Document:

EXHIBIT 10.12
                LEASE AGREEMENT WITH SICHUAN DONGFU GROUP COMPANY

                                 LEASE CONTRACT

A.   Sichuan DongFu Group Company

B.   Sichuan CathayOnline Technologies Co. Ltd.
--------------------------------------------------------------------------------

Party A agrees to lease office space located at 9/F, DongFu Mansion, No. 3 YuLin
Road,  Chengdu to Party B. According to this  understanding  Party A and Party B
reach the following agreement:

1)   Construction Area of the DongFu Mansion, No. 3 YuLin Road is 11 00m2. Party
     A agrees to lease  this space to Party B. Party B agrees to pay Party A RMB
     Y60,000/month, and RMB Y720,000/year in total.

2)   Otherpublic expenses like water supply, sewer processing,  cleaning,  plant
     decoration,  security, and postal services will be charged separately based
     on the ratio of construction areas of the whole building.  Electricity will
     be charged on a basis of the real usage.

3)   Leaseduration  is five years from September 1, 1999 to August 30, 2004. The
     lease can be renewed based on a mutual  agreement.  Party B should  provide
     Party A written  notice three months in advance of the expiry date if Party
     B does not wish to renew,  otherwise  Party A will  charge  Party B another
     three months rental.

4)   Party B agrees to pay Party A rental on a  quarterly  basis,  and agrees to
     pay other expenses  monthly  according to Points 2 and 3. Party B agrees to
     pay a daily  fine of I % of the total  expenses  owed to Party A if Party B
     does not pay Party A on time.

5)   This Agreement has four copies. Party A and Party B each have two of them.

Party A:          Sichuan DongFu Group Company
(stamp)

                  ----------------------------
Representative:   Tang FuQuan (signature)

Party B:          Sichuan CathayOnline Technologies Co. Ltd.

                  ----------------------------
Representative:   Owen Li (signature)

August 9, 1999EXHIBIT 10.13
         SUBLEASE FOR OFFICE AT 570 LEXINGTON AVENUE, NEW YORK, NEW YORK

                       TECHNOLOGY PARTNERS (HOLDINGS) LLC
                          570 LEXINGTON AVENUE--18th FL.
                               New Yort, NY 10022

                               TAT: (212) 759-3022

                               FAX: (212) 759-9184

                                                                 February 1,2000

                  Mr. Brian Ransom
                  President
                  CATHAY ONLINE LNC~

                  8 EAST AT STREET--SUITE 1000
                  NEWYORK,NY 10017

                  DEAR

                  This letter will confirm our agreement to sub.4easo to you and
                  Cathay Online Inc. for six months,  the rear ertolosed  office
                  Song the east wall of our office  stEte,  together  with,  one
                  administrative cubicle.

                  AS AGREED~  THIS  SUB-LEASE  shall be at the rate of $3,000.00
                  per month for the office end  cubicle,  ROFfl shall be payable
                  In advance on Ihe first of each month.  One rnonttVs  security
                  DEPOSIT IS also  payable upon  signing of this  agreement  The
                  sub-lease  shall n.m from  February 1, 2000  THROUGH  JULY 31,
                  2000, UNLESS EXTENDS AT THE OPTION OF Technology Partners.

                  YOU WILL BE  ISSUED A SET OF KEYS TO YOUR OFF BE SPACU AND THE
                  TECHNOLOGY  PARTNERS'  OFFICE  STHTE YOU WILL ALSO BE PROVICED
                  WITH A MAGNETIC KEYCARD FOR BUILDING A~SS, YOU ARE responsible
                  for THESE ITEMS WHICH MUST BE RETURNED TO  TECHNDOQY  PARTNERS
                  UPON termInation S your sub4ease. You will also be responsible
                  for your own  telepTione  and Internet  services,  and will be
                  bflied  DIRECTLY B~ TECHNOLOGY  PARTNERS FOR DIRECT USE gi f~x
                  arid copiers.

                            SIGNED AND AGREED TO BY:

                  Brian Ransom               Porter Blbb

                  President                  Technology Partners (Holdings) LLC
                  CATHAY ONLINE INC.EXHIBIT 10.14.
           LEASE AGREEMENT WITH BEIJING TONGKAI DEVELOPMENT CO., LTD.
                       FOR OFFICE SPACE IN BEIJING, CHINA

                     BEIJING TONGKAI DEVELOPMENT CO., LTD C
                                       AND

                                CONTRACT OF LEASE

                                       OF

                             UNIT 803, the_8th Floor

                             BEIJING SUNJOY MANSION

                 NO. 6, RI TIAN RD. CHAO YANG District, Beijing

                                February 28, 2000

<PAGE>

LESSOR                                     BEIJING TONGICAI DEVELOPMENT CO., LTD
                                           (hereinafter called "Party A")

Business Registration No.:                 1150428

Registered Office:                 No.6, Ritan Road, Chao Yang District, Beijing

Legal Representative:                      PengYi

Position:                                  Chairman

Nationality:                               Chinese

Lessee;                              Beijing CathayOnline Technologies Co., Ltd.
                                           (hereinafter called "Party B")
Business Registration No.:
Registered Offiee~
Legal Representative;                      Peter Chin
Position:                                  General Manager
Nationality;                               U.S.

Party A is an  enterprises  with the status of a Chinese legal person and is the
developer of the building known as BEIJING SUNJOY MANSION ( HEREINAFTER  CALLED"
THE BUILDING"),  WHICH SITUATES at No. 6 Ri Tan PA, Chao Yang District, Beijing,
The People's Republic of China (hereinafter called "PRC"). Party A has agreed to
grant a lease  and Party 13 has  agreed to take a lease of part of the  Building
and have made this Contract.

THIS CONTRACT IS MADE ON THE DAY OF (March 3, 2000] for the purpose of' defining
the rights and  obligations  of both  parties,  and through  consultations,  the
parties have agreed to observe and perform the following terms;

<PAGE>

1.       Premises

         Pursuant  to the terms and  conditions  hereinafter  provided,  Party B
         shall TAKE A LEASE  FROM PARTY A OF ALL THAT UNIT 803L,  THE 11TH FLOOR
         of Beijing SUNJOY Mansion to used as an office (hereinafter called "the
         PREMISES"). THE LETTABLE AREA OF THE PREMISES SHALL BE (331.18 ] square
         metres.  For  identification  purpose,  shown  colored  red on the plan
         annexed as Schedule 1. Party B has no right to use the external wall of
         the building.

         Party B  acknowledges  that (1) Party B has  inspected the Premises and
         accepts the Premises in "as-is"  condition  and (2) Party A has made no
         WARRANTIES  AND I or  representations  regarding the  conditions of the
         Premises.

2.       COMMENCEMENT DATE OF THE LEASE TERM

         Lease created hereunder (hereinafter called "the lease") shall commence
         on (May 1,2000]( hereinafter called the "Commencement Date")

3,       TERM

         THE LEASE SHALL BE FOR A TERRA OF (2] YEARS ,ENDING ON (APRIL  30,2000]
         FROM AND INCLUDING  THE  COMMENCEMENT  DATE (  hereinafter  called "the
         Term").

4.       PRIORITY  TO EXTEND  LEASE

         Three (3) months before the expiration of the Term, Party B can request
         for extension of Lease in writing. Upon consultation and $ agreement by
         both Parties on the new rent and the other conditions,  the Term may be
         extended for 1 year and the parties  shall sign a Contract of Lease for
         the  extended  period.  If all other  conditions  are equal and Party B
         shall net have committed any material breach of this Contract,  Party B
         shall  have the first  priority  to sign a  Contract  of Lease FOR SUCH
         EXTENDED  PERIOD.  PARTY B SHALL HAVE THE EXTENDING  RIGHT FOR_ S times
         and i.....  year each time.  If Party B is unable to reach an agreement
         on the new rent and the  other  conditions  with  Party A three  months
         before  the  expiration  of the  Term,  Party B shall be deemed to have
         waived such right of priority  and under such  circumstances,  even tt'
         all other  conditions are equal,  Party A shall have the right to lease
         the Premises to any third party or third parties.

<PAGE>

5.       RENT

5.01     PARTY FL SHALL PAY THE RENT EVERY QUARTER ( exclusive of all other fees
         PAYABLE,  HEREINAFTER  CALLED THE "BASIC  RENT" ). The total  amount IS
         US1J15~45~6ACL

5.02     The Basic Rent shall be payable quarterly in advance.  Upon the signing
         of this  Contract,  Party B shall  forthwith  pay the first  Basic Rent
         (equivalent to three month's Basic Rent) to Party A.

5.03     Except as provided in Clause,  5.02  hereof,  seven (7) days before the
         commencement  of each quarter,  upon  receiving  the written  notice of
         payment  from the party A,  Party B shall pay in  advance  without  any
         deduction  whatsoever the BASIC RENT FOR THE FOLLOWING QUARTER TO PARTY
         A within [7 Idays. Should such payment date fall on a Saturday,  Sunday
         or a public holiday in the PRC, then the payment due shall be postponed
         to the immediate next working day thereof.

5.04     If the Term of this  Contract  does not  commence on the first day of a
         month ,thc Basic Rent for the first and last month of the Term shall be
         pro-rated according to the actual number of days of the month concerned
         (one month should be calculated on 30 days basis).

5.05     Tn the event  that the Term here ot'  exceeds  two (2)  years,  Party A
         shall reserve the right to i~icrease the rent every year ever since the
         third year. $

6,       BUILDIN~MANAGPJNENT FEE

6.01     Party B shall pay the mot~thly  Building  Management  fee. The Building
         Management  FEE SHALL B~ USD (3.50) PER square meter per month making a
         total of USD (1459.13  ]PER MONTH.  PARTY A OR THE  MANAGEMENT  COMPANY
         APPOINTED BY PARTY A ( HEREINAFTER  CALLED "THE  MANAGEMENT  COMPANY" )
         shall have t$e right to determine  and adjust the  Building  Management
         Fee. Such i~icrease  shall be based on the increase of the actual costs
         of elecfricit~  and water.  In case of an ADJUSTMENT,  PARTY A AND I or
         the  Management  ~ompany  shall  notify  Party B at least one (1) month
         before such adjustrn~ent. $

6.02     UPON THE  SIGNING  OF THE  CONTRACT,  Party B shall  forthwith  pay the
         FIRSTQUARTERLY  $ BUILDING  MANAGEMENT  FCC (  equivalent  to three (3)
         months' Building Management Fee) by cash, cashier's order or wire

<PAGE>

         TRANSFER, THE TOTAL AMOUNT IS USD 3,477.39

6.03     SEVEN  (7)  DAYS  BEFORE  THE  COMMENCEMENT  OF  EACH  QUARTER,  UPON U
         receiving the written notice of payment from the  Management  coinpiny,
         Party B shall at the time of advancing  the payment of Basic Rent,  pay
         in advance the Building Management Fee for the following quarter within
         [73 days.  Should such  payment  date fall on a  Saturday,  Sunday or a
         public  holiday in the PRC,  then the L' payment due shall be postponed
         to the immediate  next working day thereof.

6.04     Throughout the Term, should the Building Management Fee payable be less
         than three months,  such fee shall be pro-rated according to the ACTUAL
         NUMBER OF DAYS THE MONTH  CONCERNED ( one month should be calculated on
         30 days  basis),

6.05     Party B shall  not be  entitled  to  deduct  any sum from the  Building
         Management  Fee.

6.06     The  Building  Management  Fee refetnd to in Clause  6.01 herein  above
         shaft  include the  following  expenses of Party A or the  Management $
         Company appointed by Party A:

         1.       the cost of cleaning the public areas and facilities;

         2.       the cost of illuminating the public areas and the provision of
                  signboards and light-fittings of the Building;

         3.       the cost of  repairing  and  maintaining  the access  ways and
                  public areas;

         4.       the cost of repairing, maintaining and replacing the security,
                  fire-fighting,   electrical  appliances,   transformer,   gas,
                  sewage, at rconditioning  systems,' elevator,  lifts and other
                  facilities of the Building.

         5.       the  remuneration and expenses in relation to the provision of
                  management,  security, planting of greeneiy, cleaning or other
                  services;

         6.       the  water,  hot  water,  electricity,   air-conditioning  and
                  heating  charges of the public  areas,  and  air-conditioning,
                  heating charges in the Premises;

<PAGE>

         7.       THE DISPOSAL OF GARBAGE AND WASTE  MATERIAL ( except  chemical
                  biological and electronic wastes);

         8.       the cost of using and maintaining  the mechanical  instruments
                  of the Building;

         9.       the cost of the Building's  management - related financial and
                  legal consultants;

         10.      the  service  charge  of  Party  A or the  Management  Company
                  appointed by Party A;

         11.      the cost of insurance of the public areas of the Building, and
                  insurance  OF LABOR OF THE  MANAGEMENT  COMPANY ( excepted  in
                  respect of the Lessee's own assets);

         12.      all other expenses in relation to the Building. $

7.       CARR PARKS AND OTHER PUBLIC FACILITIES IN THE BUILDING

7.01     Party13  rent..uncovered  fixing Car Park  which is USD40 each month,
         ____indoor fixing Car Park which is USD80 each month.

7.02     Party B rent the 8 direct  lines,  which is USD30  rental  per line per
         month,  Party A shall  transfer the ownership to Party B temporarily Li
         until  the  termination  of the  Lease  for  the  purpose  of a  direct
         telephone fee settlement with the Telephone  Bureau.  Party B shall pay
         the  charge of the  transfer.  Otherwise,  Party B shall pay 10% of the
         telephone fee to Party A as service charge.

7.03     PARTY B SHALL PAY SUCH  ELECTRICITY  CHARGES TO PARTY A as specified in
         the bill tendered by Party A or the Management  Company each month. The
         charge is  charged  according  to the  actual  cost and shall  increase
         whenever the relevant authority adjusts the rate.

8.       RENT DEPOSIT AND BUIJDJNGMANAGC~~NANT PEE PFLQSIT

8.01     The Rental  Deposit shall be equivalent to three (3) months' Basic Rent
         of the Premises.  On signing of this Contract or upon the submission of
         fitting out PLAN TO PARTY A AND I or the management  Company (whichever
         is the earlier),  Party B shall pay by cash,  cashier's  order or $WIRE
         TRANSFER TO PARTY A A SUM EQUIVALENT TO THREE (~) MONTHS0 Basic Rent IT

<PAGE>

         (WHICH SHALT INCLUDE ALL RENTAL  DEPOSITS  ALREADY PAID TO PARTY A ) as
         the Rental Deposit.

8.02     The Building  Management  Pee Deposit  shall be equivalent to three (3)
         months'  Building  Management  Pee. On signing of this Contract or upon
         the  submission of fitting out plan to Party A and / or the  MANAGEMENT
         COMPANY  (  whichever  is the  earlier),  Party  B shall  pay by  cash,
         cashier's  order or wire  TRANSFER  TO PARTY A A SUM EQUAL TO THREE (3)
         MONTHS'  BUILDING  MANAGEMENT  PEE ( which shall include ALL MANAGEMENT
         FEE DEPOSITS ALREADY PAID ) as the Building Management Fee Deposit.

8.03     Should  Party B be in breach of this  Contract  (including  but without
         limitation  the  regulations  on RENTAL  PAYMENT  ), Party A may use or
         deduct all or part of the  deposits,  the amount  shall be equal to the
         amounts  due to Party B.  Should the  amount of the  Rental  Deposit be
         insufficient  due to the deduction by Party A according to the Contract
         or other reasons,  Party B shall  forthwith on demand of Party A pay to
         Party A a further deposit in such insufficiont sum.

8.04     At the  expiration  of  the  Term  of the  Lease,  after  Party  B have
         delivered up vacant possession of the Premises to Party A and have paid
         all rents  $and all other  sums due  hereunder  and after  Party B have
         compensated  Party A of all damages  suffered as a result of any breach
         of the terms  HEREIN  CONTAINED,  PARTY A SHALL  REFUND ALL  DEPOSITS (
         without interests or compensation) to Party B within thirty (30) days.

9.       MAN RJER OF PAYMENT

9.01     Unless  approved  by  Party A in  writing,  the  Basic  Rent,  Building
         Management  Fee, all deposits and other fees and charges payable $under
         this Contract shall be counted in USD and paid in USD or RMB $using the
         average of buying and selling  exchange rates published by the People's
         Bank of China on the date of payment. The place of payment and the bank
         account number for payment shall be determined by Party A.

9.02     Unless otherwise provided in this Contract,  upon receiving the written
         NOTICE OF payment from the management company, if Party B shall for any
         reason whatsoever fail to make or delay in making payment of any of the
         sums  payable,  Party A shalt have the right to impose a surcharge on a
         DAILY  BASIS AT THE RATE OF 0.5% of the  amount of such  sums  payable.
         Should Party B fail to make payment for more than seven (7) days, Party
         A shall have the right as if there is a breach of Clause 10.05 hereof.

<PAGE>

10.      RIGHT AND OBLIGATIONT OF PARTY A

10.01    PARTY A WARRANTS  THAT PARTY A is the only  landlord who is  authorized
         and  legalized to lease the Premises.

10.02    Party A or the  Management  Company  appointed  by  Party  A  shall  be
         responsible  for  the  management  of  the  Building  and  shall,  with
         compensation  from  Party  B,  provided  the  following   services  and
         facilities;   water,   electricity,   illumination,   air-conditioning,
         heating,  telephone, car parking, washroom and other necessary business
         facilities.  Party A shall not be liable to damages or otherwise if the
         above services shall be interrupted by fire, accident, act of Clod, the
         making of necessary  repairs or  improvements,  or by any causes beyond
         Party A's control.

10.03    Party A shall,  with  compensation from Party B, be responsible for the
         security and fire fighting  systems in the Building and the cleaning of
         the public areas therein.

10.04    Party A reserves the following rights:

         10.04.01 in respect of the public  facilities in the Building~ the flee
                  passage  and running of the public  facilities  such as water,
                  electricity,  gas,  communication  and other  services  in the
                  Premises;  Party A or the  Management  Company  shall have the
                  right,  BY GIVING  PRIOR NOTICE TO PARTY B ( except in case of
                  emergency),  to authorize its staff to enter into the Premises
                  for the  purpose  of  carrying  out  investigation,  repair or
                  reconstruction worki of the public facilities in the Building;
                  and $

         10.04.02 except in case of  emergency,  upon  reasonable  notice  being
                  given,  Party A or the Management Company shall have the right
                  to temporarily  suspend any facilities in the building for the
                  purpose of carrying out repair works.

10.05    In the  event  of the  occurrence  of any of the  following  events  in
         relation  to PARTY B.  PARTY A shall  have  the  right to  unilaterally
         rescind this Contract;

         10.05.01 any  breach of the laws or  regulations  of the MC or curry on
                  any illegal activity. $

         10.05.02 any change in~the usage of the Premises;

<PAGE>

         10.05.03 THE  USE  OF ANY  NAME  OTHER  THAN  I:  Beijing  CathayOnline
                  Technologies Co., Ltd. ] to carry on business jn the Premises;

         10.05.04 the failure to pay the Basic Rent,  Building Management Fee in
                  accordance  with  Clauses S AND 6 HEREOF OR THE FAILURE TO PAY
                  THE RENTAL DEPOSIT AND I or Building Management Fee Deposit in
                  accordance  with  Clause S hereof  or the  failure  to pay the
                  surcharge in time in accordance with CLause 9.02 hereof or the
                  non-payment of the charges  provided in Clauses 7.01, 7.02 and
                  7.03  hereof,  for more than  seven (7) days after the same is
                  due; or

         10.05.05 without  the  approval  in  writing  of Party A, to turn over,
                  sublease,  assign,  transfer or share with any third party the
                  use of the Premises or any part thereof.

10.06    At any time within the three (3) months  before the  expiration  of the
         Term,  Party A together within any  prospective  lessee of the Premises
         shall have the right to enter into and view the Premises.

10.07    Under no circumstances  whatsoever shall Party A become liable to Party
         B or any other person  claiming  through Party B in respect of any loss
         or damage to  property  or loss of  business  or trade or profit of any
         nature  or  any  other  liability   including  but  without  limitation
         liability  caused  by  any  interruption  of any  of  the  services  or
         facilities or supply of electricity,  telecommunication  services;  any
         act of any kind  arising  from any of the lessees or users of any other
         part of the Building; any typhoon, earthquake, landslide, storm, escape
         of fire,  leakage of water or electric current.  Party A shall not take
         any  responsibility  to Party B or any other  person  claiming  through
         Party B in respect of a personal injury, on the condition that the same
         is not due to Party A's intentional act.

10.08    In the event the Premises are damaged or destroye,d by casualty insured
         under a  policy  as  issued  from  time to time  and the  Premises  are
         rendered  partially  or  totally  untenantable  as  a  result  of  such
         casualty,  then to the extent the Premises  are rendered  untenantable,
         the Basic Rent and  Building  Management  Fee shall be  proportionately
         abated until the Premises are restored to the condition in which it was
         immediately  prior TO THE  HAPPENING OF SUCH  CASUALTY ( except for the
         items Party 13 is $ responSible to repair or replace).

<PAGE>

11.      RIGHTS AND OHLIGATIONS OF PARTY 8

11.01    SUBJECT TO Party B paying the Basic Rent and all other sums  payable by
         Party B under this  Contract on the days and inmanner  herein  provided
         for payment of this same and observing and performing  the  obligations
         and  conditions  herein  contained and on Party B's part to be observed
         and  performed,  Party B shall hold and enjoy the  Premises  during the
         Tern'.

11.02    Party B shall have the right to  reasonably  use the  public  areas and
         facilities  of the  Building  and shall bear the cost  related  thereto
         provided that Party A or the Management Company shall have the right to
         impose  reasonable  restrictions  toward such use and Party B shall not
         raise any objection.

11.03    Party B shall punctually pay the Basic Rent,  Building  Management Fee,
         electricity,  telephone and other charges and all expenses  relating to
         its use of the Premises.

11.04    Party B shall  be  responsible  for  keeping  all the  interior  of the
         Premises  in a clean and good  condition  and shall on a regular  basis
         carry our repair arid cleaning  works  including but not limited to the
         floor,  walls,  ceiling ARID ALL FIXTURES  SUCH as all windows,  doors,
         electrical wiring and installations, furniture and sanitary apparatus.

11.05    Party  B shall  forthwith  give  notice  to  Party A or the  Management
         Company of any damage to the Premises and Party B shall  promptly  take
         all  appropriate  measures  to prevent  the  Premises  from  damages by
         typhoon or other natural calamities.

11.06    Party B shall carry out the repair for which  Party B is liable  within
         one month upon  receipt of notice in writing to repair  from Party A or
         the Management Company. If Party B shall fail to execute such repair in
         accordance  with the  direction of Party A or the  Management  Company,
         Party A or the  Management  Company  shall  have the right to enter the
         Premises  to carry out such  repairs,  and all loss or $ costs  arising
         there from shall be borne by Party B.

11.07    At the termination of' the Term of the lease,  Party B shall deliver up
         vacant  possession  of the  Premises  to  Party A and  shall at its own
         expenses restore che Premises to its original condition.

11.08    The infestation work of the Building shall be organized by Party A, the
         cost of which shall be shared among all the lessees of the Building

<PAGE>

         according to the area leased. Party B shall take reasonable measures to
         insure that the Premises shall be free from infestation by pest.

11.09    Party B shall be wholly  responsible for the safety of all the property
         within the Premises  including  but without  limitation  all  furnkure,
         fixtures and fittings (whether belonging to Party A or Party B), goods,
         chattels,  samples,  personal effects, contents and stock and to effect
         with an insurance company.

11.10    Party B shall strictly observe and perform all management  regulations,
         introduced  by  Party  A  or  the  Management  Company.   All  business
         activities carried out by Party B in the Premises shall comply with the
         laws and  regulations  of the  Municipal  Government of Beijing and MC.
         11.11Party B shall be entitled to a rent free period for the purpose of
         fitting out the Premises (60] days before the Commencement Date. In the
         rent free period only rant is waived ,the  management fee shall be paid
         still.

11.12    Without  the  written  consent  of  !--t3'  A and the  approval  by the
         relevant  authority,  Party B shall not install any additional locks or
         security  systems in the doors of the  Premises and shall not alter the
         original locks and the security system. if such alteration is required,
         Party B shall apply in writing.

11.13    Except with the written consent. of Party A, Party B shall not transfer
         or SUB - lease  the  Premises  in  whole  or in  part or in any  manner
         whatsoever  $share the use thereof in common or joint1y  with any third
         part Party B's obligation under this Contract shall not in any event be
         reduced or $excepted.

11.14    Party B shall be responsible  for the act of its employees,  customers,
         visitors,  worker or contractors  for fitting out and decoration  works
         and shall bear the  liabilities  to compensate  the losses  suffered by
         Party A and I or any third party by reason of such act of such  person.

12.      PARTY B'S DPCORATION AND FITTIUTOUR WORK

         Any design of fitting out and decoration work need the agreement of the
         management company.

13,      ARERTNINATION OF CONTRNET

<PAGE>

13.01    in the event of the  occurrence  of any of the events set out in Clause
         10.05  hereof,  Party  A shall  have  the  right,  without  making  any
         compensation to Party B, to unilaterally terminate this Contract.

13.02    If Paijy B shall be in breach of any obligation or  responsibilities  [
         provided  in  Clause 11 here of and shall  fail to remedy  such  breach
         within seven (7) day upon notice by Party A or the Management  Company,
         Party A shall have the right to  unilaterally  terminate  this Contract
         and  may b~ L claim  against  Party B for  all  cost  incurred  or loss
         suffered as a result of Party B's breach.

13.03    The  party  encountering  the  force  majeure  shall  have the right to
         terminate  this  Contract  upon  the  happening  of the  force  majeure
         referred to in [ Clause 14 hereof which renders it  impossible  for the
         obligations in this Contract to be performed. $

14       FORCE MGJCIIRE

         In the event of earthquake, typhoon, storm, fire or other unpredictable
         force  majeure  the  happening  or  consequence  of which  shill not be
         prevented or avoided,  the party  encountering  the force majeure shall
         Lii  FORTHWITH  GIVE  notice by telex or fax to the other  parties  and
         shall  within iS days  provide the other  parties  with  details of the
         force majeure a [ documentary evidence proving the reason for not being
         able to perform part or whole of obligations  provided in this Contract
         or  having  to  delay  the  performance  of  such   obligations.   Such
         documentary  evidence shall be issued by the natural  authority located
         where the force majeure  occurred,  In such case, the party affected by
         the force inajeure shall not be responsible for any consequence arising
         from such force majeure.

15.      LIABILITY FHR BREACH OF CONTRACT

15.01    Except as  provided  in Clause 13  hereof,  neither  party  hereto  may
         unilaterally  terminate  this  Contract.  Any party izi  breach of this
         Contract SHALL COMPENSATE THE OTHER PARTY FOR ALL THE ECONOMIC LOSSES (
         including LEGAL COSTS ) arising out of such breach. If it is due to the
         fault of both  parties,  both parties shall be liable for the breach of
         contract according to the actual situation.

15.02    If Party 13 shall be in breach of the contract, Party. A shall have the
         right, in addition to unilaterally  terminate this Contract,  to deduct
         from the Rental  Deposit,  Building  Management  Eec  Deposit and other
         deposits  an  amount  equivalent  to the  loss  suffered  and  expenses
         incurred, Party A

<PAGE>

         shall also have the  additional  right to distrait Party B's facilities
         and goods in the Premises.

15.03    Party A reserves the right with seven (7) days' prior written notice to
         Party 13 to cut off and discontinue the services  without  liability to
         Party B.  whenever  and during any period in which bills fer the same $
         remain  UNPAID  BY  PARTY  13.  THE  COSTS  OF  RE-SUPPLYING  ( such as
         reconnecting the ELECTRICITY SUPPLY AND ,` OR TELEPHONE SERVICES ETC. )
         shall be borne by Party B.

16.      WAIVER OF RIGHTS

         The acceptance of rent by Party A after the knowledge of the occurrence
         Liof a breach of contract  shall not be deemed to $ operate as a waiver
         by Party A of any right to proceed  against Party 13. The waiver of any
         right in this  Contract  by Party A shall not have  effect  unless such
         waiver is Limade in writing.  Acceptance of any rent or other  payments
         which is less than the amount  that  should be payable by Party B shall
         not be deemed to  operate  as an  acceptance  by Party A of such  under
         payment by Party B nor shall it affect Party A's right to claim against
         Party B for the amount due or Party A's right to proceed  against Party
         B pursuant to this Contract or any law or regulation.

17.      DISPUTE RESOLUTION

17.01    The making validity, interpretation, performance and dispute resolution
         L in respect of this Contract shailbe governed by PRC Law. fl 17.02 Any
         dispute  between  Party A and Party B arising from this Contract shaf 1
         Li   be   settled   through    friendly    negotiation,    consultation
         andconcitiation.  In r case  the  dispute  can  not be  settled  in the
         aforesaid manner,  either party Li may apply to the China International
         Economic and Trade  Arbitration  Commission in Beijing for arbitration.
         The  result  of the  arbitration  shall be final  and  binding  on both
         parties.

18.      LEGAL

18.01    Party B shall be solely  responsible for the fees of  notarization  and
         other  incidental  procedures of this  Contract and any other  expenses
         (including  BUT NOT LIMITED  TAXES ) which shall be payable by Party 13
         pursuant  to the laws of the PRC.

18.02    Except as provided in Clause  18.01  hereof,  each party shall bear its
         own

<PAGE>

         legal costs and other  incidental costs arising out of the negotiation.
         preparation and completion of this Contract.

19.      ADDITIONAL CONDITIONS

19.01    If at any time, any provision hereof is or becomes invalid,  illegal or
         unenforceable  in  any  respect,  neither  the  validity,  legality  or
         enforceability  of the remaining  provisions  hereof shall in anyway be
         affected or impaired  thereby.  Both parties shall  continue to perfbrm
         the  remaining  provisions  hereof.

19.02    All notice in writing in connection with this Contract shall be sent by
         registered  post or served by  person to the  registered  office or the
         last known  place of  business  of the other  party.  Unless  otherwise
         specified in such notice,  the  effective  date of such notice shall be
         the date of such  posting or the date of such  services as the case may
         be

19.03    This  Contract is given in Chinese and English  languages.  The EngLish
         language is only a translation  of the Chinese text and in the event of
         any differences of conflict  between the Chinese text and the English
         translation;  the Chinese text shall always prevail. Both version shall
         be signed in two  (2)copies,  each party shall have one(1)  Chinese and
         one(l) English  versions  respectively.

19.04    This Contract  shall be effective  upon the signing and sealing by both
         Party A and Party B. 19.05 This Contract is signed in Beijing,

The lessor                                    The Lessee

Beijing Tongkai Development Co., Ltd.         Beijing CathayOnline Technologies
                                              CO., LTD.

                  (Seal)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}], [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00006-of-00352.parquet"}]]