SEOUL, KOREA

Advice  of              Transfer

Gentlemen :

We are pleased to advise you that the above mentioned credit has been            transferred to

you by the first beneficiary, so amendments hereafter will be advised to

Details of transfer are as follows :

Amount to be transferred :

Latest shipping date :

Expiry date :

Description of commodities and other conditions :

This advice is to be considered as an integral part of orignal credit. All terms and conditions are same to the orignal credit with exceptions indicated as above.

All drafts to be negotiated under this advice must be accompanied by this Letter and the amount of any such drafts be endorsed on the back hereof by the negotiating bank.

This advice is subject to The Uniform Customs and Practice for Documentary credits, 1993 Revision, International Chamber of Commerce Publication No. 500.

Truly Yours,

C.C. :                                                 FOR KOREA EXCHANGE BANK

Authorized Signature