Discover Bali Indonesia's License

Department of Coordination of the Investments

Jakarta, the 16 April 2004

For President Director of Pt Discover Bali Indonesia
C/O: Jl Saba Komplek BTN 3, Banjar Gelumpang Sukawati Gianyar 80361

Letter of Agreement for Foreign Investment

Number	: 201/I/PMA/2004
Project Code	: 6304-51-16026

In relation to your proposals for obtaining an agreement and facilitation for foreign Investment that you have submitted:

Date	: March 29, 2004
Field	: Bureau of Travel and Tourism
Location	: Gianyar; Province of Bali

In accordance with our constitution Number 1 Year 1967, Number 11 Year 1970 and pointed by the President decision Number 97 Year 1993, Number 115 Year 1998, NUMBER 117 Year 1999, by the present, we let you know that the Government of Republic of Indonesia gave its agreement on following conditions:

In accordance with the Laws Number 9 Year 1990 concerning Tourist Industry and the Governmental Regulations Number 67 Year 1996 about the implementation of Tourist Industry by the Letter of Decisions Ministry for Tourism, Posts and N umber Telecommunications Km.21/HK.103/MPPT-88 dating from February 25, 1988, this letter for Agreement of Foreign Investment is valid as Provisional Permit until the Company obtaining permanent Business Permit.

Permit and other related decision to the foreign investment above will be emitted according to procedures in force.

During the realization of the project of investment above your Company should comply with the laws and valid government regulation. Failing to comply with condition above, The Chamber of Foreign Investment revokes your permit at anytime.

This Letter for Agreement will be cancelled of itself if within 3 (three) year after its emission, you do not proceed to the realization of the project of investment.

The Chief of the Department of Coordination of Investments
First Secretary,

Ir. Lastini

Recipients of this letter:

The President of the Republic of Indonesia
The Minister of Internal Affairs
The Minister of Finance
The Minister for the Culture and Tourism
The Governor of the Bank of Indonesia
The Ambassador of France in Indonesia
The Ambassador of Indonesia in France
The Deputy of the Department to the Development of Tourism, as well as Minister of Culture and Tourism
The General Director of Justice Administration
The General Director of the Tax
The General Director of the Customs
The Governor of the Province of Bali
The Chief of BKPMD Bali Province
The Council of Gianyar

(Translation of the document where the Ministry for the Justice of the Republic of Indonesia recognizes the legal existence of Pt Discover Bali Indonesia)

Department of Justice and humans right Republic of Indonesia
Decision of the Ministry for Justice and of the Humans right
Republic of Indonesia.
Number: C-02471 HT.01.01TH.2005
On The Subject
Recognition of the Legal Existence of Limited liability company
Ministry for the Justice and of Humans right republic of Indonesia

Declare that: Following the analysis made of Contents of the Act of Notary Model 1 and the documents annex supplementing it as well as Act, number 28, dating from April 21, 2004 fact by Notary I Made Gelgel, HS and of the Act number 2, dating from January 3, 2005 fact and given by the Notary Ida Adiningsih, HS and received on January 28, 2005, conclude that all the legal procedures and devices into force were respected.

That in accordance with:

Laws of the Republic of Indonesia, Number 1 Year 1995 concerning the Companies with Responsibility Limited (Card Nation of the Republic of Indonesia, Number 18 Year 1997, Card Complementary 3587Année Nation 1995)
Constitution of Republic of Indonesia, Number 8 Year 1997 concerning the relative Documents at the Companies (Card Nation of the Republic of Indonesia, Number 18 Year 1997, Complementary card Nation of the Republic of Indonesia, Number 3674).
Government Regulation Number 26, Year 1998 concerning the Use of the Name for one Limited liability company (Card Nation for the Republic of Indonesia Number 39, Year 1998, Complementary File Nation Number Year 3740)
Decision by The Minister of Justice and Humans right of the Republic of Indonesia Number: M-01 HT.01.01 Year 2000, concerning the System Administrative of the Department of Justice affiliated to the General manager of Administration of the Justice of the Department of Justice and the Rights of the Man of the republic of Indonesia.

With ETE TAKEN DECISION:

In a permanent way

FIRSTLY: To recognize the validity of the Act of Formation of the Company with Limited responsibility:

PT. DIFFERENT BALI AND INDONESIA TOURS & TRAVEL

NPWP: 02.194.195.0-059.000

Located at: GIANYAR in accordance with Contents of the Act of Notary Model 1 recorded in Database, Act of Notary Number: 28, April 21, 2004 bench by the Notary I Made Gelgel, HS and with the Act Number: 2, January 3, 2005 bench by Notary Ida Adiningsih, HS Located At BEKASI.

SECONDLY: That this Decision of the Minister for the Justice and the Humans right of Republic of Indonesia is put into force since the date of the establishment.

Bench in Jakarta
January 31 2005-05-07
Minister for the Justice and the Humans right Republic of Indonesia
General Director
Administration of Justice

Zulkarnain Yunus, HS, MH

NIP: 040034478