15th January, 2007

Mr. George Papadopoulus

Dear George,

As the year 2006 is behind us, I would like to mark the excellent job you have done in the Greek and the Cypriot market, and the remarkable cooperation between us.

There were 3 main targets that were achieved:

1. Expanding the customers' base and strengthening the hold in the Greek and Cypriot markets.

2. Turning the Cypriot market into a local market by providing excellent service to the customers.

3. Raising prices in the second half of 2006.

I wish you that in the year 2007, we shall have new successful opportunities. One of them will be to complete the inclusion of the Athens area in Phoenicia's local market.

Sincerely yours,

Oded Tyrah

cc. Russ EbeidJim MooreRene FioreseEugenio Diez

ד. תעשיה אזור ת. רית" לית נצרת703"ציפו 17053 עי , : החברה-לשכה נשיא ן 04-6410253/4טלפו

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