EXECUTION COPY
   SHARE PURCHASE AGREEMENT
 by and among
 FOCUS MEDIA HOLDING LIMITED
 and
 ASTEROID MEDIA HOLDINGS LIMITED
 and
 FOCUS MEDIA HOLDING LIMITED,
as the Representative and Attorney-In-Fact
 30 JULY 2010




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TABLE OF CONTENTS
 PageARTICLE IPURCHASE TRANSACTIONS
    
    
    11.1
    
    Purchase Price
    
    
    11.2
    
    Purchase and Sale of Acquired Shares
    
    
    11.3
    
    Closing
    
    
    21.4
    
    Escrow
    
    
    21.5
    
    Withholding
    
    
    2ARTICLE IIREPRESENTATIONS AND WARRANTIES REGARDING THE SELLER
    
    
    32.1
    
    Authority
    
    
    32.2
    
    Execution and Delivery of Valid and Binding Agreements
    
    
    32.3
    
    No Breach
    
    
    32.4
    
    Title to Company Shares
    
    
    42.5
    
    Litigation
    
    
    42.6
    
    Acquisition Proposals
    
    
    42.7
    
    Brokerage
    
    
    4ARTICLE IIIREPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY AND ITS SUBSIDIARIES
    
    
    43.1
    
    Organization and Corporate Power
    
    
    43.2
    
    Share Capital and Related Matters
    
    
    53.3
    
    No Breach
    
    
    63.4
    
    Financial Statements
    
    
    63.5
    
    Absence of Undisclosed Liabilities
    
    
    73.6
    
    No Material Adverse Effect
    
    
    73.7
    
    Absence of Certain Developments
    
    
    73.8
    
    Assets
    
    
    93.9
    
    Real Property
    
    
    93.10
    
    Tax Matters
    
    
    103.11
    
    Contracts and Commitments
    
    
    123.12
    
    Intellectual Property Rights
    
    
    133.13
    
    Government Licenses and Permits
    
    
    163.14
    
    Litigation, etc
    
    
    163.15
    
    Brokerage
    
    
    163.16
    
    Insurance
    
    
    163.17
    
    Employees
    
    
    163.18
    
    Employee Benefits Matters
    
    
    173.19
    
    Compliance with Laws
    
    
    173.20
    
    Environmental and Safety Matters
    
    
    183.21
    
    Affiliated Transactions
    
    
    193.22
    
    No State Assets
    
    
    193.23
    
    No Other Representations or Warranties
    
    
    19
 -i-




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TABLE OF CONTENTS (Continued)
 Page3.24
    
    Indebtedness Amount; Net Working Capital Amount
    
    
    20ARTICLE IVREPRESENTATIONS AND WARRANTIES REGARDING THE PURCHASER
    
    
    204.1
    
    Organization; Power and Authority
    
    
    204.2
    
    Authorization; No Breach
    
    
    204.3
    
    Litigation
    
    
    204.4
    
    Brokerage
    
    
    204.5
    
    No Other Representations or Warranties
    
    
    20ARTICLE VSURVIVAL; INDEMNIFICATION
    
    
    215.1
    
    Survival of Representations and Warranties
    
    
    215.2
    
    Indemnification
    
    
    215.3
    
    Insurance Etc. Offset
    
    
    265.4
    
    Exclusive Remedy; Mitigation
    
    
    26ARTICLE VINONCOMPETITION AND NONSOLICITATION
    
    
    26ARTICLE VIITAX MATTERS
    
    
    277.1
    
    Tax Returns
    
    
    277.2
    
    Cooperation on Tax Matters
    
    
    287.3
    
    Transfer Taxes
    
    
    287.4
    
    Circular 698 Tax Matters
    
    
    287.5
    
    Tax Sharing Agreements
    
    
    297.6
    
    Refunds
    
    
    29ARTICLE VIIIADDITIONAL AGREEMENTS
    
    
    308.1
    
    Press Releases and Announcements
    
    
    308.2
    
    Further Transfers
    
    
    308.3
    
    Access to Books and Records
    
    
    308.4
    
    Confidentiality
    
    
    318.5
    
    Expenses
    
    
    318.6
    
    Conduct of Business of the Company
    
    
    318.7
    
    Notification of Litigation and Breach
    
    
    318.8
    
    Change of Personnel
    
    
    32
 -ii-




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TABLE OF CONTENTS (Continued)
 PageARTICLE IX329.1
    
    Conditions Precedent to Obligations of the Purchaser
    
    
    329.2
    
    Conditions Precedent to Obligations of the Seller
    
    
    33ARTICLE XTERMINATION
    
    
    3310.1
    
    Termination
    
    
    3310.2
    
    Effect of Termination
    
    
    34ARTICLE XIDEFINITIONS; CROSS-REFERENCES TO OTHER DEFINED TERMS
    
    
    3511.1
    
    Definitions
    
    
    35ARTICLE XIIMISCELLANEOUS
    
    
    4112.1
    
    Arbitration
    
    
    4112.2
    
    Consent to Amendments
    
    
    4212.3
    
    Successors and Assigns
    
    
    4212.4
    
    Counterparts
    
    
    4212.5
    
    Descriptive Headings; Interpretation
    
    
    4212.6
    
    Governing law
    
    
    4312.7
    
    Representative; Power of Attorney
    
    
    4312.8
    
    Notices
    
    
    4512.9
    
    No Strict Construction
    
    
    4612.10
    
    Entire Agreement
    
    
    4612.11
    
    Severability
    
    
    4712.12
    
    No Third-Party Beneficiaries
    
    
    4712.13
    
    Limitation on Damages
    
    
    4712.14
    
    Exclusivity
    
    
    47
 -iii-




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INDEX OF EXHIBITS
 Exhibit A
    
    Acquired Shares and Acquired Percentage
 -iv-




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SHARE PURCHASE AGREEMENT
 Agreement Seller Representative Purchaser Parties Party Article XI
 Company Shares Company Exhibit A Acquired Shares Exhibit A Acquired Percentage
  Other Purchase Agreements
    Purchase Price Purchase Price multiplied by
 Purchase and Sale of Acquired Shares
 Basic Transactions
 -1-




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Payment of the Purchase Price minus Escrow
Fund Escrow Account Escrow Agreement Escrow Agent Article V
 Register of Members
 Closing Section 10.1 Article IX Closing
 Escrow Article V exceeds
 Withholding
 provided
 -2-




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Section 1.5
   Seller Disclosure Schedule Article II Article II
 Authority
 Execution and Delivery of Valid and Binding Agreements
 No Breach
 -3-




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Title to Company Shares Section 1.2.1
 Litigation
 Acquisition Proposals
 Brokerage
   Article III Article III
 Organization and Corporate Power
 -4-




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Section 3.1.1
  Share Capital and Related Matters
  -5-




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No Breach
 Financial Statements
 -6-




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Recent Balance Sheet
 Absence of Undisclosed Liabilities Section 3.5
 No Material Adverse Effect
 Absence of Certain Developments
       -7-




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-8-




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Assets Transferred Assets Section 3.8 Assets Schedule Assets Schedule
 Real Property
 Leased Properties Lease Leases Leased Real
Property
 -9-




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Real Property Disclosure
 Tax Matters
      -10-




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-11-




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Contracts and Commitments.
 Material Contract
            -12-




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Intellectual Property Rights
  -13-




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Company Intellectual
Property
  -14-




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Company
Software
  -15-




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Government Licenses and Permits Licenses
 Litigation, etc
 Brokerage
 Insurance
 Employees
 -16-




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Inventions Agreement
 Employee Benefits Matters
 Plan Plans
     Compliance with Laws
 Section 3.19
 -17-




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Section 3.19 FCPA
  Section 3.19.3 Section 3.19.3
 Non-U.S. Official
   Environmental and Safety Matters
   -18-




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Affiliated Transactions
  No State Assets
 No Other Representations or Warranties Article II Article III
 -19-




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Indebtedness Amount; Net Working Capital Amount and Available Cash Amount plus minus
    Organization; Power and Authority
 Authorization; No Breach
 Litigation
 Brokerage
 No Other Representations or Warranties Article IV
 -20-




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Survival of Representations and Warranties
 Section 5.2.2 Section 5.2.4
 Indemnification
 Indemnification Obligations of the Seller Sections 5.2.2 5.2.3 Indemnitee
 Article II Article
III Section 3.19.1 Section 3.19
   Pre-Closing
Tax Period
 Section 3.24
 -21-




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Survival Date Section 5.2.1(a) Article II Article III Section 5.2.1(b)
 Section 3.10 Section 5.2.1(d)
 Sections 2.1 Authority 2.2 Valid and Binding Agreement 2.4 Title to Company Shares 2.7 Brokerage 3.1.1 3.1.2 Organization and Corporate Power 3.2.1 3.2.4 Share Capital and Related Matters 3.15 Brokerage Section 5.2.2(b) Fundamental Representations Fundamental Representation Section 5.2.1(c)
 Article II Article III Section
3.24 Section 5.2.1(e)
 Section 5.2.1(b) Section 5.2.2 Survival Date
 Section 5.2.3 Article V
 Limitations Article II Section 5.2.1(a) Limited Representation and Warranty Claim Deductible Section 5.2.1(e) Section 3.24
 -22-




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Cap Section 5.2.1(b) 5.2.1(c) Section 5.2.1(e) Section 3.24
 Indemnification Obligations of the Purchaser. Section
4.1 Organization; Power and Authority Section 4.2 Authorization Section 4.4 Brokerage Article IV Section 5.2.4 Section 5.2.4 Article V
 Defense of Claims Section
5.2 Indemnified Party Indemnification Notice Indemnifying Party
 Claims Between Purchaser and the Seller Section 12.1
 Third-Party Claims Proceeding Third Party
Proceeding Section 5.2 provided
 -23-




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Article V Section 5.2.5(b) provided
   Section 5.2.5(b)(iii)
  Section 5.2.5(b) Section 5.2.5(b)
 -24-




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Payments Article V Section 5.2 Wall Street Journal Article V
 Satisfaction of Indemnification Claims Section 5.2.1
 Other Indemnification Provisions Section 5.2
 Adjustment For Tax Purposes Section
5.2
 -25-




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Insurance Etc. Offset Section 5.2.1 Section 5.2.4
 Exclusive Remedy; Mitigation Article V Article X
    provided however provided further
  -26-




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Article VI Article VI Article VI Section 12.1 VI Article VI Article VI Article VI
 i.e.
   Tax Returns
 Section 7.4
 -27-




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Cooperation on Tax Matters
 Article VII
 Transfer Taxes
 Transfer Taxes Section 7.2.1
 Circular 698 Tax Matters.
   -28-




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Tax Sharing Agreements
  Refunds
 Section 5.2.1
 Straddle Period provided
 -29-




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Press Releases and Announcements
  Further Transfers
  Access to Books and Records
  Confidentiality
  -30-




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Section 8.4 Section 8.4 Section 8.4
 Expenses
  Conduct of Business of the Company
 Section 10.1
 Notification of Litigation and Breach
 Section 9.1.1 9.1.2 Section 8.7
 -31-




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Change of Personnel
   Conditions Precedent to Obligations of the Purchaser
 Representations and Warranties Article II Article III Section 3.24
 Performance Section
3.7
 No Material Adverse Effect
 No Injunction, Etc
 Certification Sections
9.1.1 9.1.2 9.1.3
 -32-




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Conditions Precedent to Obligations of the Seller
 Representations and Warranties
 Performance
   Termination
  Section 9.1.1 9.1.2
 Section 9.2.1 9.2.2
 Section 9.1 provided however
 -33-




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Section 10.1.4
 Section 9.2
 Termination Date provided Section 10.1.6 Section
10.1.6
 Effect of Termination Article X
  Article X Limited Guarantee Article X provided Section 10.2 Sections 8.4 8.5 Article
XII
 Section 10.1.4 Purchaser Termination Fee Section 10.1.4
 -34-




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Section 10.1.5 Termination Fee Section 10.1.5
 Section
10.2
   Definitions
  Acquisition Proposal
 Affiliate
 Affiliated Group
 Agreement
 -35-




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Applicable Percentage multiplied by
 Available Cash Amount
 Business Day
 Cash
 Code
 Competing Business
 Current Assets provided however provided further
 -36-




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Current Liabilities Section 3.13
 dollar dollars $
 Encumbrances
 GAAP
 Indebtedness
 Indebtedness Amount
 Intellectual Property Rights
 -37-




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Investment
 knowledge aware
 Key Employee Schedule 11.1
 Liability
 Lien Liens
 Loss Losses Article V
 Material Adverse Effect provided
 -38-




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Net Working Capital Amount minus
 Non-Competition Period provided however Section 6.1
 Non-Solicitation Period
 Permitted Liens
 Person
 PRC
 RMB Renminbi
 SAFE
 Share Capital
 Subsidiary
 -39-




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Tax Taxes
 Tax Benefit
 Tax Returns
 Transaction Agreements
   Term
    
    SectionAcquired Percentage
    
    RecitalsAcquired Shares
    
    RecitalsAgreement
    
    PrefaceCap
    
    Section 5.2.3Closing
    
    Section 1.3
 -40-




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Term
    
    SectionClosing Date
    
    Section 1.3Company
    
    PrefaceCompany Shares
    
    RecitalsDeductible
    
    Section 5.2.3Fundamental Representations
    
    Section 5.2.2Indemnification Notice
    
    Section 5.2.5Indemnified Party
    
    Section 5.2.5Indemnifying Party
    
    Section 5.2.5Indemnitee
    
    Section 5.2.1Inventions Agreement
    
    Section 3.17Lease
    
    Section 3.9.1Leased Real Property
    
    Section 3.9.1Leases
    
    Section 3.9.1Legal Proceedings
    
    Section 2.5Licenses
    
    Section 3.13Limited Representation and Warranty Claim
    
    Section 5.2.3Other Purchase Agreements
    
    RecitalsParties
    
    PrefacePre-Closing Tax Liability
    
    Section 5.2.1(d)Proceeding
    
    Section 5.2.5Purchaser
    
    PrefacePurchase Price
    
    Section 1.1Recent Balance Sheet
    
    Section 3.4Representative
    
    PrefaceSeller
    
    PrefaceSurvival Date
    
    Section 5.2.2Third Party Proceeding
    
    Section 5.2.5Transferred Assets
    
    Section 3.8
   Arbitration
 HKIAC Section 12.1
 -41-




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Consent to Amendments
  Successors and Assigns
  Counterparts
  Descriptive Headings; Interpretation
  -42-




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Governing law
  Representative; Power of Attorney
 Representative Original Representative Successor Representative Section 12.7 Section 12.7
 Power of Attorney
 Article I Article V Applicable Provisions Article I Article V Section 12.7
  -43-




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Section 12.7
   Section
12.1
 Section 12.7
  -44-




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Section 12.7
   Notices
  To the Purchaser
 
 -45-




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with copies (which shall not constitute notice) to
 David Patrick Eich
 To the Seller
 
  
 To the Representative
 
 No Strict Construction
  Entire Agreement
 -46-




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Severability
  No Third-Party Beneficiaries
 Article V
 Limitation on Damages
 Exclusivity Article
X Article X Alternative Transaction
 -47-




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-48-




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THE PURCHASER:
ASTEROID MEDIA HOLDINGS LIMITEDBy:
    /s/ Xun (Eric) ChenName:
    Xun (Eric) ChenTitle:
    Director THE SELLER:
FOCUS MEDIA HOLDING LIMITEDBy:
    /s/ Alex Deyi YangName:
    Alex Deyi YangTitle:
    General Manager and Director Signature Page to Share Purchase Agreement