|   | (1) | INTERMOST      CORPORATION |
|--------|-----|----------------------------|

|   | (2) | ENTITIES      AND/OR INDIVIDUALS COLLECTIVELY REFERRED TO AS  “INVESTORS” |
|--------|-----|---------------------------------------------------------------------------------------|

| (1) | INTERMOST CORPORATION,      is a company listed on the OTCBB with its office at 31st Floor, B31-23      Guomao Building, Renmin Road (South), Shenzhen, 518001, People’s Republic      of China (“IMOT”); |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Entities      and/or individuals more particularly set out in Schedule 1 herein.      (collectively referred to as “Investors”). |
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| (A) | IMOT      is a company listed on the OTCBB. |
|-----|---------------------------------------------|

| (B) | Chinae.com      Investment Consultant (Shenzhen) Company Limited, Chinae.com Technology      (Shenzhen) Company Limited, Chinae.com E-Commerce Company Limited,      Shenzhen International Hi-Tech Property Right Exchange Center 深圳國際高新技術產權交易所,      Hainan S.E.Z Property Rights Exchange Center 海南經濟特區產權交易中心      and Chinae.com Advertising中貿網視點廣告      (those English company names are translated from their Chinese company      names) are wholly-owned subsidiaries or related companies of IMOT and are      all involved in the business relating to the China Equity Exchange      Platform (www.chinae.com)      with agreed value of US$1.5 million. (“Chinae”).  A      group structure of Chinae is annexed as Annexure  “A”. |
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| (C) | On      5th September 2007, the board of directors of IMOT has resolved to      restructure and to incorporate a new corporation for the purpose of      continuing the business of Chinae and to apply for separate listing on the      OTCBB (“the Resolution”). |
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| (D) | IMOT      and the Investors will incorporate a new company under the laws of British      Virgin Islands with limited liability (the “JV Company”) in      accordance to the terms of a Chinese letter of intent (認購投資意向書)      (“the Letter of      Intent”). |
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| (E) | The      parties hereto wish to enter into this Agreement to provide rights and      duties and further regulate their respective responsibilities towards      management of the business and affairs of the JV  Company. |
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|   | NOW IT IS HEREBY AGREED      as follows: |
|--------|------------------------------------------|

| 1. | INTERPRETATION |
|----|----------------|

| 1.01 | In      this Agreement, unless the context requires otherwise the following      expressions shall have the following meanings:- |
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| “Accounts”           | means      the unaudited balance sheet and operations of Intermost Focus Advertising      Company Ltd, ChinaE.com Information Technology Ltd, ChinaE.com Investment      Consultant (Shenzhen) Ltd, ChinaE.com – SI and ChinaE.com Technology      (Shenzhen) Ltd are as at 30th November 2007, copies annexed as Annexure      “B”;  |
|---------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| “Agreement”               | means      this agreement or as it may from time to time be supplemented or      amended;                                                                                                                                                                                                                                                               |
| “Articles”                | means      the Memorandum and Articles of Association of the JV Company;                                                                                                                                                                                                                                                                                |
| “Board      of Directors” | means      the board of directors of the JV Company;                                                                                                                                                                                                                                                                                                    |
| “Business      Day”       | means      a day on which banks in Hong Kong are open for normal banking business      (excluding Saturdays and Sundays);                                                                                                                                                                                                                               |
| “BVI”                     | means      the British Virgin Islands;                                                                                                                                                                                                                                                                                                                  |
| “Mr.      Deng”           | means      Deng Xiang Xiong (鄧湘雄),      holder of PRC Identity Card No.440301660504561;                                                                                                                                                                                                                                            |
| “Directors”               | means      directors of the JV Company ;                                                                                                                                                                                                                                                                                                                |
| “Hong      Kong”          | means      the Hong Kong Special Administrative Region of the People’s Republic of      China;                                                                                                                                                                                                                                                    |
| “Letter      of Intent”   | means      the Chinese letter of intent認購投資意向書agreed      by the parties herein, copy of which is annexed as Annexure      “C”;                                                                                                                                                            |
| “OTCBB”              | means      Over The Counter Bulletin Board;                                                                                                                                                                                                                                                                                                                  |
| “PRC”                     | means      the People’s Republic of China;                                                                                                                                                                                                                                                                                                        |
| “Resolutions”             | means      the resolutions passed by the board of directors of IMOT on 5th September      2007, copy of which is annexed as Annexure “D”;                                                                                                                                                                                                   |
| “Shareholders”            | means      collectively IMOT and the Investors and/or any person holding any Share      from time to time, and “Shareholder” means any one of them;                                                                                                                                                                                         |

| “Shares”                          | means      the ordinary shares of US$0.01 in the capital of      the JV Company together with all rights      attaching thereto; |
|-----------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|
|                                          |                                                                                                                                       |
| “Shares      Transfer Provisions” | means      the provisions herein relating to the transfer      of Shares;                                                             |
|                                          |                                                                                                                                       |
| “Territories”                     | means      PRC;                                                                                                                            |
|                                          |                                                                                                                                       |
| “US”                              | means      United States of America.                                                                                                       |

| 1.02 | References      to statutory provisions shall be construed as references to those      provisions as amended or re-enacted or as their application is modified by      other provisions (whether before or after the date hereof) from time to      time and shall include any provisions of which they are re-enactments      (whether with or withoutmodification). |
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| 1.03 | References      herein to Clauses and Schedules are to clauses in and schedules to this      Agreement unless the context requires otherwise and the Schedule to this      Agreement shall be deemed to form part of this  Agreement. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 1.04 | The      expressions “IMOT”, the “Investors” and the “JV Company” shall, where the      context permits, include their respective successors and permitted      assigns. |
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| 1.05 | The      headings are inserted for convenience only and shall not affect the      construction of this Agreement. |
|------|-------------------------------------------------------------------------------------------------------------------|

| 1.06 | References      to “persons” shall include bodies corporate, unincorporated associations      and partnerships (whether or not having separate legal      personality). |
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| 1.07 | Unless      the context requires otherwise, words importing the singular include the      plural and vice versa and words importing a gender include every      gender. |
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| 1.08 | A      document expressed to be “in the approved terms”      means a document the terms of which have been approved by or on behalf of      the parties hereto and a copy of which has been signed for the purposes of      identification by or on behalf of the parties  hereto. |
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| 2.01 | Subject      to the terms of the Resolutions and Letter of Intent, IMOT and the      Investors shall promote the JV Company as a joint venture between      them. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.02 | The      JV Company shall continue to carry on the business of Chinae, or such      variation, extension or limitation of those activities as may be made from      time to time in accordance with thisAgreement. |
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| 2.03 | IMOT      undertake and agree to exercise the best endeavours to approve and/or      assist the spin off the Chinae and the listing of the JV Company in      OTCBB. |
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| 2.04 | The      parties expressly agreed that the post-restructure of IMOT will be as set      out in Annexure “A” herein. |
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| 3.01 | The      provisions of this Agreement (other than this clause 3) are conditional      on: |
|------|-------------------------------------------------------------------------------------------|

|   | (a) | the      terms of this Agreement being approved by the board of directors of IMOT      and in compliance with the memorandum and articles of associations of the      JV Company and IMOT; and |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      completion of the incorporation of the JV Company;  and |
|--------|-----|------------------------------------------------------------------|

|   | (c) | the      Accounts represent a true and complete picture of the financial status of      the individual companies and there being no material difference between      the date of the Accounts and atCompletion. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.01 | Within      5 Business Days after the fulfilment or waiver of the conditions set out      in clause 3.01, the parties shall comply with their obligations under      clause 4.03, 4.04 and 4.05. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.02 | Completion      shall take place at such other place or time as the parties may      agree. |
|------|---------------------------------------------------------------------------------------------|

| 4.03 | IMOT      and the Investors shall procure that an extraordinary general meeting of      the JV Company is duly convened and held at which there are proposed and      passed an ordinary resolutions of the JV Company to allot and issue the      Shares referred to in clause 4.04 on the terms referred to      therein. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | JV      Company to allot 60,000,000 Shares to IMOT in return of provision of      assets to the JV Company for cash at par based on the agreed value of      Chinae at US$1.5 million PROVIDED that out of the said 60,000,000 Shares      to be subscribed by IMOT, 11,000,000 Shares shall be stakehold by Messrs.      Yuen & Partners, Solicitors of 10th Floor, Chiyu Bank Building, 78 Des      Voeux Road Central until the intended listing on the OTCBB.  If      the intended listing is unsuccessful, the said 11,000,000 Shares shall be      transferred to the Investors in accordance with clause 4.04      herein; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | JV      Company to allot 40,000,000 Shares to the Investors at the subscription      price of US$0.025 per share; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------|

|   | (c) | The      Investors shall each pay to the JV Company the subscription moneys in      respect of the Shares subscribed for into the following bank      account: |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Beneficiary                 | :      | YUEN      & PARTNERS                         |
|-----------------------------|--------|--------------------------------------------------|
| Bank                        | :      | The      Hongkong & Shanghai Banking         |
|                        |   | Corporation      Limited                         |
| Address                     | :      | Ground      Floor, Tin On Building,              |
|                        |   | 777      Cheung Sha Wan Road, Kowloon, Hong Kong |
| Bank      Account No. (HK$) | :      | 178-252888-001                                   |
| Bank      Swift             | :      | HSBCHKHHHKH                                      |

|   | or      any designated accounts given by the Board of  Directors; |
|--------|-------------------------------------------------------------------|

|   | (d) | IMOT      and the Investors shall each appoint one nominee as a Director and jointly      appoint Mr. Deng as the thirdDirector; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | IMOT      shall transfer the ownership of Chinae to the JV Company with the PRC      lawyer’s assistance and all costs of transfer shall be borne by the JV      Company; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | the      Board shall pass such other resolutions and do such other things as are      necessary in order to comply with the provisions of clause    7. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.05 | If      the listing failed, the new investors shall receive a total of 11,000,000      shares from the JV Company and their total share holding shall be 51%.      However, disposal or movements of the Assets of the JV Company must obtain      two-third of the total shareholders’approval. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | INTENDED LISTING ON      OTCBB |
|----|--------------------------------|

| 5.01 | It      is expressly agreed that IMOT and the Investors intend to list the JV      Company on the OTCBB. |
|------|----------------------------------------------------------------------------------------------------------|

| 5.02 | All      parties agree to appoint Yorkshire Capital Limited as consultant for the      listing and the remuneration shall be agreed in due  course. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------|

| 6. | MANAGEMENT OF THE JV      COMPANY |
|----|-----------------------------------|

| 6.01 | The      Board of Directors shall comprise of no less than 3 Directors. IMOT shall      appoint 2 directors, one of them being Mr. Deng and the Investors shall      appoint 1 director. Those persons shall be appointed as directors of the      JV Company pursuant to theArticles. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.02 | Mr.      Deng shall be appointed as the first Chairman of the Board pursuant to the      Articles until the first AGM of the JVCompany. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------|

| 6.03 | After      the signing of this Agreement, IMOT shall appoint Mr. Deng to be its      representative to handle, negotiate and enter into agreements in relation      to the accounting and legal arrangement in preparation of the intended      listing of the JV Company. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.04 | Meetings      of the Board shall take place at such time or times as may be required but      not in any event at intervals of more than three months calculated from      the date of Completion. Unless otherwise agreed in writing by all the      Directors, at least seven (7) clear Business Days’ notice in writing shall      be given of each meeting of the Board, which notice shall specify in as      great a detail as is practicable the business to be considered at the      meeting. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.05 | The      quorum necessary to constitute a meeting of the Board shall be 2 except      those Reserved Matters set out in Clause7. |
|------|----------------------------------------------------------------------------------------------------------------------------------|

| 6.06 | Save      and except Clause 7.02, any question arising at any meeting of the      Directors shall be decided by all of the Directors (or their alternates)      present or by written resolutions. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.07 | Subject      to Clause 6.08, for efficient and smooth operation of the JV Company, the      Chairman of the Board shall be empowered to handle and authorise the      day-to-day operations of the JV Company, including the payments of rent,      salaries etc PROVIDED that the Chairman of the Board will, upon request,      provide to the Board a detailed account of all such payment authorised by      him. Other major decisions involving large capital investment shall be      resolved by the Board. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.08 | The      JV Company will maintain 2 bank accounts with initial deposit of      US$500,000.00 each from the Investors investment  money: |
|------|-----------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | account      A (open in Hong Kong) will be operated by Mr. Deng and a representative of      IMOT jointly and used for the purpose of listing costs by budget which has      pre approved from the Board ofDirectors. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | account      B (open in PRC) will be operated by Mr. Deng and a representative of the      Investors jointly and used for the purpose of to cover all daily operation      expenses. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | written      consent from the other party shall be required for withdrawal from either      account over and above the respectivelimit. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------|

| 6.09 | The      renumeration of Mr. Deng will be decided by the  Board. |
|------|------------------------------------------------------------------|

| 6.10 | Quarterly      Management Account |
|------|-----------------------------------|

|   | A      quarterly unaudited statements of profit and loss and balance sheets      prepared in accordance with US Acceptable Accounting Standards &      Principals must be submitted to IMOT for review and reporting to public      and in accordance with a format to be delivered to the JV Company from      IMOT. |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.11 | Dividends      paid or to be paid by Shenzhen High-Tech Equity Exchange in 2007 to IMOT      and thereafter shall be distributed in accordance with the shareholdings      of JV Company. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7. | RESERVED      MATTERS |
|----|-----------------------|

| 7.01 | Except      in respect of any matter expressly provided for herein, for the purposes      of this Agreement the following matters are Reserved Matters which      required 3 directors to approve— |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | save      and except in the event of inadequacy of operation expenses, Deng will be      responsible to raise further fund/loan to perform the listing, the      creation or issue of any share or loan capital or any obligation      convertible into share capital or loan capital or increase of authorised      shares of the JV Company must be approved by 3  directors; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      grant of any option of the JVCompany; |
|--------|-----|------------------------------------------------|

|   | (c) | the      consolidation, sub-division or alteration of any rights attached to any      share capital of the JV Company, the purchase by the JV Company of its own      shares, the reduction of its share capital, the capitalisation of any      amount standing to the credit of any reserve of the JV Company or the      reorganisation of any of the share capital of the JV    Company; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | the      incorporation or acquisition of any subsidiary or the subscription for or      the acquisition of any shares or other securities or interest in any      company; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | the      giving of any guarantee or indemnity not in the ordinary course of      business; |
|--------|-----|--------------------------------------------------------------------------------------------|

|   | (f) | the      declaration and/or payment of any dividend otherwise than in accordance      with clause 8; |
|--------|-----|------------------------------------------------------------------------------------------------------|

|   | (g) | the      grant to any person of a right to appoint any director of the JV Company,      the entering into of any agreement for the management of the JV Company or      the incurring of any managementcharges; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (h) | the      appointment or removal of the Auditors (other than the re-appointment of      the first auditors of the JVCompany); |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      changing of any of the accounting principles or conventions of the JV      Company, otherwise than as required by law or in order to comply with any      applicable statement of standard accounting practice or Financial      Reporting Standard; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (j) | the      alteration of any provision of the Memorandum or Articles or the passing      of any resolution inconsistent with any such  provision; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | the      provision of any credit or making of a loan or advance for any person      other than in the normal course of theBusiness; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------|

|   | (1) | any      material variation, extension or limitation of the nature or scope of the      Business; |
|--------|-----|---------------------------------------------------------------------------------------------------|

|   | (m) | the      commencement or defence of any legal proceedings or arbitration, other      than routine debt collection; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------|

|   | (n) | the      purchase, lease or acquisition of any site or building for use in the      Business and/or any immovable property which is substantial in relation to      the JV Company or the acquisition of any other  business; |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (o) | the      sale, lease, transfer, mortgage, charge, pledge or other disposition of      the whole or a substantial part of the JV Company’s undertaking or any      material asset of the JV Company or any agreement to effect any of the      foregoing; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (p) | any      transaction between the JV Company and any Shareholder (or any Member of      its Group) otherwise than on arm’s lengthterms; |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------|

|   | (q) | the      presentation of any petition or passing of any resolution for the JV      Company to be put into administration or to be wound up;    and |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (r) | the      borrowing of any money or giving of any guarantee, indemnity or      security. |
|--------|-----|-----------------------------------------------------------------------------------------|

| 7.02 | All      matters will be conducted in accordance to the provisions of the      memorandum and articles of associations of the JV Company including but      not limited to 2 matters, 2 directors’ approval is      sufficient:- |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | In      case of insufficient operation expense i.e. available cash bank balance      below US$200,000.00, Deng can raise further fund from Investors or other      investor to perform the listing but the said subscribed price cannot be      lower than US$0.025 per Share. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | Placement      to any investors with placement price not less than US$0.025 per      Share. |
|--------|------|---------------------------------------------------------------------------------------------|

| 7.03 | Notwithstanding      anything to the contrary in this Agreement or the provisions of the      memorandum and articles of associations of the JV Company, should there be      any matters in Clauses 7.01 and 7.02 related to the creation, issue or      subscription of any Shares, the price of the Share cannot be set below US      $0.025 per share. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8. | DIVIDENDS |
|----|-----------|

| 9. | TRANSFER OF      SHARES |
|----|-------------------------|

| 9.01 | All      parties are hereby agreed that upon the JV Company listing in OTCBB, all      Shares belonged to IMOT will be distributed to IMOT shareholders on a pro      rata basis. Details of distribution will be approved by both Board and      board of directors of IMOT. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.02 | Subject      to Clause 9.01 and before listing in OTCBB, no Shareholder shall sell,      transfer, mortgage, charge, encumber or otherwise dispose of any Share or      any interest therein except in accordance with the provisions of this      Clause 9. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.03 | Subject      to Clause 9.01 and before listing in OTCBB, a Shareholder may transfer its      Shares to any other person providedthat— |
|------|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | the      transfer is made in accordance with the Clause  9; |
|--------|-----|-------------------------------------------------------------|

|   | (b) | except      in the case of a transfer from one Shareholder to another, the proposed      transferee has agreed in writing with the other parties to this Agreement      to assume all future obligations of the transferor, and otherwise to be      bound by all the applicable provisions thereof, as if it were a party      thereto; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | the      transferee has agreed in writing with the other parties to this Agreement      to be bound by all the provisions of this Agreement;  and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | any      necessary consent has been obtained for the  transfer. |
|--------|-----|-----------------------------------------------------------------|

| 9.04 | Subject      to Clause 9.01 and before listing in OTCBB, the Shareholders shall procure      that the Directors approve for registration any transfer of Shares which      complies with the provisions of this Clause 9, and decline to approve for      registration any other transfer ofShares. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.05 | Upon      any Shareholder ceasing to hold any Shares, subject to compliance with the      provisions of clause 9.03— |
|------|----------------------------------------------------------------------------------------------------------------------------|

|   | (a) | all      future obligations of that Shareholder shall cease;  and |
|--------|-----|-------------------------------------------------------------------|

|   | (b) | the      Shareholders and the JV Company shall use their best endeavours to procure      the   termination, in relation to any future obligation      thereunder, of any guarantee given to a third party for the benefit of the      JV Company by that Shareholder. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.01 | For      the purposes of this Agreement “Restricted Information” means, in relation      to each party to this Agreement (“the Recipient”) any information which is      disclosed to that party by another party (“the Informant”) pursuant to or      in connection with this Agreement, whether orally or in writing or any      other medium, and whether or not the information is expressly stated to be      confidential or marked as such. |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.02 | The      Recipient undertakes with the Informant that, except as provided by clause      10.03 or as authorised in writing by the Informant, it shall, at all times      during the continuance of this Agreement and within one year after its      termination— |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | use      its best endeavours to keep confidential all Restricted      Information; |
|--------|-----|------------------------------------------------------------------------------------|

|   | (b) | not      disclose any Restricted Information to any other  person; |
|--------|-----|--------------------------------------------------------------------|

|   | (c) | not      use any Restricted Information for any purpose otherwise than as      contemplated by and subject to the terms of this  Agreement; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | not      make any copies of, record in any way or part with possession of any      Restricted Information; and |
|--------|-----|----------------------------------------------------------------------------------------------------------------|

|   | (e) | ensure      that none of its directors, officers, employees, agents or advisers does      any act which, if done by that party, would be a breach of the provisions      of (a), (b), (c) or (d) above. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.03 | The      Recipient may— |
|-------|-------------------------------|

|   | (a) | disclose      any Restricted Information to— |
|--------|-----|----------------------------------------------------|

|   | (i) | any      sub-contractor, supplier or licensee of the  Recipient; |
|--------|-----|------------------------------------------------------------------|

|   | (ii) | any      bona fide transferee of the Recipient’sShares; |
|--------|------|---------------------------------------------------------------|

|   | (iii) | any      governmental or other authority or regulatory body;  or |
|--------|-------|------------------------------------------------------------------|

|   | (iv) | any      employees of that party or any of the aforementioned    persons; |
|--------|------|---------------------------------------------------------------------------|

|   | (b) | use      any Restricted Information for any purpose, or disclose it to any other      person, to the extent only that— |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------|

|   | (i) | the      Recipient can demonstrate from its written records that it was known to      the Recipient at the time when it was disclosed by the      Informant; |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | after      being disclosed by the Informant it is disclosed to the Recipient by any      other person otherwise than in breach of any obligation of confidentiality      owed to the Informant; or |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | it      is at the date of this Agreement, or at any time after that date becomes,      public knowledge through no fault of the Recipient, provided that in doing      so the Recipient does not disclose any part of that Restricted Information      which is not public knowledge. |
|--------|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.04 | The      provisions of this clause 10 shall continue in force in accordance with      their terms, notwithstanding the termination of this Agreement for any      reason. |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11. | FORCE      MAJEURE |
|-----|--------------------|

| 11.01 | For      the purposes of this Agreement “Force Majeure” means any circumstances      beyond the reasonable control of either party (including, without      limitation, any strike, lock-out or other form of industrial      action). |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.02 | If      any party is unable to comply with any of its obligations under this      Agreement because of Force Majeure it shall forthwith notify the other      parties of the nature and extent of the Force  Majeure. |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.03 | No      party shall be deemed to be in breach of this Agreement, or otherwise be      liable to any other party, by reason of any delay in performance, or the      non-performance, of any of its obligations hereunder, to the extent that      the delay or non-performance is due to any Force Majeure of which it has      notified the other parties, and the time for performance of that      obligation shall be extendedaccordingly. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 11.04 | If      the performance by any party of any of its obligations under this      Agreement is affected by Force Majeure for a continuous period in excess      of 6 months, [the parties shall enter into bona fide discussions with a      view to alleviating its effects, or to agreeing upon such alternative      arrangements as may be fair and reasonable] [any of the other parties      shall be entitled to terminate this Agreement by giving written notice to      the other parties]. |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | DURATION AND      TERMINATION |
|-----|-------------------------------|

| 12.01 | Subject      as provided in the following provisions of this clause, this Agreement      shall continue in force for a period of one year from its date, and shall      terminate at the end of that period unless at any time before the expiry      of that period the parties agreethat |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 13. | EFFECTS OF      TERMINATION |
|-----|-----------------------------|

| 13.01 | Upon      the termination of this Agreement for any  reason— |
|-------|--------------------------------------------------------------------|

|   | (a) | any      provision of this Agreement which is expressed to continue in force after      termination shall continue in full force and effect;  and |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | subject      as provided in this clause 13, and except in respect of any accrued      rights, the parties shall not be under any further obligation to each      other. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14. | NATURE OF      AGREEMENT |
|-----|--------------------------|

| 14.01 | Subject      as contemplated by clause 14.02, this Agreement is personal to the parties      and none of them may assign, mortgage, charge (otherwise than by floating      charge) or sub-licence any of its rights hereunder, or sub-contract or      otherwise delegate any of its obligations hereunder, except with the      written consent of the otherparties. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.02 | Nothing      in this Agreement shall create, or be deemed to create, a partnership, or      the relationship of principal and agent, between the parties or any of      them. |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.03 | This      Agreement contains the entire agreement between the parties with respect      to its subject matter and may not be modified except by an instrument in      writing signed by the duly authorised representatives of the      parties. |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.04 | Each      party acknowledges that, in entering into this Agreement, it does not do      so in consideration of or in reliance on any representation, warranty or      other provision except as expressly provided in this Agreement, and all      conditions, warranties or other terms implied by statute or common law are      excluded to the fullest extent permitted bylaw. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.05 | If      any provision of this Agreement is held by any court or other competent      authority to be invalid or unenforceable in whole or in part, this      Agreement shall continue to be valid as to its other provisions and the      remainder of the affectedprovision. |
|-------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.06 | No      failure or delay by any party in exercising any of its rights under this      Agreement shall be deemed to be a waiver thereof and no waiver of a breach      of any provision of this Agreement shall be deemed to be a waiver of any      subsequent breach of the same or any other  provision. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.07 | Where      any provision of this Agreement applies expressly or by implication to the      JV Company, the Shareholders shall procure that the JV Company complies      with that provision. |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15. | ARBITRATION |
|-----|-------------|

| 15.1 | Any      dispute, difference or disagreement arising out of or in connection with      this Agreement may (subject to Clause 15.2) be referred by either party to      the arbitration of a single arbitrator appointed by agreement between the      parties or, in default of agreement between the parties within 30 days of      a request in writing for a reference to arbitration, appointed by the      President of The Law Society on the application of either      party. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 15.2 | Prior      to any dispute, difference or disagreement being referred to expert      determination or arbitration pursuant to Clause 15.1, as the case may be,      the parties shall seek to resolve the matter as  follows— |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (a) | in      the first instance the matter shall be considered by all parties; but if      they are not able to resolve the matter within 30 days (and it is expected      that this will only be the case on rare occasions in extreme      circumstances), then; |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | the      matter shall be referred for consideration by the chief executive of each      party; but if they are not able to resolve the matter within a further 30      days, then the provisions of clause 15.1 shall take  effect. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16. | NOTICES |
|-----|---------|

| 16.01 | Any      notice, claim, demand, court process, document or other communication to      be given under this Agreement (collectively “communication” in this Clause)      shall be in writing in the English language and must be served or given      personally or sent to the facsimile numbers (if any) of the relevant party      and marked for the attention and/or copied to such other person as      specified in Clause 16.03. |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.02 | Except      as otherwise provided herein, all communications shall be served by the      following means and the addressee of a communication shall be deemed to      have received the same within the time stated adjacent to the relevant      means of despatch: |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Means of      dispatch  | Time of deemed      receipt                                                               |
|------------------------------|------------------------------------------------------------------------------------------------|
| Personal      delivery       | Upon      delivery                                                                             |
| Local      mail or courier   | 1      Business Day after posting                                                              |
| Facsimile                    | on      despatch during normal business hour with confirmation of successful      transmission |
| Air      courier/Speedpost   | 3      Business Days                                                                           |
| Airmail                      | 5      Business Days                                                                           |

| 16.03 | The      initial addresses and facsimile numbers of the parties for the service of      communications, the person for whose attention such communications are to      be marked and the person to whom a communication is to be copied are as      follows: |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | Address: | 31st      Floor, B31-23 Guomao Building, Renmin Road (South), Shenzhen, 518001,      People’s Republic of China. |
|--------|----------|------------------------------------------------------------------------------------------------------------------------|

|   | Facsimile      no.: | 86-755-8221      0133 |
|--------|---------------------|-----------------------|

| 17. | MISCELLANEOUS |
|-----|---------------|

| 17.01 | Each      party shall from time to time (both during the continuance of this      Agreement and after its termination) do all such acts and execute all such      documents as may be reasonably necessary in order to give effect to the      provisions of this Agreement. |
|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.02 | All      parties hereby agree that all costs of and incidental to the preparation,      execution and implementation of this Agreement shall be borne by the JV      Company notwithstanding the JV Company is not a party to this      Agreement. |
|-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.03 | Except      as required by law or the requirements of any relevant stock exchange, no      party shall make any press or other public announcement concerning any      aspect of this Agreement without first obtaining the agreement of the      other parties to the text of thatannouncement. |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.04 | Should      there be any conflict between this Agreement and the Memorandum and      Articles of Association of the JV Company, this Agreement      prevails. |
|-------|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18. | PROPER      LAW |
|-----|-----------------|

| 18.01 | This Agreement shall be      governed by and construed in accordance with Hong Kong  law. |
|-------|-------------------------------------------------------------------------------------------|

| 18.02 | The      courts of Hong Kong are to have non-exclusive jurisdiction to settle any      disputes which may arise out of or in connection with this Agreement and      accordingly any legal action or proceedings arising out of or in      connection with this Agreement (“Proceedings”) may be      brought in such courts. Each of the parties hereto irrevocably submits to      the jurisdiction of such courts in connection with legal proceedings      against one another to enforce the provisions of the Agreement (but not      with respect to any proceedings brought by a third party) and waives any      objections to Proceedings in |
|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| No. | Name                                           | ID      No.                    | Address                                                                                                                                                                   | Fascimile      No. |
|-----|------------------------------------------------|--------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------|
| 1   | 方明东(Fang      Mingdong)   | PRC      ID 440528195906051831 | 深圳市福田中心区华融大厦2802A,邮编:518000                               |               |
| 2   | 方锦奎(Fang      Jinkui)     | PRC      ID 440301195112104419 | 深圳市福田区华强北路长泰花园B栋24H,邮编:518028        |               |
| 3   | 郭兰成(Guo      Lancheng)    | PRC      ID 440524196808124653 | 深圳市福田区中航路都会电子城1C      033柜,邮编:518028 |               |
| 4   | 庄衡衡(Zhuang      Hengheng) | PRC      ID 440301196411244424 | 深圳市福田区福华三路星河国际花园C2栋9D                              |               |
| 5   | 潘晓霖(Pan      Xiaolin)     | PRC      ID 440104601121536    | 深圳市福田区八卦一路盛世鹏程6栋8A                                               |               |
| 6   | 邓湘娟(Deng      Xiangjuan)  | PRC      ID 440804196303252028 | 深圳市宝安国际机场航油大厦二楼                                                  |               |
| 7   | 李小秋(Lee      Siu Chow)    | HKID      C246879(2)           | 香港新界青衣清心街蓝田村29号地下                                                |               |
| 8   | 韩毅(Hon      Ngai)                | HKID      D160145(9)           | 香港新界荃湾青山公路633号湾景花园5座21楼D室                   |               |
| 9   | 张艳(Cheung      Yim)              | HKID      P581836(6)           | 香港九龙海庭道18号帝柏海湾2座252楼A室                                           |               |
| 10  | 吴雁(Wu      Yan)                  | HKID      P999681(1)           | 深圳市罗湖区东乐花园32栋1单元1A                                                             |               |

| SIGNED      by                   | )       |                      |
|----------------------------------|---------|---------------------------|
|                             | )       | /s/      Rocky Wulianghai |
| for      and on behalf of IMOT   | )       |                      |
| in      the presence of :-  | )  |                      |

| SIGNED      by 方明东      (Fang Mingdong), | )      |
|--------------------------------------------------------------------|--------|
| holder      of PRC ID 44052819506051831                            | )      |
| in      the presence of :-                                         | )      |
|                                                               |   |
| /s/      Fang Mingdong                                             |   |
|                                                               |   |
|                                                               |   |
| SIGNED      by 方锦奎 (Fang      Jinkui),        | )      |
| holder      of PRC ID 440301195112104419                           | )      |
| in      the presence of :-                                         | )      |
|                                                               |   |
| /s/      Fang Jinkui                                               |   |
|                                                               |   |
|                                                               |   |
| SIGNED      by 郭兰成 (Guo      Lancheng),       | )      |
| holder      of PRC ID 440524196808124653                           | )      |
| in      the presence of :-                                         | )      |
|                                                               |   |
| /s/      Guo Lancheng                                              |   |
|                                                               |   |
|                                                               |   |
| SIGNED      by (CHINESE CHARACTERS) (Tin Suisang),                 | )      |
| holder      of HKID P418072(4)                                     | )      |
| in      the presence of :-                                         | )      |
|                                                               |   |
|                                                               |   |

| SIGNED      by 庄衡衡      (Zhuang Hengheng),    | )      |
|--------------------------------------------------------------------|--------|
| holder      of PRC ID 440301196411244424                           | )      |
| in      the presence of :-                                         | )      |
|                                                               |   |
| /s/      Zhuang Hengheng                                           |   |
|                                                               |   |
|                                                               |   |
| SIGNED      by潘晓霖 (Pan      Xiaolin),    | )      |
| holder      of PRC ID 440104601121536                              | )      |
| in      the presence of :-                                         | )      |
|                                                               |   |
| /s/      Pan Xiaolin                                               |   |
|                                                               |   |
|                                                               |   |
| SIGNED      by邓湘娟 (Deng      Xiangjuan), | )      |
| holder      of PRC ID 440804196303252028                           | )      |
| in      the presence of :-                                         | )      |
|                                                               |   |
| /s/      Deng Xiangjuan                                            |   |

| SIGNED      by李小秋 (Lee      Siu Chow), | )      |
|-------------------------------------------------------------|--------|
| holder      of HKID C246879(2)                              | )      |
| in      the presence of:-                                   | )      |
|                                                        |   |
| /s/      Lee Siu Chow                                       |   |
|                                                        |   |
|                                                        |   |
| SIGNED      by 韓毅 (Hon      Ngai),       | )      |
| holder      of HKID D160145(9)                              | )      |
| in      the presence of:-                                   | )      |
|                                                        |   |
| /s/      Hon Ngai                                           |   |
|                                                        |   |
|                                                        |   |
| SIGNED      by 張艷 (Cheung      Yim),     | )      |
| holder      of HKID P581836(6)                              | )      |
| in      the presence of:-                                   | )      |
|                                                        |   |
| /s/      Chueng Yim                                         |   |
|                                                        |   |
|                                                        |   |
| SIGNED      by 吳雁 (Wu      Yan),         | )      |
| holder      of HKID P999681(1)                              | )      |
| in      the presence of:-                                   | )      |
|                                                        |   |
| /s/      Wu Yan                                             |   |

|                                               |                                           |                |    |       |     |           |
|----------------------------------------------------|------------------------------------------------|---------------------|---------|------------|----------|----------------|
| Intermost      Focus Advertising Company Ltd       |                                           |                |    |       |     |
| Balance      Sheet and Operations                  |                                           |                |    |       |     |
| 30/11/2007                                         |                                           |                |    |       |     |
| <RMB>                                        |                                           |                |    |       |     |
|                                               |                                           | ShenZhen      Books |    | Adjustment |     | USA      Books |
| ASSETS                                             |                                           |                |    |       |     |
| Current      Assets                                |                                           |                |    |       |     |
|                                               | Cash      & Bank Deposits                  |  -             |    |  -    |     |  -        |
|                                               | Amount      due from group companies           |                |    | 892,423    |     | 892,423        |
|                                               | Prepayment,deposit      & Other receivable | 892,423             |    | -892,423   |     |  -        |
|                                               |                                           | 892,423             |    |       |     | 892,423        |
|                                               |                                           |                |    |       |     |           |
| Total      Assetts                                 | 892,423                                        |                |    |       | 892,423  |
|                                               |                                           |                |    |       |     |           |
| Liabilities and      Shareholder's Equity          |                                           |                |    |       |     |
|                                               |                                           |                |    |       |     |           |
| Shareholder's      Equity                          |                                           |                |    |       |     |
|                                               | Share      Capital                             | 1,000,000           |    |  -    |     | 1,00,000       |
|                                               | Additional      Paid in Capital                |                |    |  -    |     | -              |
|                                               | Retained      Earning /(Accumulated Loss)      | -107,577            |    |  -    |     | -107,577       |
|                                               |                                           | 892,423             |    |       |     | 892,423        |
|                                               |                                           |                |    |       |     |           |
| Total      Liabilities and shareholder's equity    | 892,423                                        |                |    |       | 892,423  |
|                                               |                                           |                |    |       |     |           |
| Control                                            |  -                                        |                |    |       |  -  |
|                                               |                                           |                |    |       |     |           |
| Sales                                              |                                           |  -             |    |  -    |     |  -        |
| Less:                                              | Cost      of sales                             |  -             |    |  -    |     |  -        |
|                                               | Gross      profit                              |  -             |    |       |     |  -        |
|                                               |                                           |                |    |       |     |           |
| Selling,General      & administrative expenses | 310                                            |                |  - |       | 310      |
|                                               | Profit/(Loss)      from operations             | -310                |    |       |     | -310           |
|                                               |                                           |                |    |       |     |           |
| Interest      income                               |  -                                        |                |  - |       |  -  |
| Other      income/(loss),net                       |  -                                        |                |  - |       |  -  |
|                                               | Profit(Loss)      before income taxes          | -310                |    |       |     | -310           |
|                                               | Profit      Tax                                |  -             |    |  -    |     |  -        |
|                                               | Net      Profit/(Loss)                         | -310                |    |       |     | -310           |
|                                               |                                           |                |    |       |     |           |
| Retained      Earning/(Loss) b/f                   | -107,267                                       |                |  - |       | -107,267 |
|                                               |                                           |                |    |       |     |           |
| Retained      Earning/(Loss) c/f                   | -107,577                                       |                |    |       | -107,577 |
|                                               |                                           |                |    |       |     |           |
| Control                                            |                                           |                |  - |       |     |
|                                               |                                           |                |    |       |     |           |

| ChinaE.com      Information Technology Ltd         |                                           |                |          |        |        |
|----------------------------------------------------|------------------------------------------------|---------------------|---------------|-------------|-------------|
| Balance      Sheet and operations                  |                                           |                |          |        |        |
| 30/11/2007                                         |                                           |                |          |        |        |
| <RMB>                                        |                                           |                |          |        |        |
|                                               |                                           | Shenzhen      Books |          | Adjustment  |        | USA      Books |
| ASSETS                                             |                                           |                |          |        |        |
| Current      Assets                                |                                           |                |          |        |        |
|                                               | Cash      & Bank Deposits                  | 313                 |          |  -     |        | 313 |
|                                               | Accounts      receivable,net                   | 15,500              |          | -15,500     |        |  - |
|                                               | Consumables                                    | 17,162              |          | -17,162     |        |  - |
|                                               | Inventory                                      | 4,500               |          | -4,500      |        |  - |
|                                               | Amount      due from group companies           |                |          | 13,063,147  |        | 13,063,147 |
|                                               | Prepayment,deposit      & other receivable | 11,941,479          |          | -11,923,620 |        | 17,859 |
|                                               |                                           | 11,978,954          |          |        |        | 13,081,319 |
|                                               |                                           |                |          |        |        |   |
| Non      current assets                            |                                           |                |          |        |        |
|                                               | Fixed      assets                              | 772,258             |          | -771,274    |        | 984 |
|                                               | Investment      in subsidiary                  | 804,164             |          | 95,836      |        | 900,000 |
|                                               | Software      license                          |                |          |  -     |        |  - |
|                                               |                                           | 1,576,422           |          |        |        | 900,984 |
|                                               |                                           |                |          |        |        |   |
| Total      Assets                                  | 13,555,376                                     |                |          |        | 13,982,303  |
|                                               |                                           |                |          |        |        |   |
| Liabilities and      Shareholder's Equity          |                                           |                |          |        |        |
| Current      Liabilities                           |                                           |                |          |        |        |
|                                               | Accounts      Payable                          |  -             |          |  -     |        |  - |
|                                               | Deferred      revenue                          |                |          | -29,565     |        | 29,565 |
|                                               | Deposit      from customers                    |                |          | -445,044    |        | 445,044 |
|                                               | Accruals                                       |  -             |          |  -     |        |  - |
|                                               | Business      tax and government surcharges    |  -             |          | -9,547      |        | 9,547 |
|                                               | Due      to group companies                    |                |          | -26,747,755 |        | 26,747,755 |
|                                               | Order      payable                             | 24,109,060          |          | 24,109,060  |        |  - |
|                                               |                                           | 24,109,060          |          |        |        | 27,231,911 |
| Minority      interests                            |                                           |                |          |        |        |
| Shareholder's      Equity                          |                                           |                |          |        |        |
|                                               | Share      Capital                             | 13,500,000          |          |  -     |        | 13,500,000 |
|                                               | Retained      Earning /(Accumulated Loss)      | -24,053,684         |          |  -     |        | -26,749,608 |
|                                               |                                           | -10,553,684         |          |        |        | -13,249,608 |
|                                               |                                           |                |          |        |        |   |
| Total      liabilities and shareholder's equity    | 13,555,376                                     |                |          |        | 13,982,303  |
|                                               |                                           |                |          |        |        |   |
| Control                                            |  -                                        |                |          |        |  -     |
|                                               |                                           |                |          |        |        |   |
| Income                                             |                                           |                |          |        |        |
| Sales                                              |                                           | 18,390              |          | -29,916     |        | 48,306 |
| Less:cost                                          |                                           |                |          |        |        |
|                                               | Cost      of sales                             | 11,224              |          | 1,556       |        | 12,780 |
|                                               | Provision      for stock obsolescence          |                |          |  -     |        |  - |
|                                               | Gross      profit                              | 7,166               |          |        |        | 35,526 |
|                                               |                                           |                |          |        |        |   |
| Selling,General      & administrative expenses | 49,132                                         |                | -44,539       |        | 4,593       |
|                                               | Profit      (Loss) from operations             | -41,966             |          |        |        | 30,933 |
|                                               |                                           |                |          |        |        |   |
| Interest      income                               | 69                                             |                |  -       |        | 69          |
| Share      of loss of subsidiary                   |  -                                        |                |  -       |        |  -     |
| Other      income/(loss),net                       | -5,670                                         |                | -7,700        |        | 2,030       |
|                                               | Profit      (Loss) before income taxes         | -47,567             |          |  -     |        | 33,032 |
|                                               |                                           |                |          |        |        |   |
| Taxation                                           |  -                                        |                |  -       |        |  -     |
|                                               | Net      Profit/( Loss)                        | -47,567             |          |        |        | 33,032 |
|                                               |                                           |                |          |        |        |   |
| Retained      Earning b/f                          | -24,006,117                                    |                | 2,776,523     |        | -26,782,640 |
|                                               |                                           |                |          |        |        |   |
| Retained      Earning c/f                          | -24,053,684                                    |                |          |        | -26,749,608 |
|                                               |                                           |                |          |        |        |   |
| control                                            |                                           |                |        - |        |        |

| ChinaE.com      Investment Consultant (Shenzhen) Ltd |                                           |                |          |       |
|------------------------------------------------------|------------------------------------------------|---------------------|---------------|------------|
| Balance      Sheet and Operations                    |                                           |                |          |       |   |
| 30/11/2007                                           |                                           |                |          |       |   |
| <RMB>                                          |                                           |                |          |       |   |
|                                                 |                                           | Shenzhen      Books |          | Adjustment |   | USA      Books |
|                                                 |                                           |                |          |       |   |   |
| ASSETS                                               |                                           |                |          |       |   |
| Current      Assets                                  |                                           |                |          |       |   |
|                                                 | Cash      & Bank Deposits                  | 1,229               |          |  -    |   | 1,229 |
|                                                 | Amount      due from group companies           |                |          | 4,474,765  |   | 4,474,765 |
|                                                 | Prepayment,deposit      & Other receivable | 582,895             |          | -581,593   |   | 1,302 |
|                                                 |                                           | 584,124             |          |       |   | 4,477,296 |
| Non      current assets                              |                                           |                |          |       |   |
|                                                 | Fixed      assets                              | 10,003              |          | -1,253     |   | 8,750 |
|                                                 |                                           |                |          |       |   |   |
| Total      Assets                                    | 594,127                                        |                |          |       | 4,486,046 |
|                                                 |                                           |                |          |       |   |   |
| Liabilities and      Shareholder's Equity            |                                           |                |          |       |   |
| Current      Liabilities                             |                                           |                |          |       |   |
|                                                 | Accruals                                       | 19,859              |          |  -    |   | 19,859 |
|                                                 | Business      tax and government surcharges    |  -             |          |  -    |   |  - |
|                                                 | Due      to group companies                    |                |          |  -    |   |  - |
|                                                 | Other      payable                             | -3,893,172          |          | -3,893,172 |   |  - |
|                                                 |                                           | -3,873,313          |          |       |   | 19,859 |
| Shareholder's      Equity                            |                                           |                |          |       |   |
|                                                 | Share      Capital                             | 5,060,018           |          |  -    |   | 5,060,018 |
|                                                 | Capital      surplus                           |  -             |          |  -    |   |  - |
|                                                 | Retained      Earning /(Accumulated Loss)      | -592,578            |          |  -    |   | -593,831 |
|                                                 |                                           | 4,467,440           |          |       |   | 4,466,187 |
|                                                 |                                           |                |          |       |   |   |
| Total      liabilities and shareholder's equity      | 594,127                                        |                |          |       | 4,486,046 |
|                                                 |                                           |                |          |       |   |   |
| Control                                              |  -                                        |                |          |       |  - |
|                                                 |                                           |                |          |       |   |   |
| Income                                               |                                           |                |          |       |   |
| Sales                                                |                                           |  -             |          |  -    |   |  - |
| Less:                                                |  Cost      of sales                       |  -             |          |  -    |   |  - |
|                                                 |  Gross      profit                        |  -             |          |       |   |  - |
|                                                 |                                           |                |          |       |   |   |
| Selling,General      & administrative expenses   | 255,964                                        |                | 1,634         |       | 257,598 |
|                                                 | Profit/(Loss)      from operations             | -255,964            |          |       |   | -257,598 |
|                                                 |                                           |                |          |       |   |   |
| Interest      income                                 | 623                                            |                |  -       |       | 623 |
| Other      income/(loss),net                         |  -                                        |                |  -       |       |  - |
|                                                 | Profit(Loss)      before income taxes          | -255,341            |          |       |   | -256,975 |
|                                                 | Profit      Tax                                |  -             |          |  -    |   |  - |
|                                                 | Net      Profit/(Loss)                         | -255,341            |          |       |   | -256,975 |
|                                                 |                                           |                |          |       |   |   |
| Retained      Earning/(Loss) b/f                     | -377,237                                       |                | -381          |       | -336,856 |
|                                                 |                                           |                |          |       |   |   |
| Retained      Earning/(Loss) c/f                     | -592,578                                       |                |          |       | -593,831 |
|                                                 |                                           |                |          |       |   |   |
| Control                                              |                                           |                |        - |       |   |

| ChinaE.com-SI                                      |                                           |                |    |       |       |
|----------------------------------------------------|------------------------------------------------|---------------------|---------|------------|------------|
| Balance      Sheet and Operations                  |                                           |                |    |       |       |
| 30/11/2007                                         |                                           |                |    |       |       |
| <RMB>                                        |                                           |                |    |       |       |
|                                               |                                           |                |    |       |       |   |
|                                               |                                           | ShenZhen      Books |    | Adjustment |       | USA      Books |
|                                               |                                           |                |    |       |       |   |
| ASSETS                                             |                                           |                |    |       |       |
| Current      Assets                                |                                           |                |    |       |       |
|                                               | Cash      & Bank Deposits                  |  -             |    |  -    |       |  - |
|                                               | Prepayment,deposit      & Other receivable | 1,500               |    | -1,500     |       |  - |
|                                               |                                           | 1,500               |    |       |       |  - |
| Non      current assets                            |                                           |                |    |       |       |
|                                               | Plant,machinery      and equipment,net         |  -             |    |  -    |       |  - |
|                                               |                                           |                |    |       |       |   |
| Total      Assets                                  | 1,500                                          |                |    |       |  -    |
|                                               |                                           |                |    |       |       |   |
| Liabilities and      Shareholder's Equity          |                                           |                |    |       |       |
| Current      liabilities                           |                                           |                |    |       |       |
|                                               | Due      to group companies                    |                |    | -1,405,513 |       | 1,405,513 |
|                                               | Other      payable                             | 1,405,513           |    | 1,405,513  |       |  - |
|                                               |                                           | 1,405,513           |    |       |       | 1,405,513 |
| Shareholder's      Equity                          |                                           |                |    |       |       |
|                                               | Share      Capital                             |  -             |    |  -    |       |  - |
|                                               | Additional      Paid in Capital                |                |    |  -    |       |  - |
|                                               | Retained      Earning /(Accumulated Loss)      | -1,404,013          |    |  -    |       | -1,405,513 |
|                                               |                                           | -1,404,013          |    |       |       | -1,405,513 |
| Total      liabilities and shareholder's equity    | 1,500                                          |                |    |       |  -    |
|                                               |                                           |                |    |       |       |   |
| Control                                            |  -                                        |                |    |       |  -    |
|                                               |                                           |                |    |       |       |   |
| Sales                                              |                                           |  -             |    |  -    |       |  - |
| Less:                                              | Cost      of sales                             |  -             |    |  -    |       |  - |
|                                               | Gross      profit                              |  -             |    |       |       |  - |
|                                               |                                           |                |    |       |       |   |
| Selling,General      & administrative expenses | 105                                            |                |  - |       | 105        |
|                                               | Profit/(Loss)      from operations             | -105                |    |       |       | -105 |
|                                               |                                           |                |    |       |       |   |
| Interest      income                               |  -                                        |                |  - |       |  -    |
| Other      income(loss),net                        |  -                                        |                |  - |       |  -    |
|                                               | Profit/(Loss)      before income taxes         | -105                |    |       |       | -105 |
|                                               |                                           |                |    |       |       |   |
| Taxation                                           |                                           |                |  - |       |  -    |
|                                               |                                           |                |    |       |       |   |
|                                               | Net      Profit/(Loss)                         | -105                |    |       |       | -105 |
|                                               |                                           |                |    |       |       |   |
| Retained      Earning/(Loss) b/f                   | -1,403,908                                     |                | 1,500   |       | -1,405,408 |
|                                               |                                           |                |    |       |       |   |
| Retained      Earning/(Loss) c/f                   | -1,404,013                                     |                |    |       | -1,405,513 |
|                                               |                                           |                |    |       |       |   |
| control                                            |                                           |                | -       |       |       |

| ChinaE.com      Technology (Shenzhen) Ltd          |                                           |                |          |       |       |
|----------------------------------------------------|------------------------------------------------|---------------------|---------------|------------|------------|
| Balance      Sheet and Operations                  |                                           |                |          |       |       |
| 30/11/2007                                         |                                           |                |          |       |       |
| <RMB>                                        |                                           |                |          |       |       |
|                                               |                                           |                |          |       |       |   |
|                                               |                                           | ShenZhen      Books |          | Adjustment |       | USA      Books |
|                                               |                                           |                |          |       |       |   |
| ASSETS                                             |                                           |                |          |       |       |
| Current      Assets                                |                                           |                |          |       |       |
|                                               | Cash      & Bank Deposits                  | 53,354              |          |  -    |       | 53,354 |
|                                               | Accounts      receivable,net                   | 200                 |          | 10,000     |       | 10,200 |
|                                               | Amount      due from group companies           |                |          | 778,787    |       | 778,787 |
|                                               | Prepayment,deposit      & Other receivable | 581,770             |          | -534,177   |       | 47,593 |
|                                               |                                           | 635,324             |          |       |       | 889,934 |
| Non      current assets                            |                                           |                |          |       |       |
|                                               | Fixed      assets                              | 388,925             |          | -120,235   |       | 268,690 |
|                                               | Intangible      asset                          | 145,777             |          | -8,390     |       | 137,387 |
|                                               |                                           | 534,702             |          |       |       | 406,077 |
|                                               |                                           |                |          |       |       |   |
| Total      Assets                                  | 1,170,026                                      |                |          |       | 1,296,011  |
|                                               |                                           |                |          |       |       |   |
| Liabilities and      Shareholder's Equity          |                                           |                |          |       |       |
| Current      liabilities                           |                                           |                |          |       |       |
|                                               | Accruals                                       | 35,283              |          |  -    |       | 35,283 |
|                                               | Business      tax and government surcharges    | 105                 |          | 10,568     |       | -10,463 |
|                                               | Deferred      revenue                          |                |          | -22,811    |       | 22,811 |
|                                               | Deposit      from customers                    |  -             |          | -187,820   |       | 187,820 |
|                                               | Due      to group companies                    |                |          | -8,010,906 |       | 8,010,906 |
|                                               | Other      payable                             | 7,899,855           |          | 7,889,686  |       | 10,169 |
|                                               |                                           | 7,935,243           |          |       |       | 8,256,526 |
| Shareholder's      Equity                          |                                           |                |          |       |       |
|                                               | Share      Capital                             | 1,000,000           |          |  -    |       | 1,000,000 |
|                                               | Capital      surplus                           | 57,529              |          | 57,529     |       |  - |
|                                               | Additional      Paid in Capital                |                |          |  -    |       |  - |
|                                               | Retained      Earning /(Accumulated Loss)      | -7,822,746          |          |  -    |       | -7,960,515 |
|                                               |                                           | -6,765,217          |          |       |       | -6,960,515 |
|                                               |                                           |                |          |       |       |   |
| Total      liabilities and shareholder's equity    | 1,170,026                                      |                |          |       | 1,296,011  |
|                                               |                                           |                |          |       |       |   |
| Control                                            |  -                                        |                |          |       |  -    |
|                                               |                                           |                |          |       |       |   |
|                                               |                                           |                |          |       |       |   |
| Income                                             |                                           |                |          |       |       |
| Sales                                              |                                           | 31,150              |          | 3,453      |       | 27,697 |
| Less:                                              |  Cost      of sales                       | 330,899             |          | 25,873     |       | 356,772 |
|                                               |  Gross      profit                        | -299,749            |          |       |       | -329,075 |
|                                               |                                           |                |          |       |       |   |
| Selling,General      & administrative expenses | 519,506                                        |                | 25,679        |       | 545,185    |
|                                               | Profit/(Loss)      from operations             | -819,255            |          |       |       | -874,260 |
|                                               |                                           |                |          |       |       |   |
| Interest      Income                               | 4,944                                          |                |  -       |       | 4,944      |
| Other      income/(loss),net                       | -8,862                                         |                | -31,500       |       | 22,638     |
|                                               | Profit(Loss)      before income taxes          | -823,173            |          |       |       | -846,678 |
|                                               | Profit      Tax                                |  -             |          |  -    |       |  - |
|                                               | Net      Profit/( Loss)                        | -823,173            |          |       |       | -846,678 |
|                                               |                                           |                |          |       |       |   |
| Retained      Earning/(Loss) b/f                   | -6,999,573                                     |                | 114,264       |       | -7,113,837 |
|                                               |                                           |                |          |       |       |   |
| Retained      Earning/(Loss) c/f                   | -7,822,746                                     |                |          |       | -7,960,515 |
|                                               |                                           |                |          |       |       |   |
| Control                                            |                                           |                |        - |       |       |