Property Sale and Purchase Contract

The Seller (hereinafter referred as “Party A”): Hainan Zhonghe Pharmaceutical
Co., Ltd.
 
 
Legal Representative: Cui Xueyun
 
 
Address: No.168 Nanhai Street, Haikou, Free Trade Zone

The Buyer (hereinafter referred as “Party B”): Hainan Twenty First Media Co.,
Ltd.
 
 
Legal Representative: Weiqiong
 
 
Address: Fortune Plaza, Binhai Street, Haikou

Article 1 Basic Situation of Property
 
The property owned by Party A is located at Haiyun Road, Dadonghai Block, Hedong
District, Sanya ; frame of building is Composite Structure ; the building area
of the property is  927.70 square meters, ownership certificate No. is Santufang
(2007) No. 3012 .
 
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Article 2 Nature of Land Use Right

 
The property related land use right was acquired by pay compensation for
leasing; the useful life is till December 19, 2065.

Article 3 Price
 
Calculated by building area, the sale price for that property is RMB23000 per
squatter meter, the total value is RMB21,337100.00

Article 4 Payment
 
Party B shall pay Party A advance payment RMB500,000.00 on the date when the
contract comes into effect, and pay another RMB38,000,000.00 before December 31,
2008. The rest amount shall be completely paid with 90 days after consummating
transfer of the property ownership.

Article 5 Delivery Time
 
Party A shall delivery certificate of ownership to Party B before October 31,
2008 and shall finish going through the land alteration registration procedures
before December 31, 2008.

 
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Article 6 Liability for Party B’s overdue payment

If Party B fails to pay in time specified in Article 4, Party A has right to lay
Party B a penalty interest. Penalty interest will be charged at 3‰ monthly of
purchasing value of property from the second day after stipulated date to
actual payment day.

Article 7 Liability for Party A’s overdue delivery
 
Except for special cause like force majeure, if Party A fails to delivery the
property to Party B stipulated in Article 5, Party B has right to charge Party A
a penalty interest on already paid principal. Penalty interest will be
calculated at 3‰ monthly of purchasing value of property from the second day
after stipulated date to actual delivery day. In case of Party B’s actual
economic loss exceeding penalty, Party A shall compensate the difference between
actual loss and penalty, which does not disturb the performance of contract.
 
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Article 8 Terms on property right registration
 

Party A shall actively assist Party B go through the land alteration
registration procedures. If Party B is not able to obtain ownership
certification of property within 90 days after hand-over between two parties due
to Party A’s fault, Party B has the right to request from Party A a penalty
equal to 5% of already paid amount.

Article 9 Party A promises upon transaction there is no disputes related to
property, all matters regarding mortgage, collateral, taxes and rental be
settled before transaction. If there are outstanding issues mentioned above,
Party A shall undertake all responsibilities caused thereby.

Article 10 Land Appreciation Tax is paid by Party A and Title Deed Tax be paid
by Party B; other taxable items incurred hereby shall, except as otherwise
agreed, be paid according to pertinent regulations by either party respectively.

Article 11 Matters unmentioned herein, if any, may be regulated separately
through negotiation by both parties and supplemented agreement may be signed
hereto.

 
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Article 12 The two parties shall consult with each other and mediate any
disputes, which may arise about the contract. If all attempts fail, the two
parties can appeal to the organization of arbitration in Haikou and ask for a
final arbitration.

Article 13 This contract will come into effect on the date signed by both
parties.

Article 13 This contract is in four copies with equal effect, two copies for
relevant institutions and two copies for either party.

Party A: Hainan Zhonghe Pharmaceutical Co., Ltd.

Party B: Hainan Twenty First Media Co., Ltd.

                     
Singed in Haikou City on October 9, 2008

 
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