Dear Mr. King:

In confirmation of our telephone inquiry yesterday, we have enclosedan application for a forward exchange contract, which you agreed toenter into at the buying rate of $500 for a sight draft on Londonduring October.

For your information, this application is for Sales Note No. 8835,which has been covered by Irrevocable L/C No. 120 issued by the OrientBank, Los Angeles, in our favor for U.S.$27,100 with an expirationdate of November 15.

Please give your contract note plus one copy of our application to thebearer of this letter.

Sincerely,

Ä£¾ÖÇÏ´Â King¾¾

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