Document:

Exhibit 10.2

HSBC [LOGO]

Commercial Banking - GP 3, Div M
(CARM 061013)

CONFIDENTIAL
Concord Camera HK Ltd
14/F ADP Pentagon Centre
98 Texaco Road
Tsuen Wan                                                        18 October 2006
NEW TERRITORIES

Attn: Mr Paul Wong

Dear Sir

BANKING FACILITIES
A/C NO. 500-166012-001

With reference to our recent  discussion,  we confirm our agreement to extending
the  following  revised  banking  facilities  to your company which will be made
available on the specific terms and conditions  outlined below. These facilities
are  subject to review at any time and,  in any event by 15 June 2007,  and also
subject to our  overriding  right of  suspension,  withdrawal  and  repayment on
demand, including the right to call for cash cover on demand for prospective and
contingent liabilities.

                                              New               Previously
                                              ---               ----------
Import Facilities                             USD4,700,000.-    USD7,700,000.-

Documentary Credits to your suppliers and
Import Loan Facilities in either HK Dollars
or Foreign Currency for up to 120 days, less
any usance/credit periods granted by your
suppliers

within which                                  (USD4,700,000.-)  (USD7,700,000.-)

Goods under your control and/or Trust Receipts

We may, at our sole and absolute discretion,  refuse to allow drawings under the
facilities  if the  transaction  in  question  does  not  meet  our  operational
requirements in respect of these facilities.

Security

As  revised  security,  we  continue  to hold a charge  over  your  deposit  for
USD5,200,000.- (to be reduced from  USD8,200,000.-)  placed with us supported by
the Registered "Security Over Deposit" dated 27 January 2006 together with Board
Resolution dated 24 January 2006.

                                                                     Page 1 of 2

The Hongkong and Shanghai Banking Corporation Limited
HSBC Main Building, 1 Queen's Road Central, Hong Kong
Tel: (852) 2822 1111 Fax: (852) 2899 8846
Telex:73205 HSBC HX Telegrams: Hongbank Hongkong
Web: www.hsbc.com.hk

Incorporated in the Hong Kong SAR with limited liability.
Registered at the Hong Kong Companies Registry No. 263876

<PAGE>

HSBC [LOGO]

Concord Camera HK Ltd                                            18 October 2006
--------------------------------------------------------------------------------

In the event of the value of the foreign  currency deposit charged to us falling
below the required level and upon our request,  you should immediately pledge to
us  additional  security  acceptable  to us to  bring  the  value  back  to  the
threshold.

Please note that all costs and expenses (including legal fees) incurred by us in
connection with the extension of these facilities and any matters arising are to
be reimbursed by you on demand.

Apart  from the  foregoing,  all other  terms and  conditions  relating  to your
existing  banking  facilities  remain  unchanged as detailed in our letter of 11
July 2006.

Please  arrange for the authorised  signatories  of your company,  in accordance
with the terms of the  mandate  given to the Bank,  to sign and return to us the
duplicate  copy of this letter to signify your  understanding  and acceptance of
the terms and conditions under which these revised facilities are granted.

Unless  expressed  in  writing  from you to the  contrary,  we may  provide  any
information  relating to any of your accounts with us and any  facilities we may
provide  to you from  time to time or their  conduct  or any  other  information
concerning your relationship with us to any other company or office which at the
relevant time belongs to or is part of the HSBC Group.

Section 83 of the Banking Ordinance

Please note that Section 83 of the Banking Ordinance has imposed on us as a bank
certain  limitations  on  advances  to  persons  related  to  our  directors  or
employees.  In  acknowledging  this facility letter you should advise us whether
you are in any way  related  to any of our  directors  or  employees  within the
meaning of Section 83 and in the  absence of such advice we will assume that you
are not so related.  We would also ask, should you become so related  subsequent
to  acknowledging  this  facility  letter,  that you  immediately  advise  us in
writing.

These  revised  facilities  will remain open for  acceptance  until the close of
business on 8 December  2006 and if not  accepted by that date will be deemed to
have lapsed.

We are pleased to be of continued assistance.

Yours faithfully

                                                  For and On behalf of
                                                  CONCORD CAMERA HK LIMITED

                                                  /s/ Nancy Ling   Paul Wong

/s/ Terence Li

Terence Li
Senior Vice President

/kk

Encl

                                                                     Page 2 of 2Exhibit 10.5

[LOGO] DahSingBank                                     Dah Sing Financial Centre
                                                       108 Gloucester Road,
                                                       Hong Kong

19th June, 2006

Private & Confidential

Concord Camera HK Limited
14/F., ADP Pentagon Centre,
98 Texaco Road,
Tsuen Wan

For kind attention of
Mr. Paul Wong

Dear Sirs,

Re: Banking Facilities

We have the  pleasure  to inform you that we are  placing at your  disposal  the
under-mentioned  banking  facilities to expire on 30th June, 2007 subject to the
following terms and conditions: -

      OPENING OF LETTERS OF CREDIT
      &/OR DRAFT LOAN (30 DAYS)
      &/OR NEGOTIATING EXPORT L/C WITH
      LETTER OF GUARANTEE
      &/OR OUTWARD BILLS LOAN (30 DAYS) ............ USD2,280,000.00
                                                     (equ HKDl7,784,000.00)

Within this line,  USDl,897,000.00 (equ HKD14,800,000.00) is available for Trust
Receipt  (120 days) &/or Invoice  Financing  (120 days) & / or Packing Loan (120
days) & / or Advance Against Receivable (120 days).

      Interest Rate:
      Hong Kong Dollar:       @1.5% p.a. over HK Inter-bank Offer Rate or

      For US Dollar:          @1.5% p.a. over London Inter-Bank Offer Rate;
      Foreign Currency:       @1.5% p.a over Base Rate.

      Notes:
      1.    Maximum for D/L and T/R under one  transaction  is not to exceed 120
            days.

      2.    L/C  commission,  commission  in lieu  of  exchange  and  HKD  bills
            commission to be charged at:

            -     1/4% for the first USD50,OOO.OO;

            -     1/16% for the balance

      3.    Packaging  loan is up to 80% of export  L/C  amount and tenor is set
            for 120 days  from date of  advance  or  expiry  date of export  L/C
            whichever is earlier.

                                                                         Cont./-

--------------------------------------------------------------------------------
       Telephone: 2507 8866    Cable: Dahsingbank    Telex: 74063 DSB HX
                  Fax: 2598 5052    Website: www.dahsing.com

<PAGE>

DahSingBank, Ltd

                                      -2-

19th June, 2006

Concord Camera HK Limited

4.    For Invoice Financing, it is restricted to the following suppliers:

      i.    Ability Enterprise Co Limited

      ii.   Gauss Electronics Co Limited

      iii.  Kin Sang Chemical Limited

      iv.   Shenzhen Laiyinda Industrial Co Limited

      v.    Golden Eagle (Tianjin) Electronics Co Limited

5.    For Advance Against Receivable, maximum up to 90% of the sales invoices to
      the buyers and  documents no need to send out through our Bank. It is also
      restricted to the buyer Boots (Retail Buying) Limited, England

      TERMS & CONDITIONS:

      1)    Against pledge of fixed deposit for not less than USD1,000,000.00 in
            the name of Concord Camera HK Limited.

      2)    Against corporate guarantee of Concord Camera Corp., New Jersey, USA
            for USD2,280,000.00.

      3)    Audited  financial  statements  of the  borrowing  company  and  the
            guarantor to be submitted  for our reference not later than 9 months
            from the respective statement date.

      4)    Undertaking by the borrowing  company to maintain  company net worth
            not less than HKD80,000,000.00.

      5)    Undertaking by the borrowing company to have audited report with net
            profit for the business by financial year ended 30/6/2007.

      6)    Undertaking  by  the  borrowing  company  to  direct   import/export
            business to our Bank Not less than HKD60,000,000.00 per year.

      7)    Arrangement fee of HKD4,000.00 to be collected.

Other Terms and Conditions

The above credit  facilities are available for your acceptance  and/or draw down
within 2 months  from the date  hereof and are  subject to  complete  collateral
and/or documentation at all times.

The  facilities  are  subject  to  review  at any time and also  subject  to our
overriding right of withdrawal and repayment on demand.

                                                                         Cont./-

<PAGE>

DahSingBank, Ltd

                                      -3-

19th June, 2006
Concord Camera HK Limited

Any  amount(s)  which  is(are)  due but  not  paid  on the  due  date(s)  or any
unauthorized  overdraft  (including  overdraft  after the expiry of relative O/D
limit) or overdraft  exceeding  the approved O/D limit will be subject to charge
of overdue  interest or unauthorized  O/D interest at the Bank's then prevailing
rate(s). Interest on O/D may be compounded monthly. The Bank shall have the sole
discretion to change such interest rate(s) from time to time.

The Borrower and/or  Guarantor  hereby  undertakes to inform the Bank as soon as
there  is  any  change  in the  directorship  or  partners  of  the  company  or
partnership.

In respect of the Code of Banking Practice, we would draw to your attention that
by accepting this facility letter, you have given your consent to our providing,
from time to time,  relevant  information  or  documents in respect of the above
facilities or any subsequent amendment/renewal thereof including but not limited
to loan  outstanding,  statement  of account,  copy of contract  evidencing  the
obligation  guaranteed  and copy of formal  demand for  overdue  payments to the
guarantor(s) or securities providers of the facilities.

Please  note that  Section 83 of the  Banking  Ordinance  has imposed on us as a
licensed  bank  certain  limitations  on  advances  to  persons  related  to our
directors and employees. In acknowledging this Facility Letter, you undertake to
advise  us  whether  you  are in any  way  related  to any of our  directors  or
employees  within the meaning of Section 83. In the absence of such  advice,  we
will assume that you are not so related.  You are also requested to advise us in
writing should you become so related  subsequent to acknowledging  this Facility
Letter.

Our Insurance Division offers full range of insurance services.  As our valuable
clients,  our insurance  colleagues are pleased to provide you with professional
advice  and  esteemed  services  at  privileged  pricings  on  various  types of
insurance.  Should you require further information,  please feel free to contact
Mr. Jack Ng, Manager of Dah Sing Insurance Agency Ltd., at tel. no. 2921-6202 or
fax no. 2598-8008.

Please  confirm your  acceptance of the above by signing and returning to us the
duplicate copy of this letter at your earliest convenience.

It is our pleasure to commence relationship with your company. Please be assured
of our best  services at all times and we look forward to  developing a mutually
beneficial relationship between our two organizations.

                                                  I (WE) HEREBY CONFIRM MY (OUR)
                                                  UNDERSTANDING AND ACCEPTANCE
                                                  OF THIS LETTER

Yours faithfully,                                 For and On behalf of
For and on behalf of                              CONCORD CAMERA HK LIMITED
Dah Sing Bank, Limited
                                                  /s/ Gerald J. Angeli
                                                  -----------------------------
                                                  (AUTHORIZED SIGNATURES)
                                                  (WITH CO. CHOP IF ANY)

/s/ [ILLEGIBLE]
----------------------------------
Authorized Signature
Commercial Banking Division
VT/HH/3916/jy

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