Sell Sugar ICUMSA 45

SOFT OFFERWe, SAI SAI EXPORTS, herein the Sellers mandate, confirm that we are ready, willing and able to sell Prilled Urea N46% on the following terms and conditions: Commodity: Sugar ICUMSA 45>SPECIFICATION: >ICUMSA: 45 R. B. U>POLARIZATION: 99. 80% MIN>ASH CONTENT: 0. 04% MAX>MOISTURE: 0. 04% MAX>COLOR: SPARKLING WHITE>GRANULATION: FINE>RADIATION: NORMAL CERTIFIED>SEDIMENTS: NONE>SMELL: FREE OF ANY SMELL>PACKING: 50 KG BAGS>CROP: 2004 2005Origin: BrazilQuantity: 1 million / mtShipments: 25, 000 / mt or 50, 000 / mtPrice: US $195 pmt SBLC / BGPayment: Irrevocable, Transferable, Confirned, Fully Funded Revolving Standby Letter of Credit issued, FROM top world prime bank in favour of the Seller, Performance Bond: 2. 0% (Two Percent) of the value of the Irrevocable, Fully Funded Revolving Letter of CreditInitial Shipment: Within 30 / 45 days after the financial instrument is in place at Sellers bankPacking: In 50 KG Bags (2% extra bags are free) Inspection: By SGS or equivalent at port of loading at Sellers costProcedure: 1. Seller issues the full corporate offer (FCO this document) . 2. Buyer signs and seals the FCO, and issues an Irrevocable Corporate Purchase Order (ICPO) and Bank Capability Letter (BCL) , 3. Seller issues the draft Agreement to Buyer for his approval. 4. Buyer signs, stamps and seals the Agreement and returns it to Seller5. Within 10 international banking days of Buyer and Seller signing the Agreement, Buyers bank issues preadvicein favour of the Seller fully funded Standby Revolving Letter of Credit6. Within 10 international banking days from the receipt of the Buyers bank Revolving Letter of Credit, the Sellers bank will issue the 2% Performance Bond to activate the SBLC7. The initial shipment of 25, 000 / mt product loads within 30 / 45 days8. Payment will be released to the Seller upon negotiation of shipping documents at the Sellers bank. Best Regards, L P BALAJI osrSAI SAI EXPORTSA1 / 90 Safdarjung EnclaveNew Delhi 110029IndiaPhone: ( + 91) (11) 46 02 3676Mobile: ( + 91) 99 109 10666, 92 107 66632

SOFT OFFER
We, SAI SAI EXPORTS, herein the Sellers mandate, confirm that we are ready, willing and