MIRA INFORM REPORT

Report Date :

3^rd March, 2007

IDENTIFICATION DETAILS

Name :	IMATEC AG

Registered Office :	Industriering 46c, 3250 Lyss/BE, Switzerland

Country :	Switzerland

Date of Incorporation :	01.10.1992

Legal Form :	Joint stock company

Line of Business :	Manufacturer and Wholesalers of Metal and wood grinding machines

RATING & COMMENTS

MIRA’s Rating :

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

Maximum Credit Limit :	EUR 7.500

Status :	Satisfactory

Payment Behaviour :	Usually Correct

Litigation :	Clear

overall assessment:	300

detail assessment:	payments:
	There are no complaints about the mode of payment and business conduct.
	*Individual credit limit:**	EUR 7.500,--

* individual credit limit is to be understood as the highest possible engagement for a supplier delivering goods or rendering services on open terms with an average respite of 60 days.

Name

Imatec AG

Line of Business

Schleifmaschinen

Legal domicile

Industriering 46c

3250 Lyss/BE

Switzerland

Telephone : 032 3871700

Fax : 032 3871701

Homepage : www.imatec.ch

CREDIT ADVICE

Credit opinion: A maximum credit of EUR 7.500 is considered in order.

This credit advice is based on information available at the time of conducting the research, being the above indicated date.

All amounts in this report are given in Swiss Francs (CHF) unless otherwise stated.

GENERAL COMPANY DATA

OFFICIAL DATA

Legal form : Joint stock company

Registration : 01-10-1992

First Publication : 14-10-1992

Last Publication : 03-09-2004

Share capital : 100.000

Paid up : 100.000

Divided into : 100 Special registered shares of 1.000

Shareholders : The shares are in private ownership.

Company Management : Peter gen. Pierre Wunderli, Roland Ledermann

ACTIVITY

Line of business : Metal and wood grinding machines

Sector : Manufacture/Wholesale

Activity

The scope of business encompasses the development and manufacture and trading of machines and tools, especially metal and wood grinding machines. In addition Imatec is also devoted to sample constructions, etc.

Trading area : Worldwide

Import/Export

The company is active in Import and Export.

EMPLOYEES

Number of employees: 5

PAYMENT AND FINANCIAL DATA

PAYMENT EXPERIENCES:

Legal actions : No legal actions or distraints are registered.

Report from 16-08-2001, in 3270 Aarberg.

A current check of the legal actions requires a document of justification with a legitimate signature.

There are no complaints about the mode of payment and business conduct.

FINANCIAL DATA

Financial position : The financial affairs are considered to be in order.

Financial Statements : The company does not disclose any financial statements.

Third parties are however not permitted any detailed insight into the financial affairs.

Banker(-s)

UBS Ltd, 3250 Lyss

Auditors

Multifiduciaire Fribourg SA, Fribourg

Premises

The premises at the above mentioned address are rented.

Real estate property: No real estate is owned.

COMPANY AND PERSON RELATIONS

COMPANY CONNECTIONS:

Shareholder(s) : Roland Ledermann, Busswil bei Bueren/BE (Main shareholder).

Investments : No investments apparent.

BOARD OF DIRECTORS

Roland Marti Ledermann, from Lauperswil, in

Busswil bei Bueren/BE/Switzerland,

President, sole signature.

Peter gen. Pierre Wunderli, from Richterswil, in

Sutz-Lattrigen/BE/Switzerland,

Managing Director, sole signature.

Jean-Paul Chawadronow, from France, in

Fribourg/FR/Switzerland,

Member, sole signature.

PERSONNEL INFORMATION

Roland Ledermann is married to Marianne Ledermann Wuethrich and lives at the Bielstrasse 31 in 3292 Busswil b. Bueren.

There are no detrimental reports on the responsible persons' business conduct.

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