IRREVOCABLE DOCUMENTARY CREDIT APPLICATION

TO:

BANK OF CHINA JIANGSU BRANCH

Date:

2002/03/21

□Issue by airmail  □With brief advice by teletransmission

Credit No.

□Issue by express delivery

þIssue by teletransmission (which shall be the operative instrument)

Date and place of expiry    APR 15, 2002 JAPAN

Applicant

Beneficiary (Full name and address)

NANJING DESUN TRADING CO., LTD.

HUARONG MANSION RM2901 NO.85 GUANJIAQIAO,

NANJING 210005, CHINA

EAST AGENT COMPANY

3-72, OHTAMACHI, NAKA-KU, YOKOHAMA, JAPAN 231

Advising Bank

Amount

THE SUMITOMO BANK, YOKOHAMA

BRANCH, 1-3-10, HAGOROMO-CHUO, NAKA-KU

YOKOHAMA, JAPAN 231-0047

JPY 1728600.00

Credit available with

Parital shipments

□allowed      þnot allowed

Transhipment

□allowed      þnot allowed

ANY BANK

By

Loading on board/dispatch/taking in charge at/from

□sight payment        □acceptance        þnegotiation

□deferred payment at

NAGOYA

not later than  MAR 31, 2002

against the documents detailed herein

For transportation to:  NANJING

þ and beneficiary's draft(s) for   100    % of invoice value

þ FOB           □C&F          □CIF

at    . . . .    sight

□ or other terms

drawn on    ISSUE BANK

Documents required: (marked with X)

1. ( X ) Signed commercial invoice in 　　6　　 copies indicating L/C No. 　　　　　　　　 and Contract No. 　DS1032E　　

2. ( X ) Full set of clean on board Bills of Lading made out to order and blank endorsed, marked "freight [ X ] to collect / [ 　 ]

prepaid [ 　 ] showing freight amount" notifying THE APPLICANT, PLUS 1 NON-NEGOTIABLE COPY.

(　) Airway bills/cargo receipt/copy of railway bills issued by                                 showing “freight [ 　 ] to collect/

[ 　 ] prepaid [ 　 ] indicating freight amount" and consigned to

3. (　) Insurance Policy/Certificate in 　　　 copies for 　　　 % of the invoice value showing claims payable in 　　　　　　　　 in

currency of the draft, blank endorsed, covering All Risks, War Risks and

4. ( X ) Packing List/Weight Memo in 　 3 　 copies indicating quantity, gross and weights of each package

5. (　) Certificate of Quantity/Weight in 　　　　 copies issued by

6. (　) Certificate of Quality in 　　　 copies issued by [ 　 ] manufacturer/[ 　 ] public recognized surveyor

7. ( X ) Certificate of Origin in 　 3 　 copies issued by  MANUFACTURER.

8. ( X ) Beneficiary's certified copy of fax / telex dispatched to the applicant within 　48　 hours after shipment advising L/C No., name

of vessel, date of shipment, name, quantity, weight and value of goods.

Other documents, if any

1.       CERTIFICATE OF QUALITY/QUANTITY IN 3 COPIES ISSUED BY MANUFACTURER.

2.       DECLARATION OF NON-CONIFEROUS WOOD PACKING MATERIAL BY BENEFICIARY.

Description of goods:

MITSUBISHI DAIYA PACKAGED AIR CONDITIONER (INDOOR UNIT) PARTS

Additional instructions:

1. ( X ) All banking charges outside the opening bank are for beneficiary's account.

2. ( X ) Documents must be presented within 　21　 days after date of issuance of the transport documents but within the validity

of this credit.

3. (　) Third party as shipper is not acceptable, Short Form/Blank B/L is not acceptable.

4. (　) Both quantity and credit amount _______ % more or less are allowed.

5. (　) All documents must be forwarded in

    ( X ) Other terms, if any

1.       ALL DOCUMENTS ARE TO BE PRESENTED TO US IN ONE LOT BY COURIER/SPEED POST. OUR ADDRESS IS BANK OF CHINA, JIANGSU BRANCH NO.148 SOUTH ZHONGSHAN ROAD NANJING 210005 JIANGSU P.R.CHINA.

2.   A DISCREPANCY FEE FOR JPY6,172 WILL BE DEDUCTED FROM THE PAYMENT FOR EACH SET OF DOCUMENTS CONTAINING DISCREPANCY(IES).