DEPARTMENT OF PETROLEUM RESOURCES PLOT 225 KOFO ABAYOMI STREET VICTORIA ISLAND,LAGOS, NIGERIA. DIRECT FAX: 234 1 759 0904. TEL; 234 1- 7591519 ATTENTION: THE PRESIDENT/C.E.O RE: URGENT & CONFIDENTIAL BUSINESS PROPOSAL Dear Sir, I am MR BRUNO OJIE member committee of the above department Terms of Reference My term of reference involves the award of contracts to multinational companies. My office is saddled with the responsibility of contract award, screening, categorization and prioritization of projects embarked upon by Department of Petroleum Resources (DPR) as well as feasibility studies for selected projects and supervising the project consultants involved. A breakdown of the fiscal expenditure by this office as at the end of last fiscal quarter of 2000 indicates that DPR paid out a whooping sum of US$736M(Seven Hundred And Thirty Six Million, United States Dollars) to successful contract beneficiaries. The DPR is now compiling beneficiaries to be paid for the third Quarter of 2002. The crux of this letter is that the finance/contract department of the DPR deliberately over �invoiced the contract value of the various contracts awarded. In the course of disbursements, this department has been able to accumulate the sum of US$38.2M(Thirty-eight Million, two hundred Thousand U.S Dollars) as the over-invoiced sum. This money is currently in a suspense account of the DPR account with the Debt Reconciliation Committee (DRC). We now seek to process the transfer of this fund officially as contract payment to you as a foreign contractor, who will be fronting for us as the beneficiary of the fund. In this way we can facilitate these funds into your nominated account for possible investment abroad. We are not allowed as a matter of government policy to operate any foreign account to transfer this fund into. However, for your involvement in assisting us with this transfer into your nominated account we have evolved a sharing formula as follows: (1) 20% for you as the foreign partner (2) 75% for I and my colleagues (3) 5% will be set aside to defray all incidental expenses both Locally and Internationally during the course of this transaction. We shall be relying on your advice as regard investment of our share in any business in your country. Be informed that this business is genuine and 100% safe considering the high-power government officials involved. Send your private fax/telephone numbers. Upon your response we shall provide you with further information on the procedures. Feel free to send response by Fax: 234-1-7590904 / TEL: 234-1-7591519 expecting your response urgently. All enquiries should be directed to the undersigned by FAX OR PHONE. Looking forward to a good business relationship with you. Sincerely, MR BRUNO OJIE