Document:

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                                                                    EXHIBIT 4.32

                              ONLINE GAME SOFTWARE
                       DISTRIBUTION AND LICENSE AGREEMENT

                                  BUZZER BEATER

                                DECEMBER 28, 2004

               SHENGQU INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD.

                      SHANGHAI SHANDA NETWORKING CO., LTD.

                       NANJING SHANDA NETWORKING CO., LTD.

                     HANGZHOU BIANFENG NETWORKING CO., LTD.

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                              ONLINE GAME SOFTWARE
                       DISTRIBUTION AND LICENSE AGREEMENT

THIS ONLINE GAME SOFTWARE DISTRIBUTION AND LICENSE AGREEMENT (this "Agreement")
is entered into as of December 28, 2004 ("Effective Date") by and among:

(1)   SHENGQU INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD., a corporation
      organized and existing under the laws of the People's Republic of China
      (the "PRC") and having its registered address at Room 638-7, Building 2,
      No. 351 Guoshoujing Road, Zhangjiang Hi-Tech Park, Shanghai, the PRC
      ("Shengqu" or "Licensor");

(2)   SHANGHAI SHANDA NETWORKING CO., LTD., a corporation organized and existing
      under the laws of the PRC and having its registered address at Room 402-B,
      No. 727 Zhangjjiang Road, Pudong New Area, Shanghai, the PRC ("Shanda
      Networking");

(3)   NANJING SHANDA NETWORKING CO., LTD., a corporation organized and existing
      under the laws of the PRC and having its registered address at Room 801,
      18 F International Garden Apartment, High-technology Area, Nanjing, the
      PRC ("Nanjing Shanda "); and

(4)   HANGZHOU BIANFENG NETWORKING CO., LTD., a corporation organized and
      existing under the laws of the PRC and having its registered address at
      Floor 18, 160 Tianmushan Road, Hangzhou, Zhejiang, the PRC ("Bianfeng").

For the purpose of this Agreement, Shanda Networking, Nanjing Shanda and
Bianfeng shall be referred to collectively as the "Licensees".

                                    RECITALS

WHEREAS, Shengqu engages in the business of developing, distributing and selling
computer games, including online games played by multiple users;

WHEREAS, the Licensees engage in the business of the operating, publishing and
selling online games;

WHEREAS, Shanda Networking and Creative Entertainment Co., Ltd. ("Creative
Entertainment") had entered into a internet game distribution and servicing
agreement on October 30, 2002 (the "Original

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Agreement"). Shanda Networking has the right to operate the Game in this
Original Agreement.

WHEREAS, Shanda Networking desires to transfer the license to Shengqu, and
Shengqu sublicense the Game to Shanda Networking, Nanjing Shanda and Bianfeng in
specific regions.

NOW, THEREFORE, in consideration of the premises and the mutual consideration
received and to be received pursuant to this Agreement, the parties agree as
following.

1.    DEFINITIONS.

In this Agreement, unless the context otherwise requires, the following
expressions shall have the meanings set forth below:

1.1   "Business Day" shall mean any day other than a Saturday, a Sunday or a
      legal holiday in the PRC.

1.2   "Client Software" shall mean software sold, provided or distributed to the
      users and therefore, to be loaded onto the user's personal computer.

1.3   "Server Software" shall mean system software and a proprietary database
      (including the content and records located in such database) located on
      servers connected to the Internet.

1.4   "Game" shall mean an online game known as The Buzzer Beater licensed by
      Creative Entertainment to Shanda Networking.

1.5   "Intellectual Property" shall mean any and all (by whatever name or term
      known or designated) tangible and intangible and now known or hereafter
      existing (a) rights associated with works of authorship throughout the
      universe, including, but not limited to, copyrights (including without
      limitation, the sole and exclusive right to prepare "derivative works of
      the copyrighted work and to copy, manufacture, reproduce, distribute
      copies of, modify, perform and display the copyrighted work and all
      derivative works thereof), moral rights (including without limitation any
      right to identification of authorship and any limitation on subsequent
      modification) and mask-works; (b) rights in and relating to the protection
      of trademarks, service marks, trade names, goodwill, rights of publicity,
      merchandising rights, advertising rights and similar rights; (c) rights in
      and relating to the protection of trade secrets and confidential
      information; (d) patents, designs, algorithms and other industrial
      property rights and rights associated therewith; (e) other intellectual
      and industrial property and proprietary rights (of every kind and nature
      throughout the universe and however designated) relating to intangible
      property that are analogous to any

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      of the foregoing rights (including without limitation logos, rental rights
      and rights to remuneration), whether arising by operation of law,
      contract, license or otherwise; (f) registrations, applications, renewals,
      extensions, continuations, divisions or reissues thereof now or hereafter
      in force throughout the universe (including without limitation rights in
      any of the foregoing); and (g) rights in and relating to the sole and
      exclusive possession, ownership and use of any of the foregoing throughout
      the universe, including without limitation, the right to license and
      sublicense, assign, pledge, mortgage, sell, transfer, convey, grant, gift
      over, divide, partition and use (or not use) in any way any of the
      foregoing now or hereafter (including without limitation any claims and
      causes of action of any kind with respect to, and any other rights
      relating to the enforcement of, any of the foregoing).

1.6   "Territory" shall include East China, North-east China, North China,
      North-west China, South-west China, and Central-south China. East China
      include Shanghai, Jiangsu province, Zhejiang province, Anhui province,
      Fujian province, Jiangxi province and Shandong province; North-east China
      include Liangning province, Jilin province and Heilongjiang province;
      North China include Beijing, Tianjin, Hebei province, Shanxi province and
      Inner Mongolia autonomous region; North-west China include Shanxi
      province, Gansu province, Qinghai province, Ningxia autonomous region and
      Xinjiang autonomous region; South-west China include Chongqin, Sichuan
      province, Guizhou Province, Yunnan province and Xizhang autonomous region.
      Central-south China include Henan province, Hubei province, Guangdong
      province, Guangxi autonomous region and Hainan province.

2.    DISTRIBUTION LICENSE

2.1   Shanda Networking shall have an exclusive right to distribute and sell the
      Game and its peripheral products in North China, North-west China and
      South-west China;

      Shengqu shall grant Nanjing Shanda an exclusive license to distribute and
      sell the Game and its peripheral products in Central-south China and East
      China;

      Shengqu shall grant Bianfeng an exclusive license to distribute and sell
      the Game and its peripheral products in North-east China.

2.2   The Licensees shall, during the term of this Agreement, diligently and
      faithfully provide the Services, distribution and sell the Game and its
      peripheral products in the Territory and shall use its best endeavors to
      maintain the goodwill of Shengqu in the Territory. The Licensees shall
      leave in position and not cover or erase any notices or other marks
      (including, without limitation, details of patents or notices that a
      trademark design or copyright relating to the Game is owned by Shengqu or
      a third party) which Shengqu

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      may place or affix to the Game.

2.3   During the term of this Agreement, the Licensees shall not sell,
      sublicense, export or assist in or be a party to the export of the Game
      outside the Territory.

3.    INTELLECTUAL PROPERTY RIGHTS

3.1   Shengqu expressly covenants and warrants that it has good title or
      authorization to the Game, Client Software, Server Software and the right
      to license their use to the Licensees free of any proprietary rights of
      any other party or any other encumbrance whatsoever.

3.2   Shengqu acknowledges that ownership rights in all data and data files
      (including, but not limited to, user data, data recorded and stored in the
      game database, connection log, billing log, chatting log and other related
      data) which are generated by the servers during operation of the Game
      within the Territory, and the contents of related documentation, and
      Intellectual Property Rights therein or associated therewith, will remain
      with The Licensees, who will have the exclusive right to protect the same.

3.3   The Licensees agree to report to Shengqu any known infringements, illegal
      uses or misuses of the Intellectual Property Rights of Shengqu in
      connection with the Game in its original and/or localized form and any
      part thereof, the game engine, the Client Software, the Server Software,
      and the contents of related documentation in the Territory. The Licensees
      agrees to assist Shengqu in enforcing or obtaining protection of such
      items and acknowledges that Shengqu shall have the sole right to bring a
      legal action or suit for infringement thereof. Such assistance shall be at
      Shengqu's expense unless the matter to which such assistance applies
      arises out of or from or is related in any way to the breach by the
      Licensees of any term or condition of this Agreement or by the Licensees'
      willful misconduct, in which case such assistance shall be at the
      Licensees' expense.

4.    INITIAL PAYMENT

4.1   In consideration of the rights have been granted by Shanda Networking to
      Shengqu, Shengqu shall pay to Shanda the initial fees of RMB 830,000.02.

4.2   Shengqu shall sublicense the rights to Shanda Networking, Nanjing Shanda
      and Bianfeng pursuant to the Section 2.1 of this Agreement. The payment of
      the initial fees will be as below: (i) Shanda Networking should pay to
      Shengqu the sublicense fees of RMB 170,000.02; (ii) Nanjing Shanda should
      pay to

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      Shengqu the sublicense fees of RMB 580,000; and (iii) Bianfeng should pay
      to Shengqu the sublicense fees of RMB 80,000

5.    MONTHLY ROYALTY PAYMENTS

      The Licensees shall make monthly royalty payments to Shengqu as following:

5.1   The Licensees shall pay to Shengqu the revenues received in connection
      with operating the Game according to the following conditions are
      satisfied:

      5.1.1 If the amount of concurrent online user is less than 50,000, the
            Licensees shall pay to Shengqu 21% of the revenues;

      5.1.2 If the amount of concurrent online user is less than 100,000 but
            more than 50,000, the Licensees shall pay to Shengqu 20% of the
            revenues;

      5.1.3 If the amount of concurrent online user is more than 100,000, the
            Licensees shall pay to Shengqu 18% of the revenues;

5.2   The Licensees shall provide an income statement for each month to Shengqu
      for its review and confirmation by the 10th day of the following month.

5.3   The Licensees shall pay to Shengqu the monthly royalty payment for each
      month by the 30th day of the month after the month in which Shengqu
      confirms the income statement under Clause 5.2.

5.4   Shengqu shall provide The Licensees the receipt for a monthly royalty
      payment by the 15th day after the Licensees makes such monthly royalty
      payment.

6.    TERM

This Agreement shall be executed on January 1, 2005 and the term shall be from
January 1, 2005 to October 29, 2005. The sublicense had received the consent of
Creative Entertainment in written.

7.    RIGHTS ON TERMINATION

Upon termination of this Agreement:

7.1   All of the Licensees's rights with respect to the Game, in its original
      and/or localized form and any part

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      thereof, the game engine, the Client Software, the Server Software, the
      tools, and the codes will automatically and immediately terminate, and The
      Licensees shall immediately cease to use the Game in its original and/or
      localized form and any part thereof, the game engine, the Client Software,
      the Server Software, the tools, and the codes, and shall destroy or return
      (at Shengqu's option) any materials representing the same to Shengqu,
      along with a written confirmation of destruction or return, signed by an
      officer of The Licensees.

7.2   Any termination of this Agreement shall not affect any rights and
      obligations accrued as of the date of the termination. For the avoidance
      of doubt, any monthly royalty payment accrued prior to the termination
      shall be payable notwithstanding the termination and the payment shall be
      governed to the same extent by the terms of monthly royalty payment under
      this Agreement.

8.    DEFAULT

8.1   For the purposes of this Agreement, a party shall be in default if (i) it
      materially breaches a term of this Agreement causing serious harm to the
      goodwill and advantages of the other party, and such breach continues for
      a period of sixty (60) days after the party committing the breach has been
      notified of the breach, or (ii) it become insolvent.

8.2   Upon occurrence of an event of default as described in the clause 8.1, the
      party not in default may immediately terminate this Agreement by giving
      written notice to the party in default. The rights and remedies provided
      to the parties in this Clause shall not be exclusive and are in addition
      to any other rights and remedies provided by this Agreement or at law or
      in equity.

9.    INDEMNIFICATION

9.1   The Licensees shall indemnify, defend and hold Shengqu and its affiliates,
      directors, officers, employees, shareholders, and agents harmless from and
      against any and all claims, losses, liabilities, costs and expenses
      arising out of any third-party claim relating to:

      9.1.1 Any violation by The Licensees of any of the provisions of this
            Agreement; and

      9.1.2 Any gross misconduct or intentional acts or omissions on the part of
            The Licensees or its employees or agents.

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9.2   Shengqu shall indemnify, defend and hold The Licensees and its affiliates,
      directors, officers, employees, shareholders, and agents harmless from and
      against any and all claims, losses, liabilities, costs and expenses
      arising out of any third-party claim relating to:

      9.2.1 Any violation by Shengqu of any of the provisions of this Agreement;
            and

      9.2.2 Any gross misconduct or intentional acts or omissions on the part of
            Shengqu or its employees or agents.

9.3   Indemnification procedure shall be as following:

      9.3.1 A party seeking indemnification (the "Indemnified Party") will
            promptly notify the other party (the "Indemnifying Party") in
            writing of any claim for indemnification.

      9.3.2 The Indemnifying Party will, if requested by the Indemnified Party,
            give assistance to the Indemnified Party in defense of any claim.

      9.3.3 The Indemnified Party will have the right to consent to the entry of
            judgment with respect to, or otherwise settle, an indemnified claim
            with the prior written consent of the Indemnified Party.

10.   GOVERNING LAW

This Agreement shall be governed by and construed in accordance with the laws of
the PRC.

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IN WITNESS WHEREOF, Shengqu and the Licensees have each caused this Agreement to
be executed and delivered by a duly authorized representative, officer or agent,
effective as of the Effective Date.

SHENGQU INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD.

By: ___________________________
Name: Chen Tianqiao
Title: Chief Executive Officer

SHANGHAI SHANDA NETWORKING CO., LTD.

By: ___________________________
Name: Chen Danian
Title: Senior Vice President

NANJING SHANDA NETWORKING CO., LTD.

By: ___________________________
Name: Tang Jun
Title: President

HANGZHOU BIANFENG NETWORKING CO., LTD.

By: ___________________________
Name: Wang Jingying
Title: Vice President

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                                                                    EXHIBIT 4.33

                                    AMENDMENT

                                     BETWEEN

                      SHANGHAI SHANDA NETWORKING CO., LTD.

                                       AND

               SHENGQU INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD.

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                AMENDMENT TO BILLING TECHNOLOGY LICENSE AGREEMENT

THIS AMENDMENT TO BILLING TECHNOLOGY LICENSE AGREEMENT ("Amendment") is made as
of December 28, 2004, in Shanghai, P.R.C., by and between Shanghai Shanda
Networking Co., Ltd. ("Shanda Networking"), a domestic company organized and
existing under the laws of the People's Republic of China (the "PRC"), and
Shengqu Information Technology Co., Ltd. ("Shengqu"), a wholly foreign-owned
company organized and existing under the laws of the PRC.

WHEREAS,

A.    Shanda Networking and Shengqu ("Parties") are parties to that certain
      BILLING TECHNOLOGY LICENSE AGREEMENT dated as of December 9, 2003 (the
      "Agreement").

B.    The Parties agree to modify the standard monthly fee and licensed region.

NOW, THEREFORE, in consideration of the applicable conditions, the Parties agree
to amend the Agreement as follows.

1.    Section 3.1 of the Agreement is amended so that it reads in its entirety
      as follows:

3.    In consideration of the payment of license fee by Shanda Networking and
      the covenants made by Shanda Networking under this Agreement, Shengqu
      hereby grants a non-exclusive license to Shanda Networking, to allow
      Shanda Networking to use the Billing Technology in Chongqing, Sichuan,
      Guizhou, Yunnan, Xizang, Shanxi[CHINESE CHARACTERS], Gansu, Qinghai,
      Ningxia, Xinjiang, Beijing, Tianjin, Hebei, Shanxi[CHINESE CHARACTERS],
      Neimengu.

2.    Other provisions of the Agreement shall remain unchanged and effective.

3.    This Amendment shall become effective only after it has been singed by the
      Parties.

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4.    This Amendment shall be executed in four counterparts, and each party
      shall remain two counterparts.

5.    This Agreement shall be governed by and construed in accordance with the
      laws of the PRC.

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IN WITNESS WHEREOF, the Parties have caused this Amendment to be executed by
their respective duly authorized signatories as of the day and year first
written above.

SHANGHAI SHANDA NETWORKING CO., LTD.

By: _________________________
Name: Tang Jun
Title: General Manager

SHENGQU INFORMATION TECHNOLOGY (SHANGHAI) CO., LTD.

By: ___________________________
Name: Chen Tianqiao
Title: Board Chairman

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