draft as of november 7, 2003  due diligence report  
of indtek co., ltd.
for inter-consort mercantile   
and investment co.
sungto accounting corp.

attention: mr. a

m. amiri inter-consort fze   p.o.box 16923  jebel ali free zone  dubai u.a.e  november 7, 2003  dear sirs  
we have completed our engagement to assist you in your assessment of the risks and opportunities of your proposed investment to indtek co., ltd.(indtek or the company) and with your investigation and analysis of the company.in accordance with the terms of reference set out in our engagement letter dated october 24, 2003, which is attached as appendix 1.
objectives  

the overall objective of our engagement was to assist you in your assessment of the risks and opportunities of your proposed investment to indtek and with your investigation and analysis of the company. you requested we perform selected procedures that are less than a full due diligence review, addressing the specific areas set forth in the aforementioned engagement letter

our work is part of the overall work being performed by your acquisition team.

in this regard, we made inquiries and performed analyses based on information made available to us. our assistance was directed towards those business activities and related financial data you have identified as being of concern to you

our fieldwork was conducted at the companys office in gumi, korea. basis of information  
the procedures we performed were limited in nature and extent to those which management determined best fit its informational needs.as such, this report may not necessarily disclose all significant matters about the company or reveal errors or irregularities, if any, in the underlying information.

furthermore, such procedures do not constitute an audit or review in accordance with generally accepted auditing standards in korea and, therefore, we do not express an opinion or any form of assurance, nor do we make any form of representation regarding the sufficiency of the procedures we performed for your informational needs. you have reviewed a draft of our report for the purposes of confirming that the procedures performed were consistent with those requested by you

unless otherwise indicated, our inquires were directed at the information obtained from the companys management. our engagement letter describes the procedures performed and is included in our report


we have indicated within our report the sources of the information presented. except where specifically stated, we have not sought to establish the reliability of those sources by reference to independent information

we have, however, sought explanations for key trends and salient features identified by us. we have also satisfied ourselves, so far as possible, that the information presented is consistent with other information obtained by us in the course of the work undertaken by us to prepare this report
   (이하 생략)