Item 1.01 Entry into a Material Definitive Agreement

On November 18, 2008, Cintel Corp. (the "Company") entered into an amendment (the "Amendment") to the Subscription Agreement with Woori Private Equity Fund ("Woori") entered into on March 15, 2007 (the "Subscription Agreement"). Pursuant to the Subscription Agreement, the Company issued a Bond (the "Bond") in the amount of USD$63,000,000 (Korean Won 60,000,000,000). The Amendment revises the Put/Redemption Option in the Subscription Agreement to provide that in the event the Company does not go through the initial public offering process by October 31, 2009, Woori will have the right to redeem a partial amount of the principal amount of the Bond in the amount of KRW 20 billion and receive interest of 14% per annum compounded from the date of the issuance of the Bond. In the event the Company does not go through the initial offering process by October 31, 2010. Woori will have the right to redeem the outstanding principal amount of the Bond and receive interest of 14% per annum compounded from the date of the issuance of the Bond. In the event the Company secures the initial public offering process prior to the end of October 2010, Woori will be entitled on or after the fourth anniversary to redeem the outstanding principal balance of the Bond and receive interest of 8% per annum compounded from the date of issuance of the Bond.

Item 9.01 Financial Statements and Exhibits.

(c) Exhibits.

Exhibit Number Description
10.1 Amended CB Subscription Agreement dated November 18, 2008

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