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   TAX: V/O "SOJUZREGION"

   -----------------------

   

   TO: CHASE MANHATTAN BANK NEW YORK

   

   FROM: BANK

         MOSCOW

   

   DATE: JULY 29, 1996

   

   TEST:

   

   

   DATE OF ISSUANCE: 27.07.96

   WE ISSUE IRREVOCABLE CREDIT NO.

   SUBJECT TO UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS ( 1998

   REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500

   EXPIRING ON 3 NOVEMBER 1996 MOSCOW

   CREDIT APPLICANT: V/O "SOJUZREGION"

   BENEFICIARY: ICD MERCHANDISE CORPORATION 600 MADISON AVENUE NEW YORK

   N. Y.

   AMOUNT: USD

   AVAILABLE WITH         BANK     MOSCOW BY PAYMENT

   PARTIAL SHIPMENTS NOT ALLOWED

   TRANSHIPMENT NOT ALLOWED

   DISPATCH FROM NEW YORK       DESTINATION: ROSSIA/ST.PETERBOURG

   GOODS: SPARE PARTS FOR XEROX COPIER MODEL 1045 AS PER ADD. NO. 1. TO

   CONTRACT NO.       DD 09.07.96 CIF ST.PETERBOURG

   DOCUMENTS: 1. SPECIFIED INVOICE - 1 ORIGINAL AND 2 COPIES

   2. FULL  SET  CLEAN  ON BOARD BILL OF  LADING  ISSUED  IN  THE NAME OF

   V/O "SOJUZREGION"

   3. SHIPPING SPECIFICATION - 3

   4. CERTIFICATE OF QUALITY ISSUED BY THE SELLER - 1 COPY

   5. PACKING LIST - 3 COPIES

   6. INSURENCE POLICY - 1 EX

   FURTHER CONDITIONS: ALL BANKING CHARGES ARE FOR THE SELLERS ACCNT

   CONSIGNEE: KEMEROVSKAYA BAZA UMTS, KEMEROVO, PROSP. SHAHTEROV, 51A

   DATE OF FIRST SHIPPMENT:  NOT LATER THAN 3 SEPTEMBER 1996.  ADDITIONAL

   SHIPMENT IS ALLOWED.

   PRESINTATION PERIOD:  DOCUMENTS TO BE PRESENTED WITHIN 21  DAYS  AFTER

   THE DATE OF ISSUANCE OF THE SHIPPING DOCUMENTS BUT WITHIN THE VALIDITY

   OF THE CREDIT

   PLEASE NOTIFY  BENEFICIARY  WITHOUT  ADDING  YOUR CONFIRMATION USD 500

   COST OUR CABLE WILL BE DEDUCTED FRPM PAYMENT.

   REIMBURSEMENT: AS WHEN PAID PLEASE DEBIT OUR ACCOUNT

   

   OUR REF: