Date Issued 9 17 08 LETTER OF INTENT TO SELLER We hereby state and represent that it is our intention to purchase, and we hereby confirm that we are ready, willing and able to purchase the following commodity as per the specification and in the quantity and for the price as specified in the terms and conditions as stated below. We are purchasing the required product as an independent Buyer COMMODITY Long Grain White Rice ORIGIN Asia OR any country SPECIFICATION 100 percent broken may be fragrant rice QUANTITY 100, 000 MT CONTRACT LENGTH 6 to12 months LOADING PORT any DESTINATION PORT ASWP (any safe world port) TARGET PRICE USD 520 per MT SHIPPING TERMS CIF- ASWP DELIVERY TIME 2 to 3 weeks INSPECTION Quality, Quantity Weight by SGS at seller& cost at loading port. PAYMENT Irrevocable, Revolving, Transferable Confirmed LC at sight 100 percent in USD PBG 2 percent to be submitted by seller