MIRA INFORM REPORT

Report Date :

21.01.2011

IDENTIFICATION DETAILS

Correct Name :	SAMUEL AARON INC

Registered Office :	Corporation Trust Center 1209 Orange Street, Wilmington, New Castle, De 19801

Country :	United States

Date of Incorporation :	04.03.1985

Legal Form :	Corporation for Profit

Line of Business :	Jewelry Manufacturing

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

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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

United States

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

GEOPOLITICS - UNITED STATES

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD

Branch Situation: Stable

IDENTIFICATION

Ordered as:	Samuel Aaron International
Address in the order:	31-00 47th Avenue 4th Floor, Long Island City, New York - 11101

Legal Name:	Samuel Aaron Inc (Samuel Aaron International)
Trade Name:	Samuel Aaron International
Legal Address	Corporation Trust Center 1209 Orange Street, Wilmington, New Castle, De 19801, USA. (Registered Agent)
Operative Address	3100 47th Ave Fl 4, Long Island City, New York 11101, USA. (headquarters)
Telephone:	+1 (718) 392-5454	ID :	2056141
Fax:	+1 (718) 786-2748	Legal Form:	Corporation for Profit
Email:	NA	Registered in:	DELAWARE
Website:	www.samuelaaron.com	Date Created:	1950
Manager:	Robert J Wueste, Chairman Of The Board	Date Incorporated:	March 04, 1985
Staff:	300	Stock:	NA
		Value:	NA
Activity:	Jewelry manufacturing

BANKS

Name of the Bank	HSBC BANK USA, N.A.
Name of the Bank	ABN AMRO BANK, NV.

BUSINESS

HISTORY
	The company was created in 1950. It is the founding division of the Aaron Group.
PRINCIPAL ACTIVITY
	Jewelry Manufacturing
Products/Services description:
	The Aaron Group focuses on eight core product categories in the fine jewelry market. Diamond Bridal Genuine and Semi-Precious Gemstone Silver Men's Hispanic Religious Loose Diamonds Branded & Private Label Collections
Sales are:
	Wholesale
Brands:
	Past, Present, Future Brand at Zales.
Operations area:
	National, International, Local
The company export to Europe and Asia
The subject employs 300 employee(s)
PAYMENTS
	made on a 60 days basis - monitored over the last 12 months
LOCATION
Headquarters
	The company is headquartered at 3100 47TH AVE FL 4, Long Island City, New York 11101, USA.
Comments on location:
	The company is incorporated in Delaware for tax purposes.
Branches:
	The company has facilities in Thailand, India, Costa Rica and China.

Shareholders - Manager - Related Companies

Listed at the stock exchange:
	NO
Shareholders Parent Company(ies):
	The company operates as a subsidiary of AARON GROUP, LLC. AARON GROUP, LLC 3100 47TH AVE STE 4 Long Island City, New York 11101 USA Phone: (718) 392-5454 www.samuelaaron.com
Management:
	Robert J Wueste, Chairman Robert Kempler, President Richard Katz, Chief Financial Officer Ray Goddard, Director, Data Processing Vincent Vialetta, Dir Of Oprs Tom Crow, Director
Related Companies:
	RB (Robert Baum) Thai Link Diamond Dimensions RBI (Rene Bargueiras Inc.)

Financials - COMMERCIAL TRENDS AND FORECAST

As a private company the subject does not publish any financial statements.

We have contacted the operator of the company who refused to provide us any financial data without knowing the name of the inquiring party.

However, a previous agent could find the following data (estimates):

Currency	DATE
USD	2008
Turnover	22,800,000
The cash flow is	Normal

Legal Fillings

There are several UCC** files listed with the Secretary of State of New York.

There are no legal filings listed with the District Court.

THE COMPANY IS NOT LISTED ON THE OFAC LIST.*

For information:

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America.

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

The Uniform Commercial Code Bureau files and maintains on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

Rating

Local credit bureau gave a Correct credit rate.

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

Final Opinion

This is a big sized US company, with 300 employees and 60 years of experience in the market.

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	CORRECT	Public Records	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Position
	Operator of the company
Comments
	The person contacted refused to provide us any information on grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.58
UK Pound	1	Rs.72.73
Euro	1	Rs.61.45

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%)

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