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References

SHIP MACHINE - BUILDING" JSCo

To whom it may consern

AUTHORIZATION LETTER

Dear Sir or Madam,

Please be informed that we, Ship Machine - Building JSCo, a company registered under the laws of the RepubIic of Bulgaria, having its registered address at 24, Devnya Str., Varna, Bulgaria, VAT ID: BG103000946, represented by its General Manager Nav. Arch. Ivan Dimitrov Daskalov, hereinafter referred to as "Principal"

authorize

Bumerang Shipping Ltd., registered with 2 Strandzha Str., 9000 Varna, Bulgaria, represented by the Anton Hristov Ganev - Manager,

to promote the Principal's products and services in Italy, Spain, Lithuania, Latvia to present specific technical and/or commercial information related to the Principal's products as per the Principal's instruction, provided on a case-by-case basis, and to receive enquiries from potential clients in Italy, Spain, Lithuania, Latvia.

 Please note that the present letter does not grant autorization to carry comersial negotiations or to take responsibilities on behalf of Ship Machine-Building JSCo

Sincerely Yours

Nav.Arch. Ivan Dimitrov Daskalov

27th October 2010

Varna, Bulgaria

 


 " MTG-DOLPHIN" PLC

ship repairs. coversions, ship building То whom it тах coпcerп

D10th of November 2010 ate:

REFERENCE LETTER

We would like to inform аll parties concerned that Messrs Bumerang Shipping Ltd, have bееп working as our subcontractor for than а year. For this tiтe they prove theтselves as а сотрапу with skilled manageтent and highly qualified personnel. They are experts in their field and the assigned jobs they performed оп tiтe, with high quality and professionalisт.

We would like also to confirт that Buтerang Shipping Ltd сап act as our non-exclusive Agent оп the territory of  Spafn for period оf опе calendar year (ипtil November 10th, 2011), without rights to bind "MTG-Dolphin" Plc and to sign agreeтents from our side. The final decision about contract undertakings should rely solely оп "MTG Dolphin" decision.

We trust that the information provided will bе ofhelp and assistance .

Stoyanov .

Director