Rosedale, North York Moors

The village of Rosedale Abbey is near the centre of the North York Moors. The village is the site of a former Cistercian nunnery, and has been inhabited since the mid-12th century. (The nunnery was destroyed by the Scots in 1322 and the stone was subsequently used by villagers to build their houses.) Bell End Farm was a typical working moorland farm until it fell into disuse in recent years. It was then developed into holiday homes (which won several awards), before being acquired by the Bond in 1994.

Rosedale is just one of 30 glorious UK and European locations that you and your family could enjoy - rent free for life - as investors in the Holiday Property Bond.

The Further Information below explains in detail how the Bond works. To find out more about Rosedale, the other 29 locations - and how the Holiday Property Bond could transform your holidays forever - visit www.hpb.co.uk.

The North York Moors National Park covers 553 square miles of the old North Riding.

It is bounded to the west by the Hambledon and Cleveland hills, and to the east by the high cliffs of the rugged North Sea coast.

The southern boundary follows the road eastwards from Thirsk, through historic Helmsley and the busy market town of Pickering (with its steam trains and castle ruins), all the way to Scarborough.

The peaceful, rolling, heather-clad moorland and unspoilt valleys create the perfect retreat for holidaymakers seeking to get away from it all.

How HPB works: The Bond is a life assurance bond investing, after initial charges, in properties and securities. Properties are booked for a no profit 'user charge' and Points issued with the Bond. There is a quarterly fee of under thirty pounds including VAT linked to RPI, with all other management fees paid from securities. Investment is from £5,000. Encashment may be made under the terms of the "Money Back Promise" referred to above. Otherwise you may encash after two years at a value linked to that of the properties and securities but you may not see a profit and may incur a loss because of initial charges and fluctuations in asset values. In exceptional circumstances encashment may be deferred for up to twelve months. No medical examination required.

This advertisement is issued by HPB Management Limited ('HPBM') of HPB House, Newmarket, Suffolk CB8 8EH. HPBM are authorised and regulated by the Financial Services Authority and are the main UK agent for Holiday Property Bond ('HPB'), issued by HPB Assurance Limited ('HPBA') registered in the Isle of Man and authorised by the Insurance and Pensions Authority there. Holders of policies issued by the company will not be protected by the Financial Services Compensation Scheme if the company becomes unable to meet its liabilities to them but Isle of Man compensation arrangements apply to new policies.

The Trustee of HPB is HSBC Trustee (Guernsey) Limited registered at Park Place, Park Street, St Peter Port, Guernsey, Channel Islands, GY1 1EE. The Securities Manager is Baillie Gifford & Co registered at Calton Square, 1 Greenside Row, Edingburgh, EH1 3AN.. The Property Manager is HPB Management (International) Limited ('HPBMI') registered at Ground Floor, Neptune House, Marina Bay, PO Box 67, Gibraltar.

HPBM, HPBA and HPBMI are part of the HPB Marketing Group and are not independent of each other. HPBM is able to advise only on HPBA's products.

HPB Management Ltd. Registered in England, No.1581593. Registered Office HPB House, Newmarket, Suffolk, CB8 8EH.