Document:

Exhibit 4.2 - Amended Warrants issued to investors in private placements in
October and November, 2001

TENGTU INTERNATIONAL CORP.

COMMON STOCK WARRANT

NEITHER THIS WARRANT NOR THE SECURITIES ISSUABLE UPON EXERCISE THEREOF HAVE BEEN
REGISTERED WITH THE UNITED STATES SECURITIES AND EXCHANGE COMMISSION OR THE
SECURITIES COMMISSION OF ANY STATE OR CANADIAN PROVINCE, OR UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE "ACT"). THIS WARRANT IS RESTRICTED AND MAY NOT BE
OFFERED, RESOLD, PLEDGED OR TRANSFERRED EXCEPT AS PERMITTED UNDER THE ACT
PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT OR AN EXEMPTION FROM SUCH
REGISTRATION REQUIREMENTS.

Void after one year from the date of Right to Purchase ___________ shares of
effectiveness of a registration statement Common Stock (subject to adjustment)
covering the shares into which this warrant is exercisable

PREAMBLE

           Tengtu International Corp., a Delaware corporation (the "Company"),
hereby certifies that, for value received, ___________________, the holder
hereof (the "holder"), is entitled, subject to the terms set forth below, to
purchase from the Company at any time or from time to time before 5:00 P.M. New
York time, on a date that is one year after the date of effectiveness of a
registration statement filed with the Securities and Exchange Commission
covering the shares into which this warrant is exercisable (the "Termination
Date"), fully paid and nonassessable shares of the Company's $.01 par value per
share common stock (the "Common Stock"). The purchase price per share (the
"Purchase Price") shall be, in the event of a purchase at any time during the
period commencing on the date hereof and ending on the Termination Date,
U.S.$1.20. The number of shares of Common Stock and the amount of the Purchase
Price are subject to adjustment as provided herein.

           This warrant is the Warrant (this "Warrant"), evidencing the right to
purchase shares of Common Stock of the Company, issued pursuant to that certain
Stock Purchase Agreement dated October 31, 2001 (the "Stock Purchase
Agreement"), between the Company and the Holder. This Warrant hereby replaces
the original Warrant granted to Holder dated October 31, 2001.Capitalized terms
used and not otherwise defined herein shall have the meanings set forth for such
terms in the Stock Purchase Agreement. This Warrant evidences the right to
purchase an aggregate of _____________ shares of Common Stock of the Company,
subject to adjustment as provided in this Warrant.

           As used herein, the following terms, unless the context otherwise
requires, have the following respective meanings:

           (a) The term "Company" includes any corporation which shall succeed
to or assume the obligations of the Company hereunder.

           (b) The term "Common Stock" includes all stock of any class or
classes (however designated) of the Company, authorized on or after the date
hereof, the holders of which shall have the right, without limitation as to
amount, either to all or to a share of the balance of current dividends and
liquidating dividends after the payment of dividends and distributions on any
shares entitled to preference, and the holders of which shall ordinarily, in the
absence of contingencies, be entitled to vote for the election of a majority of
directors of the Company (even though the right so to vote has been suspended by
the happening of such a contingency).

           (c) The term "Other Securities" refers to any stock (other than
Common Stock) and other securities of the Company or any other person (corporate
or otherwise) which the Holder of this Warrant at any time shall be entitled to
receive, or shall have received, on the exercise of this Warrant, in lieu of or
in addition to Common Stock, or which at any time shall be issuable or shall
have been issued in exchange for or in replacement of Common Stock or Other
Securities pursuant to Section 6 or otherwise.

<PAGE>

           (d) The term "Registration Statement" means any registration
statement of the Company filed or to be filed with the SEC which covers any of
the Registrable Securities pursuant to the provisions of this Warrant, including
all amendments (including post-effective amendments) and supplements thereto,
all exhibits thereto and all material incorporated therein by reference.

           (e) The term SEC, "Securities and Exchange Commission" or
"Commission" refers to the Securities and Exchange Commission or any other
federal agency then administering the Securities Act.

           (f) The term "Shares" means the Common Stock issued or issuable upon
exercise of this Warrant.

           (g) The term "Securities Act" means the Securities Act of 1933, as
amended, or any successor federal statute, and the rules and regulations of the
Securities and Exchange Commission thereunder, all as the same shall be in
effect at the time.

           (h) The term "Securities Exchange Act" means the Securities Exchange
Act of 1934, as amended, or any successor federal statute, and the rules and
regulations of the Securities and Exchange Commission thereunder, all as the
same shall be in effect at the time.

1.         Restricted Stock.

           1.1 If, at the time of any transfer or exchange (other than a
transfer or exchange not involving a change in the beneficial ownership of this
Warrant or the Shares) of this Warrant or the Shares, this Warrant or the Shares
shall not be registered under the Securities Act, the Company will require, as a
condition of allowing such transfer or exchange, that the Holder or transferee
of this Warrant or the Shares, as the case may be, furnish to the Company an
opinion of counsel reasonably acceptable to the Company or a "no action" or
similar letter from the Securities and Exchange Commission to the effect that
such exercise transfer or exchange may be made without registration under the
Securities Act. In the case of such transfer or exchange and in the case of an
exercise of this Warrant if the Shares to be issued thereupon are not registered
pursuant to the Securities Act, the Company will require a written statement
that this Warrant or the Shares, as the case may be, are being acquired for
investment and not with a view to the distribution thereof. The certificates
evidencing the Shares issued on the exercise of this Warrant shall, if such
Shares are being sold or transferred without registration under the Securities
Act, bear a legend similar to the legend on the face page of this Common Stock
Purchase Warrant.

                                      -2-
<PAGE>

           1.2 (a) The Company shall make and keep public information available,
as those terms are understood and defined in Rule 144 under the Securities Act,
at all times from and after 90 days following the effective date of the first
registration of the Company under the Securities Act of an offering of its
securities to the general public.

           1.2 (b) The Company shall file with the Commission in a timely manner
all required reports and other documents as the Commission may prescribe under
Section 13(a) or 15(d) of the Exchange Act.

           1.2 (c) The Company shall furnish to the Holder of this Warrant or
the Shares designated by the Holder, forthwith upon request, (i) a written
statement by the Company as to its compliance with the reporting requirements
under the Securities Act (at any time from and after 90 days following the
effective date of the first registration statement of the Company for an
offering of its securities to the general public) and of the reporting
requirements of the Exchange Act, (ii) a copy of the most recent annual or
quarterly report of the Company, (iii) any other reports and documents necessary
to satisfy the information-furnishing condition to offers and sales under Rule
144A under the Securities Act, and (iv) such other reports and documents as the
Holder of this Warrant or the Shares reasonably requests to avail itself of any
rule or regulation of the Commission allowing the Holder to sell any such
securities without registration.

2.         Exercise of Warrant.

           2.1 Exercise in Full. The Holder of this Warrant may exercise it in
full by surrendering this Warrant, with the form of subscription at the end
hereof duly executed by the Holder, to the Company at its principal office. The
surrendered Warrant shall be accompanied by payment, in cash or by certified or
official bank check payable to the order of the Company, in the amount obtained
by multiplying the number of shares of Common Stock called for on the face of
this Warrant by the applicable Purchase Price.

           2.2 Partial Exercise. This Warrant may be exercised in part by
surrender of this Warrant in the manner and at the place provided in Subsection
2.1 except that the amount of Common Stock obtained through the exercise shall
be calculated by multiplying (a) the number of shares of Common Stock called for
on the face of this Warrant as shall be designated by the Holder in the
subscription at the end hereof by (b) the Purchase Price. On any such partial
exercise, subject to the provisions of Section 2 hereof, the Company at its
expense will forthwith issue and deliver to, or upon the order of the Holder, a
new Warrant or Warrants of like tenor, in the name of the Holder, calling in the
aggregate on the face or faces thereof, for the number of shares of Common Stock
equal to the number of such shares called for on the face of this Warrant minus
the number of such shares designated by the Holder in the subscription at the
end hereof.

           2.3 Company Acknowledgment. The Company will, at the time of the
exercise, exchange or transfer of this Warrant, upon the request of the Holder
acknowledge in writing its continuing obligation to afford to the Holder any
rights (including, without limitation, any right to registration of the Shares)
to which the Holder shall continue to be entitled after such exercise or
exchange in accordance with the provisions of this Warrant. If the Holder of
this Warrant shall fail to make any such request, such failure shall not affect
the continuing obligation of the Company to afford to the Holder any such
rights.

                                      -3-
<PAGE>

3. Delivery of Stock Certificates, Etc., on Exercise. As soon as practicable
after the exercise of this Warrant, in full or in part, and in any event within
ten business (10) days thereafter, the Company, at its expense, (including the
payment by it of any applicable issue taxes) will cause to be issued in the name
of and delivered to the Holder, a certificate or certificates for the number of
fully paid and nonassessable Shares to which the Holder shall be entitled on
such exercise. No fractional Share or scrip representing a fraction of a Share
will be issued on exercise, but the number of Shares issuable shall be rounded
to the nearest whole Share.

4.         Adjustment for Reorganization, Consolidation, Merger, Etc.

           4.1 Merger, Etc. If the Company shall (a) effect a reorganization,
(b) consolidate with or merge into any other person, or (c) transfer all or
substantially all of its properties or assets to any other person under any plan
or arrangement contemplating the dissolution of the Company (any such
transaction being hereinafter sometimes referred to as a "Reorganization") then,
in each such case, the Holder of this Warrant, on the exercise hereof as
provided in Section 2 at any time after the consummation or effective date of
such Reorganization (the "Effective Date"), shall receive, in lieu of the Shares
issuable on such exercise prior to such consummation or such effective date, the
stock and other securities and property (including cash) to which the Holder
would have been entitled upon such consummation or in connection with such
dissolution, as the case may be, if the Holder had so exercised this Warrant,
immediately prior thereto. The successor corporation in any such Reorganization
described in clause (b) or (c) above where the Company will not be the surviving
entity (the "Acquiring Company") must agree prior to such Reorganization in a
writing satisfactory in form and substance to the Holder that this Warrant shall
continue in full force and effect and the terms hereof shall be applicable to
the shares of stock and other securities and property receivable on exercise
after the consummation of such Reorganization, and shall be binding upon the
issuer of any such stock or other securities (including, in the case of any
transfer of properties or assets referred to above, the person acquiring all or
substantially all of the properties or assets of the Company). If the Acquiring
Company has not so agreed to continue this Warrant, then the Company shall give
30 days' prior written notice to the Holder of this Warrant of such
Reorganization, during which 30-day period (the "Notice Period") the Holder at
its option and upon written notice to the Company shall be able to (i) exercise
this Warrant or any part thereof at an exercise price (the "Discounted Exercise
Price") equal to the then prevailing purchase price hereunder discounted at the
Discount Rate (as used herein the "Discount Rate" shall mean the then prevailing
interest rate on U.S. Treasury Notes issued on (or immediately prior to) the
date of such 30-day notice and maturing on the Termination Date (or immediately
prior thereto), such rate to be compounded annually through the Termination
Date, and in no event to be less than 10% annually); or (ii) on the Effective
Date, the Holder of this Warrant shall be paid an amount (the "Merger Profit
Amount") equal to the difference between the fair market value per share of
Common Stock of the Company being purchased by the Acquiring Company in the
Reorganization and the Discounted Exercise Price described in clause (i) above
and the Warrant shall simultaneously expire. The Merger Profit Amount shall be
payable in the same form as the common stockholders of the Company shall be paid
by the Acquiring Company for their shares of common stock of the Company. The
fair market value of any noncash property received from the Acquiring Company
upon the Reorganization shall be determined in good faith by the Board of
Directors of the Company, as approved by the Company's stockholders.

                                      -4-
<PAGE>

           4.2 Dissolution. Except as otherwise expressly provided in Subsection
5.1, in the event of any dissolution of the Company following the transfer of
all or substantially all of its properties or assets, the Company, prior to such
dissolution, shall at its expense deliver or cause to be delivered the stock and
other securities and property (including cash, where applicable) receivable by
the Holder of this Warrant after the effective date of such dissolution pursuant
to this Section 4 to a bank or trust company having its principal office in New
York, New York, as trustee for the Holder of this Warrant.

           4.3 Continuation of Terms. Except as otherwise expressly provided in
Subsection 4.1, upon any reorganization, consolidation, merger or transfer (and
any dissolution following any transfer) referred to in this Section 4, this
Warrant shall continue in full force and effect and the terms hereof shall be
applicable to the shares of stock and other securities and property receivable
on the exercise of this Warrant after the consummation of such reorganization,
consolidation or merger or the effective date of dissolution following any such
transfer, as the case may be, and shall be binding upon the issuer of any such
stock or other securities, including, in the case of any such transfer, the
person acquiring all or substantially all of the properties or assets of the
Company, whether or not such person shall have expressly assumed the terms of
this Warrant as provided in Section 4.1.

           5. No Impairment. The Company will not, by amendment of its
certificate of incorporation or through any reorganization, transfer of assets,
consolidation, merger, dissolution, issue or sale of securities or any other
voluntary action, avoid or seek to avoid the observance or performance of any of
the terms of this Warrant, but will, at all times, in good faith, assist in the
carrying out of all such terms and in the taking of all such action as may be
necessary or appropriate in order to protect the rights of the Holders of this
Warrant against dilution or other impairment. Without limiting the generality of
the foregoing, the Company (a) will not increase the par value of any shares of
stock receivable on the exercise of this Warrant above the amount payable
therefor on such exercise and (b) will at all times reserve and keep available
out of its authorized capital stock, solely for the purpose of issue upon
exercise of this Warrant as herein provided, such number of shares of Common
Stock as shall then be issuable upon exercise of this Warrant in full and shall
take all such action as may be necessary or appropriate in order that all shares
of Common Stock that shall be so issuable shall be duly and validly issued and
fully paid and nonassessable and free from all taxes, liens and charges with
respect to the issue thereof.

                                      -5-
<PAGE>

6.         No Dilution.

           (a) In the event the Company shall pay a share dividend or other
distribution payable in shares of Common Stock, or the issued shares of Common
Stock shall be subdivided, combined or consolidated, by reclassification or
otherwise, into a greater or lesser number of shares of Common Stock, the
Purchase Price in effect immediately prior (and each Purchase Price in effect
subsequent) to such subdivision or combination shall, concurrently with the
effectiveness of such subdivision, combination or consolidation, be
proportionately adjusted. In the case of a share dividend or other distribution
payable in shares of Common Stock such adjustment shall occur as follows: the
Purchase Price that is then in effect (and in effect at any time thereafter)
shall be decreased or increased, as the case may be, as of the time of such
issuance, or in the event a record date is fixed, as of the close of business on
such record date, by multiplying or dividing the Purchase Price, as the case may
be, then (and therefore) in effect by a fraction (1) the numerator of which is
the total number of shares of issued Common Stock immediately prior to the time
of such issuance or the close of business on such record date, as the case may
be, and (2) the denominator of which is the total number of shares of issued
Common Stock immediately prior to the time of such issuance or the close of
business on such record date plus the number of shares of Common Stock issuable
in payment of such dividend or distribution; provided, however, that, if such
record date is fixed and such dividend is not fully paid or if such distribution
is not fully made on the date fixed therefor, the Purchase Price shall be
recomputed accordingly as of the close of business on such record date and
thereafter the Purchase Price shall be adjusted to reflect the actual payment of
such dividend or distribution.

           (b) Upon the occurrence of each adjustment of the Purchase Price
pursuant to this Section 6, the Company shall prepare a certificate setting
forth such adjustment and showing in detail the facts upon which such adjustment
is based.

           (c) The form of this Warrant need not be changed because of any
change in the Purchase Price pursuant to this Section 6 and any Warrant issued
after such change may state the same Purchase Price and the same number of
shares of Common Stock as are stated in this Warrant as initially issued.
However, the Company may at any time in its sole discretion (which shall be
conclusive) make any change in the form of this Warrant that it may deem
appropriate and that does not affect the substance thereof. Any Warrant
thereafter issued or countersigned, whether in exchange or substitution for an
outstanding Warrant or otherwise, may be in the form as so changed.

           (d)        In case at any time after the date of this Warrant:

           (i) The Company shall declare a dividend (or any other distribution)
on its shares of Common Stock payable otherwise than in cash out of its earned
surplus; or

                                      -6-
<PAGE>

           (ii) The Company shall authorize any reclassification of the shares
of its Common Stock, or any consolidation or merger to which it is a party and
for which approval of any shareholders of the Company is required, or the sale
or transfer of all or substantially all of its assets or all or substantially
all of its issued and outstanding stock; or

           (iii) Events shall have occurred resulting in the voluntary and
involuntary dissolution, liquidation or winding up of the Company; then the
Company shall cause notice to be sent to the Holder at least twenty (20) days
prior (or ten (10) day prior in any case specified in clause (i) above, or on
the date of any case specified in clause (iii) above) to the applicable record
date hereinafter specified, a notice stating (1) the date on which a record is
to be taken or the purpose of such dividend, distribution or rights, or, if a
record is not to be taken, the date as of which the holders of shares of Common
Stock of record will be entitled to such dividend, distribution or rights are to
be determined or (2) the date on which such reclassification, consolidation,
merger, sale, transfer, initial public offering, dissolution, liquidation or
winding up is expected to become effective, and the date as of which it is
expected that holders of shares of Common Stock or record shall be entitled to
exchange their shares for securities or other property deliverable upon such
reclassification, consolidation, merger, sale transfer, dissolution, liquidation
or winding up. Failure to give any such notice of any defect therein shall not
affect the validity of the proceedings referred to in clauses (i), (ii) and
(iii) above.

7. Reporting Requirements. The Company shall provide written notice to Holder of
any AIneffective Period,@ as defined below, within two days of the commencement
of any Ineffective Period. AIneffective Period@ shall mean any period of time
after the effective date of a registration statement covering this Warrant or
the Shares during the term hereof that such registration statement or any
supplemental or amended registration statement becomes ineffective or
unavailable for use for the sale or resale, as applicable, of any or all of the
Shares for any reason (or in the event the prospectus is not current and
deliverable).

8. Replacement of Warrants. On receipt of evidence reasonably satisfactory to
the Company of the loss, theft, destruction or mutilation of this Warrant and,
in the case of any such loss, theft or destruction of this Warrant, on delivery
of an indemnity agreement or security reasonably satisfactory in form and amount
to the Company or, in the case of any such mutilation, on surrender and
cancellation of this Warrant, the Company at its expense will execute and
deliver, in lieu thereof, a new Warrant of like tenor.

9. Expenses. The Company agrees to pay any and all stamp, transfer and other
similar taxes payable or determined to be payable in connection with the
execution and delivery of this Warrant and the issuance of this Warrant.

10. Warrant Agent. The Company may, by written notice to the Holder of this
Warrant, appoint an agent having an office in New York, New York, or U.S. Stock
Transfer Corp. for the purpose of issuing Shares on the exercise of this
Warrants pursuant to Section 2, exchanging this Warrant pursuant to Section 6,
and replacing this Warrant pursuant to Section 8, or any of the foregoing, and
thereafter any such issuance, exchange or replacement, as the case may be, shall
be made at such office by such agent.

                                      -7-
<PAGE>

11. Remedies. The Company stipulates that the remedies at law of the Holder of
this Warrant, in the event of any default or threatened default by the Company
in the performance of or compliance with any of the terms of this Warrant, are
not and will not be adequate, and that such terms may be specifically enforced
by a decree for the specific performance of any agreement contained herein or by
an injunction against a violation of any of the terms hereof or otherwise.

12. Negotiability, Etc. This Warrant is issued upon the following terms, to all
of which the Holder or owner hereof, by the taking hereof, consents and agrees:

           (a) title to this Warrant may be transferred by endorsement (by the
Holder executing the form of assignment at the end hereof) and delivery in the
same manner as in the case of a negotiable instrument transferable by
endorsement and delivery;

           (b) any person in possession of this Warrant, properly endorsed, is
authorized to represent himself as absolute owner hereof and is empowered to
transfer absolute title hereto by endorsement and delivery hereof to a bona fide
purchaser hereof for value; each prior taker or owner waives and renounces all
of his equities or rights in this Warrant in favor of each such bona fide
purchaser, and each such bona fide purchaser shall acquire absolute title hereto
and to all rights represented hereby; and

           (c) until this Warrant is transferred on the books of the Company,
the Company may treat the registered holder hereof as the absolute owner hereof
for all purposes, notwithstanding any notice to the contrary.

13. Notice, Etc. All notices and other communications from the Company to the
Holder of this Warrant shall be mailed by first class registered or certified
airmail, postage prepaid, at such address as may have been furnished to the
Company in writing by the Holder.

14. Miscellaneous. This Warrant and any term hereof may be changed, waived,
discharged or terminated only by an instrument in writing signed by the party
against which enforcement of such change, waiver, discharge or termination is
sought. This Warrant is being delivered in the State of New York and shall be
construed and enforced in accordance with and governed by its laws. The headings
in this Warrant are for purposes of reference only, and shall not limit or
otherwise affect any of the terms hereof. This Warrant is being executed as an
instrument under seal. All nouns and pronouns used herein shall be deemed to
refer to the masculine, feminine or neuter, as the identity of the person or
persons to whom reference is made herein may require.

15. Expiration. The right to exercise this Warrant shall expire at 5:00 P.M.,
New York time, on the Termination Date.

                                      -8-
<PAGE>

Dated as of: October 31, 2001             TENGTU INTERNATIONAL CORP.

By:________________________
Name:      John Watt
Title: President

ATTACHMENT A

NOTICE OF EXERCISE

(To be Executed by the Registered Holder in order to Exercise the Warrant)

The undersigned holder hereby irrevocably elects to purchase ____ shares of
Common Stock of Tengtu International Corp. (the ACompany@) pursuant to the
Common Stock Warrant void after the Termination Date, as defined in the Warrant,
issued by the Company according to the conditions set forth in said warrant and
as of the date set forth below.*

Date of Exercise:

Number of Shares to be Purchased: __________________________________________

Applicable Purchase Price:

Signature:
[Name]

Address:

* This original Warrant must accompany this Notice of Exercise.

                                      -9-
<PAGE>Exhibit 4.3       Special Warrant issued to investors in a private placement
                  which closed June 20, 2002

                           SPECIAL WARRANT CERTIFICATE

THE SECURITIES REPRESENTED HEREBY HAVE NOT AND WILL NOT BE REGISTERED UNDER THE
UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE "U.S. SECURITIES ACT").
THE HOLDER HEREOF, BY PURCHASING SUCH SECURITIES, AGREES FOR THE BENEFIT OF THE
CORPORATION THAT SUCH SECURITIES MAY BE OFFERED, SOLD, PLEDGED OR OTHERWISE
TRANSFERRED ONLY (A) TO THE CORPORATION, (B) OUTSIDE THE UNITED STATES IN
ACCORDANCE WITH RULE 904 OF REGULATION S UNDER THE U.S. SECURITIES ACT, (C)
WITHIN THE UNITED STATES AFTER REGISTRATION OR IN ACCORDANCE WITH THE EXEMPTION
FROM THE REGISTRATION REQUIREMENTS UNDER THE U.S. SECURITIES ACT PROVIDED BY
RULE 144 THEREUNDER, IF APPLICABLE, AND IN ACCORDANCE WITH APPLICABLE STATE
SECURITIES LAWS, OR (D) WITHIN THE UNITED STATES IN A TRANSACTION THAT DOES NOT
REQUIRE REGISTRATION UNDER THE U.S. SECURITIES ACT OR ANY APPLICABLE STATE
SECURITIES LAWS AND THE HOLDER HAS PRIOR TO SUCH SALE FURNISHED TO THE
CORPORATION AN OPINION OF COUNSEL, OR RECOGNIZED STANDING, REASONABLY
SATISFACTORY TO THE CORPORATION.

In addition, upon the original issuance of the Special Warrants and until the
Qualification Date, certificates representing the Special Warrants, and all
certificates issued in exchange therefor or in substitution thereof, shall bear
the following legend: THIS SECURITY MAY NOT BE TRANSFERRED TO A BENEFICIAL OWNER
WHO IS A RESIDENT OF CANADA UNLESS SUCH TRANSFER IS MADE IN COMPLIANCE WITH THE
SECURITIES LAWS OF ANY APPLICABLE CANADIAN PROVINCE OR TERRITORY. UNLESS
PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE SECURITIES SHALL NOT
TRADE THE SECURITIES BEFORE THE EARLIER OF (I) THE DATE THAT IS 12 MONTHS AND A
DAY AFTER THE DATE THE ISSUER FIRST BECAME A REPORTING ISSUER IN ANY OF ALBERTA,
BRITISH COLUMBIA, MANITOBA, NOVA SCOTIA, ONTARIO, QUEBEC AND SASKATCHEWAN, IF
THE ISSUER IS A SEDAR FILER; AND (II) THE DATE THAT IS 12 MONTHS AND A DAY AFTER
THE LATER OF (A) THE DISTRIBUTION DATE, AND (B) THE DATE THE ISSUER BECAME A
REPORTING ISSUER IN THE LOCAL JURISDICTION OF THE ISSUER OF THE PURCHASER OF THE
SECURITIES THAT ARE THE SUBJECT OF THE TRADE.

<PAGE>

SPECIAL WARRANTS
TENGTU INTERNATIONAL CORP.

SPECIAL WARRANT NO.                                         SPECIAL WARRANTS
each entitling the holder to acquire one (1) Common Share and one half of one
(1/2) Common Share Purchase Warrant subject to adjustment in certain events.

THIS IS TO CERTIFY THAT

------------------------------------------------------

(the "holder")

is the registered holder of the number of Special Warrants of TENGTU
INTERNATIONAL CORP. (the "Company") specified above and is thereby entitled,
without payment of any additional consideration and subject to the terms and
conditions below, to be issued one Common Share and one half of one Common Share
Purchase Warrant of the Company for each Special Warrant, subject to adjustment
as herein set forth, by surrendering to the Company, at its principal office in
Toronto, Ontario during the exercise period referred to below, this Special
Warrant Certificate together with a notice of exercise in the form set forth
below duly completed and executed. The terms and conditions of this Warrant are
set out in this Warrant Certificate.

1.         DEFINITIONS

As used in this Warrant Certificate:

"Business Day" means a day other than a Saturday, Sunday or any other day in
which the principal commercial banks located in the City of Toronto, Ontario are
not open for business;

"Common Share Purchase Warrants" means the warrants to purchase Common Shares
pursuant to a form of common share purchase warrant attached to this Warrant
Certificate as Schedule "C" and "Common Share Purchase Warrant" means any one of
them;

"Common Shares" means fully paid and non-assessable common shares in the capital
of the Company as currently constituted subject to the adjustments set out in
this Warrant Certificate and "Common Share" means any one of them;

"Common Share Purchase Warrant Shares" means the Common Shares issued upon the
exercise of the Common Share Purchase Warrants;

"Exchange Number", at any time, means that number of Common Shares and Common
Share Purchase Warrants that the Holder is entitled to receive for each Warrant
held upon exercise of the rights attached to the Warrant, as such number may be
adjusted by the provisions herein, and that number, as at the date hereof, is
equal to one Common Share and one-half of one Common Share Purchase Warrant
provided that, if the Qualification Date does not occur prior to the
Qualification Deadline, that number, all other things remaining the same, will
equal one and one-tenth of one Common Share and fifty-five one hundredths of one
Common Share Purchase Warrant;

"Exercise Form" means the form of Notice of Exercise attached to this Warrant
Certificate as Schedule "A";

"Fair Market Value" means
           (a) if the Common Shares are listed and posted for trading on a Stock
Exchange, the Fair Market Value shall be the last reported sale price per Common
Share on such exchange on the last Business Day prior to the date of exercise of
this Warrant or, if no such sale is made (or reported) on such day, the average
of the closing bid and ask prices for such day on such exchange or system, or
           (b) if the Common Shares are not listed on a Stock Exchange, the Fair
Market Value shall be the fair saleable value per Common Share (determined
without giving effect to a discount for (i) a minority interest or (ii) any lack
of liquidity of the Common Shares or the fact that the Company may have no class
of shares that are freely tradeable under the Securities Act (Ontario)) as
determined by the Board of Directors of the Company acting reasonably;

                                      -2-
<PAGE>

"Holder" or "Warrantholder" means the registered holder of this Warrant
Certificate or any additional warrant certificates issued by the Company
pursuant to the terms hereof;

"Principal Office" means 236 Avenue Road, Toronto, Ontario  M5R 2J4;

"Prospectus" means the (final) prospectus to be prepared, certified and filed by
the Company with the Ontario Securities Commission, relating to the distribution
of the Common Shares and Common Share Purchase Warrants underlying the Special
Warrants evidenced by this certificate and any amendment or supplement thereto;

"Qualification Date" means the date which is the later of: (i) the day a receipt
has been issued for the Prospectus by the Ontario Securities Commission and (ii)
the day the United States Securities and Exchange Commission declares effective
a Registration Statement to register the Common Shares for resale;

"Qualifying Deadline" means 5:00 p.m. (Toronto time) on the date that is 150
days following the date hereof;

"Registration Statement" means a registration statement on Form S-1 filed with
the United States Securities and Exchange Commission registering for resale, as
the context requires, the Common Shares issuable upon exercise of the Special
Warrants; or the Common Share Purchase Warrants and Common Share Purchase
Warrant Shares;

"Stock Exchange" means any of The Toronto Stock Exchange, The TSX Venture
Exchange, the New York Stock Exchange, NASDAQ, the American Stock Exchange or
the NASDAQ OTCBB;

"Time of Expiry" means 5:00 p.m. (Toronto time) on the earlier of: (a) the fifth
Business Day following the Qualification Date; and (b) the date that is twelve
months following the date of this Warrant Certificate;

"Warrant Certificate" means this special warrant certificate; and

"Warrants" means the special warrants to purchase Common Shares pursuant to this
Warrant Certificate and "Warrant" means any one of them.

                                      -3-
<PAGE>

2.         EXERCISE OF WARRANTS
           The Warrants evidenced by this Warrant Certificate may be exercised
for Common Shares and Common Share Purchase Warrants for no additional
consideration by the Holder at any time prior to the Time of Expiry by
surrendering to the Company at its Principal Office this Warrant Certificate
evidencing such Warrants together with a duly completed and executed Exercise
Form. Surrender of this Warrant Certificate will be effective only on personal
delivery thereof to, or, if sent by mail or other means of transmission, on
actual receipt thereof by, the Company at the Principal Office. Within two
Business Days following the relevant exercise date and surrender of the
applicable Warrant Certificates, the Company shall cause to be delivered or
mailed to or to the order of the Holder certificates representing the
appropriate number of Common Shares issuable upon such exercise of such Special
Warrants and the appropriate number of Common Share Purchase Warrants issuable
upon such exercise of such Special Warrants. If fewer Warrants are exercised
than the number of Warrants represented hereby, the Holder will be entitled to
receive without charge the Warrant Certificate in respect of the balance of the
Warrants not so exercised.

           If the last day on the Time of Expiry is not a Business Day, then the
period to exercise the Warrant shall terminate on the next succeeding day that
shall not be such a day, and during such period the Holder shall have the right
to exercise this Warrant into the kind and amount of shares and other securities
and property (including cash) receivable by a holder of the number of Common
Shares and Common Share Purchase Warrants into which this Warrant would have
been exercisable immediately prior thereto.

3.         DEEMED EXERCISE ON QUALIFICATION DATE
           In the event the Holder of this Warrant (the "Holder") has not yet
exercised all of the Warrants evidenced hereby prior to the Qualification Date,
within two Business Days of the Qualification Date the Company shall promptly
send to the Holder at the address of the Holder noted on this Warrant
Certificate, a copy of the Prospectus and a copy of the Registration Statement.
The Prospectus and Registration Statement shall be accompanied by a notice from
the Company advising the Holder that the Company has received a receipt for the
Prospectus in the province of Ontario and that the United States Securities and
Exchange Commission has declared effective the Registration Statement (or a
relevant exempting order(s) has been obtained) and advising the Holder that the
Holder's Warrants will be deemed exercised for Common Shares and Common Share
Purchase Warrants immediately prior to the Time of Expiry unless the Holder
exercises the right to subscribe for Common Shares and Common Share Purchase
Warrants before such time pursuant to Section 2 hereof. The Common Shares and
Common Share Purchase Warrants for which the Holder shall have exercised shall
be and shall be deemed to be issued to the Holder as the owner of record of such
securities as of the date of exercise. In such event, certificates for the
Common Shares and Common Share Purchase Warrants, evidencing the aggregate
number of Common Shares and Common Share Purchase Warrants for which the Holder
is entitled to exercise hereunder, shall be delivered (unless contrary
instructions are given to the Company by the Holder prior to the delivery of
such certificates) to the Holder at the address of the Holder noted on this
Warrant Certificate. Subject to the receipt by the Company of contrary
instructions from the Holder, each certificate so delivered shall evidence the
aggregate number of Common Shares and Common Share Purchase Warrants, as the
case may be, for which the Holder is entitled to receive hereunder, and shall be
registered in the name of the Holder. The Company shall pay all expenses and
charges (excluding any applicable taxes) payable in connection with the
preparation, execution and delivery of certificate(s) pursuant to this section,
except that in case such certificate(s) shall be registered in the name or names
other than the Holder or its nominee, funds sufficient to pay all stock transfer
taxes which shall be payable in connection with the execution and delivery of
such certificate(s) shall be paid by the Holder to the Company at the time of
delivery of such certificate(s) as set out above.

                                      -4-
<PAGE>

4.         EXPIRATION OF WARRANT CERTIFICATE AND WARRANTS
           At the Time of Expiry, any Warrants evidenced by this Warrant
Certificate which are outstanding and have not been exercised shall be
automatically exercised by the Company, on behalf of the Holder, without any
further action or payment on the part of the Holder. The Common Shares and
Common Share Purchase Warrants issuable in respect of such exercise of such
Warrants shall be issued to such holder in the manner set forth in Section 3
hereof. Surrender of this Warrant Certificate will be effective only on personal
delivery thereof to, or, if sent by mail or other means of transmission, on
actual receipt thereof by, the Company at the Principal Office specified above.

5.         ADJUSTMENT WHERE QUALIFICATION DATE DOES NOT OCCUR BEFORE
           QUALIFICATION DEADLINE
           In the event the Qualification Date does not occur on or prior to the
Qualification Deadline (a "Default"), and the Holder has not yet exercised all
of the Warrants evidenced hereby, the Corporation shall, within two business
days, send a notice to the Holder (the "Non-Satisfaction Notice"), at the
address of the Holder noted on this Warrant Certificate. The Non-Satisfaction
Notice shall inform the Holder of such event and instruct the Holder of its
rights under this Section. If a Default has occurred, the Holder may
nevertheless exercise the Warrants registered in the name of such Holder until
the Time of Expiry. Any exercise of Warrants at any time following a Default
shall be on the basis of an entitlement to receive one and one-tenth of one
(1.1) Common Share (in lieu of 1 Common Share) and fifty-five one-hundredths
(0.55) of a Common Share Purchaser Warrant (in lieu of one-half of one Common
Share Purchase Warrant) for each Warrant so exercised without payment of any
additional consideration.

           Moreover, should the US Securities and Exchange Commission fail to
declare effective a Registration Statement to register the Common Share Purchase
Warrants and Common Share Purchase Warrant Shares within 90 days following the
Qualification Date, then each outstanding Common Share Purchase Warrant shall
thereafter represent the right of a holder to acquire at a price of US$0.75, in
lieu of 1.0 Common Share Purchase Warrant Share, 1.1 Common Share Purchase
Warrant Shares, without payment of additional consideration.

           The Holder, subject to any rights of rescission or damages available
under applicable securities laws, will not be entitled to a refund of any of the
subscription price for any of its Warrants.

                                      -5-
<PAGE>

6.         RESERVATION OF SHARES AND COVENANTS OF THE COMPANY
           The Company shall at all times prior to the Time of Expiry have
allotted and reserved for issuance and/or delivery upon exercise of this Warrant
such number of Common Shares and Common Share Purchase Warrants sufficient to
enable the Company to satisfy the rights of acquisition provided for herein.

           The Company covenants with the Holder that so long as any Warrants
remain outstanding and unexercised at or prior to the Time of Expiry:
           (a) it will cause the Common Shares and Common Share Purchase
Warrants and the certificates representing the Common Shares and Common Share
Purchase Warrants subscribed and paid for pursuant to the exercise of the
Warrants to be duly issued and delivered in accordance herewith and the terms
hereof;

           (b) all Common Shares and Common Share Purchase Warrants that shall
be issued upon exercise of the right to purchase provided for herein and shall
be fully paid and non-assessable;

           (c) it will at all times do or cause to be done all things necessary
to preserve and keep in full force and effect its corporate existence;

           (d) it will perform and carry out all of the acts or things to be
done by it as provided herein;

           (e) it is duly authorized to create and issue this Warrant and this
Warrant is a valid and enforceable obligation of the Company in accordance with
the terms hereof; and

           (f) if any instrument is required to be filed with, or any
permission, order or ruling is required to be obtained from the Ontario
Securities Commission or the United States Securities and Exchange Commission,
it will use commercially reasonable efforts to file such instrument, obtain such
permission, order or ruling or take all such other action at its reasonable
expense as is required or appropriate in the circumstances.

7.         FRACTIONAL SECURITIES
           No fractional securities shall be issued upon the exercise of this
Warrant. With respect to any fraction of a security called for upon any exercise
hereof, the Company shall pay to the Holder an amount in cash equal to such
fraction multiplied by the Fair Market Value of a Common Share.

                                      -6-
<PAGE>

8.         EXCHANGE, TRANSFER, ASSIGNMENT OR LOSS OF WARRANT
           Subject to compliance with applicable laws, this Warrant Certificate
is exchangeable, without expense, at the option of the Holder, upon presentation
and surrender hereof to the Company for certificates representing other special
warrants of the Company of different denominations entitling the Holder thereof
to purchase in the aggregate the same number of Common Shares purchasable
hereunder. Upon surrender of this Warrant Certificate to the Company at its
Principal Office, with the Transfer Form annexed hereto as Schedule "B" duly
executed and funds sufficient to pay any applicable transfer tax, the Company
shall, without charge, execute and deliver a new Warrant Certificate in the name
of the assignee named in such Assignment Form for the unexercised number of
Warrants and this Warrant Certificate shall promptly be canceled. This Warrant
Certificate may be divided or combined with other warrants of the Company that
carry the same rights upon presentation hereof at the Principal Office of the
Company, together with a written notice specifying the names and denominations
in which new warrants are to be issued and signed by the Holder hereof. The term
"Warrant" as used herein includes any warrants into which this Warrant may be
divided or exchanged. Upon receipt of the Company of reasonable evidence
satisfactory to it of the loss, theft, destruction or mutilation of this Warrant
Certificate, and (in the case of loss, theft or destruction) a reasonably
satisfactory indemnification, and upon surrender and cancellation of this
Warrant Certificate, if mutilated, the Company will execute and deliver a new
Warrant Certificate of like tenor and date. Any such new Warrant Certificate
executed and delivered shall constitute an additional contractual obligation on
the part of the Company, whether or not the Warrant so lost, stolen, destroyed
or mutilated shall be at any time enforceable by anyone.

9.         TRANSFERABILITY OF SHARES
           The Common Shares and Common Share Purchase Warrants shall, at the
time of their issuance, be eligible for issuance to the Holder, and the Common
Shares and Common Share Purchase Warrants so issued may be transferred by the
Holder subject to limitations imposed by applicable securities laws (including
those set forth above), provided that on or before the issuance or transfer of
such Common Shares and Common Share Purchase Warrants, all necessary notices and
other documents with respect to the issue of the Warrant Certificate and the
Warrants represented thereby, and with respect to the issuance or transfer of
the Common Shares or Common Share Purchase Warrants, shall have been filed by
the Holder with the applicable securities regulatory authorities.

10.        TRANSFER OF WARRANT CERTIFICATES AND WARRANTS
           The Holder may not sell, assign, transfer or enter into any agreement
or option to otherwise dispose of (a "Transfer") or pledge, mortgage, charge,
create a security interest in, hypothecate or encumber (a "Charge") this Warrant
Certificate or the Warrants represented hereby except with the consent of the
board of directors of the Company, which consent may not be unreasonably
withheld and the transferee (in the case of a Transfer) or chargee (in the case
of a Charge) has complied with Section 8 of this Warrant Certificate and
received an opinion of counsel, satisfactory to the Company and the Holder, that
such Transfer or Charge is not in violation of applicable securities
legislation.

11.        RESTRICTIVE LEGEND
           This Warrant Certificate hereby bears the following legends, and each
certificate representing the Common Shares, Common Share Purchase Warrants and
any other securities issued in respect of the Warrants or Common Shares upon any
stock split, stock dividend, recapitalization, merger, consolidation or similar
event (each of the foregoing securities being referred to herein as "Restricted
Securities"), may at the Company's discretion be stamped or otherwise imprinted
with legends substantially in the following form (in addition to the legend
required under any applicable securities law):

                                      -7-
<PAGE>

           "THE WARRANTS REPRESENTED BY THIS CERTIFICATE AND THE COMMON SHARES
INTO WHICH THEY ARE EXERCISABLE HAVE NOT AND WILL NOT BE REGISTERED OR QUALIFIED
UNDER ANY SECURITIES LEGISLATION, INCLUDING THE UNITED STATES SECURITIES ACT OF
1933, AS AMENDED, OR THE SECURITIES ACT (ONTARIO), AND THEREFORE MAY NOT BE
OFFERED, SOLD, TRANSFERRED, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE
DISPOSED OF, IN WHOLE OR IN PART, IN ANY JURISDICTION, INCLUDING ANY CANADIAN
PROVINCE OR TERRITORY AND THE UNITED STATES, UNLESS THE SECURITIES ARE
SUBSEQUENTLY QUALIFIED OR AN EXEMPTION IS OBTAINED IN AND ACCORDING TO THE LAWS
OF THE APPLICABLE JURISDICTION AND THE COMPANY RECEIVES AN OPINION OF COUNSEL TO
SUCH EFFECT, WHICH OPINION IS REASONABLY SATISFACTORY TO THE COMPANY.

           UNLESS PERMITTED UNDER SECURITIES LEGISLATION, THE HOLDER OF THE
SECURITIES SHALL NOT TRADE THE SECURITIES BEFORE THE EARLIER OF (I) THE DATE
THAT IS 12 MONTHS AND A DAY AFTER THE DATE THE ISSUER FIRST BECAME A REPORTING
ISSUER IN ANY OF ALBERTA, BRITISH COLUMBIA, MANITOBA, NOVA SCOTIA, ONTARIO,
QUEBEC AND SASKATCHEWAN, IF THE ISSUER IS A SEDAR FILER; AND (II) THE DATE THAT
IS 12 MONTHS AND A DAY AFTER THE LATER OF (A) THE DISTRIBUTION DATE, AND (B) THE
DATE THE ISSUER BECAME A REPORTING ISSUER IN THE LOCAL JURISDICTION OF THE
ISSUER OF THE PURCHASER OF THE SECURITIES THAT ARE THE SUBJECT OF THE TRADE."

           The Company will promptly, upon request, remove any such legends when
no longer required by the terms of this Warrant Certificate or by applicable
law.

12.        RIGHTS OF THE HOLDER
           The Holder shall not, by virtue hereof, be entitled to any rights as
a shareholder in the Company, either at law or equity, and the rights of the
Holder are limited to those expressed in this Warrant Certificate and are not
enforceable against the Company except to the extent set forth herein.

13.        ANTI-DILUTION PROVISIONS
           The "Exchange Number" shall be subject to adjustment from time to
time in the following events:
           (A) If during the period from the date of this Warrant Certificate to
the Time of Expiry (the "Exercise Period") the Company shall:
               (a) issue to all or substantially all the holders of the Common
               Shares by way of a stock distribution, stock dividend or
               otherwise, Common Shares or securities exchangeable for or
               convertible into Common Shares (the "Convertible Securities");
               (b) subdivide or redivide its outstanding Common Shares into a
               greater number of Common Shares; or
               (c) combine, consolidate or reduce its outstanding Common Shares
               into a lesser number of Common Shares;

                                      -8-
<PAGE>

(any of these events being herein called a "Share Reorganization"), then on each
such event, the Exchange Number shall be adjusted effective immediately after
the record date at which the holders of Common Shares are determined for the
purposes of the Share Reorganization to a number that is the product of (1) the
Exchange Number in effect on the record date, and (2) a fraction:
                    (i) the numerator of which shall be the number of Common
Shares outstanding after giving effect to the Share Reorganization; and
                    (ii) the denominator of which shall be the number of Common
Shares outstanding on the record date before giving effect to the Share
Reorganization. For the purposes of determining the number of Common Shares
outstanding at any particular time for the purpose of this Section, there shall
be included that number of Common Shares which would have resulted from the
conversion at that time of all Convertible Securities;

           (B) If prior to the Time of Expiry, the Company shall issue rights,
options or warrants to all or substantially all the holders of the Common Shares
pursuant to which those holders are entitled to subscribe for, purchase or
otherwise acquire Common Shares (the "Offered Shares") or Convertible Securities
(the "Offered Convertible Securities") within a period of 45 days from the date
of issue thereof at a price per Common Share or underlying Common Share less
than 95% of the Fair Market Value at the record date for such distribution (any
such issuance being herein called a "Rights Offering") and the Company does not
provide the holders of Special Warrants with the opportunity to participate in
the Rights Offering on the same terms and conditions applicable to holders of
Common Shares, the Exchange Number shall be adjusted effective immediately after
the record date at which holders of Common Shares are determined for the
purposes of the Rights Offering to an Exchange Number that is the product of (i)
the Exchange Number in effect immediately prior to the record date and (ii) a
fraction:
                    (a) the numerator of which shall be the sum of (i) the
number of Common Shares outstanding on the record date and (ii) that number of
Common Shares equal to the aggregate price of the total number of Offered Shares
or Common Shares underlying the Offered Convertible Securities divided by the
Fair Market Value; and
                    (b) the denominator of which shall be the sum of (i) the
number of Common Shares outstanding on the record date and (ii) the total number
of Offered Shares or Common Shares underlying the Offered Convertible
Securities. Any Offered Shares or Offered Convertible Securities owned by or
held for the account of the Company shall be deemed not to be outstanding for
the purpose of any computation. If all the rights, options or warrants are not
so issued or if all rights, options or warrants are not exercised prior to the
expiration thereof, the Exchange Number shall be readjusted to the Exchange
Number in effect immediately prior to the record date and the Exchange Number
shall be further adjusted based upon the number of Offered Shares or Offered
Convertible Securities actually delivered upon the exercise of the rights,
options or warrants, as the case may be, but subject to any other adjustment
required hereunder by reason of any event arising after that record date; or

                                      -9-
<PAGE>

(C) If prior to the Time of Expiry, the Company shall fix a record date for the
issuance of or the making of a distribution to all or substantially all the
holders of Common Shares (i) shares of any class other than Common Shares or
(ii) rights, options or warrants other than rights, options or warrants in
respect of which the provisions of this Section shall apply or (iii) evidences
of indebtedness or (iv) any other assets and that issuance or distribution does
not constitute a Share Reorganization (any of those events being herein called a
"Special Distribution"), the Company shall issue or distribute to the holders of
the Warrants their pro rata share of such Special Distribution, based on the
number of Common Shares and Common Share Purchase Warrants to which they are
entitled upon exercise of their Warrants as of the record date or effective date
of such Special Distribution, such issuance or distribution to be made forthwith
following the exercise by any holder of his or her Warrants.

14.        ADJUSTMENTS
           The adjustments provided for herein are cumulative and shall apply
(without duplication) to successive Share Reorganizations or other events
resulting in any adjustment under the provisions of Section 13; provided that,
notwithstanding any other provision of this Section 13, no adjustment shall be
made in the number of Common Shares which may be acquired on the exercise hereof
unless it would result in a change of at least one-hundredth of a Common Share
(provided, however, that any adjustments which by reason of this Section are not
required to be made shall be carried forward and taken into account in any
subsequent adjustment).

           As a condition precedent to the taking of any action which would
require an adjustment pursuant to Section 13, the Company shall take any action
which may, in the opinion of counsel, be necessary in order that the Company may
validly and legally issue as fully paid and non-assessable all Common Shares
which the Holder is entitled to receive on the full exercise hereof in
accordance with the provisions hereof.

15.        OFFICER'S CERTIFICATE
           Whenever the Exchange Number shall be adjusted as required by the
provisions of the foregoing Section 13, the Company shall forthwith file in the
custody of its Secretary or an Assistant Secretary at its Principal Office, a
duly executed officer's certificate showing the adjusted Exchange Number
determined as herein provided, setting forth in reasonable detail the facts
requiring such adjustment, including a statement of the number of related
additional Common Shares, if any, and such other facts as shall be necessary to
show the reason for and the manner of computing such adjustment. Each such
officer's certificate shall be made available at all reasonable times for
inspection by the Holder or any holder of a Warrant and the Company shall,
forthwith after each such adjustment, mail a copy by certified mail of such
officer's certificate to the Holder or any such holder of Warrants.

                                      -10-
<PAGE>

16.        NOTICES TO WARRANT HOLDERS
           So long as this Warrant shall be outstanding, (i) if the Company
shall pay any dividend or make any distribution upon the Common Shares or (ii)
if the Company shall offer to the holders of Common Shares for subscription or
purchase by them any share of any class or any other rights, options or warrants
(other than this Warrant) or (iii) if a capital reorganization of the Company,
reclassification of the share structure of the Company, consolidation or merger
of the Company with or into another corporation, sale, lease or transfer of all
or substantially all of the property and assets of the Company to another
corporation, or voluntary or involuntary dissolution, liquidation or winding up
of the Company shall be effected, then in any such case, the Company shall cause
to be mailed by certified mail to the Holder at the address noted on page 1 of
this Warrant Certificate, at least fifteen (15) days prior to the date
specified, as the case may be, a notice containing a brief description of the
proposed action and stating the date on which a record date is to be determined
for the purpose of such dividend, distribution or issue of rights, options, or
warrants or the effective date of such reclassification, reorganization,
consolidation, merger, conveyance, lease, dissolution, liquidation or winding up
is to take place and the date, if any is to be fixed as of which the holders of
Common Shares or other securities shall receive cash or other property
deliverable upon dividend, distribution or issue of rights, options, or warrants
or the effective date of such reclassification, reorganization, consolidation,
merger, conveyance, dissolution, liquidation or winding up.

17.        RECLASSIFICATION, REORGANIZATION OR MERGER
           In case of any reclassification, capital reorganization or other
change of outstanding shares of the Company, or in case of any consolidation or
merger of the Company with or into another corporation (other than a merger with
a subsidiary in which merger the Company is the continuing corporation and that
does not result in any reclassification, capital reorganization or other change
of outstanding shares of Common Shares) or in case of any substantial sale,
lease or conveyance to another corporation of the property of the Company, the
Company shall, as a condition precedent to such transaction, cause effective
provisions to be made so that the Holder shall have the right thereafter, by
exercising this Warrant at any time prior to the Expiry Time, to purchase the
kind and amount of shares and other securities and property receivable upon such
reclassification, capital reorganization and other change, consolidation,
merger, sale or conveyance by a holder of such number of Common Shares that
might have been purchased upon exercise of this Warrant immediately prior to
such reclassification, change, consolidation, merger, sale or conveyance. Any
such provision shall include provision for adjustments that shall be as nearly
equivalent as may be practicable to the adjustments provided for in this Warrant
Certificate. The foregoing provisions of this Section 16 shall similarly apply
to successive reclassifications, capital reorganizations and changes of Common
Shares and to successive consolidations, mergers, sales or conveyances. In the
event that in connection with any such capital reorganization or
reclassification, consolidation, merger, sale or conveyance, additional Common
Shares shall be issued in exchange, conversion, substitution or payment, in
whole or in part, for a security of the Company other than Common Shares, any
such issue shall be treated as an issue of Common Shares covered by the
provisions of Subsection (a) of Section 13 hereof.

                                      -11-
<PAGE>

18.        EXTRAORDINARY RESOLUTION
           The Holders of Warrants shall have the power from time to time by an
extraordinary resolution (as hereinafter defined):
                    (a) to sanction any modification, abrogation, alteration or
compromise of the rights of the Holders of Warrants against the Company which
shall be agreed to by the Company; and/or
                    (b) to assent to any modification of or change in or
omission from the provisions contained herein or in any instrument ancillary or
supplemental hereto which shall be agreed to by the Company; and/or
                    (c) to restrain any Holder of a Warrant from taking or
instituting any suit or proceedings against the Company for the enforcement of
any of the covenants on the part of the Company conferred upon the Holders by
the terms of the Warrants.

           Any such extraordinary resolution as aforesaid shall be binding upon
all the Holders of Warrants whether or not assenting in writing to any such
extraordinary resolution, and each Holder of any of the Warrants shall be bound
to give effect thereto accordingly. Such extraordinary resolution shall, where
applicable, be binding on the Company which shall give effect thereto
accordingly. The Company shall forthwith upon receipt of an extraordinary
resolution provide notice to all Holders of the date and text of such
resolution. The Holders of Warrants assenting to an extraordinary resolution
agree to provide the Company forthwith with a copy of any extraordinary
resolution passed.

           The expression "extraordinary resolution" when used herein shall mean
a resolution assented to in writing, in one or more counterparts, by the Holders
of Warrants calling in the aggregate for not less than sixty-six and two-thirds
per cent (66-2/3%) of the aggregate number of Common Shares called for by all of
the Warrants which are, at the applicable time, outstanding.

19.        WARRANTS TO RANK PARI PASSU
           All Warrants shall rank pari passu, whatever may be the actual date
of issue of the same.

20.        GOVERNING LAW; JURISDICTION AND VENUE
           This Warrant shall be governed by and interpreted in accordance with
the laws of the Province of Ontario and the laws of Canada applicable therein
and the courts of the Province of Ontario, Canada, shall have exclusive
jurisdiction and venue for the adjudication of any civil action arising out of
or relating to this Warrant Certificate.

21.        GENERAL PROVISIONS
           (a) All payments and communications which may be or are required to
be given hereunder shall be in writing and either (a) delivered personally, (b)
sent by prepaid courier service or (c) sent by telecopier or other similar means
of electronic communication to the Holder, at its address set out herein, or to
the Company, to the attention of the President, at the Principal Office of the
Company, as the case may be. Any such notice so given shall be deemed
conclusively to have been given and received when so personally delivered,
delivered by prepaid courier service or sent by telecopier or other electronic
communication (provided receipt is confirmed by telephone), unless delivered or
sent on a day which is not a Business Day or after 5:00 p.m., in which case such
notice shall be deemed conclusively to have been given and received on the next
following Business Day.

                                      -12-
<PAGE>

           (b)       Time shall be of the essence hereof.
           (c) This Warrant shall enure to the benefit of the Holder and its
successors and permitted assigns and be binding upon the Company and its
successors and assigns.

IN WITNESS WHEREOF Tengtu International Corp. has caused this Special Warrant
Certificate to be signed by its officer duly authorized in that behalf as of
_____________,2002.

TENGTU INTERNATIONAL CORP.

PER: __________________________________
           AUTHORIZED SIGNING OFFICER

                                      -13-
<PAGE>

SCHEDULE "A"
EXERCISE FORM
TO:        TENGTU INTERNATIONAL CORP.

The undersigned hereby certifies that the undersigned is a resident of the
Province/State of _________________ and irrevocably exercises
____________________ of the Special Warrants represented hereby and the right
provided for in such exercised Special Warrants to receive _________ Common
Shares and ________ Common Share Purchase Warrants of TENGTU INTERNATIONAL CORP.
in accordance with the terms of the Special Warrant Certificate. If any of the
Common Shares and Common Share Purchase Warrants are to be issued to a person or
persons other than the holder, the holder must pay to the Company all requisite
stamp or security transfer taxes or other governmental charges related thereto
and the signature below of the holder must be guaranteed, whose signature must
be on file with the Company. Such securities are to be issued as follows:
NAME:
(PRINT CLEARLY)
ADDRESS IN FULL:
------------------------------------------------------------------------------
Further Special Warrants required for the balance of the Common Shares and
Common Share Purchase Warrants which may be acquired are to be issued as
follows:

NAME:
(PRINT CLEARLY)
ADDRESS IN FULL:

DATED this           day of                         , __________ .
Signature Guarantee
Eligible Institution:                               PRINT NAME OF WARRANTHOLDER

                     SIGNATURE OF WARRANTHOLDER

ADDRESS OF WARRANTHOLDER

Note: (1) The signature of the registered holder must correspond with the name
as written upon the face of the Special Warrant in every particular without
alteration or any change whatsoever.

Note: (2) Common Shares and Special Warrants and Common Share Purchase Warrants
will be issued in the name of the registered holder as it appears on the Special
Warrant register unless otherwise specified.

           A guarantee of signature may be given by any Canadian chartered bank
or a major Canadian trust company or by a Medallion signature guarantee from a
member of a recognized signature Medallion guarantee program.

                                      -14-
<PAGE>

SCHEDULE "B"
TRANSFER OF SPECIAL WARRANTS
FOR VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto
______________________________________, _______________ Special Warrants of
TENGTU INTERNATIONAL CORP. (the "Company") registered in the name of the
undersigned on the register of the Company maintained therefor and represented
by the within certificate, and hereby irrevocably appoints
__________________________________ the attorney of the undersigned to transfer
the said securities on the books of the Company with full power of substitution.
Dated the          day of _________________, _________.
Signature of Transferor guaranteed by:

ELIGIBLE INSTITUTION:                     PRINT NAME OF TRANSFEROR

                     SIGNATURE OF TRANSFEROR

                     ADDRESS OF TRANSFEROR

(Note: The signature to this transfer must correspond with the name written upon
the face of this Special Warrant Certificate in every particular without any
changes whatsoever.) A guarantee of signature may be given by any Canadian
chartered bank or a major Canadian trust company or by a Medallion signature
guarantee from a member of a recognized signature Medallion guarantee program.

SCHEDULE "C"

FORM OF COMMON SHARE PURCHASE WARRANT

                                      -15-
<PAGE>

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