Outstanding Processing Fee

INTERBANK PAYMENT SERVICE – ( SPI) 28 Tanfield Rd, Corydon CR0 1BT London.

Tel: +44 (0) 704 010 7575 Fax: +44 (0) 703 040 0224, +44 7005 803 721 E-mail: [email protected] OUR REF #: SPI/ACB/CBN/UK//AXL/R19/2005 YOUR REF#: CBN/NNPC/PED/34216-82 DATE: 21 - 12 -2005

Attn: Mr. Willy Sveen Kristiansen Dear our valued customer,

RE: IRREVOCABLE LETTER OF GUARANTEE. Issued on: Wednesday 21st Day of December 2005. Guarantor: Board of Directors of the Interbank Payment Services Beneficiary: Mr. Willy Sveen Kristiansen. Account Credit Bond Ref Code: NNPC/PED/34216-82-2005 Transfer Product Code: OPG/00013447000MBS/110 OF 21st December 2005. Amount to be Transferred: USD$36,400,000.00. Financial Instrument: Key Tested Telegraphic Swift Transfer (K.T.T.). This memo is intended after careful consultation, reviews and deliberation, to conscientiously reassure and guarantee one Mr. Willy Sveen Kristiansen, lawful beneficiary of Financial instrument Ref: OPG/00013447000MBS/110 of 21st December, 2005 valued at USD$36,400,000.00 that, upon the complete settlement of the required USD$36,400.00 which represent the outstanding processing statutory minimum fees of total funds to be transferred in accordance with the Financial Services Authority (FSA), that his funds as referenced above would be released in full via swift means to his nominated bank account as would be scheduled which is subject to bank confirmation within (48) Fourty Eight Banking hours. More so, the beneficiary is hereby further reassured that this memo serves as an irrevocable letter of guarantee of prompt release of the above referenced Financial instrument in full and that it is written, endorsed and sealed conscientiously, and this guarantee remains legally binding and its contents hereof, hence any variance in attitude to the above declared should be drastically measured. Also, any further delays or obstructions for the swift release of the above referenced Financial instrument to the benefit of the beneficiary after (48) Fourty Eight banking hours of the settlement of the outstanding processing statutory minimum fees as stated above will subject this institution to total reimbursement as desired by the beneficiary within (48) Fourty Eight banking hours payable to the benefit of the beneficiary. This Irrevocable letter of guarantee will be considered Null and Void upon the confirmable of the above referenced Financial instrument in the beneficiary´s

designated bank account satisfactorily and in good faith and neither party shall have no further right under this Irrevocable Letter of Guarantee thereafter.

This guarantee is issued in good faith without duress on this day as dated.

Guarantor:

DR. CHARLES McGrath Executive Director,

MR. Geoffrey HOWE, Director.

Foreign Transfer Dept.

N.B: In line with the very limited time frame for the disbursement of your funds, the treasury department has provided you with our Accredited offshore account as our fast acceptable method of receiving payment since payment directly to SPI account here in the UK may take up to ten business days to clear depending on the bank, state of origin, and amount. You are therefore advise to make th account details as stated thus: BANK: STANDARD CHARTERED BANK NO. 5002 SHENNAN ROAD, SHENZHEN BRANCH HONG KONG. SWIFT CODE: SCBLCNSXSHZ A/C #: 3854430411 BENEF: UNION RISE INDUSTRIAL (HK) LTD Once payment is made, do forward the payment receipt to this office via fax number: + 44 703 040 0224 for our necessary attention. We solicit your cooperation to enable us serve you timely without hindrance or obstruction to duties.

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