Eastern Bank

　　Date: 14 April, 2002

　　TO: Bank of China, Tianjin

　　We hereby open our ①revocable Letter of Credit No.LC5123 in favour of Tianjin Textiles Corporation for account of Vancouver Trading Company up to an aggregate amount of ②HK $16,000.00(Say HK Dollars Sixteen Thousand Only) CIF Vancouver for 100% of the invoice value relative to the shipment of: ③8 000 pieces of Art. No. 81000 printed Shirting 30×36 72×69 35/6×42 yards as per Contract NO.1098 dated April 9, 2002.

　　Shipment from China port to Vancouver. Drafts to be drawn at sight on our bank and accompanied by the following documents, marked“×”

　　(×) Bill of Lading in triplicate made out to our order quoting L/C No. 5123, marked FREIGHT PAID.

　　(×) Signed Commercial Invoice in triplicate.

　　……

　　(×) One original Marine Insurance Policy or Certificate for 110% full invoice value covering All Risks and War Risk, and TPND with ④

　　claims shipments are allowed.

　　⑤Transshipment is prohibited.

　　Shipment must be effected not later than July 31, 2002.

　　Draft (s) drawn under their credit must be negotiated in China on or before August 15, 2002.