Document:

Exhibit 4.33

 

 

(English Translation)

 

 

Premises Leasing Agreement

 

 

 

Between

 

China Unicom Corporation Ltd.

 

Unicom New World Telecommunications
Corporation Ltd.

 

And

 

China United Telecommunications Corporation Ltd.

 

 

 

March 24, 2005

 

 

Contents

 

	
  1.

  	
  Scope and Purpose of Lease

  	
   

  
	
  2.

  	
  Validity
  of Lease and Delivery of the Leased Premises

  	
   

  
	
  3.

  	
  Lease Fee, Miscellaneous
  Fees and Payment

  	
   

  
	
  4.

  	
  Decoration,
  Renovation and Advertising

  	
   

  
	
  5.

  	
  The Obligations of the
  Lessee

  	
   

  
	
  6.

  	
  The Obligations of the
  Lessor

  	
   

  
	
  7.

  	
  Commitments and Guarantees

  	
   

  
	
  8.

  	
  Taxation

  	
   

  
	
  9.

  	
  Contingencies

  	
   

  
	
  10.

  	
  Termination and Renewal of the
  Agreement

  	
   

  
	
  11.

  	
  Treatment
  of the Belongings upon Expiry of the Agreement

  	
   

  
	
  12.

  	
  Breach
  Responsibilities

  	
   

  
	
  13.

  	
  Applicable Laws and
  Disputes Settlement

  	
   

  
	
  14.

  	
  Entry into Force

  	
   

  
	
  15.

  	
  Agreement
  Transfer

  	
   

  
	
  16.

  	
  Notification

  	
   

  
	
  17.

  	
  Miscellaneous

  	
   

  

 

 

Premises Leasing Agreement

 

This Agreement is signed by the
representatives of the two parties in Beijing, the People’s Republic of China (“China”)
on March 24, 2005.

 

	
  (1)

  	
   

  	
  lessor:

  	
   

  	
  China Unicom Corporation Ltd. (“CUCL”)

  Address: F12, Bldg A, Henderson Center

                  18,
  Jianguomennei Avenue, Beijing

  Legal representative: Chang Xiaobing

  

  Unicom New World Telecommunications Corporation Ltd.

  (“Unicom New World”)

  Address: Room 1009, F10, Bldg A

  18, Jianguomennei Avenue, Beijing

  Legal representative: Chang Xiaobing

  

  CUCL and Unicom New World are considered the lessor separately or jointly in
  this Agreement.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (2)

  	
   

  	
  lessee:

  	
   

  	
  China United Telecommunications Corporation
  Ltd. (“A Share Company”)

  Address: F40, Jinmao Tower

  Century Avenue, Shanghai

  Legal representative: Chang Xiaobing

  

 

Realizing

 

(1)           CUCL
is a foreign-funded business established and continued in line with Chinese
laws whose equities are wholly held by China
Unicom Limited (the “Red-chip Company”). A Share Company is a corporation
established and continued in line with Chinese laws whose stocks are listed in
Shanghai Stock Exchange (“SSE”) on October 9, 2002. China United
Telecommunications Corporation (“Unicom Group”) holds 69.3224% of its equities.

 

1

 

(2)           On August 12, 2002, Unicom Group and A Share
Company signed a memorandum of understanding on the transactions to be
conducted after the listing of the shares of A Share Company (“Connected
Transactions MoU”) between Unicom Group or its subsidiaries (excluding A Share
Company and the subsidiaries held by A Share Company) and Red-chip Company
indirectly held by A Share Company and its subsidiaries. According to the
understanding reached in the Connected Transactions MoU, in the event that the
transactions to be conducted between Red-chip Company itself or its
subsidiaries and Unicom Group or any of its subsidiaries (excluding A Share
Company and the subsidiaries held by A Share Company) require approval of the
minority shareholders of A Share Company under the Rules Governing the Listing
of Shares on Shanghai Stock Exchange (“Rules of SSE”) applicable from time to
time, which are deemed at the same time as connected transactions that require
approval of the minority shareholders of Red-chip Company under the Rules
Governing the Listing of Securities on the Stock Exchange of Hong Kong Limited (“Rules
of SEHK”) applicable from time to time, the above connected transactions shall
be conducted in a 2-step approach: (1) Unicom Group or any of its subsidiaries
enters into an agreement on the intended transaction with A Share Company or
China Unicom (BVI) Limited (“Unicom BVI”), identifying the rights and
obligations of the 2 parties involved in the transaction under the agreement
(including, but not limited to, approval of Unicom Group of the transfer of the
rights and obligations of A Share Company or Unicom BVI under the agreement to
Red-chip Company or any of its subsidiaries); (2) A Share Company or Unicom BVI
transfers its rights and obligations under the above mentioned agreement to Red-chip
Company or any of its subsidiaries;

 

2

 

(3)           Unicom
New Guoxin Telecommunications Corporation Ltd (“Unicom New Guoxin”) is a company
with limited liability established and continued in line with Chinese laws and
wholly owned by Unicom Group. In light of the Memorandum of Understanding on
Connected Transactions and to the end of Unicom New Guoxin providing operator
services to mobile subscribers of the subsidiaries with domestic operation of
Redchip Company, UCUL, Unicom New Century Telecommunications Corporation Ltd. (“Unicom
New Century”), Unicom New World and A Share Company signed a premises leasing
agreement (“Original Premises Leasing Agreement”) on November 20, 2003. On the
same day, A Share Company signed a transfer agreement on the Original Premises
Leasing Agreement with Unicom New Guoxin, transferring all the rights and
obligations inscribed in the Original Premises Leasing Agreement to Unicom New
Guoxin.

 

(4)           CUCL
assimilated and merged with Unicom New
Century on July 30, 2004, and the rights and obligations of Unicom New World
under the Original Premises Leasing Agreement have been inherited by CUCL.
The Ministry of Commence has approved, pursuant to MOC’S Approval of the Merging between China Unicom Corporation Limited and
Unicom New World Telecommunications Co.
Ltd.(MOC
[2005]No.258), of the merging between CUCL and Unicom New World. At present, CUCL is going through the rest of
the legal procedures necessary for its merging with Unicom New World, upon completion of which Red-chip Company would have CUCL
as its sole operating entity in China;

 

Based on the
observation and revision of the Original Premises Leasing Agreement since its
entry into effect, through joint analysis and consultation and in the principle
of equality and mutual benefits, the parties agree as follows:

 

1.             Scope and Purpose of Lease

 

1.1           To
meet the everyday needs of Unicom New Guoxin, the lessor agrees to lease the
premises under its possession to the lessee based on the written instruction of
the lessee from time to time.

 

1.2           The
lessee uses the above-mentioned premises for officing and operation purposes.

 

3

 

2.             Validity of Lease and Delivery of
the Leased Premises

 

2.1           This
Agreement enters into effect on January 1, 2005 after the conditions of Article
14 of this Agreement have been met. The validity of this Agreement is 2 years
since the entry into effect (“validity”).

 

2.2           The
lessor shall provide an opportunity of inspection for the lessee before the
signature of this Agreement. The leased premises shall be in good condition and
shall meet the requirements of the lessee.

 

3.             Lease Fee, Miscellaneous Fees and
Payment

 

3.1           Standard
of Lease Fee

 

The standard shall be determined by the
subsidiaries of the lessor and the lessee by the higher indicator of the
depreciation cost of the leased premises and the market price of similar local
premises.

 

3.2           In
addition to the above-mentioned lease fee, the lessee shall pay the water,
electricity and air-conditioning fees (miscellaneous fees) on actual user basis
as well as property management fee periodically in line with the price or
tariff standard defined by price regulators.

 

3.3           The
lessor promises not to charge the lessee any other fees (including taxes that
shall be paid by the lessor) except the above-mentioned lease fee,
miscellaneous fees and property management fee as well as the fees occurred due
to the possible breach of this Agreement by the lessee.

 

3.4           The
lease fee, miscellaneous fees and property management fee described above shall
be paid in the following ways:

 

3.4.1        The
lessee shall pay the lessor the lease fee on a quarterly basis within the
validity of this Agreement. The lease fee shall be paid within 5 days following
the end of a quarter.

 

3.4.2        The
miscellaneous fees shall be paid on a monthly basis within the validity of this
Agreement. The lessor shall deliver the bills for miscellaneous fees from the
property management company to the lessee within 5 days following the receipt
of the bills. The lessee may pay the miscellaneous fees either to the property
management company directly or to the lessor who will deliver the fees to the
property management company. In the second case, the lessor shall present the
invoice to the lessee for record.

 

4

 

3.4.3        The
property management fee shall be paid on a monthly basis within the validity of
this Agreement either to the lessor who will deliver the fee to the property management
company or to the property management directly upon the request of the property
management company. In the first case, the lessor shall present the invoice to
the lessee for record.

 

4.             Decoration, Renovation and
Advertising

 

4.1           The
lessor agrees that the lessee may decorate, renovate, upholster and install
facilities in light of its own plan of design. The cost shall be borne solely
by the lessee. However, the decoration and renovation shall not damage the
architectural structure of the leased premises (including but not limited to
the outer wall and the weight-bearing part) and related equipment (excluding reasonable
and natural depreciation), and shall not violate any law or regulation.

 

4.2           All
the construction related to such decoration and renovation shall be conducted
in such an appropriate manner as to ensure personnel and property safety.
Otherwise, the losses and disputes occurred shall be borne fully by the lessee.

 

4.3           Within
the validity of this Agreement and following the consent of the lessor ( the
lessor shall not refuse without a good reason nor postpone its consent), the lessee
may hang, affix, or post the name, logo, symbol and commercial advertisement of
the lessee. Upon the expiration of this Agreement, the lessee shall clear them
and bear related cost.

 

5.             The Obligations of the Lessee

 

5.1           The
lessee shall pay the lease fee and other fees to the lessor in time and in full
balance in accordance with Article 3 of this Agreement. Otherwise, it has to
pay penalties to the lessor according to Article 12 of this Agreement.

 

5.2           The
lessee shall not conduct illegal activities or activities detrimental to the
public interest and shall conform to the requirements of environmental
protection, firefighting and health laws and regulations.

 

5.3           In
the event of the expiration of this Agreement or an early termination of this Agreement,
the lessee shall move all its properties out of the premises within 30 days
following the dismissal of this Agreement. Otherwise, the lessee shall pay
double the daily lease fee based on the yearly lease fee on a pro rata basis.

 

5.4           The
lessee shall not change the purpose of the leased premises without the prior written
consent of the lessor.

 

5

 

6.             The Obligations of the Lessor

 

6.1           The
lessor shall ensure and urge the property management company to well fulfill
its responsibilities including but not limited to:

 

6.1.1        Examining
and repairing the leased premises as well as related public
facilities(including but not limited to the outer structure and invisible
water, electricity and gas pipes) periodically and/or upon the request of the
lessee, so as to ensure the leased premises are in good condition. The property
management company shall be responsible for repairing the damages and the
lessee shall bear the cost of the repair if the damages are caused by the
lessee. For any damage of the public utilities (water, electricity, gas and
telecommunications), the property management shall be responsible for the early
repair as well as the cost.

 

6.1.2        Providing
uninterrupted electricity, water and gas for the lessee unless unforeseeable,
unpreventable or uncontrollable accidents occur.

 

6.1.3        Maintaining
the soundness, openness and sanitation of the public space.

 

6.1.4        Entering
the leased premises and taking appropriate measures with the consent of the
lessee for maintenance, sanitation, guarding, fire prevention and firefighting
purposes. In case of emergency, the property management company may enter the
leased premises and take necessary measures without the consent of the lessee
but shall contact the lessee immediately afterwards.

 

6.1.5        The
management fee for the leased premises shall be borne by the lessee.

 

6.2           The
lessor shall take the responsibility of handling the relationship with concerned
government authorities and other agencies (including but not limited to public
security agencies and fire fighting departments) and bear all incurred costs if
such relationship is incurred by the leased premise. If the relationship with concerned
government authorities and other agencies is incurred by the lessee due to the
breach of this Agreement, the lessee shall bear the responsibility of handling
such relationship and bear all incurred costs thereafter.

 

6

 

6.3           Within
the period of validity, if the lessor transfers part or the entire leased
premise to any third party, the lessor pledges that the precondition for the
transfer is that the new owner of the leased premise accepts this Agreement and
that the lessee shall be informed 90 days in advance. Moreover, the transfer of
the leased premise will neither induce the termination or invalidity of this Agreement,
nor exert any negative influence upon the rights, interests and operation
activities of the lessee under this Agreement. The lessor also pledges that the
new owner of the leased premise will sign a new agreement with the lessee with
the articles of the new agreement the same as the old ones. Otherwise the
leased premise cannot be transferred to any third person.

 

6.4           The
rebuilding of the leased premise by the lessor within the lease term shall not
affect the normal operation or business activities of the lessee and the lessor
shall first obtain the written approval from the lessee for such
reconstruction. Otherwise the lessee has the right to terminate the agreement
and require the lessor to make up for the fees incurred by the decoration, the operation
loss or any other losses incurred by the move of offices.

 

7.             Commitments and Guarantees

 

7.1           Both
the lessor and the lessee make the following commitments and guarantees:

 

7.1.1        They
are the legal persons of the durable enterprises that are established according
to the laws;

 

7.1.2        They
have all the rights and authorizations to sign the agreement and fulfill the
obligations under this Agreement;

 

7.1.3        The
representatives who signed this Agreement have obtained such authorization.

 

7.2           The
lessor pledges that it possesses the legitimate property rights of the leased
premise and the rights to lease it. Under any circumstance and for any reason,
if there is any dispute over the property rights and such dispute causes
failure to enjoy the rights or induces any other damages to the lessee, the
lessor agrees to make compensation for all the losses caused thereafter.

 

7

 

7.3           The
lessor pledges that the leased premise is an legitimated and valid building,
whose planning, design and construction are in compliance with the requirements
for land uses and related laws and regulations, that there is no possibility
for the requisition of the usage rights of the building or the land by the
government or related government agencies, that there is no impingement on the
rights and interests of any third party, and that there is no real or potential
lawsuits, arbitration, disputes or other legal problems against the leased premise.
If there is any other party except the lessor claims that right, the issue
shall be resolved by the lessor.

 

7.4           The
lessor pledges that the leased premise is not a mortgage of any bank, company
or individual and there is no interest or rights of the third party involved.

 

7.5           The
lessor or any other person shall not take any actions that may affect the interests
and rights of the lessee over the leased premise.

 

7.6           The
lessor pledges that the leased premise is in good conditions and the lessor
agrees to regularly and/or irregularly repair and maintain the related public
facilities upon the request of the lessee.

 

7.7           All
parties pledge to pay their respective taxes and fees in accordance with the
relevant laws and regulations of China.

 

8.             Taxation

 

8.1           All
the taxes incurred by the leased premise under this Agreement and the
management fees and other fees (if any) concerning the leased premise collected
by the central government or the local government shall be paid by each party
accordingly unless the laws stipulates otherwise.

 

9.             Contingencies

 

9.1           Where
a fire or other contingencies that are not within the responsibilities of the
lessee cause the damage to the leased premise, the lessor shall take immediate
actions to repair the damaged premise and bear all related costs if the lessee
makes unilateral judgment that the damage does not seriously affect the usage
of the premise.

 

8

 

9.2           Where
a fire or other contingencies that are not within the responsibilities of the
lessee cause the damage to the leased premise, the lessee may chose to send out
a written notice to the lessor to terminate the lease of the damaged premise if
the lessee makes unilateral judgment that the damage seriously affects the
usage of the premise. Under such situation, the lessee shall not pay the lease
fees of the damaged premise from the day when the accident takes place.

 

10.          Termination and Renewal of the Agreement

 

10.1         The
lessee may terminate part or the entire agreement if the written notice has
been sent to the lessor 60 days in advance and the termination issue can be
discussed according to the provisions of this Agreement.

 

10.2         If
the lessee sends out the written renewal notices to the lessor within 60 days
prior to the expiry of this Agreement or the expiry of the extension period,
this Agreement will extend for anther valid period in accordance with
applicable laws, regulations and other regulatory rules unless there are other
legal reasons for the failure of renewal beyond the control of the lessor.

 

11.          Treatment of the Belongings upon Expiry of the
Agreement

 

11.1         If
this Agreement terminates upon the expiry or is terminated in advance according
to related articles and the fitments and decorations added by the lessee upon
the written approval of the lessor have become part of the real estate that
cannot be divided from the leased premise, they will belong to the lessor after
the lessor makes an payment for them at the converted price in real term.

 

12.          Breach Responsibilities

 

12.1         If
the lessee does not pay the related lease fees or payments within the agreed
time limit according to Article 3 of this Agreement, the lessee shall pay the delinquent
lease fees or other fees to the lessor and 30 days after the overdue, the
lessee shall also pay a fee equivalent to 0.01% of the delinquent lease fees or
payments as the daily penalty fees every day.

 

12.2         If
the lessee uses the leased premise for other purposes without the written
approval of the lessor, the lessor has the right to take back the leased
premise. The loss incurred thereafter will be compensated by the lessee.

 

9

 

12.3         Failure
to fulfill any obligation specified in any article by any party is regarded as
the breach of this Agreement unless otherwise stipulated this Agreement. The
defaulting party shall correct its breaching behaviors within 30 days since it
receives the written notice of the non-defaulting party that specifies the
breaching behaviors. If the defaulting party does not correct its breaching
behaviors, the non-defaulting party has the right to terminate this Agreement
and the defaulting party shall make compensation to the non-defaulting party
for its compliance with this Agreement.

 

13.          Applicable Laws and Disputes Settlement

 

13.1         This Agreement is subject to the
jurisdiction, interpretation and execution of Chinese laws.

 

13.2         In
case of disputes over the validity, interpretation, and implementation of this
Agreement, all parties shall try to resolve them through friendly
consultations. If the dispute cannot be resolved through consultations within
30 days since its occurrence, any party has the right to lodge a suit to the
people’s court with such jurisdiction.

 

14.          Entry into Force

 

This Agreement shall come into effect on the
date agreed upon by all parties and when the following conditions are met.

 

14.1         The
Shareholders’ Meetings of Red-chip Company approves the implementation of this
Agreement according to applicable laws, regulations and listing rules;

 

14.2         The
Shareholders’ Meeting of the lessee approves the transfer of the rights and
obligations of the lessee under this Agreement to Unicom New Guoxin in
accordance with applicable laws, regulations and listing rules.

 

15.          Agreement Transfer

 

15.1         In
accordance with terms and conditions formulated on the basis of this Agreement
and the commitments in the Memorandum of Understanding on Connected Transactions,
the consent from the lessor on the transfer of the rights and obligations of
the lessee under this Agreement to Unicom New Guoxin is irrepealable and the
lessee may transfer its rights and obligations under this Agreement to Unicom
New Guoxin without any consent from the lessor.

 

10

 

15.2         Once
the lessee transfers its rights and obligations under this Agreement to Unicom
New Guoxin, Unicom New Guoxin will inherit all the rights and obligations of
the lessee under this Agreement and the lessee shall terminate the related
obligations and rights inherited by Unicom New Guoxin.

 

16.          Notification

 

Any notification
related to this Agreement shall be made in written form and sent by one party
of this Agreement to the other, either via a special courier, or by fax, or by postal delivery, to the
other party. Such notification is deemed as delivered upon delivery via a
special courier, or when the sender’s fax machine indicates that the pages have
been transmitted if it is sent by fax, or on the 3rd working
day(excluding legal holidays)after it is mailed. Any notification shall be
deemed as valid upon delivery.

 

The Address of each party is listed below:

Unicom New World Telecommunications
Corporation Limited

Addressee: Xiaowei Yang

Address: Room 1029, Floor 10, A 133, North
Xidan Avenue, Xicheng District, Beijing

Postal Code: 100032

 

 

China Unicom Corporation Ltd.

Addressee: Xiaowei Yang

Address: Room 1029, Floor 10, A 133, North
Xidan Avenue, Xicheng District, Beijing

Postal Code: 100032

 

 

China United Telecommunications
Corporation Ltd.

Addressee:
Yilei Zhao

Address:
Floor 40, Jinmao Tower, No. 88 Century Avenue, Shanghai 

Postal
Code: 200121

 

11

 

17.          Miscellaneous

 

17.1         The Original Premises Leasing Agreement terminates immediately after this Agreement
enters into force.

 

17.2         This Agreement can be amended or supplemented
with an agreement with all parties through consultations. All amendments and
supplements shall come into force the date when they were signed and sealed by
the legal or authorized representatives of all parties.

 

17.3         This Agreement is divisible. If
there is any provision confirmed illegal or unenforceable, it shall not affect
the validity and execution of other provisions.

 

17.4         This
Agreement is signed in sextuplicate and each party possesses two copies. The
original text of each copy is equally binding.

 

12

 

(no text on this page)

 

 

China Unicom Corporation Ltd. (seal)

 

 

	
  Legal or authorized representative:

  	
  /s/ Tong Jilu

  	
   

  

 

 

 

 

Unicom New World Telecommunications
Corporation Limited (seal)

 

 

	
  Legal or authorized representative:

  	
  /s/ Tong Jilu

  	
   

  

 

 

 

 

China United Telecommunications Corporation
Ltd. (seal)

 

 

	
  Legal or authorized representative:

  	
  /s/ Sun Qian

  	
   

  

 

13Exhibit 4.34

 

(English Translation)

 

 

Transfer Agreement of

The Premises Leasing Agreement

 

 

 

Between

China United Telecommunications Corporation
Ltd.

And

Unicom New Guoxin Telecommunications
Corporation Ltd.

 

 

 

March 24, 2005

 

 

This Agreement
was signed in Beijing, People’s Republic of China (“China”), on March 24,
2005, by the representatives of the following parties:

 

(1)                                  The
Transferor:

 

China United
Telecommunications Corporation Limited (“A Share Company”) 

Location: F40th, Jinmao Building, No.88 ShiJi Avenue, Shanghai 

Legal Representative: Chang Xiaobing

 

(2)                                  The
Transferee:

 

Unicom New
Guoxin Telecommunications Corporation Limited (“Unicom New Guoxin”)

Location: Boruiqi Mansion, No. 53, Xibianmen Nei Street, Xuanwu District,
Beijing 

Legal Representative: Ge Lei

 

Whereas,

 

(1)                                  Unicom
New Guoxin is a company with limited liability established and continued in
line with Chinese laws and wholly owned by China United Telecommunications
Corporation (“Unicom Group”). Unicom A Share Company is a limited holding
company established and survived in compliance with the Chinese law, listed in
Shanghai Stock Exchange (“SSE”) on October 9, 2002, with 69.3224% of its
shares being held by Unicom Group;

 

1

 

(2)                                  On
August 12, 2002, Unicom Group and A Share Company signed a memorandum of
understanding on the transactions to be conducted after the listing of the
shares of A Share Company (“Connected Transactions MoU”) between Unicom Group
or its subsidiaries (excluding A Share Company and the subsidiaries held by A
Share Company) and China Unicom Limited (“Red-chip Company”) indirectly held by
A Share Company and its subsidiaries. According to the understanding reached in
the Connected Transactions MoU, in the event that the transactions to be
conducted between Red-chip Company itself or its subsidiaries and Unicom Group
or any of its subsidiaries (excluding A Share Company and the subsidiaries held
by A Share Company) require approval of the minority shareholders of A Share
Company under the Rules Governing the Listing of Shares on Shanghai Stock
Exchange (“Rules of SSE”) applicable from time to time, which are deemed
at the same time as connected transactions that require approval of the
minority shareholders of Red-chip Company under the Rules Governing the
Listing of Securities on the Stock Exchange of Hong Kong Limited
(“Rules of SEHK”) applicable from time to time, the above connected
transactions shall be conducted in a 2-step approach: (1) Unicom Group or
any of its subsidiaries enters into an agreement on the intended transaction
with A Share Company or China Unicom (BVI) Limited (“Unicom BVI”), identifying
the rights and obligations of the 2 parties involved in the transaction under
the agreement (including, but not limited to, approval of Unicom Group of the
transfer of the rights and obligations of A Share Company or Unicom BVI under
the agreement to Red-chip Company or any of its subsidiaries); (2) A Share
Company or Unicom BVI transfers its rights and obligations under the above
mentioned agreement to Red-chip Company or any of its subsidiaries;

 

2

 

(3)                                  Pursuant
to the arrangements made in the above mentioned Connected Transactions MoU, in
order for Unicom New Guoxin to provide operator service to mobile subscribers
of the subsidiaries with domestic operation of Red-chip Company, China Unicom
Corporation Limited (“CUCL”), Unicom New Century Telecommunications Corporation
Limited (“Unicom New Century”) and Unicom New World Telecommunications
Corporation Limited (“Unicom New World”) signed the leasing agreement with A
Share Company on November 20, 2003 (“Original Premises Leasing
Agreement”). On the same day, A Share Company signed the Agreement on Transfer
of the Original Premises Leasing Agreement with Unicom New Guoxin to transfer
all its rights and obligations under the Original Premises Leasing Agreement to
Unicom New Guoxin;

 

(4)                                  CUCL
is a foreign invested enterprise established and survived in compliance with the
Chinese law, with 100% of its shares being held by Red-chip Company. CUCL
assimilated and merged with Unicom New Century on July 30, 2004, and the
rights and obligations of Unicom New Century under the Original Premises
Leasing Agreement have been inherited by CUCL. The Ministry of Commence has
approved, pursuant to MOC’S Approval of the
Merging between China Unicom Corporation Limited and Unicom New World
Telecommunications Co. Ltd.(MOC [2005]No.258), of the merging
between CUCL and Unicom New World. At present, CUCL is going through the rest
of the legal procedures necessary for its merging with Unicom New World, upon
completion of which Red-chip Company would have CUCL as its sole operating
entity in China;

 

(5)                                  CUCL
and A Share Company have entered into a Premises Leasing Agreement on
March 24, 2005 (“Premises Leasing Agreement”).

 

3

 

Considering of
the implementation and amendment of the original Premises Leasing Agreement,
with common studies and consultations, the Parties to this Agreement, in the
principle of equality and mutual benefit, have agreed as follows:

 

1.                                       If
the conditions of entry into force described in Article 6 of this
Agreement were met, the Transferor agrees to transfer all its rights and
obligations under the Premises Leasing Agreement and its attachments to the
Transferee. The Transferee hereupon agrees to acquire the rights and
obligations of the Transferor under the Premises Leasing Agreement.

 

2.                                       Once
the Transferor transferred its rights and obligations under the Premises
Leasing Agreement to the Transferee, the Transferee would immediately succeed
to all the rights and obligations of the Transferor under the Premises Leasing
Agreement, and the Transferor should terminate all the relevant rights and
obligations succeeded by the Transferee under the Premises Leasing Agreement.

 

3.                                       The
Transferor acknowledges that, in accordance with Article 15 of the
Premises Leasing Agreement, CUCL has irrepealably agreed that the Transferor
may transfer its rights and obligations under the Premises Leasing Agreement to
the Transferee, and no further consent from the CUCL for such transfer is
required.

 

4.                                       The
Parties to this Agreement should ensure that they have the rights, power and
capability to sign and implement this Agreement. This Agreement shall
constitute the lawful, effective and binding obligations of the Parties
immediately upon its signing.

 

5.                                       The
Transferee agrees to undertake the rights and obligations in the past and
future under the Premises Leasing Agreement in compliance with the terms and
conditions defined in the Premises Leasing Agreement in its period of validity.

 

6.                                       Come
into Effect

 

This Agreement
comes into effect together with the Premises Leasing Agreement, with the
following conditions being satisfied.

 

4

 

6.1                                 The
shareholders’ meeting of Red-chip Company approves in accordance with its
applicable laws, regulations and listing rules, the implementation of the
Premises Leasing Agreement;

 

6.2                                 The
shareholders’ meeting of the Transferor approves in accordance with its
applicable laws, regulations, and listing rules, the implementation of the
Premises Leasing Agreement.

 

7.                                       Force
Majeure

 

Any party who
fails to carry out the relevant obligations under this Agreement in accordance
with the agreed conditions due to any events of Force Majeure which could not
be predicted, and the occurrence or results of which could not be avoided or
overcome, the party should inform other parties of its occurrence as soon as
possible and thereafter provide detailed information and a valid document for
evidence explaining the reason of its inability to execute or delay the
execution of all or part of the obligations under this Agreement and its attachments
within 15 days. The Parties shall, through consultations, decide whether to
suspend, partially exempt or delay the execution of such obligations according
to the effects of the events of Force Majeure on the performance of the
obligation.

 

8.                                       Confidentiality

 

Unless
otherwise defined or required by law or the relevant regulatory authority, or
for the purpose of information disclosure by the Transferor to SEC, or by
Red-chip Company to Stock Exchange of Hong Kong Limited (SEHK), either party
shall not provide or disclose any data or information related to the business
of other parties to any company, enterprise, organization or personnel without
the written permission of the relevant party.

 

5

 

9.                                       No
waiver

 

Unless
otherwise stipulated by law, the failure or delay of execution of the rights,
power or privileges under this Agreement by any party shall not be construed as
a waiver of such rights, power or privileges. And the partial execution of such
rights, power and privileges shall not obstruct the future execution of such
rights, power and privileges.

 

10.                                 Notice

 

Any notice
related to this Agreement shall be made in writing, and delivered in person by
one party to other parties, or sent by facsimile or by mail. Such notices shall
be deemed delivered upon receipt when delivered in person; or upon confirmation
of delivery displayed in the fax machine of the addresser if transmitted by
facsimile; or within three working days (automatically extended when falls on
legal holidays) after being delivered by mail. Any notice shall come into
effect upon delivery.

 

The
communication addresses of the Parties to this Agreement are as follows: 

	
  China United Telecommunications Corporation Ltd.

  	
   

  	
  Unicom New Guoxin Telecommunications Corporation Limited

  
	
  Addressee:
  Zhao Yilei

  	
   

  	
  Addressee:
  Xiao Baoyu

  
	
  Address:
  F40th, Jinmao Building, No.88 ShiJi Avenue, Shanghai

  	
   

  	
  Address:
  Room 873, F8, No. 133 A, Xidan North Street, Xicheng District,
  Beijing

  
	
  Postal Code:
  200121

  	
   

  	
  Postal Code:
  100032

  

 

11.                                 Applicable
Law

 

This Agreement
shall be governed by the laws of the People’s Republic of China, and be
construed and executed in accordance with the laws of China.

 

6

 

12.                                 Settlement
of Disputes

 

All disputes
arising from the effectiveness, interpretation or performance of this Agreement
shall be settled through friendly negotiation. Should no settlement be reached
through negotiation within 30 days after the arising of the disputes, any party
shall be entitled to proceed to the People’s Court with proper jurisdiction.

 

13.                                 Miscellaneous

 

13.1                           Each
party may make revisions or supplements to this Agreement under consultations
with other Parties. All the revisions and supplements shall be effective when
signed and sealed by the legal representatives of the Parties or their
authorized representatives.

 

13.2                           This
Agreement is severable. If any provisions of this Agreement is held to be
against the law or unenforceable, the effectiveness and implementation of the
remaining provisions shall not be affected.

 

13.3                           This Agreement was done in four
original copies, two for each Party, being equally authenticated.

 

7

 

(No text on this page)

 

 

China
United Telecommunications Corporation Limited (Stamp)

 

 

	
  Legal
  representative or his authorized representative:

  	
  /s/ Sun Qian

  	
   

  

 

 

 

 

Unicom
New Guoxin Telecommunications Corporation Limited (Stamp)

 

 

	
  Legal
  representative or his authorized representative:

  	
  /s/ Cheng
  Huoming

  	
   

  

 

8

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