MIRA INFORM REPORT

Report Date :

12.12.2011

IDENTIFICATION DETAILS

Name :	BEVILLES PTY LTD

Formerly Known As :	DARM PTY. LTD

Registered Office :	Level 3, 257 Collins Street, Melbourne , Victoria , Zip/postal code 3000

Country :	Australia

Date of Incorporation :	25.06.1974

Legal Form :	Proprietary Company

Line of Business :	retail of Jewellery, Watches and Giftware

No. of Employees :	600 persons

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 :	USD 480,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
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 – September 30^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Australia

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

Bottom of Form

Identification details Bottom of Form

Verified Address

Subject name : BEVILLES PTY. LTD.

Other style / Business name : BEVILLES JEWELLERS

Business address : Level 3, 257 Collins Street

Town : Melbourne

Province : Victoria

Zip/postal code : 3000

Country : Australia

Tel : +61 3 86659900

Fax : +61 3 86659955

Email : sales@bevilles.com.au

Website : www.bevilles.com.au

Registered address : Level 3, 257 Collins Street

Town : Melbourne

Province : Victoria

Zip/postal code : 3000

Country : Australia

Postal address : P.O. Box 232

Town : Flinders Lane

_{Province : Victoria}

Zip/postal code : 8009

_{Country : Australia}

Summary details

Executive Summary

Date founded or registered : 25/06/1974

Legal form : Australian Proprietary Company

Chief executive : Michelle Beville-Stanton

Issued & paid up capital : AUD 100,002

Sales turnover : AUD 35,000,000 (Estimated Non-consolidated 12 months, 30/06/2011)

Line of business : Retail sales of jewellery, diamonds, gemstones, watches, homewares and

giftwares.

_{Staff employed : 600 employees}

Credit risk opinion

Company Analysis

Country risk : Country risk is minimal

Operation trend : Operational trend is steady

Management experience : Management is adequately experienced

Financial performance : Financial performance is good

Organization structure : Organizational structure is stable

Detrimental records : No detrimental records found

Payment history : No payment delays noted

_{Credit amount suggestion : USD 480,000}

Credit amount asked : Not described.

_{Comments : Larger credit can be considered if
guarantees is obtained.}

Statutory details

Registry Data

Registration date : 25/06/1974

Legal form : Australian Proprietary Company

Registration no Australian Company Number: 005064308

Registered authority : Australian Securities & Investments Commission

Fiscal/ Tax no : Australian Business Number: 16005064308

Registry status : Live/Active

Previous name : DARM PTY. LTD. (initial)

Change of legal form : None reported.

Other registration : BEVILLES JEWELLERS is a business name owned by the Subject registered under business registration no: NSW BN97713086, SA BN04265350, QLD BN19830580, ACT F 00123178, VIC 1272742D.

Management / directors

Key Management

Name : Michelle Beville-Stanton

Designation : Chief Executive Officer

Name : Gary Beville

Designation : General Manager

Name : Tony Sprogis

Designation : Chief Financial Officer

Name : Kylie Artavilla

_{Designation : Training
anager}

Board of directors / other appointments

Appointments

Name : Keith Robert Beville

Designation : Director and Company Secretary

Appointment date : 25/06/74

Address : 11 Whernside Avenue

Toorak, VIC 3142

Australia

Biography : Born on 10-11-1934 in Sydney, New South Wales, Australia.

_{Staff employed : 600 employees}

Share capital

Composition

Authorized Capital : AUD 100,002

No of shares : 100,002 Ordinary Shares

Share par value : AUD 1

Issued capital : AUD 100,002

_{Paid up capital : AUD 100,002}

ownership / shareholders

How listed : Full List

Composition

Shareholder name BEREICH PTY. LTD.

Address Level 3, 257 Collins Street

Melbourne, VIC 3000

Australia

No. of shares 100,002 Ordinary Shares

_{% of shares 100%}

Related companies & corporate Affiliations

Structure

Name BEREICH PTY. LTD.

Affiliation type Parent Company

Address Level 3, 257 Collins Street

Melbourne, VIC 3000

Australia

Name ROMEO ART PTY LTD

Affiliation type Associate

Address Level 3, 257 Collins Street

Melbourne, VIC 3000

Australia

Name BEVILLES SUPER PTY. LTD.

Affiliation type Associate

Address Level 3, 257 Collins Street

Melbourne, VIC 3000

Australia

_{Name BEVILLES
PARTY PLAN PTY LTD}

Affiliation type Associate

Address Level 3, 257 Collins Street

Melbourne, VIC 3000

_Australia

Bank & mortgages

Bank Details

Name of bank : Commonwealth Bank Of Australia

Address : Australia

Account details : Current Account

Comments : It is generally not the policy of local banks to provide credit status information to non related parties, however interested parties would be advised to consult first with the Subject if banker's references are required.

Mortgages

Satisfied Charges:

ASIC Charge Number: 393973

Date Registered: 15-07-1993

Charge type: Fixed

Date Created: 10-06-1993

Chargees Name: ROYAL AUSTRALIA FINANCE LIMITED

ASIC Charge Number: 542453

Date Registered: 11-06-1996

Charge type: Fixed

Date Created: 10-05-1996

Chargees Name: WI PREMIUM FUNDING LIMITED

Unsatisfied Charges:

ASIC Charge Number: 325215

Date Registered: 09-01-1992

Charge type: Both Fixed & Floating

Date Created: 27-12-1991

Chargees Name: COMMONWEALTH BANK OF AUSTRALIA

Legal Fillings

Bankruptcy fillings : None reported.

Court judgements : None reported.

Tax liens : None reported.

Others : None reported.

financial data

Description

Source of financial statement : External Sources

Financial statement date : 30/06/11

_{Type of accounts : Estimated key figures}

Currency : Australia Dollar (AUD)

Exchange rate : 1 USD = AUD 0.98 as of 15-11-2011

Summarized Financial Information

^{Consolidation type :}Non Consolidated

^{Currency :}Australia Dollar (AUD)

^{Denomination :}(x1) One

^{Date of financial year end :}30/06/11

^{Length of accounts :}12 months

^{Sale turnover / Income :}35,000,000

Comments : The Subject is classified as a small proprietary company by the Australian Securities & Investments Commission hence is not required to disclose their financial statement.

A proprietary company is defined as small for a financial year if it satisfies at least two of the following:

- The consolidated revenue for the financial year of the company and any entities it controls is less than $25 million;

-The value of the consolidated gross assets at the end of the financial year of the company and any entities it controls is less than $12.5 million, and

-The company and any entities it controls have fewer than 50 employees at the end of the financial year.

The Subject meets all criteria to reveal their financial information however is still exempted from filling their financial information by the Government of Australia.

Operation details

Main activities : The Subject is engaged in retail sales of jewellery, diamonds, gemstones, watches, homewares and giftwares.

The Subject operates 29 stores located across Australia.

Product & services

· Gold Jewellery

· Silver Jewellery

· Diamonds

· Gemstones

· Watches

· Homewares Giftwares

Brand : Citizen, Guess, Casio, DKNY, Fossil, JAG, D&G, Pierre Cardin, Pulsar, Seiko

Purchases

International : China, Hong Kong, Japan, India, Sri Lanka, United States, Europe

Sales

Local : Yes

International : No exports.

Future development : The Subject is planning to open stores in Mount Druitt in Sydney and Elizabeth in

South Australia.

Property & Assets

Premises : The Subject operates from premises located at the verified heading address consisting of administrative office.

Branches : In addition, the Subject operates from 29 retail stores located in New South Wales, South Australia, Queensland, Victoria and Australian Capital Territory.

Summarized country risk

Central bank : Reserve Bank of Australia

Reserve of foreign exchange & gold : US$ 41.385 billion

Gross domestic product – GDP : US$ 1.235 trillion

GPP (Purchasing power parity) : 918.529 billion of International dollars

GDP per capita - current prices : US$ 55,590

GDP - composition by sector : agriculture: 4.1% industry: 26% services: 70%

Inflation : 2008: 4.4%

2009: 1.8%

2010: 2.8%

Unemployment rate 2008: 4.2 %

2009: 5.6 %

2007:5.2 %

Public debt

(General Government gross

debt as a % GDP) 2008: 11.6%

2009: 17.6%

_{2010: 22.3 %}

Government bond ratings Standard & Poor's: AAA-/Stable/A-1+

Moody's rating: Aaa

Moody's outlook: STA

Market value of publicly traded shares US$ 1.258 trillion

Largest companies in the country : Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)

Trade & Competitiveness Overview

Total exports US$210.7 billion

Exports commodities coal, iron ore, gold, meat, wool, alumina, wheat

Total imports US$187.2 billion

Imports commodities machinery and transport equipment, computers and office machines, telecommunication equipment and parts, crude oil and petroleum products

Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India

5.5%, UK 4.2%

Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany

5.2%, UK 4.3%, Thailand 4.2%

FDI Inflows 2007: US$45,477 million

2008: US$46,722 million

2009: US$22,572 million

_{FDI Outflows 2007:
US$16,822 million}

2008: US$32,819 million

2009: US$ 18,426 million

Best countries for doing business : 10 out of 183 countries

Global competitiveness ranking : 16 (ranking by country on a basis of 133, the first is the best)

Country and Population Overview

Total population : 22.23 million

Total area : 7,692,024 km2

Capital : Canberra

_{Currency : Australian Dollars (AUD)}

Internet users as % of total population : 74.00%

Payment history

Purchase Term

Local : Cash against document, Prepayment, Credit up to 120 days

International : L/C, Prepayment, Credit up to 120 days

Sales Term

Local : Cash, Credit card

Trade Reference/ Payment Behaviour

Comments : As local and international trade references were not supplied, the Subject's payment track record history cannot be appropriately determined but based on our research, payments are believed to be met without delay.

Investigation Note

Sources : Interviews and material provided by the Subject

: Other official and local business sources

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.23
UK Pound	1	Rs.81.55
Euro	1	Rs.69.60

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
----	NB	New Business	----

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.