MIRA INFORM REPORT

Report Date :

23^rd February, 2007

IDENTIFICATION DETAILS

Name :	STAR ASIA, INC.

Registered Office :	37 West 47^th Street Suite #401, New York, New York 10036, United States .

Country :	United States

Date of Incorporation :	16.03.1998

Legal Form :	Corporation - Private

Line of Business :	Diamond Broker

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	Regular

Litigation :	Clear

IDENTIFICATION & EXECUTIVE SUMMARY

Company Name : STAR ASIA, INC.

Address : 37 WEST 47TH STREET SUITE #401

City : NEW YORK

State/Province : NEW YORK

Zip Code : 10036

Country : UNITED STATES

Telephone : 212 997-7827

Facsimile : 212 398-4446

Legal Form : Corporation - Private

Website : www.starasiainc.com

@rating Opinion :

Business Activity : Star Asia, Inc. is a diamond broker.

As of :

Sales / Revenue :

Net Income :

Total Equity :

NOTE TO CLIENT

Contact person: Samir Parikh, Manager.

Mr. Parikh declined to provide any information for the report. He referred us to the Company's President, Mr. Sailesh Sanghvi who was traveling on business.

Mr. Parikh requested we send a written request to Mr. Sailesh Sanghvi to complete upon his return, at his discretion.

We have sent a fax, and have yet to received a response.

We were unable to obtain the number of employees.

Mr. Parikh stated the Company's website is under construction.

LEGAL

Legal Form : Corporation - Private

Since (D/M/Y) : 16/03/1998

State/Province of Incorporation : NY

Status : ACTIVE

Previous Legal Form:

Company is NOT required to publish an annual financial report.

The Company is incorporated in the state of New York.

Selected Entity Name: STAR ASIA, INC.

Selected Entity Status Information Current Entity Name: STAR ASIA, INC.

Initial DOS Filing Date : MARCH 16, 1998

County : NEW YORK

Jurisdiction : NEW YORK

Entity Type : DOMESTIC BUSINESS CORPORATION

Current Entity Status : ACTIVE

Selected Entity Address Information DOS Process (Address to which DOS will mail process if accepted on behalf of the entity)

C/O MEHUL SHROFF

580 5TH AVENUE, STE. 1902

NEW YORK, NEW YORK, 10036

Registered

Managers/Key Personnel

Mr. Sailesh Sanghvi President

AFFILIATED ENTITIES

There are no known affiliates or subsidiaries.

BANKS

Telephone:

Facsimile:

Account Number:

Account Manager:

Mr. Parikh declined to provide any banking information.

PAYMENT HISTORY

BUSINESS DATE LAST PAYMENT CREDIT BALANCE CUR 1- 31- 61-

CATEGORY REPTD SALE TERMS $ $ % 30 60 90 91+ COMMENTS

---------- ----- ----- ------- -------- -------- --- --- --- --- --- --------

AIR TRANS 06-12 06-12 0000000 4900 1500 100 0 0 0 0 CUST 9 YR

BUS SERVCS 07-02 00-00 NET 30 100 0 0 0 0 0 0

CHEMICALS 07-02 00-00 NET 30 200 200 0 33 33 34 0

OFFC SUPPL 07-01 00-00 CREDIT 4000 600 100 0 0 0 0

CELLUL/PAG 04-03 04-02 NET 30 0 0 0 0 0 0 0 CUST 6 YR

CURRENT QUARTER 9200 2300 91 3 3 3 0

Payment Trends

INDUSTRY BUSINESS BALANCE CUR 1- 31- 61-

DATE CUR DBT DBT $ % 30 60 90 91+

-------- --- --- --- -------- --- --- --- --- ---

20070200 0 5 2 2200 94 3 3 0 0

20070100 0 4 2 1900 94 3 3 0 0

20061200 0 4 6 3500 75 21 2 2 0

20061100 0 4 2 7500 95 2 2 1 0

20061000 0 4 3 4000 91 4 3 2 0

20060900 0 5 1 3400 96 2 2 0 0

Payment History - Quarterly Averages

BALANCE CUR 1- 31- 61-

QUARTER YEAR DBT $ % 30 60 90 91+

-------- ------ --- -------- --- --- --- --- ---

Fourth 2006 3 4300 90 7 2 1 0

Third 2006 2 2800 94 3 2 1 0

Second 2006 3 2100 87 12 0 1 0

First 2006 3 1300 87 11 2 0 0

Fourth 2005 1 600 96 4 0 0 0

FINANCIAL INFORMATION

Mr. Parikh declined to provide financial information.

CURRENT OPERATIONS

NAICS Code : 42194 Jewelry, Watch, Precious Stone and Precious Metal

SIC Code : 5094

Business Activity

Star Asia, Inc. is a diamond broker.

The company imports from overseas and distributes diamonds within the United States.

The heading address is the sole location.

PUBLIC RECORD

No derogatory legal action was filed against the Subject nor were there any Uniform Commercial Codes that were filed by the Subject.

A search of bankruptcy courts revealed no record of the Subject filing for bankruptcy.

GENERAL COMMENTS

The Company imports and distributes diamonds in the United States. Payment history indicate fair payment trends. Legal indicate no negative litigation taken against the Subject. Thus, the Company is considered to be responsible for normal business tranactions.

RATING EXPLANATIONS

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.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	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
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

This score serves as a reference to assess SC’s credit risk and to set the amount of credit to be extended. It is calculated from a composite of weighted scores obtained from each of the major sections of this report. The assessed factors and their relative weights (as indicated through %) are as follows:

Financial condition (40%) Ownership background (20%) Payment record (10%)

Credit history (10%) Market trend (10%) Operational size (10%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions