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LETTER OF INTERESTAthens 5 October 2010We A. Papavassilopoulos - Technical Bureau-Athens Greece confirm on behalf of our clients that we are willing and able to purchase high energy, low ash and low sulphur Thermal and Semi hard Coking coal. The specific terms and conditions will be mutually agreed between the Buyer and the Seller as per standard specifications listed below. 1. DESTINATION India / For Power Plants & Steel Mills Supply Jorong Brand Names J-1 MCV HCV MCV PCI Coal Qualities Unit Total Moisture (AR)% 3015.5 15-20 13.5 10Inherent Moisture (AD)% 17117.4 96Ash (AD) % 45.52.85.54Volatile Matter (AD)% 42.5 40.0 42.6 39.7 41Fixed Carbon (AD)% 38.5 43.5 47.2 45.8 49Calorific Value (AD)Kcal/kg 5,3006,050-6,5005,7506,5507,200Sulphur (AD) % 0.3 0.8 1.40.8 0.6 H.G.I 474345-47 460.6 2. DESTINATION PR of China, Taiwan, Japan, Korea, India and Europe / For Power Plants & Steel Mills Supply COAL SEMI-HARD COKING COAL ANALYSISPROXIMATE ANALYSIS (adb) Typical Total Moisture (as received) 9%Inherent Moisture 1.5%Ash 9.9%Volatile Matter 33-34%Fixed Carbon 55%Total Sulphur (max) 1.05%Phosphorus 0.03%OTHER Typical Crucible Swelling No. 8.5Max. Fluidity (ddpm) 5000Calorific Value Kcal/kg (gad) 7550Hardgrove Grindability 55Reflectance Ro max 0.85Size 0 - 50mmTHERMAL COAL ANALYSIS PROXIMATE ANALYSIS (adb) Typical Total moisture (as received) 6 - 7%Inherent Moisture 1.3%Ash 19 - 24%Volatile Matter 24-32% Specific Energy Kcal/kg (gar) 5750 6300 Total Sulphur 0.8 - 2.5OTHER Typical Chlorine 0.02%Fluorine (ppm) 155Hardgrove Grindability 52 - 60Size 0 - 50mmWe are looking forward to your reply and your indicative offer. We shall expect indicative quantities and prices and your standard sales process.Thank you in advanceAngelos Papavassilopoulos