EFTA01237971.pdf

3705 Bank of America Tower Atlantis Financial Suite 221 12 Harcourt Road Central Hong Kong Tel: +852 3006 4315 Fax: +852 3006 4316 Email: thomas.sal ford(Matlantis-financial.com Web: www.atlaiiiis-financial.com Letter of Intent — ref: NA-TS-416 Wednesday 15th September 2010 Client # 53150 Nikolai Alfsen Dear Nikolai, Following our earlier discussion today I would like to outline some key points. Due to a counter offer on the GTSL exit project all corporate blocks i.e. 100,000 shares have an adjusted value calculated at 61,300,000. As you are aware the buyer's bank requested a 5% assurance bond prior to the completion of the exit procedure. This requirement has been secured on the previous exit value at 632,500 as allocated on the 26th July 2010. The buyer has matched the counter offer and GTSL have agreed not to consider any further offers for a period of 10 days this agreement was initiated yesterday giving a deadline of the 24th September 2010. Taking into account the new exit value the 5% bond requirement has a costing of 665,000. With the previous bond secured an adjustment of 2.5% is required to enable an exit at the new value. This would require a bond adjustment requirement of632,500 with no commission attached. EFTA01237971