CHINA TRANSWORLD SHIPPING CORPORATION

    3333 Binhai Street，Liaoning，China Tel：（0411）5000000 Fax：（0411）5000001

    Zip code：116001

    September 13，2003

    Mr.Jason Goodman

    Senior Shipping Clerk

    Northgranary Cereals，Inc.

    616 Taiyangdao Street

    Harbin 116001

    Dear Mr.Goodman：

    Thank you for your fax of September 11.We are pleased to inform you that we have been able to secure the vessel you asked for.

    She is the SS Bohai and is docked at present in Lianyungang.She has a cargo capacity of eight thousand tons，is a bulk carrier，and has a speed of 24 knots which will certainly be able to make the number of trips you mentioned.

    Please fax us to confirm the charter and we will send you the charter party.

    Yours sincerely，

    Liu Hanchen

    Charter Department