10.2  Share  Purchase  Agreement  with  Meridian  Pacific  Investments

 SHARE  PURCHASE  AGREEMENT


THIS  SHARE PURCHASE AGREEMENT made as of the 16th day of November, 2005, by and
between:

ISLAND  RESIDENCES  CLUB,  INC.  w  ith  an  address  at Box 1518. Williamsburg,
Virginia.  USA  ("SELLER");  and

MERIDIAN  PACIFIC  INVESTMENTS  HK  LTD).,  with  an address at 23 Fl. Wing Hang
Finance  Centre,  60  Gloucester  Road,  Wanchai,  Hong  Kong ("PURCHASER"); and

FRANCIS  STREET  PTY  LTD.,  with  an  address at level 1, 60 Toorak Road, South
Yarra,  Victoria  3141,  Australia  ("WARRANT  HOLDER").
WITNESSETH:

WHEREAS,  Seller  is  the  Island  Residences  Club,  Inc a Delaware corporation
("Corporation"),  which Corporation has issued capital stock of 6,812,000 shares
of  common  stock  at  $.0001  par  value  ("Shares"),

WHEREAS, Purchaser desires to purchase the Shares from Seller and Seller desires
to  sell  such  Shares  upon  the  terms  and  conditions hereinafter set forth;

NOW,  THEREFORE,  in  consideration of the foregoing and of the mutual covenants
and  agreements  contained  in  this  Agreement,  and in order to consummate the
purchase  and sale of the Corporation's Shares, it is hereby agreed, as follows:

1.0     Transfer  of  Shares.

SELLER  hereby authorizes and issues 6,000,000 of its common shares to PURCHASER
in  exchange  for  the  transfer  of  20.25 million shares of PT Island Concepts
Indonesia  Tbk ("ICON") to the SELLER, representing a 19.4% interest in ICON and
24.25  million  warrants  of  PT  Island  Concepts  Indonesia  Tbk  ("ICON")  to
SELLER  from  the  WARRANT  HOLDER.

2.0  Representations  and  Warranties  of  SELLER.

SELLER  hereby  represents  and  warrants  to  PURCHASER  that:

2.1  Authority.  SELLER  has the power and authority to execute and deliver this
Agreement,  to  perform  its  obligations  hereunder  and  to  consummate  the
transactions  contemplated  hereby.  This  Agreement  has been duly executed and
delivered  constitutes a valid and binding instrument, enforceable in accordance
with  its  terms.

2.2  Compliance  with Other Instruments. The execution, delivery and performance
of  this Agreement is in compliance with and does not conflict with or result in
a  breach  of  or  in  violation  of  the terms, conditions or provisions of any
agreement, mortgage, lease or other instrument or indenture to which SELLER is a
party  or  by  which  SELLER  is  bound.

2.3  Shares in ISLAND RESIDENCES CLUB, INC. The Shares to be issued to PURCHASER
shall  be  issued  as  fully  paid, non-assessable shares. SELLER shall take all
corporate  action  necessary for the issuance of the Shares, to be legally valid
and  irrevocable,  including  obtaining  the  prior  approval  of  the  board of
directors.

3.0  Representations  and  Warranties of PURCHASER and WARRANT HOLDER. PURCHASER
and  WARRANT  HOLDER  hereby  unconditionally  represents and warrants to SELLER
that:

3.1  Authority.  Both  PURCHASER  and  the  WARRANT  HOLDER  have  the power and
authority  to  execute  and  deliver  this Agreement, to perform his obligations
hereunder and to consummate the transactions contemplated hereby. This Agreement
has  been  duly  executed  and  delivered  by  PURCHASER  and WARRANT HOLDER and
constitutes  a  valid and binding instrument, enforceable in accordance with its
terms.

3.2  Title  to  PURCHASER'S  and  WARRANT  HOLDER'S shares and warrants in ICON.
PURCHASER  and  WARRANT  HOLDER  are  the  legal  and  beneficial  owner
of the ICON shares and warrants and have good and marketable title thereto, free
and  clear  of any liens, claims, rights and encumbrances. PURCHASER and WARRANT
HOLDER  have  the right to transfer these shares and warrants to SELLER pursuant
to  the  terms  of  this  Agreement.

3.3  Compliance  with Other Instruments. The execution, delivery and performance
of  this Agreement is in compliance with and does not conflict with or result in
a  breach  of  or  in  violation  of  the terms, conditions or provisions of any
agreement,  mortgage,  lease or other instrument or indenture to which PURCHASER
and  WARRANT  HOLDER  are  a  party or by which PURCHASER and WARRANT HOLDER are
bound.

3.4  Rule  144  Restriction.  PURCIIASER  hereby  agrees  that  such  Shares are
restricted  pursuant  to  Rule  144  and  therefore  subject  to Rule 144 resale
requirements,  as  applicable.

4.0  Notices. Notice shall be given by certified mail, return receipt requested,
the  date  of notice being deemed the date of postmarking. Notice, unless either
party  has  notified  the other of an alternative address as provided hereunder,
shall  be  sent  to  the  address  as  set  forth  herein.

5.0  Governing  Law.  This  Agreement  shall  he  interpreted  and  governed  in
accordance  with  the  laws  of  the  Stale  of  Delaware.

6.0  Severability.  In  the  event  that any term, covenant, condition, or other
provision  contained  herein  is  held  to  be  invalid,  void  or  otherwise
unenforceable by any court of competent jurisdiction, the invalidity of any such
term,  covenant,  condition,  provision  or Agreement shall in no way affect any
other  term,  covenant,  condition  or  provision or Agreement contained herein,
which  shall  remain  in  full  force  and  effect.

7.0  Entire  Agreement.  This Agreement contains all of the terms agreed upon by
the  parties  with respect to the subject matter hereof. This Agreement has been
entered  into  after  full  investigation.

8.0  Invalidity. If any paragraph of this Agreement shall be held or declared to
be  void,  invalid  or  illegal,  for  any  reason,  by  any  court of competent
jurisdiction,  such  provision  shall  be  ineffective  but shall not in any way
invalidate  or  affect  any  other  clause,  paragraph,  section or part of this
Agreement.

9.0  Gender and Number. Words importing a particular gender mean and include the
other  gender  and words importing a singular number mean and include the plural
number  and  vice  versa,  unless the context clearly indicated to the contrary.

10.0  Amendments.  No amendments or additions to this Agreement shall be binding
unless  in writing, signed by both parties, except as herein otherwise provided.

11.0  No Assignments. Neither party may assign nor delegate any of its rights or
obligations  hereunder  without first obtaining the written consent of the other
party.

IN  WITNESS  WHEREOF,  and  intending  to  be  legally bound, the parties hereto
have  signed  this  Agreement by their duly authorized officers the day and year
first  above  written.

ISLAND  RESIDENCES  CLUB,  INC
By:  /s/  Bob  Bratajaya
Bob  Bratajaya,  Director



MERIDIAN  PACIFIC  INVESTMENTS  HK  LTD.
By:  /s/Graham  James  Bristow
Graham  James  Bristow,  Director


FRANCIS  STREET  PTY  LIMITED
By:  /s/Graham  James  Bristow
Graham  James  Bristow,  Director