We offer;
WHITE RAFINED CANE SUGAR Icumsu 45 RBU

Dear Sugar BUYERS,

We are legal representative of I.U.T.C for Turkey and Middle East Countries. I.U.T.C is a German based company and has made some agreements with 8 sugar refinery in Brazil. So we have 3 million sales capacity during 2 years period. We offer you %2 PB via UBS bank/Zurich-Switzerland which is one of the most reliable bank in the world. The prices as mentioned below are valid until the date of 21 February, 2005 and the prices change daily regarding London Stock Exchange. We would like to get in touch with real sugar buyer and buyer`s mandate so that we are ready to supply white refined cane sugar Icumsa 45.

We would like to warn you that there are a lot of fake sellers in the market which give unreal low prices. Most of the serious sugar buyers sign contracts with these fake sellers and open LCs because of low prices. But unfortunately after the signed LC , fake seller do not make the shipment. This kind of fake sellers which are not real sellers could not offer PB via a reliable bank. They have some different benefits. Before evaluating the prices , please check the reports of ICC and go on to your business with the real buyers that give real prices.

We guarantee you that we are real supplier and the contract that was prepared by us include equal conditions and rights for both sides.

You could find detailed information about our offer as below. When you would like to make a purchase order we are ready to give you our official offer regarding the daily prices. Please send us LOI with full bank details as specified below. When the buyer`s bank confirmed the purchasing capability of the buyer we would send to you FCO and Draft Contract.

Product: White Refined Sugar Cane Icumsu 45
Minimum Quantity/Shipment: 12.500 Tons
Origin: Brazil
Price: USD 198/Per Mtons CIF any middle east port.
Payment: Confirmed, Irrevocable, Transferable (Non-Transferable), (divisible), (Automatically revolving) L/C 100 % payable at sight from a prime bank.
PB: 2 % from seller ( UBS bank - Switzerland)
Delivery Time: in maximum 45 days.

Prices: ( The prices are valid until 21February 2005)

For 12.500 MT USD 198/MT CIF any middle east port

For 50.000 MT USD 190/MT CIF

For 150.000 MT USD 186/MT CIF

For 1 million MT USD 158/MT CIF

For 2 million MT USD 147/MT CIF

Procedures:
1- Buyer issues LOI (with full bank coordinates)
2. Buyer receives the contract adjusted to his needs,

signs & seals and returns it together with a copy of

buyer’s company registration certificate & copy of the

passport of the authorised to sign on behalf of the buyer.
3. Seller returns the contract by exchanging it by

facsimile or email attachment, duly signed and sealed.

The draft copy will be deemed legal until hard copies

exchanged. This will not delay the buyer in issuing the

letter of credit.
4. Within 3 banking days buyer’s bank advice POF to

seller’s bank.
5. Within 10 banking days seller’s bank advice POP to

buyer’s bank.
6. Within 3 banking days from date of being adviced the

POP, the buyer will issue to seller’s bank the non-operative

letter of credit.
7. Within 10 banking days of receiving the non-operative

letter of credit the seller’s bank will post 2% operative

performance bond guarantee which will activate the

buyer’s letter of credit.
8. Hard copies of the contract are exchanged.

LETTER OF INTENT
(with letterhead of buyer)

Date : ..../... / 2005

LOI Reference No :

We (...Company Name….) hereby declare that we are ready, willing and able under the act of perjury to purchase the following commodity as specified below and certify

that we have available full funding for the purchase :

NAME OF THE PRODUCT : White Refined Sugar Cane Icumsu 45

FULL SPECIFICATIONS OF THE SUBJECT PRODUCT :

Commodity: White Refined Cane Sugar

Country Origin: Brazil

Polarization: 99.80 % min

Ash Content: 0.04 maximum

Icumsa: 45 RBU

Solubility: 100 % Dry amd free flowing

Colour: Sparkling white

Radiation: Normal certified

Granulation: Fine crystal

Moisture: 0.04 % maximum

Magnetic particles: 4 mg/k

SO2: 20 mg/k

Sedimente: None

Odour: Free of any smell

Reducing Sugar: 0.05 maximum by weight

Substance: Solid crystal

Quantity : 12.5000 tons (minimum shipment: 12.500 tons).

Destination Port SWP as per attached shipping Schedule:

Contract Duration : ....... months.

PB: 2 % from seller.

Rate / Size of Shipment : 12.500 tons

Packing : 50 kg - NNP or Bulk

Rate of Discharge at Destination : 2500 tons per day.

Target Price : ....... US$ / MT CIF any middle east port

Terms of Payment : Confirmed, Irrevocable, Transferable, divisible, Automatically revolving L/C 100 % payable at sight from a prime bank.

Full Name of the Bank :

Full Address of the Bank :

Bank Telephone No :

Bank Fax No :

Bank Account No :

Bank SWIFT / Sort Code No :

We give you our permission to seek usual Bank reference.

Full Name of the Company :

Full Name of Signatory :

Position of Signatory :

Yours truly

Signed :

Signed for and on behalf of

Company rubber stamp :

Best regards,

Ali Ulusan

Woft International Trading Company.

( I.U.T.C Turkey and Middle East Region Representation-C.Yasar)

1475 Sokak No: 1 Mesta Ishani D: 710 Alsancak Izmir 35220 Turkey

Tel: + 90 532 420 20 65

Fax: + 90 232 464 13 88

E-mail: ulusanali@superonline.com