Executive
      settlement agreement

    


    Applicant:
      Industrial and Commercial Bank of China shanghai pudong branch

    Location:
      2024 pudong south road Pudong district, Shanghai

    


    Enforcee
      1: shanghai wanxing Bio-pharmaceutical Co., Ltd

     

    Enforcee
      2: Beijing wanxing vehicle service Co., Ltd

     

    Enforcee
      3: Beijing Guoan electric general company

     

    Enforcee
      4: shanghai haijiu industrial develop Co., Ltd

     

    Enforcee
      5: Jintian industrial group holding Co., Ltd

     

    Enforcee
      6: shanghai xinguang enterprise develop Co., Ltd

     

    The
      loan
      entanglements between the applicant and shanghai wanxing Bio-pharmaceutical
      Co.,
      Ltd and other Enforcees (case #2005-106, 107, 108, 123 and 149, 2004-466) have
      been ruled to implement by the People’s court of Pudong District (implementation
      case # 6983-6987 and 2005-329). Upon negations among the parties, the following
      agreement has been reached:

     

    
      	1.  	
              As
                of the date signing the settlement agreement, Wanxing still owes
                ICBC the
                loan principles in an amount of RMB 76,411,366.00. Wanxing promised
                that
                starting from Oct. 2006, he shall repay the principle RMB 3million
                each
                month to the applicant until the entire amount loan principles have
                been
                repaid. The repayment date shall 21st
                day of each month. In case of statutory holiday, then move the day
                to the
                following work day.

            


    

    
      	 	 


      	2.  	
              Wanxing
                and other Enforcees shall pay the interest accrued starting from
                Sept. 21,
                2006 from the said principles. The interest rate shall be 10% on
                top of
                the regulated rate issued by People’s Bank of China.
                

            


    

    
      	 	 


      	3.  	
              The
                other accumulated interest shall be settled through separate
                negotiation.

            


    

    
      	 	 


      	4.  	
              In
                case Wanxing and other Enforcees failed in fully repaying the funds
                on
                time in accordance with Clause 1 and 2, the applicant has the rights
                to
                request the people’s court to force implementation of the overdue fund
                including the interest accrued before Sep. 21, 2006
                immediately.

            


    

    
      	 	 


      	5.  	
              Processing
                cost and implementation cost shall be offered by Wanxing and other
                Enforcees.

            


    

    
      	 	 


      	6.  	
              This
                executive settlement agreement will enter into effect right after
                signed
                and stamped by the applicant and Wanxing. The other Enforcees can
                sign or
                stamp to acknowledge the agreement.

            


    

    
      	 	 


      	7.  	
              this
                agreement is in 9 copies. Each party holds one copy, and the people’s
                court holds one copy as well.

            


    

    


    Applicant
      (stamp)

    Enforcee
      (stamp) signature of Zhuang Zhong

    Signature
      of Beijing Guoan—Zhao weiping