ETHIMEX LIMITED

BNP PARIBAS (SUISSE) S.A.

TRADE FINANCE SECURITY AGREEMENT

BANQUE CANTONALE VAUDOISE

TRADE FINANCE SECURITY DEED

Banque Cantonale Vaudoise

A fixed charge over all rights,title and interest in and to assigned receivables; all amounts,credits or other assets or rights held by the bank on any account whatsoever and all insurances thereon; the pledged goods and pledged documents. See the mortgage charge document for full details.