To

Alex Gordon

Manager (Finance Department)

PLM Steel Company Limited

78, Industrial Towers, Northern London

UK

25^TH July 2012

Sub – Loan approval letter.

Dear Mr. Alex

I am feeling very happy to inform you that the loan application number 3454 dated 10^th July 2012 from your company has being approved by the management of our bank. I would like to inform you that our bank has granted a loan of $ 500000 for the upcoming new production unit of your plant. The loan carries an interest of ten% per annum and it is to be serviced every month once the project is completed. The payback period for the entire loan amount is 15 years together with all the accumulated interests. I am enclosing a copy of the approval letter which contains all the important details of the loan. The entire loan amount will be disbursed in five equal installments based upon the completion certificate submitted by a certified civil engineer.

Hope that you will be satisfied with our quick service in disbursal of the loan amount. I will look forward for a long standing professional relationship with your esteemed organization.

Thanking you

Graeme Kushner

Branch Manager

Horse Bank Private Limited