----

|                         |                                                                                      | Page   |
|------------------------------|-------------------------------------------------------------------------------------------|--------|
|                         |                                                                                      |   |
| PART      I                  |                                                                                      | 1      |
|                         |                                                                                      |
| LEGAL      BASIS AND PARTIES | 1                                                                                         |
|                         |                                                                                      |   |
| PART      II                 |                                                                                      | 2      |
|                         |                                                                                      |   |
| PRINCIPAL      CONTENTS      | 2                                                                                         |
|                         |                                                                                      |   |
| Article      1:              | Definitions      and Interpretation                                                       | 3      |
|                         |                                                                                      |   |
| Article      2:              | Purposes      and Scope of Cooperation                                                    | 5      |
|                         |                                                                                      |   |
| Article      3:              | Details      of the Project                                                               | 6      |
|                         |                                                                                      |   |
| Article      4:              | Contribution      of the Parties                                                          | 6      |
|                         |                                                                                      |   |
| Article      5:              | Rights      and Obligations of the Parties                                                | 8      |
|                         |                                                                                      |   |
| Article      6:              | Conditions      Precedent                                                                 | 9      |
|                         |                                                                                      |   |
| Article      7:              | Converting      Project from Business Cooperation Agreement into Joint Stock      Company | 9      |
|                         |                                                                                      |   |
| PART      III                |                                                                                      | 10     |
|                         |                                                                                      |
| OPERATIONAL      MATTERS     | 10                                                                                        |
|                         |                                                                                      |
| Article      8:              | Structure      of Management                                                              | 10     |
|                         |                                                                                      |   |
| Article      9:              | Accounting      System                                                                    | 12     |
|                         |                                                                                      |   |
| Article      10:             | Bank      Accounts                                                                        | 13     |
|                         |                                                                                      |   |
| Article      11:             | Fiscal      Year                                                                          | 13     |
|                         |                                                                                      |   |
| Article      12:             |  Revenues      and Joint Expenditures                                                | 13     |
|                         |                                                                                      |   |
| Article      13:             | Profits,      Distribution of Profits and Settlement of Loss                              | 15     |
|                         |                                                                                      |   |
| Article      14:             | Financial      Statements and Audited Accounts                                            | 16     |
|                         |                                                                                      |   |
| Article      15:             | Taxes                                                                                     | 17     |
|                         |                                                                                      |   |
| Article      16:             | Labour      Policies                                                                      | 17     |
|                         |                                                                                      |   |
| Article      17:             | Force      Majeure                                                                        | 18     |
|                         |                                                                                      |   |
| Article      18:             | Dispute      resolution                                                                   | 18     |
|                         |                                                                                      |   |
| Article      19:             | Duration      – Effect                                                              | 18     |
|                         |                                                                                      |   |
| Article      20:             | Termination      resulting from a Default by a Party                                      | 19     |

----

| Article      21: | Termination      not arising from a Default by a Party | 19     |
|------------------|--------------------------------------------------------|--------|
|             |                                                   |   |
| Article      22: | Termination      Procedure                             | 20     |
|             |                                                   |   |
| Article      23: | Confidentiality                                        | 21     |
|             |                                                   |   |
| Article      24: | Governing      Laws                                    | 22     |
|             |                                                   |   |
| Article      25: | Insurance                                              | 22     |
|             |                                                   |   |
| Article      26: | Liquidation                                            | 22     |
|             |                                                   |   |
| Article      27: | Representations      and Covenants                     | 23     |
|             |                                                   |   |
| Article      28: | Notices                                                | 23     |
|             |                                                   |   |
| Article      29: | Languages      and Copies                              | 24     |
|             |                                                   |   |
| Article      30: |  General      Matters                             | 24     |

----

| (i) | The      Law on Investment No.59/2005/QH11 approved by The National Assembly of      Socialist Republic of Vietnam on 29 November  2005; |
|-----|------------------------------------------------------------------------------------------------------------------------------------------|

| (ii) | The      Law on Information and Technology No.67/2006/QH11 approved by The National      Assembly of Socialist Republic of Vietnam on 29 June  2006; |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------|

| (iii) | Pursuant      to the Tax Administration Law No. 78/2006/QH11 November 29, 2006 and      guiding documents; |
|-------|------------------------------------------------------------------------------------------------------------|

| (iv) | Pursuant      to Corporate Income Tax Law 14/2008/QH12 June 3, 2008 and other guiding      documents; |
|------|-------------------------------------------------------------------------------------------------------|

| (v) | Pursuant      to Decree 160/2006/ND-CP of December 28, 2006 of the Government detailing      the implementation of some articles of the Ordinance on Foreign      Exchange; |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (vi) | Decree      No.108/2006/ND-CP of the Government dated 22 October 2006 on providing      guidelines for implementation of a number of article of Law on      Investment; |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (vii) | Circular      No. 186/2010/TT-BTC by the Ministry of Finance issued November 18, 2010      guiding the transfer of profits abroad by foreign institutions, foreign      individuals can profit from the beginning direct investment in Vietnam      under the investment provisions of theLaw |
|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (viii) | The      result of the negotiation between Parties on cooperating to execute the      INFO.VN project (the “Business”). |
|--------|-------------------------------------------------------------------------------------------------------------------------------------|

| (A) | Party  A: |
|-----|-----------|

|   | 1. | Name: DOT VN, INC. a Delaware      corporation, duly established on May 27, 1998 and validly existing under      the laws of the State of Delaware. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Registered      address: | 9449      Balboa Avenue, Suite 114, San Diego, CA92130 |
|--------|----|--------------------------|--------------------------------------------------------|

|   | Telephone: | 8583.571.2007 | Fax:      858.571.8497 |
|--------|------------|---------------|------------------------|

|   | 3. | Business      Registration Certificate No.: 2899848 |
|--------|----|----------------------------------------------------------|

|   | Date:  05/27/1998 |
|--------|-----------------------------|

|   | 4. | Authorized      Representative: Lee Johnson |
|--------|----|---------------------------------------------|

----

| (B) | Party  B: |
|-----|-----------|

|   | 1. | Name:    VIETNAM      TELECOMMUNICATIONS AND INTERNET, JSC, a private joint stock company      duly established under Business License No. 0103016243 dated March 19,      2007 issued by the Hanoi Department of Planning and Investment and validly      existing under the laws of Vietnam. |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Register      address:  134 Kim Ma Street, Ba Dinh District, Hanoi      Vietnam. |
|--------|----|--------------------------------------------------------------------------------------------|

|   | 3. | Business      Registration Certificate No.:0103016243 |
|--------|----|-------------------------------------------------------|

|   | 4. | Authorized      Representative: | Ngoc      Anh Ung |
|--------|----|---------------------------------|-------------------|

| (A) | Party      A and Party B wish to own, develop, design and operate a web platform for      news, entertainment, an online business directory, social media and      electronic advertising (the“Project”); |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (B) | Party      A and Party B wish to enter into this Agreement for the purpose of      recording and regulating their relationship and collaboration on the      Project. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | PRINCIPAL      CONTENTS |
|--------|-------------------------|

| Article      1: | Definitions and      Interpretation |
|-----------------|-------------------------------------|

----

| 1.1 | Definitions |
|-----|-------------|

----

----

| 1.2 | Interpretation: |
|-----|-----------------|

| (a) | Any      expression which is not specifically defined in this Agreement but is      defined by reference to the Articles shall be construed      accordingly; |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (b) | Any      reference to a statutory provision shall include such provision as from      time to time modified or re-enacted in so far as such modification or      re-enactment applies or is capable of applying to any transaction entered      into hereunder; |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (c) | Any      reference to any document including this Agreement shall include such      document (or this Agreement as the case may be) as from time to time      modified, supplemented or amended; |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (d) | Unless      otherwise specified or if the context does not permit, references to      clauses and schedules, are to the clauses of and schedules to, this      Agreement; and paragraphs are to the paragraphs of the Schedules of this      Agreement; |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (e) | The      headings are for convenience only and shall not affect the interpretation      hereof. |
|-----|-------------------------------------------------------------------------------------------------|

| (f) | Unless      the context otherwise requires, references to the singular number shall      include references to the plural number and vice versa and references to      natural persons shall include bodiescorporate; |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (g) | Every      defined term shall whenever used in any of its other grammatical versions,      be construed accordingly; and |
|-----|--------------------------------------------------------------------------------------------------------------------------|

| (f) | References      to party and parties shall be construed as references to a party or the      parties to this Agreement. |
|-----|-------------------------------------------------------------------------------------------------------------------------|

| Article      2: | Purposes and Scope of      Cooperation |
|-----------------|----------------------------------------|

| 2.1 | The      two Parties agree to co-operate in establishing and operating INFO.VN with      the goal of providing a variety of online services, including but not      limited to, news, entertainment, an online an online business directory,      social media and onlineadvertising. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 2.2 | Form      of co-operation: The parties agree to implement the Project in the form of      a Business Cooperation Agreement between them on the terms and subject to      the conditions set out in this Agreement. The accounting and the overall      management of business activities shall be executed by Party B. In the      future, at the reasonable time, both parties shall carry out necessary      procedures as required by laws of Vietnam in order to convert the      Agreement into a joint stock company. The details of conversion of the      Agreement into a joint stock company shall be discussed between      parties. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 2.3 | The      Business shall be conducted so as to achieve positive economic results for      the benefit of the Business and enable each Party to obtained satisfactory      financial return there from. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      3: | Details of the      Project |
|-----------------|-----------------------------|

| Name      of the Project                             | : | Establishment      of www.info.vn                                                                                                              |
|------------------------------------------------------|---|------------------------------------------------------------------------------------------------------------------------------------------------|
| Initial      Total Investment Capital of the Project | : | US      $ 1,000,000 (One Million US Dollars)                                                                                                   |
| Operation      term of the Project                   | : | 50      (fifty) years from the date of this Agreement                                                                                          |
| Progress      of the Project                         | : | -  Expected      launch of commercial services on INFO.VN: 3-4 months-  Expected      launch of social network: 7-9 months |
| Main      services of the Project                    | : | -News      and Entertainment;-Online      Business Directory;-Social      Media; and-Online      Advertising                                   |

| Article      4: | Contribution of the      Parties |
|-----------------|----------------------------------|

| 4.1 | Ratio of      Contribution: |
|-----|-----------------------------|

----

| 4.2 | Schedule      of Contribution: |
|-----|--------------------------------|

|              4.2.1 | Party      A: |
|-------------------------------------------------------|---------------|

|   | (i) | INFO.VN      Software Design and Development Fees including but not limited to fees for      creation of User Interface, Database development, and any related      applications; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (ii) | INFO.VN      Hardware and Equipment Costs including but not limited to servers, data      center equipment, network equipment and hosting facility      costs; |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (iii) | Expenses      of operating INFO.VN (management expenses, salary, employment      expenses...); |
|--------|-------|----------------------------------------------------------------------------------------------------|

|   | (iv) | All      fees and expenses relating to training and transfer technology [if      any]; |
|--------|------|----------------------------------------------------------------------------------------|

|   | (v) | Vehicles      used for network operation and management [if  any]; |
|--------|-----|--------------------------------------------------------------------|

|   | (vi) | Working      capital; |
|--------|------|-----------------------|

|   | (vii) | Office      equipments, etc. |
|--------|-------|------------------------------|

|              4.2.2 | Party      B |
|-------------------------------------------------------|--------------|

----

| 4.3 | Any      cash contributed by the Parties shall be deposited in a Joint Account in      Vietnam; |
|-----|-------------------------------------------------------------------------------------------------|

| 4.4 | Any      contribution of each Party which is not in form of cash shall be checked      and evaluated based on mutual agreement between parties. In case, parties      do not reach an agreement on valuation of contribution then the parties      shall appoint a company or a professional assessment organization duly      registered and operating in Vietnam or a foreign country to check and      evaluate such contribution. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4.5 | Ownership      of Contributions: |
|-----|----------------------------------|

|              4.5.1 | The      Parties agree that all assets described as parts of the party’s      contribution to the Project of this Agreement shall still be owned by the      Party who contributes those assets during the  Term; |
|-------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              4.5.2 | The      assets to be purchased by the Joint Account of the Project (if required      only) shall be jointly owned by the two Parties as Joint Assets in      compliance with Vietnamese laws. The Joint Assets shall be used solely for      this Project. |
|-------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              4.5.3 | The      parties agree that upon termination of the Business Cooperation Agreement,      all assets described as parts of a Party’s contribution to the Project      shall be return to such party. Joint Assets (if any) shall be distributed      to parties in accordance with proportion of contribution of each party to      the total Investment Capital. |
|-------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      5: | Rights and Obligations of the      Parties |
|-----------------|--------------------------------------------|

| 5.1 | The      Party A shall have the following rights and  obligations: |
|-----|--------------------------------------------------------------------|

|              5.1.1 | To      be responsible to design INFO.VN; |
|-------------------------------------------------------|-------------------------------------------|

|              5.1.2 | To      be accountable to finance the procurement of the equipments/facilities in      order to set up and operate INFO.VN pursuant to the requirements of      Article 4.1. |
|-------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              5.1.3 | To      be responsible for managing and running the process of setting up,      building and completing INFO.VN and promptly report the progress to Party      B. |
|-------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              5.1.4 | To      be responsible for preparing a Business Plan approved by the      Parties; |
|-------------------------------------------------------|------------------------------------------------------------------------------------|

|              5.1.5 | To      appoint personnel to participate in management of  INFO.VN; |
|-------------------------------------------------------|---------------------------------------------------------------------|

|              5.1.6 | To      co-operate with Party B in order to carry out and obtain all necessary      procedure/approval required for purpose of setting up and operating      INFO.VN. |
|-------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              5.1.7 | To      assist Party B in procedure of importing equipments to Custom offices and      other procedures related to the establishment, management and operation of      INFO.VN and contemplated services. |
|-------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 5.2 | The      Party B shall have the following rights and  obligations: |
|-----|--------------------------------------------------------------------|

|              5.2.1 | To      obtain the necessary Licenses to operate the Project: Party B shall be      responsible for completion of the project profile and other procedures in      order to apply for any applicable Licenses or certificates (costs for this      application procedure shall be calculated as Joint      Expenditure); |
|-------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              5.2.2 | To      carry out and obtain, with assistance of Party A, all necessary      procedure/approval required for purpose of setting up and operating      INFO.VN; |
|-------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              5.2.3 | To      participate in making strategy and plan for development of      INFO.VN; |
|-------------------------------------------------------|----------------------------------------------------------------------------------|

|              5.2.4 | To      appoint personnel to participate in management of  INFO.VN; |
|-------------------------------------------------------|---------------------------------------------------------------------|

|              5.2.5 | To      manage, run and operate INFO.VN in accordance with approved Business      Plan; |
|-------------------------------------------------------|-----------------------------------------------------------------------------------------|

|              5.2.6 | To      support the execution of Business Plan including but not limited to      advertising and promotions forINFO.VN; |
|-------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------|

|              5.2.7 | To      co-ordinate with Party A in setting up and operating    INFO.VN; |
|-------------------------------------------------------|--------------------------------------------------------------------------|

|              5.2.8 | To      be responsible for procedure of importing equipments to Custom offices and      other procedures related to the establishment, management and operation of      INFO.VN and contemplated services. |
|-------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      6: | Conditions      Precedent |
|-----------------|---------------------------|

| 6.1 | Party      B has provided Party A with a copy of documents required to operate an      online newspaper and provide online advertising  services; |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.2 | The      parties having performed all of the covenants and obligations required to      be performed or caused to be performed by it under this Agreement;      and |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 6.4 | Completion      of a beta test of the INFO.VN website. |
|-----|--------------------------------------------------------|

----

| Article    7: | Converting      Project from Business Cooperation Agreementinto Joint      Stock Company |
|---------------|------------------------------------------------------------------------------------------|

| 7.1 | In      accordance with Article 2.2 of this Agreement, both Parties shall take the      proper procedures to convert the Business Cooperation Agreement into a      Joint Stock Company and be willing to cooperate with other partners who      desire to contribute capital into Joint Stock Company for the purpose of      enlarging and/or enhancing the Project’s scale in the    future. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.2 | Terms      and conditions related to charter capital and management of the Joint      Stock Company shall be changed with agreement between parties in      conformity with the Laws ofVietnam. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 7.3 | Both      Parties shall be founding shareholders of the Joint Stock Company and each      Party shall own shares of the Joint Stock Company in accordance with      proportion of contribution of each party to the charter capital of the      Joint Stock Company, provided however, the      share of Party A shall be equal or more than 51% of the Capital      Contribution of the Joint StockCompany. |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      8: | Structure of      Management |
|-----------------|------------------------------|

| 8.1 | The      Parties agree that after obtaining any necessary Licenses from competent      State agencies, the Parties shall set up a Management Committee to decide      general matters relating to this Business Co-operation      Agreement. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.2 | Direct      management of business activities (day-to-day) relating to this Agreement      upon decisions of Management Committee shall be responsibility of Party A.      Party A shall have authorization and obligation to organize the management      organization including Director, Deputy Director, Chief Accountant and      other members of the Agreement. The competent and responsibility of the      Director, Deputy Director and Chief Accountant shall be regulated by Party      A in compliance with the decision of Management  Committee. |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 8.3 | Organization      and operation structure of ManagementCommittee: |
|-----|-------------------------------------------------------------------|

|              8.3.1 | Organization      Structure: |
|-------------------------------------------------------|------------------------------|

|   | - | Management      Committee shall include: | 03      (three) members, in which: |
|--------|---|------------------------------------------|------------------------------------|

|   | + | Party      A shall appoint: | 02      (two) members |
|--------|---|-----------------------------|-----------------------|

|   | + | Party      B shall appoint: | 01      (one) member |
|--------|---|-----------------------------|----------------------|

|   | - | The      operation term of Management Committee shall be 50 (fifty)      years |
|--------|---|--------------------------------------------------------------------------------|

|   | + | The      term of Management Committee’s member shall be 01 (one)    year |
|--------|---|--------------------------------------------------------------------------------|

|   | + | Member      of Management Committee can be re-appointed for unrestricted number of      terms. |
|--------|---|------------------------------------------------------------------------------------------------|

----

|   | - | The      Chairperson of Management Committee shall be elected by the members of      Management Committee/ the Parties shall agree on appointment of the      Chairperson of Management Committee. The Chairperson of Management      Committee shall be permanent representative of Management Committee and      shall have power and obligation to conclude contracts relating to      activities of this Business Cooperation Agreement on behalf of the      Management Committee. |
|--------|---|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | - | The      member of Management Committee shall be discharged or removed by a      decision in writing of the person who is entitled to appoint such member.      This decision must be sent to the Chairperson of Management Committee      within 05 (five) days from the date of issuing such    decision. |
|--------|---|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              8.3.2 | Operation      Structure: All decisions of Management Committee shall be approved by a      majority of Management Committeemembers. |
|-------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------|

| 8.4 | Powers      and obligations of the ManagementCommittee: |
|-----|---------------------------------------------------------|

|   |              8.4.1 | To      decide business policy, strategy and approve long-term and annual      development plans of the Business Cooperation  Agreement; |
|--------|-------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------|

|   |              8.4.2 | To      decide the plan of annual Revenues and Joint Expenditure of Business      Co-operation Agreement. |
|--------|-------------------------------------------------------|-----------------------------------------------------------------------------------------------------------|

|   |              8.4.3 | To      approve accounting reports, financial statement of the Business      Cooperation Agreement and decide the use and distribution of profit in      accordance with the laws ofVietnam; |
|--------|-------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |              8.4.4 | To      appoint an auditing company for the Business Cooperation      Agreement; |
|--------|-------------------------------------------------------|----------------------------------------------------------------------------------|

|   |              8.4.5 | To      decide the conclusion of all contracts between the Business Cooperation      Agreement with any partner; |
|--------|-------------------------------------------------------|------------------------------------------------------------------------------------------------------------------|

|   |              8.4.6 | To      supervise, control and replace (as and when needed) the employees of the      Business Cooperation Agreement; |
|--------|-------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|

|   |              8.4.7 | Other      rights and obligations as provided in the regulations of Vietnamese      laws. |
|--------|-------------------------------------------------------|-------------------------------------------------------------------------------------------|

| 8.5 | Organization      and operating structure of ManagementTeam: |
|-----|--------------------------------------------------------------|

|   | - | The      Management Team shall include: |
|--------|---|-----------------------------------------|

|   | + | General      Director; |
|--------|---|------------------------|

|   | + | Deputy      General Director; |
|--------|---|-------------------------------|

|   | + | Chief      Accountant; and                                           |
|--------|---|----------------------------------------------------------------------|
|   | + | other executive titles as approved by the Management      Committee. |

----

| 8.6 | Powers      and obligations of the ManagementTeam |
|-----|---------------------------------------------------|

|          8.6.1 | The      Director General shall be the chief executive officer of the      Business.  The Director General shall have general supervision      of the affairs of the Business, and shall perform all other duties as are      incident to the office or which are properly required of the Director      General by the ManagementCommittee. |
|-------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | The      Director General shall be empowered to approve all actions, execute all      documents and take such other action as necessary to operate and manage      the Business and which is deemed within the ordinary course of      business. |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              8.6.2 | The      Deputy Director General shall exercise all the functions of the Director      General in the absence or disability of the Director      General.  Each Deputy Director General shall have such powers      and discharge such duties as may be assigned to such officer from time to      time by the Management Committee. |
|-------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|              8.6.3 | The      Chief Accountant shall have the care and custody of all moneys of the      Business and shall keep regular books of account.  The Chief      Accountant shall disburse the funds of the Business in payment of the just      demands against the Business or as may be ordered by the Management      Committee in accordance with the requirements of Article  9. |
|-------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      9: | Accounting      System |
|-----------------|------------------------|

| 9.1 | Accounting      System of the Business Cooperation Agreement including Chief Accountant      and accountants (if any) shall be appointed by Party B in compliance with      the regulations of Vietnamese laws. The powers and responsibilities of the      Chief Accountant and accountants (if any) shall be determined by the      Director in accordance with the Laws on accounting of Vietnam and other      relevant legal documents. |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.2 | The      accounting and reporting system to be adopted and maintained by the      Business Cooperation Agreement and in relation to its financial affairs      shall be established and decided by Party B in conformity with the      Vietnamese accounting principles, standards and  practices; |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.3 | All      books of account shall, subject to Ministry of Finance approval, be      entered and kept in the English and Vietnamese languages and in Vietnamese      Dong and/or United States Dollars. All conversions required for such      purpose shall be made in accordance with the basic exchange rate issued by      the State Bank of Vietnam at the time of  transaction; |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 9.4 | All      activities relating to Business Cooperation Agreement must be accounted      separately from any other activities of the Parties and kept separately in      the accounting system and accounting record of Party  B; |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article      10: | Bank      Accounts |
|------------------|--------------------|

| 10.1 | The      parties shall open a Joint Account for the purpose of Investment      Contribution for the Project (if any) which may be of any nature whether      denominated in Vietnamese or foreign currency and whether current, deposit      or otherwise. Such Joint Account may be at a branch of a foreign bank in      Vietnam or a joint venture bank between a foreign bank and a Vietnamese      bank or a Vietnamese bank as the Parties may agree from time to      time; |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 10.2 | The      Joint Account shall be opened in accordance with the decisions of the      BusinessCooperationAgreement; |
|------|-------------------------------------------------------------------------------------------------------------------|

| 10.3 | Party      B shall be responsible for receipt of all revenue and payment of all      expenses associated with the operation of INFO.VN, subject to the      requirements of Article 12.2 and 12.3  and shall keep financial      records in accordance with Article 9 and14; |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      11: | Fiscal    Year |
|------------------|----------------|

----

| Article      12: | Revenues and Joint      Expenditures |
|------------------|--------------------------------------|

| 12.1 | Subject      to as provided in this Article, the Parties shall jointly conduct the      business operations and all Revenues generated by the Business shall be      booked in accordance with the Adopted Accounting  System. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12.2 | Revenues      shall mean any and all revenue generated by the Business, including but      not limited to revenues receivedfrom: |
|------|----------------------------------------------------------------------------------------------------------------------------------|

|   | - | Revenues      generated by the activity of providing product and  service |
|--------|---|---------------------------------------------------------------------------|

|   | - | Revenues      generated by finance activity |
|--------|---|---------------------------------------------|

|   | - | Revenues      generated by asset liquidation |
|--------|---|----------------------------------------------|

|   | - | Other      revenues (if any) |
|--------|---|------------------------------|

| 12.3   | Joint      Expenditures of the Business shallinclude: |
|------------------|-------------------------------------------------------|

|   | (a) | operational      expenditures of the Business, including but not limited to, utilities,      rent or sales commissions |
|--------|-----|------------------------------------------------------------------------------------------------------------------------|

|   | (b) | insurance      costs related to the Business |
|--------|-----|----------------------------------------------|

|   | (c) | repair      and maintenance of equipment, buildings and other assets of the Business      except for supplier’s warranties; |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------|

|   | (d) | Salaries,      benefits and other compensation due to the Employees, excluding members of      the Management Committee, according to the joint salary    scale; |
|--------|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | interest      on any debt incurred by the Parties in connection with the      Business; |
|--------|-----|-----------------------------------------------------------------------------------------|

|   | (f) | fees,      costs and expenses arising out of baddebt; |
|--------|-----|-------------------------------------------------------|

|   | (g) | import      and export taxes, value add tax to be paid for the Business, customs      duties of the Business; |
|--------|-----|---------------------------------------------------------------------------------------------------------------|

|   | (h) | communication      expenses of the Business; |
|--------|-----|----------------------------------------------|

|   | (i) | costs      of office appliances or officesupplies; |
|--------|-----|----------------------------------------------------|

|   | (j) | Legal      fees, documentation and consulting fee for obtaining the Licenses and      other professional fees including external consulting and advisory      services. |
|--------|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (k) | Other      miscellaneous Business expenses agreed to be necessary by the Management      Committee. |
|--------|-----|-----------------------------------------------------------------------------------------------------|

----

| 12.4     | Unless      otherwise agreed by the Parties, expenditures or costs arising out of or      in relation to the Business not otherwise listed in Article 12.3 above      shall be borne by the Party incurring such expenditure or      cost. |
|------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      13: | Profits,Distribution of Profits and      Settlement of Loss |
|------------------|-------------------------------------------------------------|

| 13.1 | Profits      and Distribution of Profits: |
|------|-------------------------------------------|

| Parties to the Business      Cooperation |   | Distribution ratio |   |
|------------------------------------------|--------|--------------------|--------|
|                                     |   |               |   |
| Party      A                             |   |               | [75    | %] |
|                                     |   |               |   |   |
| Party      B                             |   |               | [25    | %] |

| 13.2 | Repatriated      Profits |
|------|--------------------------|

|   | (a) | Party      A may at their election transfer annually profits derived from the direct      investment activities in Vietnam to its country of origin at the end of      the fiscal year provided that Party B has complied with all financial      obligations to the State Vietnam under the provisions of law, has filed      all the audited financial statements and settled all declarations of      corporate income tax for the fiscal year directly to the tax      administration agency. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (b) | Party      A may at their election transfer profits abroad upon termination of direct      investment activities in Vietnam provided that Party B has complied with      all financial obligations to the State of Vietnam under the provisions of      law, has filed all the audited financial statements and settlement all      declarations of corporate income tax for the fiscal year directly to the      tax administration agency and fully met obligations under the provisions      of the Tax Administration Law. |
|--------|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (c) | Party      A authorizes Party B to provide notice of the transfer of profits abroad      in the form submitted to its directly managed tax offices, before making      the transfer of profits abroad for at least 07 working    days. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | (d) | Repatriated      Profits due to Party A at the end of the fiscal year from the direct      investment activities shall be based on (i) profit reported on audited      financial statements and/or the declaration of income tax filed by Party      B; (ii) plus any unpaid profits from prior periods; (iii) minus any      amounts Party A has committed to use for reinvestment in Vietnam; (iv)      minus any accrued business expenses related to Party A’s involvement in      the Project |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (e) | Repatriated      Profits due to Party A upon termination of investment activities in      Vietnam shall be based on total profits earned in the process of direct      investment in Vietnam; (ii) minus profits used for reinvestment, the      profits were transferred abroad in the course of activities of Party A in      Vietnam and the amounts used for other expenditures of Party A in      Vietnam. |
|--------|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (f) | Party      A may not transfer abroad the profits that are distributed or obtained      from direct investment activities in Vietnam wherein the financial      statements show a profit for the year but reflects accumulated losses      after giving effect to the loss transfer provisions of the Law on      Corporate Income Tax. |
|--------|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | (g) | Accounts      received profits transferred abroad by Party A as  follows: |
|--------|-----|---------------------------------------------------------------------------|

|   | USD      currency account number: |
|--------|-----------------------------------|

|   | Bank: |
|--------|-------|

|   | Address: |
|--------|----------|

|   | Swift      Code: |
|--------|------------------|

|   | Name      of Beneficiary: DOT VN INC., |
|--------|----------------------------------------|

|   | Party      A may at any time change in its sole and absolute    discretion. |
|--------|-----------------------------------------------------------------------------|

| 13.3 | Loss      Settlement: |
|------|-----------------------|

| Article      14: | Financial Statements and      Audited Accounts |
|------------------|------------------------------------------------|

| 14.1 | Financial      statements and accounting records prepared by the Chief Accountant shall      be in conformity with the Adopted Accounting System, and shall reflect and      record the true and fair position of the  Business; |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.2 | The      Chief Account shall provide monthly, quarterly, semi-annual and annual      financial statements and accounting records to the Management Committee      for approval. The Management Committee shall approve the quarterly,      semi-annual and annual records. Upon approval by the Management Committee      copies of the quarterly, semi-annual and annual financial statements and      accounting records shall be provided to the  Parties; |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 14.3 | The      Chief Accountant shall prepare working capital management plans for review      and approval by the ManagementCommittee; |
|------|-----------------------------------------------------------------------------------------------------------------------------------|

| 14.4 | As      may be required by Vietnamese laws, periodical financial statements and      accounting records for the Business shall be submitted to the competent      State agencies; |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.5 | The      Chief Accountant will at the end of each Fiscal Year prepare year end      financial statements and accounting records for that year, together with      notes explaining the accounts in reasonable detail, which shall together      with the books of account of the Business be audited by an independent      auditor; |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.6 | The      quarterly financial statements and accounting records prepared by the      Chief Accountant shall be reviewed by an independent auditor in accordance      with the accounting procedures determined by the Management      Committee; |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.7 | The      audited accounts prepared for each Fiscal Year shall be submitted to the      competent State agencies in accordance with relevant Vietnamese      regulation; |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 14.8 | The      fees of and expenses incurred by the independent auditor shall constitute      a Joint Expenditure. |
|------|--------------------------------------------------------------------------------------------------------------|

| Article      15: | Taxes |
|------------------|-------|

| Article      16: | Labour      Policies |
|------------------|----------------------|

| 16.1 | Party      B shall employ all staff and labour (“Employees”) necessary to conduct the      Business; |
|------|------------------------------------------------------------------------------------------------------------------|

| 16.2 | The      number, qualifications, salary, compensation and expenses of the Employees      necessary to operate the Business efficiently and effectively shall be      determined by the ManagementCommittee; |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 16.3 | The      Parties will comply in all respects with the Laws of Vietnam relating to      labour matters affecting Employees; |
|------|----------------------------------------------------------------------------------------------------------------------------|

| 16.4 | The      Business shall reimburse Party B for its actual cost to provide Employees      to include, but not limited to, taxes and  insurance |
|------|----------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article      17: | Force      Majeure |
|------------------|--------------------|

| 17.1 | To      the extent that a Force Majeure Event shall prevent directly or indirectly      performance by a Party of any of its obligations under this Agreement such      obligation shall be suspended and that Party shall to that extent not be      responsible for any resulting delay, damages or losses in relation to such      performance. This shall be subject to the Party affected taking all      reasonable measures to overcome or circumvent the Force Majeure Event,      informing the other Party immediately the Force Majeure Event comes to its      notice and within fifteen (15) days giving notice to the other Party      (supported where appropriate by confirmation of the relevant authorities      at the place of occurrence) with brief particulars of the Force Majeure      Event and the measures being taken to remedy the  same; |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.2 | The      Parties agree that both Parties shall take appropriate measures to avert      or ameliorate the consequence of a Force Majeure  Event; |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------|

| 17.3 | If      a Force Majeure Event has prevented and continues to prevent      implementation of INFO.VN project or the carrying on of the Business or      the greater part of the Business for a continuous period of more than 90      (ninety) days, then that shall be a ground for termination of this      Agreement pursuant to Article 21below. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      18: | Dispute      resolution |
|------------------|-------------------------|

| 18.1 | The      Parties shall use their best efforts to settle amicably through      negotiations any Dispute; |
|------|---------------------------------------------------------------------------------------------------------|

| 18.2 | If      notwithstanding such best efforts any Party considers at any time that a      Dispute exists, which it is not possible to settle amicably through      negotiations, such Party may give a notice of such Dispute (“Notice of      Dispute”) to the other Party and giving brief particulars of the Dispute.      If such Dispute is not settled through further negotiations within thirty      (30) days of the date of service of such Notice of Dispute, it shall be      referred to the competent court ofVietnam; |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.3 | The      judgment of competent court shall be final and binding upon the Parties      and the losing Party shall pay the costs of the arbitration unless      otherwise determined by the panel. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 18.4 | During      and without prejudice to the court process, this Agreement shall continue      to be performed. |
|------|-------------------------------------------------------------------------------------------------------------|

| Article      19: | Duration –      Effect |
|------------------|------------------------------|

| 19.1 | The      initial Term of this Agreement, the Business Cooperation Agreement, shall      be for a period of 50 (fifty) years from the effective date of this      Agreement; |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 19.2     | Not      later than 06 (six) months before expiration of the Term the Parties will,      unless otherwise agreed between them in writing, agree to extend the Term      of this Agreement for another term of 50 (fifty)  years. |
|------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article      20: | Termination resulting from a      Default by a Party |
|------------------|------------------------------------------------------|

| 20.1 | commits      a breach of its obligations under this Agreement that has a material      adverse effect on the Business, or the other Party;  or |
|------|------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.2 | has      an insolvency or bankruptcy order or an order analogous to an insolvency      or bankruptcy order or having a substantially similar effect made against      it; or |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 20.3 | is      determined by a competent court under Article 18 to have committed or      suffered an event of default as above;or |
|------|-----------------------------------------------------------------------------------------------------------------------------|

| 20.4 | fails      to comply with a decision issued by the Management Committee within its      competence as regulated in Article8.4.; |
|------|---------------------------------------------------------------------------------------------------------------------------------|

| Article      21: | Termination not arising from a      Default by a Party |
|------------------|--------------------------------------------------------|

| 21.1 | If      at least one of the following categories of continuing events has occurred      and iscontinuing either Party may give notice to the other Party      identifying the event sodetermined and notifying the other Party that it      wishes to terminate this Agreement: |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                21.1.1 | enactment,      application or interpretation of any law in Vietnam the effect of which is      to nationalise or expropriate or enforce disposal of all or any of the      assets of the Business Cooperation Agreement or of a Party or impose a      reduction of a Party' share of the investment capital actually invested or      its Revenues share; or to prevent or render impracticable or significantly      more onerous the performance by a Party of its obligations under this      Agreement or to affect materially and adversely, directly or indirectly,      any of the rights or economic benefits of a Party under this      Agreement; |
|--------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                21.1.2 | any      changes in circumstance whether of a legal nature or in the viability or      suitability of the terms and conditions of this Agreement, the Business      Plan, Financial Projection which make the continuation of the Business and      implementation of this Agreement economically or legally      unfeasible; |
|--------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                21.1.3 | an      event occurs which under the Laws of Vietnam entitles a Party to terminate      this Agreement; |
|--------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|

----

|                21.1.4 | a      Force Majeure Event has prevented and continues to prevent implementation      of the Business or the greater part of the Business for a continuous      period of more than 90 (ninety)days; |
|--------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 21.2 | This      Agreement shall terminate automatically on the occurrence of any of the      following events: |
|------|----------------------------------------------------------------------------------------------------------|

|                21.2.1 | the      Parties agree in writing to terminate this Agreement;  or |
|--------------------------------------------------------------------|--------------------------------------------------------------------|

|                21.2.2 | a      judgment is made in accordance with Article 18 of this Agreement which      directs that this Agreement be terminated in circumstances otherwise than      after an Event of Default. |
|--------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      22: | Termination      Procedure |
|------------------|----------------------------|

| 22.1 | In      case of early termination pursuant to Article 20 or 21, the Management      Committee shall immediately proceed with the termination      procedure |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                22.1.1 | In      the case of termination by default of Party A, all further obligations of      Party B under this Agreement shall thereupon terminate, except that Item      4.5.3, 18, and 23 shall survive and Party B’s right to pursue all legal      remedies shall survive the termination of this Agreement unimpaired.      Further, upon default by Party A, all assets owned by Party A must be      removed within 6 months; provided, however that Party B may, at its      election, decide to purchase all assets owned by Party A at the aggregate      fair market value of such assets agreed to by both parties, as of the date      of default, upon written notice to Party A and receipt by Party A of      payment equal to the aggregate fair market value of such assets. Further,      Party B shall be entitled to liquidate damages determined by the following      formula: |
|--------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (Total      Net Profit for the last 12 months) | x    (25%)     x | (the      number of months remaining in the Term) |
|------------------------------------------------|---------------------------------------------------------------|---------------------------------------------------|
|                                           | 12                                                            |                                              |

----

|                22.1.2 | In      the case of termination by default of the Party B: all further obligations      of Party A under this Agreement shall thereupon terminate, except that      Item 4.5.3, 18 and 23 shall survive and Party A’s right to pursue all      legal remedies shall survive the termination of this Agreement unimpaired.      Further, upon default by Party B, all assets owned by Party A may be      removed within 6 months; provided, however that Party A may, at its      election, require Party B to purchase all assets owned by Party A at the      aggregate fair market value of such assets agreed to by both parties, as      of the date of default, upon written notice to Party B and receipt by      Party A of payment equal to the aggregate fair market value of such      assets. Further, Party A shall be entitled to liquidate damages determined      by the following formula: |
|--------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Total      Net Profit for the last 12 months) | x     (75%)     x | (the      number of months remaining in the Term) |
|-----------------------------------------------|---------------------------------------------------------------------|---------------------------------------------------|
|                                          | 12                                                                  |                                              |

|                22.1.3 | In      the case of termination not arising from a default of a Party: The parties      shall agree the distribution of Project value at the termination moment to      each Party in proportion to its capital contribution by the liquidation in      favor of a Party or a third Party or under other agreement (if      any). |
|--------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                22.1.4 | During      the term of the Business Cooperation Agreement or at anytime prior to the      effective termination of the Agreement pursuant to Articles 18, 20 or 21      in the event of a proceeding, claim or lawsuit not arising from a breach      by either Party which results in damages to be paid by the Parties under      the decision of a court of competent jurisdiction, then the Parties shall      be responsible for such damages in proportion to capital contribution of      each Party. |
|--------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      23: | Confidentiality |
|------------------|-----------------|

| 23.1 | Such      disclosure of such information is legally required or requested by any      Government regulatory agency of each Party;or |
|------|-------------------------------------------------------------------------------------------------------------------------------------|

| 23.2 | The      disclosure of information is made to professional advisers of such Party      or to the personnel or affiliates of that Party provided that such      disclosure is made by way of signing a confidentiality agreement, and      those to whom such disclosure is undertaken to abide by the confidential      provisions as set out in this Agreement;or |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 23.3 | The      confidential information disclosed by the disclosing Party belongs to the      public domain. |
|------|--------------------------------------------------------------------------------------------------------|

| 23.4 | Public      announcement: Each Party agrees that it will not make public announcement      any of | the      discussions in relation to this Agreement, Business Plan or any related      information under any form whether a press release or otherwise without      prior discussion and prior consent in writing of the other      Party; |
|------|---------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 23.5 | Confidentiality effect: Despite      the fact that this Agreement could be terminated in any case, the parties      agree that the provisions of confidentiality still remain in effect and      have binding value on the Parties for 03 (three) years from the      termination of this Agreement. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      24: | Governing      Laws |
|------------------|---------------------|

| 24.1 | This      Agreement is made and construed in accordance with the Law of the      Socialist Republic of Vietnam; |
|------|-----------------------------------------------------------------------------------------------------------------|

| 24.2 | Any      matters for which this Agreement makes no provision shall be dealt with in      accordance with the Law on Investment and any relevant stipulations of the      Licenses and provisions of the Law of the Socialist Republic of Vietnam      shall apply to the interpretationthereof. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      25: | Insurance |
|------------------|-----------|

| Article      26: | Liquidation |
|------------------|-------------|

| 26.1 | Upon      the expiration or early termination of the Agreement, the Business      Cooperation Agreement shall appoint a Liquidation Committee and carry out      the procedures for liquidation of the properties of the Business      Cooperation Agreement in compliance with relevant laws. Within at least 30      (thirty) days prior to expiration of the Agreement or within 30 (thirty)      days since the date of issuance of a decision on early termination of the      Agreement, the Management Committee      shall set up the Liquidation Committee and define concrete      responsibilities of the Liquidation Committee. Members of the Liquidation      Committee may be selected from the Business Cooperation Agreement’s staffs      or experts from outside. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26.2 | After      the full repayment of debts, the residual assets of the Business      Cooperation Agreement, including the residual funds in the depreciation      account, reserve fund, and other funds of the Business Cooperation      Agreement, shall be distributed to the Parties in proportion to their      share in the capital contribution. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 26.3 | After      the completion of the liquidation, the Management Committee shall present      a report on the liquidation and settlement of accounts to the Authorities.      The Business Cooperation | Agreement      shall also go through procedures for the cancellation of registration at      local competent authority and return the Licenses for      cancellation. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article      27: | Representations and      Covenants |
|------------------|------------------------------------|

| 27.1 | Each      of the Parties makes the following representations and covenants to the      other Party concerning itself and its participation in this      Agreement: |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                27.1.1 | It      has the legal capacity and power to enter into this    Agreement; |
|--------------------------------------------------------------------|---------------------------------------------------------------------------|

|                27.1.2 | It      has obtain all consents, permits and Licenses, approval and authorizations      necessary to enter into thisAgreement; |
|--------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------|

|                27.1.3 | This      Agreement constitutes lawful, valid and binding obligations enforceable      against it in accordance with the terms and conditions of this      Agreement; |
|--------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                27.1.4 | It      will develop, maintain and operate the Business Cooperation Agreement in      accordance with the Laws of Vietnam and within the requirements of Vietnam      national security; |
|--------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                27.1.5 | It      will act diligently, in good faith and honestly in performing its      responsibilities and discharging its obligation  hereunder; |
|--------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------|

|                27.1.6 | It      shall fulfill all of its financial obligations to the Government in      accordance with the Law on Investment and other laws of Vietnam, as      stipulated in this Agreement and the Licenses,  and |
|--------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|                27.1.7 | Each      Party shall not be liable to discharge the other Party’s      obligation; |
|--------------------------------------------------------------------|-------------------------------------------------------------------------------------------|

|                27.1.8 | Each      Party and its affiliates shall fully perform its obligation on      contribution of investment capital to the Business as described in Article      4 subject to the terms and conditions in the  Agreement. |
|--------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 27.2 | If      any above representation and covenants are false or inaccurate in any      respect, it will constitute a breach by that Party of this Agreement to      the extent that it has a material adverse effect on the Business      Cooperation Agreement. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| Article      28: | Notices |
|------------------|---------|

| 28.1 | Notice      to a Party and to a member of the Management Committee must be given in      writing and must be delivered by hand or sent by  registered or      guaranteed mail for domestic delivery or by internationally recognized      express mail service company for internationally delivery or by facsimile      transmission to its or his legaladdress. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 28.2 | The      legal address for each Party is its legal address and address for      receiving notices and fax number given in Part I of this Agreement or such      other legal address and fax number of which the Party shall have given      notice in accordance with this Article to the other Parties and which it      shall have registered with MPI. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 28.3 | The      legal address for a member of the Management Committee shall be his/her      address for receiving notices and fax number of which notice shall have      been given to all the Parties in accordance with this    Article. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 28.4 | Any      notice shall be deemed to have been given on the day of delivery by hand      or acknowledged facsimile transmission or on the date of receipt if sent      by registered or guaranteed mail or internationally recognized express      mail service company unless in any such case that day is a non-working day      including a Sunday or a public holiday in the country of the receiver in      which case the notice shall be deemed to have been given on the next      working day. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Article      29: | Languages and      Copies |
|------------------|---------------------------|

| 29.1 | Languages:      This Agreement is made in two languages of equal validity, English and      Vietnamese. In the event that there is any misunderstanding between the      English version and the Vietnamese version, the Parties agree to refer to      the English version. |
|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 29.2 | This      Agreement shall be made in four originals of equal validity, in English      and in Vietnamese. |
|------|-----------------------------------------------------------------------------------------------------------|

| Article      30: | General      Matters |
|------------------|----------------------|

| 30.1 | This      Agreement constitutes the entire agreement and understanding of the      Parties in relation to the subject matter thereof and supersedes all      previous understandings between them whether written or oral which are      hereby declared to be null andavoid. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30.2 | No      amendment or variation of/or supplement to this Agreement shall be valid      unless it is in writing and signed by or on behalf of each of the Parties      hereto and (where such approval is required) approved by relevant State      agencies. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30.3 | No      provision of this Agreement will be considered waived unless the waiver is      in writing and signed on behalf of the person waiving the provision and      approval from the other party. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30.4 | Save      as expressly provided to the contrary, the rights and remedies provided      under this Agreement are cumulative and not exclusive of any rights and      remedies provided by law. |
|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| 30.5 | Where      no time is specified in this Agreement within which any obligation shall      be performed, such obligation shall be performed without unreasonable      delay. |
|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30.6 | If      any further document is necessary, each Party undertakes that it will      promptly and duly execute, sign, perfect and deliver (and if required      register) every such further document as in the reasonable opinion of the      other Party may be required for the purpose of more effectively carrying      out the intent and purpose of this Agreement, the Business Plan and      Financial Projection. |
|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30.7 | This      is commercial Agreement between the Parties, in a legal action between the      Parties (including in any arbitration, pursuant to Article 18 above) no      Party will raise the defense that it cannot be sued by the other Party      because it is government owned or because the Agreement is a government      Agreement. Each Party waives any immunity or privilege to which it may be      entitled. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30.8 | Any      obligation herein expressed or implied to obtain approval, Licenses or      permit of relevant State agencies shall remain in force for so long only      as such approval, Licenses or permit shall be required by the Law of      Vietnam. |
|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 30.9 | If      any provision of this Agreement shall be held invalid or unenforceable,      the same shall not in any way whatsoever affects the enforceability or      validity of the remainder of thisAgreement. |
|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| FOR      AND ON BEHALF OF             |   |   | FOR      AND ON BEHALF OF                         |
|---------------------------------------|--------|--------|---------------------------------------------------|
|                                  |   |   |                                              |
| DOT      VN, INC.                     |   |   | VIETNAM TELECOMMUNICATIONS AND      INTERNET, JSC |
|                                  |   |   |                                              |   |
|                                  |   |   |                                              |   |
| /s/      Lee Johnson                  |   |   | /s/      Ngoc Anh Ung                             |   |
| Name:  Mr.      Lee Johnson |   |   | Name:      Ms. Ngoc Anh Ung                       |   |
| Position:  President        |   |   | Position:      General Director                   |   |

----