Document:

INVESTMENT MANAGEMENT TRUST AGREEMENT

            This Agreement is made as of _____________, 2006 by and between
China Opportunity Acquisition Corp. (the "Company") and Continental Stock
Transfer & Trust Company ("Trustee").

            WHEREAS, the Company's registration statement on Form S-1, No.
333-______ ("Registration Statement"), for its initial public offering of
securities ("IPO") has been declared effective as of the date hereof ("Effective
Date") by the Securities and Exchange Commission (capitalized terms used herein
and not otherwise defined shall have the meanings set forth in the Registration
Statement); and

            WHEREAS, EarlyBirdCapital, Inc. ("EBC") is acting as the
representative of the underwriters in the IPO; and

            WHEREAS, as described in the Registration Statement, and in
accordance with the Company's Certificate of Incorporation, $34,560,000.20 of
the gross proceeds of the IPO and sale of the Insider Units (as defined in the
Registration Statement) ($39,717,000.20 if the underwriters over-allotment
option is exercised in full) will be delivered to the Trustee to be deposited
and held in a trust account for the benefit of the Company and the holders of
the Company's common stock, par value $.0001 per share, issued in the IPO as
hereinafter provided and in the event the Units are registered in Colorado,
pursuant to Section 11-51-302(6) of the Colorado Revised Statutes. A copy of the
Colorado Statute is attached hereto and made a part hereof (the amount to be
delivered to the Trustee will be referred to herein as the "Property"; the
stockholders for whose benefit the Trustee shall hold the Property will be
referred to as the "Public Stockholders," and the Public Stockholders and the
Company will be referred to together as the "Beneficiaries"); and

            WHEREAS, the Company and the Trustee desire to enter into this
Agreement to set forth the terms and conditions pursuant to which the Trustee
shall hold the Property;

            IT IS AGREED:

1.    Agreements and Covenants of Trustee. The Trustee hereby agrees and
covenants to:

            (a)   Hold the Property in trust for the Beneficiaries in
accordance with the terms of this Agreement, including the terms of Section
11-51-302(6) of the Colorado Statute, in a segregated trust account ("Trust
Account") established by the Trustee;

            (b)   Manage, supervise and administer the Trust Account subject to
the terms and conditions set forth herein;

            (c)   In a timely manner, upon the instruction of the Company, to
invest and reinvest the Property in United States "government securities" within
the meaning of Section 2(a)(16) of the Investment Company Act of 1940 having a
maturity of 180 days or less, and/or in any open ended investment company
registered under the Investment Company Act of 1940 that holds itself out as a
money market fund selected by the Company meeting the conditions of

paragraphs (c)(2), (c)(3) and (c)(4) of Rule 2a-7 promulgated under the
Investment Company Act of 1940, as determined by the Company;

            (d)   Collect and receive, when due, all principal and income
arising from the Property, which shall become part of the "Property," as such
term is used herein;

            (e)   Notify the Company of all communications received by it with
respect to any Property requiring action by the Company;

            (f)   Supply any necessary information or documents as may be
requested by the Company in connection with the Company's preparation of its
returns;

            (g)   Participate in any plan or proceeding for protecting or
enforcing any right or interest arising from the Property if, as and when
instructed by the Company to do so;

            (h)   Render to the Company and to EBC, and to such other person as
the Company may instruct, monthly written statements of the activities of and
amounts in the Trust Account reflecting all receipts and disbursements of the
Trust Account; and

            (i)   Commence liquidation of the Trust Account only after and
promptly after receipt of, and only in accordance with, the terms of a letter
("Termination Letter"), in a form substantially similar to that attached hereto
as either Exhibit A or Exhibit B hereto, signed on behalf of the Company by its
President or Chairman of the Board and Secretary or Assistant Secretary and
affirmed by counsel for the Company, and complete the liquidation of the Trust
Account and distribute the Property in the Trust Account only as directed in the
Termination Letter and the other documents referred to therein; provided,
however, that in the event that a Termination Letter has not been received by
the Trustee by the 24-month anniversary of the effective date of the
Registration Statement ("Last Date"), the Trust Account shall be liquidated in
accordance with the procedures set forth in the Termination Letter attached as
Exhibit B hereto and distributed to the stockholders of record on the Last Date.
In all cases, the Trustee shall provide EBC with a copy of any Termination
Letters and/or any other correspondence that it receives with respect to any
proposed withdrawal from the Trust Account promptly after it receives same. The
provisions of this Section 1(i) may not be modified, amended or deleted under
any circumstances.

            (j)   Upon written request from the Company, which may be given
from time to time at any time after _____________, 2007 in a form substantially
similar to that attached hereto as Exhibit C, the Trustee shall distribute to
the Company the amount requested by the Company to cover expenses related to
investigating and selecting a target business, income and other taxes and other
working capital requirements; provided, however, that (i) such distribution
shall be only from income collected on the Property and (ii) the aggregate
amount of all such distributions shall not exceed $250,000.

                                        2

2.    Agreements and Covenants of the Company. The Company hereby agrees and
covenants to:

            (a)   Give all instructions to the Trustee hereunder in writing,
signed by the Company's Chairman of the Board or President. In addition, except
with respect to its duties under paragraphs 1(i) and 1(j) above, the Trustee
shall be entitled to rely on, and shall be protected in relying on, any verbal
or telephonic advice or instruction which it in good faith believes to be given
by any one of the persons authorized above to give written instructions,
provided that the Company shall promptly confirm such instructions in writing;

            (b)   Hold the Trustee harmless and indemnify the Trustee from and
against, any and all expenses, including reasonable counsel fees and
disbursements, or loss suffered by the Trustee in connection with any action,
suit or other proceeding brought against the Trustee involving any claim, or in
connection with any claim or demand which in any way arises out of or relates to
this Agreement, the services of the Trustee hereunder, or the Property or any
income earned from investment of the Property, except for expenses and losses
resulting from the Trustee's gross negligence or willful misconduct. Promptly
after the receipt by the Trustee of notice of demand or claim or the
commencement of any action, suit or proceeding, pursuant to which the Trustee
intends to seek indemnification under this paragraph, it shall notify the
Company in writing of such claim (hereinafter referred to as the "Indemnified
Claim"). The Trustee shall have the right to conduct and manage the defense
against such Indemnified Claim, provided, that the Trustee shall obtain the
consent of the Company with respect to the selection of counsel, which consent
shall not be unreasonably withheld. The Trustee may not agree to settle any
Indemnified Claim without the prior written consent of the Company unless such
settlement includes a full release of the Company with respect to such
Indemnified Claim. The Company may participate in such action with its own
counsel;

            (c)   Pay the Trustee an initial acceptance fee, an annual fee and a
transaction processing fee for each disbursement made pursuant to Sections 1(j)
as set forth on Schedule A hereto, which fees shall be subject to modification
by the parties from time to time. It is expressly understood that the Property
shall not be used to pay such fees and further agreed that said transaction
processing fees shall be deducted by the Trustee from accumulated income at the
time that disbursements are made to the Company pursuant to Section 1(j). The
Company shall pay the Trustee the initial acceptance fee and first year's fee at
the consummation of the IPO and thereafter on the anniversary of the Effective
Date. The Trustee shall refund to the Company the annual fee (on a pro rata
basis) with respect to any period after the liquidation of the Trust Fund. The
Company shall not be responsible for any other fees or charges of the Trustee
except as set forth in this Section 2(c) and as may be provided in Section 2(b)
hereof (it being expressly understood that the Property shall not be used to
make any payments to the Trustee under such Sections);

            (d)   Provide to the Trustee any letter of intent, agreement in
principle or definitive agreement for a Business Combination that is executed on
or prior to the First Date; and

            (e)   In connection with any vote of the Company's stockholders
regarding a Business Combination, provide to the Trustee an affidavit or
certificate of a firm regularly engaged

                                        3

in the business of soliciting proxies and/or tabulating stockholder votes (which
firm may be the Trustee) verifying the vote of the Company's stockholders
regarding such Business Combination.

3.    Limitations of Liability. The Trustee shall have no responsibility or
liability to:

            (a)   Take any action with respect to the Property, other than as
directed in paragraph 1 hereof and the Trustee shall have no liability to any
party except for liability arising out of its own gross negligence or willful
misconduct;

            (b)   Institute any proceeding for the collection of any principal
and income arising from, or institute, appear in or defend any proceeding of any
kind with respect to, any of the Property unless and until it shall have
received instructions from the Company given as provided herein to do so and the
Company shall have advanced or guaranteed to it funds sufficient to pay any
expenses incident thereto;

            (c)   Change the investment of any Property, other than in
compliance with paragraph 1(c);

            (d)   Refund any depreciation in principal of any Property;

            (e)   Assume that the authority of any person designated by the
Company to give instructions hereunder shall not be continuing unless provided
otherwise in such designation, or unless the Company shall have delivered a
written revocation of such authority to the Trustee;

            (f)   The other parties hereto or to anyone else for any action
taken or omitted by it, or any action suffered by it to be taken or omitted, in
good faith and in the exercise of its own best judgment, except for its gross
negligence or willful misconduct. The Trustee may rely conclusively and shall be
protected in acting upon any order, notice, demand, certificate, opinion or
advice of counsel (including counsel chosen by the Trustee), statement,
instrument, report or other paper or document (not only as to its due execution
and the validity and effectiveness of its provisions, but also as to the truth
and acceptability of any information therein contained) which is believed by the
Trustee, in good faith, to be genuine and to be signed or presented by the
proper person or persons. The Trustee shall not be bound by any notice or
demand, or any waiver, modification, termination or rescission of this Agreement
or any of the terms hereof, unless evidenced by a written instrument delivered
to the Trustee signed by the proper party or parties and, if the duties or
rights of the Trustee are affected, unless it shall give its prior written
consent thereto;

            (g)   Verify the correctness of the information set forth in the
Registration Statement or to confirm or assure that any acquisition made by the
Company or any other action taken by it is as contemplated by the Registration
Statement; and

            (h)   Pay any taxes on behalf of the Trust Account.

                                        4

4.    Termination. This Agreement shall terminate as follows:

            (a)   If the Trustee gives written notice to the Company that it
desires to resign under this Agreement, the Company shall use its reasonable
efforts to locate a successor trustee. At such time that the Company notifies
the Trustee that a successor trustee has been appointed by the Company and has
agreed to become subject to the terms of this Agreement, the Trustee shall
transfer the management of the Trust Account to the successor trustee, including
but not limited to the transfer of copies of the reports and statements relating
to the Trust Account, whereupon this Agreement shall terminate; provided,
however, that, in the event that the Company does not locate a successor trustee
within ninety days of receipt of the resignation notice from the Trustee, the
Trustee may submit an application to have the Property deposited with any court
in the State of New York or with the United States District Court for the
Southern District of New York and upon such deposit, the Trustee shall be immune
from any liability whatsoever; or

            (b)   At such time that the Trustee has completed the liquidation of
the Trust Account in accordance with the provisions of paragraph 1(i) hereof,
and distributed the Property in accordance with the provisions of the
Termination Letter, this Agreement shall terminate except with respect to
Paragraph 2(b).

5.    Miscellaneous.

            (a)   The Company and the Trustee each acknowledge that the Trustee
will follow the security procedures set forth below with respect to funds
transferred from the Trust Account. Upon receipt of written instructions, the
Trustee will confirm such instructions with an Authorized Individual at an
Authorized Telephone Number listed on the attached Exhibit D. The Company and
the Trustee will each restrict access to confidential information relating to
such security procedures to authorized persons. Each party must notify the other
party immediately if it has reason to believe unauthorized persons may have
obtained access to such information, or of any change in its authorized
personnel. In executing funds transfers, the Trustee will rely upon account
numbers or other identifying numbers of a beneficiary, beneficiary's bank or
intermediary bank, rather than names. The Trustee shall not be liable for any
loss, liability or expense resulting from any error in an account number or
other identifying number, provided it has accurately transmitted the numbers
provided.

            (b)   This Agreement shall be governed by and construed and enforced
in accordance with the laws of the State of New York, without giving effect to
conflicts of law principles that would result in the application of the
substantive laws of another jurisdiction. It may be executed in several original
or facsimile counterparts, each one of which shall constitute an original, and
together shall constitute but one instrument.

            (c)   This Agreement contains the entire agreement and understanding
of the parties hereto with respect to the subject matter hereof. Except for
Section 1(i) (which may not be amended under any circumstances), this Agreement
or any provision hereof may only be changed, amended or modified by a writing
signed by each of the parties hereto; provided, however, that no such change,
amendment or modification may be made without the prior written consent of EBC.

                                        5

As to any claim, cross-claim or counterclaim in any way relating to this
Agreement, each party waives the right to trial by jury.

            (d)   The parties hereto consent to the jurisdiction and venue of
any state or federal court located in the City of New York, Borough of
Manhattan, for purposes of resolving any disputes hereunder.

            (e)   Any notice, consent or request to be given in connection with
any of the terms or provisions of this Agreement shall be in writing and shall
be sent by express mail or similar private courier service, by certified mail
(return receipt requested), by hand delivery or by facsimile transmission:

            if to the Trustee, to:

                  Continental Stock Transfer
                   & Trust Company
                  17 Battery Place
                  New York, New York 10004
                  Attn: Steven G. Nelson
                  Fax No.: (212) 509-5150

            if to the Company, to:

                  China Opportunity Acquisition Corp.
                  354 East 50th Street
                  New York, New York 10022
                  Attn: Chief Executive Officer
                  Fax No.: (___) ___-____

            in either case with a copy to:

                  EarlyBirdCapital, Inc.
                  275 Madison Avenue, Suite 1203
                  New York, New York 10016
                  Attn: David M. Nussbaum
                  Fax No.: (212) 269-3796

            (f)   This Agreement may not be assigned by the Trustee without the
prior consent of the Company.

                                        6

            (g)   Each of the Trustee and the Company hereby represents that it
has the full right and power and has been duly authorized to enter into this
Agreement and to perform its respective obligations as contemplated hereunder.
The Trustee acknowledges and agrees that it shall not make any claims or proceed
against the Trust Account, including by way of set-off, and shall not be
entitled to any funds in the Trust Account under any circumstance.

            (h)   Each of the Company and the Trustee hereby acknowledge that
EBC is a third party beneficiary of this Agreement.

                                        7

            IN WITNESS WHEREOF, the parties have duly executed this Investment
Management Trust Agreement as of the date first written above.

                                        CONTINENTAL STOCK TRANSFER & TRUST
                                        COMPANY, as Trustee

                                        By: _________________________________
                                            Name:
                                            Title:

                                        CHINA OPPORTUNITY ACQUISITION CORP.

                                        By: _________________________________
                                            Name:
                                            Title:

                                        8

                                                                      SCHEDULE A

--------------------------------------------------------------------------------
FEE ITEM                        TIME AND METHOD OF PAYMENT            AMOUNT
--------------------------------------------------------------------------------
Initial acceptance fee          Initial closing of IPO by wire        $1,000
                                transfer
--------------------------------------------------------------------------------
Annual fee                      First year, initial closing of IPO    $3,000
                                by wire transfer; thereafter on the
                                anniversary of the effective date of
                                the IPO by wire transfer or check
--------------------------------------------------------------------------------
Transaction processing fee for  Deduction by Trustee from             $250
disbursements to Company under  accumulated income following
Section 1(j)                    disbursement made to Company under
                                Section 1(j)
--------------------------------------------------------------------------------

                                        9

                                                                       EXHIBIT A

                             [LETTERHEAD OF COMPANY]

                                       [INSERT DATE]

Continental Stock Transfer
 & Trust Company
17 Battery Place
New York, New York 10004
Attn: Steven Nelson

            Re:   Trust Account No. 530-          Termination Letter

Gentlemen:

            Pursuant to paragraph 1(i) of the Investment Management Trust
Agreement between China Opportunity Acquisition Corp. ("Company") and
Continental Stock Transfer & Trust Company ("Trustee"), dated as of __________,
2006 ("Trust Agreement"), this is to advise you that the Company has entered
into an agreement ("Business Agreement") with __________________ ("Target
Business") to consummate a business combination with Target Business ("Business
Combination") on or about [INSERT DATE]. The Company shall notify you at least
48 hours in advance of the actual date of the consummation of the Business
Combination ("Consummation Date").

            In accordance with the terms of the Trust Agreement, we hereby
authorize you to commence liquidation of the Trust Account to the effect that,
on the Consummation Date, all of funds held in the Trust Account will be
immediately available for transfer to the account or accounts that the Company
shall direct on the Consummation Date.

            On the Consummation Date (i) counsel for the Company shall deliver
to you written notification that (a) the Business Combination has been
consummated and (b) the provisions of Section 11-51-302(6) and Rule 51-3.4 of
the Colorado Statute have been met, and (ii) the Company shall deliver to you
(a) [an affidavit] [a certificate] of __________________, which verifies the
vote of the Company's stockholders in connection with the Business Combination
and (b) written instructions with respect to the transfer of the funds held in
the Trust Account ("Instruction Letter"). You are hereby directed and authorized
to transfer the funds held in the Trust Account immediately upon your receipt of
the counsel's letter and the Instruction Letter, in accordance with the terms of
the Instruction Letter. In the event that certain deposits held in the Trust
Account may not be liquidated by the Consummation Date without penalty, you will
notify the Company of the same and the Company shall direct you as to whether
such funds should remain in the Trust Account and distributed after the
Consummation Date to the Company. Upon the distribution of all the funds in the
Trust Account pursuant to the terms hereof, the Trust Agreement shall be
terminated.

            In the event that the Business Combination is not consummated on the
Consummation Date described in the notice thereof and we have not notified you
on or before the original Consummation Date of a new Consummation Date, then the
funds held in the Trust Account shall be reinvested as provided in the Trust
Agreement on the business day immediately following the Consummation Date as set
forth in the notice.

                                Very truly yours,

                                       10

                                        CHINA OPPORTUNITY ACQUISITION CORP.

                                        By:_____________________________________
                                           Harry Edelson, Chairman of the Board

                                        By:_____________________________________
                                           Nick Puro, Secretary

cc: EarlyBirdCapital, Inc.

                                       11

                                                                       EXHIBIT B

                             [LETTERHEAD OF COMPANY]

                                       [INSERT DATE]

Continental Stock Transfer
 & Trust Company
17 Battery Place
New York, New York 10004
Attn:

            Re:   Trust Account No. 530-          Termination Letter

Gentlemen:

            Pursuant to paragraph 1(i) of the Investment Management Trust
Agreement between China Opportunity Acquisition Corp. ("Company") and
Continental Stock Transfer & Trust Company ("Trustee"), dated as of ___________,
2006 ("Trust Agreement"), this is to advise you that the Company has been unable
to effect a Business Combination with a Target Company within the time frame
specified in the Company's Certificate of Incorporation, as described in the
Company's prospectus relating to its IPO.

            In accordance with the terms of the Trust Agreement, we hereby (a)
certify to you that the provisions of Section 11-51-302(6) and Rule 51-3.4 of
the Colorado Statute have been met and (b) authorize you to commence liquidation
of the Trust Account as promptly as practicable to stockholders of record on the
Last Date (as defined in the Trust Agreement). You will notify the Company in
writing as to when all of the funds in the Trust Account will be available for
immediate transfer ("Transfer Date") in accordance with the terms of the Trust
Agreement and the Certificate of Incorporation of the Company. You shall
commence distribution of such funds in accordance with the terms of the Trust
Agreement and the Certificate of Incorporation of the Company and you shall
oversee the distribution of the funds. Upon the distribution of all the funds in
the Trust Account, your obligations under the Trust Agreement shall be
terminated.

                                        Very truly yours,

                                        CHINA OPPORTUNITY ACQUISITION CORP.

                                        By:_____________________________________
                                           Harry Edelson, Chairman of the Board

                                        By:_____________________________________
                                           Nick Puro, Secretary

                                       12

cc: EarlyBirdCapital, Inc.

                                       13

                                                                       EXHIBIT C

                             [LETTERHEAD OF COMPANY]

                                       [INSERT DATE]

Continental Stock Transfer
 & Trust Company
17 Battery Place
New York, New York 10004
Attn:

            Re:   Trust Account No. 530-

Gentlemen:

            Pursuant to paragraph 1(j) of the Investment Management Trust
Agreement between China Opportunity Acquisition Corp. ("Company") and
Continental Stock Transfer & Trust Company ("Trustee"), dated as of ___________,
2006 ("Trust Agreement"), this is to advise you that the Company hereby requests
that you deliver to the Company $_______ of the income earned on the Property as
of the date hereof. The Company needs such funds to cover its expenses relating
to investigating and selecting a target business and other working capital
requirements. In accordance with the terms of the Trust Agreement, you are
hereby directed and authorized to transfer (via wire transfer) such funds
promptly upon your receipt of this letter to the Company's operating account at:

[WIRE INSTRUCTION INFORMATION]

                                        Very truly yours,

                                        CHINA OPPORTUNITY ACQUISITION CORP.

                                        By:_____________________________________
                                           Harry Edelson, Chairman of the Board

                                        By:_____________________________________
                                           Nick Puro, Secretary

cc: EarlyBirdCapital, Inc.

                                       14

                                                                       EXHIBIT D

AUTHORIZED INDIVIDUAL(S)                         AUTHORIZED
FOR TELEPHONE CALL BACK                          TELEPHONE NUMBER(S)

COMPANY:

China Opportunity Acquisition Corp.
354 East 50th Street
New York, New York 10022
Attn: Harry Edelson, Chairman                    (___) ___-____

TRUSTEE:

Continental Stock Transfer
 & Trust Company
17 Battery Place
New York, New York 10004
Attn: Steven G. Nelson, Chairman                 (212) 845-3200

                                       15STOCK ESCROW AGREEMENT

            STOCK ESCROW AGREEMENT, dated as of _____________, 2006
("Agreement"), by and among CHINA OPPORTUNITY ACQUISITION CORP., a Delaware
corporation ("Company"), HARRY EDELSON, BARRY SHERECK, NICK PURO, ROSE-MARIE
FOX, BAILEN ZHENG, DAXI LI and CHINA INVESTMENT GROUP (collectively "Initial
Stockholders") and CONTINENTAL STOCK TRANSFER & TRUST COMPANY, a New York
corporation ("Escrow Agent").

            WHEREAS, the Company has entered into an Underwriting Agreement,
dated __________, 2006 ("Underwriting Agreement"), with EarlyBirdCapital, Inc.
("EBC") acting as representative of the several underwriters (collectively, the
"Underwriters"), pursuant to which, among other matters, the Underwriters have
agreed to purchase 6,000,000 units ("Units") of the Company. Each Unit consists
of one share of the Company's common stock, par value $.0001 per share ("Common
Stock"), and two Warrants, each Warrant to purchase one share of Common Stock,
all as more fully described in the Company's final Prospectus, dated _________,
2006 ("Prospectus") comprising part of the Company's Registration Statement on
Form S-1 (File No. 333-_______) under the Securities Act of 1933, as amended
("Registration Statement"), declared effective on ________, 2006 ("Effective
Date").

            WHEREAS, the Initial Stockholders have agreed as a condition of the
sale of the Units to deposit their shares of Common Stock of the Company, as set
forth opposite their respective names in Exhibit A attached hereto (collectively
"Escrow Shares"), in escrow as hereinafter provided.

            WHEREAS, the Company and the Initial Stockholders desire that the
Escrow Agent accept the Escrow Shares, in escrow, to be held and disbursed as
hereinafter provided.

            IT IS AGREED:

      1.    Appointment of Escrow Agent. The Company and the Initial
Stockholders hereby appoint the Escrow Agent to act in accordance with and
subject to the terms of this Agreement and the Escrow Agent hereby accepts such
appointment and agrees to act in accordance with and subject to such terms.

      2.    Deposit of Escrow Shares. On or before the Effective Date, each of
the Initial Stockholders shall deliver to the Escrow Agent certificates
representing his respective Escrow Shares, to be held and disbursed subject to
the terms and conditions of this Agreement. Each Initial Stockholder
acknowledges that the certificate representing his Escrow Shares is legended to
reflect the deposit of such Escrow Shares under this Agreement.

      3.    Disbursement of the Escrow Shares. The Escrow Agent shall hold the
Escrow Shares until one year after the consummation of a Business Combination
(as defined in the Registration Statement) ("Escrow Period"), on which date it
shall, upon written instructions from each Initial Stockholder, disburse each of
the Initial Stockholder's Escrow Shares (and any applicable stock power) to such
Initial Stockholder; provided, however, that if the Escrow Agent is notified by
the Company pursuant to Section 6.7 hereof that the Company is being liquidated
at any time during the Escrow Period, then the Escrow Agent shall promptly
destroy the certificates representing the Escrow Shares; provided further,
however, that if, after the Company consummates a Business Combination (as such
term is defined in the Registration Statement), it

(or the surviving entity) subsequently consummates a liquidation, merger, stock
exchange or other similar transaction which results in all of the stockholders
of such entity having the right to exchange their shares of Common Stock for
cash, securities or other property, then the Escrow Agent will, upon receipt of
a certificate, executed by the Chief Executive Officer of the Company, in form
reasonably acceptable to the Escrow Agent, that such transaction is then being
consummated, release the Escrow Shares to the Initial Stockholders upon
consummation of the transaction so that they can similarly participate. The
Escrow Agent shall have no further duties hereunder after the disbursement or
destruction of the Escrow Shares in accordance with this Section 3.

      4.    Rights of Initial Stockholders in Escrow Shares.

            4.1   Voting Rights as a Stockholder. Subject to the terms of the
Insider Letter described in Section 4.4 hereof and except as herein provided,
the Initial Stockholders shall retain all of their rights as stockholders of the
Company during the Escrow Period, including, without limitation, the right to
vote such shares.

            4.2   Dividends and Other Distributions in Respect of the Escrow
Shares. During the Escrow Period, all dividends payable in cash with respect to
the Escrow Shares shall be paid to the Initial Stockholders, but all dividends
payable in stock or other non-cash property ("Non-Cash Dividends") shall be
delivered to the Escrow Agent to hold in accordance with the terms hereof. As
used herein, the term "Escrow Shares" shall be deemed to include the Non-Cash
Dividends distributed thereon, if any.

            4.3   Restrictions on Transfer. During the Escrow Period, no sale,
transfer or other disposition may be made of any or all of the Escrow Shares
except (i) by gift to a member of Initial Stockholder's immediate family or to a
trust, the beneficiary of which is an Initial Stockholder or a member of an
Initial Stockholder's immediate family, (ii) by virtue of the laws of descent
and distribution upon death of any Initial Stockholder, or (iii) pursuant to a
qualified domestic relations order; provided, however, that such permissive
transfers may be implemented only upon the respective transferee's written
agreement to be bound by the terms and conditions of this Agreement and of the
Insider Letter signed by the Initial Stockholder transferring the Escrow Shares.
During the Escrow Period, the Initial Stockholders shall not pledge or grant a
security interest in the Escrow Shares or grant a security interest in their
rights under this Agreement.

            4.4   Insider Letters. Each of the Initial Stockholders has executed
a letter agreement with EBC and the Company, dated as indicated on Exhibit A
hereto, and which is filed as an exhibit to the Registration Statement ("Insider
Letter"), respecting the rights and obligations of such Initial Stockholder in
certain events, including but not limited to the liquidation of the Company.

      5.    Concerning the Escrow Agent.

            5.1   Good Faith Reliance. The Escrow Agent shall not be liable for
any action taken or omitted by it in good faith and in the exercise of its own
best judgment, and may rely conclusively and shall be protected in acting upon
any order, notice, demand, certificate, opinion or advice of counsel (including
counsel chosen by the Escrow Agent), statement, instrument, report or other
paper or document (not only as to its due execution and the validity and
effectiveness of its

                                        2

provisions, but also as to the truth and acceptability of any information
therein contained) which is believed by the Escrow Agent to be genuine and to be
signed or presented by the proper person or persons. The Escrow Agent shall not
be bound by any notice or demand, or any waiver, modification, termination or
rescission of this Agreement unless evidenced by a writing delivered to the
Escrow Agent signed by the proper party or parties and, if the duties or rights
of the Escrow Agent are affected, unless it shall have given its prior written
consent thereto.

            5.2   Indemnification. The Escrow Agent shall be indemnified and
held harmless by the Company from and against any expenses, including counsel
fees and disbursements, or loss suffered by the Escrow Agent in connection with
any action, suit or other proceeding involving any claim which in any way,
directly or indirectly, arises out of or relates to this Agreement, the services
of the Escrow Agent hereunder, or the Escrow Shares held by it hereunder, other
than expenses or losses arising from the gross negligence or willful misconduct
of the Escrow Agent. Promptly after the receipt by the Escrow Agent of notice of
any demand or claim or the commencement of any action, suit or proceeding, the
Escrow Agent shall notify the other parties hereto in writing. In the event of
the receipt of such notice, the Escrow Agent, in its sole discretion, may
commence an action in the nature of interpleader in an appropriate court to
determine ownership or disposition of the Escrow Shares or it may deposit the
Escrow Shares with the clerk of any appropriate court or it may retain the
Escrow Shares pending receipt of a final, non-appealable order of a court having
jurisdiction over all of the parties hereto directing to whom and under what
circumstances the Escrow Shares are to be disbursed and delivered. The
provisions of this Section 5.2 shall survive in the event the Escrow Agent
resigns or is discharged pursuant to Sections 5.5 or 5.6 below.

            5.3   Compensation. The Escrow Agent shall be entitled to reasonable
compensation from the Company for all services rendered by it hereunder. The
Escrow Agent shall also be entitled to reimbursement from the Company for all
expenses paid or incurred by it in the administration of its duties hereunder
including, but not limited to, all counsel, advisors' and agents' fees and
disbursements and all taxes or other governmental charges.

            5.4   Further Assurances. From time to time on and after the date
hereof, the Company and the Initial Stockholders shall deliver or cause to be
delivered to the Escrow Agent such further documents and instruments and shall
do or cause to be done such further acts as the Escrow Agent shall reasonably
request to carry out more effectively the provisions and purposes of this
Agreement, to evidence compliance herewith or to assure itself that it is
protected in acting hereunder.

            5.5   Resignation. The Escrow Agent may resign at any time and be
discharged from its duties as escrow agent hereunder by its giving the other
parties hereto written notice and such resignation shall become effective as
hereinafter provided. Such resignation shall become effective at such time that
the Escrow Agent shall turn over to a successor escrow agent appointed by the
Company, the Escrow Shares held hereunder. If no new escrow agent is so
appointed within the 60 day period following the giving of such notice of
resignation, the Escrow Agent may deposit the Escrow Shares with any court it
reasonably deems appropriate.

            5.6   Discharge of Escrow Agent. The Escrow Agent shall resign and
be discharged from its duties as escrow agent hereunder if so requested in
writing at any time by the other parties hereto, jointly, provided, however,
that such resignation shall become effective only upon acceptance of appointment
by a successor escrow agent as provided in Section 5.5.

                                        3

            5.7   Liability. Notwithstanding anything herein to the contrary,
the Escrow Agent shall not be relieved from liability hereunder for its own
gross negligence or its own willful misconduct.

      6.    Miscellaneous.

            6.1   Governing Law. This Agreement shall for all purposes be deemed
to be made under and shall be construed in accordance with the laws of the State
of New York, without giving effect to conflicts of law principles that would
result in the application of the substantive laws of another jurisdiction.

            6.2   Third Party Beneficiaries. Each of the Initial Stockholders
hereby acknowledges that the Underwriters are third party beneficiaries of this
Agreement and this Agreement may not be modified or changed without the prior
written consent of EBC.

            6.3   Entire Agreement. This Agreement contains the entire agreement
of the parties hereto with respect to the subject matter hereof and, except as
expressly provided herein, may not be changed or modified except by an
instrument in writing signed by the party to the charged.

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

            6.5   Binding Effect. This Agreement shall be binding upon and inure
to the benefit of the respective parties hereto and their legal representatives,
successors and assigns.

            6.6   Notices. Any notice or other communication required or which
may be given hereunder shall be in writing and either be delivered personally or
be mailed, certified or registered mail, or by private national courier service,
return receipt requested, postage prepaid, and shall be deemed given when so
delivered personally or, if mailed, two days after the date of mailing, as
follows:

            If to the Company, to:

                  China Opportunity Acquisition Corp.
                  354 East 50th Street
                  New York, New York 10022
                  Attn: Chairman

            If to a Stockholder, to his address set forth in Exhibit A.

            and if to the Escrow Agent, to:

                  Continental Stock Transfer & Trust Company
                  17 Battery Place
                  New York, New York 10004
                  Attn: Chairman

                                        4

            A copy of any notice sent hereunder shall be sent to:

            and:

                  EarlyBirdCapital, Inc.
                  275 Madison Avenue, Suite 1203
                  New York, New York 10016
                  Attn: David M. Nussbaum, Chairman

            and:

                  Graubard Miller
                  The Chrysler Building
                  405 Lexington Avenue
                  New York, New York 10174
                  Attn: David Alan Miller, Esq.

            and:

                  Blank Rome LLP
                  The Chrysler Building
                  405 Lexington Avenue
                  New York, New York 10174
                  Attn: Robert J. Mittman, Esq.

            The parties may change the persons and addresses to which the
notices or other communications are to be sent by giving written notice to any
such change in the manner provided herein for giving notice.

            6.7   Liquidation of the Company. The Company shall give the Escrow
Agent written notification of the liquidation and dissolution of the Company in
the event that the Company fails to consummate a Business Combination within the
time period(s) specified in the Prospectus.

                                        5

            WITNESS the execution of this Agreement as of the date first
above written.

                                             CHINA OPPORTUNITY ACQUISITION CORP.

                                        By:  _______________________________
                                             Name:
                                             Title:

                                             INITIAL STOCKHOLDERS:

                                             _______________________________
                                             Harry Edelson

                                             _______________________________
                                             Barry Shereck

                                             _______________________________
                                             Nick Puro

                                             _______________________________
                                             Rose-Marie Fox

                                             _______________________________
                                             Bailen Zheng

                                             _______________________________
                                             Daxi Li

                                             CHINA INVESTMENT GROUP

                                        By:  _______________________________
                                             Name:
                                             Title:

                                        6

                                        CONTINENTAL STOCK TRANSFER
                                         & TRUST COMPANY

                                        By:________________________________
                                           Name:
                                           Title:

                                        7

                                    EXHIBIT A

Name and Address of                          Number           Stock              Date of
Initial Stockholder                         of Shares   Certificate Number   Insider Letter
-------------------                         ---------   ------------------   ---------------

Harry Edelson                               1,130,000           1            August 15, 2006
China Opportunity Acquisition Corp.
354 East 50th Street
New York, New York 10022

Barry Shereck                                  70,000           2            August 15, 2006
China Opportunity Acquisition Corp.
354 East 50th Street
New York, New York 10022

Nick Puro                                      70,000           3            August 15, 2006
China Opportunity Acquisition Corp.
354 East 50th Street
New York, New York 10022

Rose-Marie Fox                                 70,000           4            August 15, 2006
China Opportunity Acquisition Corp.
354 East 50th Street
New York, New York 10022

Bailen Zheng                                   60,000           5            August 15, 2006

Daxi Li                                        60,000           6            August 15, 2006

China Investment Group                         40,000           7            August 15, 2006

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