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English Translation

1stAmendment of the Lease from 25
September 2004

|Between the | GSA Grundstücksfonds
      Sachsen-Anhalt GmbH                                           
|----------- | -----------------------------------------------------------------------------------------
|            | Kantstraße 5, 39104 Magdeburg                                                            
|            |                                                                                          
|            | Represented by the
      Managing Director Klaus-Dieter Theise                           
|            |                                                                                          
|            | acting in his own name, but as
      the fiduciary mandate and on account of the State of
|            | Saxony-Anhalt                                                                            
|            | **- lessor -**                                                                           
|            |                                                                                          
|            |                                                                                          
|And the     | AFM aluminiumfolie Merseburg GmbH
      August-Bebel-Straße 1,                           
|            | 06217 Merseburg                                                                          
|            |                                                                                          
|            | Represented by the managing
      directors Bernd Gebhardt and Peter Ruhle               
|            | - lessee -                                                                               

Each individually a party and together the
parties

Preamble:

The lessee acquired the property and the mobile and immobile
assets of FWM Folienwerk Merseburg GmbH i.I. in accordance with the fiduciary
mandate of the State of Saxony-Anhalt. The lessor is acting in its own name, but
as mandated and on the account of the State of Saxony-Anhalt.

In August-Bebel-Straße in Merseburg (site) the
Folienwerk Merseburg GmbH i.I. ran a foil rolling mill consisting of a rolling
mill (rolling mill) and a refiner (refiner). With the lease of
26 September 2002 the lessor leased the rolling mill, and the areas of the site
associated with it, to the lessee. The refiner and the areas of the site
associated areas were leased to the company Flex Team GmbH Flexible
Verpackungen (Flex-Team). After Flex-Team moved its operations away
from Merseburg and left the site, the parties concluded the lease of 25
September 2004 for additional areas and buildings at the site.

The parties amended the lease form 25 September 2004 as
follows:

Art. 2 Section 1 (Term of Lease, Handover) will be amended
as follows:

1. The lease ends, if it is not extended or prematurely
terminated in accordance with the provisions of this section, on 31 December
2015. For the first time and only on 30 September 2007 and 31 December 2009 may
the lease be cancelled by the lessee on 30 September 2007 and 31 December 2009,
respectively, with a notification period of three months. If the lease
relationship is not cancelled by either party for 31 December 2015 with a
notification period of 6 months, the lease will be considered as concluded
indefinitely and may be cancelled by either party to the end of the current year
of the lease with a notification period of 6 months. Notifications of
cancellation must be made in writing to be effective.

The following Art. 2 Section 3 will be added:

3. The following will apply for the period after 1 January
2010:

Should the Consumer Index for Germany published by the
Statistisches Bundesamt base year 2000 = 100, change by more than 2.5% compared
to the value in column Overall Index for January 2009, the contractual
partners may request an adjustment of the rent effective 1 January 2010. The
criterion for the adjustment is the percentage change of the Index.

In the subsequent period a further adjustment may be requested
with the same deadline of 1 January each year, if the published value has
changed by more than 2.5% from the previously adjusted value.

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English Translation

Should the consumer price index agreed upon here no longer be
continued, a valid cost of living index aill be applied that is comparable to
the agreed upon index.

All other provisions of the lease from 1-2 September 2004
remain in affect and unchanged and are not affected by these
amendments/supplements

|Magdeburg 11 April 07     |  | Merseburg 11 April 07            
|------------------------- |  | ---------------------------------
|GSA Grundstücksfonds      |  | AFM aluminiumfolie merseburg GmbH
|Sachsen-Anhalt
      GmbH |  |                                  
|K.-D. Theise              |  | Bernd Gebhardt and Peter Ruhle   

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