20 May 2000
Kee & Co., Ltd
34 Regent Street
London, UK

Dear Sirs:

Thank you for your letter of 20 May asking for a change in payment terms.

There is nothing unusual in our current arrangement. From the time you open credit
until the shipment reaches your port is normally about three months. In addition, your
L/C is only opened when the goods are ready for shipment.

I regret to say that we must adhere to our usual practice and sincerely hope that this
will not affect our future business relations.

We will contact you as soon as supplies of the steel pipes you require come into stock.

                                                                                                 Yours faithfully,

                                                                                                     Tony Smith
                                                                                                     Chief Seller