MIRA INFORM REPORT

Report Date :

15.04.2011

IDENTIFICATION DETAILS

Name :	NISIM ARIEL HILO
Registered Office :	35 Shimon Hatarsi Street, Tel Aviv 62492
Country :	Israel
Year of Establishment :	2005
Legal Form :	Sole Proprietorship
Line of Business :	Traders, importers and marketers of grains

RATING & COMMENTS

MIRA’s Rating :

Ba

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

Maximum Credit Limit :	US$ 30,000.
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

ECGC Country Risk Classification List – December 31, 2010

Country Name	Previous Rating (30.09.2010)	Current Rating (31.12.2010)
Israel	a2	a2

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name & address

NISIM ARIEL HILO

(Also trading as HILO IMPORT EXPORT)

Telephone 972 3 544 60 70

972 9 952 36 24

Fax 972 9 952 36 67

35 Shimon Hatarsi Street

TEL AVIV 62492-ISRAEL

HISTORY & LEGAL FORMATION

A sole proprietorship, established in 2005.

Operating under Licensed Dealer No. 027232883.

According to the Tax Authorities’ files, subject’s business is listed under file name “HILO NISIM ARIEL“ (and Trade Name: “HILO IMPORT EXPORT”).

OWNERSHIP

Nisim Ariel Hilo.

GENERAL MANAGER

Nisim Ariel Hilo, Adv.

BUSINESS

Traders, importers and marketers of grains.

Subject works in close cooperation with affiliate company HILU - PULSES SORTING & TRADE INSTITUTE LTD.

Subject imports grains and alike also on behalf of this company.

Based on our findings, subject has other lines of operations, though Mr. Hilo confirmed that but did not want to comment further (see CHARACTER).

Operating from an office at the private residence of Adv. Hilo, in 7 35 Shimon Hatarsi Street, Tel Aviv.

Having 1 employee (besides owner/General Manager).

MEANS

Inventory levels said to be very low.

Financial details not obtainable.

ANNUAL SALES

Sales figures not forthcoming.

OTHER COMPANIES

HILU - PULSES SORTING & TRADE INSTITUTE LTD., incorporated 1991, owned by Yehezkel and Mrs. Yehudith Hilu, parents of subject’s owner, Nisim Ariel Hilo. Importers, exporters and marketers of pulses, operating a plant for pulses sorting. Also importers and marketers of dried fruits.

Nisim Ariel Hilo is an advocate, and may have his own practice.

BANKERS

Israel Discount Bank of Ltd., Ramat Gan Branch (No. 040), Ramat Gan.

CHARACTER AND REPUTATION

Nothing unfavorable learned.

Subject owner and manager, Nisim Ariel Hilo, refused to disclose financial data, as well as to elaborate on commercial related issues.

In our searches we came up with a venture with partners in Ghana called EZION GAVER, engaged in mining and natural resources in Africa. Actual nature of this venture is unknown. We asked Mr. Hilo on this issue, but he said he would not like to comment on that regard, and the current enquiry on subject concern the grains aspect only.

SUMMARY

Notwithstanding the refusal to disclose financial data, considered good for trade engagements.

Maximum unsecured credit recommended US$ 30,000.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.48
UK Pound	1	Rs.72.37
Euro	1	Rs.64.42

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	Capability to overcome financial difficulties seems comparatively below average.	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

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.