Document:

Exhibit
        4.4

       

      EXHIBIT
        A

       

      NEITHER
        THESE SECURITIES NOR THE SECURITIES FOR WHICH THESE SECURITIES ARE EXERCISABLE
        HAVE BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION OR THE
        SECURITIES COMMISSION OF ANY STATE IN RELIANCE UPON AN EXEMPTION FROM
        REGISTRATION UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES
        ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD EXCEPT PURSUANT TO AN
        EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OR PURSUANT TO
        AN
        AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION
        REQUIREMENTS OF THE SECURITIES ACT AND IN COMPLIANCE WITH APPLICABLE STATE
        SECURITIES OR BLUE SKY LAWS. THESE SECURITIES AND THE SECURITIES ISSUABLE
        UPON
        EXERCISE OF THESE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE
        MARGIN ACCOUNT OR OTHER LOAN SECURED BY SUCH SECURITIES.

      

       

      GENEREX
        BIOTECHNOLOGY CORPORATION.

       

      WARRANT
        

       

      
        	
                Warrant
                  No. [  ]

              	
                Dated:
                  June 1, 2006

              

      

       

      Generex
        Biotechnology Corporation, a Delaware corporation (the “Company”),
        hereby certifies that, for value received, [Name of Holder] or its registered
        assigns (the “Holder”),
        is
        entitled to purchase from the Company up to a total of
        [         ]1 
        shares
        of common stock, $0.001 par value per share (the “Common
        Stock”),
        of
        the Company (each such share, a “Warrant
        Share”
and
        all
        such shares, the “Warrant
        Shares”)
        at an
        exercise price equal to $2.35 per share (as adjusted from time to time as
        provided in Section
        9,
        the
“Exercise
        Price”),
        at
        any time and from time to time from and after the date hereof and through
        and
        including the date that is five years from the date of issuance hereof (the
        “Expiration
        Date”),
        and
        subject to the following terms and conditions. This Warrant (this “Warrant”)
        is one
        of a series of similar warrants issued pursuant to that certain Securities
        Purchase Agreement, dated as of June 1, 2006, by and among the Company and
        the
        Purchasers identified therein (the “Purchase
        Agreement”).
        All
        such warrants are referred to herein, collectively, as the “Warrants.”

       

      1.
         Definitions.
        In
        addition to the terms defined elsewhere in this Warrant, capitalized terms
        that
        are not otherwise defined herein have the meanings given to such terms in
        the
        Purchase Agreement.

       

      
        
          

        

      

      1 Equal
        to
        the amount of warrants exercised under acceleration letter dated June 1,
        2006.

      
        
           

        

        
           

          
            

          

        

        
           

        

      

      2.
         Registration
        of Warrant.
        The
        Company shall register this Warrant, upon records to be maintained by the
        Company for that purpose (the “Warrant
        Register”),
        in
        the name of the record Holder hereof from time to time. The Company may deem
        and
        treat the registered Holder of this Warrant as the absolute owner hereof
        for the
        purpose of any exercise hereof or any distribution to the Holder, and for
        all
        other purposes, absent actual notice to the contrary.

       

      3.
         Registration
        of Transfers.
        The
        Company shall register the assignment and transfer of any portion of this
        Warrant in the Warrant Register, upon surrender of this Warrant, with the
        Form
        of Assignment attached hereto on Annex
        B
        duly
        completed and signed, to the Transfer Agent or to the Company at its address
        specified herein. Upon any such registration or transfer, a new warrant to
        purchase Common Stock, in substantially the form of this Warrant (any such
        new
        warrant, a “New
        Warrant”),
        evidencing the portion of this Warrant so transferred shall be issued to
        the
        transferee and a New Warrant evidencing the remaining portion of this Warrant
        not so transferred, if any, shall be issued to the transferring Holder. The
        acceptance of the New Warrant by the transferee thereof shall be deemed the
        acceptance by such transferee of all of the rights and obligations of a holder
        of a Warrant.

       

      4.
         Exercise
        and Duration of Warrants.

       

      (a)
         This
        Warrant shall be exercisable by the registered Holder at any time and from
        time
        to time on or after the date hereof to and including the Expiration Date.
        At
        6:30 P.M., New York City time on the Expiration Date, the portion of this
        Warrant not exercised prior thereto shall be and become void and of no value;
        provided that, if the average of the Closing Prices for the five Trading
        Days
        immediately prior to (but not including) the Expiration Date exceeds the
        Exercise Price on the Expiration Date, then this Warrant shall be deemed
        to have
        been exercised in full (to the extent not previously exercised) on a “cashless
        exercise” basis at 6:30 P.M. New York City time on the Expiration Date if a
“cashless exercise” may occur at such time pursuant to Section 10 below.
        Notwithstanding anything to the contrary herein, the Expiration Date shall
        be
        extended for each day following the Effective Date that the Registration
        Statement is not effective. 

       

      (b)
         A
        Holder
        may exercise this Warrant by delivering to the Company (i) an exercise notice,
        in the form attached hereto on Annex
        A
        (the
“Exercise
        Notice”),
        appropriately completed and duly signed, and (ii) payment of the Exercise
        Price for the number of Warrant Shares as to which this Warrant is being
        exercised (which may take the form of a “cashless exercise” if so indicated in
        the Exercise Notice and if a “cashless exercise” may occur at such time pursuant
        to this Section 10 below), and the date such items are delivered to the Company
        (as determined in accordance with the notice provisions hereof) is an
“Exercise
        Date.”
The
        Holder shall not be required to deliver the original Warrant in order to
        effect
        an exercise hereunder. Execution and delivery of the Exercise Notice shall
        have
        the same effect as cancellation of the original Warrant and issuance of a
        New
        Warrant evidencing the right to purchase the remaining number of Warrant
        Shares.

       

      
        5.
           Delivery
          of Warrant Shares.
          

         

        (a)
           Upon
          exercise of this Warrant, the Company shall promptly (but in no event later
          than
          three Trading Days after the Exercise Date) issue or cause to be issued
          and
          cause to be delivered to or upon the written order of the Holder and in
          such
          name or names as the Holder may designate, a certificate for the Warrant
          Shares
          issuable upon such exercise, free of restrictive legends unless a registration
          statement covering the resale of the Warrant Shares and naming the Holder
          as a
          selling stockholder thereunder is not then effective and the Warrant Shares
          are
          not freely transferable without volume restrictions pursuant to Rule 144
          under
          the Securities Act. The Holder, or any Person so designated by the Holder
          to
          receive Warrant Shares, shall be deemed to have become holder of record
          of such
          Warrant Shares as of the Exercise Date. The Company shall, upon request
          of the
          Holder, use its best efforts to deliver Warrant Shares hereunder electronically
          through the Depository Trust Corporation or another established clearing
          corporation performing similar functions.

         

      

      
        
           

        

        
          2

          
            

          

        

        
           

        

      

      (b)
         This
        Warrant is exercisable, either in its entirety or, from time to time, for
        a
        portion of the number of Warrant Shares. Upon surrender of this Warrant
        following one or more partial exercises, the Company shall issue or cause
        to be
        issued, at its expense, a New Warrant evidencing the right to purchase the
        remaining number of Warrant Shares.

       

      (c)
         In
        addition to any other rights available to a Holder, if the Company fails
        to
        deliver to the Holder a certificate representing Warrant Shares by the third
        Trading Day after the date on which delivery of such certificate is required
        by
        this Warrant, and if after such third Trading Day the Holder purchases (in
        an
        open market transaction or otherwise) shares of Common Stock to deliver in
        satisfaction of a sale by the Holder of the Warrant Shares that the Holder
        anticipated receiving from the Company (a “Buy-In”),
        then
        the Company shall, within three Trading Days after the Holder’s request and in
        the Holder’s discretion, either (i) pay cash to the Holder in an amount equal to
        the Holder’s total purchase price (including brokerage commissions, if any) for
        the shares of Common Stock so purchased (the “Buy-In
        Price”),
        at
        which point the Company’s obligation to deliver such certificate (and to issue
        such Common Stock) shall terminate, or (ii) promptly honor its obligation
        to
        deliver to the Holder a certificate or certificates representing such Common
        Stock and pay cash to the Holder in an amount equal to the excess (if any)
        of
        the Buy-In Price over the product of (A) such number of shares of Common
        Stock,
        times (B) the Closing Price on the date of the event giving rise to the
        Company’s obligation to deliver such certificate.

       

      (d)
         The
        Company’s obligations to issue and deliver Warrant Shares in accordance with the
        terms hereof are absolute and unconditional, irrespective of any action or
        inaction by the Holder to enforce the same, any waiver or consent with respect
        to any provision hereof, the recovery of any judgment against any Person
        or any
        action to enforce the same, or any setoff, counterclaim, recoupment, limitation
        or termination, or any breach or alleged breach by the Holder or any other
        Person of any obligation to the Company or any violation or alleged violation
        of
        law by the Holder or any other Person, and irrespective of any other
        circumstance which might otherwise limit such obligation of the Company to
        the
        Holder in connection with the issuance of Warrant Shares. Nothing herein
        shall
        limit a Holder’s right to pursue any other remedies available to it hereunder,
        at law or in equity including, without limitation, a decree of specific
        performance and/or injunctive relief with respect to the Company’s failure to
        timely deliver certificates representing shares of Common Stock upon exercise
        of
        the Warrant as required pursuant to the terms hereof.

       

      
        
           

        

        
          3

          
            

          

        

        
           

        

      

      6.
         Charges,
        Taxes and Expenses.
        Issuance and delivery of certificates for shares of Common Stock upon exercise
        of this Warrant shall be made without charge to the Holder for any issue
        or
        transfer tax, withholding tax, transfer agent fee or other incidental tax
        or
        expense in respect of the issuance of such certificates, all of which taxes
        and
        expenses shall be paid by the Company; provided, however, that the Company
        shall
        not be required to pay any tax which may be payable in respect of any transfer
        involved in the registration of any certificates for Warrant Shares or Warrants
        in a name other than that of the Holder or an Affiliate thereof. The Holder
        shall be responsible for all other tax liability that may arise as a result
        of
        holding or transferring this Warrant or receiving Warrant Shares upon exercise
        hereof.

       

      7.
         Replacement
        of Warrant.
        If this
        Warrant is mutilated, lost, stolen or destroyed, the Company shall issue or
        cause to be issued in exchange and substitution for and upon cancellation
        hereof, or in lieu of and substitution for this Warrant, a New Warrant, but
        only
        upon receipt of evidence reasonably satisfactory to the Company of such loss,
        theft or destruction and customary and reasonable indemnity, if
        requested.

       

      8.
         Reservation
        of Warrant Shares.
        The
        Company covenants that it will at all times reserve and keep available out
        of
        the aggregate of its authorized but unissued and otherwise unreserved Common
        Stock, solely for the purpose of enabling it to issue Warrant Shares upon
        exercise of this Warrant as herein provided, the number of Warrant Shares
        which
        are then issuable and deliverable upon the exercise of this entire Warrant,
        free
        from preemptive rights or any other contingent purchase rights of persons
        other
        than the Holder (taking into account the adjustments and restrictions of
        Section
        9).
        The
        Company covenants that all Warrant Shares so issuable and deliverable shall,
        upon issuance and the payment of the applicable Exercise Price in accordance
        with the terms hereof, be duly and validly authorized, issued and fully paid
        and
        nonassessable. The Company will take all such action as may be necessary
        to
        assure that such shares of Common Stock may be issued as provided herein
        without
        violation of any applicable law or regulation, or of any requirements of
        any
        securities exchange or automated quotation system upon which the Common Stock
        may be listed.

       

      9.
         Certain
        Adjustments.
        The
        Exercise Price and number of Warrant Shares issuable upon exercise of this
        Warrant are subject to adjustment from time to time as set forth in this
        Section
        9.

       

      (a)
         Stock
        Dividends and Splits.
        If the
        Company, at any time while this Warrant is outstanding, (i) pays a stock
        dividend on its Common Stock or otherwise makes a distribution on any class
        of
        capital stock that is payable in shares of Common Stock, (ii) subdivides
        outstanding shares of Common Stock into a larger number of shares, or (iii)
        combines outstanding shares of Common Stock into a smaller number of shares,
        then in each such case the Exercise Price shall be multiplied by a fraction
        of
        which the numerator shall be the number of shares of Common Stock outstanding
        immediately before such event and of which the denominator shall be the number
        of shares of Common Stock outstanding immediately after such event. Any
        adjustment made pursuant to clause (i) of this paragraph shall become effective
        immediately after the record date for the determination of stockholders entitled
        to receive such dividend or distribution, and any adjustment pursuant to
        clause
        (ii) or (iii) of this paragraph shall become effective immediately after
        the
        effective date of such subdivision or combination.

       

      
        
           

        

        
          4

          
            

          

        

        
           

        

      

      (b)
         Pro
        Rata Distributions.
        If the
        Company, at any time while this Warrant is outstanding, distributes to holders
        of Common Stock (i) evidences of its indebtedness, (ii) any security (other
        than
        a distribution of Common Stock covered by the preceding paragraph),
        (iii) rights or warrants to subscribe for or purchase any security, or (iv)
        any other asset (in each case, “Distributed
        Property”),
        then
        in each such case the Exercise Price in effect immediately prior to the record
        date fixed for determination of stockholders entitled to receive such
        distribution shall be adjusted (effective on such record date) to equal the
        product of such Exercise Price times a fraction of which the denominator
        shall
        be the average of the Closing Prices for the five Trading Days immediately
        prior
        to (but not including) such record date and of which the numerator shall
        be such
        average less the then fair market value of the Distributed Property distributed
        in respect of one outstanding share of Common Stock, as determined by the
        Company's independent certified public accountants that regularly examine
        the
        financial statements of the Company, (an “Appraiser”).
        In
        such event, the Holder, after receipt of the determination by the Appraiser,
        shall have the right to select an additional appraiser (which shall be a
        nationally recognized accounting firm), in which case such fair market value
        shall be deemed to equal the average of the values determined by each of
        the
        Appraiser and such appraiser. As an alternative to the foregoing adjustment
        to
        the Exercise Price, at the request of the Holder delivered before the 90th
        day
        after such record date, the Company will deliver to such Holder, within five
        Trading Days after such request (or, if later, on the effective date of such
        distribution), the Distributed Property that such Holder would have been
        entitled to receive in respect of the Warrant Shares for which this Warrant
        could have been exercised immediately prior to such record date. If such
        Distributed Property is not delivered to a Holder pursuant to the preceding
        sentence, then upon expiration of or any exercise of the Warrant that occurs
        after such record date, such Holder shall remain entitled to receive, in
        addition to the Warrant Shares otherwise issuable upon such exercise (if
        applicable), such Distributed Property.

       

      (c)
         Fundamental
        Transactions.
        If, at
        any time while this Warrant is outstanding, (i) the Company effects any merger
        or consolidation of the Company with or into another Person, (ii) the Company
        effects any sale of all or substantially all of its assets in one or a series
        of
        related transactions, (iii) any tender offer or exchange offer (whether by
        the
        Company or another Person) is completed pursuant to which holders of Common
        Stock are permitted to tender or exchange their shares for other securities,
        cash or property, or (iv) the Company effects any reclassification of the
        Common
        Stock or any compulsory share exchange pursuant to which the Common Stock
        is
        effectively converted into or exchanged for other securities, cash or property
        (other than as a result of a subdivision or combination of shares of Common
        Stock covered by Section 9(a) above) (in any such case, a “Fundamental
        Transaction”),
        then
        the Holder shall have the right thereafter to receive, upon exercise of this
        Warrant, the same amount and kind of securities, cash or property as it would
        have been entitled to receive upon the occurrence of such Fundamental
        Transaction if it had been, immediately prior to such Fundamental Transaction,
        the holder of the number of Warrant Shares then issuable upon exercise in
        full
        of this Warrant (the “Alternate
        Consideration”).
        The
        aggregate Exercise Price for this Warrant will not be affected by any such
        Fundamental Transaction, but the Company shall apportion such aggregate Exercise
        Price among the Alternate Consideration in a reasonable manner reflecting
        the
        relative value of any different components of the Alternate Consideration.
        If
        holders of Common Stock are given any choice as to the securities, cash or
        property to be received in a Fundamental Transaction, then the Holder shall
        be
        given the same choice as to the Alternate Consideration it receives upon
        any
        exercise of this Warrant following such Fundamental Transaction. In the event
        of
        a Fundamental Transaction, the Company or the successor or purchasing Person,
        as
        the case may be, shall execute with the Holder a written agreement providing
        that:

       

      
        
           

        

        
          5

          
            

          

        

        
           

        

      

      (x)
         this
        Warrant shall thereafter entitle the Holder to purchase the Alternate
        Consideration in accordance with this section 9(c), 

      

      (y) in
        the
        case of any such successor or purchasing Person, upon such consolidation,
        merger, statutory exchange, combination, sale or conveyance such successor
        or
        purchasing Person shall be jointly and severally liable with the Company
        for the
        performance of all of the Company's obligations under this Warrant and the
        Purchase Agreement, and 

      

      (z) if
        registration or qualification is required under the Exchange Act or applicable
        state law for the public resale by the Holder of shares of stock and other
        securities so issuable upon exercise of this Warrant, such registration or
        qualification shall be completed prior to such reclassification, change,
        consolidation, merger, statutory exchange, combination or sale. 

      

      If,
        in
        the case of any Fundamental Transaction, the Alternate Consideration includes
        shares of stock, other securities, other property or assets of a Person other
        than the Company or any such successor or purchasing Person, as the case
        may be,
        in such Fundamental Transaction, then such written agreement shall also be
        executed by such other Person and shall contain such additional provisions
        to
        protect the interests of the Holder as the Board of Directors of the Company
        shall reasonably consider necessary by reason of the foregoing. At the Holder’s
        request, any successor to the Company or surviving entity in such Fundamental
        Transaction shall issue to the Holder a new warrant consistent with the
        foregoing provisions and evidencing the Holder’s right to purchase the Alternate
        Consideration for the aggregate Exercise Price upon exercise thereof. The
        terms
        of any agreement pursuant to which a Fundamental Transaction is effected
        shall
        include terms requiring any such successor or surviving entity to comply
        with
        the provisions of this paragraph (c) and insuring that the Warrant (or any
        such
        replacement security) will be similarly adjusted upon any subsequent transaction
        analogous to a Fundamental Transaction. If any Fundamental Transaction
        constitutes or results in a Change of Control, then at the request of the
        Holder
        delivered before the 90th day after such Fundamental Transaction, the Company
        (or any such successor or surviving entity) will purchase the Warrant from
        the
        Holder for a purchase price, payable in cash within five Trading Days after
        such
        request (or, if later, on the effective date of the Fundamental Transaction),
        equal to the Black-Scholes value of the remaining unexercised portion of
        this
        Warrant on the date of such request.

       

      (d)
         Subsequent
        Equity Sales.

       

      (i) If,
        at
        any time while this Warrant is outstanding, the Company or any Subsidiary
        issues
        additional shares of Common Stock or rights, warrants, options or other
        securities or debt convertible, exercisable or exchangeable for shares of
        Common
        Stock or otherwise entitling any Person to acquire shares of Common Stock
        (collectively, “Common
        Stock Equivalents”)
        at an
        effective net price to the Company per share of Common Stock (the “Effective
        Price”)
        less
        than the Exercise Price (as adjusted hereunder to such date), then the Exercise
        Price shall be reduced to equal the Effective Price. If, at any time while
        this
        Warrant is outstanding, the Company or any Subsidiary issues Common Stock
        or
        Common Stock Equivalents at an Effective Price greater than the Exercise
        Price
        (as adjusted hereunder to such date) but less than the average Closing Price
        over the five Trading Days prior to such issuance (the “Adjustment
        Price”),
        then
        the Exercise Price shall be reduced to equal the product of (A) the Exercise
        Price in effect immediately prior to such issuance of Common Stock or Common
        Stock Equivalents times (B) a fraction, the numerator of which is the sum
        of (1)
        the number of shares of Common Stock outstanding immediately prior to such
        issuance, plus (2) the number of shares of Common Stock which the aggregate
        Effective Price of the Common Stock issued (or deemed to be issued) would
        purchase at the Adjustment Price, and the denominator of which is the aggregate
        number of shares of Common Stock outstanding or deemed to be outstanding
        immediately after such issuance. For purposes of this paragraph, in connection
        with any issuance of any Common Stock Equivalents, (A) the maximum number
        of
        shares of Common Stock potentially issuable at any time upon conversion,
        exercise or exchange of such Common Stock Equivalents (the “Deemed
        Number”)
        shall
        be deemed to be outstanding upon issuance of such Common Stock Equivalents,
        (B)
        the Effective Price applicable to such Common Stock shall equal the minimum
        dollar value of consideration payable to the Company to purchase such Common
        Stock Equivalents and to convert, exercise or exchange them into Common Stock
        (net of any discounts, fees, commissions and other expenses), divided by
        the
        Deemed Number, and (C) no further adjustment shall be made to the Exercise
        Price
        upon the actual issuance of Common Stock upon conversion, exercise or exchange
        of such Common Stock Equivalents.

       

      
        
           

        

        
          6

          
            

          

        

        
           

        

      

      (ii) If,
        at
        any time while this Warrant is outstanding, the Company or any Subsidiary
        issues
        Common Stock Equivalents with an Effective Price or a number of underlying
        shares that floats or resets or otherwise varies or is subject to adjustment
        based (directly or indirectly) on market prices of the Common Stock (a
“Floating
        Price Security”),
        then
        for purposes of applying the preceding paragraph in connection with any
        subsequent exercise, the Effective Price will be determined separately on
        each
        Exercise Date and will be deemed to equal the lowest Effective Price at which
        any holder of such Floating Price Security is entitled to acquire Common
        Stock
        on such Exercise Date (regardless of whether any such holder actually acquires
        any shares on such date).

       

      (iii) Notwithstanding
        the foregoing, no adjustment will be made under this paragraph (d) in respect
        of
        any Excluded Stock.

       

      (e)
         Number
        of Warrant Shares.
        Simultaneously with any adjustment to the Exercise Price pursuant to paragraphs
        (a), (b) or (d) of this Section, the number of Warrant Shares that may be
        purchased upon exercise of this Warrant shall be increased or decreased
        proportionately, so that after such adjustment the aggregate Exercise Price
        payable hereunder for the increased or decreased number of Warrant Shares
        shall
        be the same as the aggregate Exercise Price in effect immediately prior to
        such
        adjustment.

       

      
        
           

        

        
          7

          
            

          

        

        
           

        

      

      (f)
         Calculations.
        All
        calculations under this Section
        9
        shall be
        made to the nearest cent or the nearest 1/100th of a share, as applicable.
        The
        number of shares of Common Stock outstanding at any given time shall not
        include
        shares owned or held by or for the account of the Company, and the disposition
        of any such shares shall be considered an issue or sale of Common
        Stock.

       

      (g)
         Notice
        of Adjustments.
        Upon
        the occurrence of each adjustment pursuant to this Section
        9,
        the
        Company at its expense will promptly compute such adjustment in accordance
        with
        the terms of this Warrant and prepare a certificate setting forth such
        adjustment, including a statement of the adjusted Exercise Price and adjusted
        number or type of Warrant Shares or other securities issuable upon exercise
        of
        this Warrant (as applicable), describing the transactions giving rise to
        such
        adjustments and showing in detail the facts upon which such adjustment is
        based.
        Upon written request, the Company will promptly deliver a copy of each such
        certificate to the Holder and to the Company’s Transfer Agent.

       

      (h)
         Notice
        of Corporate Events.
        If the
        Company (i) declares a dividend or any other distribution of cash, securities
        or
        other property in respect of its Common Stock, including without limitation
        any
        granting of rights or warrants to subscribe for or purchase any capital stock
        of
        the Company or any Subsidiary, (ii) authorizes or approves, enters into any
        agreement contemplating or solicits stockholder approval for any Fundamental
        Transaction or (iii) authorizes the voluntary dissolution, liquidation or
        winding up of the affairs of the Company, then the Company shall deliver
        to the
        Holder a notice describing the material terms and conditions of such
        transaction, at least 20 calendar days prior to the applicable record or
        effective date on which a Person would need to hold Common Stock in order
        to
        participate in or vote with respect to such transaction, and the Company
        will
        take all steps reasonably necessary in order to insure that the Holder is
        given
        the practical opportunity to exercise this Warrant prior to such time so
        as to
        participate in or vote with respect to such transaction; provided, however,
        that
        the failure to deliver such notice or any defect therein shall not affect
        the
        validity of the corporate action required to be described in such notice.
        

       

      10.
         Payment
        of Exercise Price.
        The
        Holder shall pay the Exercise Price in immediately available funds; provided,
        however,
        that if
        the Registration Statement did not become effective on or before the Required
        Effectiveness Date and is not continuously effective through the Expiration
        Date, the Holder may satisfy its obligation to pay the Exercise Price through
        a
“cashless exercise,” until such time as the Registration Statement initially
        becomes effective or becomes effective after any lapse in effectiveness,
        in
        which event the Company shall issue to the Holder the number of Warrant Shares
        determined as follows:

       

      
        	 	
                X
                  =
                  Y [(A-B)/A]

              
	
                where:

              	 
	 	
                X
                  =
                  the number of Warrant Shares to be issued to the
                  Holder.

              
	 	 
	 	
                Y
                  =
                  the number of Warrant Shares with respect to which this Warrant
                  is being
                  exercised.

              
	 	 
	 	
                A
                  =
                  the arithmetic average of the Closing Prices for the five Trading
                  Days
                  immediately prior to (but not including) the Exercise
                  Date.

              
	 	 
	 	
                B
                  =
                  the Exercise Price.

              

      

      

      
        
           

        

        
          8

          
            

          

        

        
           

        

      

      

      For
        purposes of Rule 144 promulgated under the Securities Act, it is intended,
        understood and acknowledged that the Warrant Shares issued in a cashless
        exercise transaction shall be deemed to have been acquired by the Holder,
        and
        the holding period for the Warrant Shares shall be deemed to have commenced,
        on
        the date this Warrant was originally issued pursuant to the Purchase
        Agreement.

       

      11.
         Limitation
        on Exercise.
        (a)
        Notwithstanding anything to the contrary contained herein, the
        number of shares of Common Stock that may be acquired by the Holder upon
        any
        exercise of this Warrant (or otherwise in respect hereof) shall be limited
        to
        the extent necessary to insure that, following such exercise (or other
        issuance), the total number of shares of Common Stock then beneficially owned
        by
        such Holder and its Affiliates and any other Persons whose beneficial ownership
        of Common Stock would be aggregated with the Holder’s for purposes of Section
        13(d) of the Exchange Act, does not exceed 4.999% (the “Threshold
        Percentage”)
        or
        9.999% (the “Maximum
        Percentage”)
        of the
        total number of issued and outstanding shares of Common Stock (including
        for
        such purpose the shares of Common Stock issuable upon such
        exercise).
        For such
        purposes, beneficial ownership shall be determined in accordance with Section
        13(d) of the Exchange Act and the rules and regulations promulgated thereunder.
        Each delivery of an Exercise Notice hereunder will constitute a representation
        by the Holder that it has evaluated the limitations set forth in this paragraph
        and determined that issuance of the full number of Warrant Shares requested
        in
        such Exercise Notice is permitted under this paragraph. The Company’s obligation
        to issue shares of Common Stock in excess of the limitation referred to in
        this
        Section shall be suspended (and shall not terminate or expire notwithstanding
        any contrary provisions hereof) until such time, if any, as such shares of
        Common Stock may be issued in compliance with such limitation. By written
        notice
        to the Company, the Holder shall have the right (x) at any time and from
        time to
        time to reduce its Maximum Percentage immediately upon notice to the Company
        in
        the event and only to the extent that Section 16 of the Exchange Act or the
        rules promulgated thereunder (or any successor statute or rules) is changed
        to
        reduce the beneficial ownership percentage threshold thereunder to a percentage
        less than 9.999% and (y) at any time and from time to time, to waive the
        provisions of this Section insofar as they relate to the Threshold Percentage
        or
        to increase or decrease its Threshold Percentage (but not in excess of the
        Maximum Percentage) unless the Holder shall have, by written instrument
        delivered to the Company, irrevocably waived its rights to so increase or
        decrease its Threshold Percentage, but (i) any such waiver, increase or decrease
        will not be effective until the 61st day after such notice is delivered to
        the
        Company, and (ii) any such waiver or increase or decrease will apply only
        to the
        Holder and not to any other holder of Warrants.

       

      (b) Notwithstanding
        anything to the contrary contained herein, if the Trading Market is the NASDAQ
        SmallCap Market or any other market or exchange with similar applicable rules,
        then the maximum number of shares of Common Stock that the Company may issue
        pursuant to the Transaction Documents at an effective purchase price less
        than
        the Closing Price on the Trading Day immediately preceding the Closing Date
        equals 19.99% of the outstanding shares of Common Stock immediately preceding
        the Closing Date (the “Issuable
        Maximum”),
        unless the Company obtains stockholder approval in accordance with the rules
        and
        regulations of such Trading Market. If, at the time any Holder requests an
        exercise of any of the Warrants, the Actual Minimum (excluding any shares
        issued
        or issuable at an effective purchase price in excess of the Closing Price
        on the
        Trading Day immediately preceding the Closing Date) exceeds the Issuable
        Maximum
        (and if the Company has not previously obtained the required stockholder
        approval), then the Company shall issue to the Holder requesting such exercise
        a
        number of shares of Common Stock not exceeding such Holder’s pro-rata portion of
        the Issuable Maximum (based on such Holder’s share (vis-à-vis other Holders) of
        the aggregate purchase price paid under the Purchase Agreement and taking
        into
        account any Warrant Shares previously issued to such Holder). For the purposes
        hereof, “Actual
        Minimum”
shall
        mean, as of any date, the maximum aggregate number of shares of Common Stock
        then issued or potentially issuable in the future pursuant to the Transaction
        Documents, including any Underlying Shares issuable upon exercise in full
        of all
        Warrants, without giving effect to (x) any limits on the number of shares
        of
        Common Stock that may be owned by a Holder at any one time, or (y) any
        additional Underlying Shares that could be issuable as a result of any future
        possible adjustments made under Section 9(d).

      

      
        
           

        

        
          9

          
            

          

        

        
           

        

      

      12.
         Fractional
        Shares.
        The
        Company shall not be required to issue or cause to be issued fractional Warrant
        Shares on the exercise of this Warrant. If any fraction of a Warrant Share
        would, except for the provisions of this Section, be issuable upon exercise
        of
        this Warrant, the number of Warrant Shares to be issued will be rounded up
        to
        the nearest whole share.

       

      13.
         Notices.
        Any and
        all notices or other communications or deliveries hereunder (including without
        limitation any Exercise Notice) shall be in writing and shall be deemed given
        and effective on the earliest of (i) the date of transmission, if such notice
        or
        communication is delivered via facsimile at the facsimile number specified
        in
        this Section prior to 6:30 p.m. (New York City time) on a Trading Day, (ii)
        the
        next Trading Day after the date of transmission, if such notice or communication
        is delivered via facsimile at the facsimile number specified in this Section
        on
        a day that is not a Trading Day or later than 6:30 p.m. (New York City time)
        on
        any Trading Day, (iii) the Trading Day following the date of mailing, if
        sent by
        a nationally recognized overnight courier service, or (iv) upon actual receipt
        by the party to whom such notice is required to be given. The address for
        such
        notices or communications shall be as set forth in the Purchase
        Agreement.

       

      14.
         Warrant
        Agent.
        The
        Company shall serve as warrant agent under this Warrant. Upon 30 days' notice
        to
        the Holder, the Company may appoint a new warrant agent. Any corporation
        into
        which the Company or any new warrant agent may be merged or any corporation
        resulting from any consolidation to which the Company or any new warrant
        agent
        shall be a party or any corporation to which the Company or any new warrant
        agent transfers substantially all of its corporate trust or stockholders
        services business shall be a successor warrant agent under this Warrant without
        any further act. Any such successor warrant agent shall promptly cause notice
        of
        its succession as warrant agent to be mailed (by first class mail, postage
        prepaid) to the Holder at the Holder's last address as shown on the Warrant
        Register.

       

      
        
           

        

        
          10

          
            

          

        

        
           

        

      

       

      15.
         Miscellaneous.

      (a)
         Subject
        to the restrictions on transfer set forth on the first page hereof, this
        Warrant
        may be assigned by the Holder. This Warrant may not be assigned by the Company
        except to a successor in the event of a Fundamental Transaction. This Warrant
        shall be binding on and inure to the benefit of the parties hereto and their
        respective successors and assigns. Subject to the preceding sentence, nothing
        in
        this Warrant shall be construed to give to any Person other than the Company
        and
        the Holder any legal or equitable right, remedy or cause of action under
        this
        Warrant. This Warrant may be amended only in writing signed by the Company
        and
        the Holder and their successors and assigns.

       

      (b)
         The
        Company will not, by amendment of its governing documents or through any
        reorganization, transfer of assets, consolidation, merger, dissolution, issue
        or
        sale of securities or any other voluntary action, avoid or seek to avoid
        the
        observance or performance of any of the terms of this Warrant, but will at
        all
        times in good faith assist in the carrying out of all such terms and in the
        taking of all such action as may be necessary or appropriate in order to
        protect
        the rights of the Holder against impairment. Without limiting the generality
        of
        the foregoing, the Company (i) will not increase the par value of any Warrant
        Shares above the amount payable therefor on such exercise, (ii) will take
        all
        such action as may be reasonably necessary or appropriate in order that the
        Company may validly and legally issue fully paid and nonassessable Warrant
        Shares on the exercise of this Warrant, and (iii) will not close its stockholder
        books or records in any manner which interferes with the timely exercise
        of this
        Warrant.

       

      (c)
         Governing
        Law; Venue; Waiver Of Jury Trial.
        all
        questions concerning the construction, validity, enforcement and interpretation
        of this warrant shall be governed by and construed and enforced in accordance
        with the laws of the state of new york. each party hereby irrevocably submits
        to
        the exclusive jurisdiction of the state and federal courts sitting in the
        city
        of new york, borough of manhattan, for the adjudication of any dispute hereunder
        or in connection herewith or with any transaction contemplated hereby or
        discussed herein (including with respect to the enforcement of any of the
        transaction documents), and hereby irrevocably waives, and agrees not to
        assert
        in any suit, action or proceeding, any claim that it is not personally subject
        to the jurisdiction of any such court, that such suit, action or proceeding
        is
        improper. each party hereby irrevocably waives personal service of process
        and
        consents to process being served in any such suit, action or proceeding by
        mailing a copy thereof via registered or certified mail or overnight delivery
        (with evidence of delivery) to such party at the address in effect for notices
        to it under this agreement and agrees that such service shall constitute
        good
        and sufficient service of process and notice thereof. nothing contained herein
        shall be deemed to limit in any way any right to serve process in any manner
        permitted by law. the company hereby waives all rights to a trial by
        jury.

       

      (d)
         The
        headings herein are for convenience only, do not constitute a part of this
        Warrant and shall not be deemed to limit or affect any of the provisions
        hereof.

       

      (e)
         In
        case
        any one or more of the provisions of this Warrant shall be invalid or
        unenforceable in any respect, the validity and enforceability of the remaining
        terms and provisions of this Warrant shall not in any way be affected or
        impaired thereby and the parties will attempt in good faith to agree upon
        a
        valid and enforceable provision which shall be a commercially reasonable
        substitute therefor, and upon so agreeing, shall incorporate such substitute
        provision in this Warrant.

       

      [REMAINDER
        OF PAGE INTENTIONALLY LEFT BLANK,

      SIGNATURE
        PAGE FOLLOWS]

       

      
        
           

        

        
          11

          
            

          

        

        
           

        

      

      IN
        WITNESS WHEREOF, the Company has caused this Warrant to be duly executed
        by its
        authorized officer as of the date first indicated above.

       

      
        	 	 
	 	
                GENEREX
                  BIOTECHNOLOGY CORPORATION

              
	 	 
	 	 
	 	
                By:
                  _________________________________

              
	 	
                Name:
                  _______________________________

              
	 	
                Title:
                  ________________________________

              

      

       

      
        
           

        

        
          12

          
            

          

        

        
           

        

      

      ANNEX
        A

       

      FORM
        OF
        EXERCISE NOTICE

       

      (To
        be
        executed by the Holder to exercise the right to purchase shares of Common
        Stock
        under the foregoing Warrant)

       

      To:
        GENEREX
        BIOTECHNOLOGY
        CORPORATION

       

      The
        undersigned is the Holder of Warrant No. _______ (the “Warrant”)
        issued
        by Generex Biotechnology Corporation, a Delaware corporation (the “Company”).
        Capitalized terms used herein and not otherwise defined have the respective
        meanings set forth in the Warrant.

       

      
        	
                1.
                  

              	
                The
                  Warrant is currently exercisable to purchase a total of ______________
                  Warrant Shares.

              

      

       

      
        	
                2.
                  

              	
                The
                  undersigned Holder hereby exercises its right to purchase
                  _________________ Warrant Shares pursuant to the
                  Warrant.

              

      

       

      
        	
                3.
                  

              	
                The
                  Holder intends that payment of the Exercise Price shall be made
                  as (check
                  one):

              

      

       

      ____ “Cash
        Exercise” under Section 10

       

      ____ “Cashless
        Exercise” under Section 10 (if permitted)

       

      
        	
                4.
                  

              	
                If
                  the holder has elected a Cash Exercise, the holder shall pay the
                  sum of
                  $____________ to the Company in accordance with the terms of the
                  Warrant.

              

      

       

      
        	
                5.
                  

              	
                Pursuant
                  to this exercise, the Company shall deliver to the holder _______________
                  Warrant Shares in accordance with the terms of the
                  Warrant.

              

      

       

      
        	
                6.
                  

              	
                Following
                  this exercise, the Warrant shall be exercisable to purchase a total
                  of
                  ______________ Warrant Shares.

              

      

       

      
        	 	 
	 	 
	
                Dated:
                  ________________,
                  _____

              	
                Name
                  of Holder:

              
	 	 
	 	
                (Print)
                  _____________________________

              
	 	 
	 	
                By:________________________________

              
	 	
                Name:______________________________

              
	 	
                Title:_______________________________

              
	 	 
	 	
                (Signature
                  must conform in all respects to name of holder as specified on
                  the face of
                  the Warrant)

              

      

      
        
           

        

        
          
          

          
            

          

        

        
           

        

      

      ANNEX
        B

       

      FORM
        OF
        ASSIGNMENT

       

      [To
        be
        completed and signed only upon transfer of Warrant]

       

      FOR
        VALUE
        RECEIVED, the undersigned hereby sells, assigns and transfers unto
        ________________________________ the right represented by the within Warrant
        to
        purchase ____________ shares of Common Stock of Generex Biotechnology
        Corporation to which the within Warrant relates and appoints ________________
        attorney to transfer said right on the books of Generex Biotechnology
        Corporation with full power of substitution in the premises.

       

      
        	 	 
	 	 
	
                
                  Dated:
                    ________________,
                    _____

                

              	 
	 	 
	 	____________________________________ 
	 	
                (Signature
                  must conform in all respects to name of holder as specified on
                  the face of
                  the Warrant)

              
	 	 
	 	____________________________________ 
	 	
                Address
                  of Transferee

              
	 	 
	 	____________________________________ 
	 	 
	 	____________________________________ 
	 	 
	 	 
	
                In
                  the presence of:

              	 
	 	 
	____________________________<PAGE>

                                                                   EXHIBIT 10.51

===============================================================================

                            SAHRE PURCHASE AGREEMENT

                                      AMONG

                                 DALLSFIELD LTD.

                           FOCUS MEDIA HOLDING LIMITED

                          DOTAD MEDIA HOLDINGS LIMITED

                                       AND

                                   XU MAO DONG

                                   DATED AS OF

                                  MARCH 7 2006

================================================================================

<PAGE>

                            SAHRE PURCHASE AGREEMENT

This Share Purchase Agreement (this "Agreement"), dated as of March 7, 2006,
among DALLSFIELD LTD., a company with limited liability incorporated and validly
existing under the laws of the British Virgin Islands (the "Seller"), FOCUS
MEDIA HOLDING LTD., a company with limited liability incorporated and validly
existing under the laws of the Cayman Islands (the "Buyer"), DOTAD MEDIA
HOLDINGS LTD., a company with limited liability incorporated and validly
existing under the laws of the British Virgin Islands (the "Company") and
together with Mr. XU MAO DONG, the shareholder of DALLSFIELD LTD. (the "Seller's
Shareholder").

                                    WHEREAS:

            1. The Seller owns all issued shares of the Company (the "Shares").

            2. The Seller's Shareholder and the board of directors of the
      Seller, through resolutions duly passed in each case on March 5, 2006,
      respectively, have approved the sale of the Shares to the Buyer;

            3. The Seller desires to sell, and the Buyer desires to purchase,
      the Shares, upon the terms and subject to the conditions set forth in this
      Agreement.

            NOW, THEREFORE, in consideration of the premises and the
representations, warranties, further undertakings and agreements herein
contained and intending to be legally bound hereby, the parties hereto hereby
agree as follows:

                                    ARTICLE I

                                   DEFINITIONS

            1.01 Certain Defined Terms. As used in this Agreement:

            "2006 Audited Annual Net Income" means the Company and its
consolidated subsidiaries' audited net income as defined under U.S. GAAP for the
twelve-month period starting from April 1, 2006 and ending March 31, 2007 as set
forth in the financial auditing statements plus the sum of all amounts deducted
in arriving at such audited net income to make provision for the refund of the
goods, the goodwill impairment and the reserve fund (including all other items
which shall be withdrawn as defined under U.S. GAAP Income Confirmation
Principle).

                                       1
<PAGE>

            "2007 Audited Annual Net Income" means the Company and its
consolidated subsidiaries' audited net income as defined under U.S. GAAP for the
twelve-month period starting from April 1, 2007 and ending March 31, 2008 as set
forth in the financial auditing statements plus the sum of all amounts deducted
in arriving at such audited net income to make provision for the refund of the
goods, the goodwill impairment and the reserve fund (including all other items
which shall be withdrawn as defined under U.S. GAAP Income Confirmation
Principle).

            "2006 Business Plan" means the Company's 2006 business plan as set
forth in Schedule 5.11 hereto and approved by the Buyer plus all the amendments
agreed by the Seller and the Buyer from time to time.

            "2007 Business Plan" means the Company's 2007 business plan as set
forth in Schedule 5.11 hereto and approved by the Buyer plus all the amendments
agreed by the Seller and the Buyer from time to time.

            "ADRs" means the American depositary shares of Buyer as listed on
the NASDAQ National Market, Inc

            "Affiliate" means, with respect to any specified Person, any other
Person that directly, or indirectly through one or more intermediaries,
controls, is controlled by, or is under common control with, such specified
Person. In the former sentence, "Control" (including the terms "controlled by"
and "under common control with") means the possession, directly or indirectly,
of the power to direct or cause the direction of the affairs or management of a
Person, whether through the ownership of voting securities, by Contract or
otherwise, including the constitution of an actual control.

            "Agreement" means this Share Purchase Agreement among the parties
hereto, as amended, modified or supplemented from time to time.

            "Ancillary Documents" means those agreements, documents and
instruments as set forth in Schedule 1.6.

            "Beijing Galvez" means Beijing Galvez Dotad Network Technology Co.,
Ltd., a company incorporated and validly existing under the laws of PRC.

            "Business" means the value added telecommunication business of the
Group Companies, as currently operated.

            "Business Day" means any day that is not a Saturday, a Sunday or
other day when banks are required or authorized by law to be closed in PRC or
USA.

            "Claim" means any and all administrative, supervisory or judicial
litigation/arbitration, prosecution, application, appeal, request, payment
notice, compensation claim, lien, or any notice, investigation, litigation
procedure, consent order or consent agreement concerning the lawful or unlawful
activities.

            "Closing" means any of the First Closing, the Earnout Closing.

            "Closing Date" means any of the First Closing Date, the Earnout
Closing Date.

                                       2
<PAGE>

            "Competitive Business" means the value added telecommunication
business which involves any party of this Agreement. The detailed scope of the
value added telecommunication business is set forth in Schedule 1.3 hereto.

            "Contract" means any contract, agreement, arrangement or
understanding, whether written or oral and whether express or implied.

            "Control" (including the terms "controlled by" and "under common
control with"), with respect to the relationship between or among two or more
parties, means the possession, directly or indirectly, of the power to direct or
cause the direction of the affairs or management of a party, whether through the
ownership of voting securities, by Contract or otherwise, including the
ownership, directly or indirectly, of securities having the power to elect a
majority of the board of directors or similar body governing the affairs of such
party.

            "Control Agreement" means, collectively, the agreements, contracts
and instruments, a list of which is attached hereto as Schedule 1.5, which
enable the Buyer to control and consolidate with its financial statements each
Group Company and the Acquired Businesses.

            "Earnout" means the additional consideration paid by the Buyer to
the Seller in return of the Company's financial performance following the First
Closing. In other words, if the Company is able to fulfill certain financial
target, the Seller is entitled to be awarded an additional consideration.

            "Earnout Closing Date" means the date when the Buyer duly sign and
deliver the Earnout Closing Notice to the Seller.

            "Employee's Misconduct" means an employee's gross negligence in the
performance of his duties to the Group Companies; an employee's misappropriation
of assets of, or embezzlement from, the Group Companies; willful breach by an
employee of such employee's material obligations under the relevant Service
Agreement entered into by the employee; a material breach by the employee of
this Agreement, the Confidentiality Agreement, the Manager Non-Compete Agreement
and the Employee Non-Compete Agreement entered into by such employee; and
willful violation of Buyer's Code of Ethics or other written policy.

            "Encumbrance" means any security interest, pledge, mortgage, lien,
charge, limitation, condition, equitable interest, option, easement,
encroachment, right of first refusal, adverse claim or restriction of any kind,
including any restriction on transfer or other assignment, as security or
otherwise, of or relating to use, quiet enjoyment, voting, receipt of income or
exercise of any other attribute of ownership.

            "Exchange Act" means the United States Securities Exchange Act of
1934, as amended, and the rules and regulations promulgated thereunder.

            "First Closing Date" means the date of (i) April 15, 2006, and (ii)
the day when all of the conditions set forth in Articles VI and VII hereof are
satisfied or waived, whichever is the earlier.

            "FM Ordinary Shares" means the ordinary shares, $0.00005 par value
per share, of Buyer.

                                       3
<PAGE>

            "Guaranty" means, as to any Person, any contract, agreement or
understanding of such Person pursuant to which such Person guarantees the
indebtedness, Liabilities or obligations of others, directly or indirectly, in
any manner, including agreements to purchase such indebtedness, Liabilities or
obligations, or to supply funds to or in any manner invest in others, or to
otherwise assure the holder of such indebtedness, Liabilities or obligations
against loss.

            "Group Companies" means the Company, the Subsidiaries, any variable
interest entity controlled by and consolidated with the Company, the Acquired
Businesses, and any entities which is controlled by any of the aforesaid
companies, a list of which companies is set forth in Schedule 1.1 hereto.

            "Governmental Authority" means Chinese government or any government
or governmental or regulatory departments thereof, or administrative subdivision
thereof, or any agency or committee thereof, or any court or arbitrator.

            "Intellectual Property" means (a) all rights in inventions (whether
patentable or un-patentable and whether or not reduced to practice), all
improvements thereto, and all patents, patent applications, and patent
disclosures, statutory invention registrations together with all re-issuances,
divisions, continuations, continuations-in-part, revisions, extensions, and
reexaminations thereof and all rights therein provided by Law or international
treaties and conventions; (b) all trademarks, service marks, trade dress, logos,
trade names, and corporate names, together with all translations, adaptations,
derivations, and combinations thereof and including all goodwill associated
therewith, and all applications, registrations, and renewals in connection
therewith; (c) all copyrightable works, all copyrights, and all applications,
registrations, and renewals in connection therewith; (d) all trade secrets and
confidential business information (including databases, ideas, research and
development, know-how, formulas, compositions, manufacturing and production
processes and techniques, technical data, designs, drawings, specifications,
customer and supplier lists, pricing and cost information, and business and
marketing plans and proposals); (e) all computer programs and software
(including data and source and object codes and related documentation); (f) all
other property rights in connection with the foregoing; and (g) all copies and
tangible embodiments thereof (in whatever form or medium).

            "Key Management" means Mr. Xu Mao Dong [CHINESE CHARACTERS], Mr.
Zhang Fu Lian [CHINESE CHARACTERS], Mr. Wu Yu [CHINESE CHARACTERS] and Mr. Wang
Chang Hong [CHINESE CHARACTERS].

            "Law" means any statute, code, law, ordinance, regulation or rule or
other legally binding requirement of any Governmental Authority.

            "Litigations" means claims, law suit, prosecution or arbitration,
interpellation, legal procedure or investigation raised by or against any
Government Department.

            "Liabilities" means any debts, liability or obligation (whether
known or unknown, claimed or not, absolute or probable, individually or in the
aggregate, liquidated or outstanding, due or overdue), and any or all law suits,
damages, tax variations, penalties fines, interests, tax assessments, judgments,
losses, taxes, court fees, costs (including but not limited in the attorney
fees, the expert consultant fees and the out-of-pocket fees).

            "Material Adverse Effect" or "Material Adverse Change" means any
effect or change that would be materially adverse (i) to the business, assets,
condition (financial or

                                       4
<PAGE>

otherwise), operating results, or operations of the Group Companies, taken as a
whole, or (ii) to the ability of any of the Seller's Shareholder to timely
consummate the transactions contemplated by this Agreement or by any of the
Ancillary Documents.

            "Person" means any natural person, corporation, limited liability
corporation, unincorporated organization, partnership, association, joint stock
company, joint venture, trust or government, or any agency or political
subdivision of any government, or any other entity.

            "PRC" means the People's Republic of China, but solely for the
purposes of this Agreement excluding the Hong Kong Special Administrative
Region, Macau Special Administrative Region and the island of Taiwan.

            "Securities Act" means the United States Securities Act of 1933, as
amended, and the rules and regulations promulgated thereunder.

            "Shandong Galvez" means Shandong Galvez Digital Technology Co.,
Ltd., a company incorporated and validly existing under the laws of PRC.

                                   ARTICLE II

                         PURCHASE AND SALE OF THE SHARES

            2.01 Purchase and Sale of the Shares. Subject to the terms and
conditions set forth in this Agreement, on the First Closing Date, the Seller
shall sell to Buyer the Shares and Buyer shall purchase from the Seller the
Shares, on a fully converted and diluted basis, for total consideration
consisting of the terms and conditions, as set forth below.

            2.02 Purchase Considerations. In consideration of purchasing the
Shares, the Buyer shall pay the Seller: (a) Cash Consideration with the amount
of USD 15 Million, and (b) the Share Consideration as the Earnout (i.e. the
Buyer's shares with the maximum value up to USD 15 Million).

            2.03 Purchase Deposit. Within three (3) business days after the date
of this Agreement, the Buyer shall pay the Seller a Purchase Deposit with the
amount of USD 3 Million and the Seller shall provide the Buyer with a Purchase
Deposit Receipt immediately. When the Buyer pays the Cash Consideration to the
Seller on the Cash Payment Date, such Purchase Deposits, being treated as part
of the Cash Consideration, shall be deducted from the payment of total Cash
Consideration automatically.

            2.04 First Closing.

            Unless this Agreement being terminated pursuant to Article VIII
before the First Closing Date, subject to the terms and conditions set forth in
this Agreement, the sale and purchase of the Shares shall be accomplished within
three (3) business days after the First Closing (the "Cash Payment Date").

                                       5
<PAGE>

                (a) On the Cash Payment Date, the Buyer shall pay the Seller in
                cash in the amount of USD 12 Million. Such USD12 Million plus
                the Purchase Deposit (i.e. USD 3 Million payment pursuant to
                Article 2.3) will constitute the whole cash consideration ("Cash
                Consideration"); and

                (b) On the First Closing Date, the Seller shall
                deliver/accomplish or cause to be delivered/accomplished the
                following items:

                        (1)   all previously undelivered documents and the
                              Ancillary Documents required under Article VII
                              hereto;

                        (2)   in respect of Company, the business license,
                              common seal (if exists), registered certificates
                              of share or share certificate book (including the
                              registered certificates of those un-issued share)
                              and all minute books and other statutory books or
                              equivalent items which shall be kept by relevant
                              shareholders, in accordance with the Law of the
                              jurisdiction where Company is registered ; and

                        (3)   any other procedures which are necessary for the
                              legal transfer of the Share to the Buyer on the
                              First Closing Date.

                (c) Unless otherwise agreed by the parties to this Agreement,
                should the terms set forth in the Article VI cannot be fulfilled
                by April 15, 2006 due to the Buyer's intentionally breach or
                failure to perform its obligations as specified by this
                Agreement, this Agreement shall be automatically terminated.
                Under such circumstances, the Seller shall not refund to the
                Buyer the Purchase Deposit.

            2.05 Earnout Closing.

                (a) First Earnout Closing

                        (1)   On or prior to May 31, 2007 (or any later day as
                              may be mutually agreed by Buyer and Seller if the
                              Company shall demonstrate to Buyer that the May
                              31, 2007 deadline is not attainable upon
                              reasonable efforts of the Company due to
                              unforeseen difficulties or obstacles), the Company
                              shall provide the Buyer with audited financial
                              statements of the Company and its consolidated
                              entities for the year ending March 31, 2007,
                              prepared in accordance with U.S. GAAP, including a
                              statement setting forth the 2006 Audited Annual
                              Net Income (the "2006 Audited Annual Financial
                              Statements").

                        (2)   The Calculation method and the Adjustment system
                              of the Initial Earnout Value Amount shall be made
                              as follows:

                                       6
<PAGE>

                              (i)   If the Company's 2006 Audited Annual Net
                                    Income exceeds USD 5 Million (including USD
                                    5 Million), the Buyer shall pay the Seller
                                    the Initial Earnout with the amount of USD
                                    7.5 Million in the form of the Buyer's
                                    shares.

                              (ii)  If the Company's 2006 Audited Annual Net
                                    Income exceeds USD 2.5 Million (including
                                    USD 2.5 Million) but less than USD 5
                                    Million, the Buyer shall pay the Seller the
                                    Initial Earnout in the form of the Buyer's
                                    shares. The formula for the calculation of
                                    such Initial Earnout shall be the quotient
                                    of (x) USD 7.5 Million times (2006 Audited
                                    Annual Net Income less USD 2.5 Million)
                                    divided by (y) USD 2.5 Million. Such 2006
                                    Audited Annual Net Income shall be
                                    calculated in USD (below as the same).

                              (iii) If the Company's 2006 Audited Annual Net
                                    Income is less than USD 2.5 Million, the
                                    Buyer shall not pay the Seller the Initial
                                    Earnout, while the Seller shall refund
                                    part/whole of the Cash Consideration to the
                                    Buyer in the amount calculated by the
                                    formula that: the quotient of (x) USD 15
                                    Million times (USD 2.5 Million less 2006
                                    Audited Annual Net Income) divided by (y)
                                    USD 2.5 Million. The Cash Consideration
                                    refunded by the Seller to the Buyer shall
                                    not exceed the Cash Consideration actually
                                    obtained by the Seller from the Buyer.

                              (iv)  If the Company's 2006 Audited Annual Net
                                    Income exceeds USD 5 Million, the exceeded
                                    amount shall be credited to Company's 2007
                                    Audited Annual Net Income for its
                                    calculation.

                        (3)   Unless otherwise agreed in this Agreement, the
                              Initial Earnout Closing Notice shall be delivered
                              by the Buyer to the Seller within fifteen (15)
                              business days following the ate of the delivery of
                              the 2006 Audited Annual Financial Statements. If
                              the above clause (a) (2) (iii) applies, the Buyer
                              shall deliver to the Seller the Notice of
                              Non-delivery of the Earnout together with the
                              Notice of Refund of the Cash Consideration.

                        (4)   Within fifteen (15) business days following the
                              date of the delivery of the Earnout Closing Notice
                              ("Earnout Closing Date") to the Seller, the Buyer
                              shall issue its shares to the Seller as the
                              Earnout. The number of the share to be issued
                              shall be calculated by the formula that: the
                              quotient of the Initial Earnout value amount
                              divided by Unit Price of Buyer's Shares (Unit:
                              USD).

                                       7
<PAGE>

                              "Unit Price of Buyer's Shares" shall mean the
                              closing price of the Buyer's shares on the date of
                              this Agreement or USD50/ADRs, whichever is the
                              lower, provided, however, that, from the date of
                              the Buyer's announcement of earning for 4th
                              quarter to the date of this Agreement, the average
                              price of ADRs exceeds USD 60, the "Unit Price of
                              Buyer's Shares" shall mean the closing price on
                              the date of this Agreement or USD52/ADRs,
                              whichever is the lower.

                (b) Second Earnout Closing

                        (1)   On or prior to May 31, 2008 (or any later day as
                              may be mutually agreed by Buyer and Seller if the
                              Company shall demonstrate to Buyer that the May
                              31, 2008 deadline is not attainable upon
                              reasonable efforts of the Company due to
                              unforeseen difficulties or obstacles), the Company
                              shall deliver audited financial statements of the
                              Company and its consolidated entities for the year
                              ending March 31, 2008, prepared in accordance with
                              U.S. GAAP, including a statement setting forth the
                              2007 Audited Annual Net Income (the "2007 Audited
                              Annual Financial Statements").

                        (2)   The Calculation method and the Adjustment system
                              of the Second Earnout Value Amount shall be made
                              as follows:

                              (i)   If the Company's 2007 Audited Annual Net
                                    Income exceeds USD 8 Million (including USD
                                    8 Million), the Buyer shall pay the Seller
                                    the Second Earnout with the amount of USD
                                    7.5 Million in the form of the Buyer's
                                    shares.

                              (ii)  If the Company's 2007 Audited Annual Net
                                    Income exceeds USD 5 Million (including USD
                                    5 Million) but less than USD 8 Million, the
                                    Buyer shall pay the Seller the Second
                                    Earnout in the form of the Buyer's shares.
                                    The formula for the calculation of such
                                    Second Earnout shall be the quotient of (x)
                                    USD 7.5 Million times (2007 Audited Annual
                                    Net Income less USD 5 Million) divided by
                                    (y) USD 3 Million. Such 2007 Audited Annual
                                    Net Income shall be calculated in USD (below
                                    as the same).

                              (iii) If the Company's 2007 Audited Annual Net
                                    Income is less than USD 5 Million, the Buyer
                                    shall not deliver to the Seller the Second
                                    Earnout.

                              (iv)  If the Initial Earnout Value Amount obtained
                                    by the Seller is less than USD 7.5 million
                                    while the Company's 2007 Audited Annual Net
                                    Income exceeds USD 8 Million, such exceeded
                                    amount shall be retrospectively credited to
                                    Company's 2006 Audited

                                       8
<PAGE>

                                    Annual Net Income to reach a New Annual Net
                                    Income. The Initial Earnout Value Amount
                                    shall be re-calculated based on such New
                                    Annual Net Income with the formula for the
                                    Initial Earnout so as to reach a New Earnout
                                    Value Amount. When the Buyer deliver to the
                                    Seller the Second Earnout, the Seller may
                                    require the Buyer to pay the balance between
                                    the Initial Earnout Value Amount and the New
                                    Earnout Value Amount, provided, however,
                                    that the sum of the said balance together
                                    with the Initial Earnout Value Amount shall
                                    be in no event higher than USD 7.5 Million.

                        (3)   Unless otherwise agreed in this Agreement, the
                              Second Earnout Closing Notice shall be delivered
                              by the Buyer to the Seller within fifteen (15)
                              business days following the date of the delivery
                              of the 2007 Audited Annual Financial Statements.
                              If the above clause (b) (2) (iii) applies, the
                              Buyer shall deliver to the Seller the Notice of
                              Non-delivery of the Earnout.

                        (4)   Within fifteen (15) business days following the
                              date of the delivery to the Seller the Earnout
                              Closing Notice ("Earnout Closing Date"), the Buyer
                              shall issue its shares to the Seller as the
                              Earnout, The number of the share to be issued
                              shall be calculated by the formula that: the
                              quotient of the Second Earnout value amount times
                              Unit Price of Buyer's Shares (Unit: USD).

                              "Unit Price of Buyer's Shares" shall mean the
                              closing price of the Buyer's shares on the date of
                              this Agreement or USD50/ADRs, whichever is the
                              lower, provided, however, that, from the date of
                              the Buyer's announcement of earning for 4th
                              quarter to the date of this Agreement, the average
                              price of ADRs exceeds USD60, the "Unit Price of
                              Buyer's Shares" shall mean the closing price on
                              the date of this Agreement or USD52/ADRs,
                              whichever is the lower.

                                   ARTICLE III

                  REPRESENTATIONS AND WARRANTIES OF THE SELLER

            The Seller and the Seller's Shareholder, jointly and severally,
represent and warrant to the Buyer as follows as of the date hereof:

                  3.01 Due Organization, Good Standing and Power The Seller is a
company duly incorporated, validly existing and in good standing under the laws
of the British Virgin Islands with independent juristic personality. The Seller
has the requisite power and authority (corporate and other) to own, lease and
operate its assets and to conduct the business now being conducted by it. The
Seller has all requisite power and authority to enter into this

                                       9
<PAGE>

Agreement and the Ancillary Documents to which it is a party and to perform its
obligations hereunder and thereunder.

            3.02 The Company is a holding company duly incorporated, validly
existing and in good standing under the laws of the British Virgin Islands which
has no business activities. The Company has no Liabilities or obligations and is
not party to any Contract, other than (i) this Agreement, the Ancillary
Documents to which it is a party and such Contracts as are described in Schedule
3.02, and (ii) any Liabilities or obligations relating solely to the
transactions contemplated by this Agreement, the Ancillary Documents or the
Contracts described in Schedule 3.02.

            3.03 Authorization, Enforceability. The execution and delivery of
this Agreement and the Ancillary Documents to which the Seller has been duly
authorized by all necessary corporate action on the part of each such party.
Subject to the public policies, each of this Agreement and the Ancillary
Documents constitutes a valid and binding agreement of the Seller, enforceable
against each of them in accordance with its terms.

            3.04 Capitalization; Ownership and Transfer of Shares; Valid
Issuance

            (a) The Shares set forth in Schedule 3.04 hereto constitute the only
equity capital of the Company. All of the Shares were duly authorized for
issuance and are validly issued, fully paid and non-assessable.

            (b) The Seller is the only record and beneficial owner of the said
Shares and has good and marketable title to such Shares, free and clear of any
and all Encumbrances. The Seller has the corporate or other applicable
organizational power and authority to sell, transfer, assign and deliver the
Shares as provided in this Agreement, and such delivery will convey to the Buyer
good and valid title to the Shares, free and clear of any and all Encumbrances.

            3.05 Group Companies

            a) Schedule 3.05 sets forth for each of the Group Companies (i) its
jurisdiction of incorporation, formation or organization, as applicable, and
(ii) the number of authorized, issued and outstanding shares of each class of
its capital stock or other authorized, issued and outstanding equity interests,
as applicable, the names of the holders thereof, and the number of shares or
percentage interests, as applicable, held by each such holder. Except as set
forth in Schedule 3.05, each of the Group Companies is duly incorporated or
formed, as applicable, validly existing and, in good standing under the Laws of
its jurisdiction of incorporation or formation, as applicable, has the requisite
corporate or similar power and authority (corporate and other) to own, lease and
operate its assets and to carry on its business now being conducted by it. All
the issued and outstanding shares of capital stock or other equity interests of
the Group Companies are owned of record, free and clear of any Encumbrances
except as set forth in Schedule 3.05.

            b) No shares of capital stock or other equity or ownership interests
of any Group Company have been issued in violation of any rights, agreements,
arrangements or commitments under any provision of applicable Law, the
certificate of incorporation or bylaws or comparable organizational documents of
any Group Company or any Contract to which the Group Company is a party or by
which the Group Company is bound.

                                       10
<PAGE>

            3.06 Corporate Records. The Seller has made available to the Buyer
true, correct and complete copies of the certificates of incorporation, by-laws
or comparable organizational documents and business licenses of each Group
Company. Such certificates of incorporation, by-laws, or comparable
organizational documents and business licenses are in full force and effect.
None of the Group Companies is in violation of any of the provisions of its
certificate of incorporation, bylaws or comparable organizational documents. The
transfer books and minute books of each Group Company that have been made
available for inspection by Buyer prior to the date hereof are true and
complete.

            3.07 No Approvals or Conflicts. The execution, delivery and
performance by the Seller of this Agreement and the Ancillary Documents to which
it is a party do not and will not (i) violate, conflict with or result in a
breach by any of the Seller Parties of the organizational documents of any of
the Seller, (ii) violate, or conflict with any Governmental Order or Law
applicable to the Seller, and require any order, consent, approval or
authorization of, or notice to, or declaration, filing, application,
qualification or registration by the Seller with, any Governmental Authority,
except in the cases such violation, conflict, breach, default, termination,
acceleration, cancellation or failure to give notice, register or obtain
approval would not reasonably be expected to have a Material Adverse Effect. No
Governmental Authorizations are required for the execution and performance by
the Seller of this Agreement and the Ancillary Documents and the consummation by
the Seller of the transactions contemplated hereby and thereby

            3.08 Compliance with Law; Governmental Authorizations. None of the
Group Companies is in violation of any Governmental Order or Law applicable to
them or any of their respective properties, except where any such violation
would not reasonably be expected to have a Material Adverse Effect.

            3.09 Licenses. Except otherwise agreed in Schedule 3.09, each of the
Group Companies has obtained all material licenses, consents, authorizations,
approvals, and permits of and from, and has made all declarations and filings
with, all Governmental Authorities necessary for the conduct of the Business and
such licenses, consents, authorizations, approvals or permits contain no
materially burdensome restrictions or conditions. To the Knowledge of the
Seller, no government department is considering modifying, suspending or
revoking any such licenses, consents, authorizations or approvals and each of
the Group Companies is in compliance with the provisions of all such licenses,
consents, authorizations, approvals, orders, certificates or permits.

            3.10 Litigation. There are no suits, actions, arbitrations,
proceedings or investigations pending or, to the Knowledge of the Seller,
threatened against any of the Seller and the Group Companies.

            3.11 Tax Matters

            (a) (i) All income Tax Returns required to be filed by or on behalf
of the Seller has been accurately prepared in all material respects and filed in
a timely manner (within any applicable extension periods) and are true, correct
and complete in all material respects, (ii) all Taxes shown to be due on such
Tax Returns have been timely paid in full or will be timely paid in full by the
due date thereof, and the Group Companies have adequately provided for all Taxes
for which they are required to provide, except where any failure to pay or
underpayment would not reasonably be expected to have a Material Adverse Effect,
(iii) no material claims being asserted in writing with respect to any Taxes of
any of the Group

                                       11
<PAGE>

Companies; and, (iv) no material probable claim for compensation being asserted
with respect to any Taxes of any of the Group Companies.

            (b) Each of the Group Companies is and has been in compliance with
all applicable Laws relating to the payment, withholding and exemptions of Taxes
and has duly and timely withheld from employee salaries, wages and other
compensation and has paid over to the appropriate taxing authorities all amounts
required to be so withheld and paid over for all periods under all applicable
Laws, except where any such noncompliance would not reasonably be expected to
have a Material Adverse Effect;

            (c) The Seller has made available to the Buyer complete copies of
all approval documents with respect of any Tax exemption or all statements to
qualify for Tax exemptions;

            (d) There are no audits or investigations or penalties by any taxing
authority of any of the Group Companies in progress nor, to the Knowledge of the
Seller is there any pending or threatened audit or investigation or penalties by
any Government Authority;

            (e) No Group Company is a party to any tax indemnity, tax allocation
or tax sharing or similar agreement or arrangement (whether or not written)
pursuant to which it will have any obligation to make any payments after the
First Closing.

            3.12 Officers, Employees and Labor

            (a) Each of the Group Companies has complied in all material aspects
with all applicable Laws relating to the employment of labor, including
provisions thereof relating to wages, hours, social welfare, equal opportunity
and collective bargaining. There is no organized labor strike, dispute, slowdown
or claim pending, or to the Knowledge of the Seller, threatened, against or
affecting any of the Group Companies. None of the Group Companies has any
Contract with any labor union.

            (b) None of the employees of the Group Companies is subject to any
Governmental Order that would interfere with the use of his or her best efforts
to promote the interests of the Group Companies. Any of such employees is now
obligated: (i) the execution, delivery and performance of any of this Agreement
and the Ancillary Documents; (ii) the conduct of the Business of any Group
Company as currently conducted or as proposed to be conducted.

            (c) Except otherwise agreed in the Schedule 3.12(c), none of the
execution, delivery and performance of any of this Agreement and the Ancillary
Documents will constitute an event under any benefit plan or individual
agreement that will or may result in any payment, acceleration, vesting or
increase in material benefits with respect to any employee, former employee,
consultant, agent or director of the Group Companies.

            (d) Except as required by applicable laws and regulations, none of
the Group Companies has any obligation to provide retirement, death or
disability benefits to any of the present or past employees of the Group
Companies, or to any other person.

            (e) None of the Seller and the businesses or entities operated or
owned by the Seller, nor, to the Knowledge of the Seller, any of their
respective officers, directors,

                                       12
<PAGE>

supervisors, managers or employees have, directly or indirectly, owned any
interest, in any entity, or have entered into any transactions, that may compete
with the Group Companies, or are otherwise involved in the Business.

            (f) (i) no material labor dispute, work stoppage, slow down, strike
or other conflict with the employees of any of the Group Companies exists; (ii)
none of the Group Companies is engaged in any unfair labor practice (iii) there
is no unfair labor practice complaint pending or, to the Knowledge of the
Seller, threatened against any of the Group Companies before any competent
Governmental Agency, and no grievance or arbitration proceeding arising out of.

            3.13 Loans

            Except as described in this Agreement and the Ancillary Documents,
none of the Group Companies has, directly or indirectly: (A) extended credit,
arranged to extend credit, or renewed any extension of credit, to or for any
director or executive officer of the Seller and the Group Companies, or (B) made
any material modification to any term of any of the above mentioned individuals.

            3.14 Prohibited Payments

            To the Knowledge of the Seller, none of the Group Companies, nor any
director, officer, agent, employee or other person associated with or acting on
behalf of the Group Companies, has used any corporate funds for any unlawful
contribution, gift, entertainment or other unlawful expenses relating to a
political activity, made any direct or indirect unlawful payment to any
government official or employee from corporate funds; or made any bribe, rebate,
payoff, influence payment, kickback or other unlawful payment.

            3.15 Share Option and Other Plans

            None of the Group Companies has any pension, profit sharing, stock
option, employee stock purchase or other plan providing for incentives or other
compensation to employees (aside from any salary, bonus payable and social
insurance arrangements provided by Laws).

            3.16 Intellectual Property

            (a) The Group Companies have rights to acquire from its management
and employees all Intellectual Property material to the Business, including any
job-related inventions as Intellectual Property held by any management or
employees of the Group Companies (including the Intellectual Property holding by
the senior management of the Group Companies).

            (b) Each Group Company has taken all reasonable steps in accordance
with standard industry practices to protect its rights in its Intellectual
Property and at all times has maintained the confidentiality of all information
that constitutes or constituted a trade secret of each Group Company.

            (c) No Group Company is a party to any pending legal proceedings
which involve a claim of infringement, unauthorized use, or violation of any
intellectual property

                                       13
<PAGE>

right by any Person against such Group Company or challenging the ownership,
use, validity or enforceability of, any material Intellectual Property owned by
or exclusively licensed to such Group Company.

            (d) To the Knowledge of Seller, no Person is infringing, violating,
misusing or misappropriating any material Intellectual Property owned by any
Group Company, and no written claims have been made against any Person by any
Group Company.

            3.17 Contracts

            (a) Except as set forth on Schedule 3.17, on the First Closing Date,
none of the Group Companies is a party to or is bound by:

            (i)   any Contract which contains restrictions with respect to
                  payment of dividends or any other distribution in respect of
                  its capital stock, partnership interests or membership
                  interests;

            (ii)  any Contract requiring the applicable Group Company to make
                  future capital expenditures in excess of RMB 500,000 (either
                  individually or in the aggregate);

            (iii) any Contract applicable to Group Company, which lead to
                  indebtedness with an amount in excess of RMB500,000;

            (iv)  any loan or advance by a Group Company to, or investment by a
                  Group Company in, any Person, in each case, which involves an
                  amount in excess of RMB500,000, or any agreement, contract or
                  commitment relating to the making of any such loan, advance or
                  investment;

            (v)   any Contract with a Group Company, or any management, service,
                  consulting or any other similar type of Contract requiring
                  payment of fees in excess of RMB500,000 per year;

            (vi)  any material warranty, guaranty Contract;

            (vii) any material Contract that cannot be terminated by a Group
                  Company without liability upon less than ninety (90) days'
                  notice;

            (viii) any collective bargaining agreement with any labor union or
                  other representative of employees;

            (ix)  any Contract that governs any joint venture, partnership or
                  other cooperative arrangement or any other relationship
                  involving a sharing of profits and risks;

            (x)   any Contract that would result in the merger with or into or
                  consolidation into another Person;

                                       14
<PAGE>

            (xi)  any Contract for the sale of any of the assets of any Group
                  Company or for the grant to any Person of any preferential
                  rights to purchase any of its assets;

            (xii) any Contract with any Governmental Authority; or

            any material amendment, modification or supplement in respect of any
            of the foregoing made other than in the ordinary course of business
            consistent with past practice (each of (i)-(xii), a "Material
            Contract").

            (b) True and correct copies (or, if oral, written summaries) of each
of the Material Contracts have been made available to the Buyer.

            (c) Except as set forth in Schedule 3.17, no condition exists or
event has occurred that would constitute a default by (x) any of the Group
Companies under any Material Contract or (y) any other party to any Material
Contract.

            3.18 Compliance with Laws. Each of the Group Companies is, and at
all times has been, in full compliance with all applicable Laws in all material
aspects.

            (a) No event has occurred or circumstance exists that (i) may
constitute or result in a violation by any of the Group Companies of any
applicable Law where any such violation or failure would reasonably expected to
have a Material Adverse Effect, or (ii) may give rise to any obligation on the
part of any of the Group Companies to undertake, or to bear all or any portion
of the cost of, any remedial action of any nature and any such obligation would
reasonably be expected to have a Material Adverse Effect. None of the Group
Companies has received any notice or other communication (whether oral or
written) of illegal behavior or probable illegal behavior from any Governmental
Authority

            (b) To the Knowledge of Seller, none of the Group Companies or any
director, officer, agent, employee, or any other Person associated with or
acting for or on behalf of the foregoing, has offered, paid, and promised to pay
any money to any Government department or its Official for the benefits or
interests of the Group Company.

            (c) To the Knowledge of Seller Parties, none of the beneficial
owners of any interest in any Group Company is a Government Official.

            3.19 None of the assets of the Group Companies constitute
state-owned assets.

            3.20 The Seller and the Group Companies have fully provided Buyer
with all the information known to the Seller and Group Companies that Buyer has
requested. None of this Agreement, the Ancillary Documents or any other
statements or certificates or other materials made or delivered, or to be made
or delivered to Buyer in connection herewith or therewith, contains any untrue
statement of a material fact or omits to state a material fact necessary to make
the statements herein or therein not misleading.

            3.21 No other Representations or Warranties. Except for the
representations and the warranties made in Article III herein, no other
representations or warranty is expressed or implied by the Seller or the
Seller's Shareholder to the Buyer.

                                       15
<PAGE>

                                   ARTICLE IV

                     REPRESENTATIONS AND WARRANTIES OF BUYER

            Buyer hereby represents and warrants to the Seller on the date of
this agreement as follows:

            4.01 Organization. Buyer is a corporation duly incorporated, validly
existing and in good standing under the Laws of the Cayman Islands. Buyer has
all requisite corporate power and authority to own its assets and to carry on
its business as now being conducted by it and is duly qualified or licensed to
do business and is in good standing, except where the failure to be so qualified
or licensed would not reasonably be expected, individually or in the aggregate,
to have a material adverse effect on the ability of the Buyer to consummate the
transactions contemplated by this Agreement and by the Ancillary Documents to
which it is a party.

            4.02 Authorization, Enforceability. Buyer has the corporate power
and authority to execute and deliver this Agreement and the Ancillary Documents.
The execution and delivery of this Agreement and the Ancillary Documents have
been duly authorized by all necessary corporate action on the part of Buyer and
no other corporate or stockholder proceedings or actions are required to
consummate the transactions contemplated hereby. This Agreement has been duly
executed and delivered by the Buyer and constitutes a valid, enforceable and
binding agreement of the Buyer.

            4.03 No Approvals or Conflicts. The execution, delivery and
performance by the Buyer of this Agreement and the Ancillary Documents and the
consummation by the Buyer of the transactions contemplated hereby and thereby do
not and will not (i) violate, conflict with or result in a breach by the Buyer
of the certificates of incorporation, by-laws or equivalent documents of the
Buyer, (ii) violate, conflict with or result in a breach of, or constitute a
default by the Buyer, or give rise to any right of termination, cancellation or
acceleration under, or result in the creation of any Encumbrance upon any of the
properties of the Buyer under, any note, bond, mortgage, indenture, deed of
trust, license, franchise, permit, lease, contract, agreement or other
instrument to which the Buyer or any of its properties may be bound, (iii)
violate or result in a breach of any Governmental Order or Law applicable to the
Buyer or any of its properties or (iv) require any order, consent, approval or
authorization of, or notice to, or declaration, filing, application,
qualification or registration with, any Governmental Authority, except, with
respect to the foregoing clauses (ii), (iii) and (iv) above, as would not,
individually or in the aggregate, reasonably be likely to have a material
adverse effect on the ability of the Buyer to consummate the transactions
contemplated by this Agreement and by the Ancillary Documents to which it is a
party.

            4.04 No Other Representations or Warranties. Except for the
representations and warranties contained in this Article IV, neither the Buyer
nor any other Person makes any other express or implied representation or
warranty to the Seller.

                                       16
<PAGE>

                                    ARTICLE V

               FURTHER UNDERTAKINGS AND AGREEMENTS OF THE PARTIES

            5.01 Conduct of Business Prior to a Closing.

            (a) Without the prior consent of the Buyer, except as contemplated
by this Agreement and the Ancillary Documents, from and after the date of this
Agreement and until the Closing Date, (1) the Company shall cause the Group
Companies to (i) conduct the Business in all material respects in the ordinary
course of business consistent with past practice, (ii) not change the scope of
the Business and (iii) use their commercially reasonable efforts to maintain
satisfactory relationships with suppliers, customers and others having material
business relationships with them. (2)Except as contemplated by this Agreement
and except as set forth on section 5.01, the Company shall cause the Group
Companies to not do any of the following without the prior written consent of
the Buyer:

            (i)   except for purchases and sales by a Group Company to or from
                  another Group Company, purchase, sell or issue any of their
                  capital stock or other equity interests or grant or make any
                  option, subscription, warrant, call, commitment or agreement
                  of any character in respect of their capital stock or other
                  equity interests;

            (ii)  issue or pay any dividends other than to any of the Group
                  Companies;

            (iii) conduct any split, recombination or reclassification or
                  issuance of capital stock;

            (iv)  sell or otherwise dispose of assets with value in the
                  aggregate in excess of RMB 1,000,000, including sales of
                  assets in the ordinary course of business;

            (v)   other than the acquisitions, merge or consolidate with any
                  Person;

            (vi)  acquire assets having an aggregate value exceeding RMB
                  1,000,000, including (A) acquisitions in the ordinary course
                  of business and (B) capital expenditures permitted by clause
                  (vii) below;

            (vii) prior to the First Closing Date, make capital expenditures in
                  excess of RMB1,000,000 in aggregate;

            (viii) guarantee any indebtedness for borrowed money from the Seller
                  or its subsidiaries in the ordinary course of business;

            (ix)  incur any Encumbrance of material assets, other than Permitted
                  Encumbrances;

            (x)   increase the compensation of employees of the Group Companies
                  other

                                       17
<PAGE>

                  than (A) in the ordinary course of business or (B) as required
                  by any agreement in effect as of the date hereof or as
                  required by Law;

            (xi)  make any material change in the accounting methods or
                  practices followed by any of the Group Companies (other than
                  such changes that have been required by Law or U.S. GAAP);

            (xii) enter into any contract that restricts the Group Companies
                  from engaging in any line of business in any geographic area
                  or competing with any Person that materially impairs the
                  operation of the business of the Group Companies, individually
                  or taken as a whole;

            (xiii) enter into any partnership, limited liability company or
                  joint venture agreement;

            (xiv) terminate or make any material amendment to a material
                  contract;

            (xv)  other than (A) in the ordinary course of business, (B) as
                  required by any agreement in effect as of the date hereof or
                  (C) as required by Law, enter into, adopt or amend any
                  employment agreement or employee benefit plan with or for the
                  benefit of any of its employees;

            (xvi) enter into any collective bargaining agreements except for
                  renewals for expired agreements;

            (xvii) purchase, cancel or terminate any insurance policy naming any
                  of the Group Companies as a beneficiary or a loss payee;

            (xviii) subject to the written consent of the Buyer, amend any of
                  its organizational documents; or

            (xix) agree or commit to do any of the foregoing.

            (b) During the period commencing on the date hereof and ending on
the First Closing Date, the Seller and the Seller's shareholder will cause the
Group Companies to afford Buyer and its counsel, accountants and other
authorized representatives, during normal business hours, upon reasonable
advance notice to the officers, directors, employees, accountants and other
advisors and agents, properties, books, records and contracts of the Group
Companies, provided that such access does not interfere with normal business
operations. The parties hereto agree that the provisions of the Confidentiality
Agreement shall continue in full force and effect following the execution and
delivery of this Agreement. All information obtained by the Buyer and its
counsel, accountants and representatives pursuant to this Section 5.1(b) shall
be kept confidential in accordance with the Confidentiality Agreements. Unless
otherwise required by applicable Law, the Seller's Shareholder hereby agrees and
the Seller shall cause each of the Acquired Business Shareholders agree that the
Seller's Shareholder and each of the Acquired Business Shareholders shall, and
shall cause its and the Acquired Business Shareholders' respective officers,
directors, employees, auditors and agents to, hold in confidence all non-public
information acquired from Buyer pursuant to this Section 5.1.

                                       18
<PAGE>

            5.02 Filing and Consents. Each of the Seller, the Seller's
Shareholder and the Group Companies, on the one hand, and the Buyer, on the
other hand, shall use all commercially reasonable efforts to obtain and to
cooperate in obtaining any consent, approval, authorization or order of, and in
making any registration or filing with, any Governmental Authority or other
Person required in connection with the execution, delivery or performance of
this Agreement, including any filings pursuant to (i) the Hart-Scott-Rodino
Antitrust Improvements Act of 1976, as amended; or any other antitrust
regulation, (ii) the Securities Act and Exchange Act, and (iii) any other
applicable filings or consents. To the extent feasible under applicable PRC laws
and regulations, the Seller's Shareholder (including the Chinese resident who
obtains the shares of the Seller after the execution of this Agreement) shall
complete all necessary filings or registrations, or obtain all necessary
approvals, as required by the State Administration for Foreign Exchange ("SAFE")
after the Closing Date. The Seller and the Seller's Shareholder hereby agree
that, with respect to the Acquired Business Shareholder that is a PRC resident
and the Seller's Shareholder (including the Chinese resident who obtains the
shares of the Seller after the execution of this Agreement) (each a "SAFE
Registrant"), unless and until Buyer has received sufficient documentation to
its satisfaction that such SAFE Registrant has completed all necessary filings
or registrations required to comply with the rules and regulations of SAFE, the
Seller shall not release any FM Ordinary Shares to any such SAFE Registrant or
to dispose of any FM Ordinary Shares by any methods.

            5.03 Tax Matters; Cooperation; Preparation of Returns; Tax Elections

            (a) The Seller and the Seller's Shareholder agree to furnish or
cause to be furnished to each other, as promptly as practicable, such
information and assistance relating to any of the Group Companies (including
access to books and records, employees, contractors and representatives) as is
reasonably necessary for the filing of all Tax Returns, the making of any
election related to Taxes, the preparation for any audit by any Taxing
Authority, and the prosecution or defense of any claim, suit or proceeding
relating to any Tax Return. The Seller shall retain all books and records with
respect to Taxes pertaining to the Group Companies until the expiration of all
relevant statutes of limitations. At the end of such period, each party shall
provide the other with at least ten days prior written notice before destroying
any such books and records, during which period the party receiving such notice
can elect to take possession, at its own expense, of such books and records.

            (b) The Company shall prepare, or cause to be prepared, all Tax
Returns in respect of any of the Group Companies for any taxable year ending on
or before the First Closing Date. The Seller shall timely pay to the relevant
Taxing Authority all Taxes due in connection with any such Tax Returns.

            (c) The Group Companies shall pay all transfer, documentary, sales,
use, registration and other such Taxes (including all applicable real estate
transfer Taxes, but excluding any Taxes based on or attributable to income or
gains) and related fees incurred in connection with this Agreement and the
Ancillary Documents and the transactions contemplated hereby and thereby.

            5.04 Non-Competition.

            (a) the Seller and the Seller's Shareholder agree that for a period
of (i) four (4) years following the First Closing Date and (ii) two (2) year
following the

                                       19
<PAGE>

termination or expiration of the Service Agreement entered into between any of
the Seller and Buyer (or a Person designated by Buyer), whichever is later, the
Seller and the Seller's Shareholder will not directly or indirectly engage or
invest (other than investments of less than 2% of the equity securities of any
company listed on a domestic or foreign securities exchange) in any Competitive
Business.

            (b) the Seller and the Seller's Shareholder agree that for a period
of (i) four (4) years following the First Closing Date and (ii) two (2) year
following the termination or expiration of the Service Agreement entered into
between the Seller and Buyer (or a Person designated by Buyer), whichever is
later, the Seller and the Seller's Shareholder shall not, and shall cause its
Affiliates not to, solicit, recruit or hire any person who at any time on or
after the date of this Agreement is an employee of the Group Companies.

            (c) Each of the parties hereto acknowledges and agrees that the
remedy at Law for any breach of the requirements of this Section 5.04 would be
inadequate, and agrees and consents that without intending to limit any
additional remedies that may be available, temporary and permanent injunctive
and other equitable relief may be granted without proof of actual damage or
inadequacy of legal remedy.

            5.05 Transfer of the Cooperation Agreement. The Seller and the
Seller's Shareholder hereby undertake that: prior to the First Closing Date, the
Seller and the Seller's Shareholder will cause Shandong Galvez to transfer to
Beijing Galvez at least 40% of all the Cooperation Agreements (the list of which
is set for the in Schedule 5.05) among Shandong Galvez and Mobile Operators, and
Beijing Galvez will accordingly undertake all the rights and obligations
undertaken by Shandong Galvez in those 40% agreements transferred. The transfer
of the Cooperation Agreements shall be approved by Mobile Operators with written
consent, or, Beijing Galvez shall execute new Cooperation Agreements with Mobile
Operators, so as to replace the Cooperation Agreements among Shandong Galvez and
Mobile Operators, the content of which is subject to the written consent of the
Buyer. In addition, prior to the First Closing Date, the Cooperation Agreements
other than the Cooperation Agreements transferred shall be transferred to
Beijing Galvez prior to June 31 2006, and Beijing Galvez will accordingly take
all the rights and obligations undertaken by Shandong Galvez in those agreements
transferred. The transfer of the such Cooperation Agreements shall be agreed by
Mobile Operators with written consent, or Beijing Galvez shall, prior to June 31
2006, execute new Cooperation Agreements with Mobile Operators so as to replace
the such Cooperation Agreements between and among Shandong Galvez and Mobile
Operators, the content of which is subject to the written consent of the Buyer.

            5.06 Establishment of the Wholly-Foreign Owned Enterprise.

         The Seller and the Seller's Shareholder undertake that prior to the
First Closing Date: (1) cause the Company to establish a wholly-foreign owned
enterprise in Beijing (the issuance of the Business License shall be deemed to
be the completion of the establishment), in which the Company holds all the
equity of interest; (2) such wholly-foreign owned enterprise and Beijing Galvez
shall entered into a series of Controlling Agreements in accordance with the
form set forth in Exhibit 5.06, which is valid, bind and enforceable.

                                       20
<PAGE>

            5.07 Assets and Business Transfer Agreement. The Seller and the
Seller's Shareholder undertake that, prior to the First Closing Date, the Seller
and the Seller's Shareholder will cause Beijing Galvez and Shandong Galvez to
enter into Assets and Business Transfer Agreement in accordance with the form
set forth in Exhibit 5.07. Shandong Galvez shall, pursuant to such agreement,
unconditionally transfer to Beijing Galvez all of its registered trademarks,
copyrights of the computer software, patent and know-how, domain name, figures
data, client information and other fixed assets/intangible
assets/information/documents ("related assets") which are relevant to the wap
push business. In addition, Shandong Galvez shall, pursuant to such agreement,
unconditionally transfer to Beijing Galvez all of its business cooperative
relationship and all the executed Cooperation Agreement among (i) Shandong
Galvez and Mobile Operators, and among (ii) Shandong Galvez and Mobile
Value-Added Business Information Content Service Providers ("SP"). The
formalities of the transfer of the above assets shall be completed prior to the
First Closing Date, while the formality of the transfer of the registered
trademark shall be deemed to be completed upon the issuance of the Notice of the
Acceptance of the Transfer Application by the Trademark Office of State
Administration of Industry and Commerce. If such formalities of transfer fail to
complete prior to the First Closing Date, it shall be completed within
reasonable time, provided, however, that the prior written consent of the Buyer
is given.

            5.08 Execution of the SP Cooperation Agreement. The Seller and the
Seller's Shareholder hereby undertake that, prior to the First Closing Date, the
Seller and the Seller's Shareholder will cause Beijing Galvez and SP to enter
into new Cooperation Agreement so as to replace all the Cooperation Agreements
among Shandong Galvez and SP (the list of which are set forth in Schedule 5.08).
The contents and terms of the Cooperation Agreement shall be subject to the
prior written consent of the Buyer. Seller, the Seller's Shareholder and
Shandong Galvez shall use their commercial reasonable efforts to cause the
execution of such agreements. If Beijing Galvez still fails to execute the
relevant Cooperation Agreements with all SP prior to the First Closing Date, the
non-executed Cooperation Agreements shall be executed by and among Beijing
Galvez and SP prior to June 31 2006.

            5.09 Share Transfer Agreement The Seller and the Seller's
Shareholder hereby undertake to, on or prior to the First Closing Date, cause
all the shareholders of Beijing Galvez (Mr. Xu Mao Dong and Mrs. Zhou Fang) to
enter into Share Transfer Agreement with the company or person designated by the
Buyer in accordance with the form set forth in 5.09, which stipulates that Mr.
Xu Mao Dong and Mrs. Zhou Fang shall once in a time transfer all the equity
interest they held in Beijing Galvez to the company or person designated by the
Buyer. The formalities of the alteration of registration of the above share
shall be completed with 15 days of the First Closing Date.

            5.10 Non-Competition and Confidentiality of Shandong Galvez The
Seller and the Seller's Shareholder hereby undertake that, after the date of
this Agreement, Shandong Galvez shall not engage in any competitive business or
invest any competitive business, and shall not: (1) provide, to other party
other than Beijing Galvez, the Buyer or the Principal Party designated by the
Buyer, the property intellectuals, figures data, client information and other
information/documents it currently owned; (2) retain the photocopies of any
figures data, client information and other information, document, data, files,
records ("client information") , or retain any reports, analysis, collection,
records or

                                       21
<PAGE>

other documents(regardless in writing or by oral, image, electronic or other
ways of illustration), which contains the client information.

            5.11 Key Management Independence

            (a) Buyer agrees that it shall, during the period commencing from
the First Closing Date and ending on December 31, 2008, take all actions
necessary and appropriate to enable the Key Management (means Mr. Xu Mao Dong,
Mr. Zhang Fu Lian, Mr. Wu Yu and Mr. Wang Chang Hong) to continue to run the
Group Companies as an independent business unit of the Buyer, provided that the
Key Management's ability to operate the Group Companies as an independent
business unit shall be subject to (i) the terms of the 2006 Business Plan and
2007 Business Plan as set forth in Schedule 5.11 (the material amendment of
which shall be subject to the written consent of the Buyer) ; (ii) the
compliance with Buyer's code of ethics; (iii) any relevant requirements of the
Sarbanes-Oxley Act and other U.S. securities laws and regulations; and (iv) no
Employee's Misconduct on the part of Key Management. In addition, Group Company
is entitled to dismiss any member of Key Management in case of Employee's
Misconduct.

            (b) If the Buyer fails to comply with 5.11(a), i.e. it dismiss the
member of Key Management under the condition that the provisions stipulated in
5.11(a)are fully complied, the audited net profit of the Company shall be deem
to be reached USD 500million for the year of 2007 and USD 800million for the
year of 2008 respectively. The Buyer shall, accordingly, pay the Seller USD 1.5
million as Earnout in accordance with the time and method as set forth in
Article 2.

            (c) If there is any Employee's Misconduct on the part of the member
of Key Management, the Buyer shall immediately cause the Company to dismiss such
member of Key Management and the Company shall act in accordance with the
request. Under this condition, sub-section (b) hereof shall not apply.

            5.12 The Seller and the Seller's Shareholder undertake that: on or
prior to First Closing Date, the Seller's Shareholder (Mr. Xu Mao Dong) shall
transfer to the Key Management the share of the Seller it holds in accordance
with the former agreement among the Key Management and it. However, upon the
completion of such transfer, Mr. Xu Mao Dong shall still be the biggest
shareholder of the Seller and the share structure of the Seller shall be
consistent with the post order of the Key Management in the Group Company. In
addition, the relevant documents evidencing the completion of the above share
transfer shall deliver to the Buyer on or prior to the First Closing Date.

            5.13 Management Accounts

            Commencing from the First Closing Date until the Second Earnout
Closing Date:

            (a) The Buyer, the Seller and the Seller's Shareholder agree to
cause the Company to provide the management accounts of the Company with respect
to each calendar month, which shall be prepared in accordance with U.S. GAAP or
in accordance with the accounting methods satisfactory to the Buyer. The Company
shall provide to the

                                       22
<PAGE>

Buyer and the Seller the monthly management accounts for the period by the First
Closing Date and such management accounts shall be provided no later than ten
days from the close of the previous calendar month.

            (b) The Buyer, the Seller and the Seller's Shareholder agree to
cause the Company to provide the management accounts of the Company with respect
to each calendar quarter. The Company shall provide the quarterly management
accounts for the period by the First Closing Date to the Buyer and the Seller
and such management accounts shall be provided no later than fifteen days from
the close of the previous calendar quarter.

            (c) Company shall appoint Deloitte Touche Tohmatsu to review the
quarterly management accounts described in paragraph (b) above.

            (d) If the Buyer or the Seller disagrees with the audited quarterly
management accounts, the disagreed party shall give notice to the other party
within 5 business day upon the acceptance of such quarterly management accounts.
The Parties shall consult with each other with respect to the quarterly
management accounts. If no consensus with respect to the quarterly management
accounts can be reached within 10 days upon the issuance of the notice for the
disagreement, the two parties shall jointly appoint another international
accounting firm to review the quarterly management. The result of its review
shall be final and binding to each party. The auditing fees shall be equally
born by the two parties. For the avoidance of doubt, the auditing of such
accounting firm shall be only for the purpose of confirming the net income of
the Company as stipulated in Article II, and shall have no relation to the
figures in the management accounts publicly announced by the Buyer.

            5.14 Appointment of Management

            The Seller agrees to authorize Buyer to appoint a deputy financial
controller for the Company on or following the First Closing Date.

            5.15 Confidentiality

            Each party hereto shall keep confidential, and shall cause its
officers, directors, and employees to keep confidential, the terms and
conditions hereof, of any predecessor agreement and of any Ancillary Document
(collectively, the "Confidential Information") except as Buyer and Seller
mutually agree otherwise; provided that any party may disclose Confidential
Information (i) to the extent advised by competent legal advisors that such
disclosure is required by applicable Law and so long as, where such disclosure
is to a Governmental Authority, such party shall use all reasonable efforts to
obtain confidential treatment of the Confidential Information so disclosed, (ii)
to the extent required by the rules of any stock exchange, (iii) to its
officers, directors, employees and professional advisors as necessary to the
performance of its obligations in connection herewith and with the Ancillary
Documents so long as such party advises each Person to whom the Confidential
Information is so disclosed as to the confidential nature thereof, and (iv) to
its investors and any Person otherwise providing substantial debt or equity
financing to such party so long as the party advises each Person to whom the
Confidential Information is so disclosed as to the confidential nature thereof.

                                       23
<PAGE>

            5.16 Tax Exempt Status

            Seller shall make its best efforts to provide to Buyer documents or
certificates satisfactory to Buyer evidencing that the Group Companies have been
approved for exemption from enterprise income tax or other preferential tax
treatment from April 1 2006 to March 31 2008 by relevant PRC tax authority
pursuant to relevant PRC laws and regulations; provided that should Seller be
unable to secure tax exempt status for the Group Companies on or prior to March
31, 2008, the Seller agree that in connection with the calculation of the
relevant Audited Net Income the rate of tax used in such calculation shall be
33% or the then-effective rate under relevant PRC tax laws and regulations.

            5.17 Supports for Company.

            Buyer undertakes that, following the First Closing Date until March
31 2008, it will provide the Group Company with fund, personnel, brand, market
which are necessary for the business development of Group Company, including but
not limited to:

            (a) Following the date of this Agreement, upon the application of
Beijing Galvez, Buyer or the Person designated by the Buyer shall enter into a
Floating Fund Loan Agreement with Beijing Galvez and release such floating fund
with annual interest of 5% to Beijing Galvez as soon as possible;

            (b) Allow Beijing Galvez to use the name of "Focus Wireless"
following the First Closing Date;

            (c) Other reasonable support for the completion for 2006 Business
Plan and 2007 Business Plan.

            5.18 Announcement

            Without the violation of the law applicable to the Buyer, the
commencing time for the announcement with respect to the transaction under this
Agreement shall be the date of this Agreement. The announcement shall be
arranged by the Buyer.

                                   ARTICLE VI

                      CONDITIONS TO THE SELLER' OBLIGATIONS

            The obligation of the Seller to effect a Closing under this
Agreement as specified below is subject to the satisfaction, at or prior to the
First Closing Date, of each of the following conditions, unless validly waived
in writing by Seller.

            6.01 Representations and Warranties. The representations and
warranties made by Buyer in this Agreement shall be true and correct (in all
material respects, in the case of those representations and warranties which are
not by their express terms qualified by reference to materiality) as of the date
of this Agreement and as of the First Closing Date, except for changes permitted
or contemplated by this Agreement.

            6.02 Performance. Buyer shall have performed and complied in all
material

                                       24
<PAGE>

respects with all agreements and obligations required by this Agreement and the
Ancillary Documents to be so performed or complied with by it prior to the First
Closing Date.

            6.03 No Material Adverse Change. Since the date hereof until the
First Closing Date, there shall not have been any effect or change that would be
materially adverse to the business, assets, condition (financial or otherwise),
operating results, or operations of Buyer and its subsidiaries, taken as a
whole, or to the ability of Buyer to timely consummate the transaction
contemplated by this Agreement or by any of the Ancillary Documents.

            6.04 Injunction. At the First Closing Date, there shall not be in
effect any Law or Governmental Order directing that the transactions provided
for herein not be consummated as provided herein or which has the effect of
rendering it impossible to consummate such transactions.

                                   ARTICLE VII

                        CONDITIONS TO BUYER'S OBLIGATIONS

            The obligation of the Buyer to effect a Closing under this Agreement
as specified below is subject to the satisfaction, at or prior to the First
Closing Date, of each of the following conditions, unless validly waived in
writing by Buyer.

            7.01 The representations and warranties made by Seller in this
Agreement shall be true and correct (in all material respects, in the case of
those representations and warranties which are not by their express terms
qualified by reference to materiality) as of the date of this Agreement and as
of the First Closing Date.

            7.02 Seller shall have performed and complied in all material
respects with all agreements and obligations required by this Agreement and the
Ancillary Documents to be so performed or complied with by it prior to the First
Closing Date.

            7.03 Proceedings and Documents. All corporate and other proceedings
in connection with the transactions contemplated at the First Closing Date, and
all documents incident thereto, shall be in form and substance reasonably
satisfactory to Buyer, and Buyer shall have received all such counterpart
original and certified or other copies of such documents as Buyer may reasonably
request.

            7.04 The consents, waivers, approvals or other authorizations listed
on Schedule 7.04 shall have been obtained by Seller or otherwise satisfied and
shall continue to be in effect, including all consents of any competent
Governmental Authority or, under any of the Ancillary Documents or under other
agreements to be entered into in connection herewith.

            7.05 No Material Adverse Change. From the date of this Agreement
until the First Closing Date, there shall not have been any Material Adverse
Change to the

                                       25
<PAGE>

financial condition and the assets of the Company.

            7.06 No Indebtedness. As of the First Closing Date, the Seller will
have taken such action, or caused the Group Companies to take such action, and
provided to Buyer documentation satisfactory to Buyer, evidencing that none of
the Group Companies has any outstanding indebtedness of any kind, including
without limitation, any loan to Seller or Seller's Shareholder, bank loan or
credits or unpaid liability relating to the Acquisitions.

            7.07 Seller shall, through its officers, deliver to Buyer the
evidence for the satisfaction of conditions as set for the in Schedule 7.07
prior to the First Closing Date.

            7.08 Prior to the First Closing Date, Seller and each of the manager
of the Group Company(name list see Schedule 7.08, including but not limited to
Key Management) shall have executed a Manager Non-Compete Agreement and Service
Agreement in accordance with the form as set forth in Exhibit 7.08, which
agreement is in full force and effect.

            7.09 As of the First Closing Date, each of the employees of the
Group Companies (except for the managers) shall execute an Employee Non-Compete
Agreement with Buyer in accordance with the form as set forth in Exhibit 7.09,
which agreement is in full force and effect.

            7.10 Share Transfer Agreement. On the First Closing Date, all the
shareholders of Beijing Galvez (Mr. Xu Mao Dong and Mrs. Zhou Fang) shall enter
into Share Transfer Agreement with the company or person designated by the Buyer
in accordance with the form set forth in 5.09, which stipulates that Mr. Xu Mao
Dong and Mrs. Zhou Fang shall once in a time transfer all the shares they held
in Beijing Galvez to the company or person designated by the Buyer.

            7.11 Assets and Business Transfer Agreement. Prior to the First
Closing Date, the Seller and the Seller's Shareholder will cause Beijing Galvez
and Shandong Galvez to enter into Assets and Business Transfer Agreement in
accordance with the form set forth in Exhibit 5.07. Shandong Galvez shall,
pursuant to such agreement, unconditionally transfer to Beijing Galvez all of
its registered trademarks, copyrights of the computer software, patent and
know-how, domain name, figures data, client information and other fixed
assets/intangible assets/information/documents ("related assets") which are
relevant to the wap push business. In addition, Shandong Galvez shall, pursuant
to such agreement, unconditionally transfer to Beijing Galvez all of its
business cooperative relationship and all the executed Cooperation Agreement
among (i) Shandong Galvez and Mobile Operators, and among (ii) Shandong Galvez
and Mobile Value-Added Business Information Content Service Providers ("SP").
The formalities of the transfer of the above assets shall be completed prior to
the First Closing Date, while the formality of the transfer of the registered
trademark shall be deemed to be completed upon the issuance of the Notice of the
Acceptance of the Transfer Application by the Trademark Office of State
Administration of Industry and Commerce. If such formalities of transfer fail to
complete prior to the First Closing Date, it shall be completed within
reasonable time, provided, however, that the prior written consent of the Buyer
is given.

            7.12 Transfer of the Cooperation Agreement. Prior to the First
Closing Date, the Seller and the Seller's Shareholder will cause Shandong Galvez
to transfer to Beijing

                                       26
<PAGE>

Galvez at least 40% of all the Cooperation Agreements (the list of which is set
for the in Schedule 5.05) among Shandong Galvez and Mobile Operators, and
Beijing Galvez will accordingly undertake all the rights and obligations
undertaken by Shandong Galvez in those 40% agreements transferred. The transfer
of the Cooperation Agreements shall be approved by Mobile Operators with written
consent, or, Beijing Galvez shall execute new Cooperation Agreements with Mobile
Operators, so as to replace the Cooperation Agreements among Shandong Galvez and
Mobile Operators, the content of which is subject to the written consent of the
Buyer. In addition, prior to the First Closing Date, the Cooperation Agreements
other than the Cooperation Agreements transferred shall be transferred to
Beijing Galvez prior to June 31 2006, and Beijing Galvez will accordingly take
all the rights and obligations undertaken by Shandong Galvez in those agreements
transferred. The transfer of the such Cooperation Agreements shall be agreed by
Mobile Operators with written consent, or Beijing Galvez shall, prior to June 31
2006, execute new Cooperation Agreements with Mobile Operators so as to replace
the such Cooperation Agreements between and among Shandong Galvez and Mobile
Operators, the content of which is subject to the written consent of the Buyer.

            7.13 Establishment of the Wholly-Foreign Owned Enterprise.

            Prior to the First Closing Date: (1) cause the Company to establish
a wholly-foreign owned enterprise in Beijing (the issuance of the Business
License shall be deemed to be the completion of the establishment), in which the
Company holds all the equity of interest; (2) such wholly-foreign owned
enterprise and Beijing Galvez shall entered into a series of Controlling
Agreements in accordance with the form set forth in Exhibit 5.06, which is
valid, bind and enforceable.

            7.14 Execution of the SP Cooperation Agreement. Prior to the First
Closing Date, the Seller and the Seller's Shareholder will cause Beijing Galvez
and SP to enter into new Cooperation Agreement so as to replace all the
Cooperation Agreements among Shandong Galvez and SP (the list of which are set
forth in Schedule 5.08). The contents and terms of the Cooperation Agreement
shall be subject to the prior written consent of the Buyer. Seller, the Seller's
Shareholder and Shandong Galvez shall use their commercial reasonable efforts to
cause the execution of such agreements. If Beijing Galvez still fails to execute
the relevant Cooperation Agreements with all SP prior to the First Closing Date,
the Cooperation Agreements not executed shall be executed by and among Beijing
Galvez and SP prior to June 31 2006.

            7.15 Financial Statement. On or prior to the First Closing Date,
Buyer shall have received the consolidated financial statements of the Company
as of February 2006, which shall be substantially complete in all material
respects and contain key financial data reasonably acceptable to Buyer; it being
understood that the specific figures and data contained therein will not form
the basis for calculating any of the Consideration

            7.16 Seller's Corporate Documents. On or prior to the First Closing
Date, each of the Seller Corporate Documents, a list of which is attached hereto
as Schedule 7.16, shall have been entered into and consummated by the Seller and
Seller's Shareholder and is in full force and effect.

            7.17 Management Appointment. Seller shall have authorized Buyer to

                                       27
<PAGE>

appoint the deputy financial controller for the Company .

            7.18 Intellectual Property Transfer. All the intellectual property
set forth in Schedule 7.18 hereto, which is held in the name or for the benefit
of Mr. Xu Mao Dong shall have been transferred to Beijing Galvez prior to the
First Closing Date without any cost to Buyer.

            7.19 Corporate Matters; Memorandum and Articles of Association. On
or prior to the First Closing Date, Seller shall have provided documentation to
Buyer's reasonable satisfaction evidencing that (i) all shares of Company are
ordinary shares, (ii) all outstanding options (if any) of Company have been
cancelled, (iii) the memorandum and articles of association of Company has been
converted to a standard British Virgin Islands form (using the standard form of
Offshore Incorporations Limited) which has no preferred shares or protective
provisions for investors provided therein and filed and registered with the
British Virgin Islands Companies Registry.

            7.20 Opinions of Counsel. As of the First Closing Date, Buyer shall
have received from PRC counsel written opinions in form and substance
satisfactory to Buyer.

            7. 21 Material Adverse Change. On or after the date hereof and prior
to the First Closing Date, there shall not have occurred any of the following:
(A) a suspension or material limitation in trading in securities generally on
the NASDAQ National Market, (B) a suspension or material limitation in trading
in Buyer's securities on the NASDAQ National Market, (C) a general moratorium on
commercial banking activities in New York, the PRC or the British Virgin Islands
declared by the relevant authorities, or a material disruption in commercial
banking or securities settlement or clearance services in the United States, the
PRC or the British Virgin Islands, (D) the outbreak or escalation of hostilities
involving the United States, the PRC or the British Virgin Islands or the
declaration by the United States, the PRC or the British Virgin Islands of a
national emergency or war or (E) the occurrence of any other calamity or crisis
or any change in financial, political or economic conditions or currency
exchange rates or controls in the United States, the PRC, the British Virgin
Islands or elsewhere, if the effect of any such event specified in clause (D) or
(E) in the judgment of Buyer makes it impracticable or inadvisable to proceed
with the transaction contemplated in this Agreement and the Ancillary Documents.

            7.22 Injunction. On the First Closing Date, there shall not be in
effect any Law or Governmental Order directing that the transactions provided
for herein not be consummated as provided herein or which has the effect of
rendering it impossible to consummate such transactions.

            7.23 Distribution of Shares. On or prior to the First Closing Date,
Seller's Shareholder (Mr. Xu Mao Dong) shall transfer to the Key Management the
share of the Seller it holds in accordance with the former agreement among the
Key Management and it. However, upon the completion of such transfer, Mr. Xu Mao
Dong shall be the biggest shareholder of the Seller and the share structure of
the Seller shall be consistent with the post order of the Key Management in the
Group Company. In addition, the relevant documents evidencing the completion of
the above share transfer shall deliver to the Buyer on or prior to the First
Closing Date.

                                       28
<PAGE>

                                  ARTICLE VIII

                                   TERMINATION

            8.01 Termination. This Agreement may be terminated at any time prior
to the First Closing Date:

            (a)   by the mutual written consent of the Seller and the Buyer;

            (b)   by either the Seller or the Buyer if any Governmental
                  Authority of competent jurisdiction shall have issued an
                  order, decree or ruling or taken any other action restraining,
                  enjoining or otherwise prohibiting the transactions
                  contemplated hereby and such order, decree or ruling or other
                  action shall have become final and non-appealable;

            (c)   by Buyer, if Seller breach or fail to perform in any respect
                  any of their representations, warranties or covenants
                  contained in this Agreement or any Ancillary Document and such
                  breach or failure to perform (A) would give rise to the
                  failure of a condition set forth in Article VII, (B) cannot be
                  or has not been cured within 15 business days following
                  written notice of such breach or failure to perform and (C)
                  has not been waived by Buyer.

            (d)   by Seller, if Buyer breaches or fails to perform in any
                  respect any of its representation, warranties or covenants
                  contained in this Agreement or any Ancillary Document and such
                  breach or failure to perform (A) would give rise to the
                  failure of a condition set forth in Article VI, (B) cannot be
                  or has not been cured within 15 business days following
                  written notice of such breach or failure to perform and (C)
                  has not been waived by Seller.

            (e)   by either Seller or Buyer, subject to Section 2.04(c) of this
                  Agreement.

            8.02 Procedure and Effect of Termination.

            In the event of the termination of this Agreement and the
abandonment of the transactions contemplated hereby pursuant to Section 8.01
hereof, written notice thereof shall forthwith be given to all other parties. If
this Agreement is terminated and the transactions contemplated by this Agreement
are abandoned as provided herein:

            (a)   The Buyer will redeliver to the Seller all documents, work
                  papers and other material of any the Seller relating to the
                  transactions contemplated hereby, whether so obtained before
                  or after the execution hereof;

            (b)   The provisions of the Confidentiality Agreements shall
                  continue in full

                                       29
<PAGE>

                  force and effect; and,

            (c)   No party to this Agreement will have any liability under this
                  Agreement to any other except (i) that nothing herein shall
                  relieve any party from any liability for any willful breach of
                  any of the representations, warranties, covenants and
                  agreements set forth in this Agreement, and (ii) as
                  contemplated by paragraph (b) above.

            8.03 Liquidated Damages.

            During the period from the date of this Agreement to the First
Closing Date, either the Seller or the Buyer terminating this Agreement
unilaterally with no reasonable excuse, or delaying the performance of its
obligations under this Agreement, which cause this Agreement unenforceable,
shall be responsible for paying the other party an amount of liquidated damages
as for USD15million. Such liquidated damages shall be paid in the form of cash
or the shares of the listed company.

            8.04 Force Majeure.

            (a) If Force Majeure occurs in the period from the date of this
Agreement to the First Closing Date, either party is entitled to terminate this
Agreement unilaterally without any liability of breach. The Force Majeure
expressed in this article shall cover all the events which lead to the
non-enforcement of this Agreement by either party. Such events, which cannot be
imputed to any party and are unforeseeable, unavoidable and insurmountable,
shall include but not limit to any strike, shutdown of the factory, explosion,
shipwrech, natural disasters or hostility, fire, flood, destruction, incidental
affairs, war, insurgence, rebellion, interruption of traffic or other similar
affairs and the promulgation of the relevant regulations regarding the
telecommunication business, the circular by the telecommunication
authorities(include but not limit to Ministry of Information Industry and local
communication administrations) or the policies adopted by telecommunication
operators, which render the initial business purpose of the Group Company
unrealizable or the daily business of the Group Company not being normally
operative.

            (b) If Force Majeure occurs during the First Closing Date and March
31 2008, and the Force Majeure renders the business of Group Company being
non-operative, the calculation of the Net Incomes of the relevant year shall
deduct the costs and the profits generated during the period of the Force
Majeure; at the same time, the deadline of the relevant accounting year shall be
accordingly extended. The period extended shall be as long as the period of the
Force Majeure. The Force Majeure expressed in this article shall refer to
strike, shutdown of the factory, explosion, shipwrech, natural disasters or
hostility, fire, flood, destruction, incidental affairs, war, insurgence,
rebellion, interruption of traffic or infective viral affairs.

                                       30
<PAGE>

                                   ARTICLE IX

                                 INDEMNIFICATION

            9.01 Indemnification

            (a) Indemnification by the Seller and Seller's Shareholder

               (i) Subject to the limits set forth in this Section 9.01, after
the First Closing Date, the Seller agree to indemnify the Buyer, its Affiliates
(including, after the First Closing Date, the Group Companies) and its
respective officers, directors, stockholders, employees, agents and
representatives (the "Buyer Indemnified Persons") harmless from and in respect
of any and all losses, damages, costs and reasonable expenses (collectively,
"Losses"). The Seller's aggregate liability for such Losses shall not exceed
USD1million, provided, however, that where such Losses are the result of the
gross negligence or willful misconduct of any of the Key Management, the
aggregate liability of the such Losses shall not exceed the Value of the
Aggregate Consideration paid by the Buyer. The representations and warranties of
the Seller set forth in Article III of this Agreement shall survive for a period
of two (2) years immediately following the First Closing Date (the "Indemnity
Period").

               (ii) Subject to the limits set forth in this Section 9.1, after
the First Closing Date, the Seller's Shareholders agree to indemnify the Buyer
Indemnified Persons harmless from and in respect of any and all Losses that they
may incur arising out of or due to any breach any of the representations or
warranties of Article III, provided, however that Seller's Shareholder liability
for such Losses shall in no event exceed USD 1 million. The representations and
warranties of the Seller's Shareholders set forth in Article III of this
Agreement shall survive for the Indemnity Period.

            (b) Indemnification by the Buyer.

            Subject to the limits set forth in this Section 9.01, after the
First Closing Date, Buyer agrees to indemnify the Seller and its Affiliates and
its respective officers, directors, stockholders, employees, agents and
representatives (the "Seller Indemnified Persons") harmless from and in respect
of any and all losses, damages, costs and reasonable expenses (collectively,
"Losses"), provided, however, that the Losses that Seller may obtain in
accordance with the section hereof shall not exceed USD 1million, unless
otherwise agreed in this Agreement. The representations and warranties of the
Buyer set forth in Article IV of this Agreement shall survive for a period of
six (6) months immediately following the First Closing Date.

            (c) Indemnification as Exclusive Remedy

            The indemnification provided in this Article IX, subject to the
limitations set forth herein, shall be the exclusive remedy available to any
party in connection with any Losses arising out of or resulting from this
Agreement, the transactions contemplated hereby, any property owned, based or
subleased by any of the Group Companies or otherwise regarding any of the Group
Companies.

            (d) Notice and Opportunity to Defend

            If there occurs an event which a party asserts is an indemnifiable
event pursuant to Section 9.01, the party or parties seeking indemnification
shall notify the

                                       31
<PAGE>

other party or parties obligated to provide indemnification (the "Indemnifying
Party") promptly. If such event involves any claim or the commencement of any
action or proceeding by a third person, the party seeking indemnification will
give such Indemnifying Party prompt written notice of such claim or the
commencement of such action or proceeding; provided, however, that the failure
to provide prompt notice as provided herein will relieve the Indemnifying Party
of its obligations hereunder only to the extent that such failure prejudices the
Indemnifying Party hereunder. In case any such action shall be brought against
any party seeking indemnification and it shall notify the Indemnifying Party of
the commencement thereof, the Indemnifying Party shall be entitled to assume the
defense thereof, with counsel selected by the Indemnifying Party and, after
notice from the Indemnifying Party to such party or parties seeking
indemnification of such election so to assume the defense thereof, the
Indemnifying Party shall not be liable to the party or parties seeking
indemnification hereunder for any legal expenses of other counsel or any other
expenses subsequently incurred by such party or parties in connection with the
defense thereof. The Indemnifying Party and the party seeking indemnification
agree to cooperate fully with each other and their respective counsel in
connection with the defense, negotiation or settlement of any such action or
asserted liability. In no event shall an Indemnifying Party be liable for any
settlement effected without its written consent.

                                    ARTICLE X

                                  MISCELLANEOUS

            10.01 Notices. Any notice, demand, or communication required or
permitted to be given by any provision of this Agreement shall be deemed to have
been sufficiently given or served for all purposes if (i) personally delivered,
(ii) sent by a nationally recognized overnight courier service to the recipient
at the address below indicated or (iii) delivered by facsimile which is
confirmed in writing by sending a copy of such facsimile to the recipient
thereof pursuant to clause (i) or (ii) above:

            If to the Seller:

                   DALLSFIELD LTD.
                   503, HuiZhong Science Technology Building
                   1 ShangDiQi Street, Hai Dian District
                   Beijing
                   Attn: Xu Mao Dong
                   Tax: +86 10 6296 7995, 13963335555
                   Fax: +86 10 62963243(fax)

                                       32
<PAGE>

            If to the Buyer:

                   FOCUS MEDIA HOLDING LIMITED
                   Add:
                   Attn:
                   Tel:
                   Fax:

            If to the Company:

                   DOTAD MEDIA HOLDINGS LIMITED
                   503,HuiZhong Science Technology Building
                   1 ShangDiQi Street, Hai Dian District
                   Beijing
                   Attn: Xu Mao Dong
                   Tel: +86 10 6296 7995, 13963335555
                   Fax: +86 10 62963243

            If to any of the Seller's Shareholder:

                   503,HuiZhong Science Technology Building
                   1 ShangDiQi Street, Hai Dian District
                   Beijing
                   Attn: Xu Mao Dong
                   Tel: +86 10 6296 7995, 13963335555
                   Fax: +86 10 62963243(fax)

or to such other address as any party hereto may, from time to time, designate
in a written notice given in like manner.

            10.02 Fees and Expenses. Except as otherwise provided in this
Agreement, each party shall bear its own expenses in connection with the
preparation and negotiation of this Agreement and the Ancillary Documents and
the consummation of the transactions contemplated hereby and thereby.

            10.03 Governing Law. This Agreement shall be construed under and
governed by the Laws of Hong Kong Special Administration Region.

            10.04 Dispute Resolution

            (a) Any dispute, controversy or claim arising out of or relating to
this Agreement, or the interpretation, breach, termination or validity hereof,
shall be resolved through consultation. Such consultation shall begin
immediately after one party hereto has delivered to any other party hereto a
written request for such consultation.

                                       33
<PAGE>

            (b) If within 90 days following the date on which such notice is
given the dispute cannot be resolved, the dispute shall be submitted to
arbitration upon the request of either party with notice to the other. The
arbitration shall be conducted in Hong Kong under the auspices of the Hong Kong
International Arbitration Centre (the " HKIAC").

            (c) The arbitration tribunal shall consist of three arbitrators.
Each opposing party to a dispute shall be entitled to appoint one arbitrator,
and the third arbitrator shall be jointly appointed by the disputing parties.
The third arbitrator shall be the chief arbitrator.

            (d) The arbitration proceedings shall be conducted in English and
Chinese. The award of the arbitration tribunal shall be final and binding upon
the disputing parties. Either party shall be entitled to seek preliminary
injunctive relief from any court of competent jurisdiction pending the
constitution of the arbitral tribunal. And the prevailing party may apply to the
arbitration tribunal for recovering all the expenses (including reasonable
attorney fees and other arbitration costs).

            10.05 Counterparts. This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement and
each of which shall be deemed an original.

            10.06 Amendment. This Agreement may not be amended, modified or
supplemented except upon the execution and delivery of a written agreement
executed by the parties hereto.

            10.07 Waiver. Any of the terms or conditions of this Agreement which
may be lawfully waived may be waived in writing at any time by each party which
is entitled to the benefits thereof. Any waiver of any of the provisions of this
Agreement by any party hereto shall be binding only if set forth in an
instrument in writing signed on behalf of such party. No failure to enforce any
provision of this Agreement shall be deemed to or shall constitute a waiver of
such provision and no waiver of any of the provisions of this Agreement shall be
deemed to or shall constitute a waiver of any other provision hereof (whether or
not similar) nor shall such waiver constitute a continuing waiver.

            10.08 Assignment. No Party may assign its rights or obligations
under this Agreement without the prior written consent of each other party and
any purported assignment without such consent shall be void and without effect.

            10.09 Entire Agreement. This Agreement contains the entire
understanding of the parties with respect to the subject matter hereof and
thereof and supersedes all prior agreements and understandings, both written and
oral, between the parties with respect to the subject matter hereof and thereof.

            10.10 Further Assurances. Each Party shall execute all such
documents and do all such Other things within its power as may be required to
give full effect to the terms of this Agreement or to vest in any other Party
its full rights and entitlements hereunder.

            10.11 Provisions Severable. If any provision of this Agreement is
held to be illegal, invalid Or unenforceable under any present or future law,
(i) such provision will be fully severable, (ii) this Agreement will be
construed and enforced as if such illegal, invalid or enforceable provision had
never comprised a part hereof, and (iii) the remaining provisions of this
Agreement will remain in full force and effect and will not be affected by the
illegal,

                                       34
<PAGE>

invalid and unenforceable provision or by its severance herefrom, it being
intended that the rights of the Parties hereunder shall be enforceable to the
fullest extent permitted by law.

            10.12 Provisions Modifiable. If any restriction on any Party
hereunder shall be adjudged to be void or unenforceable because it exceeds what
is reasonable in all the circumstances for the protection of the interests of
the Parties or any of them but would be valid if part of the wording thereof
were deleted or the periods thereof reduced or range of activities or area dealt
with thereby reduced in scope, such restriction shall apply with such
modifications as may be necessary to make it valid and effective.

            10.13 Headings. The headings contained in this Agreement are for
reference only and shall not affect in any way the meaning or interpretation of
this Agreement.

            10.14 Language. This Agreement was written in Chinese.

                                       35
<PAGE>

           IN WITNESS WHEREOF, each of the parties hereto has caused this
Agreement to be executed in Shanghai, in each case as of the date first above
written.

DALLSFIELD LTD.                            FOCUS MEDIA HOLDING LIMITED

Sign:                                      Sign: /s/ Jason Nanchun Jiang
        /s/ Xu MaoDong
     --------------------------                 ------------------------------
     Name: Xu Mao Dong                          Name:
     Post: Authorized Representative            Post: Authorized Representative

DOTAD MEDIA HOLDINGS LIMITED               SELLER'S SHAREHOLDER

Sign:                                      Sign: /s/ Xu Mao Dong
        /s/ Xu MaoDong
     --------------------------                 ----------------------
         Name: Xu Mao Dong                      Name: Xu Mao Dong
         Post: Authorized Representative

                                       36

<PAGE>

                                    SCHEDULES

Schedule 1.1        List of the Member of Group Company

Schedule 1.3        Scope of the Value Added Telecommunication Business which
                    Involves any Party of this Agreement

Schedule 1.4        List of Acquired Enterprises

Schedule 1.5        Controlling Agreements

Schedule 1.6        Ancillary Document

Schedule 3.02       Company Liabilities

Schedule 3.04       Share Capital of Company

Schedule 3.05       Group Companies Information

Schedule 3.09       List of Group Companies' Licenses, Consents, Authorizations,
                    Approvals, and Permits

Schedule 3.12(c)    Benefit plan, salary or other material benefits with respect
                    to the employee, former employee, consultant, agent or
                    director of the Group Companies

Schedule 3.17       Material Contracts

Schedule 5.05       Cooperation Agreement among Shandong Galvez and Mobile
                    Operators

Schedule 5.08       Cooperation Agreement among Shandong Galvez and Mobile
                    Value-Added Business Information Content Service Providers
                    (SP)

Schedule 5.11       2006 Business Plan and 2007 Business Plan

Schedule 7.04       List of Consents, Waivers, Approvals or Other Authorizations
                    Obtained by Seller

Schedule 7.07       List of Conditions to Satisfied by Seller Prior to First
                    Closing Date

Schedule 7.08       Manager of the Group Company and Seller

Schedule 7.16       Seller's Corporate Documents

Schedule 7.18       Transferred Intellectual Property

                                    EXHIBITS

Exhibit 5.06        Form of Controlling Agreement

Exhibit 5.07        Form of Assets and Business Transfer Agreement

Exhibit 5.09        Form of Share Transfer Agreement

Exhibit 7.08         Form of Manager Non-Compete Agreement and Service Agreement

Exhibit 7.09        Form of Employee Non-Compete Agreement

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00104-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00104-of-00352.parquet"}]]