Re: RE : Confidentiel

Dear Jeffrey,

You will receive today a detailed summary of the meeting that took place on Tuesday 13th February 2007.

The main points are as follows:

1)      It was agreed to sign a first commitment to purchase on 15^th March 2007. You will make a deposit (escrow) to Mr. Chardon of 10 % of the agreed price, which is a usual practice. Juan Pablo Molyneux will sign the commitment agreement on behalf of the Danish company, which necessitates that we finalize the setting-up of the Danish company and the various agreements with Juan Pablo Molyneux before 15^th March 2007.

2)      The final sale will take place two months later, i. e. on 15^th May 2007 for a price of 10.5 million euros. All the contingencies that we have talked about have been resolved (see Mr. Chardon’s message which you will receive today).

3)      It now becomes clear that the sellers have another proposal and that they are anxious to proceed with the transaction. Since the sellers are rather nervous because they consider that the whole matter has dragged on during the last past months, I suggest that you send us urgently the following letter, the content of which will be communicated to the sellers.

“Dear Sir,

I confirm my intent to make a deposit of 10 % of the purchase price of 10.5 million euros (i.e., a deposit in the amount of 1.05 million euros) to Mr. Chardon’s bank account on 15^th March 2007, as a guarantee for the finalization of the sale, which shall take place on 15^th May 2007. I am aware that in case I do not proceed with the purchase on 15^th May 2007 (subject to the conditions and contingencies provided for in the 15^th March 2007 commitment agreement), the 10 % deposit will be paid to the sellers”.

On the other hand, to address the sellers’ nervousness, we might envisage advancing the 15^th March date for the commitment agreement and deposit.

Kind regards.

Matthieu de BOISSÉSON                              Alain MAILLOT