SOGA STREET INVESTMENTS CC, SOUTH AFRICA

40 Richmond Ave, Craighall Park, Johannesburg, 2196 Tel: +27 83 276 2969 Fax: +27 866 316 247 In partnership with

EMERSON ERCILIO BORIERO, BRAZIL

Rua Angelo Steck, 104 - CS 06 - Centro - Louveira - So Paulo - CEP. 13.290.00 Tel: +55+11+8629.2724

23 October 2008 X-O Trading Group Inc. 1924 Lake Alden Drive- 2nd Floor Apopka FL 32712 USA
Full Corporate Offer With full corporate responsibility, we SOGA STREET INVESTMENTS CC in partnership with EMERSON ERCILIO BORIERO hereby confirm that we are ready, willing and able to sell the product iron ore mentioned herein below, under the following terms and conditions: Commodity Origin Loading Port Delivery Packaging Price Quantity Payment : Iron ore Fe 64.5% : Brazil : Any safe port in Brazil at Sellers choice : 45 days after receipt of LC acceptable to Sellers bank : Loose bulk : US$135.00 per MT CIF ASWP : 1,050,000 MT per month for 12 months renewable : Irrevocable, Transferable, Assignable, Unconditional Money Backed Bank Guarantee from a prime bank to covers three months worth of shipment to be in place for 13.5 months. Full payments for each consignment is by Irrevocable Revolving Documentary letter of credit (RDLC) in a top prime bank. Inspection : SGS/CIQ/CCIC to determine quality & quantity at the Loading port. Only SGS inspection cost at the loading port to be borne by the SELLER. CIQ/CCIC cost, if requested by the BUYER, to be borne by the BUYER. P. Bond : On receiving acceptable payment instrument from Buyer, the Seller will issue a Performance Bond 2% of the value of the Letter of Credit in the form of Corporate Performance Bond to be issued by seller. Offer valid until : 28 October 2008 Contract : To be finalised upon acceptance of this FCO Procedures : 1) Seller issues Full Corporate Offer (FCO) 2) The Buyer accepts the offer and returns signed copies of FCO to the Seller with all Company details as required. 3) Seller issues contract and both Buyer and Seller sign contract. Buyer issues the payment instrument and the Seller issues a 2% PB in return.

With partners in: Juba, Southern Sudan Kalimantan, Indonesia Poltava, Ukraine Kostrzyn, Poland Kualar Lumpar, Malaysia Lagos, Nigeria Moscow, Russia Mumbai, India Santa Catarina, Brazil

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Description ITEM

: GUARANTEED (%) REJECTION (%)

Chemical Composition (on dry basis) Fe Al2O3 SiO2 S P K2O CaO MgO Na2O TiO2 Mn 64.5% 0.7% 3.0% 0.007% max 0.05% 0.008% 0.02% 0.03% 0.005% 0.08% 0.15% Below 63.5% Above 2.00% 4.00% 0.03% 0.06%

Physical characteristics: ITEM 0.15 mm 3mm 3mm 5mm 5mm 10mm GUARANTEED (%) 30% min 60% max 10%max. REJECTION (%) % % %

Your confirmation, acceptance and compliance with this Full Corporate Offer will be highly appreciated. Yours sincerely

With partners in: Juba, Southern Sudan Kalimantan, Indonesia Poltava, Ukraine Kostrzyn, Poland Kualar Lumpar, Malaysia Lagos, Nigeria Moscow, Russia Mumbai, India Santa Catarina, Brazil

Fezile Silandela

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