====                       ,

   TAX: J/V PRETSENDENTBIZNESS

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

   

   TO: EAST - WEST LUXEMBOURG

   

   FROM: BANK

   

   

   DATE: OCTOBER 04.10.96

   

   TEST:

   

   DATE OF ISSUANCE: 04.10.96

   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 26.12.1996 LUXEMBOURG

   CREDIT APPLICANT: J/V PRETSENDBIZNESS"

   BENEFICIARY: FIRM "JANSEN KUILENBURG B. V WESTEKADE 31,3016 CM

   ROTTERDAM, NETHERLAND.

   AMOUNT: DEM 61100

   AVAILABLE WITH YOU              BY PAYMENT

   PARTIAL SHIPMENTS NOT ALLOWED

   TRANSHIPMENT NOT ALLOWED

   DISPATCH FROM PORT SOUTH OF FRANCE DESTINATION: ROSSIA

   GOODS: CONTRACT WITHOUT NUMBER DD       20__CARS CIF

   SANKT-PETERBOURG

   DOCUMENTS: 1.    B/L,    INSURENCE    POLICE,    INVOISE-MANUFACTURER,

   SPECIFICATION, FULL  SET  OF CLEAN ON BOARD BILLS OF LADING, ISSUED IN

   THE BUYER'S

   NAME

   DATE OF FIRST SHIPMENT:

   FURTHER CONDITIONS:  ALL  BANKING  AND  TRANSPORT   CHARGES   IN   THE

   COUNTRY-BUYER-ARE FOR THE BUYER'S ACCNT, IN THE COUNTRY-SELLER-ARE FOR

   THE SELLER'S ACCNT.

   PRESENTATION PERIOD: DOCUMENTS TO BE PRESENTED WITHIN 7 DAYS AFTER THE

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

   THE CREDIT

   PLEASE NOTIFY BENEFICIARY WITHOUT ADDING YOUR CONFIRMATION

   REIMBURSEMENT: PAYMENT  SHOULD  BE  EFFECTED  BY  YOU  UPON RECEIPT OF

   TELEGRAPHIC REMITTANCE FROM BANK AGAINST TESTED

   CABLE YOUR BANK CONFIRMING THAT THE DOCUMENTS PRESENTED BY BENEFICIARY

   IN FULL CONFORMITY WITH CREDIT CONDITIONS  AND  SENT  TO  OUR  ADDRESS

   WITHOUT INTEREST FOR US.

   OUR REF: