Document:

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                                                                   EXHIBIT 10.13

                              CALL OPTION AGREEMENT

                                     Between

              BEIJING QIAN CHENG SI JIN ADVERTISING COMPANY LIMITED

                                       and

                                 51NET.COM INC.

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                              Call Option Agreement

This Call Option Agreement (the "AGREEMENT") is made and entered into as of
August 1, 2002 by and between:

(1)   BEIJING QIAN CHENG SI JIN ADVERTISING COMPANY LIMITED, a limited liability
      company organized and existing under the PRC Law, with its registered
      office at the premises of the Government of Yujiawu Hui Nationality
      Township, Tongzhou District, Beijing, PRC (the "PARTY A"); and

(2)   51NET.COM INC., a company organized and existing under the laws of the
      British Virgin Islands, with its registered office at c/o Offshore
      Incorporation Centre, P.O. Box 957, Road Town, Tortola, British Virgin
      Islands (the "PARTY B").

WHEREAS:

(1)   Qianjin Network Information Technology (Shanghai) Company Limited ("TECH
      JV"), a Chinese-Foreign joint venture company organized and existing under
      the PRC Law, and its business scope is to design and develop software,
      multi-media and network system, related applications and relevant
      information services, design and produce Internet advertisements, launch
      Internet advertisements through www.51job.com, and provide career services
      and human resources (HR) services (operated with licenses, if required);

(2)   Shanghai Qianjin Culture Communication Company Limited ("ADCO"), a limited
      liability company organized and existing under the PRC Law, and its
      business scope is to design and produce all kinds of advertisements, and
      represent as agency for domestic advertisement (operated with licenses);

(3)   Party A owns 1% of the total issued and outstanding shares of Tech JV, and
      20% of the total issued and outstanding shares of AdCo; and

(4)   Party A desires to sell to Party B and/or a company or person designated
      by Party B and Party B and/or a company or person designated by Party B
      desires to purchase from Party A 1% of the total issued and outstanding
      shares of Tech JV and 20% of the total issued and outstanding shares of
      AdCo subject to the PRC laws.

NOW THERFORE, upon friendly consultations and based on a principle of equality
and mutual benefits, Party A and Party B hereof agree as follows:

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                              ARTICLE I DEFINITIONS

1.1   Unless otherwise defined hereof, the following terms shall have the
      following meanings:

"APPROVAL"        any approval, consent, license, permit obtained from and/or
                  issued by any PRC administrative authority in accordance with
                  the PRC Law, including without limitations the approval of
                  government authority of foreign trade and economy regarding
                  the establishment of foreign investment enterprises ("FIE")
                  and any change accordingly;

"OPTION"          the right of Party B and/or the company or person designated
                  by Party B to acquire from Party A 1% of the total issued and
                  outstanding shares of Tech JV and 20% of the total issued and
                  outstanding shares of AdCo in accordance with the terms and
                  conditions of this Agreement;

"PRC"             the Peoples' Republic of China, for purposes of this
                  Agreement, excluding Hong Kong, Macao and Taiwan;

"PRC LAW"         all the laws, regulations and decisions made and promulgated
                  by any PRC legislature, and all the administrative
                  regulations, rules and measures and other official documents
                  legally binding (on the parties hereto);

"REGISTRATION"    any legal registration with relevant PRC authorities upon the
                  application in accordance with the PRC Law, including without
                  limitations the registration with relevant administration for
                  industry and commerce for the establishment and change of the
                  FIEs;

"SHARES"          the equity interests which investor holds by contributing to
                  the registered capital of the company or purchasing or
                  otherwise lawfully acquiring the capital contribution from the
                  original investor of the company. The percentage of the equity
                  shares held by a shareholder in the company shall be equal to
                  his or her proportionate contribution to the registered
                  capital of the company.

                                ARTICLE II OPTION

2.1   Party A hereby irrevocably grants Party B the Option, after which Party B
      shall have the right to purchase from Party A 1% of the total issued and
      outstanding shares of Tech JV and 20% of the total issued and outstanding
      shares of AdCo held by Party A.

2.2   Subject to the PRC Law, Party B and/or a company or person designated by

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      Party B shall have the right to exercise the Option under the terms and
      conditions of this Agreement at any time during the term of this Agreement
      to acquire from Party A 1% of the total issued and outstanding shares of
      Tech JV and 20% of the total issued and outstanding shares of AdCo.

2.3   Upon the request of Party B and/or a company or person designated by Party
      B to exercise the Option, Party A is obligated to transfer the Shares to
      Party B and/or the company or person designated by Party B.

                                ARTICLE III PRICE

3.1   Party A and Party B hereof agree that, for the Option granted by Party A
      and for the 1% of the total issued and outstanding shares of Tech JV and
      20% of the total issued and outstanding shares of AdCo acquired from Party
      A, Party B will pay Party A in the total amount of RMB1.2 Million as a
      consideration.

3.2   Party B and/or the company or person designated by Party B exercise all
      the Option, and acquire 1% of the total issued and outstanding shares of
      Tech JV and 20% of the total issued and outstanding shares of AdCo from
      Party A. Regarding the foresaid share transfer, Tech JV and AdCo shall
      have gone through the formalities of approval and registration. Within
      five (5) days following the issuance of a new Approval Certificate and a
      Business License for Enterprise Legal Person from the approval and
      registration authorities (or the issuance of relevant approval and
      registration certificates by the authority in charge of the exercise of
      the Option), Party B shall deliver the full payment as stipulated in
      Article 3.1 hereof in a lump sum.

                          ARTICLE IV EXERCISE OF OPTION

4.1   Party A and Party B hereof agree that no entity or person other than Party
      B and/or the company or person designated by Party B shall have the right
      to exercise the Option.

4.2   Party B and/or the company or person designated by Party B shall have the
      right to exercise the Option by the means as permitted by law at any time
      after this Agreement becomes effective.

4.3   Subject to the PRC Law, Party B and/or the company or person designated by
      Party B shall be entitled to exercise the Option in whole or in part, and
      on one or more occasions pursuant to this Agreement.

4.4   When Party B and/or the company or person designated by Party B decides to

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      exercise the Option, it shall issue to Party A an OPTION NOTICE (which
      form is attached as Appendix 2). Once the Option Notice is issued, Party A
      shall transfer to Party B and/or the company or person designated by Party
      B the Shares as stipulated on the Option Notice pursuant to this Agreement
      and the Option Notice.

4.5   Party A shall, within 60 days following the issuance of the Option Notice,
      assist Party B and/or the company or person designated by Party B to
      assist Party B and/or the company or person designated by Party B in
      completing all the Approval and the Registration procedures necessary for
      the transfer of the Shares from Party A to Party B and/or the company or
      person designated by Party B.

                    ARTICLE V REPRESENTATIONS AND WARRANTIES

5.1   Party A hereof represents and warrants to Party B and/or the company or
      person designated by Party B that as at the date of this Agreement and at
      the time when Party B and/or the company or person designated by Party B
      exercises the Option in accordance with this Agreement:

      5.1.1 Party A is a limited liability company organized and existing under
            the PRC Law;

      5.1.2 Party A has gone through all necessary corporate procedures and has
            obtained all necessary authorizations and consents for the execution
            and performance of this Agreement;

      5.1.3 Party A has paid up all its proportionate capital contribution in
            Tech JV and AdCo and Party A owns 1% of the total issued and
            outstanding equity interest in Tech JV and 20% of the total issued
            and outstanding equity interest in AdCo, and Party B has no
            obligation to contribute any contributions to Tech JV or AdCo after
            Party B acquires the Shares;

      5.1.4 Party A represents and warrants that, the Shares it owns in Tech JV
            and AdCo are free from any option, pledge, or any other security
            interests or encumbrance with the same legal effect, or any
            undertakings or obligations of the foresaid encumbrance, and no
            option, pledge, or any other security interests or encumbrance with
            the same legal effect, or any undertakings or obligations of the
            foresaid encumbrance may be set on such Shares Party B's written
            consent; and without Party B's written consent, Party A shall not
            transfer any of the Shares it owns in Tech JV or AdCo to any third
            party;

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      51.5  the execution and performance of this Agreement will not cause Party
            A to violate any of its obligations in any legal binding documents
            that Party A is a party, or constitutes a violation of the PRC Law
            and/or any injunction or order or decree of any court, arbitration
            tribunal or administrative agency; and

      5.1.6 no litigation, arbitration, governmental investigation, penalty or
            other similar material events is pending upon or is threatened to be
            initiated against Party A, which has or would have an adverse effect
            upon the matters stipulated hereof.

5.2   Party B hereof represents and warrants to Party A that as at the date of
      this Agreement:

      5.2.1 Party B is a limited liability company organized and existing under
            the laws of the British Virgin Islands; and

      5.2.2 the execution and performance of this Agreement will not cause Party
            B to violate any of its obligations in any legal binding documents
            that Party B is a party, or constitutes a violation of any
            injunction or order or decree of any court, arbitration tribunal or
            administrative agency.

                              ARTICLE VI INDEMNITY

6.1   If Party B hereto discovers, after the Shares have been transferred to
      Party B and/or the company or person designated by Party B in accordance
      with this Agreement, that any of the representations and warranties made
      by Party A under this Agreement is false or inaccurate, then Party B has
      the right to request Party A to correct or cure the false or inaccurate
      circumstance so that the non-conforming circumstance is consistent with
      the applicable representations and warranties hereof. In the event that
      Party A is unable to correct or cure such non-conforming circumstance by
      then, Party B shall have the right to cure the foresaid situation and any
      costs and expenses incurred shall be borne by Party A, and Party A shall
      also be liable for any and all losses and costs that Party B and/or the
      company or person designated by Party B has suffered in connection with or
      arising from the aforementioned false or inaccurate representation and/or
      warranties made by Party A.

6.2   If any party hereto defaults or violates any of its obligations hereof,
      the defaulting party shall compensate the non-defaulting party for any
      loss incurred or suffered by the non-defaulting party in connection with
      or arising from the aforementioned defaults or violations.

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                           ARTICLE VII CONFIDENTIALITY

7.1   Unless otherwise stipulated hereof, Party A and Party B shall use their
      best endeavors to keep the following information in confidential, (1) any
      business information in connection with the other party which was obtained
      from the execution and performance of this Agreement, (2) any contents
      hereof and (3) matters in connection with any potential cooperation the
      parties may have. Any Party hereof shall limit its employees, agents and
      others to obtain the foresaid information only when it is necessary to
      perform the responsibilities and obligations of this Agreement.

7.2   Parties hereof shall cause its directors, officers and other employees and
      the directors, officers and other employees of any of its affiliates to
      abide by this clause.

                        ARTICLE VIII FORCE MAJEURE EVENT

8.1   Force Majeure Event shall refer to any uncontrollable, unforeseeable or
      unpreventable event of either party or both parties hereof, occurred after
      the date of this Agreement, which caused any party hereof unable to
      perform all or part of this Agreement, including without limitation
      explosion, fire, flood, earthquake, or other God act, and war, riots, or
      government act.

8.2   In the event of occurrence of Force Majeure Event, the party affected by
      the event shall promptly notify the other party without any delay and
      shall, within fifteen (15) days of the occurrence of the Force Majeure
      Event, provide a detailed report evidencing the same. The party affected
      by the Force Majeure Event shall take all appropriate means to eliminate
      the effect of the Force Majeure Event or minimize the loss to the other
      party. Both parties shall decide to postpone or terminate the performance
      of the Agreement, or waive part or all obligations and responsibilities of
      the affected party based on the effect of the Force Mejeure Event.

                            ARTICLE IX GOVERNING LAW

9.1   The execution, effectiveness, interpretation and performance of this
      Agreement and the disputes resolution in connection with this Agreement
      shall be governed by the PRC Law.

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                          ARTICLE X DISPUTES RESOLUTION

10.1  All disputes arising from or in connection with this Agreement shall be
      resolved through friendly consultation between both parties hereof. If
      such dispute has not been settled within thirty (30) days after the
      consultation, either party may submit the dispute to China International
      Economic and Trade Arbitration Commission ("CIETAC") in Beijing for
      arbitration in accordance with then effective arbitration rules of CIETAC.
      The arbitration award shall be final and binding upon both parties hereto.

10.2  CIETAC as stipulated in Article 10.1 shall decide on which party bears the
      arbitration costs.

10.3  During the disputes, both parties hereto shall continue to perform the
      duties and obligations under this Agreement not the subject of the
      disputes.

                            ARTICLE XI EFFECTIVENESS

11.1  This Agreement shall become effective upon the date when the respective
      authorized representative of Party A and Party B executes and signs on
      this Agreement. The term of this Agreement is ten (10) years. Upon a
      written agreement between both parties, this term may be extended
      afterwards.

                               ARTICLE XII NOTICE

12.1  Any notice made under this Agreement shall be delivered to the other party
      by hand, facsimile or registered airmail. Seven (7) days of the postmark
      shall be deemed to be the date of the receipt if delivered by airmail, and
      the date of the delivery of a notice if delivered by hand. In the event
      that the notice is sent by facsimile, after the notice is sent by
      facsimile, the original copy shall be delivered to the other party by
      registered airmail or by hand.

              ARTICLE XIII LANGUAGE, COUNTERPARTS AND MISCELLANEOUS

13.1  This Agreement may not be changed, modified or amended in any way except
      by a written agreement agreed and signed by both parties.

13.2  In the event that any provision under this Agreement becomes ineffective,
      invalid or otherwise unenforceable, the effectiveness, validity and
      enforceability of other provisions hereunder shall not be affected or
      otherwise damaged, provided that both parties hereto shall immediately
      cease the performance of such ineffective, invalid or unenforceable
      provision, and correct

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      such provision, to the extend that such correction is the most close to
      the original intent of such provision, until such provision becomes
      effective, valid and enforceable.

13.3  This Agreement shall be written in two (2) counterparts in Chinese, one
      (1) for Party A and one (1) for Party B.

13.4  Party A and Party B shall cause their respective authorized representative
      to execute and sign on this Agreement as of the day and year first above
      written.

PARTY A
BEIJING QIAN CHENG SI JIN ADVERTISING COMPANY LIMITED

By:__________________________
Name: Feng Lei

PARTY B
51NET.COM INC.

By:______________________
Name: Rick Yan

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                         APPENDIX I CONFIRMATION LETTER

To: Beijing Qian Cheng Si Jin Advertising Company Limited ("Party A")
    51net.com Inc. ("Party B")

Whereas, Party A and Party B has executed and signed on the Call Option
Agreement, in which Party A grants to Party B and/or the company or person
designated by Party B the option to acquire 20% equity interest in Shanghai
Qianjin Culture Communication Communication Company Limited ("AdCo") owned by
Party A ("Option"), and we, Qianjin Network Information Technology (Shanghai)
Company Limited as a shareholder holding 80% equity interests in AdCo hereof
confirm the following:

      1.    we agree that Party A grants to Party B and/or the company or person
            designated by Party B the option to acquire 20% equity interests in
            AdCo;

      2.    in the event that Party B exercises or designates other company or
            person rather than us to exercise the Option, we hereby waive the
            first right of refusal;

      3.    if, when Party B exercises the Option, the PRC Law requires Party B
            to hold at least 25% equity interests in AdCo, then we hereof agree
            transfer part of the equity interests we owned in AdCo to satisfy
            such requirement;

      4.    we hereof undertakes that, in order to adjust the equity ratio of
            all shareholders in AdCo, we will sign share transfer agreements and
            other documents with Party B and/or other company or person
            designated by Party B who exercise the Option;

      5.    we will use our best efforts to cause AdCo to obtain any approval
            from the relevant PRC authorities regarding the share transfer, and
            complete the registration in change at the administration for
            industry and commerce; and

      6.    after the execution of the Option Agreement, we will not, without
            Party B's written consent, (i) transfer the Shares to any third
            party or impose any pledge on the Shares, or otherwise dispose the
            Shares; (ii) conduct any acts or nonfeasance which may cause any
            loss to the Option and/or any decrease in value of the equity
            interests held by Party A; (iii) establish or otherwise cooperate
            with others as a dormant partner or in a different name to establish
            a company conducting same or similar business with the business of
            AdCo.

Shareholder:
Qianjin Network Information Technology (Shanghai) Company Limited
Date:

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                            APPENDIX II OPTION NOTICE

To:   Beijing Qian Cheng Si Jin Advertising Company Limited

To Whom It May Concern:

In accordance with the Call Option Agreement entered into by and between Beijing
Qian Cheng Si Jin Advertising Company Limited and us, 51net.com Inc., we hereof
inform that we decide to exercise / designate [ ] to exercise [all] or [(__)%
of] the Option.

51net.com Inc.

By: ________________________
Authorized representative:
Title:
Date:

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                       AMENDMENT TO CALL OPTION AGREEMENT

Beijing Qian Cheng Si Jin Advertising Company Limited ("Party A") and 51net.com
Inc. ("Party B") made and entered into the Call Option Agreement ("Option
Agreement") on August 1, 2002 and the Supplement to Call Option Agreement
("Supplemental Agreement") on May 3, 2004. Party A and Party B hereto agree to
enter this agreement as an amendment to the Option Agreement and the
Supplemental Agreement ("Amendment Agreement") as of May 3, 2004, as follows:

1.    Article 3.1 of the Option Agreement provided that "Party A and Party B
      hereof agree that, for the Option granted by Party A and for the 1% of the
      total issued and outstanding shares of Tech JV and 20% of the total issued
      and outstanding shares of AdCo acquired from Party A, Party B will pay
      Party A in the total amount of RMB1.2 Million as consideration"

      The Parties hereby agree that the above provision should be amended as:

      "Party A and Party B hereof agree that, for the Option granted by Party A
      and for the 1% of the total issued and outstanding shares of Tech JV and
      20% of the total issued and outstanding shares of AdCo acquired from Party
      A, Party B will pay Party A an aggregate amount of RMB1.2 Million as
      consideration. If Party B and/or its designated company or individual
      fails to obtain the approval to acquire the foresaid shares at such price
      under the then applicable PRC laws, the Parties agree that Party B and/or
      its designated company or individual will purchase the foresaid shares at
      the lowest price to the extent permitted by the then applicable PRC laws."

2.    Other provisions under the Option Agreement and the Supplemental Agreement
      shall remain effective.

3.    This Amendment Agreement is a part of the Option Agreement and the
      Supplemental Agreement and shall have the same legal effect.

4.    This Amendment Agreement becomes effective upon the day of execution by
      the respective authorized representative of Party A and Party B.

Party A: Beijing Qian Cheng Si Jin Advertising Company Limited

By:   ______________________________

Name:

Title:

Party B: 51net.com Inc.

By:   ______________________________

Name:

Title:

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                       SUPPLEMENT TO CALL OPTION AGREEMENT

Beijing Qian Cheng Si Jin Advertising Company Limited ("Party A") and 51net.com
Inc. ("Party B") made and entered into the Call Option Agreement ("Option
Agreement") on August 1, 2002. Party A and Party B hereto agree to enter this
agreement as a supplement to the Option Agreement ("Supplemental Agreement") as
follows:

1.    Party A agrees to grant Party B and/or the company or individual
      designated by Party B the option to purchase all the equity interest held
      by Party A in the following companies: (i) 30% equity interest in Wuhan
      Mei Hao Qian Cheng Advertising Company Limited, (ii) 10% equity interest
      in each of the following companies: Dalian Mei Hao Qian Cheng Advertising
      Company Limited, Hangzhou Mei Jin Advertising Company Limited, Chongqing
      Qian Cheng Wu You Advertising Company Limited, Kunming Mei Hao Qian Cheng
      Advertising Company Limited, Shanghai Cheng An Human Resources Company
      Limited, Shanghai Wang Cai Trading Company Limited, and Hefei Wu You
      Culture Communication Company Limited, (iii) all equity interest to be
      held by Party A in any entities which Party A may establish in the future.

2.    Party A and Party B hereto agree that the price to be paid by Party B
      and/or the company or individual designated by Party B in consideration of
      the equity interest set forth in clause 1 above shall be the lowest price
      permitted under the laws.

3.    All the provisions under the Option Agreement shall apply to all matters
      hereunder, unless otherwise provided herein.

4.    Shanghai Qianjin Culture Communication Company Limited, another
      shareholder of the companies listed in (1) and (2) in Clause 1 above, has
      agreed to the grant of option to Party B by Party A in accordance with the
      Option Agreement and this Supplemental Agreement. The confirmation issued
      by Shanghai Qianjin Culture Communication Communication Company Limited is
      attached hereto as Appendix A.

5.    This Supplementary Agreement is a part of the Option Agreement and shall
      have the same legal effect.

6.    This Supplementary Agreement becomes effective upon the day of execution
      by the respective authorized representative of Party A and Party B.

Party A:  Beijing Qian Cheng Si Jin Advertising Company Limited

By:   ______________________________

Name:

Party B:  51net.com Inc.

By:   ______________________________

Name:

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                             APPENDIX A CONFIRMATION

To:   Beijing Qian Cheng Si Jin Advertising Company Limited ("Party A")
      51net.com Inc. ("Party B")

Whereas, Party A and Party B entered into the Call Option Agreement on August 1,
2002, and the Supplemental Agreement on May 3, 2004 (hereinafter referred to
collectively as the "Agreement"), whereby Party A grants Party B and/or the
company or individual designated by Party B the option to purchase all the
equity interest held by Party A in the following companies: (i) 30% equity
interest in Wuhan Mei Hao Qian Cheng Advertising Company Limited, (ii) 10%
equity interest in each of the following companies: Dalian Mei Hao Qian Cheng
Advertising Company Limited, Hangzhou Mei Jin Advertising Company Limited,
Chongqing Qian Cheng Wu You Advertising Company Limited, Kunming Mei Hao Qian
Cheng Advertising Company Limited, Shanghai Cheng An Recruitment Services
Company Limited, Shanghai Wang Cai Trading Company Limited, and Hefei Wu You
Culture Communication Company Limited, and (iii) all equity interest to be held
by Party A in any entities which Party A may establish in the future.

NOW, THEREFORE, as the shareholder of the foresaid companies ("Subsidiaries")
listed in Items (1) and (2) above, we, Shanghai Qianjin Culture Communication
Company Limited hereof confirm the following:

1.    we agree to the grant of the foresaid option by Party A to Party B and/or
      the company or individual designated by Party B;

2.    in the event that Party B exercises or designates other company or
      individual other than us to exercise the option, we hereby waive the first
      right of refusal to purchase such equity interest;

3.    we hereby undertake that, in order to adjust the equity ratio of the
      shareholders in such Subsidiaries, we will enter into share transfer
      agreements and other documents with Party B and/or other company or
      individual designated by Party B who exercise the option;

4.    we will use our best efforts to cause such Subsidiaries to obtain the
      approval of relevant PRC authorities regarding the share transfer, and
      complete the registration procedures for any change with the
      administration for industry and commerce; and

5.    we will not, without Party B's written consent, (i) transfer the equity
      interest to any third party or create any pledge on the equity interest,
      or otherwise dispose of the equity interest; (ii) conduct any acts or
      omissions which may hamper the option and/or decrease the value of the
      equity interest held by Party A.

Shareholder: Shanghai Qian Jin Culture Communication Company Limited
By:          ______________________________
Date:        May 3, 2004

                                        2<PAGE>
                                                                   EXHIBIT 10.14

                       EQUITY INTEREST TRANSFER AGREEMENT

This Equity Interest Transfer Agreement ("AGREEMENT") is made and entered into
as of April 5, 2004 by and between:

51NET.COM, INC. ("TRANSFEROR"), a company organized under the laws of the
British Virgin Islands, with its registered office at c/o P.O. Box 957, Offshore
Incorporation Centre, Road Town, Tortola, British Virgin Islands, and its legal
representative as ZHEN Rong Hui;

WUHAN MEI HAO QIAN CHENG ADVERTISING COMPANY LIMITED ("TRANSFEREE"), a company
organized under the laws of the People's Republic of China, with its registered
office at Room 4202 World Trade Building, 344 Jie Fang Avenue, Jianghan
District, Wuhan, and its legal representative as FENG Lei, and a part of equity
interests of the Transferee controlled, indirectly, by Qian Jin Network
Information Technology (Shanghai) Company Limited.

WHEREAS:

1.    Qian Jin Network Information Technology (Shanghai) Company Limited
      ("COMPANY"), a Chinese-Foreign joint venture company organized under the
      laws of the People's Republic of China by the Transferor and Beijing Qian
      Cheng Si Jin Advertising Company Limited ("QIAN CHENG SI JIN"), of which
      the registered capital is US$5,000,000.00, with its registered office at
      Suite 2307 Lucky Mansion, 660 Shangcheng Road, Pudong New District,
      Shanghai, China, with its business license number of Qihehupuzongfuji
      No.314997 (Pudong), with its legal representative of ZHEN Ronghui, and the
      Transferor and Qian Cheng Si Jin owns 99% and 1% equity interests of the
      Company, respectively;

2.    Transferor agrees to transfer to the Transferee, and the Transferee agrees
      to accept 48% equity interests of the Company owned by the Transferor;

3.    Qian Cheng Si Jin has waived its first right of refusal for the aforesaid
      48% equity interests of the Company, and agrees that the Transferee may
      purchase the aforesaid equity interests as set out in the Consent Letter
      provided in Appendix I;

4.    After the Transferee obtains the aforesaid equity interests from the
      Transferor, upon the approval of relevant approval authorities and the
      terms, conditions, and of the transaction comply with the requirements of
      the Transferor, then subject to the laws of the PRC the Transferor has the
      right to redeem the aforesaid equity interests obtained by the Transferee
      in accordance with this Agreement, and the Transferee shall warrant to the
      Transferor that it will transfer the aforesaid equity interests to the
      Transferor by then.

<PAGE>

NOW THERFORE, in accordance with the relevant PRC laws and regulations, through
friendly consultations, and based on a principle of mutual benefits, the parties
hereof agree as follows:

                              ARTICLE I DEFINITION

1.1   Unless otherwise defined above or below, the following terms shall have
      the following meanings:

"SHARE" or "EQUITY INTEREST" means the equity interest which investor holds by
contributing to the registered capital of the company or purchasing or otherwise
lawfully acquiring the capital contribution of the original investor of the
company. The percentage of the equity shares held by a shareholder in the
Company shall be equal to his or her proportionate contribution to the
registered capital of the company;

"REDEMPTION" means, after the Transferor transfers the 48% equity interests of
the Company in accordance with this Agreement, Transferor and/or its designee
redeems the aforesaid equity interests transferred to Transferee in accordance
with this Agreement, upon the approval of the relevant approval authorities and
subject to PRC laws;

"PRC LAWS" means all the laws, regulations and decisions made and promulgated by
any PRC legislature, and all the administrative regulations, rules and measures
and other binding official documents;

"APPROVAL" means any approval, consent, license, permit obtained from and/or
issued by any PRC administrative authority in accordance with the PRC Law,
including but not limited to the approval of the administration for commerce
regarding the establishment of foreign invested enterprises ("FIE") and any
changes thereof;

"REGISTRATION" means any application in accordance with PRC Law for legal
registration with relevant PRC authorities, including but not limited to the
registration with a relevant administration for industry and commerce for the
establishment and change of the FIEs;

"PRC" means the People's Republic of China;

"US DOLLAR" or "US$" or "USD" means the legal currency of the United States;

"RENMINBI" or "RMB" means the legal currency of the People's Republic of China;

"PARTY" means any party of this Agreement and "PARTIES" mean the Transferor and

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the Transferee collectively.

1.2   Unless otherwise defined, references to articles, clauses, and Appendix
      are to the articles, clauses of and appendix to, this Agreement.

1.3   Headings are for ease of reference only and shall not affect the
      interpretation of this Agreement.

                           ARTICLE II SHARE TRANSFER

2.1   Transferor hereof agrees to transfer 48% equity interests of the Company
      and the relevant rights and benefits attached to the Shares to the
      Transferee in accordance with the terms and conditions hereof, and the
      Transferee agrees to accept such Shares. After the completion of the Share
      transfer, the Transferor will hold 51% equity interests of the Company and
      Qian Cheng Si Jin will hold 1% equity interest of the Company.

                ARTICLE III TRANSFER PRICE AND REGISTERED CAPITAL

3.1   Parties hereof agree that, for the 48% equity interests transferred to the
      Transferee, Transferee shall pay Transferor RMB1,000,000.00. After the
      completion of the transfer, the registered capital of the company will
      remain the same.

                        ARTICLE IV COMPLETION AND PAYMENT

4.1   Parties hereof agree that, upon the date when all the conditions as
      provided hereunder are fulfilled, the Transferee will hold the 48% equity
      interests originally owned by the Transferor, after which the Transferor
      holds 51% equity interests, and the Transferee holds 48% equity interests
      of the Company, and the Parties shall enjoy the respective rights and bear
      respective responsibilities in accordance with their proportionate equity
      interest ratio:

      (a)   Approval regarding this Agreement having been issued by the relevant
            approval authority;

      (b)   relevant industry and commerce administration registration
            procedures regarding the Share transfer as provided hereof having
            been completed.

4.2   Transferee agrees that it will submit the entire transfer price as
      provided in Article 3.1 within three (3) months upon the execution of this
      Agreement.

                                       3
<PAGE>

                 ARTICLE V REDEMPTION OBLIGATION UPON COMPLETION

5.1   Parties hereof agree that, after the Transferee obtains 48% equity
      interests of the Company from the Transferor in accordance with this
      Agreement, subject to PRC Law and upon the Approval of the relevant
      authority, Transferor and/or its designee shall, at any time within the
      effective term of this Agreement, redeem the 48% equity interests from the
      Transferee in a lump sum or in installments in accordance with this
      Agreement and other agreements entered into by the Parties, in the event
      that Transferor is satisfied with the terms and conditions of the
      transaction. Transferee warrants to agree to transfer the Share to the
      Transferor and/or its designee.

5.2   Upon the redemption described above by the Transferor and/or its designee,
      the Transferor and/or its designee shall issue a written notice for the
      Share Redemption. Upon the issuance of the notice, Transferee shall
      transfer the Shares as set out in the notice to the Transferor and/or its
      designee in accordance with this Agreement, the notice and other
      agreements entered into by the Parties.

5.3   Transferee shall, within 60 days of the issuance of the written Redemption
      notice of the Transferor and/or its designee, assist the Transferor and/or
      its designee to complete all necessary Approval and Registration
      procedures for the Redemption of Shares that are held by the Transferee.

                    ARTICLE VI REPRESENTATIONS AND WARRANTIES

6.1   Transferor hereof undertakes and warrants that:

      (a)   it is a company duly organized and validly existing under the laws
            of the British Virgin Islands;

      (b)   at the time of the execution of this Agreement, it owns 99% equity
            interests of the Company, and it has full right, power and
            authorization to execute and perform this Agreement;

      (c)   at the time of the execution of this Agreement, the equity interests
            it owns in the Company are free from any mortgage, pledge, or any
            other security interests or encumbrance in other forms, or any
            undertakings of similar third party interests;

      (d)   after its authorized representative executes this Agreement, the
            provisions hereof shall constitute the legal, effective and
            enforceable

                                       4
<PAGE>

            obligations upon the Transferor;

      (e)   neither the execution of this Agreement, nor the performance of the
            obligations under this Agreement, conflicts or violates any laws and
            regulations or any governmental or administrative approval, or any
            agreement entered into between Transferor and any third party;

      (f)   to its knowledge, no litigation, arbitration, or governmental,
            administrative or other investigation, or governmental investigation
            is pending or is threatened to be initiated, which is related to the
            matters hereof, or would have an adverse effect upon the execution
            or the performance of this Agreement; and

      (g)   it has disclosed all the documents related to the transaction
            stipulated hereof which are owned and controlled by the Transferor,
            and the documents it provided do not contain any false statements
            and representations or omissions as to the material matters.

6.2   Transferee hereof undertakes and warrants that:

      (a)   it is a company duly organized and validly existing under the PRC
            laws;

      (b)   it has full right, power and authorization to execute and perform
            this Agreement, and it has all the right, authorization, and
            approvals to fully perform each of its obligations under this
            Agreement;

      (c)   after its authorized representative executes this Agreement, the
            provisions hereof shall constitute the legal, effective and
            enforceable obligations upon the Transferee;

      (d)   neither the execution of this Agreement, nor the performance of the
            obligations under this Agreement, conflicts or violates any laws and
            regulations or any governmental or administrative approval, or any
            agreement entered into between Transferee and any third party;

      (e)   to its knowledge, no litigation, arbitration, or governmental,
            administrative or other investigation, or governmental investigation
            is pending or is threatened to be initiated, which is related to the
            matters hereof, or would have an adverse effect upon the execution
            or the performance of this Agreement; and

      (f)   it has disclosed all the documents related to the transaction
            stipulated hereof which are owned and controlled by the Transferee,
            and the

                                       5
<PAGE>

            documents it provided do not contain any false statements and
            representations or omissions as to the material matters.

                 ARTICLE VII LIABILITIES FOR BREACH OF CONTRACT

7.1   Occurrence of any of the following circumstances constitutes a breach to
      this Agreement:

      (a)   breaching of any provisions hereof;

      (b)   violation of any statements, warranties or undertakings made in this
            Agreement, or the making of any false or inaccurate representations,
            warranties or undertakings hereof; and

      (c)   transfer any rights and obligations under this Agreement without the
            other Party's prior written consent.

7.2   Except as stipulated in Article 7.3 hereof, in the event that any Party
      commits any default or breach of the provisions in Article 7.1, the other
      Party has the right to request the breaching Party for the compensation
      for any losses and damages caused by such breach.

7.3   Except as stipulated in Article 7.2, if the Transferee fails to fulfill
      its obligations for the entire payment of the transfer price as stipulated
      in Article 3.1 hereof, then the Transferor shall have the right to either
      redeem the Share as provided in Article 5 hereof, or terminate this
      Agreement without any compensation to the Transferee, which shall not
      affect the Transferor's rights to request compensation from the Transferee
      for any losses caused by the Transferee's breach.

                          ARTICLE VIII CONFIDENTIALITY

8.1   Either Party shall be obligated to keep confidential all the commercial
      information in any form whatsoever in connection with the other Party
      obtained from the other Party for the execution and performance of this
      Agreement, including any content of this Agreement and other cooperation
      matters proposed by the Parties. Either Party may disclose the aforesaid
      information to its employee, agent, distributor, supplier, and advisor
      (including its accountant and attorneys) as necessary to perform its
      obligations under this Agreement.

8.2   This clause does not apply to the disclosure of the following commercial
      information:

                                       6
<PAGE>

      (a)   that which is available and accessible to the public at the time of
            disclosure;

      (b)   that which is available and accessible to the public after
            disclosure for any reason other than the receiving party's fault;

      (c)   that which the receiving party can prove was in the possession of
            the receiving party prior to the disclosure of such information, and
            not obtained directly or indirectly from the other party; or

      (d)   that which is obligated to be disclosed to relevant government
            authorities, or stock exchange market in accordance with the laws,
            or disclosed to its immediate attorneys or financial advisors as
            needed in the ordinary course of business.

8.3   Parties shall cause its director, officer, and other employee and the
      director, officer and other employee of its subsidiary (if any) to comply
      with the obligations under this confidentiality clause, and shall request
      certain key employees to execute confidentiality agreements.

                         ARTICLE IX FORCE MAJEURE EVENT

9.1   The Force Majeure Event refers to events uncontrollable or unforeseeable
      by either Party hereof, or foreseeable but unpreventable by either Party,
      and which occurs after the date of execution of this Agreement causing
      either Party to be unable to completely or partially fulfill any
      stipulation hereof. The Force Majeure Event includes but is not limited to
      strike, riot, explosion, fire, earthquake, and other acts of God, war,
      civil disturbance, vandalism, expropriation, confiscation, governmental
      acts, any change in law, or failure to obtain the approval from the
      government authority for any reason other than the fault of either Party,
      and other major or sudden event.

9.2   In the event of a Force Majeure Event, the party affected by such event
      shall immediately notify the other party, and shall provide a detailed
      written report within fifteen (15) days of the occurrence of the event.
      The party affected by the event shall take all appropriate measures to
      eliminate or minimize the effect of the Force Majeure Event and minimize
      the loss to the over party arising thereof. Parties shall, in accordance
      with the effects of the event upon the performance of this Agreement,
      determine whether to terminate this Agreement, or postpone the performance
      of this Agreement, or waive in part or whole the obligations of the party
      affected under this Agreement.

                                       7
<PAGE>

                             ARTICLE X EFFECTIVENESS

10.1  This Agreement shall become effective after the respective authorized
      representative execute this Agreement and/or affix the company seals on
      this Agreement and upon the approval of relevant competent authorities.
      The term of this Agreement is ten (10) years, and it may be extended upon
      the agreement of the Parties in writing.

                              ARTICLE X TERMINATION

11.1  This Agreement shall terminate upon the occurrence of any of the following
      circumstances:

      (a)   in the event that Parties reach the agreement in writing;

      (b)   in the event that either Party ("Defaulting Party") violate any
            provision hereunder, and upon the receipt of a default notice from
            the other Party ("Non-Defaulting Party"), the violation has not been
            cured within the time stipulated by the notice;

      (c)   in the event of any false or inaccurate statement and representation
            by either party;

      (d)   in the event that this Agreement becomes void and null, or
            unenforceable, or is announced to be void and null, or enforceable,
            or is required to be amended by any government authority and such
            amendment is not acceptable to either Party;

      (e)   in the event that the Transferee fails to pay the entire transfer
            price in accordance with Article 3.1 and 4.2, or in the event of any
            bankruptcy, liquidation, dissolution, suspension or cessation of
            business, or insolvency occurring to Transferee;

      (f)   in the event that the occurrence or effect of a force majeure event
            adversely affects the ability of either Party to perform this
            Agreement, and the Parties fail to find a reasonable solution to
            solve the matter within thirty (30) days of the occurrence of the
            force majeure event.

11.2  In the event of an occurrence stipulated in Article 11.1(a), (b), (e) or
      (g), any Party has the right to terminate this Agreement with a written
      notice to the other Party; in the event of the occurrence stipulated in
      the foresaid Article

                                       8
<PAGE>

      11.1(c), or (d), then only the Non-Defaulting Party has the right to
      terminate this Agreement with a written notice to the other Party; and in
      the event of the occurrence of the foresaid Article 11.1(f), then only the
      Transferor has the right to terminate this Agreement with a written notice
      to the other Party.

11.3  The termination notice becomes effective on the fifteen (15) days after
      the notice is served to the noticed party as stipulated in Article 13.

11.4  In the event of the termination of this Agreement for a reason as set out
      in this Article 11, then:

      (a)   either Party shall return any shares or share transfer price
            obtained from the other Party as a result of the performance of this
            Agreement;

      (b)   the Party at fault shall compensate the other Party for any losses
            caused due to its fault, and in the event that both Parties are at
            fault, each Party shall compensate the other Party to the extent of
            its respective fault liability.

11.5  The right to termination this Agreement under this Article 11 shall not
      adversely affect any other rights or remedies available under this
      Agreement to the party requesting the termination.

                ARTICLE XII GOVERNING LAW AND DISPUTES RESOLUTION

12.1  The execution, effectiveness, interpretation, performance, and
      enforceability of this Agreement, and dispute resolution in connection
      with this Agreement shall be governed by PRC Law.

12.2  Any disputes arising from the interpretation or performance of this
      Agreement shall be resolved through friendly consultations between the
      Parties hereof. If such dispute has not been settled within sixty (60)
      days after commencement of friendly consultation, or within a longer
      period of time as agreed to by the Parties, either Party may submit the
      dispute to China International Economic and Trade Arbitration Commission
      ("CIETAC") in Beijing for arbitration in accordance with then effective
      arbitration rules of CIETAC. The arbitration award shall be final and
      binding upon both parties hereto. During the course of any dispute or
      arbitration of any dispute, both parties hereto shall continue to perform
      the duties and obligations under this Agreement not the subject of the
      disputes.

                                       9
<PAGE>

                               ARTICLE XIII NOTICE

13.1  Any notice hereunder shall be delivered by hand or via facsimile or
      registered airmail to the following addresses and numbers, unless a Party
      has notified the other Party of its changed addresses and numbers. Notices
      sent by registered airmail shall be deemed as being effectively served on
      the fifth day after the date dispatched. Notices delivered by hand or sent
      via facsimile shall be deemed as being effectively served on the next day
      after the delivery or transmission. If transmitted by facsimile, the
      original copy of the notices shall be sent by registered airmail or
      delivered by hand to the other Party immediately after the transmission.

      TRANSFEROR: 51NET.COM INC.
      Address: Suite 2602, The Center, 99 Queen's Road Central, Hong Kong
      Attention: Rick Yan
      Phone Number: 852-29077880
      Facsimile:    852-29077881

      TRANSFEREE: WUHAN MEI HAO QIAN CHENG ADVERTISING COMPANY LIMITED
      Attention: Mr. FENG Lei
      Address: c/o Zhaoshangju Building 32F, 118 Jianguo road, Chaoyang
      District, Beijing
      Postal Code: 100022
      Phone Number: 8610-65669393
      Facsimile:    8610-65669199

                            ARTICLE XIV MISCELLANEOUS

14.1  This Agreement may not be changed, modified or amended without the written
      agreements between the Parties signed by the authorized representatives,
      after which the amendment shall become an integral part of this Agreement
      and shall have the same legal effect upon the approval from the original
      approval authority.

14.2  Any tolerance or allowance granted by one Party to the other Party for any
      breach caused by the other Party, or any postponement in the exercise of a
      right or power enjoyed hereunder by one Party for the breach caused by the
      other Party, shall not be deemed as a waiver of such Party's rights and
      power and shall not prejudice, affect or otherwise restrict other rights
      and power enjoyable by such Party in accordance with this Agreement and
      relevant PRC

                                       10
<PAGE>

      laws and regulations. Any separate or partial exercise of any rights,
      power or remedies enjoyed by one Party hereunder shall not prejudice such
      Party's further exercise of such right, power or remedy, and shall not
      prejudice such Party's exercise of other rights, powers or remedies.

14.3  The invalidity, nullity and unenforceability of any provision hereof shall
      not affect or prejudice the validity, effectiveness and enforceability of
      other provisions hereof. However, the Parties hereto shall cease the
      performance of such invalid, null and unenforceable provision and shall
      avoid the effects of such invalidity, nullity, and unenforceability to
      this Agreement to the maximum extent, as in accordance with the purposes
      of this Agreement.

14.4  This Agreement shall be transcribed in Chinese, written in five (5)
      counterparts, each Party shall hold one counterpart and the remaining
      copies shall be submitted to the approval authorities.

IN WITNESS WHEREOF, the Parties or their respective authorized representative
execute and sign this Agreement as of the day and year first above written.

TRANSFEROR: 51NET.COM, INC.

By: _____________________________
Authorized representative:

TRANSFEREE: WUHAN MEI HAO QIAN CHENG ADVERTISING COMPANY LIMITED

By: _____________________________
Authorized representative:

                                       11
<PAGE>

                            APPENDIX I CONSENT LETTER

To:   51net.com Inc.
      Wuhan Mei Hao Qian Cheng Advertising Company Limited

Regarding the 48% equity interests of Qian Jin Network Information Technology
(Shanghai) Company Limited owned and transferred by 51net.com Inc., we as a
shareholder of the joint venture company hereof waive our first right of refusal
for the aforesaid 48% equity interests, and we hereof agree for Wuhan Mei Hao
Qian Cheng Advertising Company Limited to purchase such shares.

Beijing Qian Cheng Si Jin Advertising Company Limited (seal)

_______________________________

Date: April 5, 2004

                                       12

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