------------------------------------------------------------

[agreementx27x1.jpg]

--------------------------------------------------------------------------------

[agreementx28x1.jpg]

--------------------------------------------------------------------------------

[agreementx29x1.jpg]

--------------------------------------------------------------------------------

[agreementx30x1.jpg]

--------------------------------------------------------------------------------

[agreementx31x1.jpg]

--------------------------------------------------------------------------------

[agreementx32x1.jpg]

--------------------------------------------------------------------------------