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IN CASE OF ANY DIFFICULTIES WITH THIS TRANSMISSION, PLEASE CON-
TACT US BY PHONE AT (809) 462-6701

Following are two Irrevocable Payment Guarantees we have been requested to issue by two separate customers.

We require your confirmation as indicated on the payment guarantee and would appreciare you advising us the terms and conditions of such confirmation.

We look forward to hearing from you by return fax.

Best regards,

bill

K.W. Cooper
President

Tom/

This was

by LeRoy Herfortunately this type of tremation a not plone at BING.

10 Redcliffe Quay. Box 1673. St. John's, Antigua. W.I.

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PLEASE ADVISE BENEFICIARY THAT WE, AMERICAN INTERNATIONAL BANK LTD. HEREBY ISSUE THIS IRREVOCABLE PAYMENT GUARANTEE, TO BE CONFIRMED BY BANK OF AMERICA AT OUR COST AND OUR RESPONSIBILITY TO PAY TO ARVC THE AMOUNT OF FIVE HUNDRED FORTY THOUSAND U.S. DOLLARS (US $540,000) UPON RECEIPT AND VERIFICATION BY US OF A PAYMENT TO OUR ACCOUNT #52014 WITH BANK OF AMERICA IN THE PRINCIPAL AMOUNT OF THREE MILLION SIX HUNDRED THOUSAND U.S. DOLLARS (US $3,600,000).

THIS IRREVOCABLE PAYMENT GUARANTEE IS AVAILABLE BY DRAFTS DRAWN ON BANK OF AMERICA AT SIGHT.

WE UNDERTAKE AND AGREE THAT DRAFTS DRAWN UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS GUARANTEE WILL BE HONORED UPON PRESENTATION OF THE FOLLOWING DOCUMENTS AT OUR COUNTERS ON OR BEFORE THE EXPIRY DATE.

1. YOUR DRAFT DRAWN ON BANK OF AMERICA AT SIGHT.

2. THE ORIGINAL OF THIS INSTRUMENT.

REIMBURSEMENT INSTRUCTIONS: REIMBURSEMENT WILL BE EFFECTED BY FEDWIRE ON THE FOLLOWING BUSINESS DAY CREDITING YOUR ACCOUNT UPON RECEIPT BY COURIER MAIL TO AMERICAN INTERNATIONAL BANK LTD. OF THE FOLLOWING DOCUMENTS: THE ORIGINAL PAYMENT GUARANTEE, AND A COPY OF THE DRAFT DRAWN ON BANK OF AMERICA BY BENEFICIARY.

1

10 Redcliffe Quay, Bax 1673. St. John's. Antigua. W.I.

1900 189-6701 /462-3243 Fax: (809) 462-8675 Telex: 2051 AMEBANK

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PLEASE ADVISE BENEFICIARY THAT WE, AMERICAN INTERNATIONAL BANK LTD. HEREBY ISSUE THIS IRREVOCABLE PAYMENT GUARANTEE, TO BE CONFIRMED BY BANK OF AMBRICA AT OUR COST AND OUR RESPONSIBILITY TO PAY TO BOND STREET COMMERCIAL CORP. THE AMOUNT OF ONE MILLION U.S. DOLLARS (US $1,000,000) UPON RECEIPT AND VERIFICATION BY US OF A PAYMENT TO OUR ACCOUNT #52014 WITH BANK OF AMERICA IN THE PRINCIPAL AMOUNT OF TWELVE MILLION U.S. DOLLARS (US $12,000,000).

THIS IRREVOCABLE PAYMENT GUARANTEE IS AVAILABLE BY DRAFTS DRAWN ON BANK OF AMERICA AT SIGHT.

WE UNDERTAKE AND AGREE THAT DRAFTS DRAWN UNDER AND IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS GUARANTEE WILL BE HONORED UPON PRESENTATION OF THE FOLLOWING DOCUMENTS AT OUR COUNTERS ON OR BEFORE THE EXPIRY DATE.

1.

YOUR DRAFT DRAWN ON BANK OF AMERICA AT SIGHT.

2. THE ORIGINAL OF THIS INSTRUMENT.

REIMBURSEMENT INSTRUCTIONS: REIMBURSEMENT WILL BE EFFECTED BY FEDWIRE ON THE FOLLOWING BUSINESS DAY CREDITING YOUR ACCOUNT UPON RECEIPT BY COURIER MAIL TO AMERICAN INTERNATIONAL BANK LTD. OF THE FOLLOWING DOCUMENTS: THE ORIGINAL PAYMENT GUARANTEE, AND A COPY OF THE DRAFT DRAWN ON BANK OF AMERICA BY BENEFICIARY.

10 Redcliffe Quay. Box 1673. St. John's, Antigua. W.I.

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IN CASE OF ANY DIFFICULTIES WITH THIS TRANSMISSION, PLEASE CON-
TACT US BY PHONE AT (809) 462-6701

After a discussion with Bank of America yesterday, it will be necessary to proceed as follows:

"AEVC purchases a 1-year $3.6 Million Euro Dollar CD / Yankee CD from BA Securities Inc., a Bank of America wholly owned securities company in Atlanta, at 5% p. a. Bank of American New York or Miami lends to American International Bank (AIB) at 51/28 p.a. for the same amount and same term using the CD as security. The 1/2 cost is for the account of Peninsula Books International Ltd. (PBI). AIB credits the proceeds of the loan to PBI's account with AIB and proceeds to make payments for PBI".

Please advise if this is acceptable to Robert Newman of AEVC.

Best regards,

WW Coor

William W. Cooper
President

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THE FORMAT AND TEXT OF THIS LETTER OF CREDIT HAS BEEN REVIEWED
AND ACCEPTED

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THE FORMAT OF THIS PAYMENT GUARANTEE IS ACCEPTABLE TO AEVC BUT
IS SUBJECT TO REVIEW AND APPROVAL OF BOTH THE OPENING AND ISSUING
BANK AND THE CONFIRMING AND ADVISING BANK. ANY MODIFICATIONS OR
AMENDMENTS REQUESTED BY EITHER THE ISSUING OR CONFIRMING BANK
MUST BE SUBMITTED DIRECTLY TO THE AEVC BY THE REQUESTING BANK
AND APPROVED PRIOR TO ADVICE OF THE CREDIT TO AEVC.

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EXPIRY DATE:

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жау 3, 1994

(90-DAYS AFTER DATE OF ISSUANCE) June 3, 1994

Americas Istraction notif
PLEASE ADVICE BENEFICIARY THAT WE, RBI's FIDUCIARY BANI HEREBY,
ISSUE THIS IRREVOCABLE PAYMENT GUARANTEE. TO BE CONFIRMED BY Jolis
CONFIRMING BANK, AT OUR COST AND OUR RESPONSIBILITY PAY TO AEVC.
THE AMOUNT OF FIVE HUNDRED FORTY THOUSAND U.S. DOLLARS ($540,000),
UPON RECEIPT AND VERIFICATION BY US OF CERTIFICATION OF DEPOSED IF
THE PRINCIPAL AMOUNT OF THREE MILLION SIX HUNDRED THOUSAND US
DOLLARS ($3,800,000).

recupt by BA Jocuri

Atlaster of

THIS IRREVOCABLE PAYMENT GUARANTEE IS AVAILABLE BY DRAFTS DRAWN
ON CONFIRMING BANIQ AT SIGHT.

of mineral structional, N. J.

WE UNDERTAKE AND AGREE THAT DRAFTS DRAWN UNDER AND IN
ACCORDANCE WITH THE TERMS AND CONDITIONS OF THIS GUARANTEE WILL
OP HALDEN HIPON PRESENTATION OF THE FOLLOWING DOCUMENTS AT OUR

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