Breached Contracts

Contract Number: 1085003454 issued on May 19, 2004, 5:50 pm and became overdue for payment on May 24,2004

Company Name: RC Recycle Metals Enterprise
Address: 229B Jalan Permai 1A/2,
Taman Desa Permai, 09600 Lunas
City: Kedah Darul Aman, Malaysia
Contact: Mr. Ramachandran Muniandy
Telephone: 60 4 4846105
Fax: 60 4 4846105

Shipping to China Yong Lien Steel Co. located in Zhang Jia Gang, China

Client ordered 60000 MTW of our material code 200-206 for 12 months at a price of $ 143.00 USD to be unloaded in Zhang Jia Gang port
Client currently owes $ 102,960,000 USD from May 24,2004 which is a full breech of contract on the initial amount of $ 8,580,000 due on May 24,2004
Client has not made any attempt to settle this debt nor to make any payment thereon and is assumed to be financially insolvent.
Client has made the following comments related to this posting: