----

----

----

| 1. | GREAT EAST PACKAGING      INTERNATIONAL LIMITED, a company incorporated under the laws of the      British Virgin Islands whose registered office is situate at P.O. Box      3140, Road Town, Tortola, British Virgin Islands (the “Grantor”);      and |
|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2. | GREAT EAST PACKAGING HOLDINGS      LIMITED, a company incorporated under the laws of the British      Virgin Islands whose registered office is situate at P.O. Box 3140, Road      Town, Tortola, British Virgin Islands (the “Grantee”) |
|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (A) | The      Grantor is a private company limited by shares incorporated under the laws      of the British Virgin Islands. As at the date hereof, the Grantor has an      authorized share capital of US$10,000,000.00 divided into 10,000,000.00      shares with no par value with one vote for each share, of which 6,425,846      shares have been issued and are fully paidup. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | The      Grantor is desirous of granting the Grantee an option to subscribe the      Option Shares (as defined herein below) from the Grantor, on the terms and      subject to the conditions herein. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| “Encumbrances” | :  | means      any lien, charge, pledge, third party interest or other security or      encumbrance created;                                                                                                                                                    |
|----------------------------|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| “GEPI”         | :       | means      Great East Packaging International Limited, a company incorporated in the      British Virgin Islands whose registered office is situate at P.O. Box 957,      Offshore Incorporations Centre, Road Town, Tortola, British Virgin      Islands;  |

----

| “Option”                       | :      | means      an option to subscribe from the Grantor the Option Shares at the Option      Price to be granted by the Grantor to the Grantee under this      Agreement;                                                |
|--------------------------------------------|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| “Option      Completion”  | :      | means      completion of issue and allotment of the Option Shares from the Grantor to      the Grantee pursuant to Clause 4;                                                                                        |
| “Option      Notice”           | :      | means      14 days’ notice in writing given by the Grantee to the Grantor in      exercising the Grantee’s option right to subscribe the Option Shares      hereunder in the form set out in Schedule;  |
| Option      Period                         | :      | means      the period commencing on 1 January 2010 and ending on 31 December 2012 and      any other time to be agreed between the Grantor and the      Grantee;                                                    |
| “Option      Price”       | :      | means      the consideration of US$1 payable by the      Grantee to the Grantor upon exercise of the Option pursuant to Clause 2;      and                                                                          |
| “Option      Shares”           | :      | means      the 9,638,769 ordinary shares of GEPI to be issued and allotted to the      Grantee .                                                                                                                         |
|                                       |   |                                                                                                                                                                                                                     |

| 1.3 | References      herein to Clauses, Appendices and Schedules are to clauses in, appendices      to and schedules to this Agreement unless the context requires otherwise      and the Appendices and Schedules to this Agreement shall be deemed to form      part of this Agreement. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.4 | The      expressions the “Grantor” and the “Grantee” shall, where the context      permits, include their respective successors, personal representatives and      permitted assigns. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.5 | The      headings are inserted for convenience only and shall not affect the      construction of this Agreement. |
|-----|-------------------------------------------------------------------------------------------------------------------|

| 1.6 | Unless      the context requires otherwise: |
|-----|---------------------------------------------|

|   | (a) | words      and expressions importing the singular include the plural and vice      versa; |
|--------|-----|-------------------------------------------------------------------------------------------|

|   | (b) | words      and expressions importing natural persons include corporations and      un-incorporated associations and viceversa; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------|

----

|   | (c) | words      and expressions importing the masculine gender shall include the feminine      and neuter gender and vice versa. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------|

| 1.7 | Words      and expressions defined in the body of this Agreement (including its      schedules) shall have the meanings thereby attributed to them whenever the      context requires. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.  | Granting of Option to      Subscribe |
|----------|--------------------------------------|

| 2.1 | In      consideration of the Grantee the sum of US$1 paid by the Grantee      (receipt of which is acknowledged by the Grantor), the Grantor hereby      agree to grant the Grantee an option whereby the Grantee shall have an      option to subscribe the Option Shares in the capital of the Grantor from      the Grantor subject to the terms and conditions of this      Agreement. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.2 | Subject      to the terms and conditions of this Agreement, it is agreed that the      option granted herein by the Grantor to the Grantee is freely assignable      and transferable without anyrestrictions. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. |  Exercise      of the Option right by theGrantee |
|----|-------------------------------------------------------|

| 3.1 | This      Option shall be exercisable at any time during the Option Period by giving      at least 14      days’ Option Notice by the Grantee to the Grantor of his intention      to exercise the Option. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.2 | Upon      exercise of the Option right by the Grantee in the manner as mentioned in      Clause 3.1, the      Grantor shall, upon receipt of the aforesaid notice from the Grantee,      forthwith issue      and allot free from Encumbrances the Option Shares to the Grantee at the      agreed consideration of the Option Price and completion shall take place      upon expiration of the OptionNotice. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3.3 | For      avoidance of doubt, if the Grantee shall fail to exercise the Option      during the Option Period, the Option shall be deemed to be ceased and      lapsed absolutely. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Option Completion |
|----|-------------------|

| 4.1 | Location:  Subject      as herein provided, Option Completion shall take place at 203 Hankow      Centre, 5-15 Hankow Road, Tsimshatsui, Kowloon, Hong  Kong. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.2 | Date for Option      Completion: The date for Option Completion shall unless otherwise      agree in writing be the date as specified by the Grantee in the Option      Notice. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.3 | Payment of Option Price:      Upon date for Option Completion, the Grantee shall pay to the Grantor the      Option Price by a cashier’s order or solicitors’ cheque drawn in favour of      the Grantor for the sum of US$1 or its equivalent      Hong Kong Dollars at the date of Option  Completion. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 4.4 | Delivery of      Documents:  Upon payment of the Option Price as      aforesaid, the Grantee shall be entitled to possession of and the Grantor      shall forthwith deliver a set of (un-dated) instrument of transfer and      contract notes in favour of the Grantee (or such person(s) as may be      nominated by the Grantee) in respect of the Option Shares duly executed by      the Grantor accompanied by the relevant original certificate for the      Option Shares. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.6 | No Exercise of the      Option: For avoidance of doubt, if the Grantee fails to exercise      the Option within the Option Period, the Option granted herein shall be      ceased to have any effect and deemed null and void and the Grantee shall      not in such case further claim against the Grantor for any loss or damages      whatsoever and howsoever. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Release      and Indulgence |
|----|-----------------------------|

| 5.1 | Any      liability to any party hereto may in whole or in part be released,      compounded or compromised or time or indulgence given by that party in      that party’s absolute discretion as regards any other party hereto under      such liability without in any way prejudicing or affecting the first      party’s rights against any other party or parties hereto under the same or      a like liability whether joint and several or  otherwise. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | Costs      and Expenses |
|----|-------------------------|

|   | Costs:  The      Grantee shall bear the costs and expenses incurred in the preparation and      execution of this Agreement and other completion documents for Option      Completion. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | Notices |
|----|---------|

| 7.1 | Addresses: All notices,      demands or other communications required or permitted to be given or made      hereunder shall be in writing and delivered personally or sent by prepaid      registered post or telefax addressed to the intended recipient thereof at      his or its address stated hereinabove (or to such other address or telefax      number as any party may from time to time notify the    others). |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.2 | Deemed delivery: Any      such notice, demand or communication sent in accordance with Clause 7.1 shall be      deemed to have been duly served (if given or made by telefax) immediately      or (if given or made by letter) two days after posting and in proving the      same it shall be sufficient to show that the envelope containing the same      was duly addressed, stamped andposted. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | Previous      Agreements |
|----|--------------------------|

| 8.1 | Entire      Agreement:  This Agreement embodies all the terms and      conditions agreed upon between the parties hereto as to the subject matter      of this Agreement and supersedes and cancels in all respects all previous      agreements, arrangements and undertakings, if any, between the parties      with respect to the subject matter hereof, whether such be written or      oral. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 8.2 | Amendments: No amendment      or variation of this Agreement shall be effective unless in writing and      signed by or on behalf of each of theparties. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9. | Remedies |
|----|----------|

| 9.1 | No      remedy conferred by any of the provisions of this Agreement is intended to      be exclusive of any other remedy which is otherwise available at law, in      equity, by statute or otherwise, and each and every other remedy shall be      cumulative and shall be in addition to every other remedy given hereunder      or now or hereafter existing at law, in equity, by statute or otherwise.      The election of any one or more of such remedies by any of the parties      hereto shall not constitute a waiver by such party of the right to pursue      any other available remedies. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.1 | If      any provision of this Agreement or part thereof is rendered void, illegal      or unenforceable by any legislation to which it is subject, it shall be      rendered void, illegal or unenforceable to that extent and no      further. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11. | Governing      Law and Jurisdiction |
|-----|-------------------------------------|

| 11.1 | Governing Law: This      Agreement shall be governed by and construed in accordance with the laws      of Hong Kong. |
|------|----------------------------------------------------------------------------------------------------------------------|

| 11.2 | Jurisdiction: In      relation to any legal action or proceedings arising out of or in      connection with this Agreement, the parties hereto hereby irrevocably      submit to the non-exclusive jurisdiction of the courts of Hong      Kong. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | Exercise of Option in      respect of GREAT EAST PACKAGING INTERNATIONAL    LIMITED |
|--------|-------------------------------------------------------------------------------------|

----

----

----