PARTNERSHIP AGREEMENT

The Partnership agreement (“the agreement”) is made between FELICIDAD CALLEJO

and EMMA M. JOHSON located at Catbangen, San Fernando City, La Union, each
partner and collectively the partners.

1. Partnership Name and Purpose, the partner agree to form a partnership under
the name of Ukay Partnership (the partnership) the partnership will be governed
in accordance with the laws of the state San Fernando City, La Union the
partnership has been form of the terms and condition set forth and below to
engage in the business of owning and operating an Ukay Ukay.

2. Receive a (500.00) Five Hundred Pesos every purchase of bale or Three

Hundred Thousand Pesos a Month.

3. Purchase of bale is every weekly.

4. Partnership capital contribution

P 1,000,000.00
P 1,000,000.00

5. Partnership Capital Accounts

The partnership will establish and maintain for each partner a separate capital
account consisting of the partners’ capital contribution a partner may not
withdraw any portion of capital from his or her capital account without the written
concern of all the partners’ interest at the rates times as determined by the
partners will be paid on the capital account of any partner.

6. Profits and Losses. The net profits and losses of the partnership will be divided
equally between the partners.

7. The partner’s income account. The partnership will establish and maintain for
each partner a corporate income account for each partner, each partner’s share
on the partnership profits and losses will be credited to or charge against his or
her income account. If there is no positive balance in a partnership will be
charged against his or her capital account interest at the rates and times as
determined by the partners will be paid on the income account of any partner.

FELICIDAD CALLEJO EMMA M. JOHSON