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ISSUE OF DOCUMENTARY CREDIT

TO: BANK OF CHINA,SHANGHAI BRANCH,CHINA

ATTN: L/C DEPT

FROM: COMMERCIAL BANK OF ETHIOPIA,ADDIS ABABA, ETHIOPIA

DATE:15-01-2009

WE HEREBY OPEN OUR IRREVOCABLE DOCUMENTARY LETTER OF CREDIT NO.LC/78563 FAVOURING M/S SHANGHAI CHEMICALS IMPORT AND EXPORT CORPORATION, 16 JIANG YAN LU SHANGHAI CHINA BY ORDER OF MAGIC INTERNATIONAL PLC, DEBRE ZEIT ROAD, ADDIS ABABA ETHIOPIA TO THE EXTENT OF USD 31067.10 CFR ASSAB AVAILABLE BY NEGOTIATION WITH ANY BANK AGAINST THE DOCUMENTS DETAILED HE REIN AND BENEFICIARY’S DRAFTS AT 60 DAYS AFTER B/L DATE DRAWN ON OURSELVES FOR 100% OF THE INVOICE VALUE.

1.SIGNED COMMERCIAL INVOICES IN FIVE COPIES SHECIFYING FOB VALUE AND FREIGHT CHARGES AND ALL COPIES CERTIFIED BY THE CHINA COUNCIL FOR THE PROMOTION FO INTERNATIONAL TRADE INDICATING EXCHANGE CONTROL LICENCE NO.749/000066 JANJUARY 02,2009

2.PACKING LIST IN FIVE COPIES INDICATING GROSS AND NET WEIGHT OF EACH ROLL

3.FULL SET OF CLEAN ON BOARD OCEAN BILLS OF LADING AND ONE NON-NEGOTIABLE COPY MADE OUT TO ORDER OF COMMERCIAL BANK OF ETHIOPIA AND NOTIFYING MAGIC INTERNATIONAL PLC MARKED FREIGHT PREPAID

4.CERTIFICATE OF ORIGIN ISSUED BY THE CHINA COUNCIL FOR THE PROMOTION OF INTERNATIONAL TRADE IN TWO COPIES

COVERING SHIPMENT OF 120 ROLLS 100MMx4Px350 AND 30 ROLLS 125MMx4Px350 TRANSMISSION BELT AS PER CONTRACT NO. 08PI/421/122 DATED DEC 26 2008

TERMS CFR ASSAB

INSURANCE COVERED LOCALLY BY BUYER

THE EXPIRY PLACE OF THE CREDIT IS CHINA

PARTIAL SHIPMENTS ARE NOT PERMITTED

TRANSHIPMENT ARE PERMITTED

SHIPMENT FROM SHANGHAI TO ASSAB NOT LATER THAN 21ST MARCH 2009

THIS CREDIT IS VALID FOR NEGOTIATION NOT LATER THAN 5TH APRIL,2009

ALL BANKING CHARGES OUTSIDE ETHIOPOA ARE FOR ACCOUNT OF THE BENEFICIARY

PROCIDED THAT ALL TERMS AND CONDITIONS OF THE LETTER OF CREDIT HAVE BEEN COMPLIED WITH, WE UNDERTAKE TO HONOUR YOUR CLAIMS IN ACCORDANCE WITH YOUR INSTRUCTIONS VALUE THREE BUSINESS DAYS FROM THE DATE OF RECEIPT OF THE SHIPPING DOCUMENTS AT OUR COUNTERS

PLEASE FORWARD THE ORIGINAL AND DUPLICATE SETS OF SHIPPING DOCUMENTS IN TWO SEPARATE LOTS TO US BY DHL COURIER SERVICE

THIS LETTER OF CREDIT IS SUBJECT TO UCP FOR DOCUMENTARY CREDITS (REVISION 2007)I.C.C,PUBLICATION NO.600

PLEASE TREAT THIS MESSAGE AS AN OPERATIVE CREDIT INSTRUMENT AND NO MAIL CONFIRMATION WILL FOLLOW

PLEASE ADVISE THE BENEFICIAR

Y

上海化工进出口公司

SHANGHAI CHEMICALS IMPORT AND EXPORT CORPRATION

16 JIANGYAN LU,SHANGHAI

商业发票

COMMERCIAL INVOICE

To

MAGIC INTERNATIONAL PLC

DEBRE ZEIT ROAD, ADDI S ABABA ETHIOPIA 日期

Date March14 2009 发票号

Invoice No. 106-009

合约号

Contract No. 08PI/421/122

信用证号

L/C No. LC/78563

装由

Shipped per GUANGHANG V.312 开船日期

Sailing about March 19, 2009

From SHANGHAI 至

To ASSAB

SHANGHAI CHEMICALS IMPIRT AND EXPORT CORPIRATION

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