Dear Charles,

We are pleased to confirm that your proposal for the Bank Guarantee/SBLC has been approved
subject to the terms and conditions below:

Acceptance Terms:

 Total amount – USD100m to be issued in tranches

 Instrument: Cashed Backed Bank Guarantee or Standby Letters of credit
 Purpose – to be secure a term loan covering both capital and accrued interest, and importation
of vehicles and refine oil on credit terms.
 Issuing Bank-- DEUTSCHE BANK GERMANY- AG or CASSA DI RISPARMIO DI ASTI SPA. ITALY
 Term – 365days.
 Issuing Fee – 8% for CASSA DI RISPARMIO DI ASTI SPA. ITALY and
 10% for DEUTSCHE BANK GERMANY- AG
 Personal Guarantee – not required
 Debenture -- not required
 Property security –not required
 Corporate Guarantee – required for this transaction
 This offer is based on the credit assessment of your company.

What Next- Procedure:

1. We will send out this offer to you to review and when you accept it, we will create a draft
Bank Guarantee/SBLC and send it to you.
2. You send the instrument on to the lending bank or Supplier to review and make changes if
required.
3. Once your lender or Supplier approved the draft with their signature and stamp on it or your
signature on it, we will send you an invoice for the issuing charges along with an indemnity
document to you to sign.
4. When we received the signed indemnity document back, We will Send Pre-Advice of the
Instrument and relay copy to you and the payment for the issuing charges are paid.
5. We will SWIFT the Instrument to your bank, lender bank or Supplier Bank immediately
Whichever comes first based on your written Instructions on your firm Letterhead.
6. We will then send the relayed copy to you. No hard copy shall follow

We trust this is in order and we look forward to hearing from you