FROM THE OFFICE OF MR CHARLES IBRU NIGERIAN NATIONAL PETROLEUM CORPORATION FALOMO OFFICE COMPLEX, IKOYI, LAGOS. FROM THE OFFICE OF MR CHARLES IBRU DIRECT TEL/FAX: +234 90 504665 Dear Sir, BUSSINESS PROPOSAL: TRANSFER OF US$21.5 (TWENTY ONE MILLION, FIVE HUNDRED THOUSAND UNITED STATES DOLLARS) & BUSINESS INVESTMENT PARTNERSHIP. First I must solicit your strictest confidence in this transaction; this is by virtue of its nature as being utterly confidential and top secret as you were introduced to us in confidence through the Nigerian Chamber of Commerce, Foreign Trade Division. We are top officials from the Nigerian National Petroleum Corporation (NNPC), Federal Ministry of Finance and the Presidency, making up the contract Review Panel (CRP) set up by the Federal Government of Nigeria to review contracts awarded by the military administration. In the course of our work on the CRP, we discovered this fund which resulted from grossly over-invoiced contracts which were executed for the NNPC during the last administration. The companies that executed the contracts have been duely paid and the contracts commissioned leaving the sum of US$21.5 million floating in the escrow account of the Central Bank of Nigeria ready for payment. I have therefore been mandated as a matter of trust by my colleagues in the panel to look for an overseas partner to whom we could transfer the sum of US$21.5 million legally subcontracting the entitlement to your company. This is bearing in mind that our civil service code of conduct forbids us from owning foreign company or running foreign account while in government service, hence the need for an oversea partner. We have agreed that the funds will be shared after it has been paid into your account: * 1. 30% of the money will go to you for acting as the beneficiary of the fund. * 2. 10% has been set aside as an abstract projection for reimbursement to both parties for incidental expenses that may be incurred in the course of the transaction. * 3. 60% to us the government officials (with which we wish to commence an importation business in conjunction with you) * 4. All logistics are in place and all modalities worked out for the smooth conclusion of the transaction within ten to fourteen days of commencement after receipt of the following information: Your company name, address, companys details and activities, telephone and fax numbers. These information will enable us make applications and lodge claims to the concerned ministries and agencies in favour of your company and it is pertinent to state here that this transaction in entirely based on trust as the solar bank draft or certified cheque drawable in any of the Central Bank of Nigeria correspondent bankers around the world is going to be made in your name. Please acknowledge the receipt of this letter using my private Tel/Fax: 234 90 504665 or my e-mail address centtral@yahoo.com Yours faithfully, MR CHARLES IBRU NB: Bank Account details not necessary as preferred mode of payment is by draft or cheque.