Newstate Holdings Inc Watch

from 10KSB/A 1 page Request for Extension of Credit Transaction To: Taegu Bank, Ltd. We Would Like to Request for an Extension of the Period of Our Credit Transaction With Your Esteemed Bank, Which Is Identified as Below, From May 27, 1999 to November 27, 1999 Due to Our Unavoidable Circumstances. 1. Classification of Credit: General Fund Loan 2. Commencement of Transaction Period: May 27, 1998 3. Initial Loan Amount: Five Billion Won 4. Current Banlance of Loan: Five Billion Won 5. Amount of Loan to Be Deferred: Four Billion Won 6. Interest Rate: 12.75 %P.A. Dated: May 27, 1999 By: Yeongnam Housing Finance Co., Ltd. 286-1 Shinchun-Dong Dong-Gu, Taegu By: Kwang Ryong Koh, President

from 10KSB/A ~1 page Ex.10.16-Credit Transaction Agr Dated 5/27/98

from 10KSB/A ~5 pages Ex. 10.12 - Credit Transaction Agr Dated 11/24/99

from 10KSB/A ~5 pages Ex. 10.11 - Credit Transaction Agr Dated 7/12/2000

from 10KSB/A ~5 pages Ex.10.10-Credit Transaction Agreement Date 1/18/00

from 10KSB/A 1 page Agreement to Amend Repayment Terms Korea Investment Trust Co., Ltd., the Creditor, and Newstate Capital Co., Ltd. (F/K/a Dongsuh Finance Co., Ltd.) , the Debtor, Dated September ,1998 as Follows: Article 3 (Terms of Reundertaking of Credit) - The Terms of Reundertaking of Credit Shall Be as Follows : 1. Repayment of Principal : 1/31/2000 : 10% of the Principal (1.9 Billion Won) 7/31/2000 : 20% of the Principal (3.8 Billion Won) 1/31/2001 : 10% of the Principal (1.9 Billion Won) 4/30/2001 : 10% of the Principal (1.9 Billion Won) 7/31/2001 : 10% of the Principal (1.9 Billion Won) 1/31/2002 : 40% of the Principal (7.6 Billion Won) 2. Interest Rate : Preferential Interest Rate (Bank Account) of the National Agricultural Cooperative Federation +0.85% on the Date of Interest Payment. However, Variable Interest Shall Be Applied From the First Maturity Date of Cp After the Execution of the Agreement. Dated : October 7, 1999 Creditor : Korea Investment Trust Co., Ltd. 27-1 Yoido-Dong Youngdeungpo-Gu, Seoul by : Haeng Byun, President

from 10KSB/A ~5 pages Ex. 10.7 - Credit Agreement Dated 1/8/2000

from 10KSB/A 1 page Ex. 10.6 - Credit Transaction Agr Dated 1/7/2000

from 10KSB 1 page Request for Extension of Credit Transaction To: Taegu Bank, Ltd. We Would Like to Request for an Extension of the Period of Our Credit Transaction With Your Esteemed Bank, Which Is Identified as Below, From May 27, 1999 to November 27, 1999 Due to Our Unavoidable Circumstances. 1. Classification of Credit: General Fund Loan 2. Commencement of Transaction Period: May 27, 1998 3. Initial Loan Amount: Five Billion Won 4. Current Banlance of Loan: Five Billion Won 5. Amount of Loan to Be Deferred: Four Billion Won 6. Interest Rate: 12.75 %P.A. Dated: May 27, 1999 By: Yeongnam Housing Finance Co., Ltd. 286-1 Shinchun-Dong Dong-Gu, Taegu By: Kwang Ryong Koh, President

from 10KSB ~1 page Ex.10.16-Credit Transaction Agr Dated 5/27/98

from 10KSB ~5 pages Ex. 10.12 - Credit Transaction Agr Dated 11/24/99

from 10KSB ~5 pages Ex. 10.11 - Credit Transaction Agr Dated 7/12/2000

from 10KSB ~5 pages Ex.10.10-Credit Transaction Agreement Date 1/18/00

from 10KSB 1 page Agreement to Amend Repayment Terms Korea Investment Trust Co., Ltd., the Creditor, and Newstate Capital Co., Ltd. (F/K/a Dongsuh Finance Co., Ltd.) , the Debtor, Dated September ,1998 as Follows: Article 3 (Terms of Reundertaking of Credit) - The Terms of Reundertaking of Credit Shall Be as Follows : 1. Repayment of Principal : 1/31/2000 : 10% of the Principal (1.9 Billion Won) 7/31/2000 : 20% of the Principal (3.8 Billion Won) 1/31/2001 : 10% of the Principal (1.9 Billion Won) 4/30/2001 : 10% of the Principal (1.9 Billion Won) 7/31/2001 : 10% of the Principal (1.9 Billion Won) 1/31/2002 : 40% of the Principal (7.6 Billion Won) 2. Interest Rate : Preferential Interest Rate (Bank Account) of the National Agricultural Cooperative Federation +0.85% on the Date of Interest Payment. However, Variable Interest Shall Be Applied From the First Maturity Date of Cp After the Execution of the Agreement. Dated : October 7, 1999 Creditor : Korea Investment Trust Co., Ltd. 27-1 Yoido-Dong Youngdeungpo-Gu, Seoul by : Haeng Byun, President

from 10KSB ~5 pages Ex. 10.7 - Credit Agreement Dated 1/8/2000

from 10KSB 1 page Ex. 10.6 - Credit Transaction Agr Dated 1/7/2000