BICO INDUSTRIES Ltd.

Holdenstrasse 118, 3000 Bern 22, Switzerland, Tel.: Bern 30172

Mr. L. Franksen 23 May 2011

L. Franksen PLC Prince of Wales Road Sheffield S9 4EX UNITED KINGDOM

Bill № BE 7714 Dear Mr. Franksen,

I was sorry to learn about the embargo your country has placed on exports to Zurimba

and of the problems this has created. However, the above bill has already allowed

credit for 40 days, and although I appreciate your offer for an additional 16% interest

on the 4360.00 £ outstanding, it is financially impossible to allow a further 60 days

credit as I myself have commitments.

I think the following solution might help us both.

You need not add interest on the present amount, but I have enclosed a new draft

(BE 7731) for 2180.00 £ which is half the outstanding balance, and will allow you

40 days to pay it. But I expect you to pay the remainder viz, 2180.00 £ by banker's

draft. Please confirm your acceptance by signing the enclosed bill and returning it

to me with your draft by return of post.

I wish you luck with your negotiations with the Brazilian importers and hope that

this setback will soon be resolved.

Yours sincerely

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