Application for                 Transfer

SEOUL, KOREA

Gentlemen :

We hereby request you to            the terms and conditions of the above

transferred letter of credit as follows :

Amount :  □increased by               to

□decreased by              to

Latest shipping date :

Expiry date :

Description of commodities and other conditions :

We agree to indemnify and hold you harmless against any and all losses, damages and expenses arising from your actions on this transfer.

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

Truly Yours,

Accepted by

Authorized Signature &                                           Authorized Signature &

Name of Second beneficiary                                Name of Second beneficiary