Document:

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                                 EXHIBIT 10.47
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                         LICENSE AND SERVICE AGREEMENT

LICENSE AGREEMENT ("Agreement") made this 15 day of February, 2000, by and
between MyWeb Inc.com., a Nevada corporation ("Licensor") of Block G, Unit
606, Phileo Demansara 1, No. 9 Jalan 16/11, Off Jalan Demansara, 46350
Petaling Jaya, Selangor, Malaysia and MyWeb Americas, Inc. of Rus do Rocio
220, Conjunto 132, Edificio Atrium 1, Vila Olimpia 04552-000, Sao Paulo, Brazil,
a Delaware corporation ("Licensee").

                                    RECITALS

         A.       Licensor has: (i) developed software for internet set-top
                  boxes which permit users to access the Internet via television
                  sets, and (ii) developed and operates internet portals (the
                  "Online Service") in several countries;

         B.       Licensee has been incorporated to develop and offer: (i)
                  television Internet access in North, Central and South
                  America; and (ii) develop and offer country-specific portals
                  for users accessing the Internet via television sets
                  (together, the "Business");

         C.       Licensor desires to have its Licensed Technology (as defined
                  in Section 5.1 below) commercialized in the Territory (as
                  defined in Section 3 below) through the granting of an
                  exclusive license, and Licensee desires to acquire an
                  exclusive license to commercialize and otherwise use the
                  Licensed Technology in the Territory, pursuant to terms and
                  conditions of this Agreement.

NOW THEREFORE, for good and valuable consideration, the receipt and sufficiency
of which is hereby acknowledged, the parties agree as follows:

1.       RECITALS.

         The recitals to this Agreement are true and correct and hereby
incorporated by reference into this Agreement.

2.       TERM.

         This Agreement and the license granted hereby shall, unless terminated
in accordance with the terms of this Agreement, remain and continue in full
force and effect for a period of five years from the date first above written
(the "Term") and upon expiration of the Term, this Agreement and the license
granted hereby shall automatically be renewed for successive three-year terms
(each such new term, a "Renewal Term") unless either party has given to the
other party at least ninety days prior written notice to expire on the end of
the Term or any Renewal Term of their intention not to renew the Agreement.

3.       TERRITORY.

         This Agreement is for South America, Central America, Mexico and the
Caribbean (the "Territory").

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4.       EXCLUSIVE LICENSE IN THE TERRITORY.

4.1      Subject to the payment of consideration as provided in Section 8 below,
Licensor hereby grants to Licensee the [***] exclusive right and license to the
Licensed Technology (as defined below) in the Territory. The exclusive license
granted above shall include, but is not limited to, the right to use, reproduce,
display, perform, transmit, distribute, market and promote the Licensed
Technology within the Territory.

4.2      Licensor also hereby grants to Licensee the exclusive right to
sublicense the Licensed Technology in the Territory to other parties
("Sub-licensees"). The Licensee shall be responsible for all acts and omissions
of each Sub-licensee during the term of that Sub-licensee's sub-license as
though they were by the Licensee. Any sub-licenses that are exclusive shall
become non-exclusive if and when Licensee's right and license to the Licensed
Technology becomes non-exclusive, except to the extent that Licensee may bind
itself to an exclusive relationship with a Sub-licensee to the extent that it
does not bind Licensor to an exclusive relationship when Licensee's right and
license to the Licensed Technology is non-exclusive.

5.       LICENSED TECHNOLOGY.

5.1      For purposes of this Agreement, the Licensed Technology shall mean:

         (i)      all software offered or sold by Licensor during the Term, or
         any Renewal Term (including its "Thunder" and "ThunderServe" software
         and the other software listed in Annex A hereto) in object format,
         including all modifications, improvements, enhancements, additions,
         derivative works, updates, releases and versions thereof (collectively,
         the "Software");

         (ii)     Licensor's copyright and any other intellectual property
         rights related to its Online Service and the Software;

         (iii)    Licensor's mark "MyWeb" and any other marks (including the
         marks listed in Annex B hereto) used in Licensor's business and/or in
         respect of the Software or the Licensor's Online Service (collectively,
         the "Marks");

         (iv)     all copyrights, patent rights, trade secret rights, trademark
         rights, mask works rights and all other intellectual property in,
         incorporated or embodied in, used to develop, or related to any of the
         foregoing, including but not limited to any documentation, manuals,
         marketing and promotional materials (collectively "Intellectual
         Property"); and

         (v)      any documentation related to the foregoing.

5.2      Licensee acknowledges that title to and ownership of the Licensed
Technology shall at all times remain with Licensor. Licensee further agrees not,
during the Term, any Renewal Term or at any time after the expiry or
termination of this Agreement, to decompile or reverse engineer any of the
Software (as defined above) included in the Licensed Technology.

[***] Portions of this page have been omitted pursuant to a request for
      Confidential Treatment and filed separately with the Commission.
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6.       INTELLECTUAL PROPERTY

6.1      The Licensee shall not use (other than in relation to this Agreement)
or seek to register outside the Territory without the written consent of the
Licensor as a trade mark or domain name, "MyWeb" or any other mark which is
identical to or confusingly similar with or incorporates any trade mark or trade
name in which the Licensor claims rights anywhere in the world.

6.2      Licensee acknowledges that (i) the Intellectual Property including
any goodwill associated therewith is owned solely and exclusively by Licensor
(or its respective licensors) whether or not specifically recognised or
perfected under the laws of the Territory; (ii) nothing contained under this
Agreement shall give to Licensee or Sub-licensee(s) any right title or interest
in the Intellectual Property other than that granted under this Agreement,
(iii) to the extent that new inventions, designs, processes, modifications, or
improvements are made to the Licensed Technology by Licensor, they are subject
to the terms of this Agreement, shall be promptly provided to Licensee
hereunder and title shall remain with Licensor. The parties acknowledge that,
to the extent that new inventions, designs, processes, modifications, or
improvements are made to the Licensed Technology by the Licensee, title shall
belong to Licensee and a royalty-free non-exclusive license shall be given to
Licensor outside the Territory.

7.       CONFIDENTIALITY

7.1      The Licensee agrees to maintain in strict confidence any confidential
information of the Licensor including but not limited to the Licensed
Technology, obtained pursuant to this Agreement and prior to and in
contemplation of it and all other information that it may acquire from the
Licensor in the course of this Agreement, to respect the Licensor's (or its
respective licensors') proprietary rights therein, to use the same exclusively
for the purposes of this Agreement, and to disclose the same only to those of
its employees and Sub-licensees pursuant to this Agreement (if any) to whom and
to the extent that such disclosure is contemplated by this Agreement.

7.2      The foregoing obligations of Section 7.1 above shall not apply to
information which:

         (i)      prior to receipt thereof from the Licensor was in the
                  possession of the Licensee and at its free disposal;

         (ii)     is subsequently disclosed to the Licensee without any
                  obligation of confidence by a third party who has not derived
                  it directly or indirectly from the other;

         (iii)    is or becomes generally available to the public through no
                  act or default of the Licensee or its agents or employees.

7.3      The Licensee shall procure that all its employees and Sub-licensees
         pursuant to this Agreement (if any) who have access to any information
         of the other to which the obligations of this Section 7 apply shall be
         made aware of and subject to these obligations.

8.       CONSIDERATION.
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         Licensee shall issue to Licensor 3,405,405 shares ("Shares") of
Licensee's common stock, par value $.001 per share, which Shares shall represent
40% of the presently issued and outstanding capital stock of the Licensee,
prior to any financing, including, without limitation, the financing
contemplated by the Capital Increase Agreement, dated December 22, 1999, as
amended, between Licensee and Southern Cross Latin American Private Equity
Fund, L.P. The Shares shall be issued to Licensor no later than February 18,
2000, and in connection with and as a requirement of such issuance, the parties
hereto and the other shareholders of Licensee shall enter into the shareholders'
agreement contemplated by the Capital Increase Agreement. If the Shares are not
so issued by February 18, 2000, Licensor may terminate this Agreement upon
written notice to Licensee, provided that such notice is received by the
Licensee prior to February 29, 2000. The Shares shall be the only consideration
required of the Licensee with respect to the subject matter of this Agreement.

9.       SERVICES.

9.1      Licensor shall provide the necessary technical support to Licensee in
order to successfully develop and launch the Business in the Territory. Without
limiting the generality of the foregoing, Licensor shall provide the following
services at no additional cost to Licensee:

         (i)      translate and fully adapt the Software to Spanish and
                  Portuguese by no later than February 29, 2000;

         (ii)     assist the Company to develop and launch a portal that is
                  substantially the same as the Online Service in each of the
                  countries in which Licensee operates or may operate in the
                  Territory, including, without limitation, providing the
                  Licensee with the site map, content, features, graphic user
                  interface, back-end applications and other components of
                  Licensor's Online Service;

         (iii)    provide two dedicated engineers familiar with the Licensed
                  Technology for a minimum period of 6 months from the date of
                  this Agreement to support and provide in-person assistance to
                  the Licensee at Licensee's principal place of business in Sao
                  Paolo, Brazil, including assistance with all aspects of the
                  Software and the development and launch by the Licensee of
                  the online services; and

         (iv)     promptly provide Licensee with all upgrades and enhancements
                  to the Software.

         All Licensor personnel involved in providing services to Licensor
hereunder (including the two dedicated engineers) shall sign a confidentiality
agreement offering at least the same level of protection of Licensee's
confidential information as Section 7 above provides Licensor's confidential
information.

9.2      The parties acknowledge that the Licensor shall not be responsible for
providing first-line support to Sub-licensees and End Users. Without limiting
the generality of the foregoing, it is acknowledge that Licensor shall not have
any obligation with respect to the following:

         (i)      establishing a help desk for Sub-licensees and End Users;
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         (ii)     creating and maintaining a localised web site to provide help
                  and other useful information;

         (iii)    creating and distributing localised user documentation
                  and manuals; and

         (iv)     distributing to Sub-licensees and End Users all upgrades and
                  enhancements to the Software received by the Licensee during
                  the term of this Agreement.

10.  LICENSOR'S REPRESENTATIONS.

         The Licensor represents that:

         (i)      Licensor is the exclusive owner of all rights, title and
                  interest in the Licensed Technology;

         (ii)     Licensor has not assigned, transferred, licensed, pledged or
                  otherwise encumbered any Licensed Technology in the Territory;

         (iii)    Licensor has full power and authority to enter into this
                  Agreement; and

         (iv)     to the best of Licensor's knowledge, the Licensed Technology
                  does not violate, infringe, or misappropriate any third
                  party's rights.

11.      WARRANTY.

11.1     Licensor warrants to Licensee that when delivered, the Software shall
perform substantially in accordance with its specification and accompanying
documentation. This warranty shall apply for a period of [***] from the date of
delivery ("Warranty Period"). In the event of any breach of this warranty during
the Warranty Period, Licensor shall, at its own cost and expense, as Licensee's
sole and exclusive remedy, use its best efforts to correct any problem(s)
specifically identified by the Licensee or at its option replace the defective
Software. The Licensor's warranty as provided above shall only apply provided
that (i) the Software has been used at all times properly and in accordance with
instructions of use; (ii) no alteration, modification or addition has been made
to the Software by the Licensee.

11.2     EXCEPT AS EXPRESSLY PROVIDED IN SECTION 11.1 ABOVE, THERE ARE NO
TERMS, CONDITIONS, REPRESENTATIONS, WARRANTIES, EXPRESS OR IMPLIED, INCLUDING,
BUT NOT LIMITED TO, ANY CONDITIONS OR WARRANTIES OF MERCHANTABILITY OR FITNESS
FOR PARTICULAR PURPOSE.

12.      INDEMNIFICATION.

12.1     Licensor hereby indemnifies Licensee and any Sub-licensee thereof
against any claim, demand or action related to any breach of this Agreement by
Licensor, and/or any allegation that any of Licensed Technology furnished under
this Agreement infringes any patent, copyright, trademark, moral right, trade
secret or other proprietary right.

[***]    Portions of this page have been omitted pursuant to a request for
         Confidential Treatment and filed separately with the Commission.
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12.2     The Licensee undertakes that the Licensor shall be given prompt notice
         of any claim specified in 12.1 above that is made against the Licensee
         and the Licensor shall have the right to defend any such claims and
         make settlements thereof at its own discretion and the Licensee shall
         give such assistance as the Licensor may reasonably require to settle
         or oppose any such claims.

12.3     In addition to indemnifying the Licensee as provided above, in the
         event that any such infringement occurs or may occur, the Licensor may
         at its expense and in consultation with Licensee:

         (i)      procure for the Licensee the right to continue using the
                  Software or infringing part thereof;

         (ii)     modify or amend the Software or infringing part thereof so
                  that the same becomes non-infringing;

         (iii)    replace the Software or infringing part thereof by other
                  software of substantially similar capability; or

         (iv)     return the Shares to the Licensee.

12.4     Licensee hereby indemnifies Licensor against any claim, demand or
action arising out of any breach of this Agreement by Licensee.

13.      RIGHT OF FIRST REFUSAL AND MOST FAVORED NATIONS.

         If Licensor offers the right to license the Licensed Technology to a
person in any of the following states: Arizona, Florida, New Mexico, California,
Texas or New York, then Licensor shall, prior to the making of such an offer,
notify the Licensee in writing of the terms and conditions of such offer and
then offer to Licensee the opportunity to accept such offer according to
comparable terms and conditions. Additionally, if Licensor has agreed to license
or agrees to license the Licensed Technology, directly or indirectly, pursuant
to any agreement, understanding or arrangement (including orally) to any third
party located anywhere in the world under any term, provision or condition which
is more favorable to such third party than those set forth in this Agreement,
Licensor shall give written notice thereof to Licensee and, at Licensee's
election, this Agreement shall be deemed to have been modified so that Licensee
shall receive such more favorable provision (retroactive to the date first
provided to the third party).

14.      SOURCE CODE ESCROW ACCOUNT.

         All Source Code associated with the Licensed Technology shall be kept
in escrow and updated on a regular basis, and will be updated and released to
Licensee in the event of one of the following:

         (i)      liquidation of Licensor;

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         (ii)     filing of insolvency or bankruptcy by Licensor which is not
                  dismissed within ninety (90) days;

         (iii)    appointment of a trustee or receiver for Licensor which is
                  not dismissed within ninety (90) days; or

         (iv)     Licensor's material breach resulting in termination.

15.      TERMINATION

         Either party may terminate this Agreement if the other party:

         (i)      is in breach of any material term, condition or provision of
                  this Agreement or required by the applicable law and fails to
                  remedy such breach (if capable of remedy) within 30 days of
                  having received written notice of such breach from the party
                  wishing to terminate; or

         (ii)     shall commence a voluntary case concerning itself under Title
                  11 of the United States Code entitled "Bankruptcy" as now or
                  hereafter in effect or any successor thereto (the "Bankruptcy
                  Code"); or an involuntary case is commenced against the other
                  party and the petition is not controverted within ten (10)
                  days or is not dismissed within sixty (60) days, after the
                  commencement of the case; or a custodian (as defined in the
                  Bankruptcy Code) is appointed for, or takes charge of, all or
                  substantially all of the property of the other party or the
                  other party commences any other proceeding under any
                  reorganization, arrangement, adjustment of debt, relief of
                  debtors, dissolution, insolvency or liquidation or similar
                  law of any jurisdiction whether now or hereafter in effect
                  relating to the other party or there is commenced against the
                  other party any such proceeding which remains undismissed for
                  a period of sixty (60) days, or the other party is
                  adjudicated insolvent or bankrupt; or any relief of any order
                  approving any such case or proceeding is entered; or the
                  other party suffers the appointment of any custodian or the
                  like for it or any substantial part of its property to
                  continue undischarged or unstayed for a period of sixty (60)
                  days; or the other party makes a general assignment for the
                  benefit of creditors, or any corporate action is taken by the
                  other party for the purpose of effecting any of the foregoing.
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16.      CONSEQUENCES OF TERMINATION.

         Neither party may terminate this Agreement before the end of the Term
or, in the event of a renewal pursuant with the term hereof, before the end of a
Renewal Term, except as provided under Section 15 hereof. In the event of
termination due to material breach by the Licensor, the exclusive right and
license to the Licensed Technology (including updates) in the Territory shall
remain in force until the end of the Term, and then become a perpetual
royalty-free, fully paid, nonexclusive right and license. Otherwise, upon
expiration of the Term or other termination of this Agreement, the exclusive
right and license to the Licensed Technology in the Territory shall become a
perpetual royalty-free, fully paid, nonexclusive right and license to the
Licensed Technology (including updates) in the Territory. Licensor shall, upon
termination of this Agreement, provide Licensee with any material, including
source code, documentation, software, and instructions, necessary for Licensee
to continue the Business.

17.      MISCELLANEOUS.

17.1     Assignment

         This Agreement shall not be assignable or transferable by a party
hereto (other than to an affiliate of such party) without the prior written
consent of the other party and any attempt to do so shall be void.

17.2     Force Majeure

         For the purpose of this Agreement, "Force Majeure" shall mean any event
which is beyond the control of the parties and which is unforeseen, or if
foreseen, unavoidable, and which prevents total or partial performance by a
party. Such event shall include but are not limited to any strikes, lock-outs or
other industrial action; civil commotion, riot, invasion, war threat or
preparation for war, fire, explosion, storm, flood, earthquake, subsidence,
epidemic or other nature physical disaster; impossibility of the use of
railways, shipping, aircraft, motor transport or other means of public or
private transport; political interference with the normal operations of any
party; and any other events that are accepted as force majeure in general
international commercial practice. If an event of Force Majeure occurs, to the
extent that the commercial obligations of the parties to this Agreement cannot
be performed as a result of such event, performance of such contractual
obligations shall be suspended during the period of delay caused by the Force
Majeure and shall automatically be extended, without penalty and without
constituting a breach of contract, for a period equal to such suspension. The
party claiming Force Majeure shall promptly inform the other party in writing
and shall furnish within 10 days thereafter sufficient evidence of the
occurrence and duration of such Force Majeure. The party claiming Force Majeure
shall also use all reasonable endeavours to terminate the Force Majeure. In the
event of Force Majeure, the parties shall immediately consult with each other in
order to find an equitable solution and shall use all reasonable endeavours to
minimise the consequences of such Force Majeure.
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17.3     Notice

         All notices, reports, approvals, consents or other communications
required, desired or permitted to be given under this Agreement shall be in
writing and shall be deemed "given" (a) upon personal delivery to the party to
be notified, (b) upon deposit with the official governmental postal service, and
addressed to the recipient at the address set forth below, postage prepaid,
return receipt requested, or (c) upon transmission via facsimile to the
recipient at the facsimile number set forth below during the business hours at
the location of the recipient, subject to a confirmed answerback at the end of
the transmission and dispatch. Any notice given in any other manner shall be
deemed "given" only when actually received.

         Licensor:

                           Attn:

                           Facsimile No.:

         Licensee:

                           Attn: Fernando Mendez

                           Facsimile No.: 55-11-8280295

17.4     Waivers

         No failure to exercise, and no delay in exercising, on the part of
either party, any privilege, power or right hereunder will operate as a waiver
thereof. No single or partial exercise of any right or power hereunder will
preclude further exercise of any other right or power hereunder. Any waivers
shall be effective only if made in writing and signed by a representative of the
respective parties authorized to bind the parties.

17.5     Amendment

         This Agreement cannot be changed or terminated orally. Any amendments
shall be effective only if made in writing and signed by a representative of the
respective parties authorized to bind the parties.

17.6     Enforceability

         If any provision of this Agreement shall be adjudged by any court of
competent jurisdiction to be uneforceable or invalid, that provision shall be
limited or eliminated to the minimum extent necessary so that this Agreement
shall otherwise remain in full force and effect and enforceable.
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17.7     Governing Law

         This Agreement shall be deemed to have been made in, and shall be
governed and construed in accordance with the domestic laws of the State of New
York, without giving effect to any choice of law or conflicting provision or
rule that would cause the laws of any jurisdiction other than the State of New
York to be applied. In furtherance of the foregoing, the internal law of the
State of New York will control the interpretation and construction of this
Agreement, even if under such jurisdiction's choice of law or conflict of law
analysis, the substantive law of some other jurisdiction would ordinarily apply.

17.8     Entire Agreement

         Both parties agree that this Agreement is the complete and exclusive
statement of the mutual understanding of the parties and supersedes and cancels
all previous written and oral agreements and communications relating to the
subject matter of this Agreement, including but not limited to that certain
letter agreement, dated November 1, 1999 between the parties.

17.9     Arbitration/Forum

         In the event of any dispute, claim, question, or disagreement arising
from or relating to this agreement or the breach thereof, the parties hereto
shall use their best efforts to settle the dispute, claim, question, or
disagreement. To this effect, they shall consult and negotiate with each other
and, recognizing their mutual interests, attempt to reach a final solution
satisfactory to both parties. If they do not reach such solution within a period
of 60 days, then, upon notice by either party to the other any dispute,
controversy or claim arising out of or relating to this Agreement or to a breach
hereof, including its interpretation, performance or termination, shall be
finally resolved by arbitration. The arbitration shall be conducted by one (1)
arbitrator appointed jointly by Licensor and Licensee or, if they cannot agree,
by the President of the American Arbitration Association ("AAA"). The
arbitration shall be conducted in English in accordance with the commercial
arbitration rules of the AAA. The arbitration, including the rendering of the
award, shall take place in New York, New York and shall be the exclusive forum
for resolving such dispute, controversy or claim. The decision of the arbitrator
shall be final and binding upon the parties hereto, and the expense of the
arbitration (including without limitation the award of reasonable attorney's
fees to the prevailing party) shall be allocated as determined by the
arbitrator. The decision of the arbitrator may be entered by any court of
competent jurisdiction.

17.10    Consent

         Without limiting the rights granted hereunder, Licensor irrevocably
consents to Licensee's perpetual use of the MyWeb name for its business,
wherever located, including the use of such name in connection with listing
securities on any securities exchange, over-the-counter market or the like.
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         IN WITNESS WHEREOF, the parties have caused this Agreement to be
executed as of the date first above written.

SIGNED by              )   /s/
for and on behalf of   )  ----------------------------
MyWeb Americas, Inc.   )   /s/
in the presence of:-   )  ----------------------------
                       )   /s/
                       )  ----------------------------
                       )   /s/
                       )  ----------------------------
                       )   /s/
                       )  ----------------------------

SIGNED by              )   /s/
for and on behalf of   )  ----------------------------
MyWeb Inc.com          )   /s/
in the presence of:-   )  ----------------------------
                       )<PAGE>   1

                                 EXHIBIT 10.50
<PAGE>   2
LOAN AGREEMENT

BORROWER - MYWEB NETWORK SYSTEMS (BEIJING) CO. LTD
LENDER -   CHINA CONSTRUCTION BANK BEIJING BRANCH QIANMEN SUB-BRANCH

The Lender has agreed to approve the loan application from the Borrower upon the
completion of the audit/review of the Borrower's turnover. Both parties hereby
agree to the terms and conditions listed below:-

1.       LOAN AMOUNT - RMB3,000,000

2.       PURPOSE OF THE LOAN - for working capital purposes

3.       TERM/DURATION OF THE LOAN - 19/1/2000 until 13/1/2001

4.       INTEREST RATE - 0.53625 % per month, the interest will be paid to bank
         every season. Interest will be computed from the date the loan was
         transferred to the Borrower's account. If there are changes to the
         official interest rate on the contract date, all necessary interest
         rate changes must made to the contract interest rate by the People's
         Bank of China. (i.e. If the official governmental interest rate
         changes, the contract's interest rate will also be changed)

5.       USAGE PROPOSAL - RMB 3,000,000 will be fully released by the Lender on
         January 2000

6.       PAYBACK PROPOSAL - RMB 3,000,000 will be fully repaid on January 2001
         If the Borrower intends to repay the loan earlier, the Borrower must
         get prior approval from China Construction Bank 10 working days before
         the intended date of repayment.

7.       INTEREST PAYING OPTION - Borrower must guarantee to pay interest on the
         loan on time. Interest will be debited to the Borrower's bank account
         (Account Number 2610016131) every season. If the Borrower default in
         the interest payments, China Construction Bank has the authority to
         debit the money from other accounts belonging to Borrower or cease the
         release of the loan.

8.       DEDUCTION OPTION - The Borrower must pay the loan on time according to
         the payback proposal (stated in term No 6). If the Borrower defaults in
         the payments, the Lender has the authority to instruct other parties
         (other bank accounts of MyWeb Network System (Beijing) Corp, Ltd.) to
         debit money for paying interest and other necessary expenses.

9.       AMENDMENTS TO THE AGREEMENT -

         (1)      No amendments are allowed once the agreement is signed by both
                  parties

         (2)      If the Borrower delays in the payment of the loan under
                  special and acceptable circumstances, the Borrower is allowed
                  to extend their payback period. However, the Borrower must
                  obtain necessary approval from the China Construction Bank 30
                  working days in advance prior to the payback maturity date.

         (3)      If the Borrower intends to assign the loan to a third party,
                  the Borrower shall prepare the necessary documents one (1)
                  month in advance and obtain approval from the Lender. This
                  document can only be legally valid when both parties have
                  signed the documents.

<PAGE>   3

         (4)      If either of the parties above are involve in any merger,
                  de-merger or takeover process, the controlling party of the
                  original Lender/Borrower will assume the authority and
                  responsibility of the original Lender or the Borrower after
                  the matter occurs.

10.      LOAN GUARANTEE
         The principal and interest of this agreement is guaranteed by the
         mortgage property provided by the borrower. The signed mortgage
         contract will be a co-contract of this loan agreement.

11.      If the Borrower is involve in any legal processes such as a merger,
         de-merger or takeover, that will subsequently affect the whole
         operation of the Company, a permission document shall be submitted to
         the lender 90 days in advance. Any amendments to the agreement can only
         be made with the approval of the Lender.

12.      ROLES AND RESPONSIBILITIES OF THE TWO PARTIES
         (1)      The Borrower has the right to instruct the Lender to release
                  the loan according to this loan agreement.
         (2)      The Borrower shall repay the loan according to payback
                  proposal above.
         (3)      The Borrower must utilize the loan for the purpose stated
                  above.
         (4)      The Borrower shall provide monthly financial proposals to the
                  Lender.
         (5)      The Lender has the authority to investigate the utilization of
                  the Borrower's loan.
         (6)      The Lender has the authority to monitor the Borrower's
                  business situation.
         (7)      The Lender should release their loan to Borrower on time.

13.      BREACH OF CONTRACT
         (1)      If the loan was utilized for purposes other than that as
                  stated above, the Lender has the authority to charge 0.05% per
                  day on the portion of the loan which is used for the other
                  purposes.
         (2)      If the Borrower defaults in payment, the Lender has the
                  authority to charge 0.021 % per day on this overdue amount. If
                  the Borrower attempts to transfer the sum of money to another
                  bank account in order to avoid repayment of the loan, the
                  Lender has the authority to collect the money from the other
                  Bank and charge the Lender 0.021% per day.
         (3)      If the Borrower breaches Clause No. 11, where he/she tries to
                  make unnecessary changes that will affect the operation of the
                  whole Company, the Lender has the authority to terminate the
                  loan and/or charge 2% of the loan amount for breaching the
                  contract.
         (4)      If the Borrower breaches Clause No. 15, the Lender has the
                  authority to charge them 2% for breaching the contract.
         (5)      If the Borrower breaches the contract during the duration of
                  this agreement, the Lender has the authority/right to
                  terminate the loan agreement and amend the existing repayment
                  period to an earlier repayment period in order to collect the
                  loan from the Borrower. Furthermore, the Lender also has the
                  right to directly transfer money from the Borrower's account
                  to recall the amount of loan outstanding subject to the
                  conditions below:-
                  (1)      The Borrower's utilisation of the loan was for
                           purposes other than that specified above, even after
                           prior warning from the Lender.
                  (2)      The financial reports and other proposals which were
                           provided by the Borrower was incorrect.
                  (3)      Third party guarantees or mortgaged properties for
                           this loan agreement. Where the Borrower is unable to
                           provide a new guarantee or a new mortgage property if
                           the third party breaches the terms of this contract
                           or the property was accidentally damaged with the
                           result that the fair market value is not able to
                           cover the loan principal and interest.
<PAGE>   4

                  (4)      The Borrower was involved in a legal suit or is
                           likely to be involved in a legal suit
                  (5)      The occurrence of any event which affects the ability
                           of the Borrower to repay the amount of the loan.

14.      SOLUTIONS FOR ANY DISAGREEMENTS
         If there is any disagreement between the two parties, they shall
         attempt to resolve it by discussion between both parties.
         Alternatively, the Borrower can present the disagreement to the court.

15.      BOTH PARTIES HAVE AGREED ON THE TERMS AND CONDITIONS BELOW:-
         (1)      Borrower cannot use this existing loan as mortgage and lend to
                  third parties while the loan is not fully repaid to Lender.
         (2)      Borrower cannot act as a guarantor for other parties when this
                  existing loan has not been fully repaid to Lender.

16.      Both parties must strictly adhere to the legal and financial
         requirements during the term of this agreement.

17.      This agreement is only legally binding once both parties have signed
         and stamped on this agreement. This agreement shall be deem to be
         terminated once the Borrower has fully repaid the loan to the Lender.

18.      There are two original copies of this agreement and each party is to
         keep an original copy. There are also two (2) photocopies of this
         contract.

Signature  Signed                    Signature  Signed

Stamped    MYWEB NETWORK SYSTEM      STAMPED    CHINA CONSTRUCTION BANK BEIJING
           (BEIJING) CO. LTD.                   BRANCH QIANMEN SUB-BRANCH
Date       18 February 2000          Date       19 January 2000

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00007-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00007-of-00352.parquet"}]]