CIA SANCTION CONFIRMATION

Sanction awarded at the CIA Conference in

Dmitrov, Russia, March 10^th – 11^th, 2006

EVENT :                                       1^st POHANG INTERNATIONAL BALLOON FIESTA

CATEGORY :                          CIA SPORTING EVENT

DATES :                                       November 8^th – 12^th, 2006

LOCATION :                                       POHANG, Korea

CONTACT :                           Jun-Ho HUH

                                                    balloons@pohangballoons.com

SANCTION FEE :                  CHF                          500,00 paid

OFFICERS:                          Hans AKERSTEDT, SWE

                                             Danny GALBRAITH, AUS

JURY PRESIDENT:                                                    John GRUBBSTRÖM, SWE

CIA AGREEMENT :                                              Signed                                     March 11^th, 2006

EVENT SANCTION GRANTED                          March 11^th, 2006