Attachment 1

Report Update On	29^th December, 2001
Report on	ADMIRAL FINE CHINA

Attachment 2

SUMMARY

Incorporated		Status	No Trace
Registration No.		Chief Executive
Capital (GB£)		Payments
Sales (GB£)		Litigation	--
Net Worth (GB£)		Banking Reputation
No. of Employees		Auditors
Credit Rating	C – No Trace (See attachment 3)

Credit Risk Assessment

The Monthly Credit Recommended is GBP 0

ADMIRAL FINE CHINA

17 BREIDDEN WAY

BAYSTON HILL

SHREWSBURY

SY3 0LL

Our current independent investigations combined with our searches at Official registries enable us to provide the following data

SUBJECT	ADMIRAL FINE CHINA
ADDRESS	17 BREIDDEN WAY BAYSTON HILL SHREWSBURY SY3 0LL
TELEPHONE NUMBER	NO TRACE

WE HAVE BEEN UNABLE TO CONFIRM ANY INFORMATION ON THE SUBJECT AS THE RE IS NO TELEPHONE NUMBER LISTED FOR THE SUBJECT IN THE UK.

A LETTER OF ENQUIRY HAS BEEN SENT AND IF A REPLY IS FORTHCOMING THIS REPORT WILL BE SUPPLEMENTED.

THERE ARE NO C.C.J.'S LISTED AGAINST THE SUBJACT AT THE ABOVE ADDRES S.

LOCAL SOURCES HAVE BEEN UNABLE TO CONFIRM ANY FURTHER INFORMATION.

WE REGRET THAT WE ARE UNABLE TO CONTINUE WITH THIS ENQUIRY.

Attachment 3

SCORE SHEET

SCORE	CREDIT RATING	STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
71-85	Aa	Possesses adequate working capital. No caution needed for credit transaction. It has above average (strong) capability for payment of interest and principal sums	Large
56-70	A	Financial & operational base are regarded healthy. General unfavourable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums	Fairly Large
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments. Maybe drawn to slightly difficult position as unfavourable conditions arise. Minimal assurance for timely payment on interest and principal sums	Moderate
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively limited or considered not known. Capability to pay both interest and principal sums is doubtful	Small
11-25	Ca	Adverse factors are apparent. Repayment of interest and principal sums in default or expected to be in default upon maturity	Limited with full security
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Attachment 4

ACKNOWLEDGEMENT

Dear Sir/Madam,

As part of our control system, please fax/email us this note upon receipt of this report. If we do not receive the acknowledgement within 24 hours, we will assume that our report meets your requirement. If you have any suggestion to help us improve our reports and services, please do not hesitate to let us know.

Thank you.

______________________________________________________________________________

To : MIRA INFORM PRIVATE LIMITED

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Company’s Stamp & Signature