Document:

<PAGE>

                                                                   Exhibit 10.21

                            Schedule to Exhibit 10.21

         Pursuant to Instruction 2 to Item 601 of Regulation S-K under the
Securities Act of 1933, as amended, the following is a schedule of documents
substantially identical in all material respects except as to the parties
thereto, the dates of execution, or other material details from the document
filed as Exhibit 10.21.

Exhibit 10.21 Filed

Agreement:        Share Pledge Agreement
Date:             September 26, 2003
Pledgee:          Beijing Super Channel Network Limited
Pledgor:          Wang Lei Lei
Pledged asset:    Pledgor's 20% equity interest in Beijing Lei Ting Wan Jun
                  Network Technology Limited

Agreements Substantially Identical to Exhibit 10.21 and Omitted

Agreement:        Share Pledge Agreement
Date:             September 26, 2003
Pledgee:          Beijing Super Channel Network Limited
Pledgor:          Wang Xiu Ling
Pledged asset:    Pledgor's 70% equity interest in Beijing Lei Ting Wan Jun
                  Network Technology Limited

Agreement:        Share Pledge Agreement
Date:             September 26, 2003
Pledgee:          Beijing Super Channel Network Limited
Pledgor:          Sheng Yong
Pledged asset:    Pledgor's 30% equity interest in Beijing Lei Ting Wan Jun
                  Network Technology Limited

Agreement:        Share Pledge Agreement
Date:             November 19, 2003
Pledgee:          Puccini Network Technology (Beijing) Limited
Pledgor:          Wang Lei Lei
Pledged asset:    Pledgor's 80% equity interest in Beijing Lei Ting Wu Ji
                  Network Technology Limited

Agreement:        Share Pledge Agreement
Date:             November 19, 2003
Pledgee:          Puccini Network Technology (Beijing) Limited
Pledgor:          Wang Xiu Ling
Pledged asset:    Pledgor's 20% equity interest in Beijing Lei Ting Wu Ji
                  Network Technology Limited

                                                                               1

<PAGE>

[Translation of Chinese original]

                             Share Pledge Agreement

This Share Pledge Agreement is entered into on September 26, 2003 in Beijing by
and between the following parties:

Pledgee:       Beijing Super Channel Network Limited
Address:       Room F09 2/F Yongchangbeilu Road, 3 Beijing Economic and
               Technology Development Area

Pledgor:       Wang Lei Lei
Gender:        Male
Identity Code: 110102197304020437
Address:       Room 1001 Building 1, Xiaoyangyibin Hutong Bystreet,, Dong Cheng
               District, Beijing

WHEREAS,

1.   Wang Lei Lei, the Pledgor, is a citizen of the People's Republic of China
     ("PRC"). The Pledgor owns 20% equity interest in Beijing Lei Ting Wan Jun
     Network Technology Ltd ("Lei Ting Company"). Lei Ting Company is a limited
     liability company registered in Beijing engaging in the business of
     Internet information provision services.

2.   The Pledgee, a wholly foreign-owned company registered in Beijing, PRC, has
     been licensed by the PRC relevant government authority to carry on the
     business of Internet technical services. The Pledgee and the Pledgor-owned
     Lei Ting Company enter into an Exclusive Technical Consulting and Services
     Agreement (the " Service Agreement") on September 26, 2003.

3.   In order to make sure that the Pledgee collect technical service fees as
     normal from Lei Ting Company, the Pledgor is willing to pledge all his
     equity interest in Lei Ting Company to the Pledgee as a security for the
     Pledgee to collect technical consulting and service fees under the Service
     Agreement.

     In order to define each Party's rights and obligations, the Pledgee and the
     Pledgor through mutual negotiations hereby enter into this Agreement based
     upon the following terms:

1.   Definitions And Interpretations

Unless otherwise provided in this Agreement, the following terms shall have the
following meanings:

                                                                               2

<PAGE>

     1.1  Pledge means the full content of Article 2 hereunder

     1.2  Equity Interest means all his 20% equity interests in Lei Ting Company
          legally held by the Pledgor.

     1.3  Rate of Pledge means the ratio between the value of the pledge under
          this Agreement and the exclusive technical consulting and service fees
          under the Service Agreement.

     1.4  Term of Pledge means the period provided for under Article 3.2
          hereunder.

     1.5  Service Agreement means the Exclusive Technical Consulting and Service
          Agreement entered into by and between Lei Ting Company and the Pledgee
          on September 26, 2003.

     1.6  Event of Default means any event in accordance with Article 7
          hereunder.

     1.7  Notice of Default means the notice of default issued by the Pledgee in
          accordance with this Agreement.

2.   Assignment And Pledge

     2.1  The Pledgor agrees to pledge all his equity interest in Lei Ting
          Company to the Pledgee. Pledge under this Agreement refers to the
          rights owned by the Pledgee who shall be entitled to have priority in
          receiving payment by the evaluation or proceeds from the auction or
          sale of the share pledged by the Pledgor to the Pledgee.

3.   Rate Of Pledge And Term Of Pledge

     3.1  The rate of Pledge

          3.1.1  The rate of pledge shall be 100%

     3.2  The term of Pledge

          3.2.1  The Pledge shall take effect as of the date when the equity
                 interests under this Agreement are recorded in the Register of
                 Shareholder of Lei Ting Company and registered with the
                 competent Administration for Industry and Commerce. The term of
                 the Pledge is the same with the term of Service Agreement.

          3.2.2  During the Pledge, the Pledgor shall be entitled to dispose the

                                                                               3

<PAGE>

                 Pledge in accordance with this Agreement in the event that Lei
                 Ting Company fails to pay exclusive technical consulting and
                 service fee in accordance with the Service Agreement.

4.   Physical Possession Of Documents

     4.1  During the term of Pledge under this Agreement, the Pledgor shall
          deliver the physical possession of the Certificate of Distribution and
          the Name List of Shareholder of Lei Ting Company to the Pledgee within
          one week as of the date of conclusion of this Agreement.

     4.2  The Pledgee shall be entitled to collect the dividends from the equity
          interests.

5.   Warranties And Representation Of The Pledgor

     5.1  The Pledgor is the legal owner of the equity interests.

     5.2  The Pledgee shall not be interfered by any other pledgee at any time
          once Party exercises the rights of the Pledgee in accordance with this
          Agreement.

     5.3  The Pledgee shall be entitled to dispose or assign the pledge in
          accordance with this Agreement.

     5.4  The Pledgor does not pledge or encumber the equity interests to any
          other person except for the Pledgee.

6.   Covenant Of The Pledgor

     6.1  During the effective term of this Agreement, the Pledgor covenants to
          the Pledgee that the Pledgor shall:

          6.1.1  Except the transfer of equity interest, as subject to the
                 Exclusive Purchase Right Contract entered into among the
                 Pledgor, Lahiji Vale Limited (hereinafter referred to "LAHIJI")
                 and Lei Ting Company on September 26, 2003, to LAHIJI or the
                 person designated by LAHIJI, not transfer or assign the equity
                 interests, create or permit to create any pledges which may
                 have an adverse effect on the rights or benefits of the Pledgee
                 without prior written consent from the Pledgee;

          6.1.2  comply with and implement laws and regulations with respect to
                 the pledge of rights, present to the Pledgee the notices,
                 orders or suggestions with respect to the Pledge issued or made
                 by the

                                                                               4

<PAGE>

                 competent authority within five days upon receiving such
                 notices, orders or suggestions and comply with such notices,
                 orders or suggestions, or object to the foregoing matters at
                 the reasonable request of the Pledgee or with consent from the
                 Pledgee.

          6.1.3  timely notify the Pledgee of any events or any received notices
                 which may affect the Pledgor's equity interest or any part of
                 its right, and any events or any received notices which may
                 change the Pledgor's any covenant and obligation under this
                 Agreement or which may affect the Pledgor's performance of its
                 obligations under this Agreement.

     6.2  The Pledgor agrees that the Pledgee's right of exercising the Pledge
          obtained from this Agreement shall not be suspended or hampered
          through legal procedure by the Pledgor or any successors of the
          Pledgor or any person authorized by the Pledgor or any other person.

     6.3  The Pledgor warrants to the Pledgee that in order to protect or
          perfect the security over the payment of the technical consulting and
          service fees under the Service Agreement, the Pledgor shall execute in
          good faith and cause other parties who have interests in the pledge to
          execute all the title certificates, contracts, and or perform and
          cause other parties who have interests to take action as required by
          the Pledgee and make access to exercise the rights and authorization
          vested in the Pledgee under this Agreement, and execute all the
          documents with respect to the changes of certificate of equity
          interests with the Pledgee or a person (natural person or legal
          entity) designated by the Pledgee, and provides all the notices,
          orders and decisions regarded as necessary by the Pledgee with the
          Pledgee within the reasonable time.

     6.4  The Pledgor warrants to the Pledgee that the Pledgor will comply with
          and perform all the guarantees, covenants, agreements, representations
          and conditions for the benefits of the Pledgee. The Pledgor shall
          compensate for all the losses suffered by the Pledgee for the reasons
          that the Pledgor does not perform or fully perform their guarantees,
          covenants, agreements, representations and conditions.

7.   Event Of Default

     7.1  The following events shall be regarded as an event of default:

          7.1.1  Lei Ting Company fails to make full payment of the exclusive
                 technical consulting and service fees as scheduled under the
                 Service Agreement;

                                                                               5

<PAGE>

          7.1.2  The Pledgor makes any material misleading or fraudulent
                 representations or warranties under Article 5 herein, and/or
                 the Pledgor is in violation of any warranties under Article 5
                 herein;

          7.1.3  The Pledgor violates the covenants under Article 6 herein;

          7.1.4  The Pledgor violates any terms and conditions herein;

          7.1.5  The Pledgor waives the pledged equity interests or transfers or
                 assigns the pledged equity interests without prior written
                 consent from the Pledgee;

          7.1.6  The Pledgor's any external loan, security, compensation,
                 covenants or any other compensation liabilities (1) are
                 required to be repaid or performed prior to the scheduled date;
                 or (2) are due but can not be repaid or performed as scheduled
                 and thereby cause the Pledgee to deem that the Pledgor's
                 capacity to perform the obligations herein is affected;

          7.1.7  The Pledgor is incapable of repaying the general debt or other
                 debt;

          7.1.8  This Agreement is illegal for the reason of the promulgation of
                 any related laws or the Pledgor's incapability of continuing to
                 perform the obligations herein;

          7.1.9  Any approval, permits, licenses or authorization from the
                 competent authority of the government needed to perform this
                 Agreement or validate this Agreement are withdrawn, suspended,
                 invalidated or materially amended;

          7.1.10 The property of the Pledgor is adversely changed and cause the
                 Pledgee to deem that the capability of the Pledgor to perform
                 the obligations herein is affected;

          7.1.11 The successors or assignees of the Pledgor are only entitled to
                 perform a portion of or refuse to perform the payment liability
                 under the Service Agreement;

          7.1.12 Other circumstances whereby the Pledgee is incapable of
                 exercising the right to dispose the Pledge in accordance with
                 the related laws.

     7.2  The Pledgor shall immediately give a written notice to the Pledgee if
          the Pledgor is aware of or find that any event under Article 7.1
          herein or any

                                                                               6

<PAGE>

          events that may result in the foregoing events have happened or is
          going on.

     7.3  Unless the event of default under Article 7.1 herein has been solved
          to the Pledgee's satisfaction, the Pledgee, at any time when the event
          of default happens or thereafter, may give a written notice of default
          to the Pledgor and require the Pledgor to immediately make full
          payment of the outstanding service feess under the Service Agreement
          and other payables or dispose the Pledge in accordance with Article 8
          herein.

8.   Exercise Of The Right Of The Pledge

     8.1  The Pledgor shall not transfer or assign the pledge without prior
          written approval from the Pledgee prior to the full repayment of the
          consulting and service fee under the Service Agreement.

     8.2  The Pledgee shall give a notice of default to the Pledgor when the
          Pledgee exercises the right of pledge.

     8.3  Subject to Article 7.3, the Pledgee may exercise the right to dispose
          the Pledge at any time when the Pledgee gives a notice of default in
          accordance with Article 7.3 or thereafter.

     8.4  The Pledgee is entitled to have priority in receiving payment by the
          evaluation or proceeds from the auction or sale of whole or part of
          the share pledged herein in accordance with legal procedure until the
          outstanding consulting and service fees and all other payables under
          the Service Agreement are repaid.

     8.5  The Pledgor shall not hinder the Pledgee from disposing the Pledge in
          accordance with this Agreement and shall give necessary assistance so
          that the Pledgee could realize his Pledge.

9.   Transfer Or Assignment

     9.1  The Pledgor shall not donate or transfer his rights and obligations
          herein without prior consent from the Pledgee.

     9.2  This Agreement shall be binding upon the Pledgor and his successors
          and be effective to the Pledgee and his each successor and assignee.

     9.3  The Pledgee may transfer or assign his all or any rights and
          obligations under the Service Agreement to any individual (natural
          person or legal entity) at any time. In this case, the assignee shall
          enjoy and undertake the same rights and obligations herein of the
          Pledgee as if the assignee is a

                                                                               7

<PAGE>

          party hereto. When the Pledgee transfers or assigns the rights and
          obligations under the Service Agreement, at the request of the
          Pledgee, the Pledgor shall execute the relevant agreements and/or
          documents with respect to such transfer or assignment.

     9.4  After the Pledgee's change resulting from the transfer or assignment,
          the new parties to the pledge shall reexecute a pledge contract.

10.  Termination

This Agreement shall not be terminated until the consulting and service fees
under the Service Agreement are paid off and the Lei Ting Company will not
undertake any obligations under the Service Agreement any more, and the Pledgee
shall cancel or terminate this Agreement within reasonable time as soon as
practicable.

11.  Fees And Other Charges

     11.1 The Pledgor shall be responsible for all the fees and actual
          expenditures in relation to this Agreement including but not limited
          to legal fees, cost of production, stamp tax and any other taxes and
          charges. If the Pledgee pays the relevant taxes in accordance with the
          laws, the Pledgor shall fully indemnify such taxes paid by the
          Pledgee.

     11.2 The Pledgor shall be responsible for all the fees (including but not
          limited to any taxes, formalities fees, management fees, litigation
          fees, attorney's fees, and various insurance premiums in connection
          with disposition of Pledge) incurred by the Pledgor for the reason
          that (1) The Pledgor fails to pay any payable taxes, fees or charges
          in accordance with this Agreement; or (2) The Pledgee has recourse to
          any foregoing taxes, charges or fees by any means for other reasons.

12.  Force Majeure

     12.1 If this Agreement is delayed in or prevented from performing in the
          Event of Force Majeure ("Event of Force Majeure"), only within the
          limitation of such delay or prevention, the affected party is absolved
          from any liability under this Agreement. Force Majeure, which includes
          acts of governments, acts of nature, fire, explosion, typhoon, flood,
          earthquake, tide, lightning, war, means any unforeseen events beyond
          the prevented party's reasonable control and cannot be prevented with
          reasonable care. However, any shortage of credit, capital or finance
          shall not be regarded as an event beyond a Party's reasonable control.
          The Party affected by Force Majeure who claims for exemption from
          performing any obligations under this

                                                                               8

<PAGE>

          Agreement or under any Article herein shall notify the other party of
          such exemption promptly and advice him of the steps to be taken for
          completion of the performance.

     12.2 The Pledgeeffected by Force Majeure shall not assume any liability
          under this Agreement. However, subject to the Party affected by Force
          Majeure having taken its reasonable and practicable efforts to perform
          this Agreement, the Party claiming for exemption of the liabilities
          may only be exempted from performing such liability as within
          limitation of the part performance delayed or prevented by Force
          Majeure. Once causes for such exemption of liabilities are rectified
          and remedied, both parties agree to resume performance of this
          Agreement with their best efforts.

13.  Dispute Resolution

     13.1 This Agreement shall be governed by and construed in accordance with
          the PRC law.

     13.2 The parties shall strive to settle any dispute arising from the
          interpretation or performance, or in connection with this Agreement
          through friendly consultation. In case no settlement can be reached
          through consultation, each party can submit such matter to China
          International Economic and Trade Arbitration Commission ("CIETAC") for
          arbitration. The arbitration shall follow the current rules of CIETAC,
          and the arbitration proceedings shall be conducted in Chinese and
          shall take place in Beijing. The arbitration award shall be final and
          binding upon the parties.

14.  Notice

     14.1 Any notice which is given by the parties hereto for the purpose of
          performing the rights, duties and obligations hereunder shall be in
          writing. Where such notice is delivered personally, the time of notice
          is the time when such notice actually reaches the addressee; where
          such notice is transmitted by telex or facsimile, the notice time is
          the time when such notice is transmitted. If such notice does not
          reach the addressee on business date or reaches the addressee after
          the business time, the next business day following such day is the
          date of notice. The delivery place is the address first written above
          of the parties hereto or the address advised in writing including
          facsimile and telex from time to time.

15.  Appendices

     15.1 The appendices to this Agreement are entire and integral part of this
          Agreement.

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<PAGE>

16.  Effectiveness

     16.1 This agreement and any amendments, modification, supplements,
          additions or changes hereto shall be in writing and come into effect
          upon being executed and sealed by the parties hereto.

     16.2 This Agreement is written in Chinese and is executed in two
          counterparts.

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<PAGE>

     (No text on this page)

Pledgee: Beijing Super Channel Network Limited

Authorized Representative: __________________

Pledgor: Wang Lei Lei

_________________(Signature)

                                                                              10

<PAGE>

EXHIBIT A

1.   Register of Shareholders of Beijing Lei Ting Wan Jun Network Technology
     Ltd.

2.   Certificate of Capital Contribution of Beijing Lei Ting Wan Jun Network
     Technology Ltd.

3.   Exclusive Technical Consulting and Services Agreement

                                                                              11<PAGE>

                                                                   Exhibit 10.22

[Translation of Chinese original]

                      Assignment of Share Pledge Agreement

This Assignment of Share Pledge Agreement (The "Agreement") is entered into on
the day of September 26, 2003 in Beijing by and among the following parties:

Party A:          Beijing Super Channel Network Limited
Address:          Room F09, 2/nd/ floor, Yong Chang North Road No.3, Beijing
                  Economic and Technology Development Area

Party B:          Wang Xiu Ling
Gender:           Female
PRC Passport No.: PCHN143637106
Address:          Room 3-101, Floor 7, Wushengdongli, Chaoyang District, Beijing

Party C:          LAVHIJI VALE LIMITED
Address:          Offshore Incorporations Limited, P.O. Box 957, Offshore
                  Incorporations Center, Road Town, Tortola, British Virgin
                  Islands.

WHEREAS,

1.   Party B is the citizen of the People's Republic of China ("PRC) and owns
     80% of the equity interest in Beijing Lei Ting Wan Jun Network Technology
     Ltd (the " Lei Ting Company"). Lei Ting Company is a limited liability
     company registered in Beijing under the laws of the PRC.

2.   Party C is a limited liability company registered in British Virgin
     Islands.

3.   Party B and Party C have entered into a Loan Agreement, pursuant to which
     Party C shall provide a long-term loan to Party B in meeting Lei Ting
     Company's capital demands for its business development. Furthermore, Party
     B and Party C have entered into a Share Option Agreement, pursuant to which
     Party B agrees to grant Party A the exclusive right to purchase 80% of the
     equity interest of Lei Ting Company held by Party B on the premise that the
     PRC law permits. (the "Share Option") In order to ensure Party B's
     performance of its obligations under the Loan Agreement and the Share
     Option Agreement aforesaid, Party B and Party C entered into Share Pledge
     Agreement (the "Original Pledge Agreement") on August 8, 2002, pursuant to
     which Party B pledged all its 80% equity interest in Lei Ting Company to
     Party C.

4.   Party A, a wholly foreign-owned company registered in Beijing under the
     laws of the PRC, has been licensed by the PRC relevant government authority
     to engage in the business of Internet technical service. Party A is a
     subsidiary wholly owned by Party C's affiliate company.

                                                                               1

<PAGE>

5.   Party A and Lei Ting Company enter into Exclusive Technical and Consulting
     Services Agreement (the " Service Agreement") on September 26, 2003,
     pursuant to which Party A shall provide technical support to Lei Ting
     Company and Lei Ting Company shall pay technical and consulting service
     fees to Party A as a consideration.

6.   In order to ensure Party A is collecting technical service fees from Lei
     Ting Company, Party C is willing to assign all of its pledge over the 80%
     equity interest in Lei Ting Company under the Original Pledge Agreement to
     Party A and Party B is also willing to pledge over the above share
     interest, which was originally pledged to Party C, to Party A as a security
     for Party A's collecting technical and consulting service fees under the
     Service Agreement. Party A, Party B and Party C agree to enter into this
     Agreement to replace the Original Pledge Agreement entered into by and
     between Party B and Party C.

     In order to define each Party's rights and obligations, Party A, Party B
     and Party C through mutual negotiations hereby enter into this Agreement
     based upon the following terms:

1.   Definitions And Interpretation

Unless otherwise provided in this Agreement, the following terms shall have the
following meanings:

     1.1  Pledge means the full content listed in Article 2 hereunder

     1.2  Equity Interest means all its 80% equity interests in Lei Ting Company
          legally held by Party B.

     1.3  Rate of Pledge means the ratio between the value of the pledge under
          this Agreement and the exclusive technical and consulting service fees
          under the Service Agreement.

     1.4  Term of Pledge means the period provided for under Article 3.2
          hereunder.

     1.5  Service Agreement means the Exclusive Technical and Consulting Service
          Agreement entered into by and between Lei Ting Company and Party A on
          September 26, 2003.

     1.6  Event of Default means any event listed as under Article 7 hereunder.

     1.7  Notice of Default means the notice of default issued by Party A in
          accordance with this Agreement.

                                                                               2

<PAGE>

2.   Assignment And Pledge

     2.1  Party C hereby agrees to assign all of its pledge over the 80% equity
          interest in Lei Ting Company under the Original Pledge Agreement to
          Party A and Party A hereby agrees to accept the pledge aforesaid.
          Party B also agrees to assign the pledge over the same which was
          originally pledged to Party C, to Party A (namely, Party B agrees to
          pledge all its equity interest in Lei Ting Company to Party A) as a
          security for Party A's collecting technical and consulting service
          fees under the Service Agreement.

     2.2  Pledge under this Agreement refers to the rights owned by Party A who
          shall be entitled to have priority in receiving payment by the
          evaluation or proceeds from the auction or sale of the equity
          interests pledged by Party B to Party A.

3.   Rate Of Pledge And Term Of Pledge

     3.1  The rate of Pledge

          3.1.1  The rate of pledge shall be 100%.

     3.2  The term of Pledge

          3.2.1  Pledge Contract shall take effect as of the date when the
                 equity interests under this Agreement are recorded in the
                 Register of Shareholder of Lei Ting Company and registered with
                 the competent Administration for Industry and Commerce. The
                 term of the Pledge is the same with the term of Service
                 Agreement.

          3.2.2  During the Pledge term, Party B shall be entitled to dispose
                 the Pledge in accordance with this Agreement in the event that
                 Party A fails to pay exclusive technical and consulting service
                 fee in accordance with the Service Agreement.

4.   Physical Possession Of Documents

     4.1  During the term of Pledge under this Agreement, Party B shall deliver
          the physical possession of the Certificate of Distribution and the
          Name List of Shareholder of Lei Ting Company to Party A within one
          week as of the date of conclusion of this Agreement.

     4.2  Party A shall be entitled to collect the dividends from the equity
          interests.

                                                                               3

<PAGE>

5.   Warranties and Representation of Party B

     5.1  Party B is the legal owner of the equity interests.

     5.2  Party A shall not be interfered by any other Party A at any time once
          Party exercises the rights of Party A in accordance with this
          Agreement.

     5.3  Without prejudice to Party C's Equity Interest Purchase Right, Party A
          shall be entitled to dispose or assign the pledge in accordance with
          this Agreement.

     5.4  Party B does not pledge or encumber the equity interests to any other
          person except for Party A and Party C.

6.   Covenant Of Party B

     6.1  During the effective term of this Agreement, Party B covenants to
          Party A and Party C that Party B shall:

          6.1.1  not transfer or assign the equity interests, create or permit
                 to create any pledges which may have an adverse effect on the
                 rights or benefits of the Party A without prior written consent
                 from Party A and Party C;

          6.1.2  not grant to any third party its or the similar rights in Lei
                 Ting Company, except as such share option may be granted to
                 Party C. Such granting to any third Party other than Party C by
                 Party B shall not be valid or binding;

          6.1.3  comply with and implement laws and regulations with respect to
                 the pledge of rights, present to Party A any notices, orders or
                 suggestions with respect to the Pledge issued or made by the
                 competent administration authority within five days upon
                 receiving such notices, orders or suggestions and comply with
                 such notices, orders or suggestions, or present objection and
                 opposite statement to the foregoing matters Upon Party A's
                 reasonable request of or consent.

          6.1.4  timely notify Party A of any events or any notices which may
                 affect Party B's equity interest or any part of its right, and
                 which may change Party B's any covenant and obligation under
                 this Agreement or which may affect Party B's performance of its
                 obligations under this Agreement.

                                                                               4

<PAGE>

     6.2  Party B agrees that Party A's right of exercising the Pledge obtained
          from this Agreement shall not be suspended or hampered through legal
          procedure by Party B or any successors of Party B or any person
          authorized by Party B or any other person.

     6.3  Party B warrants to Party A and Party C that in order to protect or
          perfect the security over the payment of the technical and consulting
          service fees under the Service Agreement, Party B shall execute in
          good faith and cause other parties who have interests in the pledge to
          execute all the title certificates, contracts, and or perform and
          cause other parties who have interests to take action as required by
          Party A and facilitate the exercise of the rights and authorization
          vested in Party A under this Agreement, and execute all the documents
          with respect to the changes of certificate of equity interests Party A
          or the person(natural person or legal entity) designed by Party A, and
          provides all the notices, orders and decisions regarded as necessary
          by Party A with Party A within the reasonable time.

     6.4  Party B warrants to Party A that Party B will comply with and perform
          all the guarantees, covenants, agreements, representations and
          conditions for the benefits of Party A. Party B shall compensate all
          the losses suffered by Party A for the reasons that Party B does not
          perform or fully perform their guarantees, covenants, agreements,
          representations and conditions.

7.   Event Of Default

     7.1  The following events shall be regarded as the event of default:

          7.1.1  Lei Ting Company fails to make full payment of the exclusive
                 technical consulting and service fees as scheduled under the
                 Service Agreement;

          7.1.2  Party B makes any material misleading or fraudulent
                 representations or warranties under Article 5 herein, and/or
                 Party B is in violation of any warranties under Article 5
                 herein;

          7.1.3  Party B violates the covenants under Article 6 herein;

          7.1.4  Party B violates any terms and conditions herein;

          7.1.5  Party B waives the pledged equity interests or transfers or
                 assigns the pledged equity interests without prior written
                 consent from Party A, except as provided in Article 6.1.1;

          7.1.6  Party B's any external loan, security, compensation, covenants
                 or

                                                                               5

<PAGE>

                 any other compensation liabilities (1) are required to be
                 repaid or performed prior to the scheduled date; or (2) are due
                 but can not be repaid or performed as scheduled and thereby
                 cause Party A to deem that Party B's capacity to perform the
                 obligations herein is affected;

          7.1.7  Party B is incapable of repaying the general debt or other
                 debt;

          7.1.8  This Agreement becomes illegal for the reason of the
                 promulgation of the related laws or Party B becomes incapable
                 of continuing to perform the obligations herein;

          7.1.9  Any approval, permit, license or authorization from the
                 competent authority of the government necessary to perform this
                 Agreement or validate this Agreement is withdrawn, suspended,
                 invalidated or materially amended;

          7.1.10 The property of Party B is adversely changed and cause Party A
                 deem that the capability of Party B to perform the obligations
                 herein is affected;

          7.1.11 The successors or assignees of Party B are only capable to
                 perform a portion of or refuse to perform the payment liability
                 under the Service Agreement;

          7.1.12 Other circumstances whereby Party A is incapable of exercising
                 the right to dispose the Pledge in accordance with the related
                 laws.

     7.2  Party B shall immediately give a written notice to Party A if Party B
          comes to the truth that any event under Article 7.1 herein or any
          events that may result in the foregoing events have happened or is
          going on.

     7.3  Unless the event of default under Article 7.1 herein has been solved
          to Party A's satisfaction, Party A, at any time when the event of
          default happens or thereafter, may give a written notice of default to
          Party B and require Party B to promptly make full payment of the
          outstanding service fees under the Service Agreement and other
          payables or dispose the Pledge in accordance with Article 8 herein.

8.   Exercise of The Right of The Pledge

     8.1  Party B shall not transfer or assign the pledge without prior written
          approval from Party A prior to the full repayment of the consulting
          and service fee under the Service Agreement.

                                                                               6

<PAGE>

     8.2  Party A shall give a notice of default to Party B when Party A
          exercises the right of pledge.

     8.3  Subject to Article 7.3, Party A may exercise the right to dispose the
          Pledge at any time when Party A gives a notice of default in
          accordance with Article 7.3 or thereafter.

     8.4  Party A is entitled to have priority in receiving payment by the
          evaluation or proceeds from the auction or sale of whole or part of
          the equity interests pledged herein in accordance with legal procedure
          until the outstanding consulting and service fees and all other
          payables under the Service Agreement are repaid.

     8.5  Party B shall not hinder Party A from disposing the Pledge in
          accordance with this Agreement and shall give necessary assistance so
          that Party A could realize his Pledge.

9.   Transfer Or Assignment

     9.1  Party B shall not donate or transfer his rights and obligations herein
          without prior consent from Party A.

     9.2  This Agreement shall be binding upon Party B and his successors and be
          effective to Party A and each of his successor and assignee.

     9.3  Party A may transfer or assign his all or any rights and obligations
          under the Service Agreement to any individual (natural person or legal
          entity) at any time. In this case, the assignee shall enjoy and
          undertake the same rights and obligations herein of Party A as if the
          assignee is a party hereto. When Party A transfers or assigns the
          rights and obligations under the Service Agreement, at the request of
          Party A, Party B shall execute the relevant agreements and/or
          documents with respect to such transfer or assignment.

     9.4  After Party A's change resulting from the transfer or assignment, the
          new parties to the pledge shall reexecute a pledge contract.

10.  Termination

This Agreement shall not be terminated until the consulting and service fees
under the Service Agreement are paid off and the Lei Ting Company will not
undertake any obligations under the Service Agreement any more, and Party A
shall cancel or terminate this Agreement within reasonable time as soon as
practicable.

11.  Formalities Fees And Other Charges

                                                                               7

<PAGE>

     11.1 Party B shall be responsible for all the fees and actual expenditures
          in relation to this Agreement including but not limited to legal fees,
          cost of production, stamp tax and any other taxes and charges. If
          Party A pays the relevant taxes in accordance with the laws, Party B
          shall fully indemnify such taxes paid by Party A.

     11.2 Party B shall be responsible for all the fees (including but not
          limited to any taxes, formalities fees, management fees, litigation
          fees, attorney's fees, and various insurance premiums in connection
          with disposition of Pledge) incurred by Party B for the reason that
          (1) Party B fails to pay any payable taxes, fees or charges in
          accordance with this Agreement; or (2) Party A has recourse to any
          foregoing taxes, charges or fees by any means for other reasons.

12.  Force Majeure

     12.1 If this Agreement is delayed in or prevented from performing in the
          Event of Force Majeure ("Event of Force Majeure"), only within the
          limitation of such delay or prevention, the affected party is absolved
          from any liability under this Agreement. Force Majeure, which includes
          acts of governments, acts of nature, fire, explosion, typhoon, flood,
          earthquake, tide, lightning, war, means any unforeseen events beyond
          the prevented party's reasonable control and cannot be prevented with
          reasonable care. However, any shortage of credit, capital or finance
          shall not be regarded as an event beyond a Party's reasonable control.
          Party affected by Force Majeure who claims for exemption from
          performing any obligations under this Agreement or under any Article
          herein shall notify the other party of such exemption promptly and
          advice him of the steps to be taken for completion of the performance.

     12.2 Party affected by Force Majeure shall not assume any liability under
          this Agreement. However, subject to Party affected by Force Majeure
          having taken its reasonable and practicable efforts to perform this
          Agreement, Party claiming for exemption of the liabilities may only be
          exempted from performing such liability as within limitation of the
          part performance delayed or prevented by Force Majeure. Once causes
          for such exemption of liabilities are rectified and remedied, both
          parties agree to resume performance of this Agreement with their best
          efforts.

13.  Dispute Resolution

     13.1 This Agreement shall be governed by and construed in accordance with
          the

                                                                               8

<PAGE>

          PRC law.

     13.2 The parties shall strive to settle any dispute arising from the
          interpretation or performance, or in connection with this Agreement
          through friendly consultation. In case no settlement can be reached
          through consultation, each party can submit such matter to China
          International Economic and Trade Arbitration Commission ("CIETAC") for
          arbitration. The arbitration shall follow the current rules of CIETAC,
          and the arbitration proceedings shall be conducted in Chinese and
          shall take place in Beijing. The arbitration award shall be final and
          binding upon the parties.

14.  Notice

     14.1 Any notice which is given by the parties hereto for the purpose of
          performing the rights, duties and obligations hereunder shall be in
          writing. Where such notice is delivered personally, the time of notice
          is the time when such notice actually reaches the addressee; where
          such notice is transmitted by telex or facsimile, the notice time is
          the time when such notice is transmitted. If such notice does not
          reach the addressee on business date or reaches the addressee after
          the business time, the next business day following such day is the
          date of notice. The delivery place is the address first written above
          of the parties hereto or the address advised in writing including
          facsimile and telex from time to time.

15.  Appendices

     15.1 The appendices to this Agreement are entire and integral part of this
          Agreement.

16.  Effectiveness

     16.1 This agreement and any amendments, modification, supplements,
          additions or changes hereto shall be in writing and come into effect
          upon being executed and sealed by the parties hereto.

     16.2 Equity Interest Pledge Agreement entered into by and between Party B
          and Party C as of August 8, 2002 shall be terminated upon this
          Agreement coming into effect.

     16.3 This Agreement is written in Chinese and is executed in three
          counterparts.

                                                                               9

<PAGE>

     (No text on this page)

Party A: Beijing Super Channel Network Limited

Authorized Representative:___________________

Party B: Wang Xiu Ling

_________________(Signature)

Party C: LAHIJI VALE LIMITED

Authorized Representative:____________________

                                                                              10

<PAGE>

EXHIBIT A

1.   Register of Shareholders of Beijing Lei Ting Wan Jun Network Technology
     Ltd.

2.   Certificate of Capital Contribution of Beijing Lei Ting Wan Jun Network
     Technology Ltd.

3.   Exclusive Technical and Consulting Services Agreement

                                                                              11

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