No. 1

Amount: USD 9900.00

Date: May 5th, 2003

Due Date: May 31st, 2003

Payee: Zhejiang Textile Import and Export Corporation

Drawee: Bank of China, Singapore

We, the undersigned, promise to pay to the order of Zhejiang Textile Import and Export Corporation the sum of USD 9900.00 on May 31st, 2003. This payment is made in accordance with the terms of L/C No. 12234 dated April 2nd, 2003, issued by Bank of China, Singapore, and in exchange for the presentation of the documents detailed therein and of beneficiary's drafts in duplicate at sight drawn on us. The quantity of goods is 1000KGS net, priced at USD 9.00 per kg CIF Singapore, as per invoice no. 56789.

Signed: Overseas Trade Company, Singapore.

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