Document:

General Management & Business Development Agreement

THIS  AGREEMENT  is made and entered into as of the 21 day in the month of July,
in the year 2004

BETWEEN : -

(A).  GLOBAL ONE  ENTERPRISES  LIMITED,  a public,  limited  liability  company,
      incorporated  under  the Laws of Hong  Kong  (hereinafter  referred  to as
      "Global One" or the "Company") having its registered office at Suite 2001,
      Central Plaza, 18, Harbour Road, Wanchai, Hong Kong; AND

(B).  TECHNOSHIP LIMITED, a company  incorporated in and existing under the Laws
      of Hong Kong and  having its  registered  and  management  offices at 502,
      Abdoolally House, 20, Stanley Street, Central, Hong Kong ("Technoship").

WHEREAS : -

(1).  Technoship is primarily in the business of providing computer software and
      hardware maintenance and repair services,  to businesses and households in
      Hong Kong and is desirous of expanding its business, markets, products and
      services base with a view to increasing its turnover, sales and profits.

(2).  Global One is primarily in the  business of providing  General  Management
      and Business and Product  Development  Services,  both to companies  whose
      equity it partly or wholly owns and to companies whose capital that it has
      no equity interests in.

(3).  Technoship  is desirous of engaging  Global One to assist it in  enhancing
      certain  aspects  of  Technoship's   general   management  and  to  assist
      Technoship in developing its business for its current and new products and
      services.

NOW THEREFORE,  for good and valuable consideration received and to be received,
the receipt and sufficiency of which is hereby acknowledged,  the parties hereto
covenant and agree as follows : -

1.    ENGAGEMENT : Technoship  hereby engages and appoints Global One to provide
      General  Management  and Business  Development  Services to it directly or
      through any of Global One's subsidiary or associate companies on the terms
      and conditions herein set forth.

2.    GENERAL  MANAGEMENT  SERVICES :  Pursuant to this  engagement,  Global One
      shall,  in  consultation  with  Technoship,  provide  to it or  any of its
      subsidiaries  or  associates  either  directly  or through  any of its own
      subsidiary or associate  companies  all or any of the  following  range of
      General  Management   Services  viz.  Strategic   Management   Consulting;
      Marketing & Sales Management;  Human Resource Planning;  Market & Customer
      Research; Product & Process Research and Development; Financial Planning &
      Control;  Product  &  Package  Design;  Inventory  Management;  Purchasing
      Management;    Information   Technology   Management;    Media   Research;
      Advertisement Campaign Planning; Strategic Public & Government Relations.

3.    BUSINESS  DEVELOPMENT  SERVICES : Pursuant to this engagement,  Global One
      shall,  in  consultation  with  Technoship,  provide  to it or  any of its
      subsidiaries  or associates  either directly or through its own subsidiary
      or  associate   companies  or  through   special   purpose  joint  venture
      subsidiaries,  to be established, a range of Business Development Services
      with a view to expanding or developing  new markets and sources of revenue
      for Technoship's business.

                                  Page 1 of 6
<PAGE>

General Management & Business Development Agreement

      Such  Business  Development  services  shall include the  recruitment  and
      training of additional sales and technical  personnel for the provision of
      on and offsite  computer  software  and  hardware  maintenance  and repair
      services,  onsite hardware and software upgrades,  set up and provision of
      broadband internet access, small business website development and hosting,
      computer network  configuration,  small business IT application solutions,
      installation of firewalls and virus protection systems and software, small
      business e-commerce  solutions etc. to a much larger number of individuals
      and business computer users in Hong Kong and China.

4.    TERM OF AGREEMENT : This  Agreement  shall in the first  instance be for a
      term of five (5) years from the date hereof unless terminated earlier.

5.    TERMINATION  OF AGREEMENT : Either party may terminate  this  Agreement by
      giving  to the  other  two full  calendar  months  written  notice of such
      termination.  Notwithstanding  any such  termination  however,  Global One
      shall,  for a term of two  years  from  the  effective  date  of any  such
      termination,  be  entitled  to any fees or  income it may be  entitled  to
      receive in respect of Business  Development  Services it has performed and
      the fees or income for which service was linked to the  procurement  by it
      of sales or other measurable performance criteria.

6.    CONSIDERATION  IN RESPECT OF GENERAL  MANAGEMENT  SERVICES : Consideration
      for the  General  Management  services  to be  provided  shall  consist of
      designated fees to be determined at 20% of the amounts payable pursuant to
      Clause 7 hereof.

7.    CONSIDERATION IN RESPECT OF BUSINESS  DEVELOPMENT SERVICES : Consideration
      for the Business Development Services to be provided shall consist of fees
      to be determined at 60% of gross  profits,  which for the purposes of this
      Agreement  shall be defined as the  difference  between the Invoice  Value
      less Technoship's value added cost.

      For the avoidance of any doubt, in determining the gross profit in respect
      of any particular  product or service referred to in Clause 3 hereof,  all
      product or service  development and order procuring  investments  shall be
      provided by Global One or its designated subsidiary or associate.

8.    RELIANCE UPON  INFORMATION  : The parties  hereby agree that they shall be
      entitled  to  only  rely  upon  written  information  duly  signed  by  an
      authorized  person or persons of one party and  provided to the other from
      time to time.

9.    NON DISCLOSURE : The parties  acknowledges that the information  contained
      in this  Agreement is  confidential  and in addition  that the parties may
      from time to time be privy to  confidential  information  concerning  both
      Global One and  Technoship  and hereby agree and undertake not to disclose
      such  information  to anyone not  directly  involved  or  employed  by the
      parties without the express written permission of the other.

                                  Page 2 of 6
<PAGE>

General Management & Business Development Agreement

10.   WARRANTIES : The parties warrant that as at the date of this Agreement : -

(a)   They have the power to enter into,  exercise  their rights and perform and
      comply with their respective obligations under, this Agreement;

(b)   Their  entry into,  exercise  of their  rights  and/or  performance  of or
      compliance with their respective obligations under this Agreement does not
      and will not violate any law or rule to which they are subject;

(c)   Their respective  obligations under this Agreement are valid,  binding and
      enforceable in accordance with their terms;

(d)   Neither they nor any of their  assets are entitled to immunity  from suit,
      execution,  attachment  or other  legal  process and their entry into this
      Agreement constitutes, and the exercise of their rights and performance of
      and  compliance   with  their   obligations   under  this  Agreement  will
      constitute, private and commercial acts done and performed for private and
      commercial purposes;

(e)   Their  entry into this  Agreement,  the  exercise of their  rights  and/or
      performance of or compliance with their respective  obligations under this
      Agreement  does not and will not (i) violate any  agreement  to which they
      are a party or which is binding on them or their  assets or (ii) result in
      the existence of, or oblige them to create, any security over such assets;
      and

(f)   Each of the above warranties are correct and accurate and complied with in
      all  respects so long as either  party  continues  to have any  obligation
      under this  Agreement as if it were  repeated by reference to the existing
      circumstances.

11.   ASSIGNMENT : This  Agreement  shall  benefit and be binding on the parties
      hereto,  their  respective   successors  and  any  permitted  assignee  or
      transferee of some or all of a party's  rights or  obligations  under this
      Agreement.  Neither Global One nor TECHNOSHIP  shall be entitled to assign
      all or any part of its rights or obligations  under this Agreement  unless
      agreed to by the parties in writing.

12.   GENERAL : (a) Clause headings are inserted for convenience  only and shall
      be ignored in construing this Agreement.

(b)   References to clauses are to a clause of this  Agreement and references to
      sub-clauses  are to a  sub-clause  of the  clause in which  the  reference
      appears.

(c)   Time shall be of the  essence of this  Agreement  but no failure by either
      party to exercise, and no delay on their part in exercising,  any right or
      remedy under this Agreement will operate as a waiver thereof, nor will any
      single or  partial  exercise  of any right or  remedy  preclude  any other
      further exercise thereof or the exercise of any other right or remedy. The
      rights and remedies  provided in this  Agreement  are  cumulative  and not
      exclusive of any rights or remedies provided by law.

(d)   Any  provision  of this  Agreement  may be amended  only if Global One and
      TECHNOSHIP so agree in writing.

                                  Page 3 of 6
<PAGE>

General Management & Business Development Agreement

(e)   Both TECHNOSHIP and Global One undertake to do all such acts and things as
      may be necessary in connection with the  implementation  of this Agreement
      including,  without limitation,  the signing, executing or delivery to the
      parties  all  such  instruments,  forms  and  other  documents  as  may be
      necessary or desirable or  registering  or filing any document  (including
      this Agreement) with any Governmental or other authority.

(f)   The illegality,  invalidity or  unenforceability  of any provision of this
      Agreement  under  the  laws  of any  jurisdiction  shall  not  affect  its
      legality,   validity  or  enforceability  under  the  laws  of  any  other
      jurisdiction  nor the legality,  validity or  enforceability  of any other
      provisions.

(g)   This Agreement  contains the entire  respective  rights and obligations of
      TECHNOSHIP  and Global One and  supersedes  any  previous  expressions  of
      intent or understanding, written or oral, in respect of the transaction(s)
      contemplated in this Agreement.

(h)   The  parties  confirm  that they have  read,  fully  understood  and taken
      appropriate legal and other professional  advice and have not been induced
      to  enter   into  this   Agreement   in   reliance   upon  any   warranty,
      representation,  term,  condition  or  any  other  statement  (written  or
      verbal), made or given by TECHNOSHIP or Global One or any of their agents,
      save as contained in this Agreement.

(i)   All costs and expenses  towards the preparation of this Agreement shall be
      borne solely by Global One.

(j)   All  applicable  warranties,   representations,   undertakings  and  other
      provisions of this  Agreement will not merge or terminate upon the payment
      of any sum by the  parties,  but shall  remain in full force and effect at
      all times thereafter.

(k)   Warranties and undertakings made by the parties pursuant to this Agreement
      will not terminate upon any concession, temporary or permanent, granted by
      one of the parties to the other but shall  remain in full force and effect
      at all times thereafter.

13.   NOTICES : (a) Any notice  required  or  permitted  to be given  under this
      Agreement or in connection with the matters contemplated hereunder,  shall
      be in writing in the English language.  Any such notice shall be addressed
      as provided and it may be : -

      (i)   if delivered by courier and receipt duly acknowledged, in which case
            it will be deemed to have been given upon  delivery at the  relevant
            address;

      (ii)  if within Hong Kong, sent by pre-paid  registered post in which case
            it shall be deemed to have been given three (3) Business  days after
            the date of posting;

      (iii) if from any place  outside  Hong Kong,  sent by pre-paid  registered
            airmail,  in which  case it shall be deemed  to have been  given ten
            (10) Business Days after the date of posting;

                                  Page 4 of 6
<PAGE>

General Management & Business Development Agreement

(b)   The  addresses  and  other  details  of the  parties  referred  to in this
      sub-clause (b) are, subject to sub-clause (c) : -

      NAME :         GLOBAL ONE ENTERPRISES LIMITED

      ATTENTION:     The Company Secretary

      ADDRESS :      Suite 2001, Central Plaza, 18, Harbour Road
                     Hong Kong

      NAME:          TECHNOSHIP LIMITED

      ATTENTION:     Raymond Fung

      ADDRESS:       502, Abdoolally House, 20, Stanley Street, Central,
                     Hong Kong.

(c)   Either party to this  Agreement  may notify the other of any change to the
      address and other details  specified in sub-clause (b), provided that such
      notification  shall only be effective on the date specified in such notice
      or five (5)  Business  Days after the notice is deemed to have been given,
      whichever is later.

14.   GOVERNING LAW : This Agreement  shall be governed by, and construed in all
      respects in  accordance  with the Laws of Hong Kong, S A R. Global One and
      Technoship hereby irrevocably submit to the non exclusive  jurisdiction of
      the Laws of Hong Kong.

15.   DISPUTE  RESOLUTION  : (a) Any  dispute  arising  out of  this  Agreement,
      including  any  question  regarding  its  existence,  scope,  validity  or
      termination or of this clause,  shall be referred to and finally  resolved
      by  Arbitration in Hong Kong in accordance  with the Domestic  Arbitration
      Rules of the Hong Kong International Arbitration Centre ("HKIAC").

(b)   A sole  Arbitrator  shall  hear  any  such  dispute.  He or she  shall  be
      appointed  by the  parties  jointly.  Failing  agreement  as to his or her
      identity within fourteen (14) days after the relevant  dispute has arisen,
      The  claimant  in the  Arbitration  shall  be  entitled  to  instruct  the
      Secretary  General  of the HKIAC to  determine  his or her  identity.  The
      parties  hereby  agree to be bound by such  determination  and  subsequent
      appointment.

(c)   The place of such  arbitration  shall be in Hong Kong and the  proceedings
      shall be conducted and any award given in English.

[SIGNATURE PAGE FOLLOWS]

                                  Page 5 of 6
<PAGE>

IN  WITNESS  whereof  this  Agreement  has been  Signed  by the duly  authorized
representatives of the parties hereto on the day and year first above written.

SIGNED  by the duly Authorized Representative(s)
of  TECHNOSHIP LIMITED

in the presence of : -                                /s/ Fung Chi Kwan
                                                      --------------------------
Name of witness : Au Chun Sai                         Fung Chi Kwan

Address of Witness : 20 Stanley Street, Room 502
                     Abdoollaly House, Central, H.K.  /s/ Wilson Wong Leung Choi
                                                      --------------------------
                                                      Wilson Wong Leung Choi

Signature of witness : /s/ Au Chun Sai
                       ------------------------

SIGNED  by the duly Authorized Representative(s)
of GLOBAL ONE ENTERPRISES LIMITED
in the presence of : -                                /s/ [Illegible]
                                                      --------------------------

Name of witness : Rita Kong

Address of Witness : c/o 2001 Central Plaza, 18       /s/ [Illegible]
                     Harbour Road, Wanchai, Hong Kong --------------------------

Signature : /s/ Rita Kong
            ---------------------------------

                                  Page 6 of 6COMMON STOCK PURCHASE AGREEMENT

THIS COMMON  STOCK  PURCHASE  AGREEMENT  is entered  into as of this 23rd day of
December, 2004 (this "Agreement"),  by and between the seller listed on Schedule
1.1 (the "Seller"), the Purchasers listed on Schedule 1.1 (the "Purchasers") and
Autocarbon, Inc., a Delaware corporation ("ACB" or the "Company") with an office
located at 126 East 83rd Street, Suite 3B, New York, NY 10028.

      WHEREAS,  the Seller owns an aggregate of 31,100,000 shares (the "Shares")
of common stock, par value $.0001 per share of the Company (the "Common Stock");
and

WHEREAS,  the  Purchasers  desire to purchase  from the  Seller,  and the Seller
desires to sell to the  Purchasers,  29,500,000  of the Shares  (the  "Purchased
Shares") upon the terms and conditions set forth in this Agreement.

NOW,  THEREFORE,  in  consideration  of the premises  and the mutual  agreements
contained  in this  Agreement,  the  Purchasers  and the Seller  hereby agree as
follows:

                                    ARTICLE 1
                     SALE AND/OR CANCELLATION OF THE SHARES

Section 1.1 Sale of the Shares. Subject to the terms and conditions set forth in
this Agreement, Seller agrees to sell, transfer and assign to the Purchasers and
the Purchasers agrees to purchase from the Seller the Purchased  Shares,  for an
aggregate purchase price of $175,000 (the "Purchase Price").

Section 1.2  Allocation of the Shares.  The  proportion of the Purchased  Shares
purchased and the Purchase  Price to be paid, by the  Purchasers is set forth on
Schedule 1.1 attached hereto.

Section 1.3 Purchase Price. The Purchase Price shall be payable in two tranches;
(i) an initial payment of TWENTY FIVE THOUSAND  DOLLARS  ($25,000) (the "Initial
Payment"),  previously  paid into escrow (to the Attorney Trust Account of Roger
L. Fidler), and the remaining portion of the Purchase Price of ONE HUNDRED FIFTY
THOUSAND  DOLLARS  ($150,000) shall be paid at closing in good funds (the "Final
Payment") so long as (a) the conditions  precedent set forth in Article 7 hereof
have been  waived or  satisfied  in  accordance  with such  article and (b) this
Agreement has not been terminated pursuant to Article 8 hereof.

                                    ARTICLE 2
                              CLOSING AND DELIVERY

Section 2.1 Closing Date. Upon the terms and subject to the conditions set forth
herein,  the  consummation of the purchase and sale of the Purchased Shares (the
"Closing") shall be held on December 27, 2004 (the "Closing Date").  The Closing
shall take place at the offices of Roger L. Fidler, 400 Grove Street, Glen Rock,
NJ 07452 or by the  exchange of  documents  and  instruments  by mail,  courier,
telecopy  and wire  transfer to the extent  mutually  acceptable  to the parties
hereto.

                                       1
<PAGE>

Section 2.2 Delivery at Closing. At the Closing:

The Seller shall deliver to the Purchasers stock  certificates  representing the
Purchased Shares,  duly endorsed for transfer to the Purchasers,  as applicable,
and accompanied by, (i) if required by the Company's  transfer agent, an opinion
of counsel reasonably acceptable to the Company, the Purchaser and the Company's
transfer  agent and (ii) stock  powers or other  instruments  of  transfer  duly
executed to the Purchasers,  with signature medallion  guaranteed,  and with all
requisite documentary or transfer tax stamps affixed.

                                    ARTICLE 3
            REPRESENTATIONS AND WARRANTIES OF SELLER AND THE COMPANY

Seller and the  Company  jointly  and  severally  represent  and  warrant to the
Purchasers that:

Section 3.1 Existence and Power. ACB is a corporation duly incorporated, validly
existing  and in good  standing  under the laws of the State of Delaware and has
all corporate powers and all  governmental  licenses,  authorizations,  permits,
consents and approvals  required to carry on its business as now conducted.  ACB
is duly qualified or authorized to do business as a foreign  corporation  and is
in good standing under the laws of each  jurisdiction in which it owns or leases
real property and each other  jurisdiction  in which the conduct of its business
or the ownership of its properties requires such qualification or authorization,
except  where the failure to be so qualified  would not have a material  adverse
effect on the  business,  assets or financial  condition  of Company  taken as a
whole  ("Material  Adverse  Effect").   ACB  has  heretofore  delivered  to  the
Purchasers  true and complete  copies of the  Certificate of  Incorporation,  as
amended, and By-laws, each as currently in effect.

Section  3.2  Authorization;   No  Agreements.   The  execution,   delivery  and
performance by Seller of this  Agreement,  the  performance  of its  obligations
hereunder,  and the  consummation of the  transactions  contemplated  hereby are
within  the  Seller's  powers.  Seller has full legal  capacity  to execute  and
deliver this Agreement and perform his obligations hereunder. This Agreement has
been duly and validly executed and delivered by the Seller and is a legal, valid
and binding obligation of the Seller,  enforceable  against Seller in accordance
with its terms.  The execution,  delivery and  performance by the Seller of this
Agreement  does  not  violate  any  contractual  restriction  contained  in  any
agreement  which  binds or affects  or  purports  to bind or affect the  Seller.
Neither the Seller nor the Company is a party to any agreement, written or oral,
creating  rights in respect of any of the Shares on the part of any third  party
or  relating  to the voting of the  Shares.  Seller is the  lawful  owner of the
Shares, free and clear of all security interests, liens, encumbrances,  equities
and other charges.  Seller further  represents that it does not beneficially own
any options or warrants or other rights to purchase  shares of the Common Stock.

                                       2
<PAGE>

There  are no  outstanding  or  authorized  options,  warrants,  rights,  calls,
commitments,  conversion  rights,  rights of exchange or other agreements of any
character, contingent or otherwise, providing for the purchase, issuance or sale
of any of the  Shares,  or any  arrangements  that  require or permit any of the
Shares to be voted by or at the discretion of anyone other than the Seller,  and
there are no restrictions of any kind on the transfer of any of the Shares other
than (a)  restrictions  on transfer  imposed by the  Securities  Act of 1933, as
amended  (the  "Securities  Act") and (b)  restrictions  on transfer  imposed by
applicable state securities or "blue sky" laws.

Section 3.3 Capitalization.

(a) The authorized  capital stock of the Company consists of 100,000,000  shares
of the Common Stock, par value $0.0001 per share, of which 34,156,215 shares are
issued and  outstanding.  All of the issued  and  outstanding  shares of capital
stock of the Company have been duly  authorized and validly issued and are fully
paid and  nonassessable  and were not issued in violation of any  preemptive  or
similar rights. All of the issued and outstanding shares of capital stock of the
Company have been offered, issued and sold by the Company in compliance with all
applicable  federal and state  securities laws. No securities of the Company are
entitled to preemptive or similar  rights,  and no person,  natural or otherwise
("Person"),  has  any  right  of  first  refusal,  preemptive  right,  right  of
participation,   or  any  similar  right  to  participate  in  the  transactions
contemplated hereby. There are no outstanding options,  warrants,  script rights
to subscribe to, calls or commitments of any character  whatsoever  relating to,
or securities,  rights or obligations  convertible into or exchangeable  for, or
giving any  Person  any right to  subscribe  for or  acquire,  any shares of the
Common Stock, or contracts, commitments, understandings or arrangements by which
the  Company is or may  become  bound to issue  additional  shares of the Common
Stock, or securities or rights  convertible or  exchangeable  into shares of the
Common Stock.  The issuance and sale of the Shares will not obligate the Company
to issue shares of the Common  Stock or other  securities  to any Person  (other
than the  Purchaser)  and shall not  result in a right of any  holder of Company
securities  to adjust the  exercise,  conversion,  exchange or reset price under
such securities.

(b) There are no  outstanding  obligations,  contingent or otherwise,  of ACB to
redeem,  purchase  or  otherwise  acquire  or issue any  capital  stock or other
securities of ACB.

(c) There are no shareholder  agreements,  voting trusts or other  agreements or
understandings  to which ACB or Seller is a party or by which either of them are
bound relating to the voting of any shares of the capital stock of ACB.

(e) The Shares,  when delivered in accordance  with the terms of this Agreement,
shall be validly issued,  fully paid and non-assessable and the Shares shall not
be  subject to any lien,  charge,  security  interest  or other  encumbrance  or
preemptive or other similar right.

Section 3.4 Subsidiary. ACB has no subsidiaries.

                                       3
<PAGE>

Section 3.5 Financial Statements.

a) SEC Reports; Financial Statements. The Company has filed all reports required
to be filed by it under the Securities  Act and the  Securities  Exchange Act of
1934, as amended (the "Exchange  Act"),  including  pursuant to Section 13(a) or
15(d) of the Exchange  Act,  since its inception as a public  reporting  company
(the  foregoing  materials  being  collectively  referred  to herein as the "SEC
Reports") on a timely  basis or has  received a valid  extension of such time of
filing and has filed any such SEC Reports  prior to the  expiration  of any such
extension,  except with respect to the Company's late-filed Forms 10-KSB for the
fiscal years  ending  September  30, 2003 and March 31,  2004,  which were filed
April 23, 2004, and July 13, 2004,  respectively;  Form 8-K filed July 13, 2004;
and Form 10-QSB for the quarter ending June 30, 2004,  which was filed September
8, 2004.  The Seller has  identified and made available to the Purchasers a copy
of all  SEC  Reports  filed  within  the 10  days  preceding  the  date  of this
Agreement.  As of  their  respective  dates,  the SEC  Reports  complied  in all
material  respects with the  requirements of the Securities Act and the Exchange
Act and the rules and regulations of the Commission promulgated thereunder,  and
none of the SEC  Reports,  when  filed,  contained  any  untrue  statement  of a
material fact or omitted to state a material fact required to be stated  therein
or  necessary  in  order  to  make  the  statements  therein,  in  light  of the
circumstances  under  which  they  were  made,  not  misleading.  The  financial
statements  of the Company  included in the SEC Reports  comply in all  material
respects with applicable  accounting  requirements and the rules and regulations
of the Commission with respect thereto as in effect at the time of filing.  Such
financial  statements have been prepared in accordance  with generally  accepted
accounting  principles applied on a consistent basis during the periods involved
("GAAP"),  except as may be otherwise specified in such financial  statements or
the notes  thereto,  and fairly  present in all material  respects the financial
position  of the  Company and its  consolidated  subsidiaries  as of and for the
dates thereof and the results of operations  and cash flows for the periods then
ended,  subject,  in the case of unaudited  statements,  to normal,  immaterial,
year-end audit adjustments.

(b) Except as set forth in its Form  10-KSB for the fiscal  year ended March 31,
2004, ACB has not been engaged in any business activity since at least March 31,
2003.

(c) Since the date of the  filing of its  annual  report on Form  10-KSB for the
period  ended  March 31,  2004,  except  as  specifically  disclosed  in the SEC
Reports: (i) there has been no event,  occurrence or development that has had or
that could result in a material  adverse effect on (x) the condition  (financial
or  otherwise),  assets,  liabilities or properties of the Company or (y) on the
timely  consummation of the transactions  contemplated  hereby; (ii) the Company
has not incurred any  liabilities  (contingent  or  otherwise) or amended of any
material term of any outstanding security; (iii) the Company has not altered its
method of accounting  or the identity of its auditors;  (iv) the Company has not
declared or made any dividend or  distribution  of cash or other property to its
stockholders or purchased, redeemed or made any agreements to purchase or redeem
any  shares of its  capital  stock;  (v) the  Company  has not issued any equity
securities to any officer,  director or Affiliate (as defined  below);  (vi) the
Company has not made any loan, advance or capital contributions to or investment
in any  Person;  (vii) the  Company  has not  entered  into any  transaction  or
commitment  made,  or any contract or agreement  entered  into,  relating to its
business or any of its assets  (including the  acquisition or disposition of, or
creation of a lien on, any assets) or any  relinquishment by ACB of any contract
or other right;  (viii) the Company has not granted any severance or termination
pay to any current or former director,  officer or employee of ACB, or increased
the benefits payable under any existing severance or termination pay policies or
employment  agreements or entered into any employment,  deferred compensation or
other similar  agreement (or any amendment to any such existing  agreement) with
any current or former director, officer or employee of ACB; (ix) the Company has

                                       4
<PAGE>

not  established,  adopted or amended (except as required by applicable law) any
collective  bargaining,  bonus,  profit sharing,  thrift,  pension,  retirement,
deferred  compensation,  compensation,  stock option,  restricted stock or other
benefit plan or arrangement covering any current or former director,  officer or
employee of ACB; (x) the Company has not  increased the  compensation,  bonus or
other  benefits  payable or  otherwise  made  available to any current or former
director,  officer or  employee  of ACB;  (xi) the  Company has not made any tax
election or any  settlement or compromise of any tax  liability,  in either case
that is material to ACB or entered  into any  transaction  by the Company not in
the ordinary course of business.

Section 3.6 No Liabilities or Debts. There are no liabilities or debts of ACB of
any  kind  whatsoever,   whether  accrued,  contingent,   absolute,  determined,
determinable or otherwise, and there is no existing condition,  situation or set
of  circumstances  which  could  reasonably  be  expected  to  result  in such a
liability  or  debt.  The  Company  is not a  guarantor  of or  liable  for  any
indebtedness or obligation of any other person, firm or corporation.

Section 3.7 Litigation.  There is no (a) action, suit,  investigation,  audit or
proceeding  pending  against,  or, to the best  knowledge of the Seller and ACB,
threatened or  contemplated  against or  affecting,  ACB or any of its assets or
properties before or by any court or arbitrator or any governmental body, agency
or official or (b) injunction,  outstanding judgment,  restraining order, decree
or other  order of any  nature to which the  Company  is or may be subject or to
which the  business,  assets or  property  of the  Company is or may be subject,
except an action  pending  in the Nassau  County  Supreme  Court  brought by the
Seller and ACB against  attorneys  Neil Kaufman and John Penn,  d/b/a  Kaufman &
Associates,  L.L.C.  for  damages  and the  return  of  certain  documents.  The
defendants have  threatened to  counterclaim  against ACB and Seller for various
violations, including securities law violations, none of which have any merit in
the opinion of counsel. Neither the Company, nor any officer, key employee or 5%
or more stockholder,  including the Seller,  of the Company,  in his, her or its
capacity as such,  is in default  with respect to any order,  writ,  injunction,
decree,  ruling  or  decision  of any  court,  commission,  board  or any  other
government  agency.  The Commission has not issued any stop order or other order
suspending the effectiveness of any registration  statement filed by the Company
under the Exchange Act or the Securities Act.

                                       5
<PAGE>

Section  3.8  Taxes.  (a) ACB has (i) duly  filed  with the  appropriate  taxing
authorities  all tax  returns  required  to be filed by or with  respect  to its
business,  including with respect to the Subsidiary, and all such duly filed tax
returns are true,  correct and complete in all material  respects in relation to
any and all applicable taxes, fees, levies, duties, tariffs,  imposts, and other
charges of any kind (together with any and all interest, penalties, additions to
tax  and  additional  amounts  imposed  with  respect  thereto)  imposed  by any
government  or taxing  authority,  including  taxes or other  charges on or with
respect  to income,  franchises,  windfall  or other  profits,  gross  receipts,
property,  sales,  use,  capital stock,  payroll,  employment,  social security,
workers' compensation,  unemployment compensation,  or net worth; taxes or other
charges in the nature of excise, withholding, ad valorem, stamp, transfer, value
added,  or gains  taxes;  license,  registration  and  documentation  fees;  and
customs' duties,  tariffs,  and similar  charges,  and (ii) paid in full or made
adequate provisions for on its balance sheet (in accordance with GAAP) all taxes
shown to be due on such tax  returns.  There  are no liens  for  taxes  upon the
assets of ACB. ACB has not received any notice of audit,  is not  undergoing any
audit of its tax  returns,  and has not  received  any notice of  deficiency  or
assessment  from any taxing  authority with respect to liability for taxes which
has not been  fully  paid or  finally  settled.  There  have been no  waivers of
statutes of  limitations  by ACB with  respect to any tax  returns.  ACB has not
filed a request  with the  Internal  Revenue  Service for changes in  accounting
methods within the last three years which change would affect the accounting for
tax purposes,  directly or indirectly,  of its business. ACB has not executed an
extension  or  waiver  of  any  statute  of  limitations  on the  assessment  or
collection  of any taxes  due  (excluding  such  statutes  that  relate to years
currently under  examination by the Internal Revenue Service or other applicable
taxing authorities) that is currently in effect.

Section  3.9  Internal  Accounting  Controls;  Sarbanes-Oxley  Act of 2002.  The
Company is in compliance  with the  requirements  of the  Sarbanes-Oxley  Act of
2002. The Company maintains a system of internal  accounting controls sufficient
to provide reasonable assurance that (i) transactions are executed in accordance
with  management's  general or specific  authorizations,  (ii)  transactions are
recorded  as  necessary  to  permit  preparation  of  financial   statements  in
conformity  with GAAP and to  maintain  asset  accountability,  (iii)  access to
assets is permitted  only in accordance  with  management's  general or specific
authorization,  and (iv) the recorded accountability for assets is compared with
the existing assets at reasonable intervals and appropriate action is taken with
respect to any differences.  The Company has established disclosure controls and
procedures  (as defined in Exchange Act Rules  13a-15(e) and  15d-15(e)) for the
Company and designed  such  disclosures  controls and  procedures to ensure that
material  information  relating to the Company,  is made known to the certifying
officers by others  within  those  entities,  particularly  during the period in
which  the  Company's  Form  10-KSB  or  10-QSB,  as the case  may be,  is being
prepared.  The Company's certifying officers have evaluated the effectiveness of
the Company's  controls and procedures as of the date of its most recently filed
periodic report (such date, the "Evaluation Date"). The Company presented in its
most recently filed periodic report the  conclusions of the certifying  officers
about the effectiveness of the disclosure controls and procedures based on their
evaluations as of the Evaluation  Date.  Since the Evaluation  Date,  there have
been no significant  changes in the Company's internal controls (as such term is
defined in Item  307(b) of  Regulation  S-K under the  Exchange  Act) or, to the
Company's  knowledge,  in other  factors  that  could  significantly  affect the
Company's  internal controls.  ACB's auditors,  at all relevant times, have been
duly  registered in good standing with the Public Company  Accounting  Oversight
Board.

                                       6
<PAGE>

Section 3.10  Solvency;  Indebtedness.  Based on the financial  condition of the
Company as of the Closing  Date:  (i) the fair  saleable  value of the Company's
assets  equals or exceeds  the amount  that will be required to be paid on or in
respect of the Company's  existing debts and other liabilities  (including known
contingent  liabilities)  as they  mature;  (ii)  the  Company's  assets  do not
constitute  unreasonably  small capital to carry on its business for the current
fiscal year as now  conducted;  and (iii) the current  cash flow of the Company,
together with the proceeds the Company would  receive,  were it to liquidate all
of its assets, after taking into account all anticipated uses of the cash, would
be  sufficient to pay all amounts on or in respect of its debt when such amounts
are  required to be paid.  The Company does not intend to incur debts beyond its
ability to pay such debts as they  mature.  The Company has no  knowledge of any
facts  or  circumstances  which  lead  it to  believe  that  it  will  file  for
reorganization or liquidation under the bankruptcy or reorganization laws of any
jurisdiction  within one (1) year from the  Closing  Date.  The SEC  Reports set
forth as of the dates thereof all outstanding secured and unsecured indebtedness
of the Company, or for which the Company has commitments.  The Company is not in
default  with  respect to any  Indebtedness.  At the  Closing,  there will be no
outstanding liabilities, obligations or indebtedness of the Company whatsoever.

Section 3.11 No Brokers.  No brokerage or finder's  fees or  commissions  are or
will be payable by the  Company or Seller to any  broker,  financial  advisor or
consultant,  finder,  placement agent,  investment banker,  bank or other person
with respect to the transactions contemplated by this Agreement, and the Company
has not taken any action  that would  cause the  Purchaser  to be liable for any
such fees or commissions.  The Company and Seller agree that the Purchaser shall
have no  obligation  with respect to any fees or with respect to any claims made
by or on behalf of any Person, for fees of the type contemplated by this Section
3.11 and Seller shall indemnify and hold the Purchaser and the Company  harmless
from any fees, costs or liabilities of any kind incurred by the Purchaser or the
Company in connection therewith.

Section 3.12 Disclosure.  The Company and Seller confirm that neither it nor any
other  Person  acting on its behalf has  provided  any of the  Purchaser  or its
agents or counsel with any  information  that  constitutes  or might  constitute
material,  nonpublic information  concerning the Company. The Company and Seller
understand   and  confirm  that  the  Purchaser   will  rely  on  the  foregoing
representations in effecting any transactions in securities of the Company.  All
disclosure provided to the Purchaser regarding the Company, its business and the
transactions  contemplated  hereby,  furnished by or on behalf of the Company or
the Seller with respect to the  representations  and warranties made herein, are
true and correct with respect to such  representations and warranties and do not
contain any untrue  statement  of a material  fact or omit to state any material
fact  necessary in order to make the  statements  made therein,  in light of the
circumstances under which they were made, not misleading. The Company and Seller
acknowledge  and agree that the  Purchaser  has not made,  nor is the  Purchaser
making,  any  representations  or  warranties  with respect to the  transactions
contemplated hereby other than those specifically set forth herein.

                                       7
<PAGE>

Section 3.13 No Disagreements  with Accountants and Lawyers;  No Outstanding SEC
Matters.  There  are  no  disagreements  of  any  kind  presently  existing,  or
reasonably  anticipated  by the Company to arise,  between the  accountants  and
lawyers formerly or presently employed by the Company and the Company is current
with respect to any fees owed to its  accountants  and  lawyers,  except for the
demand  made by Aaron  Stein that the Seller  and the  Company  refuse to pay as
having  not been  earned.  The  Company  has not  received  any  correspondence,
comments  letters,  demands  or  requests  from the SEC or any other  regulatory
authority which have not be fully resolved.

Section 3.14 No  Conflicts.  The  execution,  delivery and  performance  of this
Agreement  and the  transactions  contemplated  hereby do not and will not:  (i)
conflict with or violate any provision of the Company's  Certificate or Articles
of Incorporation,  By-laws or other  organizational or charter  documents;  (ii)
conflict with, or constitute a default (or an event that with notice or lapse of
time or both  would  become a  default)  under,  or give to others any rights of
termination,  amendment,  acceleration or cancellation  (with or without notice,
lapse  of time  or  both)  of any  agreement,  credit  facility,  debt or  other
instrument  (evidencing a Company debt or otherwise) or other  understanding  to
which the Company is a party or by which any property or asset of the Company is
bound or affected; and (iii) result in a violation of any law, rule, regulation,
order,  judgment,  injunction,  decree  or  other  restriction  of any  court or
governmental  authority to which the Company is subject  (including  federal and
state securities laws and regulations), or by which any property or asset of the
Company is bound or affected.

Section 3.15 Filings, Consents and Approvals. Neither the Seller nor the Company
is required to obtain any consent,  waiver,  authorization or order of, give any
notice to, or make any filing or registration  with, any court or other federal,
state, local or other governmental  authority or other Person in connection with
the execution, delivery and performance of this Agreement.

Section  3.16  Compliance.  The  Company:  (i)  is not in  default  under  or in
violation  of (and no event has  occurred  that has not been waived  that,  with
notice  or lapse of time or both,  would  result  in a  default  by the  Company
under),  nor has the  Company  received  notice of a claim that it is in default
under or that it is in violation of, any indenture,  loan or credit agreement or
any other  agreement or  instrument to which it is a party or by which it or any
of its  properties  is bound  (whether or not such default or violation has been
waived),  (ii) is not in  violation  of any order of any  court,  arbitrator  or
governmental body and (iii) is not and has not been in violation of any statute,
rule or regulation of any governmental authority.

      Section  3.17  Transactions  With  Affiliates  and  Employees.  Except  as
required to be set forth in the SEC  Reports,  none of the officers or directors
of the Company and, to the knowledge of the Seller,  no (a) Person that directly
or indirectly,  through one or more intermediaries,  controls, is controlled by,
or is under common  control with the Company (an  "Affiliate")  or (b) director,
officer or employee of the Company is presently a party to any transaction  with
the Company  (other than for services as  employees,  officers  and  directors),
including  any  contract,  agreement  or  other  arrangement  providing  for the
furnishing  of  services  to or by,  providing  for  rental of real or  personal
property to or from,  or  otherwise  requiring  payments to or from any officer,
director or such  employee or, to the  knowledge  of the Company,  any entity in
which any officer,  director, or any such employee has a substantial interest or
is an officer, director, trustee or partner.

                                       8
<PAGE>

Section 3.18 Assets.  Except as set forth in the SEC Reports, the Company has no
assets, including, without limitation, goodwill, assets, real property, tangible
personal  property,  intangible  personal  property,  rights and benefits  under
contracts and cash. All Company  leases,  if any, for real or personal  property
are in good standing,  valid and effective in accordance  with their  respective
terms, and there is not under any of such leases,  any existing material default
or event of default (or event which with notice or lapse of time, or both, would
constitute a material default).

Section 3.19 Investment  Company/Investment Advisor. The business of the Company
does not require it to be  registered  as an  investment  company or  investment
advisor,  as such terms are  defined  under the  Investment  Company Act and the
Investment Advisors Act of 1940.

Section 3.20 Environmental Matters. The Company has complied with all applicable
statutes, laws and regulations relating to the environment.  There is no related
pending or threatened civil or criminal litigation, written notice of violation,
formal  administrative  proceeding  or  investigation,  inquiry  or  information
request by any governmental entity.

Section  3.21  Informed  Decision.  Seller  is aware of the  Company's  business
affairs and financial  condition  and has reached an informed and  knowledgeable
decision to sell the Shares.

Section  3.22 Future  Listing on the OTCBB.  Seller is not aware of any facts or
circumstances  that would  prevent  the Common  Stock  from being  approved  for
listing on the NASD's Over -The-Counter Bulletin Board (the "OTCBB"), other than
the absence of a business.

Section 3.23 Consummation of a Merger  Transaction.  Seller acknowledges that it
is  the  intention  of  the  Purchaser,  upon  completion  of  the  transactions
contemplated  hereby,  to cause  the  Company  to  consummate  a merger  with or
acquisition of a yet unidentified  private  unaffiliated  company (the "Merger")
some time in the future.  Seller further acknowledges that, upon consummation of
the  Merger,  it is likely or possible  that each Share will  increase in value,
possibly substantially. Seller has had such opportunity as it desires to ask the
Purchaser  any  questions  and  receive  information  concerning  such  matters,
including the risks associated therewith,  and has received satisfactory answers
to such  questions  and desires to  complete  the sale of the  Purchased  Shares
contemplated under this Agreement.

                                       9
<PAGE>

Section 3.24 Change of Control. Neither the Company nor the Seller is a party to
an agreement for, nor involved in any discussions, other than those contemplated
herein,  concerning any transaction  that would reasonably be expected to result
in any  "person" or "group" (as such terms are used in Sections  13(d) and 14(d)
of the Exchange Act),  becoming the "beneficial owner" (as defined in Rule 13d-3
under the  Exchange  Act),  directly or  indirectly,  of 5% or more of the total
voting power of the outstanding Common Stock.

Section 3.25 Blue Sky. The Seller and the Company  have  obtained all  necessary
permits and qualifications,  if any, or secured an exception therefor,  required
for the offer and sale of the Purchased Shares.

Section 3.26  Appointment  of  Directors.  The board of directors of the Company
shall immediately following the Closing,  appoint to the board of directors, one
individual who is nominated by the Purchasers.  In addition, Simon Piers Thurlow
shall resign from all positions with the Company,  including as president, chief
financial officer and director, immediately after such appointments.

Section 3.27 Notice of  Developments.  Prior to the Closing,  the Seller and the
Company  shall  promptly  notify  the  Purchasers  in  writing  of  all  events,
circumstances  facts  and  occurrences  arising  subsequent  to the date of this
Agreement  which  would  reasonably  be  expected  to result in any  breach of a
representation  or  warranty  or  covenant  of the Seller or the Company in this
Agreement or which would reasonably be expected to have the effect of making any
representation or warranty of the Seller or the Company in this Agreement untrue
or  incorrect in any respect.  Such  notification  shall not affect or otherwise
limit the  Purchaser's  right to enforce the terms of this  Agreement  hereto as
they existed on the date hereof, without taking into account such notification.

Section 3.28 Bona Fide  Services.  The Seller and Company  confirm that the bona
fide services described in Section 7.1(k) hereof do not include or relate in any
whatsoever to stock promotion or  capital-raising  activity by or concerning the
Seller or the Company.

Section 3.29 Patriot Act. The Seller and the Company  certify  that, to the best
of their  knowledge,  the Company has not been  designated,  and is not owned or
controlled,  by a "suspected terrorist" as defined in Executive Order 13224. The
Seller  hereby  acknowledges  that  the  Purchasers  seek  to  comply  with  all
applicable  laws  concerning  money  laundering  and  related   activities.   In
furtherance  of those  efforts,  the Seller and the  Company  hereby  represent,
warrant  and agree that:  (i) none of the cash or property  owned by the Company
has been or shall be derived  from,  or related to, any activity  that is deemed
criminal  under United  States law; and (ii) no  contribution  or payment by the
Company has, and this Agreement will not, cause the Company or the Purchasers to
be in  violation  of the United  States  Bank  Secrecy  Act,  the United  States
International  Money  Laundering  Control  Act  of  1986  or the  United  States
International  Money Laundering  Abatement and  Anti-Terrorist  Financing Act of
2001.

                                       10
<PAGE>

Section 3.30  Misrepresentation.  No representation or warranty of the Seller or
the Company  contained in this  Agreement  or in any  schedule  hereto or in any
certificate  or other  instrument  furnished  by the  Seller  to the  Purchasers
pursuant to the terms  hereof,  knowingly  contains  any untrue  statement  of a
material fact or knowingly  omits to state a material fact necessary to make the
statements contained herein or therein not misleading.

                                    ARTICLE 4
                        REPRESENTATIONS OF THE PURCHASER

The Purchasers  represent and warrant,  each solely as to itself, to the Seller,
as follows:

Section 4.1 Execution and Delivery.  The execution,  delivery and performance by
the  Purchaser's  execution  and  delivery  of this  Agreement  is  within  such
Purchaser's powers and does not violate any contractual restriction contained in
any  agreement  which  binds  or  affects  or  purports  to bind or  affect  the
Purchasers.

Section 4.2 Binding Effect.  This Agreement,  when executed and delivered by the
Purchasers shall be irrevocable and will constitute the legal, valid and binding
obligations  of each of the  Purchasers  enforceable  against each  Purchaser in
accordance  with its terms,  except as may be limited by applicable  bankruptcy,
insolvency,   moratorium  and  other  laws  of  general  application   affecting
enforcement  of  creditors'  rights  generally or general  principles  of equity
(regardless  of whether such  enforceability  is  considered  in a proceeding in
equity or at law).

Section 4.3 Investment Purpose.  Each Purchaser represents that it is purchasing
the Shares for its own account,  with the intention of holding the Shares,  with
no present  intention  of  dividing or allowing  others to  participate  in this
investment or of reselling or otherwise  participating,  directly or indirectly,
in a  distribution  of the  Shares,  and shall not make any sale,  transfer,  or
pledge thereof without  registration under the Securities Act and any applicable
securities laws of any state unless an exemption from  registration is available
under those laws. The Purchased  Shares delivered to the Purchasers shall bear a
restrictive  legend  indicating  that  they have not been  registered  under the
Securities Act of 1933 and are  "restricted  securities" as that term is defined
in Rule 144 under the Act.

Section 4.4 Investment Representation. The Purchasers each represent that it has
adequate  means of providing for its current needs and has no need for liquidity
in this  investment  in the  Shares.  The  Purchasers  represents  that it is an
"accredited  investor"  as defined in Rule 501(a) of  Regulation  D  promulgated
under the Securities Act. The Purchaser has no reason to anticipate any material
change in its financial  condition for the foreseeable future. Each Purchaser is
financially  able to bear the economic  risk of this  investment,  including the
ability to hold the  Shares  indefinitely  or to afford a  complete  loss of its
investment in the Shares.

                                       11
<PAGE>

Section  4.5  Investment  Experience.  Each  Purchaser  has such  knowledge  and
experience in financial and business  matters as to be capable of evaluating the
merits and risks of an investment in the Shares.

Section 4.6 Opportunity to Ask Questions. Each Purchaser has had a full and fair
opportunity to make inquiries  about the terms and conditions of this Agreement,
to discuss the same and all related matters with its own independent counsel and
its own  accountants  and tax  advisers.  Each  Purchaser  has  been  given  the
opportunity to ask questions of, and receive answers from Seller  concerning the
terms and  conditions of this  Agreement and to obtain such  additional  written
information  about ACB to the extent Seller  possesses  such  information or can
acquire  it  without   unreasonable  effort  or  expense.   Notwithstanding  the
foregoing, each Purchaser has had the opportunity to conduct its own independent
investigation.

                                    ARTICLE 5
                            COVENANTS OF THE COMPANY

Section 5.1 Public Company Status.  The Company shall make any and all necessary
filings under the Exchange Act so that it remains a reporting  company under the
Exchange Act and the Common Stock continues to be a publicly-traded security for
not less than one year after the Closing Date.

                                    ARTICLE 6
                            COVENANTS OF THE PARTIES

The parties hereto agree that:

Section 6.1 Public  Announcements.  The Seller,  the Company and the  Purchasers
shall  consult  with each other before  issuing any press  release or making any
public statement with respect to this Agreement or the transactions contemplated
hereby  and,  except  as  may be  required  by  applicable  statutes,  laws  and
regulations,  including rules and regulations of the Commission,  will not issue
any  such  press  release  or make  any  such  public  statement  prior  to such
consultation and without the consent of the other parties.

Section 6.2 Notices of Certain Events.  In addition to any other notice required
to be given by the terms of this  Agreement,  each of the parties shall promptly
notify the other party hereto of:

(a) any notice or other  communication from any Person alleging that the consent
of such Person is or may be required in connection with any of the  transactions
contemplated by this Agreement;

(b) any notice or other communication from any governmental or regulatory agency
or authority in connection with the transactions contemplated by this Agreement;
and

                                       12
<PAGE>

(c) any actions,  suits, claims,  investigations or proceedings commenced or, to
such  party's  knowledge,  threatened  against,  relating  to  or  involving  or
otherwise  affecting such party that, if pending on the date of this  Agreement,
would have been required to have been disclosed pursuant to Section 3 or Section
4 (as the case may be) or that relate to the  consummation  of the  transactions
contemplated by this Agreement.

Section 6.3 Access to Information.  Following the date of this Agreement,  until
consummation of all transactions contemplated hereby, the Seller and the Company
shall give to the Purchaser, its counsel, financial advisers, auditors and other
authorized representatives reasonable access to their offices, properties, books
and records,  financial and other data and  information as the Purchaser and its
respective representatives may reasonably request.

Section 6.4 ACB's Business.  ACB will not,  without the prior written consent of
the Purchaser,  except as set forth herein,  (i) make any material change in the
type or nature of its business, or in the nature of its operations,  (ii) create
or suffer to exist any debt, other than that currently shown in the SEC Reports,
(iii) issue any capital stock or (iv) enter into any new  agreements of any kind
(other  than  those  contemplated  by  this  Agreement)  or  undertake  any  new
obligations or liabilities.

Section 6.5 Indemnification. Indemnification.

      (a) The  Seller  agrees  to  indemnify  and hold each  Purchaser,  and its
respective directors,  officers, employees,  affiliates,  agents, successors and
assigns  (collectively,  the "Purchaser  Indemnified Parties") harmless from and
against:

            (i) any and all liabilities of the Company of every kind, nature and
description,  absolute or  contingent,  existing as against the Company prior to
and  including  the Closing Date or  thereafter  coming into being or arising by
reason of any state of facts existing,  or any  transaction  entered into, on or
prior to the  Closing  Date,  except to the extent that the same have been fully
provided for in the  Company's  Financial  Statements  or disclosed in the notes
thereto or were incurred in the ordinary course of business;

            (ii) any and all losses,  liabilities,  obligations,  damages, costs
and expenses  based upon,  attributable  to or resulting from the failure of any
representation or warranty of the Seller set forth herein, or any representation
or warranty contained in any certificate delivered by or on behalf of the Seller
pursuant to this  Agreement,  to be true and  correct in all  respects as of the
date made;

            (iii) any and all losses, liabilities,  obligations,  damages, costs
and expenses  based upon,  attributable  to or resulting  from the breach of any
covenant or other agreement on the part of the Seller under this Agreement;

                                       13
<PAGE>

            (iv)  any and all  notices,  actions,  suits,  proceedings,  claims,
demands,  assessments,  judgments,  costs,  penalties  and  expenses,  including
attorneys'  and  other  professionals'  fees  and  disbursements  (collectively,
"Expenses") incident to any and all losses, liabilities,  obligations,  damages,
costs and expenses with respect to which  indemnification  is provided hereunder
(collectively, "Losses").

      (b) The Purchasers each hereby agrees to indemnify and hold the Seller and
his  affiliates,  agents,  successors  and  assigns  (collectively,  the "Seller
Indemnified Parties") harmless from and against:

            (i) any and all Losses based upon, attributable to or resulting from
the  failure of any  representation  or  warranty  of the  Purchasers  set forth
herein, or any representation or warranty contained in any certificate delivered
by or on behalf of the  Purchaser  pursuant  to this  Agreement,  to be true and
correct as of the date made;

            (ii) any and all Losses  based upon,  attributable  to or  resulting
from the breach of any covenant or other  agreement on the part of the Purchaser
under this  Agreement or arising from the  ownership or operation of the Company
from and after the Closing Date; and

            (iii)   any   and   all   Expenses   incident   to  the   foregoing.
Indemnification Procedures.

      In the event that any legal  proceedings  shall be  instituted or that any
claim or demand  ("Claim")  shall be  asserted by any person in respect of which
payment may be sought  hereunder,  the  indemnified  party shall  reasonably and
promptly  cause  written  notice of the  assertion  of any Claim of which it has
knowledge which is covered by this indemnity to be forwarded to the indemnifying
party.  The  indemnifying  party  shall have the right,  at its sole  option and
expense,  to be represented  by counsel of its choice,  which must be reasonably
satisfactory to the indemnified party, and to defend against,  negotiate, settle
or otherwise deal with any Claim which relates to any Losses indemnified against
hereunder. If the indemnifying party elects to defend against, negotiate, settle
or otherwise deal with any Claim which relates to any Losses indemnified against
hereunder,  it shall within five (5) business days (or sooner,  if the nature of
the Claim so requires)  notify the indemnified  party of its intent to do so. If
the  indemnifying  party  elects  not to defend  against,  negotiate,  settle or
otherwise  deal with any Claim which relates to any Losses  indemnified  against
hereunder,  fails to notify  the  indemnified  party of its  election  as herein
provided or contests its obligation to indemnify the indemnified  party for such
Losses  under  this  Agreement,   the  indemnified  party  may  defend  against,
negotiate,  settle or otherwise deal with such Claim. If the  indemnified  party
defends any Claim,  then the indemnifying  party shall reimburse the indemnified
party for the  Expenses  of  defending  such Claim upon  submission  of periodic
bills.  If the  indemnifying  party shall  assume the defense of any Claim,  the
indemnified party may participate,  at his or its own expense, in the defense of

                                       14
<PAGE>

such Claim; provided,  however, that such indemnified party shall be entitled to
participate  in any such  defense  with  separate  counsel at the expense of the
indemnifying party if, (i) so requested by the indemnifying party to participate
or (ii) in the  reasonable  opinion  of  counsel  to the  indemnified  party,  a
conflict or potential  conflict  exists  between the  indemnified  party and the
indemnifying party that would make such separate representation  advisable;  and
provided,  further, that the indemnifying party shall not be required to pay for
more than one such counsel for all  indemnified  parties in connection  with any
Claim. The parties hereto agree to cooperate fully with each other in connection
with the defense, negotiation or settlement of any such Claim.

      After any final  judgment  or award  shall have been  rendered by a court,
arbitration  board or  administrative  agency of competent  jurisdiction and the
expiration of the time in which to appeal therefrom,  or a settlement shall have
been consummated, or the indemnified party and the indemnifying party shall have
arrived at a mutually binding  agreement with respect to a Claim hereunder,  the
indemnified party shall forward to the indemnifying party notice of any sums due
and owing by the  indemnifying  party pursuant to this Agreement with respect to
such matter and the indemnifying  party shall be required to pay all of the sums
so due and  owing to the  indemnified  party  by wire  transfer  of  immediately
available funds within 10 business days after the date of such notice.

      The failure of the indemnified  party to give reasonably  prompt notice of
any Claim shall not release,  waive or otherwise affect the indemnifying party's
obligations  with  respect  thereto  except to the extent that the  indemnifying
party can demonstrate actual loss and prejudice as a result of such failure.

Section 6.6 Reasonable  Efforts.  Each party agrees to use with all due dispatch
its  reasonable  best efforts to take, or cause to be taken,  all actions and to
do, or cause to be done,  all things  necessary or advisable to  consummate  and
make effective as promptly as practicable the transactions  contemplated by this
Agreement  and to  cooperate  with the  other  parties  in  connection  with the
foregoing.  Each  party  further  agrees not to  undertake  any course of action
inconsistent  with the  satisfaction  of the  conditions  to  Closing  set forth
herein,  and to do all such acts and take all such measures as may be reasonable
to comply, and be in compliance, with the representations, warranties, covenants
and agreements contained in this Agreement.

Section 6.7 Cooperation. In the event that any investigation,  inquiry, lawsuit,
administrative  proceeding or any other  proceeding is commenced with respect to
the Company,  the Seller shall fully  cooperate  with and provide all applicable
documents  to, the  Company  and  Purchasers,  immediately  upon  request of the
Company or the Purchasers.

Section 6.8 Board of  Directors.  The Seller shall cause the Company to take all
necessary  action to cause the Board of  Directors,  as of the closing  date, to
appoint Ms.  Lianqin Qu as a director of the Company.  Simon Piers Thurlow shall
resign from all  positions  with the  Company,  including  as  president,  chief
financial officer and director, immediately after the Closing Date.

                                       15
<PAGE>

                                    ARTICLE 7
                              CONDITIONS PRECEDENT

Section 7.1 Conditions of Obligations of the Purchasers.  The obligations of the
Purchasers are subject to the satisfaction of the following  conditions,  any or
all of which may be waived in whole or in part by the Purchasers:

(a) Representations  and Warranties.  Each of the representations and warranties
of the  Seller and the  Company  set forth in this  Agreement  shall be true and
correct in all material respects as of (1) the date of this Agreement (except to
the extent such representations and warranties speak as of an earlier date), and
(2) the Closing Date, as though made on and as of all of such dates.

(b) Compliance Certificate. The Seller and President of ACB shall deliver to the
Purchasers at the Closing a certificate  certifying:  (i) that there has been no
material  adverse  change  in  the  business,  affairs,  prospects,  operations,
properties,  assets  or  conditions  of the  Company  since  the  date  of  this
Agreement;  (ii) that  attached  thereto  is a true and  complete  copy of ACB's
Certificate of  Incorporation,  as amended,  as in effect at the Closing;  (iii)
that attached  thereto is a true and complete copy of its By-laws,  as in effect
at the  Closing;  and (iv) each of the  representations  and  warranties  of the
Seller and the Company set forth in this  Agreement  are true and correct in all
material respects as of the Closing Date as though made on and as of the Closing
Date.

(c) Good Standing Certificates.  The Company shall have furnished the Purchasers
with good standing and existence  certificates  for ACB in its  jurisdiction  of
formation and such other jurisdictions as the Purchaser reasonably requests.

(d)  Certified  List of Record  Holders.  The  Purchasers  shall have received a
certified  list  prior to the  Closing  Date from  ACB's  transfer  agent of the
holders of record of the Common Stock.

(e) Company  Minutes.  The  Purchasers  shall have received prior to the Closing
Date executed  copies of all minutes,  consents and  resolutions  of the Company
(for meetings of or by  stockholders  and directors of the Company),  including,
without  limitation,  those  relating to the  termination  of the Share Exchange
Agreement,  dated  January 3, 2003,  by and between  the Company and  Autocarbon
Limited  relating to the  Company's  previously  planned  purchase of all of the
issued and outstanding  shares of Autocarbon  Limited, a United Kingdom company,
as described in the SEC Reports (the "Transaction"),  and, in form and substance
reasonably satisfactory to the Purchaser.

(f) Board of Directors  Resolutions.  The Purchaser shall have received executed
resolutions  of the  Board  of  Directors  of  ACB  approving  the  transactions
contemplated  herein  including  the  resignation  of all current  directors and
officers.

                                       16
<PAGE>

(g)  Performance.  The Seller and the Company shall have  performed and complied
with all agreements, obligations and conditions contained in this Agreement that
are required to be performed or complied with by it on or before the Closing.

(h) Filing of Reports.  The Company will, for so long as it is required to, make
timely  filing  of such  reports  as are  required  to be  filed  by it with the
Commission.

(i) Counsel Opinion.  An opinion of Roger Fidler,  Esq., counsel to the Company,
sufficient for the Company's  transfer agent to register the Purchased Shares as
being owned of record by the Purchasers.

Section 7.2  Conditions of  Obligations  of the Seller.  The  obligations of the
Seller to effect the sale of the Shares are subject to the following conditions,
any or all of which may be waived in whole or in part by the Seller:

(a) Representations  and Warranties.  Each of the representations and warranties
of the Purchasers  set forth in this Agreement  shall be true and correct in all
material  respects  as of the date of this  Agreement  and (except to the extent
such  representations  and  warranties  speak as of an  earlier  date) as of the
Closing Date as though made on and as of the Closing Date.

(b)  Compliance  Certificate.  An  authorized  officer of the  Purchasers  shall
deliver  to the  Seller at the  Closing  a  certificate  certifying  each of the
representations and warranties of such Purchaser set forth in this Agreement are
true and correct in all material  respects as of the Closing Date as though made
on and as of the Closing Date.

(c)  Performance.  The  Purchasers  shall have  performed  and complied with all
agreements,  obligations  and  conditions  contained in this  Agreement that are
required to be performed or complied with by it or him on or before the Closing.

                                    ARTICLE 8
                                   TERMINATION

Section 8.1  Termination.  This Agreement may be terminated and the purchase and
sale of the Shares may be abandoned at any time prior to the Closing:

(a) by mutual written consent of the parties hereto;

(b) by  either  the  Seller  or the  Purchasers  if the  Closing  shall not have
occurred on or before the Effective  Date (unless the failure to consummate  the
transactions  by such date  shall be due to the  action or failure to act of the
party seeking to terminate this Agreement);

(c) by the  Purchasers  if (i) the Seller or the  Company  shall have  failed to
comply in any material respect with any of the covenants,  conditions,  terms or
agreements  contained in this  Agreement to be complied with or performed by the
Seller or the Company;  or (ii) any  representations and warranties of Seller or
the Company contained in this Agreement shall not have been true when made or on
and as of the Closing  Date as if made on and as of Closing  Date (except to the
extent it relates to a particular date); or

                                       17
<PAGE>

(d) by the  Seller  if (i) the  Purchasers  shall  have  failed to comply in any
material  respect with any of the  covenants,  conditions,  terms or  agreements
contained in this  Agreement to be complied with or performed by it; or (ii) any
representations  and  warranties  of the Purchaser  contained in this  Agreement
shall not have been true when made or on and as of the Closing Date.

Section  8.2  Effect of  Termination.  In the event of the  termination  of this
Agreement  pursuant to this  Article 8, all further  obligations  of the parties
under this Agreement shall forthwith be terminated without any further liability
of any party to the other parties; provided,  however, that nothing contained in
this Section 8.2 shall  relieve any party from  liability for any breach of this
Agreement. In addition, the Initial Payment shall be retained by Seller.

                                    ARTICLE 9
                                  MISCELLANEOUS

Section 9.1 Notices. All notices, requests and other communications to any party
hereunder  shall be in writing and either  delivered  personally,  telecopied or
sent by certified or registered mail, postage prepaid,

If to the Seller: Simon Piers Thurlow
                           Suite 3B, 126 East 83rd Street
                           New York, NY 10028

With a copy to:   Roger L. Fidler, Esq.
                           400 Grove Street
                           Glen Rock, NJ 07452
                           Facsimile: 201-445-8862
                           Rfidler0099@aol.com

If to Purchasers: Dongyuan Investment Consultancy, H.K., Limited
                           16/F, Flat C, MaxShare Centre,
                           367-373, King's Road
                           Northpoint, Hong Kong

With a copy to:   Marc J. Ross, Esq.
                           Sichenzia Ross Friedman Ference LLP
                           1065 Avenue of the Americas
                           21st Floor
                           New York, NY 10018
                           Phone 212-930-9700
                           Fax   212-930-9725
                           mross@srffllp.com

                                       18
<PAGE>

If to the Company:         Autocarbon, Inc.
                           126 East 83rd Street - Suite 3B
                           New York, NY 10028
                           Attn: Simon Piers Thurlow, President
                           Facsimile: 212- 717-4254
                           britishunion@aol.com

or such other address or fax number as such party may hereafter  specify for the
purpose by notice to the other parties  hereto.  All such notices,  requests and
other  communications  shall be deemed received on the date delivered personally
or by overnight  delivery  service or confirmed  facsimile  transmission  or, if
mailed,  five (5) business days after the date of mailing if received prior to 5
p.m.  in the place of  receipt  and such day is a  business  day in the place of
receipt.  Otherwise,  any such notice,  request or communication shall be deemed
not to have been received until the next succeeding business day in the place of
receipt.

Section 9.2 Amendments; No Waivers.

(a) Any provision of this  Agreement with respect to  transactions  contemplated
hereby may be amended or waived if, but only if, such  amendment or waiver is in
writing and is signed, in the case of an amendment,  by the Seller,  the Company
and the  Purchaser;  or in the case of a waiver,  by the party  against whom the
waiver is to be effective.

(b) No failure or delay by any party in exercising any right, power or privilege
hereunder  shall  operate  as a waiver  thereof  nor shall any single or partial
exercise  thereof preclude any other or further exercise thereof or the exercise
of any other right, power or privilege.  The rights and remedies herein provided
shall be cumulative and not exclusive of any rights or remedies provided by law.

Section 9.3 Fees and Expenses.  Each of the Seller and the Purchasers shall bear
all costs and expenses  incurred by them in connection with this Agreement,  and
the  Company  shall  bear  no  expenses  in  connection   with  the  transaction
anticipated hereby.

Section 9.4  Successors and Assigns.  The provisions of this Agreement  shall be
binding upon and inure to the benefit of the parties hereto and their respective
successors  and assigns;  provided,  that the Purchaser  shall have the right to
assign this Agreement to an affiliate of the Purchaser and no other party hereto
may assign,  delegate or  otherwise  transfer  any of its rights or  obligations
under this  Agreement  without the consent of each other party  hereto,  but any
such  transfer  or  assignment  will not relieve  the  appropriate  party of its
obligations hereunder.

                                       19
<PAGE>

Section 9.5 Governing Law. This Agreement  shall be governed by and construed in
accordance with the laws of the State of New York,  without giving effect to the
principles of conflicts of law thereof.

Section 9.6 Jurisdiction.  Any suit, action or proceeding seeking to enforce any
provision of, or based on any matter arising out of or in connection  with, this
Agreement or the transactions  contemplated hereby may be brought in any federal
or state court located in the City of New York,  Borough of Manhattan,  and each
of the parties hereto  consents to the  jurisdiction  of such courts (and of the
appropriate  appellate courts  therefrom) in any such suit, action or proceeding
and irrevocably  waives,  to the fullest extent  permitted by law, any objection
which it may now or hereafter  have to the laying of the venue of any such suit,
action  or  proceeding  in any  such  court or that any  such  suit,  action  or
proceeding  which  is  brought  in  any  such  court  has  been  brought  in  an
inconvenient forum. Process in any such suit, action or proceeding may be served
on any party anywhere in the world,  whether within or without the  jurisdiction
of any such  court.  Without  limiting  the  foregoing,  each party  agrees that
service of process on such party as  provided  in Section  9.1.  shall be deemed
effective  service of process on such party.  Each party hereto  (including  its
affiliates,  agents,  officers,  directors and employees) irrevocably waives, to
the fullest  extent  permitted by applicable  law, any and all right to trial by
jury in any legal proceeding arising out of or relating to this Agreement or the
transactions contemplated hereby.

Section 9.7  Counterparts;  Effectiveness.  This  Agreement may be signed in any
number of counterparts, each of which shall be an original, with the same effect
as if the  signatures  thereto  and hereto were upon the same  instrument.  This
Agreement   shall  become   effective   when  each  party  hereto  has  received
counterparts  hereof  signed by all of the other  parties.  No provision of this
Agreement  is intended to confer upon any Person  other than the parties  hereto
any rights or remedies under this Agreement.

Section 9.8 Entire  Agreement.  This  Agreement  and the  attached  Schedule 1.1
constitute the entire agreement  between the parties with respect to the subject
matter of this  Agreement and  supersedes  and merges all prior  agreements  and
understandings,  both oral and written,  between the parties with respect to the
subject matter of this Agreement.

Section 9.9  Captions.  The captions are included for  convenience  of reference
only  and  shall  be  ignored  in the  construction  or  interpretation  of this
Agreement.

Section 9.10 Severability.  If any term,  provision,  covenant or restriction of
this Agreement is held by a court of competent  jurisdiction  or other authority
to be invalid,  void or unenforceable,  the remainder of the terms,  provisions,
covenants  and  restrictions  of this  Agreement  shall remain in full force and
effect and shall in no way be affected,  impaired or  invalidated so long as the
economic  or legal  substance  of the  transactions  contemplated  hereby is not
affected  in  any  manner  materially  adverse  to  any  parties.  Upon  such  a
determination,  the  parties  shall  negotiate  in good  faith  to  modify  this
Agreement  so as to effect  the  original  intent of the  parties  as closely as
possible in an  acceptable  manner in order that the  transactions  contemplated
hereby  are  consummated  as  originally  contemplated  to  the  fullest  extent
possible.

                                       20
<PAGE>

Section 9.11 Specific  Performance.  The parties  hereto agree that  irreparable
damage  would  occur  in the  event  any  provision  of this  Agreement  was not
performed  in  accordance  with the its  terms  and that  the  parties  shall be
entitled to specific  performance  of the terms of this Agreement in addition to
any other remedy to which they are entitled at law or in equity.

Section 9.12 Survival.  The  representations  and  warranties  contained in this
Agreement  shall  survive the Closing and delivery of the Shares only as against
Seller and  notwithstanding  any  provision  to the  contrary  contained in this
Agreement,  upon and after the Closing,  any claim by Purchaser  for a breach of
any  representation  or  warranty  of Seller or the  Company  contained  in this
Agreement  may be made only  against  Seller and  Purchaser  shall have no claim
against the Company for any such breach.

[REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK]

                                       21
<PAGE>

      IN WITNESS  WHEREOF,  each of the  following  individuals  has caused this
Agreement to be signed, and each party that is not an individual has caused this
Agreement to be duly executed under seal by its respective  authorized officers,
all as of the day and year first above written.

/s/ SIMON PIERS THURLOW
-----------------------------
Simon Piers Thurlow

AUTOCARBON, INC.

By: /s/ SIMON PIERS THURLOW
-----------------------------
Name:  Simon Piers Thurlow
Title: President

DONGYUAN INVESTMENT CONSULTANCY, H.K., LIMITED

By:/s/ LIANQIN QU
-----------------------------
Name:  Lianqin Qu
Title: President

/s/ DONGHAI ZHANG
-----------------------------
Donghai Zhang

/s/MEI DONG
-----------------------------
Mei Dong

/s/LUNBEN CHE
-----------------------------
Lunben Che

/s/BING WANG
-----------------------------
Bing WANG

/s/ KEN WANG
-----------------------------
Ken Wang

/s/ FRED CHANG
-----------------------------
Fred Chang

/s/ LIUYI ZHANG
-----------------------------
Liuyi Zhang

                                       22
<PAGE>

Schedule 1.1
SELLER:                Simon Piers Thurlow
                       126 E. 83rd Street
                       Suite 2F
                       New York, New York  10028
                       Telephone:  (212) 717-4254

                  Proportion of Purchased Shares and Purchase Price

     PURCHASERS:       Dongyuan Investment Consultancy, H.K., Limited 10,246,870
                       16/F, Flat C, MaxShare Centre,
                       367-373, King's Road
                       Northpoint, Hong Kong

                       Donghai Zhang    10,246,860

                       Mei Dong          1,387,520

                       Lunben Che          553,900

                       Bin Huang         2,124,170

                       Ken Wang          2,154,940

                       Fred Chang        1,748,760

                       Liuyi Zhang         836,980

                       Bing Wang           200,000

PAYMENT WIRING INSTRUCTIONS

Commerce Bank
14-03 Saddle River Road
Fair Lawn, New Jersey 07410
(201) 794-1782

Roger L. Fidler Attorney Trust Account
Acc. #3450872001
ABA Routing No. 021200957

                                       23

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00076-of-00352.parquet"}]]