Letter of Intent for acquisition

Letter of Intent

 

This Letter of Intent made and entered into as of the 1^st day of August,  2001 by MOOL Investment, a corporation duly organized and existing under the laws of Republic of Korea, having its principal office and place of business at Kyunggi-Do, Korea (hereinafter referred to as MOOL).

 

WITNESSETH THAT

 

WHEREAS, MOOL has long been engaged in the industrial investment as investment bank in Korea; and

 

WHEREAS, MOOL has acquired and possesses valuable information on the industrial investment and Korea financial systems; and

 

WHEREAS, MOOL has the interest in acquiring all of the outstanding capital stock of Hankuk , having its principal office and place of business at  Kyungsangbuk-Do, Korea (hereinafter referred to as HANKUK) which Abali Co.,Ltd (hereinafter referred to as Abali) have hold and hopes to invest in them;

 

NOW, THEREFORE, in consideration of the mutual premises and covenants hereinafter, the MOOL proposes as follows;

 

1.      Abali and MOOL shall make Confidential Agreement for acquisition of HANKUK

2.      Parties shall cooperate to make acquisition Task Force Team, decide contact points and arrange the meeting schedule. All of the process would be set up through this meeting.

3.      Parties shall do their best effort to complete negotiation for the acquisition.

4.     The contact point of MOOL is as follows

A.      Name:

B.      Title: Manager

C.      Telephone number:

D.      Fax machine:

E.      e-mail:

5.      This LOI shall continue in full force and effect for one(1) month commencing on the date of this LOI.

 

IN WITNESS WHEREOF, MOOL herein have caused this LOI to be executed by its respective officer as the date first written above.

 

 

 

MOOL investment Co., LTD

 

By __________________________

Name:

Title:

Address: Seongnam, Kyunggi-Do, Korea