MIRA INFORM REPORT

Report Date :

30.11.2011

IDENTIFICATION DETAILS

Correct Name :	COPLA LTDA IMPORT & EXPORT

Registered Office :	Avda Sanchez Lima 2127 Ed. Tres Carabelas Pb Zona Sopocachi.

Country :	Bolivia

Date of Incorporation :	Not Available

Legal Form :	Partnership Concern

Line of Business :	Natural sodium borates and concentrated.

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Unknown

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)

Bolivia

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

Registered Name

COPLA LTDA IMPORT & EXPORT

Summary

COMPANY INFORMATION COMPLETELY reluctant to provide. ALL THE FOREGOING was compiled from third party sources. NOT REGISTERED NEGATIVE. FOR LACK OF DATA, IT IS YOUR DECISION THE STEPS TO FOLLOW.

Operations

> Natural sodium borates
And concentrated.

Contact

Operative address: Avda Sanchez Lima 2127 ED. TRES CARABELAS PB Zona SOPOCACHI.

Phone:              242.4614 y 242.0640
e-mail:              copla@entelnet.bo
Fax.                 242.3972
P.O. Box 3447

Partners

Partners:

> RUTH MARIA DEL PILAR CALERO DE ORMACHEA
> PABLO ORMACHEA PACHECO

Both have the use of the corporate signature.

History

The society that concerns us is dedicated to the exportacvion of natural sodium borates and concentrdos even burned.

Excluding borates separated from natural brine, natural boric acid and so on.

Your representative is Mr. Diego Ormachea Francisco Pacheco. Who is in charge of activities for over 10 years.

Are installed in the direction of reference and made ??exportsciones to Brazil, Colombia, Chile, China, El Salvadfor, India, Mexico, Peru and elsewhere.

Their offices are at 2127 Avenida Sanchez: City of La Paz.

Mr. Ormachea directly in charge of activities and has the collaboration of qualified staff and Mr. Jorge Maldonado.Tambien Assistant is a member of society Mrs. Ruth Maria del Pilar Ormachea Cashier.

About the same time are members of another company COPLA LTDA.

One of its main customers is INDO BORAX CHEMICALS LTD. in Houston, Texas via Balbao.

Society is awarded the property they occupy in the direction of reference, the same name.

As vehicles are on behalf of General Manager.

They operate with the following banks:

> BANK BISA
> UNION BANK

Both branches of La Paz, Bolivia

LEGAL BACKGROUND:
-----------------------------------

> NO RECORDS CHECKS WITHOUT FUNDS
> NO RECORDS REQUESTS FOR BANKRUPTCY
> NO RECORDS PENDING LAWSUITS

CREDIT COMPLIANCE:
Unfortunately we have no data to allow the issue of debt cancellation but our International Legal Department does not record information that may affect the development of operations.

CONCLUSION:
We recommend taking the necessary measures before deciding on a commercial operation.

OPERATE with caution.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.93
UK Pound	1	Rs.80.62
Euro	1	Rs.69.37

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