On November 30, 2003, the Defendants signed the following sales contract (hereinafter “instant contract”) with respect to the instant land with the Plaintiff Intervenor Co., Ltd. (hereinafter referred to as the “J”) on the co-owners of the Dobong-gu Seoul Metropolitan Government R-gu 7,876 square meters (hereinafter referred to as the “instant land”).

A (Defendants) sell the instant land to B (J) in price for KRW 15.7 billion.

B The construction of a new 79 household units on the ground of the instant land (hereinafter referred to as the “instant construction”) with a burden of all expenses, and then the said apartment units are sold in lots and the sales price shall be paid as the sales price.

At the time of sale, Gap and Eul shall mutually cooperate.

Provided, That the sale price shall not raise an objection, and Eul shall be liable for the land price of 15.7 billion won, and the bank for the land defect of 6.5 billion won shall be liable for A before the approval of the project, and Eul shall bear interest from the date of approval of the project.

Provided, That Party A shall provide only land.

Provided, That in executing approximately 38 square meters of exclusive use area and about 44 square meters of the parcelling-out area, Eul shall be responsible for and work for civil engineering, design, food deposit (to be deemed to be a clerical error in the trust), supervision, entrance fees, and all expenses for the operation of PF funds, and the highest level of the building shall be constructed to make it possible to complete the completion of construction within six months from the date of approval for the project and move in, and Gap shall calculate the unit price for parcelling-out and settle it as a substitute.

A and B shall preferentially treat the sale price as the construction cost of 100% B, and the head of the Tong and the head of the Tong shall manage the joint account.

B. The J shall set the Defendants as the owner after the conclusion of the instant contract.