In the Name of God

Date: 12/26/1999
No : BT-601/441

Iranian National Oil Refining and Oil Products Distribution Company
Project for Construction of Housing Complex in Bandar Abbas

To: Petropars Company

Subject: Bandar Abbas – Construction of a Housing Complex and the Relevant Infrastructure Facilities for 8th Refinery, Project No 6700601

Dear Sirs/Madams

Following Balagar Company’s request letter No 5502/2918 dated December 27, 1999 (copy attached), it is hereby confirmed that the said Company has cooperated with this Project Executers in the following constructions:

1. District 2 of the Complex consisting of 274 houses with the related infrastructures and the open spaces
2. Sewage Treatment Plant for Bandar Abbas Housing Complex
3. Electricity Station for the Complex
4. Sports Stadium for the Refinery
5. Bridge for the highway passing over the railway of Bandar Abbas Complex and Refinery

We are fully satisfied with the way Balagar Co has carried out the work and implemented the projects.

For Head of Bandar Abbas Housing Complex Project

Head Office: Tehran, Enghelab Sq, North Kargar St, West Nosrat St, No 40; Tel: 922205; Fax: 937786