Document:

EX-10.2

NEITHER THIS NOTE, NOR ANY SECURITIES  ISSUABLE UPON THE CONVERSION  HEREOF, HAS
BEEN  REGISTERED  UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE  "SECURITIES
ACT"),  OR ANY STATE  SECURITIES  LAWS AND MAY NOT BE  OFFERED,  SOLD,  PLEDGED,
ASSIGNED,  OR OTHERWISE  TRANSFERRED  UNLESS (1) A  REGISTRATION  STATEMENT WITH
RESPECT THERETO IS EFFECTIVE  UNDER THE SECURITIES ACT AND ANY APPLICABLE  STATE
SECURITIES LAWS, OR (2) THE COMPANY RECEIVES AN OPINION OF COUNSEL TO THE HOLDER
OF THIS NOTE OR SUCH  SECURITIES,  WHICH  COUNSEL  AND  OPINION  ARE  REASONABLY
SATISFACTORY TO THE COMPANY,  THAT THIS NOTE OR SUCH  SECURITIES,  RESPECTIVELY,
MAY  BE  OFFERED,  SOLD,  PLEDGED,   ASSIGNED,  OR  TRANSFERRED  IN  THE  MANNER
CONTEMPLATED  WITHOUT AN EFFECTIVE  REGISTRATION  STATEMENT UNDER THE SECURITIES
ACT OR APPLICABLE STATE SECURITIES LAWS.

                                PRINT DATA CORP.

         12% SENIOR SUBORDINATED CONVERTIBLE NOTE DUE DECEMBER 31, 2004

$250,000 DECEMBER 31, 2003
NEW YORK, NEW YORK

                  PRINT DATA CORP., a Delaware corporation (the "COMPANY"),  for
value received,  hereby promises to pay to PROFESSIONAL  TRADERS FUND, LLC, with
an address at 990 Stewart  Avenue,  Suite 420,  Garden City, New York 11530,  or
registered  assigns (the  "HOLDER"),  the principal  amount of TWO HUNDRED FIFTY
THOUSAND  UNITED STATES  DOLLARS  (US$250,000)  on the Maturity Date (as defined
below),  and to pay interest on the unpaid principal  balance hereof at the rate
(calculated  on the basis of a 360-day year  consisting of twelve 30-day months)
of 12% per annum from the date hereof (the  "Issuance  Date") until the Maturity
Date, subject to increase as provided herein in certain events. Accrued interest
on the unpaid principal balance hereof shall be payable quarterly in arrears and
on the Maturity  Date or upon the earlier  conversion or repayment of this Note,
in each  case in cash or  shares of common  stock of the  Company  (the  "COMMON
STOCK") at the option of the Holder,  as described herein. In no event shall any
interest to be paid  hereunder  exceed the maximum rate permitted by law. In any
such event,  this Note shall  automatically be deemed amended to permit interest
charges at an amount equal to, but no greater than,  the maximum rate  permitted
by law.

         1.   OFFERING; SUBSCRIPTION AGREEMENT; PRIORITY.

         This Note was issued by the Company in an offering (the  "OFFERING") of
$250,000 aggregate principal amount of 12% Convertible Notes (collectively,  the
"NOTES"), which Notes are convertible into shares of Common Stock. In connection
with the Offering,  each  purchaser of Notes  (collectively,  the "HOLDERS") has
executed and delivered a Subscription Agreement (each a "SUBSCRIPTION AGREEMENT"
and collectively, the "SUBSCRIPTION AGREEMENTS") to the Company.

<PAGE>

         2.   PAYMENTS.

         (a)  Subject to Section 8 hereof,  principal  of this Note shall be due
and payable in full on the Maturity Date. The "MATURITY  DATE" shall be December
31, 2004.

         (b) (i)  Subject  to  Section 8 hereof  and the  immediately  following
sentence,  interest on this Note shall  accrue from the date of issuance  hereof
to, but excluding,  the Maturity Date, at the rate of 12% per annum and shall be
payable in arrears on March 31, 2004, June 31, 2004, September 31, 2004 (each an
"INTEREST  PAYMENT  DATE"),  and on the Maturity  Date.  In the event that there
shall be an Event of Default (as hereinafter  defined),  from and after the date
of such Event of Default,  interest on this Note shall accrue at the rate of 15%
per annum.

             (ii) Subject to Section 8 hereof,  upon written  notice (the "SHARE
PAYMENT  NOTICE")  given by the Holder to the Company at least 30 days,  but not
more than 60 days,  prior to any Interest  Payment Date or the Maturity Date, as
applicable,  the interest on this Note payable on such Interest  Payment Date or
on the  Maturity  Date shall be paid by the  Company on such date in the form of
shares of Common Stock.  In the event that the Share  Payment  Notice shall have
been timely  given with  respect to any  Interest  Payment  Date or the Maturity
Date, as applicable, the number of shares of Common Stock issuable to the Holder
in lieu of the cash  payment of  interest  on this Note due and  payable on such
date shall equal the  quotient of (A) divided by (B),  where (A) equals the cash
payment of interest on this Note due and payable on such  Interest  Payment Date
or the Maturity Date, as applicable,  and where (B) equals the Conversion  Price
(as hereinafter defined).

         (c) If any Interest  Payment  Date or the Maturity  Date falls on a day
that is not a Business Day (as defined below),  the payment due on such Interest
Payment Date,  or the Maturity  Date,  as  applicable,  will be made on the next
succeeding  Business  Day with  the same  force  and  effect  as if made on such
Interest  Payment Date or the Maturity Date, as the case may be.  "BUSINESS DAY"
means  any day  which  is not a  Saturday  or  Sunday  and is not a day on which
banking  institutions are generally authorized or obligated to close in the City
of New York, New York.

         (d) The Company  may, at its option  during the period  terminating  90
days  from the date of  issuance  of this  Note,  prepay  all or any part of the
principal of this Note,  subject to the payment of the premium described in this
paragraph  (d).  All  payments  on this Note shall be  applied  first to accrued
interest hereon and the balance to the payment of principal hereof.  The penalty
for  prepayment  shall equal the product of (I)  multiplied  by (II),  where (I)
equals the sum of the  principal  amount of, and interest on, this Note to be so
prepaid, and where (II) equals 0.50.

         (e)  Payments of  principal  and interest on this Note shall be made by
check sent to the Holder's  address set forth above or to such other  address as
the Holder may designate for such purpose from time to time by written notice to
the Company,  in such coin or currency of the United States of America as at the
time of  payment  shall be legal  tender for the  payment of public and  private
debts.

                                      -2-
<PAGE>

         (f) The obligations to make the payments  provided for in this Note are
absolute  and   unconditional   and  not  subject  to  any   defense,   set-off,
counterclaim,  rescission,  recoupment,  or adjustment  whatsoever.  The Company
hereby  expressly   waives  demand  and  presentment  for  payment,   notice  of
non-payment,  notice of dishonor,  protest, notice of protest, bringing of suit,
and diligence in taking any action to collect any amount  called for  hereunder,
and shall be directly and primarily liable for the payment of all sums owing and
to be owing  hereon,  regardless of and without any notice,  diligence,  act, or
omission with respect to the collection of any amount called for hereunder.

         3.   RANKING OF NOTE.

         This Note  constitutes  senior  unsecured  indebtedness of the Company.
Notwithstanding  the  foregoing,  the payment of  principal  of, and accrued and
unpaid interest on, the Note is guaranteed pursuant to, and solely to the extent
of the Collateral  described in, the Guarantee and Security Agreement,  dated as
of December 31, 2003 (the "SECURITY AGREEMENT"),  between the Company and Orient
Financial Services Limited, Mr. Li Wing Kei and Emerging Growth Partners, Inc.

         4.   COVENANTS.

         The Company  covenants  and agrees with the Holder that, so long as any
amount  remains  unpaid on the  Notes,  unless the  consent of the  Holders of a
majority  of the  principal  of the  then  outstanding  Notes is  obtained,  the
Company:

         (a)  Shall  not pay  any  dividend  or make  any  distribution  on,  or
purchase,  redeem,  or retire,  any shares of its capital stock or any warrants,
options,  or other rights to reacquire any such shares,  except that the Company
may pay dividends payable solely in shares of its capital stock.

         (b) Shall deliver to each Holder:

             (i) as soon as available, and in any event within 45 days after the
end of each of the first three  quarterly  fiscal periods of each fiscal year of
the Company, consolidated statements of income, retained earnings, and cash flow
of the  Company,  for such period and for the period from the  beginning  of the
respective fiscal year to the end of such period,  and the related  consolidated
balance sheet of the Company and its  subsidiaries  as at the end of such period
setting  forth  in the  case of each  such  statement  in  comparative  form the
corresponding figures for the corresponding period in the preceding fiscal year,
accompanied  by a  certificate  of the chief  financial  officer of the Company,
which certificate shall state that (A) such financial  statements fairly present
in all material respects the financial position and results of operations of the
Company  and  its  subsidiaries,  all  in  accordance  with  generally  accepted
accounting  principles  consistently applied (other than footnote disclosures to
the extent  permitted by the  applicable  securities  laws and related rules and
regulations),  and (B) no Default (as  hereinafter  defined) has

                                      -3-
<PAGE>

occurred and is continuing or, if any Default has occurred and is continuing,  a
description thereof in reasonable detail and of the action the Company has taken
or proposes to take with respect thereto;

             (ii) as soon as available and in any event within 90 days after the
end of each  fiscal  year of the  Company,  consolidated  statements  of income,
retained  earnings,  and cash flow of the Company for such fiscal year,  and the
related consolidated balance sheet of the Company and its subsidiaries as at the
end of such fiscal  year,  setting  forth in the case of each such  statement in
comparative  form the  corresponding  figures for the preceding fiscal year, and
accompanied by (A) a report thereon of independent  certified public accountants
to the Company, which opinion shall state that such financial statements present
fairly,  in all  material  respects,  the  financial  position  and  results  of
operations  of the Company and its  subsidiaries  in conformity  with  generally
accepted accounting  principles  consistently  applied, and (B) a certificate of
the chief financial  officer of the Company stating that no Default has occurred
and is  continuing  or,  if any  Default  has  occurred  and  is  continuing,  a
description thereof in reasonable detail and of the action the Company has taken
or proposes to take with respect thereto;

             (iii)  promptly  after the Company shall obtain  knowledge of such,
written notice of all legal or arbitral  proceedings,  and of all proceedings by
or before any governmental or regulatory  authority or agency, and each material
development in respect of such legal or other proceedings, affecting the Company
and its subsidiaries,  except proceedings which, if adversely determined,  would
not have a material adverse effect on the Company and its subsidiaries  taken as
a whole; and

             (iv)  promptly  after the Company  shall  obtain  knowledge  of the
occurrence of any Event of Default (as  hereinafter  defined) or any event which
with notice or lapse of time or both would  become an Event of Default (an Event
of Default or such other event being a "DEFAULT"), a notice specifying that such
notice is a "NOTICE OF  DEFAULT"  and  describing  such  Default  in  reasonable
detail,  and, in such Notice of Default or as soon thereafter as practicable,  a
description of the action the Company has taken or proposes to take with respect
thereto.

         (c) The Company shall perform all obligations, and comply with the side
letter, dated December 31, 2003, from the Company to the Holder.

         5.   EVENTS OF DEFAULT.

         The occurrence of any of the following events shall constitute an event
of default (an "EVENT OF Default"):

         (a) A default in the payment of the principal on any Note,  when and as
the same shall become due and payable; or

                                      -4-
<PAGE>

         (b) A default in the payment of any  interest on any Note,  when and as
the same shall become due and payable,  which  default  shall  continue for five
business days after the relevant  Interest  Payment  Date,  subject to paragraph
2(c) hereof; or

         (c) A default in the performance,  or a breach, of any of the covenants
of the Company contained in this Note or contained in the Security Agreement and
the  continuance of such default or breach for a period of 30 days after receipt
of notice  from the Holder as to such  breach or after the Company had or should
have had knowledge of such breach; or

         (d) Any representation,  warranty, or certification made by the Company
pursuant to this Note, the Subscription  Agreements,  or the Security  Agreement
shall prove to have been false or misleading as of the date made in any material
respect; or

         (e) A final judgment or judgments for the payment of money in excess of
$1,000,000 in the aggregate shall be rendered against the Company by one or more
courts, administrative or arbitral tribunals or other bodies having jurisdiction
and the same shall not be discharged  (or  provision  shall not be made for such
discharge), or a stay of execution thereof shall not be procured, within 60 days
from the date of entry  thereof  and the Company  shall not,  within such 60-day
period, or such longer period during which execution of the same shall have been
stayed,  appeal  therefrom and cause the  execution  thereof to be stayed during
such appeal; or

         (f) The  entry of a decree  or  order  by a court  having  jurisdiction
adjudging  the Company  bankrupt or insolvent,  or approving a petition  seeking
reorganization,  arrangement, adjustment, or composition of or in respect of the
Company, under federal bankruptcy law, as now or hereafter  constituted,  or any
other applicable federal or state bankruptcy,  insolvency, or other similar law,
and the  continuance  of any such decree or order  unstayed  and in effect for a
period of 60 days; or the  commencement by the Company of a voluntary case under
federal bankruptcy law, as now or hereafter constituted, or any other applicable
federal or state bankruptcy, insolvency, or other similar law, or the consent by
it to the institution of bankruptcy or insolvency proceedings against it, or the
filing by it of a petition or answer or consent seeking reorganization or relief
under federal  bankruptcy law or any other  applicable  federal or state law, or
the  consent by it to the filing of such  petition  or to the  appointment  of a
receiver,  liquidator,  assignee, trustee,  sequestrator, or similar official of
the Company or of any substantial  part of its property,  or the making by it of
an assignment for the benefit of creditors, or the admission by it in writing of
its  inability  to pay its debts  generally as they become due, or the taking of
corporate action by the Company in furtherance of any such action; or

         (g) The Company shall have its Common Stock  suspended from trading on,
or delisted from, the Principal Trading Market for in excess of ten (10) trading
days.

         6.   REMEDIES UPON DEFAULT.

         (a) Upon the  occurrence of an Event of Default  referred to in Section
5(f), the principal  amount then  outstanding  of, and the accrued  interest on,
this Note,  together with the

                                      -5-
<PAGE>

Default Penalty (as hereinafter defined), shall automatically become immediately
due and payable without  presentment,  demand,  protest, or other formalities of
any kind,  all of which are hereby  expressly  waived by the  Company.  Upon the
occurrence  of an Event of  Default  referred  to in  Section  5(a) or (b),  the
Holder,  by notice in  writing  given to the  Company,  may  declare  the entire
principal  amount then  outstanding of, and the accrued  interest on, this Note,
together with the Default Penalty, to be due and payable  immediately,  and upon
any such  declaration the same shall become and be due and payable  immediately,
without presentation,  demand, protest, or other formalities of any kind, all of
which are expressly  waived by the Company.  Upon the  occurrence of an Event of
Default other than one referred to in Sections  5(a), (b) or (f), the Holders of
not less than 50% in principal amount of then  outstanding  Notes (excluding any
Notes held by or for the account of the Company or any affiliate of the Company)
may declare the principal  amount then  outstanding of, and the accrued interest
on,  the  Notes,  together  with  the  Default  Penalty,  to be due and  payable
immediately,  and upon such  declaration  the same shall  become due and payable
immediately, without presentation,  demand, protest, or other formalities of any
kind,  all of which are  expressly  waived by the Company.  For purposes of this
Note, the term "DEFAULT  PENALTY" shall mean the product of (I) and (II),  where
(I) equals the sum of the principal  amount then outstanding of, and the accrued
interest on, this Note through the date of such Event of Default,  and where (B)
equals 0.30. At the option of the Holder by written  notice to the Company,  the
payment of the principal  amount then  outstanding of, and the accrued  interest
on,  this Note,  together  with the  Default  Penalty,  may be paid in shares of
Common Stock at the Conversion Price.

         (b) The Holder may  institute  such  actions or  proceedings  in law or
equity as it shall  deem  expedient  for the  protection  of its  rights and may
prosecute  and enforce  its claims  against  all assets of the  Company,  and in
connection with any such action or proceeding  shall be entitled to receive from
the Company payment of the principal  amount of this Note plus accrued  interest
to the date of  payment  plus  reasonable  expenses  of  collection,  including,
without limitation, reasonable attorneys' fees and expenses.

         7.   TRANSFER.

         (a) Any Notes  issued upon the  transfer of this Note shall be numbered
and shall be registered in a Note Register as they are issued. The Company shall
be entitled to treat the  registered  holder of any Note on the Note Register as
the owner in fact  thereof for all  purposes and shall not be bound to recognize
any  equitable  or other  claim to or  interest  in such Note on the part of any
other person,  and shall not be liable for any registration or transfer of Notes
which are  registered  or to be  registered  in the name of a  fiduciary  or the
nominee of a fiduciary unless made with the actual knowledge that a fiduciary or
nominee is  committing  a breach of trust in  requesting  such  registration  or
transfer,  or with the  knowledge of such facts that its  participation  therein
amounts to bad faith. Subject to applicable law, this Note shall be transferable
only on the books of the Company  upon  delivery  thereof  duly  endorsed by the
Holder or by his duly authorized  attorney or representative,  or accompanied by
proper  evidence of  succession,  assignment,  or authority to transfer.  In all
cases of transfer by an attorney,  executor,  administrator,  guardian, or other
legal representative,  duly authenticated evidence of his or its

                                      -6-
<PAGE>

authority  shall be produced.  Upon any  registration  of transfer,  the Company
shall deliver a new Note or Notes to the person entitled thereto.  This Note may
be exchanged,  at the option of the Holder  thereof,  for another Note, or other
Notes  of  different  denominations,  of  like  tenor  and  representing  in the
aggregate a like  principal  amount,  upon  surrender to the Company or its duly
authorized  agent.  Notwithstanding  the  foregoing,  the Company  shall have no
obligation  to cause Notes to be  transferred  on its books to any person if, in
the opinion of counsel to the Company,  such  transfer  does not comply with the
provisions of the Securities Act and the rules and regulations thereunder.

         (b) The Holder  acknowledges  that he has been  advised by the  Company
that this Note has not been registered  under the Securities Act, that this Note
is being issued on the basis of the statutory exemption provided by Section 4(2)
of the  Act or  Regulation  D  promulgated  thereunder,  or  both,  relating  to
transactions  by an issuer  not  involving  any  public  offering,  and that the
Company's reliance thereon is based in part upon the representations made by the
original Holder in the original  Holder's  Subscription  Agreement  executed and
delivered in accordance with the terms of the Offering.  The Holder acknowledges
that he has been informed by the Company of, or is otherwise  familiar with, the
nature  of the  limitations  imposed  by the  Securities  Act and the  rules and
regulations thereunder on the transfer of securities. In particular,  the Holder
agrees  that no sale,  assignment  or  transfer  of this Note  shall be valid or
effective,  and the Company shall not be required to give any effect to any such
sale, assignment or transfer,  unless (i) the sale,  assignment,  or transfer of
this Note is registered  under the Securities Act, it being understood that this
Note is not currently registered for sale and that the Company has no obligation
or intention to so register the Notes, or (ii) this Note is sold,  assigned,  or
transferred in accordance with all the  requirements and limitations of Rule 144
under the Act, it being understood that Rule 144 is not available at the time of
the original  issuance of this Note for the sale of this Note and that there can
be no assurance that Rule 144 sales will be available at any subsequent time, or
(iii) such sale,  assignment,  or transfer is otherwise exempt from registration
under the Securities Act.

         8.   CONVERSION.

         (a) (i) Subject to Section 2(b) hereof, the Holder may elect to receive
the principal  amount of this Note due and payable on the Maturity  Date, or any
payment of interest  thereon due on any  Interest  Payment  Date or the Maturity
Date, in each case in shares of Common Stock

             (ii) At any time on or after the  Issue  Date and prior to the time
this  Note is paid in full in  accordance  with  its  terms  (including  without
limitation  after the  Maturity  Date and after  the  occurrence  of an Event of
Default, as defined above), the Holder of this Note is entitled,  at its option,
subject to the  following  provisions of this Section 8, to convert this Note at
any time into shares of Common Stock at the Conversion Price (as defined below).

         (b) The  number of shares of  Common  Stock to be  delivered  upon such
conversion  shall equal the quotient of (A) divided by (B), where (A) equals the
principal  amount of, and

                                      -7-
<PAGE>

accrued but unpaid  interest on, this Note,  and where (B) equals the Conversion
Price.  For purposes of this Note,  the term  "CONVERSION  PRICE" shall mean the
product of (X) multiplied by (Y), where (X) equals the average closing price for
the three trading days  immediately  prior to such Interest  Payment Date or the
Maturity  Date, as applicable,  in the case of conversions  referenced in clause
(a)(i) of this  Section 8, or the three  trading days  immediately  prior to the
date of the relevant Notice of Conversion (as  hereinafter  defined) in the case
of  conversions  referenced  in clause  (a)(ii) of this Section 8, and where (Y)
equals  0.40,  provided,  however,  in no event  shall the  Conversion  Price be
greater than $1.00.

         (c) Conversion shall be effectuated by faxing a Notice of Conversion to
the Company as provided in this  paragraph.  The Notice of  Conversion  shall be
executed by the Holder of this Note and shall  evidence such Holder's  intention
to convert  this  Debenture  or a specified  portion  hereof in the form annexed
hereto as Exhibit A. If paid in Common Stock as contemplated hereby, accrued and
unpaid interest from the Issue Date to the relevant  Interest Payment Date shall
be paid in Common Stock at the Conversion  Price  applicable as of such Interest
Payment  Date.  No  fractional  shares  of  Common  Stock or scrip  representing
fractions  of  shares  will be issued on  conversion,  but the  number of shares
issuable  shall be rounded to the nearest whole share.  The date on which notice
of conversion is given (the "CONVERSION DATE") shall be deemed to be the date on
which the Holder faxes or otherwise  delivers the conversion  notice ("NOTICE OF
CONVERSION")  to the  Company so that it is received by the Company on or before
such specified date,  provided that, if such conversion would convert the entire
remaining  principal of this Debenture,  the Holder shall deliver to the Company
the  original  Notes  being  converted  no later  than three (3)  business  days
thereafter.  Facsimile delivery of the Notice of Conversion shall be accepted by
the Company at facsimile  number  #85227589061,  Attention:  Mr. Chung-Lun Yang.
Certificates representing shares of Common Stock upon issued conversion in whole
or in part of the Notes  ("CONVERSION  CERTIFICATES")  shall be delivered to the
Holder at the address  specified in the Notice of  Conversion  (which may be the
Holder's address set forth herein or a different address),  via express courier,
by electronic transfer or otherwise,  within three (3) business days (such third
business  day,  the  "DELIVERY  DATE")  after  the date on which  the  Notice of
Conversion is delivered to the Company as  contemplated  in this  paragraph (c),
and,  if interest is paid in the form of shares of Common  Stock,  the  Interest
Payment Date. The Holder shall be deemed to be the holder of the shares issuable
thereto in accordance with the provisions of this Section 8(c) on the Conversion
Date.

         9.   MISCELLANEOUS.

         (a) Any notice or other communication required or permitted to be given
hereunder  shall be in writing  and shall be mailed by  certified  mail,  return
receipt  requested,  or by Federal  Express,  Express Mail or similar  overnight
delivery or courier  service or delivered  (in person or by  telecopy,  telex or
similar telecommunications equipment) against receipt to the party to whom it is
to be given,  (i) if to the  Company,  at its  address,  B24-B27,1/F.,  Block B,
Proficient  Industrial Centre, 6 Wang Kwun Road, Kowloon,  Hong Kong, Attention:
President,  (ii) if to the  Holder,  at its  address set forth on the first page
hereof,  or (iii) in either case,  to such other address as the party shall have
furnished in writing in  accordance  with the  provisions  of this Section 9(a).

                                      -8-
<PAGE>

Notice to the estate of any party shall be  sufficient if addressed to the party
as provided in this Section  9(a).  Any notice or other  communication  given by
certified  mail  shall be  deemed  given at the time of  certification  thereof,
except for a notice  changing a party's  address  which shall be deemed given at
the time of receipt  thereof.  Any notice given by other means permitted by this
Section 8(a) shall be deemed given at the time of receipt thereof.

         (b) Upon receipt of evidence  satisfactory  to the Company of the loss,
theft, destruction,  or mutilation of this Note (and upon surrender of this Note
if mutilated), the Company shall execute and deliver to the Holder a new Note of
like date, tenor, and denomination.

         (c) No course of dealing  and no delay or  omission  on the part of the
Holder in exercising  any right or remedy shall  operate as a waiver  thereof or
otherwise prejudice the Holder's rights, powers or remedies. No right, power, or
remedy  conferred  by this Note upon the Holder  shall be exclusive of any other
right, power, or remedy referred to herein or now or hereafter available at law,
in equity,  by statute or  otherwise,  and all such  remedies  may be  exercised
singly or concurrently.

         (d) This Note may be amended only by a written  instrument  executed by
the Company and the Holder  hereof.  Any  amendment  shall be endorsed upon this
Note, and all future Holders shall be bound thereby.

         (e) This Note has been  negotiated and  consummated in the State of New
York and shall be governed by, and construed in accordance with, the laws of the
State of New York,  without giving effect to principles  governing  conflicts of
law.

                  [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

                                      -9-
<PAGE>

         IN WITNESS WHEREOF, the Company has caused this Note to be executed and
dated the day and year first above written.

                                                 PRINT DATA CORP.

                                                 BY:
                                                    ----------------------------
                                                 NAME:   CHUNG-LUN YANG
                                                 TITLE:  CHIEF EXECUTIVE OFFICER

ACCEPTED AND AGREED TO
AS OF THE DATE FIRST ABOVE-WRITTEN:

PROFESSIONAL TRADERS FUND LLC

BY:
    ---------------------------
    NAME:
    TITLE:

                                      -10-
<PAGE>

                                    EXHIBIT A

                              NOTICE OF CONVERSION
                                       OF
                    12% SENIOR SUBORDINATED CONVERTIBLE NOTE
                              DUE DECEMBER __, 2004
     (TO BE EXECUTED BY THE REGISTERED HOLDER IN ORDER TO CONVERT THE NOTE)

FROM:                                                             ("Holder")
      -----------------------------------------------------------

DATE:
     ---------------------------------------------------------- (the "Conversion
Date")

RE:      Conversion of the 12% Senior Subordinated Convertible Note Due December
         __, 2004 (the "Note") of PRINT DATA CORP.  (the  "Company") into shares
         (the "Conversion Shares") of Common Stock (defined below)

         The captioned  Holder  hereby gives notice to the Company,  pursuant to
the Note of PRINT DATA CORP. that the Holder elects to do the following:

CHECK ONE:

         __    receive  the  interest  on the Note due and  payable  on the next
               Interest Payment Date or the Maturity Date, as applicable, in the
               form of shares of common  stock,  par value $0.001 per share (the
               "Common Stock"), pursuant to Section 2 and Section 8(a)(i) of the
               Note;

         __    receive the  principal  amount of the Note due and payable on the
               Maturity  Date in the form of shares of Common Stock  pursuant to
               Section 2 and Section 8(a)(i) of the Note; or

         __    convert  the Note into  fully paid and  non-assessable  shares of
               Common Stock as of the Conversion Date specified above.

                     [REMAINDER OF PAGE INTENTIONALLY BLANK]

                                      -11-
<PAGE>

Such conversion  shall be based on the Conversion Price determined in accordance
with the Note.

                                           -----------------------------------
                                           (PRINT NAME OF HOLDER)

                                           BY:
                                              ----------------------------------
                                              (SIGNATURE OF AUTHORIZED PERSON)

                                           -----------------------------------
                                           (PRINTED NAME AND TITLE)

                                      -12-EX-10.3

         LIMITED  GUARANTEE  AND  SECURITY  AGREEMENT,  dated as of December 31,
2003,  among PRINT DATA CORP., a Delaware  corporation  with  executive  offices
located at  B24-B27,1/F.,  Block B, Proficient  Industrial  Centre,  6 Wang Kwun
Road, Kowloon, Hong Kong, Attention:  President  ("BORROWER"),  ORIENT FINANCIAL
SERVICES LIMITED and MR. LI WING KEI of 18/F., One International Finance Centre,
1 Harbourview Street, Central, Hong Kong together with EMERGING GROWTH PARTNERS,
INC., a Nevada corporation  (collectively,  the "GUARANTORS"),  and PROFESSIONAL
TRADERS FUND, LLC, a New York limited  liability  company with executive offices
located  at 990  Stewart  Avenue,  Suite  420,  Garden  City,  New  York  11530,
Attention: Marc K. Swickle, Manager ("INVESTOR").

                                  INTRODUCTION

         Investor  anticipates  the  possibility  of making  loans or  extending
credit to Borrower  pursuant to the terms of a 12% Convertible Note, dated as of
the date hereof (the "NOTE"),  of Borrower.  Each  Guarantor is a stockholder of
Borrower. In order to induce Investor to make the loans and extend the credit to
Borrower  pursuant  to the Note,  each  Guarantor  has  agreed,  subject  to the
limitations  set forth  herein,  to guarantee  and secure on a several basis the
obligations of Borrower under the Note, with 1,200,000 shares of common stock of
the Borrower (the "SHARES"),  held  beneficially  and of record thereby,  all as
more fully set forth herein and in the Escrow Agreement.  Of the Shares, 700,000
are  "restricted  securities" as defined in Rule 144 under the Securities Act of
1933, as amended (the "SECURITIES ACT").

         NOW,  THEREFORE,  in  consideration  of the premises and other good and
valuable  consideration,  the  receipt  and  sufficiency  of  which  are  hereby
acknowledged, each of the Guarantors hereby agrees as follows:

I.       LIMITED GUARANTEE

         SECTION 1.01      GUARANTEE BY GUARANTOR.

         Subject to Section 1.07 hereof,  each of the  Guarantors,  on a several
basis,  hereby  unconditionally,   irrevocably,  and  absolutely  guarantees  to
Investor (i) the due and punctual  payment and  collectibility  of the principal
of, and the premium,  if any, and interest  (including  interest  accruing on or
after the filing of any petition in bankruptcy or reorganization, whether or not
a claim  for  post-filing  interest  is  allowed  in such  proceeding)  on,  all
obligations  of Borrower  under the Note,  when and as the same shall become due
and  payable,  whether at  maturity of such  obligations,  by  acceleration,  or
otherwise,  (ii) the due and punctual payment and  collectibility of interest on
the overdue principal of, and premium and interest,  if any, on, all obligations
of Borrower  under the Note,  to the extent  lawful,  (iii) the due and punctual
performance  of all of the  covenants,

<PAGE>

agreements, and other obligations of Borrower to Investor in accordance with the
terms of the Note,  and (iv) in the case of any  extension of time of payment or
renewal of any of the obligations of Borrower under the Note, that the same will
be promptly paid in full when due or performed in  accordance  with the terms of
such extension or renewal, at stated maturity, by acceleration, or otherwise.

         SECTION  1.02  ABSOLUTE,  IRREVOCABLE,  AND  UNCONDITIONAL  OBLIGATION.
Subject  to  Section  1.07  hereof,   each  Guarantor  hereby  agrees  that  its
obligations  hereunder  shall  be  absolute,   irrevocable,  and  unconditional,
irrespective  of, and shall be  unaffected  by, the  identity of  Borrower,  the
nature of the obligation of Borrower to Investor (whether as obligor, guarantor,
or otherwise),  any invalidity,  irregularity,  or  unenforceability of any such
obligation or this  guarantee,  any failure to enforce any of the  provisions of
the Note or this guarantee, any waiver,  modification,  or indulgence granted to
any of the Guarantors or Borrower with respect thereto by Investor, or any other
circumstances  which may otherwise  constitute a legal or equitable discharge or
defense  of  surety  or  guarantor.  Each  Guarantor  hereby  waives  diligence,
presentment,  demand of  payment,  filing of claims with a court in the event of
merger, insolvency, or bankruptcy of Borrower, any right to require a proceeding
first  against  Borrower,  the benefit of  discussion,  protest,  or notice with
respect to such obligations, and all demands whatsoever, and covenants that this
guarantee will not be discharged as to any obligation of Borrower under the Note
or to Investor,  except by payment in full of the principal amount due under the
Note, premium, if any, and interest thereon,  and by the complete performance of
the obligations contained in the Note and this guarantee.

         SECTION 1.03 ACCELERATION OF OBLIGATIONS. Each Guarantor hereby agrees,
to the fullest extent it may lawfully do so, that, as between the Guarantors, on
the one hand, and Investor,  on the other,  (a) the maturity of the  obligations
guaranteed hereby may be accelerated as provided in the Note for the purposes of
this  guarantee,  notwithstanding  any stay,  injunction,  or other  prohibition
preventing such acceleration in respect of the obligations guaranteed hereby and
(b) in the event of any declaration of acceleration  of such  obligations,  such
obligations  (whether or not due or payable) shall forthwith become  immediately
due and payable by the Guarantors for the purposes of this guarantee.

         SECTION 1.04 REINSTATEMENT OF GUARANTEE. If Investor is required by any
court or otherwise  to return to Borrower or any  Guarantor,  or any  custodian,
receiver, liquidator, trustee, sequestrator, or other similar official acting in
relation to Borrower,  any amount paid to Investor in respect of the Note,  this
guarantee, to the extent of such amount so returned, shall be reinstated in full
force and effect.

         SECTION 1.05 SUBROGATION.  Each Guarantor hereby irrevocably waives any
claim  or  other  rights  which it may now  have or  hereafter  acquire  against
performance or enforcement of his obligations  under this guarantee,  including,
without  limitation,  any  right  of  subrogation,  reimbursement,  exoneration,
contribution,  or  indemnification,  any  right to  participate  in any claim or
remedy of Investor against  Borrower or any collateral which Investor  hereafter
acquires, whether or not such claim, remedy, or right arises in equity, or under
contract,  statute, or common law, including,  without limitation,  the right

                                       2
<PAGE>

to take or  receive  from  Borrower  directly  or  indirectly,  in cash or other
property or by set-off or in any other manner, payment or security on account of
such claim or other  rights.  If any amount  shall be paid to any  Guarantor  in
violation of the preceding  sentence at any time prior to the payment in full of
all obligations and all other amounts payable under this guarantee,  such amount
shall be deemed to have been paid to such Guarantor for the benefit of, and held
in trust for the benefit of, Investor and shall forthwith be paid to Investor to
be credited and applied upon such  guaranteed  obligations,  whether  matured or
unmatured, in accordance with the terms of the Note.

         SECTION  1.06  OTHER  REMEDIES.  Except  as set forth in  Section  1.07
hereof,  nothing  contained in this Article I or elsewhere herein is intended to
or shall  impair,  as between any  Guarantor  and  Investor,  the  obligation of
Guarantors,  which  is  absolute  and  unconditional,  to  pay to  Investor  the
obligations of Borrower under the Note as and when the same shall become due and
payable in accordance  with the provisions  thereof,  or the  performance of the
covenants,   agreements,  or  other  obligations  of  Borrower  to  Investor  in
accordance  with the  terms of the  Note,  nor  shall  anything  herein  prevent
Investor from exercising all remedies otherwise permitted by applicable law upon
default under the Note.

         SECTION 1.07 LIMITATIONS ON GUARANTEE.  Notwithstanding anything herein
to the contrary,  the guarantee  provided herein shall be limited to the Shares,
which Shares,  simultaneously  with the execution hereof,  shall be delivered in
proper form for transfer to Sullivan &  Worcester,  as escrow agent (the "ESCROW
AGENT"),  maintaining  the escrow account (the  "ESCROW")  pursuant to the Stock
Purchase  and  Escrow  Agreement,  dated  as of the  date  hereof  (the  "ESCROW
AGREEMENT") among the Guarantors, Investor, and the Escrow Agent. Other than the
Shares and any other  Collateral  (as  hereinafter  defined) of each  Guarantor,
Investor expressly acknowledges that such Guarantor shall have no obligations or
liability  to  Investor or to any other  entity with  respect to the Note or the
obligations  of Borrower  thereunder,  and Investor  expressly  waives all other
causes  of  action  against  such  Guarantor  with  respect  to the Note and the
obligations of Borrower thereunder. Investor and each Guarantor acknowledge that
Investor shall be entitled to withdraw Shares from the Escrow, and the number of
Shares in the Escrow shall  thereby be  decreased,  upon  conversion of the Note
pursuant to Section  2(b)(ii),  6(a),  and/or 8 thereof and Section  4.03 of the
Escrow Agreement.

II.      SECURITY INTEREST

         SECTION 2.01 GRANT OF SECURITY  INTEREST.  Each Guarantor hereby grants
to Investor a first  priority  security  interest in and to the  following  (the
"COLLATERAL"):

             (a) the Shares;

             (b)  all  additional   shares  of  stock  of  owned  of  record  or
         beneficially by such Guarantor or any successor in interest  thereto or
         any other securities, options, or rights received by the such Guarantor
         pursuant to any reclassification,

                                       3
<PAGE>

         reorganization,  increase or reduction of capital,  or stock  dividend,
         attributable to the Collateral,  or in substitution  of, or in exchange
         for, any of the Collateral;

             (c) all certificates representing the shares or other securities or
         property referred to in clauses (a) and (b) above; and

             (d)  all  dividends,  cash,  instruments,  and  other  property  or
         proceeds,   from  time  to  time  received,   receivable  or  otherwise
         distributed in respect of, or in exchange for, any or all of the shares
         referred to in clauses (a) and (b) above.

         SECTION 2.02 SECURITY FOR GUARANTEE.  This Agreement  secures,  and the
Collateral is security for, the  indefeasible  payment in full when due, whether
at stated  maturity,  by  acceleration  or  otherwise,  and  performance  of all
obligations,  whether now or hereafter  existing,  of the Guarantors pursuant to
the guarantee  set forth in Article I hereto,  whether for  principal,  premium,
interest, fees, expenses, or otherwise.

         SECTION 2.03 DELIVERY OF COLLATERAL.  All  certificates  or instruments
representing  or evidencing the  Collateral  shall be delivered to, and held by,
the Escrow  Agent as set forth in, and pursuant  to, the Escrow  Agreement,  and
shall be in suitable  form for transfer by delivery or shall be  accompanied  by
duly executed  instruments of transfer or assignment  undated and in blank, with
medallion  signature  guarantee,  if  available,   all  in  form  and  substance
satisfactory to Investor in its sole  discretion.  If Borrower shall not satisfy
its obligations under the Note,  Investor shall have the right,  where permitted
by law, in its sole discretion and without notice to the Guarantors, to transfer
to, or to register in its name or in the name of any of its nominees, any or all
of the Collateral in accordance with, and pursuant to, this Agreement, the Note,
and the Escrow Agreement.

III.     REPRESENTATIONS AND WARRANTIES

         Each Guarantor makes the following representations and warranties, each
and all of which shall survive the execution and delivery of this Agreement:

         SECTION 3.01 RESIDENCE OF GUARANTOR.  The principal  place of residence
of such  Guarantor  is located at the  address  first  specified  above for such
Guarantor.

         SECTION  3.02  FORFEITURE;  REPURCHASE;  OPTIONS.  No  portion  of  the
Collateral  attributable to such Guarantor (i) is subject to forfeiture pursuant
to any  vesting  requirements,  and (ii) are subject to any  repurchase  rights.
There are no existing options,  warrants, calls, or commitments of any character
whatsoever relating to any of the Shares attributable to such Guarantor.

         SECTION 3.03 OWNERSHIP.  Such Guarantor is, and at the time of delivery
of the Investor  will be, the legal and  beneficial  owner of the portion of the
Collateral specified in any Schedule hereto as owned by such Guarantor, free and
clear of any lien, security interest, or other charge or encumbrance, except for
the lien created hereby. Of the

                                       4
<PAGE>

Shares,  700,000 are  "restricted  securities"  as defined in Rule 144 under the
Securities  Act. Each Guarantor  hereby agrees to cooperate with the Borrower to
register such restricted securities for resale under the Securities Act.

         SECTION 3.04 SECURITY  INTEREST.  The security interest with respect to
the Shares pursuant hereto creates a valid and perfected first priority security
interest in the Collateral  attributable to such Guarantor,  securing payment of
the Note, so long as the Escrow Agent shall remain in possession of certificates
representing the Shares, as well as all other evidences of Collateral.

         SECTION 3.05  AUTHORITY.  Such  Guarantor has all  requisite  power and
authority to execute, deliver, and perform its obligations under this Agreement.
This  Agreement  has been  duly  authorized,  executed,  and  delivered  by such
Guarantor  and  constitutes  the legal,  valid,  and binding  obligation of such
Guarantor,  enforceable  against such Guarantor in accordance with its terms. No
consent of any party to any contract,  arrangement,  or  understanding  to which
such Guarantor is a party,  or to which it or any of his assets are subject,  is
required in connection  with the execution or delivery of, or the performance of
its obligations  under,  this Agreement.  The execution and delivery of, and the
performance by such Guarantor of his obligations  under, this Agreement will not
violate, result in a breach of, or conflict with, any term of any such contract,
arrangement, or understanding,  or violate or result in a breach of, or conflict
with  any  order,  judgment,  or  decree,  or,  to the  best  knowledge  of such
Guarantor,  any law, rule, or regulation binding upon such Guarantor or to which
it  or  any  of  its  businesses,   properties,   or  assets  are  subject.   No
authorization,  approval,  or other  action by, and no notice to or filing with,
any  governmental  authority or regulatory  body is required  either (i) for the
grant by such  Guarantor  of the  guarantee  or the  security  interest  granted
hereby,  including the deposit of the Collateral  attributable to such Guarantor
into the Escrow or for the execution, delivery, or performance of this Agreement
by such Guarantor or (ii) for the perfection of, or the exercise by Investor of,
its rights and remedies hereunder.

IV.      FURTHER ASSURANCES

         SECTION 4.01 BY THE GUARANTORS.  Each Guarantor hereby agrees that from
time to time, at such  Guarantor's  sole expense,  such  Guarantor will promptly
execute and deliver all further instruments and documents,  and take all further
action,  that may be necessary or desirable,  or that  Investor may request,  in
order to protect the guarantee  set forth in Article I to this  Agreement and to
perfect and protect any  security  interest  granted or  purported to be granted
hereby or to enable  Investor  to exercise  and enforce its rights and  remedies
hereunder with respect to the guarantee and any of the Collateral.

         SECTION 4.02 FILINGS. Each Guarantor hereby authorizes Investor to file
one or more  financing  or  continuation  statements,  and  amendments  thereto,
relative  to the  Collateral  without  the  signature  of such  Guarantor  where
permitted  by  law.  A  carbon,  photographic,  or  other  reproduction  of this
Agreement or any financing statement covering the Collateral or any part thereof
shall be sufficient as a financing statement where permitted by law.

                                       5
<PAGE>

         SECTION  4.03  DEFENSE OF TITLE.  Each  Guarantor  agrees to defend the
title to the  Collateral and the lien thereon and security  interest  therein of
Investor  created  hereby  against the claim of any person and to  maintain  and
preserve such lien and security  interest until the earlier of (a)  satisfaction
in full of the  obligations of such  Guarantor  pursuant to Article I hereof and
(b) the withdrawal of the last of the Shares from the Escrow pursuant to Section
1.07 hereof and the Escrow Agreement.

V.       VOTING RIGHTS, ETC.

         SECTION 5.01  GENERALLY.  Until the withdrawal of any particular  Share
from the Escrow, each Guarantor shall be entitled to exercise any and all voting
and other consensual rights with respect to such Shares attributable thereto for
any purpose not inconsistent with the terms hereof or the Note.

         SECTION 5.02 DEFAULTS. Upon withdrawal of any particular Share from the
Escrow pursuant to Section 1.07 hereof and the Escrow  Agreement,  all rights of
the Guarantor  depositing  such Share into the Escrow to exercise its voting and
other  consensual  rights  which it would  otherwise  be  entitled  to  exercise
pursuant to Section 5.01 hereof shall cease, and all such rights shall thereupon
become vested in Investor, which shall thereupon have the sole right to exercise
such voting and other consensual rights.

         SECTION  5.03  ADDITIONAL  ACTIONS.  In order  to  permit  Investor  to
exercise  the voting  and other  rights  which he may be  entitled  to  exercise
pursuant to Section  5.02 hereof,  each  Guarantor  shall,  if  necessary,  upon
written notice of Investor,  from time to time,  execute and deliver to Investor
appropriate proxies,  dividend payment orders, and other instruments as Investor
may reasonably request.

VI.      TRANSFERS AND OTHER LIENS; ADDITIONAL SHARES

         Each  Guarantor  agrees  that he or it will not (i)  sell,  assign,  or
otherwise dispose of, or grant any option or warrant with respect to, any of the
Collateral,  or (ii) create or permit to exist any lien,  security interest,  or
other  charge or  encumbrance  upon or with  respect  to any of the  Collateral,
except for the lien in favor of Investor pursuant hereto.

VII.     ATTORNEY-IN-FACT; INVESTOR MAY

         PERFORM

         SECTION 7.01 ATTORNEY-IN-FACT. [INTENTIONALLY OMITTED]

         SECTION 7.02 INVESTOR MAY PERFORM.  If any  Guarantor  fails to perform
any  agreement  contained  herein,  Investor may, but shall not be obligated to,
itself perform,  or cause  performance  of, such agreement,  and the expenses of
Investor  incurred in

                                       6
<PAGE>

connection therewith shall be payable by such Guarantor pursuant to the terms of
this Agreement.

VIII.    INVESTOR'S DUTIES; REASONABLE CARE

         [INTENTIONALLY OMITTED]

IX.      REMEDIES UPON DEFAULT; EXPENSES

         SECTION 9.01 REMEDIES  UPON DEFAULT ON THE NOTE. If Borrower  shall not
satisfy its obligations under the Note:

         (a) Investor may withdraw  Collateral  from the Escrow pursuant to, and
in  accordance  with,  the terms of the Escrow  Agreement,  in addition to other
rights and remedies  provided for in the Note or otherwise  available to it, all
the  rights  and  remedies  of a secured  party in case of a default by a debtor
under the Uniform Commercial Code, and Investor may also, upon withdrawal of the
Collateral  from the Escrow and without notice except as specified  below,  sell
the  Collateral  or any part thereof in one or more parcels at public or private
sale,  at any  exchange or  broker's  board,  for cash,  on credit or for future
delivery,   and  upon  such  other  terms  as  Investor  may  deem  commercially
reasonable.  Such  Guarantor  agrees that, to the extent notice of sale shall be
required by law, at least ten (10) days'  notice to such  Guarantor  of the time
and place of any public sale or the time after  which any private  sale is to be
made shall constitute reasonable  notification.  Investor shall not be obligated
to make any sale of  Collateral  regardless of notice of sale having been given.
Investor  may  adjourn  any  public  or  private  sale  from  time  to  time  by
announcement  at the time and place fixed  therefor  and such sale may,  without
further notice, be made at the time and place to which it was so adjourned. Each
Guarantor  hereby waives any claims  against  Investor  arising by reason of the
fact that the price at which any of the  Collateral may have been sold at such a
private sale was less than the price which might have been  obtained at a public
sale,  even if Investor  accepts the first offer received and does not offer the
Collateral to more than one offeree.

         (b) Any cash  held by  Investor  as  Collateral  and all cash  proceeds
received  by  Investor  in respect  of any sale of,  collection  from,  or other
realization upon all or any part of the Collateral shall be applied by Investor:

             FIRST,  to the  payment  of the costs and  expenses  of such  sale,
         including, without limitation,  reasonable compensation to Investor and
         its agent and counsel, and all expenses, liabilities, and advances made
         or incurred by Investor in connection therewith;

             NEXT,  to  Investor,  for the  payment  in  full of the  Borrower's
         obligations pursuant to the Note; and finally, after payment in full of
         the Borrower's  obligations pursuant to the Note, to the payment of the
         Guarantors,  or his or its successors or assigns,  or to the Guarantors
         or  whomsoever  may be  lawfully

                                       7
<PAGE>

         entitled  to receive the same or as a court of  competent  jurisdiction
         may direct, of any surplus then remaining from such proceeds.

         (c) Anything contained herein to the contrary notwithstanding, Investor
may exercise all rights and  remedies  available to it pursuant  hereto or under
law, which remedies shall be deemed cumulative and not exclusive.

         SECTION 9.02 EXPENSES.

         The Borrower, shall, upon demand, be responsible to pay to Investor the
amount of any and all expenses,  including the  reasonable  fees and expenses of
its counsel and of any experts and agents,  which Investor may reasonably  incur
in  connection  with  (a) the  custody  or  preservation  of,  or the  sale  of,
collection  from, or other  realization  upon,  any of the  Collateral,  (b) the
exercise or enforcement of any of the rights of Investor pursuant hereto, or (c)
the failure by any Guarantor to perform or observe any of the provisions hereof.

X.       SECURITY INTEREST ABSOLUTE; CONTINUING SECURITY
         INTEREST

         SECTION  10.01 SECURITY  INTEREST  ABSOLUTE. All rights of Investor and
security  interests  granted  herein,  and  all  obligations  of the  Guarantors
pursuant hereto, shall be absolute and unconditional irrespective of:

             (i)    any lack of validity or enforceability of the guarantee;

             (ii)   any change in the time,  manner,  or place of payment of, or
                    in any other  term of, all or any of the  obligations  under
                    the  guarantee  or any other  amendment or waiver of, or any
                    consent to any departure from, the guarantee;

             (iii)  any  exchange,  release,  or  non-perfection  of  any  other
                    collateral,  or any  release or  amendment  or waiver of, or
                    consent to departure  from,  the guarantee or any obligation
                    thereunder; or

             (iv)   any other  circumstance  which might otherwise  constitute a
                    defense  available to, or a discharge of, any Guarantor or a
                    third party grantor of a security interest.

         SECTION 10.02 CONTINUING SECURITY INTEREST. This Agreement shall create
a continuing  first priority  security  interest in the Collateral and shall (a)
remain in full force and effect until the earlier of the indefeasible payment in
full of the  Note and the  withdrawal  of the  last of the  Collateral  from the
Escrow, (b) continue to be effective or be reinstated, as the case may be, if at
any time payment of the  obligations  pursuant to Article I hereof,  or any part
thereof,  is  rescinded  or reduced in amount or must  otherwise  be restored or
returned by any Guarantor all as though such payment or performance had

                                       8
<PAGE>

not been made, (c) be binding upon each  Guarantor,  his, her, or its successors
and assigns,  and (d) inure,  together  with the rights and remedies of Investor
pursuant  hereto,  to the benefit of Investor and its  transferees  and assigns.
Upon the satisfaction of the obligations under the Note, each Guarantor shall be
entitled to the return,  upon his request and at his expense, of such portion of
the  Collateral  attributable  thereto as shall not have been sold or  otherwise
applied pursuant to the terms hereof.

XI.      MISCELLANEOUS

         SECTION 11.01 AMENDMENTS,  ETC. No amendment or waiver of any provision
of this Agreement, nor consent to any departure by any Guarantor herefrom, shall
in any event be  effective  unless the same  shall be in  writing  and signed by
Investor,  and then  such  waiver  or  consent  shall be  effective  only in the
specific instance and for the specific purpose for which given.

         SECTION 11.02 NOTICE. All notices and other communications provided for
hereunder shall be in writing (including  telegraphic  communication) and, if to
the Guarantors,  mailed or telegraphed or delivered to it,  addressed to them at
the addresses  specified in the introductory  paragraph  hereof, if to Investor,
mailed  or  delivered  to it  at  the  address  of  Investor  specified  in  the
introductory  paragraph  hereof, or as to any party hereto at such other address
as shall be  designated  by such party in a written  notice to each other  party
complying as to delivery  with the terms of this  Section.  All such notices and
other  communications  shall,  when  mailed  or  telegraphed,  respectively,  be
effective  when  deposited in the mails or delivered to the  telegraph  company,
respectively, addressed as aforesaid.

         SECTION 11.03  WAIVER.  No failure on the part of Investor to exercise,
and no delay in  exercising,  any  right  hereunder  shall  operate  as a waiver
thereof nor shall any single or partial exercise of any right hereunder preclude
any other or further exercise thereof or the exercise of any other right.

         SECTION 11.04  SEVERABILITY.  The illegality or unenforceability of any
provision of this  Agreement or any  instrument  or document  required  pursuant
hereto shall not in any way affect or impair the legality or  enforceability  of
the  remaining  provisions  of this  Agreement  or any  instrument  or  document
required pursuant hereto.

         SECTION 11.05  GOVERNING LAW;  TERMS.  This Agreement shall be governed
by, and construed in accordance with, the laws of the State of New York, without
giving  effect to  principles  of conflicts of laws.  Unless  otherwise  defined
herein,  terms  defined in Articles 8 and 9 of the Uniform  Commercial  Code are
used herein as therein defined.  Any action, suit, or proceeding arising out of,
based on, or in connection with this Agreement or the transactions  contemplated
hereby  may be  brought in the United  States  District  Court for the  Southern
District of New York and each party  covenants and agrees not to assert,  by way
of motion, as a defense, or otherwise,  in any such action, suit, or proceeding,
any claim that it or he is not subject  personally to the  jurisdiction  of such
court,  that  its or his  property  is  exempt  or  immune  from  attachment  or
execution,  that the

                                       9
<PAGE>

action,  suit, or proceeding is brought in an inconvenient forum, that the venue
of the action,  suit, or proceeding is improper,  or that this  Agreement or the
subject matter hereof may not be enforced in or by such court.

         SECTION 11.06  COUNTERPARTS.  This  Agreement may be executed in one or
more  counterparts,  all of which,  when taken  together  shall  constitute  one
original.

                                       10
<PAGE>

         IN WITNESS WHEREOF, the parties hereto have executed and delivered this
Agreement as of the date first above written.

                                            PRINT DATA CORP.

                                            BY:
                                                --------------------------------
                                                NAME:  CHUNG-LUN YANG
                                                TITLE:   CHIEF EXECUTIVE OFFICER

                                            ORIENT FINANCIAL SERVICES LTD.

                                            BY:
                                                --------------------------------
                                                NAME: NILS A. OLLQUIST
                                                TITLE: DIRECTOR

                                            ------------------------------------
                                            LI WING KEI

                         EMERGING GROWTH PARTNERS, INC.,

                                            BY:
                                                --------------------------------
                                                NAME:
                                                TITLE:

                         PROFESSIONAL TRADERS FUND, LLC

                                            BY:
                                                --------------------------------
                                                NAME:  MARC K. SWICKLE
                                                TITLE: MANAGER

                                       11

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