Construction Companiesí Association

(Construction Companies’ Syndicate)

In the name of God

86 & 88 South Saba,
Taleghani Ave,
Tehran 14169,

Tel: 6464261, 6402037, 6469105, and 6418352 Date: April 14, 2007
Telex: 212242 STSS IR ; No : 86-810/76033Fax: 6464084
Registration No: 94
Ministry of Labor: 110

Balagar Construction Co
Issuance of Certificate

In response to your letter number 101/16874 dated April 9, 2007, it is hereby confirmed and certified that Balagar Construction Co was entered as a member into this Association on January 17, 1983 under membership number 454-131328 and presently is an active member of the Association.  This Certificate is issued at the said Company’s request to be presented to the relevant organizations.

Javad Khansary