ESCROW
      AGREEMENT

    


    ESCROW
      AGREEMENT, dated as of January 16, 2007 (“Agreement”),
      among
      THELEN REID BROWN RAYSMAN & STEINER LLP (the “Escrow
      Agent”),
      the
      investors set forth on the signature pages hereto (each, an “Investor”
and
      collectively, the “Investors”),
      IRISH
      MAG, INC., a Florida corporation (the “Company”),
      and
      JIANG HUAI LIN (“Mr.
      Lin”).
      The
      Escrow Agent, the Investors and the Company are sometimes individually referred
      to herein as a “Party”
and
      collectively, as the “Parties”.
      

    


    BACKGROUND

    


    The
      Investors and the Company are entering into a Securities Purchase Agreement
      on
      the date hereof (the “Securities
      Purchase Agreement”)
      pursuant to which the Investors are to acquire a number of shares of the
      Company’s common stock as specified therein for an aggregate purchase price of
      $14,950,001.80

    


    The
      Company has agreed to provide the Investors with certain exclusive negotiating
      rights as set forth in this Agreement in consideration of the Investors putting
      an aggregate of Fourteen Million, Nine Hundred Fifty Thousand and One Dollars
      and Eighty Cents ($14,950,001.80) (the “Escrow
      Deposit”)
      into
      escrow on the terms and subject to the conditions set forth in this
      Agreement.

    


    AGREEMENT

    


    NOW,
      THEREFORE, the parties hereto, intending to be legally bound, hereby agree
      as
      follows:

     

    1. Appointment
      of Escrow Agent; Establishment of Escrow Account.

     

    (a) The
      Investors, the Company and Mr. Lin each hereby appoint the Escrow Agent as
      escrow agent and the Escrow Agent accepts that appointment and agrees to hold
      and dispose of the Escrow Deposit in accordance with the terms of this
      Agreement. Escrow Agent acknowledges receipt of fair and reasonable
      consideration for its services.

     

    (b) The
      Escrow Deposit shall be provided to the Escrow Agent in immediately available
      funds by federal wire transfer and shall be deposited by the Escrow Agent in
      an
      interest bearing escrow account (the “Escrow
      Account”)
      that
      is segregated from all other accounts.

     

    2. Release
      of the Escrow Deposit.

     

    (a) On
      January 31, 2007 the Escrow Agent shall promptly release the Escrow Deposit
      to
      the Investors in such amounts as were deposited by each Investor with the Escrow
      Agent, if the Closing (as defined in the Securities Purchase Agreement) has
      not
      occurred. The Escrow Agent shall release the Escrow Deposit to the Investor
      upon
      receipt from the Investor of written instructions to that effect, which
      instructions shall be provided at the sole discretion of the Investor. Neither
      the Company nor any affiliate of the Company shall deliver any notice to the
      Escrow Agent that conflicts in any way with the written instructions of the
      Investors hereunder and the Escrow Agent shall be permitted to ignore any such
      conflicting notice. The Escrow Agent shall return the Escrow Deposit to the
      Investors promptly following receipt by the Escrow Agent of such Investors
      instructions and may rely on such written instructions from the Investors even
      if such written instructions are contrary to anything contained in this
      Agreement or in the Securities Purchase Agreement.

     


    
      
         

      

      
        
        

        
          

        

      

      
         

      

    


    


     

    (b) On
      or
      before January 31, 2007 the Escrow Agent shall promptly release one-half of
      the
      Escrow Deposit, which is Seven Million, Four Hundred Seventy Five Thousand
      Dollars and Ninety Cents ($7,475,000.90) (the “First
      Closing Escrow”),
      in
      accordance with Exhibit
      A
      hereto,
      upon receipt of a joint written instruction from the Company and the Investors,
      if the Closing (as defined in the Securities Purchase Agreement) has
      occurred.

     

    (c) If
      the
      First Closing Escrow has been released to the Company in accordance with Section
      2(b), then, on April 30, 2007 (the “Due
      Date”),
      the
      Escrow Agent shall promptly release Seven Million, Four Hundred Seventy Five
      Thousand Dollars and Ninety Cents ($7,475,000.90) (the “Second
      Closing Escrow”)
      to the
      Investors in such amounts as were deposited by each Investor with the Escrow
      Agent, if Second Closing (as defined in the Securities Purchase Agreement)
      has
      not occurred. The Escrow Agent shall release the Second Closing Escrow to the
      Investors upon receipt from the Investor of written instructions to that effect,
      which such instructions shall be provided at the sole discretion of the
      Investors. Neither the Company nor any affiliate of the Company shall deliver
      any notice to the Escrow Agent that conflicts in any way with the written
      instructions of the Investors hereunder and the Escrow Agent shall be permitted
      to ignore any such conflicting notice. The Escrow Agent shall return the Second
      Closing Escrow to the Investors promptly following receipt by the Escrow Agent
      of such Investors instructions and may rely on such written instructions from
      the Investors even if such written instructions are contrary to anything
      contained in this Agreement or in the Securities Purchase Agreement.
      Notwithstanding the foregoing, upon the written request of the Company to the
      Investors with a copy to the Escrow Agent, and at the option of the Investors,
      the Investors may provide the Company with monthly extensions of the Due Date,
      provided that the Company pays to the Investors (pro rated based on the amounts
      that were deposited by each Investor with the Escrow Agent) in advance for
      each
      such monthly extension an aggregate extension fee equal to $74,750. Such
      extension fee shall be pro rated for periods of less than one full month. If
      any
      such extension is so granted by the Investors, then the Second Closing Escrow
      shall be released (i) in accordance with Exhibit
      B
      hereto
      upon the occurrence of the Second Closing (as defined in the Securities Purchase
      Agreement), upon receipt of a joint written instruction from the Company and
      the
      Investors, or (ii) to the Investors, in such amounts as were deposited by each
      Investor with the Escrow Agent, upon notice (provided in accordance with the
      second, third and fourth sentence in this subsection (c)) to the Escrow Agent
      that the Second Closing (as defined in the Securities Purchase Agreement) has
      not occurred following the expiration of any such extension.

     

    (d) If
      the
      First Closing Escrow has been released in accordance with Exhibit
      A,
      then,
      on or before April 30, 2007 (the “Due
      Date”),
      the
      Escrow Agent shall promptly release the Second Closing Escrow in accordance
      with
Exhibit
      B,
      upon
      receipt of a joint written instruction from the Company and the Investors,
      if
      the Second Closing has occurred.

     


    
      
         

      

      
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    (e) Notwithstanding
      any other provision of this Agreement, if at any time Escrow Agent shall receive
      from the Company and the Investors (prior to being directed to take action
      by a
      court) joint written instructions as to the delivery of the Escrow Deposit
      or
      any portion thereof, Escrow Agent shall deliver the Escrow Deposit in accordance
      with such joint written instructions.

     

    (f) All
      interest accrued on the Escrow Deposit shall be released to the Investors (pro
      rated based upon the amounts that were deposited by each Investor with the
      Escrow Agent) regardless of whether the Escrow Deposit itself has been released
      in accordance with Exhibit
      A
      or
Exhibit
      B
      or to
      the Investors in accordance with the other provisions of this Section
      2.

     

    3. Exclusivity.
      The
      Company and Mr. Lin agree that, for a period commencing on the date of execution
      of this Agreement and ending on the date that the Escrow Deposit is fully
      disbursed in accordance with this Agreement (the “Exclusivity Period”), the
      Company and Mr. Lin shall not, and shall cause their respective employees,
      affiliates, directors, or representatives not to, directly or indirectly,
      provide information regarding the Company to, or initiate, negotiate, or hold
      any discussions or enter into any understanding or agreement with, any party
      other than the Investors with respect to any Competitive Transaction (as defined
      below). To the extent such discussions or negotiations are on-going, they will
      be terminated immediately. In addition, the Company and Mr. Lin agree to
      immediately communicate to the Investors the terms of any proposal relating
      to a
      Competitive Transaction received by the Company or the employees, directors,
      or
      representatives of the Company during the Exclusivity Period. For purposes
      of
      this Agreement, a “Competitive Transaction” is a transaction involving, directly
      or indirectly, (i) the offer and/or sale of securities of the Company to any
      Person regardless of whether such securities are equity securities, debt
      securities or convertible or derivative securities, (ii) any transaction
      involving any loan of money or other property to the Company by any Person
      regardless of the structure of any such loan and including transactions such
      as
      capitalized leases and similar transactions, (iii) the acquisition of the
      Company or of all or any material portion of the assets of, or of any of the
      stock in, the Company regardless of the structure of any such acquisition,
      or
      the authorization of any advisors of the Company to take any action for the
      purposes of advancing any such acquisition with any party other than the
      Purchaser, or (ii) the taking any other action that is inconsistent with the
      implementation of this Agreement and the existing term sheet entered delivered
      to the Parties.

     

    4. Interpleader.
      The
      Escrow Agent may at any time commence an action in the nature of interpleader
      or
      other legal proceedings and may deposit the Escrow Deposit with the clerk of
      the
      court. In the event of any dispute regarding who is entitled to the Escrow
      Deposit at any time, the Escrow Agent may determine not to release the Escrow
      Deposit to either any Investor or the Company and may commence an interpleader
      action as aforesaid or may cause the Escrow Deposit to be deposited with a
      court
      of competent jurisdiction whereupon it shall cease to have any further
      obligation hereunder. Upon any delivery or deposit of the Escrow Deposit as
      provided in this Section 4, the Escrow Agent shall be released and discharged
      from any further obligation under this Agreement.

     


    
      
         

      

      
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    5. Concerning
      the Escrow Agent

     

    (a) The
      Escrow Agent shall not have any liability to any of the parties to this
      Agreement or to any third party arising out of its services as Escrow Agent
      under this Agreement, except for damages directly resulting from the Escrow
      Agent's gross negligence or willful misconduct. 

     

    (b) The
      Company and the Investors jointly and severally shall indemnify the Escrow
      Agent
      and hold it harmless against any loss, liability, damage or expense (including
      reasonable attorneys' fees) that the Escrow Agent may incur as a result of
      acting as escrow agent under this Agreement, except for any loss, liability,
      damage or expense arising from its own gross negligence or willful misconduct.
      As between the Company and the Investors, such obligations shall be borne
      equally by the Company and the Investors. For this purpose, the term "attorneys'
      fees" includes fees payable to any counsel retained by the Escrow Agent in
      connection with its services under this Agreement and, with respect to any
      matter arising under this Agreement as to which the Escrow Agent performs legal
      services, if and to the extent that the Escrow Agent itself is a law firm,
      its
      standard hourly rates and charges then in effect.

     

    (c) The
      Escrow Agent shall be entitled to rely upon any judgment, notice, instrument
      or
      other writing delivered to it under this Agreement without being required to
      determine the authenticity of, or the correctness of any fact stated in, that
      document and irrespective of any facts the Escrow Agent may know or be deemed
      to
      know in any other capacity. The Escrow Agent may act in reliance upon any
      instrument or signature believed by it to be genuine and may assume that any
      person purporting to give any notice or receipt or advice or make any statement
      or execute any document in connection with this Agreement has been duly
      authorized to do so.

     

    (d) The
      Escrow Agent shall have no duties or responsibilities except those expressly
      set
      forth in this Agreement. The Escrow Agent shall not have any obligations arising
      out of or be bound by the provisions of any other agreement, written or oral,
      including, but not limited to, the Stock Purchase Agreement.

     

    (e) All
      of
      the Escrow Agent's rights of indemnification provided for in this Agreement
      shall survive the resignation of the Escrow Agent, its replacement by a
      successor Escrow Agent, its delivery or deposit of the Escrow Deposit in
      accordance with this Agreement, the termination of this Agreement, and any
      other
      event that occurs after this date.

     

    (f) The
      Escrow Agent shall have no responsibility with respect to the sufficiency of
      the
      arrangements contemplated by this Agreement to accomplish the intentions of
      the
      Parties.

     

    6. Representations.

     

    Each
      Investor and the Company each represents and warrants to the Escrow Agent that
      each has full power and authority to enter into and perform this Agreement;
      that
      this Agreement was duly authorized by all necessary corporate or other action;
      and that this Agreement is enforceable against each Party in accordance with
      its
      terms. 


    
      
         

      

      
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    7. Resignation;
      Successor Escrow Agent.

     

    The
      Escrow Agent (and any successor escrow agent) may at any time resign as such
      upon 30 days prior notice to each of the other Parties. Upon receipt of a notice
      of resignation, each of the other Parties shall use their best efforts to select
      a successor agent within 15 days, but if within that 15 day period the Escrow
      Agent has not received a notice signed by both of them appointing a successor
      escrow agent and setting forth its name and address, the Escrow Agent may (but
      shall not be obligated to) select on their behalf a bank or trust company to
      act
      as successor escrow agent, for such compensation as that bank or trust company
      customarily charges and on such terms and conditions not inconsistent with
      this
      Agreement as that bank or trust company reasonably requires. The fees and
      charges of any successor escrow agent shall be payable out of the Purchase
      Price. A successor escrow agent selected by the resigning Escrow Agent may
      become the Escrow Agent by confirming in writing its acceptance of the position.
      The Investors and the Company shall sign such other documents as the successor
      escrow agent reasonably requests in connection with its
      appointment.

    


    8. Notices.

     

    All
      notices, instructions, objections or other communications under this Agreement
      shall be in writing and shall be deemed given when sent by United States
      registered mail, return receipt requested, to the respective Parties at the
      addresses specified on the signature page hereto.

    


    9. Miscellaneous.

     

    (a) The
      Company and the Investors shall jointly and severally pay to the Escrow Agent
      on
      demand, all costs and expenses,
      including,
      without limitation, the costs of any interpleader or similar action, incurred
      by
      the Escrow Agent in performing its services under this Agreement.
      As
      between the Company and the Investors, such obligations shall be borne equally
      by the Company and the Investors.

     

    (b) If
      any
      provision of this Agreement is determined by any court of competent jurisdiction
      to be invalid or unenforceable in any jurisdiction the remaining provisions
      of
      this Agreement shall not be affected thereby, and the invalidity or
      unenforceability in any jurisdiction shall not invalidate or render
      unenforceable that provision in any other jurisdiction. It is understood,
      however, that the parties intend each provision of this Agreement to be valid
      and enforceable and each of them waives all rights to object to any provision
      of
      this Agreement.

     

    (c) This
      Agreement shall be binding upon and inure solely to the benefit of the parties
      and their respective successors and permitted assigns, and shall not be
      enforceable by or inure to the benefit of any third party. No party may assign
      its rights or obligations under this Agreement or any interest in the Escrow
      Deposit without the written consent of the other parties unless otherwise
      specified herein, and any other purported assignment shall be void. In no event
      shall the Escrow Agent be required to act upon, or be bound by, any notice,
      instruction, objection or other communication given by a person other than,
      nor
      shall the Escrow Agent be required to deliver the Escrow Deposit to any person
      other than, the Company or the Investors.

     


    
      
         

      

      
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    (d) This
      Agreement shall be governed by and construed in accordance with the law of
      the
      State of New York applicable to agreements made and to be performed in New
      York.

     

    (e) The
      courts of New York State and the United States District Courts for New York
      shall have exclusive jurisdiction over the parties (and the subject matter)
      with
      respect to any dispute or controversy arising under or in connection with this
      Agreement. A summons or complaint or other process in any such action or
      proceeding served by mail in accordance with the notice provisions of this
      Agreement or in such other manner as may be permitted by law shall be valid
      and
      sufficient service.

     

    (f) This
      Agreement contains a complete statement of all of the arrangements among the
      Parties with respect to its subject matter and cannot be changed or terminated
      orally. Any waiver must be in writing.

     

    (g) This
      Agreement may be executed in any number of counterparts, each of which shall
      be
      deemed to be an original and all of which taken together shall constitute one
      and the same instrument. Facsimile execution and delivery of this Agreement
      is
      legal, valid and binding for all purposes.

     

    (h) The
      section headings used herein are for convenience of reference only and shall
      not
      affect the construction or interpretation of this Agreement.

     

    [Signature
      Page Follows]

     


    
      
         

      

      
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    IN
      WITNESS WHEREOF, the respective parties have executed this Agreement as of
      the
      date first above written.

     

    
      	 	 	 
	 	
               

            	 
	 	 	 
	 	
              By:

            	
            
	 	
               

            	
              Name:

            
	 	
               

            	
              Title:

            
	 	 	 
	 	
              Address:

            
	 	 
	 	 
	 	
              Fax:

            	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	 	 
	 	
              By:

            	 
	 	
               

            	
              Name:

            
	 	
               

            	
              Title:

            
	 	 	 
	 	
              Address:

            
	 	 
	 	 
	 	
              Fax:

            	 
	 	 	 
	 	
              IRISH
                MAG, INC.

            
	 	 	 
	 	
              By:
                

            	
               

            
	 	
               

            	
              
                Name:

              

            
	 	 	
              Title:

            
	 	 	 
	 	
              Address:

            
	 	 
	 	 
	 	
              Fax:

            	 


    

    


     

    


    


    


    


    


    



    
      
         

      

      
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              THELEN
                REID BROWN RAYSMAN & 

            
	 	
              STEINER
                LLP

            
	 	 
	 	
              By:
                /s/
                Louis A. Bevilacqua

            
	 	
              Louis
                A. Bevilacqua

            
	 	
              Partner

            
	 	 
	 	
              Address:
                

            
	 	
              701
                Eighth Street, NW

            
	 	
              Washington,
                DC 20001

            
	
               

            	
              
                Fax: 
                  202-654-1804

              

            
	 	 
	 	 
	 	
              /s/
                Jiang Huai Lin

            
	 	
              MR.
                LIN

            
	 	 
	 	
              Address:
                

            
	 	 
	
               

            	
              Unit
                D, Block 2, Tian An Cyber Park

            
	
               

            	
              Chengongmiao,
                Shenzhen, Guangdong, 518040

            
	
               

            	
              People’s
                Republic of China

            


    


    
      
         

      

      
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    EXHIBIT
      A

    CLOSING
      FLOW OF FUNDS

    


    


    


    



    
      
         

      

      
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    EXHIBIT
      B

    SECOND
      CLOSING FLOW OF FUNDS

    


    


    


    


    
      
         

      

      
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