Document:

Exhibit 10.57
                                                                         Summary

                                 Loan Agreement

Summary of Loan  Agreement by and among  Shenzhen  Tongli Hi-tech Co., Ltd ("the
Obligor"),   Shenzhen  Nanshan  Branch  of  Guangdong   Development  Bank  ("the
Creditor")  and Shenzhen BAK Battery Co.,  Ltd. (" the Company ") dated  January
11th, 2006.

Summary of the main articles:
>>   Contract No.: 10208106002
>>   Loan Amount (RMB): 5 million yuan
>>   Contract Term: January 11th, 2006--January 11th, 2007
>>   Interest rate: fixed annual rate of 6.138%
>>   Purpose of the loan: to provide working capital for the Obligor
>>   Guaranty  Clause:  the  Company  undertakes  to provide  joint and  several
     liabilities for the indebtedness of the Obligor.
>>   Liabilities of Breach of Contract Breach of contract penalty; withdrawal of
     loan,  prepayment of principal and interest before maturity,  attachment of
     assets;  imposition of compound  interest;  lawyer's fee and travel cost in
     case of litigation due to the Obligor 's breach of contract etc.

Summary of the articles omitted
>>    Loan Amount and Term
>>    Interest Rate of the loan
>>    Purpose of the loan
>>    Method and Plan of the drawing of the loan
>>    Conditions of the drawing of the loan
>>    Sources of Repayment
>>    Method of Repayment
>>    Guaranty
>>    Rights and obligations of the Creditor
>>    Rights and obligations of the Obligor
>>    Liabilities of Breach of Contract
>>    Effectiveness, modification and termination of the Contract
>>    Notarization
>>    Applicable laws and Dispute settlement
>>    Special Representation of the Obligor and the Guarantor
>>    Supplemental Article
>>    Special Notes of the Creditor
>>    MiscellaneousExhibit 10.58
                                                                         Summary
                                Guaranty Contract
                                -----------------

Guaranty  Contract  Entered by and between  Shenzhen Nanshan Branch of Guangdong
Development  Bank ("the  Creditor")  and Shenzhen  BAK Battery Co.,  Ltd. (" the
Guarantor ") dated January 11th, 2006.

Summary of the main articles
>>   Contract number: 10208106002-01

>>   In order to secure the  indebtedness of Shenzhen Tongli High-tech Co., Ltd.
     (hereinafter  referred to as Obligor) under the loan  agreement  (reference
     no. 10208106002,  hereinafter referred to as Master Agreement) entered into
     by Creditor and Obligor,  the Guarantor  agrees to provide  guaranty to the
     Creditor as the guarantor of the Obligor.

>>   Secured  items  include the loan  principal,  interest,  penalty  interest,
     breach of  contract  compensation  and all the  expenses  incurred  for the
     Creditor to realize its right under Loan Agreement;

>>   Guaranty period:
          |X|  Two years from the expiry  date that the Obligor  should  fulfill
               its obligations in accordance with Loan Agreement;
          |X|  If due to the  provisions of relevant PRC law or  regulations  or
               any  agreement  reached  under Loan  Agreement,  any loan becomes
               mature  ahead of its  term,  guaranty  period  shall be two years
               starting from the advance mature date.

Summary of the articles omitted
>>   Method of Guaranty
>>   Scope of Guaranty
>>   Rights and Obligations of the Creditor
>>   Rights and Obligations of the Guarantor
>>   Liabilities of Breach of Contract
>>   Effectiveness, modification and termination of the Contract
>>   Notarization
>>   Applicable Laws and Dispute settlement
>>   Special Representation of the Guarantor
>>   Notes
>>   MiscellaneousExhibit 10.1

                            Equity Transfer Agreement

Transferor: Beijing Zhongrun Chuangtou Technology Co.,Ltd.(hereinafter referred
to as Party A)
Address:

Legal representative:  Wang Li Kun          Title: Chairman
Agent: Tong Zhi Ming                        Title: Executive Director

Transferee: Guangdong Guangxiang Network Information Co., Ltd (hereinafter
referred to as Party B)
Address:

Legal representative: Lin Qiuxia                     Title: Chairman

Agent:  Lam Kwok Hung                                Title: Executive Director

The agreement is entered into by the following two parties on January 2, 2006.

   1)  Beijing Zhongrun Chuangtou Technology Co., Ltd. was established jointly
       by Wang Li Kun, Lu Xiao Dan, Wen Shao Xiong, Wang Jian, Zhao Yong, Li De
       Yi and Xing Jun on June 21,2004 in Beijing.

   2)  Guangdong Guangxiang Network Information Co., Ltd. was established
       jointly by Lin Qiuxia and Liu Bo on July 28, 2005 in Guangzhou, Guangdong
       Province.

Preface:

   i)  Elephant Talk Communications Inc. is a limited liability company legally
       registered in California, USA, listed in OTCBB market, with stock code
       "ETLK". By the date the agreement is signed, the amount of shares which
       Elephant Talk has issued and will be issued in the next 3 months will be
       approximately 400,000,000 shares.

   ii) Beijing Zhongrun Internet Information Technology Co., Ltd. (hereinafter
       referred to as Joint Venture) was established on December 29, 2003 in
       Beijing, which is jointly managed by Beijing Zhongrun Chuangtou
       Technology Co., Ltd. and four natural person Zheng Zhi Xiang, Lu Xiao
       Dan, Wang Jian and Wen Shao Xiong with a registered capital of RMB 17.15
       million, of which Beijing Zhongrun Chuangtou Technology Co., Ltd.
       accounts for 82.51%, while the natural person 17.49% of equity interest.
       The Joint Venture has a license to operate the mobile value-added
       services in China granted on October 21st 2004 by ministry of Information
       Industry with the license number B2-200040370.

   iii) Lin Qiu Xia and Liu Bo are the shareholders of Guangdong Guangxiang
       Network Information Co., Ltd., and shall own 100% shares of the company
       upon the date of signature of the agreement.

                                     10.1-1

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The parties to the agreement have reached the agreement as follows.

   1.  Definitions

   1.1.The following terms shall have the definitions assigned to them unless
       otherwise specified in the agreement.

       "China" means the People's Republic of China.

       "USA" means the United States of America.

       "Hong Kong" means Hong Kong Special Administrative Region of the People's
       Republic of China.

       "Guarantee" refers to the statement, guarantee and pledge made by Party A
       under the agreement.

       "Joint Venture" refers to the Beijing Zhongrun Internet Information
       Technology Co., Ltd., including its subsidiaries and affiliated
       companies.

       "Associated persons" refer to the direct relatives (including spouses,
       parents, brothers, sisters and children) of the existing shareholders and
       the companies in which such shareholders have interests.

       "Accounts" refer to the accounts and financial information provided by
       any company to Guangdong Guangxiang Network Information Co., Ltd. with
       respect to the members of such company before signing the agreement.

       "Events of force majeure" refers to any events of force majeure that
       occur in the world that have effects to the USA, Europe, Hong Kong or
       China, including Acts of God, war, riots, insurrections, civil
       commotions, economic sanctions, fire, flood, explosion, infectious
       diseases, terrorism, strikes or lockouts, significant adjustment of
       related policies or regulations.

   1.2 In the agreement:

   a)  Preface, provisions and attachments refer to the preface, provisions and
       attachments of the agreement.

   b)  Laws, regulations or rules (whether legally effective or not) include the
       irregular amendments, modification, combination, relegislation as well as
       the subsidiary laws and rules to such laws, regulations and rules.

                                     10.1-2

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   c)  Parties refer to the parties to the agreement:

   d)  Any words indicating persons or individuals cover natural persons,
       limited liability companies, partners, corporations, non-corporate
       entities and exclusively-owned companies.

   e)  Titles are omitted in explaining the agreement.

   1.3 Preface and attachments are a part of the agreement and have the legal
       force as stipulated in the agreement. The preface and attachments are
       included when mentioning the agreement.

   1.4 Files refer to those to be modified or updated irregularly.

   2.  Equity transfer

       Party A and Party B hereby reach the following agreement on equity
       transfer through negotiation in accordance with the Company Law of the
       People's Republic of China and the Contract Law of the People's Republic
       of China.

   2.1.The price of equity transfer and the term and mode of payment

       Party A owns 82.51% equity interest of the joint venture, and Party A has
       contributed RMB 14.15 million in paid-in capital according to the
       stipulations in former joint venture contract Party A shall transfer a
       60% equity interest in the joint venture to Party B in USD 4.8 million,
       for which Party B shall pay the price as per the following conventions:

   2.1.1 Party B shall pay USD 400,000 in cash to Party A as the initial payment
       for the transfer on or before January 22, 2006 and second payment at
       USD400, 000 on or before January 30, 2006 Party A agrees to authorize
       Party B to directly transfer the payment to the joint venture as the
       enterprise development fund of the joint venture for the telecom
       value-added service. The detailed plans for the fund shall be determined
       by the board meeting of the joint venture in which Party B participates.
       In case Party B does not transfer the payment to the joint venture as
       stipulated, the equity transfer agreement shall be dissolved
       automatically.

       Party A shall not cancel the entrustment of carry-over.

       Party A has obligations to ensure the joint venture  receives the initial
       payment.

       (Before signing this Agreement, Party B had already paid Party A an
       amount of USD$800,000. Now, both parties had agreed that the paid amount

                                     10.1-3

<PAGE>

       would be substituting the payments stated in Section 2.1.1 and according
       to the term and the mode of payment stated in Section 2.1.)

   2.1.2.Within 30 days after the equity transfer agreement takes effect, Party
       B shall deliver 5 million shares of ETLK stocks, with each share valued
       for the purpose of this agreement at USD 0.1, equivalent to USD 500,000
       as the third payment for the equity transfer to Party A or its designated
       party.

   2.1.3 On or before January31, 2006, Party B shall pay USD 800,000 in cash as
       the fourth payment for equity transfer; meanwhile, Party B shall deliver
       to Party A 5 million shares of ETLK stock, with each share valued for the
       purpose of this agreement at USD 0.1, equivalent to USD 500,000 as the
       fifth payment for equity transfer.

   2.1.4 If the joint venture is able to achieve a net profit of RMB 8 million
       or above in 2005 and a net profit of RMB 9 million or above in the first
       half of 2006,and these said amounts have been timely audited by a third
       party certified accountant approved by both parties, then Party B shall
       pay USD 600,000 in cash as the sixth payment to Party A before July 31,
       2006 while also delivering 5 million shares of ETLK stock to Party A,
       with each share valued for the purpose of this agreement at USD 0.1,
       totally equivalent to USD500,000 as seventh payment for equity transfer.
       If the joint venture can not accomplish the objective of a net profit of
       RMB 8 million over 2005 and/or RMB 9million or above in the first half of
       2006, then Party B shall deduct the difference between these agreed upon
       minimum, profits and the actual profits from the cash portion of this
       payment for equity transfer by the following method:

       a).if the net  profit  is less or equal to RMB 4  million,  the  deducted
       amount will be the full difference amount; and

       b). if the profit is more than RMB 4 million, then the deducted amount
       will be the difference of the actual profits and the targeted profit on
       the basis of RMB355,000 deducted on every RMB1million, and according to
       the above calculation method pay the balance of this equity transfer
       payment to Party A.

       However, the deducted amount will be kept in an escrow account. If Party
       A meets the target in the second half of 2006 and the actual profits is
       more the targeted profit, Party B will reimburse the difference to Party
       A according to the same principle in above.

   2.1.5 If the joint venture is able to achieve a net profit of RMB 18million
       or above over the year 2006, then Party B shall pay USD 600,000 in cash
       as the eighth to Party A before January 31, 2007 while also delivering 5
       million shares of ETLK stock to Party A, with each share valued for the
       purpose of this agreement USD 0.1, totally equivalent to USD 500,000 as
       ninth payment for equity transfer. If the joint venture can not
       accomplish the agreed upon net profit of RMB18 million, then Party B
       shall deduct the difference between the agreed upon profit and the actual

                                     10.1-4

<PAGE>

       profit from the cash portion of this payment for equity transfer by the
       following method:

       a). if the net  profit is less or equal to RMB 8  million,  the  deducted
       amount will be the full difference amount; and

       b). if the profit is more than RMB 8 million, then the deducted amount
       will be the difference of the actual profits and the targeted profit on
       the basis of RMB355,000 deducted on every RMB1million, and according to
       the above calculation method pay the balance of the equity transfer
       payment to Party A. Party B will not bear any further payment obligations
       for the deducted payment of this part of the equity transfer.

   2.1.6 On July 31,  2007,  with a 30 days  notice  from party A to Party B, in
       case one of the following  conditions  can not be met, Party A shall have
       the right to return the 20million  shares of ETLK stock  received as part
       of the equity  transfer back to Party B to buy back a 25% equity interest
       held by Party B:

       a) the average  30-day closing price of a share in ETLK prior to July 31,
       2007 is higher that or equal to USD 0.10 with  reasonable  trading volume
       Party A and Party B both agree that the 20 million  shares  could be sold
       in 90 trading days on the OTCBB market

       or

       b) ETCI or one of ETCI's shareholders purchases within the 30 days notice
       period by courier with signed acknowledgement by the receiving party, the
       20 million  shares of ETLK stock held by Party A for a  consideration  of
       USD 2 million in cash payable in 90 days.

   2.1.7 For the purpose of this agreement and for any of the amounts mentioned
        in this agreement, the exchange rate between US$ and RMB may float
        within the range of 7 RMB and 9 RMB for 1 US$; as long as the exchange
        rate is within this range the above said amounts will stay the same. If
        the actual exchange rate at the day of any payment or at the day of the
        auditors report on a level of profits mentioned in this contract falls
        outside the above range, the payments will follow the above closest
        limit accordingly. And thus, the to be applied exchange rate will always
        stay within this range.

   2.2 Party A guarantees that Party A shall have full power of disposition with
       respect to the equity Party A intends to transfer to Party B, that the
       equity has any and all rights without any limitation whatsoever, is not
       hypothecated in any shape or form and that the equity is not sealed up
       and is without any recourse by any third persons; Party A shall be fully
       liable for any economic and legal consequence incurred therefrom.

       Party A guarantees that the net profit of the joint venture, available to
       shareholders, will not be less than RMB 8 million in 2005,and will not be
       less than RMB 18 million in 2006.However, any of the net profits
       generated by the joint venture as a consequence of business brought to

                                     10.1-5

<PAGE>

       the joint venture by Elephant Talk Communications Inc.and/or it's
       associates, and identified as such by parties (like any business from
       Mine, and any and all European customers of Elephant Talk Communication
       Inc.), will for the purpose of these guarantees not be included in these
       profit calculations of the joint venture over 2005 and 2006,as formulated
       with respect to the minimum profits as stipulated in section II,1.4 and
       Section II,1.5 of this agreement. In addition, all these guaranteed net
       profits should be audited by an independent certified accounting firm as
       authentic and legal. If the joint venture cannot accomplish the
       above-said guaranteed lever of profits, the payments for equity transfer
       under this agreement shall be reduced in accordance with SectionII, 1.4
       and SectionII, 1.5of this agreement.

       In respect of the joint venture, Elephant Talk Communications Inc, and
       its associates shall pay for the usages at a minimum for the cost or more
       for services rendered.

   3.  Sharing of profit and loss (including creditors' rights and debts) of the
       joint venture.

   3.1 Upon the effectiveness of the agreement, Party B shall be entitled to the
       profits and share appropriate risks and losses of the joint venture by
       the ratio of the 60% equity purchased.

   3.2 In case Party A does not properly disclose to Party B the proper size
       and/or conditions of any and all of the debts to be borne by the joint
       venture before this equity transfer agreement takes effect upon signing
       this agreement, any losses that may be incurred by Party B as a
       consequence of such incorrect and/or incomplete disclosure will be fully
       compensated by Party A; Party B shall have the right to fully claim
       compensation from Party A.

   3.3 Party A guarantees that dividends will start to be distributed in 2006.
       The first dividend of minimum US$515,000 will be distributed on the same
       day when Party B is paying the sixth payment to Party B on July 31, 2006.
       The second dividend of minimum US$515,000 will be distributed on the same
       day when Party B is paying the eighth payment from Party A on January 31,
       2007. If the said payments in this clause is or are not paid on time, the
       said distribution of dividend will be delayed accordingly.

   4.  Liabilities of breach of contract

   4.1 Both parties shall conscientiously perform the provisions of the
       agreement once it takes effect. In case either party does not fulfill the
       obligations stipulated in the agreement, such party shall take
       appropriate responsibilities in accordance with the laws and stipulations
       of the agreement.

                                     10.1-6

<PAGE>

   4.2 In case Party B incurs losses to Party A due to breach of contract, and
       Party B pays the liquidated damages lower than the actual losses, Party B
       shall make extra compensations. In case Party B fails to pay Party A on
       the specified time as stated in the Section II, 1. of this Agreement,
       Party B shall pay Party A the late payment charge at 0.05% each day of
       the belated payment as stated in the Section II, 1. of this Agreement.

   4.3 In case Party B is unable to handle the change registration due to Party
       A's reason within 15 business days after receiving all the necessary
       document for the said matters from Party B, Party A shall pay Party B the
       liquidated damages at 0.05% each day of the payment for equity transfer
       that Party B has already defrayed. In case Party A incurs losses to Party
       B due to breach of contract, and Party A pays the liquidated damages
       lower than the actual losses, Party A shall make extra compensations.

   5.  Pledge

       Party A pledges that Party A shall not negotiate in any names with any
       third party investors or acquirers on investments, shareholding,
       acquisition or joint venturing matters from the date of signature of the
       agreement to the date of equity change registration, and guarantees the
       joint venture will not negotiate in any names with any third party
       investors or acquirers on investments, shareholding, acquisition or joint
       venturing matters.

       Party B pledges that it will not negotiate in any names with any third
       party engaging in short message service or related services on
       investments, shareholding, acquisition or joint venturing matters from
       the date of signature of the agreement to the date of equity change
       registration.

   6.  Complete agreement

       The agreement represents all agreements and understanding for the subject
       matters of the agreement by the parties to the agreement. The agreement
       supersedes any notes, proposals, announcements, statements, guarantees,
       memorandum, agreements or pledges made by the parties to the agreement
       previously in oral, spoken or any other forms. No parties to the
       agreement have ever relied upon such notes, proposals, announcements,
       statements, guarantees, memorandum, agreements or pledges.

   7.  Change or dissolution of the agreement

       The agreement may be changed or dissolved upon consensus by both parties
       through negotiation. In the event of change or dissolution of the
       agreement through negotiation, both parties shall sign the change or
       dissolution agreement separately.

                                     10.1-7

<PAGE>

   8.  Sharing of fees

       Any fees incurred during the process of equity transfer, including notary
       fee, evaluation or audit expenses, charges for change of industry and
       commerce registration, shall be borne by both parties equally.

   9.  Party A's statement, guarantee and pledge

   9.1 The equity interests held by Xiamen Yuxinjie Technology Co., Ltd. in the
       joint venture have been legally and formally transferred to a third
       party.

   9.2 The authorized capital of the Company of the joint venture as at 30
       September 2005 is RMB17.15 million duly registered and certified with the
       Department of Commerce.

   9.3 The affiliated organizations to the joint venture are fully owned by the
       joint venture or by the wholly owned subsidiaries. It is legally
       acceptable for the joint venture or its wholly-owned subsidiaries to own
       the affiliated organizations to the joint venture as such affiliated
       organizations are legally registered. The affiliated companies to the
       joint venture do not involve in insurance contract or contract of equity
       transfer or sale. The affiliated companies to the joint venture are
       incorporated in accordance with Chinese laws and the articles of
       association. None of the affiliated organizations or the wholly owned
       business or the joint venture has any escape clause in their contracts
       with Party A so they cannot withdraw themselves from the obligations with
       Party A.

   9.4 The accounts and documents provided by the joint venture and its
       affiliated companies with regard to Party B are all authentic, complete
       and correct. The meeting minutes of the joint venture and its affiliated
       companies comprise the minutes of main meetings of the joint venture and
       affiliated companies, including the resolutions of shareholders'
       meetings, resolutions of board of directors' meetings and the minutes of
       board of directors' meetings. These meeting minutes are authentic,
       correct and complete.

   9.5 Party A's statement on the finance of the joint venture: (1) The joint
       venture has made good preparations according to the financial accounts
       and records. (2) By the closing date of accounting, the financial data
       has been completely registered and the financial records completely
       reflect all liabilities and contingent liabilities of the joint venture
       (all liabilities and contingent liabilities involved have been recorded
       in the documents disclosed to the acquirer by Party A). (3) In the
       financial reports of the joint venture, the balance sheet has fairly
       reflected the financial status of the joint venture and the shareholding
       of shareholders by the closing date of the financial statements, and
       fairly reflected the operating results and the cash flow in the specific
       period of the joint venture.

   9.6 There are no liabilities undisclosed. The joint venture and its
       affiliated companies have not any liabilities or obligations in any kinds

                                     10.1-8

<PAGE>

       that are not disclosed (whether these liabilities or obligations are
       known or not informed, actually exist or have not formed, possibly occur
       or occur in other forms, matured or not matured). All liabilities or
       obligations have been reflected or registered in the financial reports of
       Party A. The balance sheet disclosed in the mid-term financial reports of
       the joint venture has completely disclosed the current liabilities
       relating to the daily operating activities taking place after the date of
       the balance sheet. The liabilities, obligations and current liabilities
       match the operating activities of Party A in the past, and will not pose
       negative effect on the joint venture wholly or severally. The list of
       information disclosure of the joint venture details the complete
       liabilities and obligations of the joint venture and its affiliated
       companies, with indications of the start and end dates of each liability
       or obligation.

   9.7 There is no substantially unfavorable change. Starting from July 31,
       2005, the joint venture has no substantially negative changes, nor any
       occurrence of reasonably anticipated events or changes of environment
       that pose substantially negative change to the joint venture.

   9.8 Exiting debts. The joint venture discloses the following information on
       its balance sheet occurred at the closing date of this signed agreement's
       Exhibit A: (1) The loans and total unpaid repayment, loan interest rates
       and maturity date of loans, and the total amount of prepaid penalties and
       expenses relating to such loans of the joint venture and its affiliated
       companies. (2) The hypotheca and lien generated out of these debts. (3)
       The name of the borrowers and recipients of each loan.

   9.9 The operating activities of Tianjin Zhongrun Information Technology Co.,
       Ltd. and Tianjin Yaxun Technology Development Co., Ltd. in the joint
       venture have been transferred under the joint venture. Such two companies
       have legally wound up their operations.

   9.10 The first 2 payments (together 800,000) received by Party A shall be
       used only in the market development plan of the joint venture, which will
       help increase the SMS revenues.

   9.11 Party A pledges that the joint venture will adopt the accounting
       standards and procedures required by Party B, and Party A will cooperate
       with Party B to upgrade the financial system of the joint venture to the
       standard level of Party B.

   9.12 Party B is able to keep track of the capital changes of the bank
       accounts of the joint venture and its affiliated organizations every day,
       for which the joint venture and its affiliated organizations shall render
       sufficient cooperation.

   9.13 Party A will co-operate with Party B to interface all its sales and
       marketing activities with Party B's CRM/Billing and Management System.

   9.14 Party A agrees that Party B paid the sixth payment stated on Section II
       1.4 on July 31, 2006,Party B will be entitled to hold three seats of
       directorship out of five seats in the Board of the Director. However, no
       changes, amendments, investments can be made on this Agreement unless it

                                     10.1-9

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       has affirmative 100% votes from all members of the Board of Directors
       until November 30 2007 and Section II 1.6 is settled.

   9.15 Party A agrees that on or before November 30, 2005, the Le Le tong's
       debt will be paid to a still outstanding balance not more than RMB 5
       million.

   9.16 Party A agrees that Party B can appoint a Chief Financial officer to the
       JV to oversee the daily financial matters.

   9.17 With respect to the outstanding amount due by the old shareholders of
       RMB 9.8 Million, both Party A and Party B have agreed that Party A
       undertakes to settle and procures that the respective shareholders to
       settle the amount owed as follows:

       a) The total amount of the first and the second payments of US$ 800,000
       stated in the Section 2 received by Party A on October 22, 2005 and
       November 30, 2005 respectively; and

       b) The remaining balance is to be settled by way of an interim dividend
       to be

       c) declared by the directors in a meeting before signing this Agreement
       out of the profit of the Company for the year ended 31 October 2005.

   9.18 Party A agrees that joint venture shall not engage in any business which
       is prohibited by the PRC laws, administrative regulations or the
       decisions of the State Council. The business which needs to be licensed
       according to the PRC laws, administrative regulations, the decisions of
       the State Council or the foreign invested industry policy could be
       engaged in by the joint venture only after the license has been granted
       by the competent approval authority to the joint venture and the joint
       venture has made registration with the administration authority for
       industry and commerce.

   9.19 Party A agrees that the key management will stay for at least a 3-year
       employment contract for the joint venture.

  10.  Confidentiality

  10.1 As limited to the conditions, the parties to the agreement shall cause
       their directors, employees, staff, representatives, counselors and agents
       to keep confidential the information obtained from the signing or
       performing the agreement, or the discussion of the matters of the
       agreement, or the matters predicted by the agreement.

  10.2 Under the following circumstances, any parties to the agreement may or
       allow their directors, staff, employees, representatives, counselors and
       agents to disclose the information that is originally kept confidential.

       a) Disclosing information mandated by the laws and rules in force.

                                    10.1-10

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       b) Either party to the agreement is required to disclose information by
       the stock exchange where it belongs to, law enforcement agencies or
       government departments in whatever positions, including but not limited
       to the information disclosure required by the stock exchange, whether
       these requirements are legally binding or not;

       c) Vest all rights under the agreement in the related parties to the
       agreement.

       d) Disclose information to the specialized counselors or auditors of the
       party to the agreement.

       e) Related information is known by the public not because of error of the
       party to the agreement.

       f) The party has obtained the written approval from other parties to
       disclose relevant information.

  10.3 The restrictions made by the article 8 are still effective after the
       termination of the agreement.

  11.  Resolution of disputes

       Any disputes arising out of or in connection with the agreement shall be
       settled by both parties through friendly negotiation. If no agreement
       should be reached, the case may be submitted to China International
       Economic and Trade Arbitration Commission (CIETAC) for arbitration.

  12.  Effective conditions

  12.1 The agreement shall take effect upon signing by both parities and shall
       be notarized by Beijing Notary Public Office within three days of the
       effectiveness of the agreement. And both parties shall go through the
       procedures of change of industry and commerce registration with the
       industry and commerce administration authorities within 10 working days
       upon notarization according to law.

       However, the execution of this agreement shall be subject to finalization
       of the due diligence to be done not later than October 13,2005,and also
       subject to finalization of a proper management control with the key
       management.

  12.2 The agreement is made in octuplicate, Party A and Party B each holds one
       copy, the joint Venture and Beijing Notary Public Office each holds one
       copy, and the rest is reported to the Competent departments have the same
       legal effectiveness.

                                    10.1-11

<PAGE>

       Transferor:      Zhongrun Chuangtou Technology Co.,Ltd.

                        By:  /s/ Wang Li Kun
                        Name:    Wang Li Kun
                        Title:   Chairman

       Date:   January 4, 2006

       Transferee:      Guangdong Guangxiang Network Information Co., Ltd

                        By:  /s/ Lin Qiuxia
                        Name:    Lin Qiuxia
                        Title:   Chairman

       Date:  January 4, 2006

                                    10.1-12

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00096-of-00352.parquet"}]]