Settlement Agreement

This agreement of settlement of unpaid account is entered into by Great Bounty Box Packaging
Corporation with postal address at #1192 Kabatuhan St, Home Centrum, Mapulang Lupa, Valenzuela
City, represented by Jose L. Sunga of legal age and Packlink Industrial Corporation with postal
address at #18 Dizon Compound, G. Marcelo St, Maysan, Valenzuela City, represented by Benjie
Espelita of legal age.

That Great Bounty Box Packaging Corporation has an outstanding account of P376,000.00 for the
purchase of raw materials (Mill Run Sheet) from Packlink Industrial Corporation.

That great Bounty Box Packaging Corporation will transfer the ownership of his machines and
equipment stated below to Packlink Industrial Corporation.

1 Unit = Manual Slotter

Model: YL90L-4
Year Acquired: January 2004
Made: Philippines
Brand: Q&N Machinery
1 Unit = Small Creassing Machine
Model: YC-905-4
Year Acquired: January 2004
Made: Philippines
Brand: De Belen
1 Unit = Stitching Machine
Model: L-60
Serial Number: 1378
Year Acquired: January 2004
Made: Philippines
Brand: Q&N Machinery

That the machine and equipment stated above will serve as full payment of Great Bounty Box
Packaging Corporation to his unpaid account amounting to P376,000.00 to Packlink Industrial
Corporation.

That upon turnover and physical position of the above stated machine and equipment, Packlink
Industrial Corporation, will no longer demand and will consider the account payables of Great
Bounty Box Packaging Corporation amounting to P376,000.00 as paid and settled.
Signed by:

_________________________ _________________________
Jose L. Sunga Benjie Espelita
Representative of Great Bounty Representative of Packlink
Box Packaging Corporation Industrial Corporation

Signed this day _____ of ________________, year _______ with witnesses:

__________________________ ________________________
Witness Witness

Notarized by: