Document:

Share Transfer Contract

 Exhibit 10.15 
 Execution Copy 
  
 Contract 
 By and Between 
 Beijing Peking University Education Investment Co., Ltd. 
 And 
 Prosperity Holdings Limited 
 On Transfer of 46.67% Shares of 
 Beijing Jade Bird Educational Information Technology Co. Ltd. 
 Held by 
 Beijing Peking University Education
Investment Co. Ltd. 

 Execution Copy 
  
  

 Table of Content 
  

			
		
	Article 1	 	Definitions
		
	Article 2	 	Share Transfer
		
	Article 3	 	Conditions Precedent
		
	Article 4	 	Consideration and Completion of Share Transfer
		
	Article 5	 	Presentations, Undertakings and Warranties of Both Parties
		
	Article 6	 	Remedies
		
	Article 7	 	Termination
		
	Article 8	 	Force Majeure
		
	Article 9	 	Confidentiality
		
	Article 10	 	Miscellaneous
		
	Appendix:	 	Letter of Disclosure

 Execution Copy 
  
  

 This share transfer contract (hereinafter referred to as “the Contract”) is entered into by
and between the following two parties on October 20, 2006 at Beijing, China: 
 Party A: Beijing Peking University Education Investment
Co., Ltd 
 Official Address: 3rd District, Yanyuan, No.5 Haidian Road, Haidian District, Beijing 
 Legal Representative: Xu Zhixiang 
 Title:
Chairman of the Board of Directors 
 Nationality: Chinese 
 Party B: Prosperity Holdings Limited 
  

			
	Official Address:	 	 C/O Close Trustees (Cayman) Ltd.
 PO Box 1034GT, 4th Floor
 103 South Church Street
 Grand Cayman, Cayman
Islands

  

			
	Authorized Representative:	 	David Hand

  

			
	Title:	 	Director

  

			
	Nationality:	 	the United States of America

 WHEREAS: 
  

	A.	Party A is a company duly incorporated and existing under the laws of the People’s Republic of China (“PRC”). 

  

	B.	Beijing Jade Bird Educational Information Technology Co., Ltd. (“the Company”) is a company duly incorporated and existing under the laws of PRC, in which
Party A holds 70% of its shares and other individuals collectively hold 30% of its shares. 

  

	C.	Party B, is a limited liability company duly incorporated and existing under the laws of Cayman Islands. 

  

	D.	Party A agrees to transfer to Party B 46.67% of shares of the Company, and Party B agrees to accept the afore-mentioned shares. 

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 The two parties hereby agree as follows: 
 Article 1 Definition 
  

							
	1.1	  	Party A	    	Refers to	    	Beijing Peking University Education Investment Co., Ltd
				
	 1.2
	  	Party B	    	 Refers to
	    	 Prosperity Holdings Limited

				
	1.3	  	Company	    	Refers to	    	Beijing Jade Bird Educational Information Technology Co., Ltd.
				
	1.4	  	Target Share	    	Refers to	    	46.67% of the shares of the Company currently held by Party A and intended to be transferred to Party B, including titles, profit distribution rights, asset distribution rights and
all other rights in connection with such shareholding and which the shareholders of the Company are entitled to under the articles of association of the Company and PRC laws.
				
	1.5	  	 Target
 Share Transfer

	    	Refers to	    	Party A transfers the Target Share it currently holds to Party B according to the Contract
				
	1.6	  	Closing Date	    	Refers to	    	Date on which CBEX releases the Transfer Price according to Article 4.2 of this Contract to Party A
				
	1.7	  	Examination and Approval Authority	    	Refers to	    	Ministry of Commerce of PRC or its local delegates
				
	1.8	  	CBEX	    	Refers to	    	China Beijing Equity Exchange
				
	1.9	  	PRC	    	Refers to	    	The People’s Republic of China (so far as the Contract is concerned, Hong Kong Special Administration Region, Macau Special Administration Region and Taiwan are not included.)

				
	1.10	  	Transfer Price	    	Refers to	    	The price of the Target Share that Party A transfers to Party B as stipulated in Article 4.1 of the Contract.

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 Article 2 Share Transfer 
  

	2.1	Party A agrees to transfer and Party B agrees to accept the Target Share, provided that the Conditions Precedent prescribed in Article 3 of the Contract are met.

  

	2.2	Party A shall remain entitled to the Company’s profits attributable to it according to its equity in the Company by the Closing date. 

 Article 3 Conditions Precedent 
  

	3.1	Party B shall not be obliged to make payment of the Transfer Price unless all and any of the following conditions precedent are satisfied. Party B shall have the right,
but not the obligation, to waive one or more of the following conditions: 

  

	 	(1)	The Company has adopted a board resolution and a shareholders’ meeting resolution to approve the Target Share Transfer; 

  

	 	(2)	All the shareholders of the Company except for Party A, have respectively issued letters of undertaking, consenting to Party A’s Target Share Transfer and waiving
their right of first refusal (or such undertaking has been included in shareholders’ meeting resolution of the Company); 

  

	 	(3)	Party A’s supervisory authority Peking University/Ministry of Education has approved the Target Share Transfer contemplated by this Contract;

  

	 	(4)	Party A and all other relevant parties have entered into all necessary contracts, agreements and other relevant documents, and completed all legal formalities required
by PRC laws and regulations, including without limitation assets evaluation, announcement, transfer of state-owned equity through tender and bidding at relevant assets transfer center; [Procedures in Article 3.1 (4) shall not be applicable in
case that state-owned assets administration authority exempts the Target Share Transfer from such procedures.] 

  

	 	(5)	The Target Share Transfer has obtained approvals, consents and permits of the state-owned asset administration authorities (fully effective and free from being
nullified or revoked on the Closing Date of the transfer), including without limitation assets evaluation report of the Company issued by qualified evaluation institute, filing of the assets evaluation report with the state-owned assets
administration and its approval on the Target Share Transfer; 

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	 	(6)	The Target Share Transfer has obtained approval for share transfer hereunder issued by Examination and Approval Authority, Certificate of Approval for Establishment of
Foreign Investment Enterprise and Enterprise Legal Person Business License issued by the Administration for Industry and Commerce 

  

	 	(7)	By the Closing Date, the business and financial situation of the Company does not have substantial adverse change. 

  

	 	(8)	By the Closing Date, all the representations, undertakings and warranties made by Party A are true, accurate and sufficient; 

  

	 	(9)	By the Closing Date, there has been no change in PRC law which frustrates the purpose of the Contract. 

 Article 4 Transfer Price and Completion of Target Share Transfer 
  

	4.1	Both parties hereby unanimously agree that the Transfer Price for Target Share Transfer shall be US$ 10.5 million. Party B shall make payment of the afore-mentioned
Transfer Price in US dollar. 

  

	4.2	After the Company obtains approval and certificate from Examination and Approval Authority with respect to the Target Share Transfer, Party B shall make payment of all
Transfer Price as afore-mentioned in Article 4.1 to a designed bank account by CBEX, in accordance with the Escrow and Settlement Agreement of Equity Transaction Fund (“Escrow Agreement”) entered into by Party A, Party B and CBEX; after
completion of alteration registration formalities with the administration for industry and commerce with respect to the Target Share Transfer by the Company, CBEX will make payment to Party A’s designated bank account all Transfer Price as
afore-mentioned in Article 4.1. 

  

	4.3	Within 7 days (or at such period of time the parties otherwise agreed upon) after receipt of payment of all the Transfer Price, Party A shall issue to Party B a written
document evidencing receipt of the same. 

 Article 5 Presentations, Undertakings and Warranties 

 

	5.1	Party A hereby unconditionally and irrevocably makes the following presentations, undertakings and warranties to Party B that, by the Closing Date of the Target Share
Transfer: 

  

	 	(1)	Party A is a limited liability company duly incorporated and existing under the laws of PRC. 

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	 	(2)	Party A has full and exclusive ownership and right of disposal on Target Share to be transferred to Party B pursuant to the Contract; the Target Share is free from any
secured interest or third party interest such as pledge, neither does it have any legal or factual flaws with respect to disclosure in connection with any third party interest. 

  

	 	(3)	All permits and licenses which are necessary for the continuous operation of Company’s business, including without limitation Certificate for Running
Non-government Schools issued by education authority or labor and social security authority, Certificate of Approval for High and New Technology Enterprise, are fully effective and by the Closing Date of the Transfer and Party A will assist the
Company in maintaining effectiveness of the aforementioned licenses and certificates during the existence of the Company; 

  

	 	(4)	Except for those events disclosed in Appendix-Letter of Disclosure, Party A’s execution of the Contract, it’s exercise of rights and performance of
obligations hereunder, shall not violate: 

  

	 	(a)	restrictions imposed by governing laws, regulations, rules, judgments, rulings, arbitration awards, administrative decisions and orders binding or having impact on
Party A; 

  

	 	(b)	any documents, contracts or agreements to which Party A is a party, or which have binding effect on Party A’s assets; 

  

	 	(c)	Articles of Association and internal regulations of Party A. 

  

	 	(5)	Party A has not been involved in any litigation, arbitration or any other legal or administrative proceedings which are on-going, pending, to be initiated, or claimed
to be initiated by a third party, which will or may prevent the Target Share Transfer under the Contract from being completed. 

  

	 	(6)	Except for those events disclosed in Appendix-Letter of Disclosure, all other actions to be taken and conditions or issues to be fulfilled by Party A required by
applicable laws have been taken, complied with and performed on or before the signing date of the Contract, so as to: 

  

	 	(a)	enable Party A to legitimately enter into the Contract and perform its obligations hereunder, 

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	 	(b)	make Party A’s obligations and responsibilities under the Contract legal, effective and enforceable; 

  

	 	(c)	make the Contract admissible as evidence in the PRC. 

  

	 	(7)	Party A’s execution and performance of the Contract is fully within its authority and has been duly authorized. 

  

	 	(8)	The presentation of item (A) and (B) of the “WHEREAS” section is true and accurate, and all the capital contribution relating to the Target Share
has been fully made. 

  

	 	(9)	Party A warrants that, in addition to those events disclosed in Appendix-Letter of Disclosure, it has made full disclosure to Party B all such materials, which would
substantively and adversely affect Party A’s capacity to fully perform its obligation under the Contract, or, if disclosed to Party B, will substantively and adversely affect Party B’s willingness to enter into the Contract. Moreover, all
such events it disclosed and all such materials it provided to Party B (including without limitation to all the materials Party A provided during the due diligence carried out by Party B or its counsel for the Target Share Transfer) are true,
complete accurate, and free from any substantive inaccurate or misleading presentations. 

  

	 	(10)	Party A warrants that the accounting books of the Company are complete, and the financial statements disclosed by the Company for the Target Share Transfer are prepared
in accordance with current PRC laws, regulations, rules and accounting standards. The afore-mentioned accounting books and financial statements completely, truly and accurately reflect the financial status and profits of the Company by the end of
relative fiscal periods. From the date of the financial statements issued to the Closing Date of the Target Share Transfer, the business or financial status of the Company do not have any substantive and adverse change. 

  

	 	(11)	Party A warrants that, except for those events disclosed in Appendix-Letter of Disclosure, the Company has not ever violated any PRC laws or regulation which may result
in adverse effect on the transaction; the Company is not involved in any pending material litigations, arbitrations or administrative penalties which may result in adverse effect on the transaction. 

  

	 	(12)	Party A warrants that, from the establishment date of the Company to the Closing Date, the Company has complied with all relevant tax laws and regulations, has made
full payment of all taxes and charges explicitly collected by the tax authority, has not received any reminder letter from tax authority or any other relevant authority and has not been subject to punishment which may result in adverse effect on the
transaction due to tax related issues, and does not have any pending tax investigations or disputes which may result in adverse effect on the transaction; 

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	 	(13)	Party A warrants that, it will made full payment of all and any taxes and fees imposed upon the Transfer Price from the Target Share Transfer in accordance with
relevant PRC laws and regulations; 

  

	 	(14)	Party A warrants that, the Company has provided Party B with a complete list of all the franchise contracts, as well as those decoration, equipments purchase, printing
and advertisement contracts with a contract price in excess of RMB 2 million, which are currently being performed and relate to the operation of the Company’s business by the Closing Date. 

  

	 	(15)	Party A warrants that, except for those connected transactions disclosed in Appendix- Letter of Disclosure, between and among the Company and its subsidiaries, and
between or among such subsidiaries, the Company does not have any other connected transactions. 

  

	 	(16)	Party A warrants that it lawfully owns or has the right to use all the patent, patent right, invention, copyright and know-how (including industrial secrets, other
non-patent or non-patentable know-how or confidential information, systems or programs), trademark, service logo and trade name (hereinafter referred to as “IP”), which the Company currently uses and which are related to the business
operation of the Company. Regarding the afore-mentioned IP, the Company has not received any notice claiming infringement or dispute with rights announced by others; In addition, during operation of business, the Company currently is not involved in
any infringement of any patent, copyright, ownership, trademark, service logo, commercial logo or other intellectual property domestically registered (except for the office softwares daily used). 

  

	 	(17)	Party A warrants that, except for those events disclosed in Appendix- Letter of Disclosure, the Company does not have any other labor disputes with its senior
management staff members. 

  

	 	(18)	Party A warrants that, except for those disclosed in Appendix—Letter of Disclosure, any losses incurred to the Company before the Closing Date of the Target Share
Transfer caused by Party A’s intention or significant negligence and becomes known to Party B after the Closing Date of the Target Share Transfer, shall be born by Party A, and shall be irrelevant to the Company after the change of
shareholders. 

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	 	(19)	Party A warrants that after the signing of the Contract, it will cooperate with Party B and other organizations to facilitate the fulfillment of all conditions
precedent specified in Article 3 hereof, thus to ensure the Target Share Transfer from Party A to Party B. Party A shall, by itself or authorize the Company, submit to related authorities all documents, carry out and complete filing and approval
formalities required for the Target Share Transfer, thus to ensure Party B acquire all the documents stipulated in laws and regulations and complete the delivery of Target Share within stipulated period. 

  

	 	(20)	Party A warrants that, upon receipt of any approval, reply or notice on any amendments or supplements to the documents submitted from the authority in charge in
connection with the Target Share Transfer, it shall inform Party B immediately and deliver to Party B photocopies of such documents and notices. 

  

	 	(21)	Where, at anytime before the Closing Date of the Target Share Transfer (inclusive), Party A realizes any situation which will make the presentations, undertakings and
warranties it made under the Contract become untrue or inaccurate, Party A shall inform Party B immediately and take remedial measures as reasonably required by Party B. 

  

	 	(22)	Upon execution and coming into force, the Contract will be legally and effectively binding on Party A, the articles thereof will be enforceable, and Party A undertakes
it shall not be entitled to any right of exemption. 

  

	 	(23)	All presentations, undertakings and warranties Party A made above are true, accurate, complete, sufficient, unconditional and without reservation.

  

	5.2	Party B hereby unconditionally and irrevocably makes the following presentations, undertakings and warranties to Party A that, by the Closing Date of the Target Share
Transfer: 

  

	 	(1)	Party B has been a limited liability company duly incorporated and existing under the laws of Cayman Islands. 

  

	 	(2)	Party B’s execution and performance of the Contract is fully within its authority and scope of business and is duly authorized by the company. It will not violate
any restrictions imposed by binding or influential laws, regulations, rules, judgments, rulings, articles of association, internal regulations and contracts; Upon execution and coming into force, the Contract will become legally and effectively
binding, and articles specified herein shall be enforceable. 

  

	 	(3)	The shareholder of Party B is Crescent Jade Limited, which is a limited liability company controlled by CPV Investments Limited. 

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	 	(4)	Party B has not been involved in any litigation, arbitration or any other legal or administrative proceedings which are on-going, pending, to be initiated, or claimed
to be initiated by a third party and will or may substantively affect the Target Share Transfer under the Contract. 

  

	 	(5)	Party B warrants that, promptly after the signing of the Contract, it will cooperate with Party A and other organizations to facilitate the fulfillment of all
conditions precedent specified in Article 3, thus to ensure the Party B’s receipt of Target Share. 

  

	 	(6)	Party B will produce all the necessary documents required by Examination and Approval Authority and other governmental authorities, including without limitation the
identification certificate of Party B, which has been notarized by the notary public of the home state of Party B and has been legalized by the PRC embassy (consulate) in that state, and a bank reference letter; Party B will also cooperate with
Party A in completion of all procedures of approvals and registration in connection with the Target Share Transfer and alteration of the Company. Where the documents need to be signed by Party B, Party B shall guarantee to extend its cooperation and
such cooperation shall not be unreasonably withheld; 

  

	 	(7)	The presentation of item (C) of the “WHEREAS” section is true and accurate. 

  

	 	(8)	Upon completion of the Target Share Transfer, Party B will assume all the rights and obligations Party A used to have under the current articles of association of the
Company. 

  

	 	(9)	Party B has made full disclosure to Party A, all such materials it has regarding Party B, which would substantively and adversely affect Party B’s capacity to
fully perform its obligation under the Contract, or, if disclosed to Party A, will substantively and adversely affect Party A’s willingness to enter into the Contract, and all materials that Party B provided to Party A are free from any
substantively untrue or misleading presentations. 

  

	 	(10)	Where, at anytime before the Closing Date of the Target Share Transfer (inclusive), Party B realizes any situation which will make the presentations, undertakings and
warranties it made under the Contract become untrue or inaccurate, Party B shall inform Party A in a timely fashion and take remedial measures or public the same as reasonably required by Party A. 

  

	 	(11)	Upon execution and coming into force, the Contract will be legally and effectively binding on Parry B, the articles thereof will be enforceable, and Party B undertakes
it is not entitled to any right of exemption 

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	 	(12)	All presentations, undertakings and warranties Party B made above are true, accurate, complete, sufficient, unconditional and without reservation.

 Article 6 Remedies 
  

	6.1	Party A shall be liable for its undertakings, warranties which Party A made before the Closing Date, and be liable for any liabilities or losses arising therefrom, if
such undertakings, warranties are untrue, inaccurate, incomplete and insufficient. 

  

	6.2	Party A shall indemnify Party B any losses caused by any litigations, arbitrations, claims, administrative proceedings and other legal proceedings against Party B,
which incurred before the Closing Date of Target Share Transfer, relating to or arising out of the Target Share Transfer. 

  

	6.3	Party B shall pay Party A the Transfer Price in accordance with Articles 4.1 and 4.2 of the Contract. Should the Transfer Price not be paid to CBEX by Party B within
the period set forth in the Contract and the Escrow Agreement, Party B shall compensate Party A for the delay in payment calculated at a rate of 0.01% of the Transfer Price outstanding per day. 

  

	6.4	Both parties shall perform their obligations under the Contract in good faith. Unless otherwise stipulated in this Contract, where one party fails to perform its
obligations or violates any of the articles, conditions, undertakings, announcements and warranties of the Contract, the other party shall have the right to claim remedies from the non-performing or breaching party for all losses, damages caused
thereby, as well as fees, expenditures incurred in the litigation and claim. 

  

	6.5	Where the conditions set forth in Article 3 of the Contract could not be fulfilled within six (6) months from the execution date of the Contract and such failure
cannot be attributed to either of the Parties, the Parties may terminate the Contract by negotiation and neither Party will be liable for it. 

 Article 7 Termination 
  

	7.1	The Contract shall be terminated at the occurrence of any of the following events: 

  

	 	(1)	After friendly consultation, both Party A and Party B unanimously agree in writing to terminate the Contract. 

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	 	(2)	The conditions precedent regarding Target Share Transfer as set forth in Article 3 of the Contract have not been met within six (6) months after execution of the
Contract and both parties fail to unanimously agree in writing, as permitted by law, on exemption of such conditions. 

  

	 	(3)	Where one party materially violates any article of the Contract, or where any of the presentations, undertakings or warranties it made in the Contract proves to be
false, the abiding party may deliver a written notice requiring the breaching party to immediately take remedial measures; Where the breaching party fails to take measures to remedy and rectify its violation in a way to the satisfaction of the
abiding party within sixty (60) days after the delivery of the afore-mentioned written notice, the abiding party shall have the right to terminate the Contract immediately. 

  

	 	(4)	Newly promulgated laws and regulations make it impossible to continue to perform the Contract. 

  

	 	(5)	Force Majeure events as specified in Article 8 of the Contract sustain more than six (6) months and make it impossible to continue to perform the Contract.

  

	7.2	Where Party B violates Article 4.1 and 4.2 of the Contract and delays payment of the Transfer Price of the Target Share Transfer in excess of 20 days, unless otherwise
provided in the Escrow Agreement, Party B shall, in addition to make payment of the penalties specified in Article 6.3, give Party A the right to unilaterally terminate the Contract. 

  

	7.3	Where the Contract is terminated, either party shall return to the other party all relevant records, documents and materials the other party delivered pursuant to the
Contract, regardless whether the afore-mentioned records, documents and materials were delivered before or after the execution of the Contract. 

  

	7.4	Where the Contract is terminated, the relationship between Party A and Party B, and relationship with the Company or other relevant parties shall resume to what it was
before the execution of the Contract. Party A holds 70% of shares of the Company and Party A returns to Party B all Transfer Price paid in accordance with Article 4.1 of the Contract. 

 Where necessary, Parties shall, in accordance with relevant laws, be responsible for completion of the approval formalities required for
termination of the Contract and cooperate with each other in signing all agreements and documents required for resuming the relation between Party A and Party B, and relationship with the Company or other relevant parties to what it was

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before the execution of the Contract. The cost incurred for preparation, performance and termination of the Target Share Transfer under the Contract, including without limitation taxes,
governmental fees and fees for retaining agencies shall be born by the breaching party if any and, in the absence of breaching party, the cost shall be born by the two parties respectively. 
  

	7.5	The liabilities for damages for breach of contract as stipulated in the Contract shall not be released because of the termination of the Contract.

 Article 8 Force Majeure Event 
  

	8.1	“Force majeure event” shall refer to an event whose occurrence is unforeseeable at the time the Contract is executed by the two parties, and whose occurrence
is unavoidable or whose consequence is unable to be overcome, and thus makes one party unable to perform any of the articles of the Contract in whole or in part, which includes earthquake, tsunamis, typhoon, flood, war and infectious disease and
other afore-mentioned unpredictable, unavoidable and insuperable events, as well as the force majeure events recognized by general international commercial customs. 

  

	8.2	Upon occurrence of a force majeure event, the affected party can suspend the performance of its duties or obligations under the Contract during the event without being
treated as a breach of the Contract. However, the affected party shall take all measures to notify the other party in writing immediately, and, within 15 days after occurrence of the force majeure event, produce documents evidencing occurrence
and/or existence of the force majeure event as required by PRC law, failure to do which, no force majeure event shall be recognized. 

  

	8.3	Upon occurrence of force majeure event, the affected party shall make best effort and take all measures to mitigate the losses. 

  

	8.4	Upon occurrence of force majeure event, both parties to the Contract shall consult each other immediately for a fair resolution, and shall make all reasonable endeavors
to mitigate the adverse effect caused by such force majeure event. 

  

	8.5	Where one party breaches the Contract and delays the performance of its obligation hereunder, and a force majeure event occurs thereafter, that party shall not be
exempted from liabilities because of the occurrence of the force majeure event. 

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 Article 9 Confidentiality 
  

	9.1	Any party may have disclosed or need to disclose to the other party confidential and exclusive materials regarding its business, financial status and other confidential
matters. Unless otherwise stipulated by other confidentiality agreement, the party who receives the afore-mentioned materials (including writing and none-writing materials, hereinafter referred to as “Confidential Materials”) shall:

  

	 	(1)	keep all the Confidential Materials confidential; and 

  

	 	(2)	except for the accepting party’s staff the discharge of whose responsibilities requires knowledge of the Confidential Materials, do not disclose the
afore-mentioned Confidential Materials to any other person or entity. 

  

	9.2	Clause 9.1 of the Contract shall not apply to: 

  

	 	(1)	materials known to the accepting party, proved by records in writing made before the disclosing party makes the disclosure to the accepting party;

  

	 	(2)	materials becoming accessible in public domain not attributable to accepting party’s breach of this Contract; 

  

	 	(3)	materials which the accepting party obtained from a third party who bears no confidential responsibilities; or 

  

	 	(4)	materials contained in the documents published in the course of completion of the Target Share Transfer formalities. 

  

	9.3	Each party shall ensure that the directors, senior officials of itself and the affiliated companies relating to the Target Share Transfer, as well as other employees
involved in the Target Share Transfer shall abide by the confidentiality obligation under Article 9 of the Contract. 

  

	9.4	Article 9 of the Contract shall not apply to the disclosure of Confidential Materials to affiliated companies, intermediaries, employees and counsels of each party for
the purpose of the Target Share Transfer; however, under such circumstance, the materials shall only be disclosed to those persons or entities which have to know the materials for discharging their responsibilities. 

  

	9.5	Article 9 of the Contract shall not apply to disclosure of the materials to any governmental authorities or relevant entities by any of the parties to the Contract
pursuant to laws or regulations. However, the party required to make the disclosure shall, before such disclosure is made, immediately notify the other party of such requirements and terms. 

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	9.6	Any of the regulation under Article 9 of the Contract shall not impede the announcement or disclosure, which one party makes in good faith and pursuant to governing
laws or regulations. 

 Article 10 Miscellaneous 
 10.1 Effective Date 
 After
execution by the legal representatives or authorized representatives of Party A and Party B, the Contract shall become effective on the date it is approved by the Examination and Approval Authorities. 
 10.2 Costs and Expenses 
 Unless
otherwise agreed upon in the Contract, taxes and charges collected according to law in connection with execution and performance of the Contract shall be respectively born by Party A and Party B in accordance with PRC laws and regulation. Where the
laws and regulations do not explicitly specify the payer, Party A and Party B shall pay 50% of the fees respectively. Neither Party A nor Party B shall have the obligation to pay the fees on behalf of the other party. 
 10.3 Governing Laws 
 The
governing law of this Contract shall be PRC laws, and the execution, validity, interpretation, performance and dispute resolution of this Contract shall be subject to PRC laws. However, where PRC laws do not regulate on any of the issues specified
in the Contract, the same shall be governed by reference to international commercial customs. 
 10.4 Dispute Resolution 
 The parties shall make endeavor to settle their disputes arising out of the performance of the Contract or in connection with of the
Contract, through friendly consultation; Where the parties fail to settle their disputes through consultation, either party shall have the right to submit the dispute or claim arising from the Contract to the People’s Court which has
jurisdiction over the dispute or claim and resolve them by litigation. During the litigation, except for the matters under dispute, the Contract shall continue to be performed. 

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 10.5 Language and Copy 
 The Contract shall be executed in Chinese and English languages and both in eight (8) copies, each party shall keep one copy of both versions, the Company shall keep one copy for filing, and
remaining copies shall be submitted to the relevant Examination and Approval Authorities, all of which shall have equal legal force. In the event of a discrepancy between the two language versions, the Chinese version shall prevail. 
 10.6 Severability 
 Where any
article of the Contract is regarded as being invalid by any authority with jurisdiction, the validity of other articles of the Contract shall remain unaffected. 
 10.7 Amendments and Supplements 
 For issues not covered in the Contract, the
parties shall enter into written contract to make amendment or supplement to the Contract. Amendments or supplements to the Contract signed and chopped by both parties shall be integral parts of the Contract, and once approved by the Examination and
Approval Authority, shall have equal force with the Contract. 
 10.8 Exercise of Rights 
 Failure to or delay in exercising any of the rights hereunder by any party to the Contract shall not be regarded as waiving the same. The
exercise of a right by itself or in part does not preclude the exercise of the same otherwise. Waiver of the right to pursue any breach of contract shall be effective only if it is made in writing and signed and affixed with official seal by the
legal representative or authorized representative. 
 10.9 Assignment of Rights and Obligations 
 Unless otherwise agreed upon in the Contract, neither party shall be allowed to assign the Contract or its rights and obligations hereunder
in whole or in part without prior written consent of the other Party and/or approval from the Examination and Approval Authority as required by PRC laws. 
 10.10 Employee Settlement 
 Both Parties hereby agree that no such issue as
employee settlement is involved in the Target Share Transfer. 

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 10.11 Notices and Delivery 
 Unless otherwise agreed upon in the Contract, any party’s notice or written communication to the other party shall be written in
Chinese, and shall be delivered by hand-delivery, fax or courier. Unless otherwise informed of the change of address, all notice and written communication shall be delivered to the following addresses: 
 Party A: Beijing Peking University Education Investment Co., Ltd 
 Address: 4th Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 Telephone: 0086-010-62765626 
 Fax: 0086-010-62765626 
 Attention: Xu Zhixiang 
 Party B: Prosperity Holdings Limited 
  

			
	Address:	 	Crescent Point Group
		 	One George Street, #15-04
		 	Singapore 049145

 Telephone: 0065-6511-3088 
 Fax: 0065-6223-5992 
 Attention: James Wong 
 The notice or written communication shall be deemed being received on the following dates:

  

	 	(1)	in case of fax and hand-delivery, the date of receipt shall be the date of delivery; 

  

	 	(2)	in case of Express mail service, the date of delivery shall be the third day after the notice has been handed over to the express company; or 

 

	 	(3)	in case of courier, the date on the receipt confirmation, or the date of handover. 

 Execution Copy 
  
  

 IN WITNESS WHEREOF, Party A and Party B have caused their authorized representatives to
sign the Contract on the date first written above. 

			
	
	Party A: Beijing Peking University Education Investment Co., Ltd.
		
	Legal Representative or Authorized Representative:	 	

	
	Party B: Prosperity Holdings Limited

			
		
	Authorized Representative:	 	

 Execution Copy 
  
  

 Appendix - Letter of Disclosure 

 Letter of Disclosure 
 This Letter of Disclosure is prepared for the transfer of shares of Beijing Jade Bird Educational Information Technology Co., Ltd. (the “Company”) to Prosperity Holdings Limited, and shall be
used as an appendix to the Share Transfer Contract entered into by and between Prosperity Holdings Limited and Beijing Peking University Education Investment Co., Ltd. The sequence numbers and contents of this Letter of Disclosure shall correspond
to those specified in the Share Transfer Contract. 
 To facilitate comprehension, the disclosures made hereinafter are summaries of the
corresponding documents, which shall not be regarded as a complete and accurate description of the same. The contents of the original documents shall prevail. 
 5.1(3) 
 Certificates and licenses held by the Company are as follows: 
  

	(1)	Enterprise Legal Person Business License (No. 1100001649252) issued by the Beijing Administration for Industry and Commerce on Jul. 18, 2006; 

 

	(2)	Certificate of Tax Registration (No. Jing Guo Shui Hai Zi 110108759640097) issued by State Tax Bureau of Haidian District of Beijing on Apr. 9, 2004;

  

	(3)	Certificate of Tax Registration (No. Di Shui Jing Zi 110108759640097000) issued by Local Tax Bureau of Haidian District of Beijing on Apr. 2, 2004;

  

	(4)	Certificate of Organizational Entity Code (Code No. 75964009-7) with a period of validity commencing from Mar. 5, 2004 and ending on Mar. 2, 2008;

  

	(5)	Permit for Running No-government Schools (No. Lao She Min 1106054072000) issued by Labor and Social Security Bureau of Haidian District of Beijing in July of
2005, where the name of the unit is Beijing Municipality Haidian District Jade Bird Information and Technology Vocational Skills Training School; the period of validity of this Certificate is four years commencing from the issuance date;

  

	(6)	Certificate of High and New Technology Enterprise (No. Jing Ke Gao Zi 0611008A17059) issued by Beijing Science and Technology Committee on May 28, 2006;

  

	(7)	Registration Certificate of Social Insurance (No. She Xian Jing Zi 110108627888) issued by the Social Insurance Fund Administration Center of Haidian District of
Beijing on Mar. 17, 2005; 

	(8)	Tianjin Brach of the Company holds: 

  

	 	a.	Business License (No. 1201041010135) issued by Tianjing Administration for Industry and Commerce on Mar. 23, 2005; 

  

	 	b.	Certificate of Organizational Entity Code (Code No. 77064779-1) issued by Tianjin Administration Bureau for Quality Supervision and Inspection and Quarantine with
a period of validity from May 12, 2005 to Apr. 11, 2009; 

  

	 	c.	Certificate of Tax Registration (No. Guo Shui Jin Zi 120104770647791) issued by State Tax Bureau of Tianjing Development District on Apr. 22, 2005;

  

	 	d.	Certificate of Tax Registration (No. Di Shui Jin Zi 120104770647791) issued by Local Tax Bureau of Tianjing Development District on Apr. 30, 2005;

  

	 	e.	Permit for Running Non-government Schools in People’s Republic of China (No. Lao She Min 1201044000310) issued by Tianjin Labor and Social Security Bureau,
where name of the unit is Tianjin Beida Jade Bird Vocational Training School, the validity period of which is three years; 

  

	 	f.	Private non-Enterprise Institution Registration Form (Legal Person Status) (No. Min Zheng Zi Di 060610) issued by Tianjin Administration for Social Organizations
on Jul. 7,2005, where name of the unit is Tianjin Beida Jade Bird Vocational Training School. 

  

	(9)	Chongqing Branch of the Company holds: 

  

	 	a.	Business License (No. Yu Gao 5009011901215) issued by Chongqing Administration for Industry and Commerce on Mar. 16, 2005; 

  

	 	b.	Certificate of Tax Registration (No. Guo Shui Yu Zi 50090377177299) issued by Chongqing High and New Technology Industry Development District State tax Bureau on
Apr. 11, 2005; 

  

	 	c.	Certificate of Tax Registration (No. Di Shui Zi 50090377177299) issued by Chongqing High and New Technology Industry Development District Local Tax Bureau on
Apr. 5, 2005; 

  

	 	d.	Certificate of Organizational Entity Code (Code No. 77177729 — 9) issued by Chongqing Quality and Technical Supervision Bureau with a validity period from
Apr. 7, 2005 to Apr. 7, 2009; 

  

	 	e.	Permit for Running Non-government Schools (No. Lao She Min 5000003000130) issued by Chongqing Labor and Social Security Bureau on Jul. 25, 2005.

  

	(10)	Guangzhou Branch of the Company holds: 

  

	 	a.	Business License (No. Fen 4401062029325) issued by Guangzhou Administration for Industry and Commerce on Sep. 28, 2005; 

	 	b.	Certificate of Organizational Entity Code (Code No. 78122360-1) issued by Guangzhou Quality and Technical Supervision Bureau with a validity period from Nov. 15,
2005 to Nov. 15, 2009; 

  

	 	c.	Certificate of Tax Registration (No. Guo Shui Yue Zi 440100781223601) issued by Gaongzhou State Tax Bureau on Mar. 1, 2006; 

  

	 	d.	Certificate of Tax Registration (No. Di Shui Yue Zi 440100781223601) issued by Gaongzhou Local Tax Bureau on Mar. 1, 2006; 

 Permit for Running Non-government Schools of Guangdong Branch is still in the process of application. 
  

	(11)	Xicheng Branch of the Company holds: 

  

	 	a.	Business License (No. 1101021828847) issued by Beijing Administration for Industry and Commerce on Apr. 22, 2005; 

  

	 	b.	Certificate of Tax Registration (No. Di Shui Jing Zi 110102774724301000) issued by Beijing Xicheng District Local Tax Bureau on May 20, 2005;

  

	 	c.	Certificate of Organizational Entity Code (Code No. 77472430-1) issued by Beijing Xicheng District Quality and Technical Supervision Bureau, which expires on
May 12, 2009; 

 Certificate of State Tax Registration and Permit for Running Non-government Schools of
Xicheng Branch are still in the process of application. 
  

	(12)	Shanghai Branch of the Company Holds: 

  

	 	a.	Business License (No. 31010810198119000) issued by Shanghai Administration for Industry and Commerce, Zhabei Branch on Apr. 10, 2006; 

  

	 	b.	Certificate of Organizational Entity Code (Code No. 77710623-4) issued by Shanghai Quality and Technical Supervision Bureau, which expires on Jun. 27, 2009;

  

	 	c.	Certificate of Tax Registration (No. Guo Shui Hu Zi 310108777106234) issued by Shanghai State Tax Bureau on Jul. 10, 2005; 

  

	 	d.	Certificate of Tax Registration (No. Di Shui Hu Zi 310108777106234) issued by Shanghai Local Tax Bureau on Jul. 12, 2005; 

 Permit for Running Non-government Schools of Shanghai Branch is still in the process of application. 
  

	(13)	Hangzhou Branch of the Company holds: 

  

	 	a.	Business License (No. 3301001007242) issued by Hangzhou Administration for Industry and Commerce on Aug. 17, 2005; 

	 	b.	Certificate of Tax Registration (No. Zhe Shui Zi Hang 330100779254281) jointly issued by Hangzhou State Tax Bureau and Local Tax Bureau on Sep. 1, 2005;

  

	 	c.	Certificate of Organizational Entity Code (Code No. 77925428-1) issued by Hangzhou Quality and Technical Supervision Bureau, which expires on Aug. 25, 2009;

 Permit for Running Non-government Schools of Hangzhou Branch is still in the process of application.

 Certificates and licenses held by subsidiaries of the Company are as follows: 
  

	(14)	APTECH Beida Jade Bird Co., Ltd holds: 

  

	 	a.	Enterprise Legal Person Business License (No. Qi He Jing Zong Zi Di 014196) issued by Beijing Administration for Industry and Commerce on Sep. 21, 2005;

  

	 	b.	Certificate of Approval for Establishment of Enterprises with Foreign Investment in the PRC (No. Shang Wai Zi Jing Zi [1999]0390) issued by Beijing Municipal
People’s Government on Sep. 20, 2005; 

  

	 	c.	Certificate of Organizational Entity Code (Code No. 71774043-6) issued by Beijing Quality and Technical Supervision Bureau; 

  

	 	d.	Certificate of Foreign Exchange Registration (No. 1999000000349) issued by SAFE, Bejing Administration Department; 

  

	 	e.	Registration Certificate of Social Insurance (No. She Xian Jing Zi 110108627888) issued by the Social Insurance Fund Administration Center of Haidian District of
Beijing on Mar. 17, 2005; 

  

	 	f.	Certificate of High and New Technology Enterprise (No. Jing Ke Gao Zi 0611008A16793) issued by Beijing Science and Technology Committee on Jun. 8, 2006;

  

	(15)	Yantai Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3706022810169) issued by Yantai Administration for Industry and Commerce, Zhifu Branch on Feb. 27, 2006;

  

	 	b.	Certificate of Tax Registration (No. Lu Di Shui Zi 370602785029750) issued by Yantai Zhifu District Local Tax Bureau on Feb. 22, 2006; 

 

	 	c.	Certificate of Tax Registration (No. Guo Shui Lu Zi 370602785029750) issued by Yantai Zhifu District State Tax Bureau on Mar. 6, 2006; 

 

	 	d.	Certificate of Organizational Entity Code (Code No. 78502975-0) issued by Yantian Quality and Technical Supervision Bureau; 

 Permit for Running Non-government Schools of Yantai Jade Bird Educational Information Technology Co., Ltd is still in the process of application.

	(16)	Dalian Xinghai Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. Da Gong Shang Qi Fa Zi 2102001107858) issued by Dalian Administration for Industry and Commerce on Mar. 15, 2006;

  

	 	b.	Certificate of Tax Registration (Da Guo, Di Shui Sha Zi 210204759945325) jointly issued by Dalian Municipal State Tax Bureau and Local Tax Bureau of Liangning
Province; 

  

	 	c.	Certificate of Organizational Entity Code (Code No. 75994532-5) issued by Dalian Municipal Quality and Technical Supervision Bureau; 

  

	 	d.	Permit for Running Non-government School (No. Lao She Min 2102013000296) issued by Dalian Municipal Labor and Social Security Bureau, where name of the unit is
Dalian Xinghai Beida Jade Bird Vocational Training School, the validity period of which is three years; 

  

	(17)	Zhenjiang Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3211001103466) issued by Zhenjiang Administration for Industry and Commerce of Jiangsu Province on Mar. 9, 2006;

  

	 	b.	Certificate of Tax Registration (No. Su Guo Shui Zhen Zi 321100784958494) issued by Zhenjiang Municipal State Tax Bureau of Jiangsu Province on Mar. 9, 2006;

  

	 	c.	Certificate of Tax Registration (No. Su Di Shui Deng Zi 321100784958494) issued by Zhenjiang Municipal Local Tax Bureau of Jiangsu Province on Mar. 9, 2006;

  

	 	d.	Certificate of Organizational Entity Code (Code No. 78495849-4) issued by Zhenjiang Quality and Technical Supervision Bureau of Jiangsu Province;

  

	 	e.	Permit for Running Non-government Schools (No. Lao She Min 211004000011) issued by Zhenjiang Municipal Labor and Social Security Bureau on September 7,
2006, where name of the unit is Zhenjiang Beida Jade Bird APTECH Vocational Training School, the validity period of which is five years. 

  

	(18)	Chengdu Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 5101041902301) issued by Chengdu Municipal Jinjiang Administration for Industry and Commerce on Mar. 12, 2006;

  

	 	b.	Certificate of Tax Registration (No. Chuan Guo Shui Zi 510104785429543) issued by State Tax Bureau of Jinjiang District, Chengdu of Sichuan Province on
March 24, 2006; 

	 	c.	Certificate of Tax Registration (No. Chuan Rong 51010478542954-3) issued by the first branch of Local Tax Bureau of Chengdu of Sichuan Province on March 24,
2006; 

  

	 	d.	Certificate of Organizational Entity Code (Code No. 78542954-3) issued by Chengdu Municipal Quality and Technical Supervision Bureau, Zhenjiang Branch;

  

	 	e.	Permit for Running Non-government Schools (No. Lao She Min 2255A05540147) issued by Chengdu Municipal Labor and Social Security Bureau on July 13, 2006,
where name of the unit is Chengdu Jade Bird Information and Technology School, the validity period of which is two years. 

  

	(19)	Shenzhen Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 4403011223302) issued by Shengzhen Municipal Administration for Industry and Commerce on Apr. 25, 2006;

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78832483-5) issued by Shenzhen Municipal Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. Guo Shui Shen Zi 440301788324835) issued by Shenzhen Municipal State Tax Bureau; 

  

	 	d.	Certificate of Tax Registration (No. Shen Di Shui Deng Zi 440301788324835) issued by Shenzhen Municipal Local Tax Bureau; 

 Permit for Running Non-government School of Shenzhen Jade Bird Educational Information Technology Co., Ltd. is still in the process of application.

  

	(20)	Nantong Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3206001108585) issued by Nantong Administration for Industry and Commerce of Jiangsu Province on Feb. 21, 2006;

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78438804-9) issued by Jiangsu Provincial Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. Su Di Shui Deng Zi 320601784388049) jointly issued by Nantong Municipal State Tax Bureau, the First Branch and Nantong
Municipal Local Tax Registration, the Second Branch on Feb. 21, 2006; 

  

	 	d.	Permit for Running Non-government Schools (No. Jiao Min 3206027ZX0020) issued by the Education and Sports Bureau of Chongzhou District, Nantong Municipal on
September 16, 2006, where name of the unit is Naotong Chongzhou Beida Jade Bird Computer Training Center, the validity period of which is one year. 

	(21)	Hefei Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3401001007212) with an issuance date of Feb. 27, 2006; 

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78493005-3) issued by Heifei Municipal Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. He Guo Yaohai Guo Shui Zi 340102784930053) issued by Yaohai District State Tax Bureau, Hefei of Anhui Province on Mar. 7,
2006; 

  

	 	d.	Certificate of Tax Registration (No. Di Shui He Zi 340102784930053) issued by Yaohai District Local Tax Bureau, Hefei of Anhui Province on Mar. 7, 2006;

  

	 	e.	Permit for Running Non-government School (No. Lao She Min 3401003100655) issued by Hefei Municipal Labor and Security Bureau on Apr. 17, 2006, where name of the unit is
Hefei Jade Bird Vocational Training School, the validity period of which is three. 

  

	(22)	Shenyang Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 2101031150104) issued by Shenyang Municipal Administration for Industry and Commerce on Feb. 14, 2006;

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78455670-0) issued by Shenyang Municipal Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. Shen Di Shui Zi Shen He Branch 210103784556700) issued by Shenyang Municipal Local Tax Bureau on Mar. 2, 2006;

  

	 	d.	Certificate of Tax Registration (No. Shen He Guo Shui Zi 210103784556700) issued by Shenyang Municipal State Tax Bureau on Mar. 2, 2006;

  

	 	e.	Permit for Running Non-government School (No. Lao She Min 2101017220315) issued by Shenyang Municipal Education Bureau on Jun. 2, 2006, where name of the unit is
Shenyang BENET Computer Training Center, which expires on Jun. 1, 2008. 

  

	(23)	Qingdao Jade Bird IT Information Co., Ltd. Holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3702022919318) issued by Qingdao Municipal Administration for Industry and Commerce, Shinan Branch on May 31, 2006;

	 	b.	Certificate of Organizational Entity Code (Code No. 78759823-6) issued by Qingdao Municipal Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. 370202787598236) jointly issued by Shandong Qingdao Municipal State Tax Bureau and Local Tax Bureau on Jul. 7, 2006;

  

	 	d.	Permit for Running Non-government School (No. Lao She Min 10201510) issued by Qingdao Municipal Labor and Security Bureau on September 6, 2006, where name
of the unit is Qingdao Beida Jade Bird Vocational Training School. 

  

	(24)	Xiamen Jade Bird IT Information Co., Ltd. Holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3502031101135) issued by Xiamen Municipal Administration for Industry and Commerce on Jun. 5, 2006;

  

	 	b.	Certificate of Tax Registration (No. Xia Guo Shui Si Zi 350203784187335) issued by Xiamen Municipal State Tax Bureau on Jun. 20, 2006; 

 

	 	c.	Certificate of Tax Registration (No. Xia Di Shui Zheng Zi 350203784187335) issued by Xiamen Municipal State Tax Bureau on Jun. 16, 2006;

  

	 	d.	Certificate of Organizational Entity Code (Code No. 78418733-5) issued by Xiamen Municipal Quality and Technical Supervision Bureau; 

  

	 	e.	Permit for Running Non-government School (No. Lao She Min 3502036206005) issued by Xiamen Municipal Labor and Security Bureau on September 12, 2006, where
name of the unit is Xiamen Zhongshan Beida Jade Bird Vocational Training School, the validity period of which is three years. 

  

	(25)	Kunming Gold Bird Educational Information Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 5301002521909) issued by Yunnan Kunming Municipal Administration for Industry and Commerce on May 15, 2005;

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78737422-4) issued by Yunnan Kunming Municipal Quality and Technical Supervision Bureau;

  

	 	c.	Certificate of Tax Registration (No. Dian Di Shui Kun Zi 530102787374224) issued by Kunming Wuhua District Local Tax Bureau on may 24, 2006;

  

	 	d.	Certificate of Tax Registration (No. Dian Guo Shui Zi 530102787374224) issued by Kunming Wuhua District State Tax Bureau on may 25, 2006;

 Permit for Running Non-government School of Kunming Gold Bird Educational Information Co., Ltd. is still in
the process of application. 
  

	(26)	Yangzhou Beida Jade Bird Information and Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3210911400385) issued by Jiangsu Yangzhou Municipal Administration for Industry and Commerce on Jun. 7, 2006;

  

	 	b.	Certificate of Tax Registration (No. Zu Di Shui Deng Zi 321001787679896) issued by Yangzhou Municipal Local Tax Bureau on Jun. 14, 2006;

  

	 	c.	Certificate of Organizational Entity Code (Code No. 8767989-6) issued by Jiangsu Yangzhou Municipal Quality and Technical Supervision Bureau;

 Certificate of State Tax Registration and Permit for Running Non-governments School are still in the process of application.

  

	(27)	Fuzhou Jade Bird Information and Technology Co., Ltd. holds: 

  

	 	a)	Enterprise Legal Person Business License (No. 3501002028311) issued by Fuzhou Municipal Administration for Industry and Commerce on July 28, 2006;

  

	 	b)	Certificate of Tax Registration (No. Rong Shui Zi 350100791763695) jointly issued by the State Tax Bureau and Local Tax Bureau of Gulou District, Fuzhou
Municipal on April 15, 2006; 

  

	 	c)	Certificate of Organization Entity Code (Code No. 79176369-5) issued by Fuzhou Municipal Quality and Technical Supervision Bureau; 

  

	 	d)	Permit for Running Non-government School (No. Lao She Min 3501016206004) issued by Fuzhou Municipal Education Bureau on September 15, 2006, where name of
the unit is Fuzhou Beida Jade Bird Vocational Training School, which expires on September 15, 2009. 

  

	(28)	Hangzhou Jade Bird Educational Information and Technology Co., Ltd. holds: 

  

	 	a)	Enterprise Legal Person Business License (No. 3301001007845) issued by Hangzhou Municipal Administration for Industry and Commerce on April 11, 2006;

  

	 	b)	Certificate of Tax Registration (No. Zhe Shui Lian Zi 330100790940397) jointly issued by the State Tax Bureau and Local Tax Bureau of Zhejiang Province on
October 10, 2006; 

	 	c)	Certificate of Organization Entity Code (Code No. 79094039-7) issued by Hangzhou Municipal Quality and Technical Supervision Bureau. 

 Permit for Running Non-government School of Hangzhou Jade Bird Educational Information and Technology Co., Ltd. is still in the process of application.

  

	(29)	Shanghai Qingda Computer Technology Co., Ltd. holds: 

  

	 	a)	Enterprise Legal Person Business License (No. 3101151020246) issued by the Pudong Branch of Shanghai Municipal Administration for Industry and Commerce on July 13,
2006; 

  

	 	b)	Certificate of Tax Registration (No. Di Shui Hu Zi 310115791428600) issued by the Shanghai Municipal Local Tax Bureau on April 7, 2006;

  

	 	c)	Certificate of Organization Entity Code (Code No. 79142860-0) issued by Shanghai Municipal Quality and Technical Supervision Bureau. 

 Permit for Running Non-government School of Shanghai Qingda Computer Technology Co., Ltd. is still in the process of application. 
 5.1(4) 
  

	(1)	In connection with Capital Contribution Agreement and Articles of Association of the Company, Beijing Beida Jade Bird Co., Ltd (the “BDH”) and Yang Ming
entered into the Supplementary Agreement on Dec. 1, 2003; 

  

	(2)	Beijing Peking University Education Investment Co., Ltd (the “PUEI”), BDH and Yang Ming entered into the Special Agreement in 2006. 

5.1(6) 
 Please refer to issues
disclosed in 5.1 (7). 
 5.1 (7) 
 Shareholders Meeting of PUEI has adopted the Resolution of the Shareholders Meeting on October 20, 2006. 
 5.1(10)

 Unaudited Balance Sheet of the Company up to the date of Jun. 30, 2006. 

 5.1(11) 
 Arbitration and litigation situation of the Company: 
  

	(1)	Two arbitration case between Beijing APTECH Jade Bird Co., Ltd (“Beijing APTECH”) and Beijing Huayu Net Technology Development Co., Ltd. (“Huayu
Net”) 

 On Sep. 21, 2005, Beijing Arbitration Committee rendered arbitral awards of No. (2005) Jing Zhong
Cai Zi Di 0693 and No. 0694, which Huayu Net refused to execute. In Nov. of 2005, Beijing APTECH applied to the People’s Court of Beijing Daxing District, where Huayu Net was located, for the enforcement of the arbitral awards.
Execution Division of the Daxing Court froze Huayu Net’s account, where there is cash of about RMB 140,000 in it, at Ever Bright Bank on Mar. 30, 2006. Huayu Net has handed over education discs and other articles to the Court, and the cash
mentioned above has been transferred to the Court’s bank account. In addition, Huayu Net warranted that it would pay part of the money under the enforcement before Jul. 12, 2006. As of the date of this Disclosure, Huayu Net has paid RMB 239,297
Yuan for enforcement. 
  

	(2)	One arbitration case between Beijing APTECH and Beijing Huayu Tiandi International Education Co., Ltd. 

 On Jun. 1, 2006, Beijing Arbitration Committee made a decision of No. (2006) Jing Zhong Che Zi Di 0163. 
  

	(3)	Three arbitration cases between Beijing APTECH and Huayu Net 

 On Jul. 1, 2006, Beijing Arbitration Committee rendered arbitral awards of No. (2006) Jing Zhong Cai Zi Di 0615, 0538, 0537. 
  

	(4)	Lawsuit between Beijing APTECH and Qingdao Huayu Tiandi Information Technology Co., Ltd., Qingdao Huyu Information Management Training School (under preparation), Huayu
Net 

 Qingdao Municipal Intermediate People’s Court of Shandong Province made a judgment numbered
(2005) Qing Min San Chu Zi Di 503 on Oct. 24, 2005. 
 Beijing APTECH has appealed the judgment to Higher
People’s Court, and no judgment of the Court in respect thereof has been made. 

 Administrative penalties that the Company are involved in: 
  

									
	Company	 	Causes	 	Year	 	 Amount of the Penalty
 (unit: thousand)
	 	Notes
	 Beijing APTECH
	 	Taxes	 	2005	 	5.48648	 	None
	 Dalian Xinghai Jade
 Bird Educational
 Information
 Technology Co., Ltd.
	 	Advertisement	 	2006	 	40	 	None
	 Yantai Jade Bird Educational
 Information

 Technology Co.,
 Ltd.
	 	 Penalty made by

the company
 registry
	 	2006	 	5	 	None
	 The Company
	 	Fire Inspection	 	2004	 	1	 	None
	 Xicheng Branch of
 the Company

	 	 Administrative
 penalty
	 	2006	 	3	 	 Caused by the misfeasance of an
 employee, who is
 solely liable for such
 penalty.

  

	5.1	(12) 

  

	(1)	Preferential Income Taxes: on Jul. 24, 2007, Haidian District Sate Tax Bureau of Beijing issued the Approval for Application of Beijing APTECH Jade Bird Co., Ltd. for
Enjoying Income Tax Reduction and Exemption as a High and New Technology Enterprise (No. Hai Huo Shui Jian Mian Wai [2002] 4090); 

  

	(2)	Tax disposition order or tax administrative penalty decision: on Sep. 16, 2005, Tax Inspection Division of Handian District Local Tax Bureau of Beijing issued a Tax
Disposition Order (No. Hai Di Shui Chu Li [2005] 230); on Sep. 16, 2005, Tax Inspection Division of Handian District Local Tax Bureau of Beijing issued a Tax Administrative Penalty Decision (No. Hai Di Shui Chu Fa [2005] 147).

  

	5.1	(14) 

  

	(1)	List of Franchise Contracts 

 ACCP 

 

					
	No.	  	Name of Companies	  	Term of Contracts
	1.	  	Changsha Niuer Information Technology Co., Ltd.	  	18/05/2001—17/05/2010
	2.	  	Changsha Wodun Software Education Centre	  	08/08/2004—08/07/2008
	3.	  	Changsha Feixun Information Technology Co., Ltd.	  	20/06/2006—19/06/2011
	4.	  	Zhuzhou Aote Science and Technology Electronic Products Co., Ltd	  	18/11/2002—17/11/2006

					
	5.	  	Ziangtan Jinfan Education Group	  	30/07/2003—29/07/2007
	6.	  	APTECH Beida Jade Bird Chenzhou Ketai Franchise Training Centre	  	31/12/2003—30/12/2007
	7.	  	Hengyang Nanfang Software Training School	  	16/09/2004—16/09/2008
	8.	  	Yueyang Haina Software Education Training School	  	12/07/2004—12/07/2008
	9.	  	Changde Zhicheng Software Training Centre	  	29/12/2005—28/11/2010
	10.	  	Shaoyang Yixing Technology School	  	24/06/2004—23/06/2011
	11.	  	Guangdong Guangli Technology Co., Ltd.	  	08/07/2001—07/07/2010
	12.	  	Guangzhou Keyuan Computer Information Technology Co., Ltd.	  	01/03/2005—28/02/2010
	13.	  	Shenzhen Xinshi Technoloy Development Co., Ltd.	  	09/07/2005—08/07/2010
	14.	  	Shenzhen Nanshan District Zhongqing Information Technology Vocational Training Centre	  	09/07/2005—08/07/2009
	     	  		  	 
	15.	  	Shenzhen Luohu Kunpeng Vocational Training Center	  	22/01/2006—21/01/2011
	16.	  	Shenzhen Jiahu Information and Technology Co., Ltd.	  	08/09/2006—07/09/2006
	17.	  	Zhuhai Qiancheng Vocational Training School	  	23/05/2001—22/05/2010
	18.	  	Shantou Xinghe Computer Information Technology Co., Ltd.	  	30/11/2002—30/11/2006
	19.	  	Guangdong TeleCom Industry Croup Huizhou Co., Ltd	  	20/07/2003—19/07/2007
	20.	  	Zhongshan Zhongnan SoftwareVocational Training School	  	18/06/2004—17/06/2008
	21.	  	Wuhan Ruijie Information Management Co., Ltd	  	20/08/2001—19/08/2010
	22.	  	Wuhan Renjie Information Training Centre	  	26/08/2001—25/08/2010
	23.	  	Wuhan Saide Information Technology Co., Ltd.	  	18/07/2004—18/07/2008
	24.	  	Wuhan Chuangmei Information Technology Development Co., Ltd.	  	20/02/2005—19/02/2009
	25.	  	Wuhan Hongpeng Information Technology Co., Ltd.	  	24/06/2006—23/06/2011
	26.	  	Yichang Sirui Computer Vocational Skill Training School	  	01/09/2003—31/08/2007
	     	  	 	  	 
	27.	  	Wuhan Huateng Information Technology Co., Ltd.	  	08/08/2005—31/08/2009

					
	28.	  	Jingzhou Beiruan Information Technology Co., Ltd.	  	18/04/2006—17/04/2011
	29.	  	Suizhou Shike Technology Training School	  	09/11/2006—19/08/2006
	30.	  	Chongqing Zuxia Science and Technology Co., Ltd.	  	20/08/2005—19/08/2009
	31.	  	Sichuan West Celebrity Chamber Co., Ltd.	  	31/12/2001—30/12/2010
	     	  	 	  	 
	     	  	 	  	 
	32.	  	Chengdu Jinchen Software Training Centre	  	01/08/2005—31/07/2009
	33.	  	Sichuan Shidai College	  	13/06/2006—12/06/2011
	     	  	 	  	 
	34.	  	Kunming Dingdian Information Technology Co., Ltd.	  	30/01/2003—29/01/2007
	35.	  	Nanning Zhuangyuanlang Vocational Training School	  	16/03/2005—15/03/2009
	36.	  	Liuzhou Longteng Vocational Training School	  	01/01/2006—31/12/2010
	37.	  	Guizhou Tianji Computer Vocational Skill Training School	  	26/08/2005—25/08/2009
	38.	  	Fuzhou Santuo Computer Co., Ltd	  	10/04/2003—31/12/2006
	39.	  	Fuzhou Lide Vocational Training School	  	31/01/2003—30/01/2007
	40.	  	Xiamen Bangchu Information Technology Co., Ltd.	  	24/08/2001—23/11/2010
	41.	  	Shanghai Amateurism Science and Technology College	  	09/01/2002—08/01/2011
	42.	  	Shanghai Qinghui Education Software Science and Technology Co., Ltd.	  	26/07/2004—25/07/2008
	43.	  	Shanghai Fuxin Information Technology Co., Ltd.	  	05/07/2006—04/07/2011
	44.	  	Shanghai Yueno Information and Technology Co., Ltd.	  	09/08/2006—08/08/2011
	45.	  	Nanjing Pulei Information Training School	  	21/09/2001—20/02/2011
	46.	  	Nanjing Xietong Computer Information Net Co., Ltd.	  	18/10/2003—17/10/2007
	47.	  	Nanjing Jingcheng Information Technology Co., Ltd.	  	10/01/2006—09/01/2010
	48.	  	Wuxi Jade Bird Computer Education Co., Ltd.	  	21/06/2006—20/06/2011
	49.	  	Wuxi New District Ousuo Software Co., Ltd.	  	18/07/2001—17/07/2010
	50.	  	Suzhou Computer Personnel Training Center	  	15/10/2001—14/10/2010
	51.	  	Nantong Science and Technology Personnel Training College	  	20/10/2001—19/11/2010
	52.	  	Changzhou Qinruan Information Technology Co., Ltd.	  	18/10/2002—17/10/2006
	53.	  	Xuzhou Zhongbo Software Co., Ltd	  	26/02/2003—25/02/2007

					
	54.	  	Xuzhou Xinglin Information Technology Co., Ltd.	  	22/08/2005—21/08/2009
	55.	  	Jiangxi Feichuang Education Co., Ltd.	  	15/02/2003—16/02/2007
	56.	  	Hebei Xinlong Information Technology Vocational Training School	  	01/04/2002—31/03/2011
	57.	  	Beijing Xinbeigao Education Science and Technology Co., Ltd	  	26/09/2002—25/09/2006
	58.	  	Tangdhang Hongji Vocational Training School	  	01/03/2004—28/02/2008
	59.	  	Qinhuangdao Shengbang Vocational Training School	  	07/04/2004—06/04/2008
	60.	  	Handan Aoxiang Information Technology Co., Ltd.	  	08/03/2006—07/03/2011
	     	  	 	  	 
	61.	  	Zhengzhou Jinshui District Huiwen Education Training School	  	25/05/2002—24/05/2006
	62.	  	Henan Huarui Information Technology Co., Ltd.	  	09/06/2006—08/06/2011
	63.	  	Tianjin Jietong Century Net Science and Technology Co., Ltd	  	08/03/2006—07/03/2011
	64.	  	Tianjin Lanbaijin Computer Education Co., Ltd.	  	12/07/2001—11/07/2010
	65.	  	Beijing Chaoyang District Zhaoyang Software Education Training School	  	18/05/2006—17/05/2011
	66.	  	Jinan Gaoxin Shichuang Software Engineering Co., Ltd	  	16/10/2001—15/10/2010
	67.	  	Qingdao Zhongxin Science and Technology Specialization School	  	01/07/2003—01/07/2007
	68.	  	Xi’an Zhaolong Computer Training Center	  	10/08/2003—09/08/2007
	69.	  	Xi’an Yanta Dstrict APTECH Jade Bird Bicheng Franchise Training School	  	01/01/2003—31/12/2006
	70.	  	Taiyuan Yilong Science and Technology Development Co., Ltd.	  	18/02/2003—17/02/2007
	71.	  	Gansu Siwei Education Software Co., Ltd	  	15/10/2001—14/10/2010
	72.	  	Harbin Nangang District Compass Computer Training School	  	18/08/2003—17/08/2007
	73.	  	Daqing Beida Jade Bird APTECH Computer Training School	  	18/08/2003—17/08/2007
	74.	  	Chuangchun Dongrun Science and Trade Co., Ltd.	  	18/09/2001—17/09/2010
	75.	  	Jilin Zhiben Dongli Computer Information Technology Co., Ltd.	  	19/06/2002—18/06/2006
	     	  	 	  	 
	     	  	 	  	 

					
	     	  	 	  	 
	     	  	 	  	 
	76.	  	Shenyang Kaitian Information Technology Training Center	  	20/03/2002—20/03/2011
	77.	  	Chaoyang Tianlu Information and Technology Service Co., Ltd.	  	27/09/2006—26/09/2011
	78.	  	Beijing Jiayin Flagship Science and Technology	  	26/12/2003—25/12/2007
	79.	  	Beijing Zhaoyang Technology Training Center	  	19/06/2006—18/06/2011
	80.	  	Beijing Chaoyang Zhaoyang Software Education and Training School	  	 
	81.	  	Beijing Peking University Education Investment Co., Ltd.	  	28/02/2004—27/02/2008
	82.	  	Beijing Tangcheng Information Technology Co., Ltd.	  	19/03/2005—18/03/2009
	83.	  	Beijing Tiancan Information Technology Co., Ltd.	  	18/02/2005—17/02/2009
	84.	  	Beijing Hexin Yongxin Software Service Co., Ltd.	  	03/04/2005—02/04/2009
	85.	  	Beijing Beijing Yuanfan Information Technology Co., Ltd.	  	29/06/2005—28/06/2009
	86.	  	Inner Mongolia Zhongshan Software Specialization College	  	01/12/2002—30/11/2006
	     	  	 	  	 
	87.	  	Urumchi Yingjie Computer Training School	  	19/02/2005—18/02/2009

 BENET 
  

					
	No.	  	Name of Companies	  	Validity Period
	1.	  	Zhuhai Qiancheng Vocational Training School	  	01/07/2004—30/06/2009
	     	  	 	  	 
	2.	  	Guangzhou Meicheng Education Information Co., Ltd.	  	10/11/2004—10/11/2009
	3.	  	Guangzhou Xiangji Lide Science and Technology Co., Ltd.	  	06/11/2005—05/11/2010
	4.	  	Shenzhen Xinshi Science and Technology Development Co., Ltd.	  	01/05/2004—01/05/2009
	5.	  	Shenzhen Nanshan District Zhongqing Information Technology Vocational Training Co., Ltd.	  	08/02/2006—07/02/2011
	6.	  	Shenzhen Jiahua Information Technology Co., Ltd.	  	12/03/2006—11/03/2011

					
	7.	  	Guizbou Tianji Computer Vocational Skill School	  	14/03/2006—13/03/2011
	8.	  	Hunan Shida Chemical Industry Development Co., Ltd/	  	18/05/2004—17/05/2009
	9.	  	Changsha Shili Commercial Service Co., Ltd.	  	18/06/2005—17/06/2010
	10.	  	Zhuzhou Aote Science and Technology Electronic Products Co., Ltd.	  	20/09/2004—19/09/2009
	11.	  	Xiangtan Jinfan Education Group	  	16/06/2006—15/06/2011
	12.	  	Wuhan Guanggu Vocational Skill Training Centre	  	06/07/2004—05/07/2009
	13.	  	Wuhan Mingsheng Electronic Information Technology Co., Ltd.	  	18/06/2005—17/06/2010
	14.	  	Xiangfan Hengrui Vocational Training Centre	  	21/01/2006—20/01/2011
	15.	  	Yichang Qianshuo Computer Information Technology Co., Ltd.	  	09/02/2006—08/02/2011
	16.	  	Nanjing Xietong Computer Information Net Co., Ltd.	  	01/08/2004—31/07/2009
	17.	  	Suzhou Industry Park Yiyang Science and Technology Co., Ltd.	  	23/09/2004—22/09/2009
	18.	  	Wuxi Zhiyuan Computer Education Co., Ltd.	  	29/11/2005—28/11/2010
	19.	  	Xuzhou Lanhai Computer Training Centre	  	23/04/2006—22/04/2011
	20.	  	Hangzhou Pioneer Net Technology Education Training Co., Ltd.	  	29/03/2004—29/03/2009
	21.	  	Hangzhou Hantian Net Science and Technology Co., Ltd.	  	19/11/2004—18/11/2009
	22.	  	Hangzhou Sanjie Information Technology Co., Ltd.	  	17/04/2006—16/04/2011
	23.	  	Ningbo Noxiang Vocational Training School	  	01/08/2005—31/07/2010
	24.	  	Shanghai Xianrui Computer Technology Training Co., Ltd.	  	01/08/2004—30/07/2009
	25.	  	Shanghai Yundeng Computer Science and Technology Co., Ltd.	  	10/10/2004—09/10/2009
	26.	  	Shanghai Yundeng Computer Science and Technology Co., Ltd.	  	31/03/2005—30/03/2010
	27.	  	Shanghai Desheng Culture Refreshment School	  	20/11/2004—19/11/2009
	28.	  	Beijing North Huateng Technology Training Centre	  	20/07/2004—19/07/2009

					
	29.	  	Beijing Guohuayuan Education Information Co., Ltd.	  	16/08/2004—01/10/2009
	30.	  	Beijing Xuezhitang Culture Education Training Co., Ltd.	  	26/10/2004—25/10/2009
	31.	  	Beijing Sinuo Xianglun Science and Technology Co., Ltd	  	28/12/2004—27/12/2009
	32.	  	Beijing Qinchi Science and Technology Development Co., Ltd.	  	11/11/2004—10/11/2009
	33.	  	Beijing Jiayin Flagship Science and Technology Development Co., Ltd.	  	31/12/2004—30/12/2009
	34.	  	Beijing Yita Zeren Information Technology Co., Ltd.	  	19/02/2005—18/02/2010
	35.	  	Beijing Boke United Net Information Technology Co., Ltd.	  	08/06/2005—07/06/2010
	36.	  	Beijing Kehai Rixing Technology Training Co., Ltd.	  	06/06/2005—05/06/2010
	37.	  	Beijing Zhiyuan Xunjie Technology Co., Ltd.	  	25/09/2005—24/09/2010
	38.	  	Beijing Jingcheng United Net Education Science and Technology Co., Ltd.	  	30/06/2006—29/07/2011
	39.	  	Beijing Zhibohengyuan Technology Co,. Ltd.	  	18/08/2006—17/08/2011
	40.	  	Xi’an Zhaolong Computer Training Centre	  	02/11/2004—01/11/2009
	41.	  	Gansu Xiyu Xiangyun Vocational Training School	  	18/06/2005—17/06/2010
	     	  	 	  	 
	42.	  	Harbin Nangang District Compass Computer Training School	  	18/05/2004—17/05/2009
	43.	  	Daliang maocin Science and Technology Training School	  	25/03/2005—24/03/2010
	44.	  	Liancheng Dongchengfu District Sichuang Computer Training Co., Ltd.	  	25/03/2005—24/03/2010
	45.	  	Yizhou Liangzhong Science and Technology Co., Ltd.	  	28/08/2004—28/08/2009
	46.	  	Zhengzhou Xiangtian Homing Pigeon Science and Technology Co., Ltd.	  	10/02/2006—09/02/2011
	47.	  	Luoyang Hongzhuo Electronic Information Technology Co., Ltd.	  	05/07/2006—04/07/2011
	48.	  	Heibei Shengban Information Co., Ltd.	  	17/08/2006—16/08/2011
	49.	  	Tianjing Longhe Science and Technology Development Co., Ltd.	  	04/04/2006—03/04/2011

 BETEST 
  

					
	No.	  	Name of Companies	  	Term of Contracts
	1.	  	Beijing Test Times Xinxi Information Technology Co., Ltd.	  	01/10/2005—30/09/2010
	2.	  	Beijing Chunyou Pilotage Science and Technology Co., Ltd	  	01/04/2006—31/03/2011
	3.	  	Beijing Test Space Science and Technology Co., Ltd	  	26/01/2006—25/01/2011
	4.	  	Zhuhai Qiancheng Vocational Training School	  	01/09/2005—31/08/2010
	5.	  	Shenzhen Futian District Xinshi Vocational Training Centre	  	06/04/2006—05/04/2011
	6.	  	Wuhan Feilong Information Technology Co., Ltd.	  	16/01/2006—15/01/2011

 Franchise Contracts that have been signed but not performed: 
  

									
	 Name of
 Companies
	  	Signing Date	  	 Term of
 Contracts
	  	 Franchised
 Products
	  	Current Status
	     	  	 	  	 	  	 	  	 
	     	  	 	  	 	  	 	  	 
	     	  	 	  	 	  	 	  	 
	     	  	 	  	 	  	 	  	 
	     	  	 	  	 	  	 	  	 
	Nanjing Sibida Education Co., Ltd.	  	23/08/2006	  	23/11/2006—22/11/2011	  	ACCP	  	With the second batch of start-up materials delivered.
	 Shanghai Rongwei
 Information and Technology Co., Ltd.
	  	24/08/2006	  	16/12/2006—15/12/2011	  	ACCP	  	With the second batch of start-up materials delivered.
	Dongguang Yuanjian Software Technology Development Co,. Ltd.	  	16/09/2006	  	16/12/2006—15/12/2011	  	ACCP	  	With the first batch of start-up materials delivered.
	Xi’an Hesheng Printing Co., Ltd.	  	20/09/2006	  	20/12/2006—19/12/2011	  	ACCP	  	With the first batch of start-up materials delivered.
	Shenzhen Weiwen Investment Development Co., Ltd.	  	28/09/2006	  	28/12/2006—27/12/2011	  	ACCP	  	With the first batch of start-up materials delivered.

									
	Fujian Saidi Net Co., Ltd.	  	26/09/2006	  	26/12/2006—25/12/2011	  	ACCP	  	With the first batch of start-up materials
delivered.
	Yantai Branch of Beijing Zhongxing Yuandong Technology Development Co., Ltd.	  	12/10/2006	  	12/01/2007—11/01/2012	  	 BENET
	  	With the first batch of start-up materials delivered.
	Jiangsu Leidu Education Co., Ltd.	  	08/09/2006	  	08/12/2006—07/12/2011	  	BENET	  	With the first batch of start-up materials delivered.
	Nanjing Sibida Education Co., Ltd.	  	23/08/2006	  	23/11/2006—22/11/2011	  	 ACCP
	  	With the second batch of start-up materials delivered.

  

	(2)	House Lease Contracts 

  

							
	No.	  	Name of Companies	  	Signing Date	  	Term of Contracts
	1.	  	Shanghai Higher Learning Institution Rear Service Center	  	23/03/2006	  	18/05/2006—17/05/2011
	2.	  	Fuzhou Industry Exhibition Plaza Co., Ltd.	  	24/03/2006	  	20/03/2006—19/03/2010
	3.	  	Beijing Anzhen Century Realty Co., Ltd Yangzhou Branch	  	31/03/2006	  	05/05/2006—04/05/2011
	4.	  	Kunming Sport Industry Development Center	  	2006	  	05/01/2006—05/02/2011
	5.	  	Xiamen Baoheng Trading Co., Ltd.	  	24/03/2006	  	15/03/2006—14/03/2010
	6.	  	Qingdao Huayin Real Estate Development Co., Ltd.	  	15/03/2006	  	01/05/2006—30/04/2011
	7.	  	Beijing Peng’an Science and Technology Hatcher Co., Ltd.	  	22/03/2005	  	22/03//2005—11/04/2010
	8.	  	Tianjin Communication Administration Service Center	  	23/01/2005	  	24/01/2005—24/01/2008
	9.	  	Chongqing Wanma Industrial Co. Ltd	  	25/ 1212004	  	25/12/2004—25/12/2009
	10.	  	Guangzhou Xingzheng Industrial Co., Ltd.	  	0 1/07/2005	  	01/08/2005—31/07/2010
	11.	  	Beijing Peony Electronic Group Co., Ltd.	  	2005	  	01/01/2005—31/12/2009
	12	  	Shanghai Youth Center	  	02/02/2005	  	01/03/2005—28/02/2010
	13.	  	Hangzhou Westlake Science and Technology Growth Co. Ltd.	  	25/05/2005	  	01/06/2005—14/06/2010
	14.	  	Trading Center of Yantai Development Zone	  	18/01/2006	  	20/02/2006—19/02/2011

							
	15.	  	Liu Wenying	  	17/01/2006	  	01/04/2006—31/03/2011
	16.	  	Zhenjiang Keda Rear Service Assets Management Company	  	23/12/2005	  	10/02/2006—10/02/2011
	17.	  	Fifth Research Institute of Electronic Communication	  	04/01/2006	  	20/02/2006—19/02/2011
	18.	  	Shenzhen Shum Yi Logistics Group Holdings Co., Ltd.	  	20/01/2006	  	01/02/2006—28/02/2009
	19.	  	Guangzhou Liyuan Property Management Co., Ltd.	  	23/03/2005	  	01/03/2005—14/05/2009
	     	  	 	  	 	  	 
	20.	  	Nantong Department Store Co., Ltd.	  	01/01/2006	  	04/02/2006—03/02-2011
	21.	  	Hefei Worker’s Cultural Complex	  	27/12/2005	  	25/12/2005—24/12/2010
	22.	  	Shenyang Hengji Industrial Co., Ltd.	  	28/12/2005	  	01/03/2006—28/02/2011
	23.	  	Beijing Jingdu Ronghua Property Management Co., Ltd.	  	12/10/2002	  	12/10/2002—11/10/2007

  

	(3)	Teaching Materials Printing Contracts 

 Beijing
APTECH and Zhuhai Hamah Industrial Co., Ltd. entered into ACCP Enlightening Star Printing Contract, BETEST Printing Contract, ACCP Printing Contract and BENET Printing Contract on Dec. 28, 2005. 
  

	(4)	Purchase Contract 

 Beijing APTECH and Shenzhen
Founder Information System Co., Ltd. entered into Project Beda Jade Bird Sale Contract on Dec. 22, 2005. 
  

	(5)	AD Contract 

 Beijing APTECH and Beijing Yibang
Zongheng Ad-agency Co., Ltd. entered into contract on Feb. 28, 2006; 
 Beijing APTECH and Beijing Yibang Zongheng Ad-agency Co., Ltd.
entered into Ad-release contract on Apr. 21, 2006; 
  

	(6)	Public Relation Contract 

 Beijing APTECH and
Beijing Pinovate Consulting Co., Ltd. entered into PR Agency Contract on Jan. 28, 2006. 
  

	(7)	WDP Contract 

 Beijing APTECH and Beijing Oracle
Software System Co., Ltd. entered into Oracle Workforce Development Program (“WDP”) Contract. 

 5.1 (15) 
  

	(1)	Related transaction between or among the Company and its shareholders or its related companies 

  

	a)	In 2006, the Company and Beijing Beida Jade Bird Software System Company entered into Trade Mark Registration and Licensing Agreement; 

  

	b)	The Company, Beijing APTECH and Guangzhou Beida Jade Bird Education Information Co., Ltd, Shanghai Beida Jade Bird Educational Information Technology, Beijing Beida
Jade Bird Co., Ltd. entered into Share Transfer Agreement on Mar. 18, 2005; and entered into Supplementary Agreement on Mar. 31, 2005. 

  

	c)	Beijing APTECH and PUEI entered into Single Spot Franchise Training Agreement on Nov. 26, 2003; 

  

	d)	Other related transaction: 

 The
Company entered into a contract with Beijing Beida Jade Bird Co., Ltd. on Mar. 3, 2005, with a sum receivable of RMB 2.24 million. 
  

	(2)	Related Transaction between the Company and Beijing APTECH 

  

	a)	The Company and Beijing APTECH entered into Franchise Agreement of Training Program on Jan. 16, 2005; 

  

	b)	The Company and Beijing APTECH entered into Adjusted Agreement of the Licensed Business on Dec. 16, 2005; 

  

	c)	The Company and Beijing APTECH entered into Franchise Agreement on Curriculum Exchange within the territory of China on Dec. 20, 2005; 

  

	d)	The Company and Beijing APTECH entered into BETEST (Software Test) Products, IP Transfer Contract. 

 5.1 (16) 
 Beijing APTECH is the legal
register of the following registered trademarks: 
  

	(1)	Trade Mark of No. 3135109 

  

	(2)	Trade Mark of No. 3135113 

  

	(3)	Trade Mark of No. 3135114 

  

	(4)	Trade Mark of No. 3133936 

  

	(5)	Trade Mark of No. 3133937 

  

	(6)	Trade Mark of No. 3140170 

	(7)	Trade Mark of No. 3140172 

  

	(8)	Trade Mark of No. 3135107 

  

	(9)	Trade Mark of No. 3140168 

  

	(10)	Trade Mark of No. 3140173 

  

	(11)	Trade Mark of No. 3140165 

  

	(12)	Trade Mark of No. 3140167 

  

	(13)	Trade Mark of No. 3140166 

  

	(14)	Trade Mark of No. 3140164 

 The Company
currently is licensed to use the trademarks of no. (1) to no. (8) listed above. 
 For information of litigation and arbitration in
connection with the IP, please refer to 5.1(11).Share Transfer Contract

 Exhibit 10.16 
 Execution Copy 
  
 Contract 
 By and Between 
 16 Individual Shareholders 
 And 
 Prosperity Holdings Limited 
 On Transfer of 20% Shares of 
 Beijing Jade Bird Educational Information Technology Co. Ltd. 
 Held by

 The 16 Individual Shareholders 

 Execution Copy 
  
  

 Table of Content 
  

			
	 Article 1
	 	Definitions
		
	 Article 2
	 	Share Transfer
		
	 Article 3
	 	Conditions Precedent
		
	 Article 4
	 	Transfer Price and Completion of Share Transfer
		
	 Article 5
	 	Presentations, Undertakings and Warranties of Both Parties
		
	 Article 6
	 	Remedies
		
	 Article 7
	 	Termination
		
	 Article 8
	 	Force Majeure
		
	 Article 9
	 	Confidentiality
		
	 Article 10
	 	Miscellaneous
		
	 Appendix 1
	 	List of Individual Shareholders
		
	 Appendix 2
	 	List of Share Transfer Price Payable to Each Individual Shareholder
		
	 Appendix 3
	 	Letter of Disclosure

 Execution Copy 
  
  

 This share transfer contract (hereinafter referred to as “the Contract”) is entered into by
and among the following parties on October 20, 2006 in Beijing, China: 
 Party A 1: Yang Ming 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 110108650527181 
 Parry A 2: Tang
Chengxi 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 42010719570817151X 
 Party A 3: Liang
Jun 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 320102196810132831 
 Party A 4: Sun
Quntain 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 411024197407291613 
 Party A 5: Lu Jun

 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 420300197304081716 
 Party A 6: Xiao
Rui 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 220104731125155 

 Execution Copy 
  
  

 Party A 7: Gao Wei 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 230502197004290020 
 Party A 8: Lin
Ping 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 420107196401120050 
 Party A 9: Guo
Nannan 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 110102690905002 
 Party A 10: He Wenrui

 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 110102196505152335 
 Party A 11: Zhang
Hong 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 610330196305302022 
 Party A 12: Yu
Lina 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 430202750901604 

 Execution Copy 
  
  

 Party A 13: Xiao Qiqin 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 420107195010180035 
 Party A 14: Li
Xiangyang 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 420105741218083 
 Party A 15: Wang Yang

 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 110108680223341 
 Party A 16: Zhang
Ming 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 ID No.: 610302197603014650 
 For the purpose of
this Contract, Party Al to Party A16 hereto are referred as to Party A collectively. 
 Party B: Prosperity Holdings Limited 

 

			
	Official Address:	 	C/O Close Trustees (Cayman) Ltd.
		 	PO Box 1034GT, 4th Floor
		 	103 South Church Street
		 	Grand Cayman, Cayman Islands

 Authorized Representative: David Hand 
 Title: Director 
 Nationality: United States of America 

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 WHEREAS: 
  

	A.	Each person of Party A is an individual with legal identity in the People’s Republic of China (“PRC”), and has full capacity of civil acting according to
PRC laws. 

  

	B.	Beijing Jade Bird Educational Information Technology Co., Ltd. (the “Company”) is a company duly incorporated and existing under the laws of PRC, in which
Beijing Peking University Education Investment Co., Ltd holds 70% of its shares and Party A collectively holds 30% of its shares. 

  

	C.	Party B, is a limited liability company duly incorporated and existing under the laws of Cayman Islands. 

  

	D.	Party A agrees to transfer to Party B collectively 20% of the shares of the Company; and Party B agrees to accept the afore-mentioned shares. 

The two parties hereby agree as follows: 
 Article 1 Definition 
  

							
	1.1	  	Party A	  	Refers to	 	Yang Ming, Tang Chengxi, Liang Jun, Sun Quntain, Lu Jun, Xiao Rui, Gao Wei, Lin Ping, Guo Nannan, He Wenrui, Zhang Hong, Yu Lina, Xiao Qiqin, Li Xiangyang, Wang Yang and Zhang Ming.

				
	1.2	  	Party B	  	Refers to	 	Prosperity Holdings Limited.
				
	1.3	  	Company	  	Refers to	 	Beijing Jade Bird Educational Information Technology Co., Ltd.
				
	1.4	  	Target Share	  	Refers to	 	 Collectively 20% of the shares of the Company currently held by Party A (Contributions subscribed by each individual of Party A to the
registered capital of the Company are set forth in Appendix 1 of this Contract) and intended to be transferred to Party B, including titles, profit distribution rights, asset distribution rights and all other rights in connection with such
shareholding and which the shareholders of the Company are entitled to under the articles of association of the Company and PRC laws.

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	1.5	  	 Target
 Share Transfer
	  	Refers to	 	Party A transfers the Target Share it currently holds to Party B according to the Contract
				
	1.6	  	Closing Date	  	Refers to	 	Date on which CBEX releases the Transfer Price according to Article 4.2 of this Contract to Parry A
				
	1.7	  	 Examination
 and Approval
 Authority
	  	Refers to	 	Ministry of Commerce of PRC or its local delegates.
				
	1.8	  	CBEX	  	Refers to	 	China Beijing Equity Exchange
				
	1.9	  	PRC	  	Refers to	 	The People’s Republic of China (so far as the Contract is concerned, Hong Kong Special Administration Region, Macau Special Administration Region and Taiwan are not included.)

				
	1.10	  	Transfer Price	  	Refers to	 	The price of the Target Share that Party A transfers to Party B as stipulated in more detail in Article 4.1 of the Contract.

 Article 2 Share Transfer 
  

	2.1	Party A agrees to transfer and Party B agrees to accept the Target Share, provided the Conditions Precedent prescribed in Article 3 of the Contract are met.

  

	2.2	Party A shall remain entitled to the Company’s profits attributable to it according to its equity in the Company by the Closing date. 

 Article 3 Conditions Precedent 
  

	3.1	Party B shall not be obliged to make payment of the Transfer Price unless all and any of the following conditions precedent are satisfied. Party B shall have the right,
but not the obligation, to waive one or more of the following conditions: 

  

	 	(1)	The Company has adopted a board resolution and a shareholders’ meeting resolution to approve the Target Share Transfer; 

  

	 	(2)	All the shareholders of the Company except for Party A, have respectively issued letters of undertaking, consenting to Party A’s Target Share Transfer and waiving
their right of first refusal. (or such undertaking has been included in shareholders’ meeting resolutions of the Company.); 

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	 	(3)	The Target Share Transfer has followed the procedure of assets evaluation and obtained an assets evaluation report; 

  

	 	(4)	The Target Share Transfer has obtained approval for the share transfer hereunder issued by Examination and Approval Authority, Certificate of Approval for Establishment
of Foreign Investment Enterprise, Enterprise Legal Person Business License, and other necessary approvals and permissions. 

  

	 	(5)	By the Closing Date, the business and financial situation of the Company does not have material adverse changes; 

  

	 	(6)	By the Closing Date, all the representations, undertakings and warranties made by Party A are true, accurate and sufficient; 

  

	 	(7)	By the Closing Date, there has been no change in PRC law which frustrates the purpose of the Contract. 

 Article 4 Transfer Price and Completion of Target Share Transfer 
  

	4.1	Both parties hereby unanimously agree that the Transfer Price for Target Share Transfer shall be US$ 4.5 million in total (Transfer Price paid to each individual
of Party A is set forth in Appendix 2 of this Contract). Party B shall make payment of the afore-mentioned Transfer Price in US$. 

  

	4.2	After the Company obtains approval and certificate from Examination and Approval Authority with respect to the Target Share Transfer, Party B shall make payment of all
Transfer Price as afore-mentioned in Article 4.1. to a designed bank account by CBEX, in accordance with the Escrow and Settlement Agreement of Equity Transaction Fund (“Escrow Agreement”) entered into by Party A, Party B and CBEX; after
completion of alteration registration formalities with the administration for industry and commerce with respect to the Target Share Transfer by the Company, CBEX will make payment to Party A’s designated bank account all Transfer Price as
afore-mentioned in Article 4.1. 

  

	4.3	Within 7 days (or at such period of time the parties otherwise agreed upon) after receipt of payment of all the Transfer Price, Party A shall issue to Party B a written
document evidencing receipt of the same. 

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 Article 5 Presentations, Undertakings and Warranties 
  

	5.1	Each of Party A hereby individually and collectively, unconditionally and irrevocably makes the following presentations, undertakings and warranties to Party B that, by
the Closing Date of the Target Share Transfer: 

  

	(1)	Each person of Party A is an individual with legal identity in PRC, and has full capacity of civil acting according to PRC laws; 

  

	(2)	Party A has full and exclusive ownership and right of disposal on Target Share to be transferred to Party B pursuant to the Contract; the Target Share is free from any
secured interest or third party interest such as pledge, neither does it have any legal or factual flaws with respect to disclosure in connection with any third party interest. 

  

	(3)	All the permits and licenses which are necessary for continuous operation of the Company’s business, including without limitation Certificate for Running
Non-government Schools issued by educational authority or labor and social security authority, Certificate of Approval for High and New Technology Enterprise, are fully effective by the Closing Date of the Target Share Transfer and Party A will
assist the Company in maintaining effectiveness of the aforementioned licenses and certificates during the existence of the Company; 

  

	(4)	Except for those events disclosed in Appendix 3- Letter of Disclosure, Party A’s execution of the Contract, it’s exercise of rights and performance of
obligations hereunder, shall not violate: 

  

	 	(a)	restrictions imposed by governing laws, regulations, rules, judgments, rulings, arbitration awards, administrative decisions and orders binding or having impact on
Party A; 

  

	 	(b)	any documents, agreements or contracts to which Party A is a party, or any documents, agreements or contracts which have binding effect on Party A;

  

	(5)	Party A has not been involved in any litigation, arbitration or any other legal or administrative proceedings which are on-going, pending, to be initiated, or claimed
to be initiated by a third party, which will or may substantively affect the Target Share Transfer under the Contract. 

  

	(6)	Except for the events disclosed in Appendix 3- Letter of Disclosure, all other actions to be taken and conditions or issues to be fulfilled by Party A required by
applicable laws have been taken, complied with and performed on or before the signing date of the Contract, so as to: 

  

	 	(a)	enable Party A to legitimately enter into the Contract and perform its obligations hereunder; 

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	 	(b)	make Party A’s obligations and responsibilities under the Contract legal, effective and enforceable; 

  

	 	(c)	make the Contract admissible as evidence in the PRC. 

  

	(7)	The presentation of item (A) and (B) of the “Whereas” section is true and accurate, and all the capital contribution relating to the Target Share
has been fully made. 

  

	(8)	Party A warrants that, in addition to those events disclosed in Appendix 3- Letter of Disclosure, it has made full disclosure to Party B all such materials, which would
substantively and adversely affect Party A’s capacity to fully perform its obligation under the Contract, or, if disclosed to Party B, will substantively and adversely affect Party B’s willingness to enter into the Contract. Moreover, all
such events it disclosed and all such materials it provided to Party B (including without limitation to the materials Party A provided during the due diligence carried out by Party B or its counsel for the Target Share Transfer) are true, complete
accurate, and free from any substantive inaccurate or misleading presentations. 

  

	(9)	Party A warrants that the accounting books of the Company are complete, and the financial statements disclosed by the Company for the Target Share Transfer are prepared
in accordance with current PRC laws, regulations, rules and accounting standards. The afore-mentioned accounting books and financial statements completely, truly and accurately reflect the financial status and profits of the Company by the end of
relative fiscal periods. From the date of the financial statements issued to the Closing Date of the Target Share Transfer, the business or financial status of the Company do not have any substantive and adverse change. 

  

	(10)	Party A warrants that, except for those events disclosed in Appendix 3- Letter of Disclosure, the Company has not ever violated any PRC laws or regulation which may
result in adverse effect on the transaction; the Company is not involved in any pending material litigations, arbitrations or administrative penalties which may result in adverse effect on the transaction. 

  

	(11)	 Party A warrants that, from the establishment date of the Company to the Closing Date, the Company has complied with all relevant tax laws and
regulations, has made full payment of all taxes and charges explicitly collected by the tax authority, has not received any reminder letter from taxation authority or any other relevant authority and has not been subject to punishment

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which may result in adverse effect on the transaction due to tax related issues; does not have any pending taxation investigations or disputes which may result in adverse effect on the
transaction. 

  

	(12)	Party A warrants that, it will made full payment of all and any taxes and fees imposed upon the Transfer Price in accordance with relevant PRC laws and regulations.

  

	(13)	Party A warrants that, the Company has provided Party B with a complete list of all the franchise contracts, as well as those decoration, equipments purchase, printing
and advertisement contracts with a contract price in excess of RMB 2 million, which are currently being performed and related to the operation of the Company’s business by the Closing Date. 

  

	(14)	Party A warrants that, except for those connected transactions disclosed in Appendix 3- Letter of Disclosure, between and among the Company and its Subsidiaries, and
between and among such subsidiaries, the Company does not have any other connected transactions. 

  

	(15)	Party A warrants that, it lawfully owns or has the right to use all the patent, patent right, invention, copyright and know-how (including industrial secrets, other
non-patent, or non-patentable know-how or confidential information, systems or programs), trademark, service logo and trade name (hereinafter referred to as “IP”), which the Company currently uses and are related to the business operation
of the Company. Regarding the afore-mentioned IP, the Company has not received any notice claiming infringement or dispute with rights announced by others; In addition during operation of business, the Company currently is not involved in any
infringement of any patent, copyright, ownership, trademark, service logo, commercial logo or other intellectual property domestically registered (except for the office software daily used). 

  

	(16)	Party A warrants that, except for those events disclosed in Appendix 3- Letter of Disclosure, the Company does not have any other labor disputes with its senior
management staff members. 

  

	(17)	Party A warrants that, except for those economic losses disclosed in Appendix 3- Letter of Disclosure, any economic loss which incurred to the Company before the
Closing Date of the Target Share Transfer caused by Party A’s intention or significant negligence and becomes known to Party B after the Closing Date of the Target Share Transfer, shall be born by Party A, and shall be irrelevant to the Company
after the change of shareholders. 

  

	(18)	 Party A warrants that after the signing of the Contract, it will cooperate with Party B and other organizations to facilitate the

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fulfillment of all conditions precedent specified in Article 3, thus to ensure the Target Share Transfer from Party A to Party B. Party A shall, by itself or authorize the Company, submit to
related authorities all documents, carry out and complete filing and approval formalities required for the Target Share Transfer, thus ensure Party B acquire all the documents stipulated by the laws and regulations, and complete the delivery of
Target Share within stipulated period. 

  

	(19)	Party A warrants that, upon receipt of any approval, reply or notice on any amendments or supplements to the documents submitted from the authority in charge in
connection with the Target Share Transfer, it shall inform Party B immediately and deliver to Party B photocopies of such documents and notices. 

  

	(20)	Where, at anytime before the Closing Date of the Target Share Transfer (inclusive), Party A realizes any situation which will make the presentations, undertakings and
warranties it made under the Contract become untrue or inaccurate, Party A shall inform Party B immediately and take remedial measures as reasonably required by Party B. 

  

	(21)	Upon execution and coming into force, the Contract will be legally and effectively binding on Party A, the articles hereof will be enforceable, and Party A undertakes
it shall not be entitled to any right of exemption. 

  

	(22)	After the Closing Date, Party A shall continue to act as management staff of the Company, if the Company so chooses. 

  

	(23)	All presentations, undertakings and warranties Party A made above are true, accurate, complete, sufficient, unconditional and without reservation.

  

	5.2	Party B hereby unconditionally and irrevocably makes the following presentations, undertakings and warranties to Party A that, by the Closing Date of the Target Share
Transfer: 

  

	(1)	Party B has been a limited liability company duly incorporated and existing under the laws of Cayman Islands. 

  

	(2)	Party B’s execution and performance of the Contract is fully within its authority and scope of business and is duly authorized by the company. It will not violate
any restrictions imposed by binding or influential laws, regulations, rules, judgments, rulings, articles of association, internal regulations and contracts; Upon execution and coming into force, the Contract will become legally and effectively
binding, and articles specified herein shall be enforceable. 

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	(3)	The shareholder of Party B is Crescent Jade Limited. which is a limited liability company controlled by CPV Investments Limited. 

  

	(4)	Party B has not been involved in any litigation, arbitration or any other legal or administrative proceedings which are on-going, pending, to be initiated, or claimed
to be initiated by a third party and will or may substantively affect the Target Share Transfer under the Contract. 

  

	(5)	Party B warrants that, promptly after the signing of the Contract, it will cooperate with Party A and other organizations to facilitate the fulfillment of all
conditions precedent specified in Article 3, thus to ensure the Party B’s receipt of Target Share. 

  

	(6)	Party B will produce all the necessary documents required by Examination and Approval Authority and other governmental authorities, including without limitation the
identification certificate of Party B, which has been notarized by the notary public of the home state of Party B and has been legalized by the PRC embassy (consulate) in that state, and a bank reference letter; Party B will also cooperate with
Party A in completion of all procedures of approvals and registration in connection with the Target Share Transfer and alteration of the Company. Where the documents need to be signed by Party B, Party B shall guarantee to extend its cooperation and
such cooperation shall not be unreasonably withheld;; 

  

	(7)	The presentation of item (C) of the “Whereas” section is true and accurate. 

  

	(8)	Upon completion of the Target Share Transfer, Party B will assume all the rights and obligations Party A used to have under the current articles of association of the
Company. 

  

	(9)	Party B has made full disclosure to Party A, all such materials it has regarding Party B, which would substantively and adversely affect Party B’s capacity to
fully perform its obligation under the Contract, or, if disclosed to Party A, will substantively and adversely affect Party A’s willingness to enter into the Contract, and all materials that Party B provided to Party A are free from any
substantively untrue or misleading presentations 

  

	(10)	Where, at anytime before the Closing Date of the Target Share Transfer (inclusive), Party B realizes any situation which will make the presentations, undertakings and
warranties it made under the Contract become untrue or inaccurate, Party B shall inform Party A in a timely fashion and take remedial measures as reasonably required by Party A. 

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	(11)	Upon execution and coming into force, the Contract will be legally and effectively binding on Party B, the articles hereof will be enforceable, and Party B undertakes
it is not entitled to any right of exemption 

  

	(12)	All presentations, undertakings and warranties Party B made above are true, accurate, complete, sufficient, unconditional and without reservation.

 Article 6 Remedies 
  

	6.1	Each person of Party A shall be liable for its undertakings, warranties which Party A made before the Closing Date, and independently bear any liabilities or losses
arising therefrom, if such undertakings, warranties are untrue, inaccurate, incomplete and insufficient. 

  

	6.2	Related individual shareholder(s) of Party A shall indemnify Party B any losses caused by any litigations, arbitrations, claims, administrative proceedings and other
legal proceedings against Party B, which incurred before the Closing Date of Target Share Transfer, relating to or arising out of the Target Share Transfer. 

  

	6.3	Party B shall pay Party A the Transfer Price in accordance with Articles 4.1 and 4.2 of the Contract. Should the Transfer Price not be paid to CBEX by Party B within
the period set forth in the Contract and the Escrow Agreement, Party B shall compensate Party A for the delay in payment calculated at a rate of 0.01% of the Transfer Price outstanding per day. 

  

	6.4	Both parties shall perform their obligations under the Contract in good faith. Unless otherwise stipulated in this Contract, where one party fails to perform its
obligations or violates any of the articles, conditions, undertakings, announcements and warranties of the Contract, the other party shall have the right to claim remedies from the non-performing or breaching party for all losses, damages caused
thereby, as well as fees, expenditures incurred in the litigation and claim. 

  

	6.5	Where the conditions set forth in Article 3 of the Contract could not be fulfilled within six (6) months from the execution date of the Contract and such failure
cannot be attributed to either of the Parties, the Parties may terminate the Contract by negotiation and neither Party will be liable for it. 

 Article 7 Termination 
  

	7.1	The Contract shall be terminated at the occurrence of any of the following events: 

  

	(1)	After friendly consultation, both Party A and Party B unanimously agree in writing to terminate the Contract. 

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	(2)	The conditions precedent regarding Target Share Transfer as set forth in Article 3 of the Contract are not fully met within six (6) months after execution of the
Contract and both parties fail to unanimously agree in writing, as permitted by law, on exemption of such conditions. 

  

	(3)	Where one party materially violates any article of the Contract, or where any of the presentations, undertakings or warranties it made in the Contract proves to be
false, the abiding party may deliver a written notice requiring the breaching party to immediately take remedial measures; Where the breaching party fails to take measures to remedy and rectify its violation in a way to the satisfaction of the
abiding party within sixty (60) days after the delivery of the afore-mentioned written notice, the abiding party shall have the right to terminate the Contract immediately. 

  

	(4)	Newly promulgated laws and regulations make it impossible to continue to perform the Contract. 

  

	(5)	Force Majeure events as specified in Article 8 of the Contract sustain more than six (6) months and make it impossible to continue to perform the Contract.

  

	7.2	Where Party B violates Articles 4.1 and 4.2 of the Contract and delays payment of the Transfer Price of the Target Share Transfer in excess of 20 days, unless otherwise
provided in the Escrow Agreement, Party B shall, in addition to make payment of the penalties specified in Article 6.3, give Party A the right to unilaterally termination the Contract. 

  

	7.3	Where the Contract is terminated, either party shall return to the other party all relevant records, documents and materials the other party delivered pursuant to the
Contract, regardless whether the afore-mentioned records, documents and materials were delivered before or after the execution of the Contract. 

  

	7.4	Where the Contract is terminated, the relationship between Party A and Party B, and relationship with the Company or other relevant parties shall resume to what it was
before the execution of the Contract. Party A holds 30% of shares of the Company and all individuals of Party A return to Party B all share Transfer Price paid in accordance with Article 4.1 of the Contract. 

 Where necessary, Parties shall, in accordance with relevant laws, be responsible for completion of the approval formalities required for
termination of the Contract and cooperate with each other in signing all the agreements and documents required

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for resuming the relation between Party A and Party B, and relationship with the Company or other relevant parties to what it was before the execution of the Contract. The cost incurred for
preparation, performance and termination of the Target Share Transfer under the Contract, including without limitation taxes, governmental fees and fees for retaining agencies, shall be born by the breaching party if any, in the absence of breaching
party, the cost shall be born by the two parties respectively. 
  

	7.5	The liabilities for damages for breach of contract as stipulated in the Contract shall not be released because of the termination of the Contract.

 Article 8 Force Majeure Event 
  

	8.1	“Force majeure event” shall refer to an event whose occurrence is unforeseeable at the time the Contract is executed by the two parties, and whose occurrence
is unavoidable or whose consequence is unable to be overcome, and thus makes one party unable to perform any of the articles of the Contract in whole or in part, which includes earthquake, tsunamis, typhoon, flood, war and infectious disease and
other afore-mentioned unpredictable, unavoidable and insuperable events, as well as the force majeure events recognized by general international commercial customs. 

  

	8.2	Upon occurrence of a force majeure event, the affected party can suspend the performance of its duties or obligations under the Contract during the event without being
treated as in breach of the Contract. However, the affected party shall take all measures to notify the other party in writing immediately, and, within 15 days after occurrence of the force majeure event, produce documents evidencing occurrence
and/or existence of the force majeure event as required by PRC law, failure to do which, no force majeure event shall be recognized. 

  

	8.3	Upon occurrence of force majeure event, the affected party shall make best effort and take all measures to mitigate the losses. 

  

	8.4	Upon occurrence of force majeure event, both parties to the Contract shall consult each other immediately for a fair resolution, and shall make all reasonable endeavors
to mitigate the adverse effect caused by such force majeure event. 

  

	8.5	Where one party breaches the Contract and delays the performance of its obligation hereunder, and a force majeure event occurs thereafter, that party shall not be
exempted from liabilities because of the occurrence of the force majeure event. 

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 Article 9 Confidentiality 
  

	9.1	Any party may have disclosed or need to disclose to the other party confidential and exclusive materials regarding its business, financial status and other confidential
matters. Unless otherwise stipulated by other confidentiality agreement, the party who receives the afore-mentioned materials (including writing and none-writing materials, hereinafter referred to as “Confidential Materials”) shall:

  

	(1)	keep all the Confidential Materials confidential; and 

  

	(2)	except for the accepting party’s staff (if any) the discharge of whose responsibilities requires knowledge of the Confidential Materials, do not disclose the
afore-mentioned Confidential Materials to any other person or entity. 

  

	9.2	Clause 9.1 of the Contract shall not apply to; 

  

	(1)	materials known to the accepting party, proved by records in writing made before the disclosing party makes the disclosure to the accepting party;

  

	(2)	materials becoming accessible in public domain not attributable to accepting party’s breach of this Contract; 

  

	(3)	materials which the accepting party obtained from a third party who bears no confidential responsibilities; or: 

  

	(4)	materials contained in the documents published in the course of completion of the Target Share Transfer formalities. 

  

	9.3	Each party shall ensure that the directors, senior officials of itself and the affiliated companies relating to the Target Share Transfer, as well as other employees
(if any) involved in the Target Share Transfer shall abide by the confidentiality obligation under article 9 of the Contract 

  

	9.4	Article 9 of the Contract shall not apply to the disclosure of Confidential Materials to affiliated companies, intermediaries, employees (if any) and counsels of each
party for the purpose of the Target Share Transfer; however, under such circumstance, the materials shall only be disclosed to those persons or entities which have to know the materials for discharging their responsibilities.

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	9.5	Article 9 of the Contract shall not apply to disclosure of the materials to any governmental authorities or relevant entities by any of the parties to the Contract
pursuant to laws or regulations. However, the party required to make the disclosure shall, before such disclosure is made, immediately notify the other party of such requirements and terms. 

  

	9.6	Any of the regulation under Article 9 of the Contract shall not impede the announcement or disclosure, which one party makes in good faith and pursuant to governing
laws or regulations. 

 Article 10 Miscellaneous 
  

	10.1	Effective Date 

 After execution
by individuals of Party A and the legal representative or authorized representative of Party B, the Contract shall become effective on the date it is approved by the Examination and Approval Authorities. 
  

	10.2	Costs and Expenses 

 Unless
otherwise agreed upon in the Contract, taxes and charges collected according to law in connection with execution and performance of the Contract shall be born by Party A and Party B respectively in accordance with PRC laws and regulation. Where the
laws and regulations do not explicitly specify the payer, Party A and Party B shall pay 50% of the fees respectively. Neither Party A nor Party B shall have the obligation to pay the fees on behalf of the other party. 
  

	10.3	Governing Laws 

 The governing
law of this Contract shall be PRC laws; and the execution, validity, interpretation, performance and dispute resolution of this Contract shall be subject to PRC laws. However, where PRC laws do not regulate on any of the issues specified in the
Contract, the same shall be governed by reference to international commercial customs. 
  

	10.4	Dispute Resolution 

 The parties
shall make endeavor to settle their disputes arising out of the performance of the Contract or in connection with of the Contract, through friendly consultation; Where the parties fail to settle the disputes through consultation, either party shall
have the right to submit the dispute or claim arising from the Contract to China International Economic and Trade Arbitration Commission (the “CIETAC”) and have the dispute settled through arbitration in Beijing as per current CIETAC
rules. During the arbitration, except for the clauses under dispute, other clauses of the Contract shall continue to be performed. 

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	10.5	Language and Copy 

 The Contract
shall be executed in both Chinese and English languages and both in eight (8) copies, each party shall keep one copy of both versions, the Company shall keep one copy for filing, and the remaining copies shall be submitted to the relevant
Examination and Approval Authorities, all of which shall have equal legal force. In the event of a discrepancy between the two language versions, the Chinese version shall prevail. 
  

	10.6	Severability 

 Where any article
of the Contract is regarded as being invalid by any authority with jurisdiction, the validity of other articles of the Contract shall remain unaffected. 
  

	10.7	Amendments and Supplements 

 For
issues not covered in the Contract, the parties shall enter into written contract to make amendment or supplement to the Contract Amendments or supplements to the Contract signed and chopped by both parties shall be integral parts of the Contract,
and once approved by the Examination and Approval Authority, shall have equal force with the Contract. 
  

	10.8	Exercise of Rights 

 Failure to
or delay in exercising any of the rights hereunder by any party to the Contract shall not be regarded as waiving the same. The exercise of a right by itself or in part does not preclude the exercise of the same otherwise. Waiver of the right to
pursue any breach of contract shall be effective only if it is made in writing and signed and affixed with official seal by individuals of Party A and the legal representative or authorized representative of Party B. 
  

	10.9	Assignment of Rights and Obligations 

 Unless otherwise agreed upon in the Contract, neither party shall be allowed to assign the Contract or its rights and obligations hereunder in whole or in part, unless it obtains prior consent in writing from the other Party and such
assignment has obtained approval from the Examination and Approval Authority as required by PRC laws. 
  

	10.10	Employee Settlement 

 Both
Parties hereby agree that no such issue as employee settlement is involved in the Target Share Transfer. 

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	10.11	Notice and Delivery 

 Unless
otherwise agreed upon in the Contract, any party’s notice or written communication to the other party shall be written in Chinese, and shall be delivered by hand-delivery, fax or courier. Unless otherwise informed of the change of address, all
notice and written communication shall be delivered to the following addresses: 
 Party A: Yang Ming and other 15 individual
shareholders 
 Address: 2nd Floor, Beida Jade Bird Building, No. 207 Chengfu Road, Haidian District, Beijing 100871 
 Telephone: 0086-010-62768866 
 Fax: 0086-010-62768866 
 Attention: Yang Ming 
 Party B: Prosperity Holdings Limited 
  

			
	Address:	 	Crescent Point Group
		 	One George Street, #15-04
		 	Singapore 049145

 Telephone: 0065-6511-3088 
 Fax: 0065-6223-5992 
 Attention: James Wong 
 The notice or written communication shall be deemed being received on the following dates:

  

	 	(1)	in case of fax and hand-delivery, the date of receipt shall be the date of delivery; 

  

	 	(2)	in case of express mail service, the date of delivery shall be the third day after the notice has been handed over to the express company; or 

 

	 	(3)	in case of courier, the date on the receipt confirmation, or the date of handing over to the courier company. 

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 IN WITNESS WHEREOF, Individuals of Party A signed and Party B have caused their
authorized representatives to sign the Contract on the date first written above. 
  

			
	Party A1: Yang Ming
		
	Signature:	 	

	
	Party A2: Tang Chengxi
		
	Signature:	 	

	
	Party A3: Liang Jun
		
	Signature:	 	

	
	Party A4: Sun Quntian
		
	Signature:	 	

	
	Party A5: Lu Jun
		
	Signature:	 	

	
	Party A6: XiaoRui
		
	Signature:	 	

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	Party A7: Gao Wei
		
	Signature:	 	

	
	Party A8: Lin Ping
		
	Signature:	 	

  

			
	Party A9: Guo Nannan
		
	Signature:	 	

	
	Party A10: He Wenrui
		
	Signature:	 	

	
	Party A11: Zhang Hong
		
	Signature:	 	

	
	Party A12: Yu Lina
		
	Signature:	 	

	
	Party A13: Xiao Qiqin
		
	Signature:	 	

	
	Party A14: Li Xiangyang
		
	Signature:	 	

 Execution Copy 
  
  

			
	
	Party A15: Wang Yang
		
	Signature:	 	

	
	Party A16: Zhang Ming
		
	Signature:	 	

  

			
	Party B: Prosperity Holdings Limited
		
	Authorized representative:	 	

 Letter of Disclosure 
 This Letter of Disclosure is prepared for the share transfer between the individual shareholders of Beijing Jade Bird Educational Information Technology Co., Ltd. (the “Company”) and Prosperity
Holdings Limited, and shall be used as an appendix to the Share Transfer Contract entered into by and between Prosperity Holdings Limited and the individual shareholders of the Company. The sequence numbers and contents of this Letter of Disclosure
shall correspond to those specified in the Share Transfer Contract. 
 To facilitate comprehension, the disclosures made hereinafter are
summaries of the corresponding documents, which shall not be regarded as a complete and accurate description of the same. The contents of the original documents shall prevail. 
 5.1 (3) 
 Certificates and licenses held by the Company are as follows: 
  

	(1)	Enterprise Legal Person Business License (No. 1100001649252) issued by the Beijing Administration for Industry and Commerce on Jul. 18, 2006; 

 

	(2)	Certificate of Tax Registration (No. Jing Guo Shui Hai Zi 110108759640097) issued by State Tax Bureau of Haidian District of Beijing on Apr. 9, 2004;

  

	(3)	Certificate of Tax Registration (No. Di Shui Jing Zi 110108759640097000) issued by Local Tax Bureau of Haidian District of Beijing on Apr. 2, 2004;

  

	(4)	Certificate of Organizational Entity Code (Code No. 75964009-7) with a period of validity commencing from Mar. 5, 2004 and ending on Mar. 2, 2008;

  

	(5)	Permit for Running No-government Schools (No. Lao She Min 1106054072000) issued by Labor and Social Security Bureau of Haidian District of Beijing in July of
2005, where the name of the unit is Beijing Municipality Haidian District Jade Bird Information and Technology Vocational Skills Training School; the period of validity of this Certificate is four years commencing from the issuance date;

  

	(6)	Certificate of High and New Technology Enterprise (No. Jing Ke Gao Zi 0611008A17059) issued by Beijing Science and Technology Committee on May 28, 2006;

  

	(7)	Registration Certificate of Social Insurance (No. She Xian Jing Zi 110108627888) issued by the Social Insurance Fund Administration Center of Haidian District of
Beijing on Mar. 17, 2005; 

	(8)	Tianjin Brach of the Company holds: 

  

	 	a.	Business License (No. 1201041010135) issued by Tianjing Administration for Industry and Commerce on Mar. 23, 2005; 

  

	 	b.	Certificate of Organizational Entity Code (Code No. 77064779-1) issued by Tianjin Administration Bureau for Quality Supervision and Inspection and Quarantine with
a period of validity from May 12, 2005 to Apr. 11, 2009; 

  

	 	c.	Certificate of Tax Registration (No. Guo Shui Jin Zi 120104770647791) issued by State Tax Bureau of Tianjing Development District on Apr. 22, 2005;

  

	 	d.	Certificate of Tax Registration (No. Di Shui Jin Zi 120104770647791) issued by Local Tax Bureau of Tianjing Development District on Apr. 30, 2005;

  

	 	e.	Permit for Running Non-government Schools in People’s Republic of China (No. Lao She Min 1201044000310) issued by Tianjin Labor and Social Security Bureau,
where name of the unit is Tianjin Beida Jade Bird Vocational Training School, the validity period of which is three years; 

  

	 	f.	Private non-Enterprise Institution Registration Form (Legal Person Status) (No. Min Zheng Zi Di 060610) issued by Tianjin Administration for Social Organizations
on Jul. 7, 2005, where name of the unit is Tianjin Beida Jade Bird Vocational Training School. 

  

	(9)	Chongqing Branch of the Company holds: 

  

	 	a.	Business License (No. Yu Gao 5009011901215) issued by Chongqing Administration for Industry and Commerce on Mar. 16, 2005; 

  

	 	b.	Certificate of Tax Registration (No. Guo Shui Yu Zi 50090377177299) issued by Chongqing High and New Technology Industry Development District State tax Bureau on
Apr. 11, 2005; 

  

	 	c.	Certificate of Tax Registration (No. Di Shui Zi 50090377177299) issued by Chongqing High and New Technology Industry Development District Local Tax Bureau on
Apr. 5, 2005; 

  

	 	d.	Certificate of Organizational Entity Code (Code No. 77177729 — 9) issued by Chongqing Quality and Technical Supervision Bureau with a validity period from
Apr. 7, 2005 to Apr. 7, 2009; 

  

	 	e.	Permit for Running Non-government Schools (No. Lao She Min 5000003000130) issued by Chongqing Labor and Social Security Bureau on Jul. 25, 2005.

  

	(10)	Guangzhou Branch of the Company holds: 

  

	 	a.	Business License (No. Fen 4401062029325) issued by Guangzhou Administration for Industry and Commerce on Sep. 28, 2005; 

	 	b.	Certificate of Organizational Entity Code (Code No. 78122360-1) issued by Guangzhou Quality and Technical Supervision Bureau with a validity period from Nov. 15,
2005 to Nov. 15, 2009; 

  

	 	c.	Certificate of Tax Registration (No. Guo Shui Yue Zi 440100781223601) issued by Gaongzhou State Tax Bureau on Mar. 1, 2006; 

 

	 	d.	Certificate of Tax Registration (No. Di Shui Yue Zi 440100781223601) issued by Gaongzhou Local Tax Bureau on Mar. 1, 2006; 

 Permit for Running Non-government Schools of Guangdong Branch is still in the process of application. 
  

	(11)	Xicheng Branch of the Company holds: 

  

	 	a.	Business License (No. 1101021828847) issued by Beijing Administration for Industry and Commerce on Apr. 22, 2005; 

  

	 	b.	Certificate of Tax Registration (No. Di Shui Jing Zi 110102774724301000) issued by Beijing Xicheng District Local Tax Bureau on May 20, 2005;

  

	 	c.	Certificate of Organizational Entity Code (Code No. 77472430-1) issued by Beijing Xicheng District Quality and Technical Supervision Bureau, which expires on
May 12, 2009; 

 Certificate of State Tax Registration and Permit for Running Non-government Schools of
Xicheng Branch are still in the process of application. 
  

	(12)	Shanghai Branch of the Company Holds: 

  

	 	a.	Business License (No. 31010810198119000) issued by Shanghai Administration for Industry and Commerce, Zhabei Branch on Apr. 10, 2006; 

  

	 	b.	Certificate of Organizational Entity Code (Code No. 77710623-4) issued by Shanghai Quality and Technical Supervision Bureau, which expires on Jun. 27, 2009;

  

	 	c.	Certificate of Tax Registration (No. Guo Shui Hu Zi 310108777106234) issued by Shanghai State Tax Bureau on Jul. 10, 2005; 

  

	 	d.	Certificate of Tax Registration (No. Di Shui Hu Zi 310108777106234) issued by Shanghai Local Tax Bureau on Jul. 12, 2005; 

 Permit for Running Non-government Schools of Shanghai Branch is still in the process of application. 
  

	(13)	Hangzhou Branch of the Company holds: 

  

	 	a.	Business License (No. 3301001007242) issued by Hangzhou Administration for Industry and Commerce on Aug. 17, 2005; 

	 	b.	Certificate of Tax Registration (No. Zhe Shui Zi Hang 330100779254281) jointly issued by Hangzhou State Tax Bureau and Local Tax Bureau on Sep. 1, 2005;

  

	 	c.	Certificate of Organizational Entity Code (Code No. 77925428-1) issued by Hangzhou Quality and Technical Supervision Bureau, which expires on Aug. 25, 2009;

 Permit for Running Non-government Schools of Hangzhou Branch is still in the process of application.

 Certificates and licenses held by subsidiaries of the Company are as follows: 
  

	(14)	APTECH Beida Jade Bird Co., Ltd holds: 

  

	 	a.	Enterprise Legal Person Business License (No. Qi He Jing Zong Zi Di 014196) issued by Beijing Administration for Industry and Commerce on Sep. 21, 2005;

  

	 	b.	Certificate of Approval for Establishment of Enterprises with Foreign Investment in the PRC (No. Shang Wai Zi Jing Zi [1999]0390) issued by Beijing Municipal
People’s Government on Sep. 20, 2005; 

  

	 	c.	Certificate of Organizational Entity Code (Code No. 71774043-6) issued by Beijing Quality and Technical Supervision Bureau; 

  

	 	d.	Certificate of Foreign Exchange Registration (No. 1999000000349) issued by SAFE, Bejing Administration Department; 

  

	 	e.	Registration Certificate of Social Insurance (No. She Xian Jing Zi 110108627888) issued by the Social Insurance Fund Administration Center of Haidian District of
Beijing on Mar. 17, 2005; 

  

	 	f.	Certificate of High and New Technology Enterprise (No. Jing Ke Gao Zi 0611008A16793) issued by Beijing Science and Technology Committee on Jun. 8, 2006;

  

	(15)	Yantai Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3706022810169) issued by Yantai Administration for Industry and Commerce, Zhifu Branch on Feb. 27, 2006;

  

	 	b.	Certificate of Tax Registration (No. Lu Di Shui Zi 370602785029750) issued by Yantai Zhifu District Local Tax Bureau on Feb. 22, 2006; 

 

	 	c.	Certificate of Tax Registration (No. Guo Shui Lu Zi 370602785029750) issued by Yantai Zhifu District State Tax Bureau on Mar. 6, 2006; 

 

	 	d.	Certificate of Organizational Entity Code (Code No. 78502975-0) issued by Yantian Quality and Technical Supervision Bureau; 

 Permit for Running Non-government Schools of Yantai Jade Bird Educational Information Technology Co., Ltd is still in the process of application.

	(16)	Dalian Xinghai Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. Da Gong Shang Qi Fa Zi 2102001107858) issued by Dalian Administration for Industry and Commerce on Mar. 15, 2006;

  

	 	b.	Certificate of Tax Registration (Da Guo, Di Shui Sha Zi 210204759945325) jointly issued by Dalian Municipal State Tax Bureau and Local Tax Bureau of Liangning
Province; 

  

	 	c.	Certificate of Organizational Entity Code (Code No. 75994532-5) issued by Dalian Municipal Quality and Technical Supervision Bureau; 

  

	 	d.	Permit for Running Non-government School (No. Lao She Min 2102013000296) issued by Dalian Municipal Labor and Social Security Bureau, where name of the unit is
Dalian Xinghai Beida Jade Bird Vocational Training School, the validity period of which is three years; 

  

	(17)	Zhenjiang Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3211001103466) issued by Zhenjiang Administration for Industry and Commerce of Jiangsu Province on Mar. 9, 2006;

  

	 	b.	Certificate of Tax Registration (No. Su Guo Shui Zhen Zi 321100784958494) issued by Zhenjiang Municipal State Tax Bureau of Jiangsu Province on Mar. 9, 2006;

  

	 	c.	Certificate of Tax Registration (No. Su Di Shui Deng Zi 321100784958494) issued by Zhenjiang Municipal Local Tax Bureau of Jiangsu Province on Mar. 9, 2006;

  

	 	d.	Certificate of Organizational Entity Code (Code No. 78495849-4) issued by Zhenjiang Quality and Technical Supervision Bureau of Jiangsu Province;

  

	 	e.	Permit for Running Non-government Schools (No. Lao She Min 211004000011) issued by Zhenjiang Municipal Labor and Social Security Bureau on September 7,
2006, where name of the unit is Zhenjiang Beida Jade Bird APTECH Vocational Training School, the validity period of which is five years. 

  

	(18)	Chengdu Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 5101041902301) issued by Chengdu Municipal Jinjiang Administration for Industry and Commerce on Mar. 12, 2006;

  

	 	b.	Certificate of Tax Registration (No. Chuan Guo Shui Zi 510104785429543) issued by State Tax Bureau of Jinjiang District, Chengdu of Sichuan Province on
March 24, 2006; 

	 	c.	Certificate of Tax Registration (No. Chuan Rong 51010478542954-3) issued by the first branch of Local Tax Bureau of Chengdu of Sichuan Province on March 24,
2006; 

  

	 	d.	Certificate of Organizational Entity Code (Code No. 78542954-3) issued by Chengdu Municipal Quality and Technical Supervision Bureau, Zhenjiang Branch;

  

	 	e.	Permit for Running Non-government Schools (No. Lao She Min 2255A05540147) issued by Chengdu Municipal Labor and Social Security Bureau on July 13, 2006,
where name of the unit is Chengdu Jade Bird Information and Technology School, the validity period of which is two years. 

  

	(19)	Shenzhen Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 4403011223302) issued by Shengzhen Municipal Administration for Industry and Commerce on Apr. 25, 2006;

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78832483-5) issued by Shenzhen Municipal Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. Guo Shui Shen Zi 440301788324835) issued by Shenzhen Municipal State Tax Bureau; 

  

	 	d.	Certificate of Tax Registration (No. Shen Di Shui Deng Zi 440301788324835) issued by Shenzhen Municipal Local Tax Bureau; 

 Permit for Running Non-government School of Shenzhen Jade Bird Educational Information Technology Co., Ltd. is still in the process of application.

  

	(20)	Nantong Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3206001108585) issued by Nantong Administration for Industry and Commerce of Jiangsu Province on Feb. 21, 2006;

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78438804-9) issued by Jiangsu Provincial Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. Su Di Shui Deng Zi 320601784388049) jointly issued by Nantong Municipal State Tax Bureau, the First Branch and Nantong
Municipal Local Tax Registration, the Second Branch on Feb. 21, 2006; 

  

	 	d.	Permit for Running Non-government Schools (No. Jiao Min 3206027ZX0020) issued by the Education and Sports Bureau of Chongzhou District, Nantong Municipal on
September 16, 2006, where name of the unit is Naotong Chongzhou Beida Jade Bird Computer Training Center, the validity period of which is one year. 

	(21)	Hefei Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3401001007212) with an issuance date of Feb. 27, 2006; 

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78493005-3) issued by Heifei Municipal Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. He Guo Yaohai Guo Shui Zi 340102784930053) issued by Yaohai District State Tax Bureau, Hefei of Anhui Province on Mar. 7,
2006; 

  

	 	d.	Certificate of Tax Registration (No. Di Shui He Zi 340102784930053) issued by Yaohai District Local Tax Bureau, Hefei of Anhui Province on Mar. 7, 2006;

  

	 	e.	Permit for Running Non-government School (No. Lao She Min 3401003100655) issued by Hefei Municipal Labor and Security Bureau on Apr. 17, 2006, where name of the unit is
Hefei Jade Bird Vocational Training School, the validity period of which is three. 

  

	(22)	Shenyang Jade Bird Educational Information Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 2101031150104) issued by Shenyang Municipal Administration for Industry and Commerce on Feb. 14, 2006;

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78455670-0) issued by Shenyang Municipal Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. Shen Di Shui Zi Shen He Branch 210103784556700) issued by Shenyang Municipal Local Tax Bureau on Mar. 2, 2006;

  

	 	d.	Certificate of Tax Registration (No. Shen He Guo Shui Zi 210103784556700) issued by Shenyang Municipal State Tax Bureau on Mar. 2, 2006;

  

	 	e.	Permit for Running Non-government School (No. Lao She Min 2101017220315) issued by Shenyang Municipal Education Bureau on Jun. 2, 2006, where name of the unit is
Shenyang BENET Computer Training Center, which expires on Jun. 1, 2008. 

  

	(23)	Qingdao Jade Bird IT Information Co., Ltd. Holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3702022919318) issued by Qingdao Municipal Administration for Industry and Commerce, Shinan Branch on May 31, 2006;

	 	b.	Certificate of Organizational Entity Code (Code No. 78759823-6) issued by Qingdao Municipal Quality and Technical Supervision Bureau; 

  

	 	c.	Certificate of Tax Registration (No. 370202787598236) jointly issued by Shandong Qingdao Municipal State Tax Bureau and Local Tax Bureau on Jul. 7, 2006;

  

	 	d.	Permit for Running Non-government School (No. Lao She Min 10201510) issued by Qingdao Municipal Labor and Security Bureau on September 6, 2006, where name
of the unit is Qingdao Beida Jade Bird Vocational Training School. 

  

	(24)	Xiamen Jade Bird IT Information Co., Ltd. Holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3502031101135) issued by Xiamen Municipal Administration for Industry and Commerce on Jun. 5, 2006;

  

	 	b.	Certificate of Tax Registration (No. Xia Guo Shui Si Zi 350203784187335) issued by Xiamen Municipal State Tax Bureau on Jun. 20, 2006; 

 

	 	c.	Certificate of Tax Registration (No. Xia Di Shui Zheng Zi 350203784187335) issued by Xiamen Municipal State Tax Bureau on Jun. 16, 2006;

  

	 	d.	Certificate of Organizational Entity Code (Code No. 78418733-5) issued by Xiamen Municipal Quality and Technical Supervision Bureau; 

  

	 	e.	Permit for Running Non-government School (No. Lao She Min 3502036206005) issued by Xiamen Municipal Labor and Security Bureau on September 12, 2006, where
name of the unit is Xiamen Zhongshan Beida Jade Bird Vocational Training School, the validity period of which is three years. 

  

	(25)	Kunming Gold Bird Educational Information Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 5301002521909) issued by Yunnan Kunming Municipal Administration for Industry and Commerce on May 15, 2005;

  

	 	b.	Certificate of Organizational Entity Code (Code No. 78737422-4) issued by Yunnan Kunming Municipal Quality and Technical Supervision Bureau;

  

	 	c.	Certificate of Tax Registration (No. Dian Di Shui Kun Zi 530102787374224) issued by Kunming Wuhua District Local Tax Bureau on may 24, 2006;

  

	 	d.	Certificate of Tax Registration (No. Dian Guo Shui Zi 530102787374224) issued by Kunming Wuhua District State Tax Bureau on may 25, 2006;

 Permit for Running Non-government School of Kunming Gold Bird Educational Information Co., Ltd. is still in
the process of application. 
  

	(26)	Yangzhou Beida Jade Bird Information and Technology Co., Ltd. holds: 

  

	 	a.	Enterprise Legal Person Business License (No. 3210911400385) issued by Jiangsu Yangzhou Municipal Administration for Industry and Commerce on Jun. 7, 2006;

  

	 	b.	Certificate of Tax Registration (No. Zu Di Shui Deng Zi 321001787679896) issued by Yangzhou Municipal Local Tax Bureau on Jun. 14, 2006;

  

	 	c.	Certificate of Organizational Entity Code (Code No. 8767989-6) issued by JiangsuYangzhou Municipal Quality and Technical Supervision Bureau;

 Certificate of State Tax Registration and Permit for Running Non-governments School are still in the process of application.

  

	(27)	Fuzhou Jade Bird Information and Technology Co., Ltd. holds: 

  

	 	a)	Enterprise Legal Person Business License (No. 3501002028311) issued by Fuzhou Municipal Administration for Industry and Commerce on July 28, 2006;

  

	 	b)	Certificate of Tax Registration (No. Rong Shui Zi 350100791763695) jointly issued by the State Tax Bureau and Local Tax Bureau of Gulou District, Fuzhou
Municipal on April 15, 2006; 

  

	 	c)	Certificate of Organization Entity Code (Code No. 79176369-5) issued by Fuzhou Municipal Quality and Technical Supervision Bureau; 

  

	 	d)	Permit for Running Non-government School (No. Lao She Min 3501016206004) issued by Fuzhou Municipal Education Bureau on September 15, 2006, where name of
the unit is Fuzhou Beida Jade Bird Vocational Training School, which expires on September 15, 2009. 

  

	(28)	Hangzhou Jade Bird Educational Information and Technology Co., Ltd. holds: 

  

	 	a)	Enterprise Legal Person Business License (No. 3301001007845) issued by Hangzhou Municipal Administration for Industry and Commerce on April 11, 2006;

  

	 	b)	Certificate of Tax Registration (No. Zhe Shui Lian Zi 330100790940397) jointly issued by the State Tax Bureau and Local Tax Bureau of Zhejiang Province on
October 10, 2006; 

	 	c)	Certificate of Organization Entity Code (Code No. 79094039-7) issued by Hangzhou Municipal Quality and Technical Supervision Bureau. 

 Permit for Running Non-government School of Hangzhou Jade Bird Educational Information and Technology Co., Ltd. is still in the process of application.

  

	(29)	Shanghai Qingda Computer Technology Co., Ltd. holds: 

  

	 	a)	Enterprise Legal Person Business License (No. 3101151020246) issued by the Pudong Branch of Shanghai Municipal Administration for Industry and Commerce on July 13,
2006; 

  

	 	b)	Certificate of Tax Registration (No. Di Shui Hu Zi 310115791428600) issued by the Shanghai Municipal Local Tax Bureau on April 7, 2006;

  

	 	c)	Certificate of Organization Entity Code (Code No. 79142860-0) issued by Shanghai Municipal Quality and Technical Supervision Bureau. 

 Permit for Running Non-government School of Shanghai Qingda Computer Technology Co., Ltd. is still in the process of application. 
 5.1(4) 
  

	(1)	In connection with Capital Contribution Agreement and Articles of Association of the Company, Beijing Beida Jade Bird Co., Ltd (the “BDH”) and Yang Ming
entered into the Supplementary Agreement on Dec. 1, 2003; 

  

	(2)	Beijing Peking University Education Investment Co., Ltd (the “PUEI”), BDH and Yang Ming entered into the Special Agreement in 2006. 

5.1(9) 
 Unaudited Balance Sheet of the
Company up to the date of Jun. 30, 2006. 
 5.1(10) 
 Arbitration and litigation situation of the Company: 
  

	(1)	Two arbitration case between Beijing APTECH Jade Bird Co., Ltd (“Beijing APTECH”) and Beijing Huayu Net Technology Development Co., Ltd. (“Huayu
Net”) 

 On Sep. 21, 2005, Beijing Arbitration Committee rendered arbitral awards of No. (2005) Jing
Zhong Cai Zi Di 0693 and No. 0694, which Huayu Net refused to execute. In Nov. of 2005, Beijing APTECH applied to the People’s Court of Beijing

 
Daxing District, where Huayu Net was located, for the enforcement of the arbitral awards. Execution Division of the Daxing Court froze Huayu Net’s account, where there is cash of about RMB
140,000 in it, at Ever Bright Bank on Mar. 30, 2006. Huayu Net has handed over education discs and other articles to the Court, and the cash mentioned above has been transferred to the Court’s bank account. In addition, Huayu Net warranted that
it would pay part of the money under the enforcement before Jul. 12, 2006. As of the date of this Disclosure, Huayu Net has paid RMB 239,297 Yuan for enforcement. 
  

	(2)	One arbitration case between Beijing APTECH and Beijing Huayu Tiandi International Education Co., Ltd. 

 On Jun. 1, 2006, Beijing Arbitration Cornmittee made a decision of No. (2006) Jing Zhong Che Zi Di 0163. 
  

	(3)	Three arbitration cases between Beijing APTECH and Huayu Net 

 On Jul. 1, 2006, Beijing Arbitration Committee rendered arbitral awards of No. (2006) Jing Zhong Cai Zi Di 0615, 0538, 0537. 
  

	(4)	Lawsuit between Beijing APTECH and Qingdao Huayu Tiandi Information Technology Co., Ltd., Qingdao Huyu Information Management Training School (under preparation), Huayu
Net 

 Qingdao Municipal Intermediate People’s Court of Shandong Province made a judgment numbered
(2005) Qing Min San Chu Zi Di 503 on Oct. 24, 2005. 
 Beijing APTECH has appealed the judgment to Higher
People’s Court, and no judgment of the Court in respect thereof has been made. 
 Administrative penalties that the Company are involved
in: 
  

									
	Company	  	Causes	  	Year	  	 Amount of the Penalty (unit:
 thousand)
	  	Notes
	Beijing APTECH	  	Taxes	  	2005	  	5.48648	  	None
	 Dalian Xinghai Jade
 Bird Educational
 Information
 Technology Co., Ltd.
	  	Advertisement	  	2006	  	40	  	None
	 Yantai Jade Bird
 Educational
 Information
 Technology Co., Ltd.
	  	 Penalty made by
 the company
 registry
	  	2006	  	5	  	None
	The Company	  	Fire Inspection	  	2004	  	1	  	None
	 Xicheng Branch of
 the Company
	  	 Administrative
 penalty
	  	2006	  	3	  	 Caused by the
 misfeasance of
 an employee,
 who is solely
 liable for such
 penalty.

 5.1 (11) 
  

	(1)	Preferential Income Taxes: on Jul. 24, 2007, Haidian District Sate Tax Bureau of Beijing issued the Approval for Application of Beijing APTECH Jade Bird Co., Ltd. for
Enjoying Income Tax Reduction and Exemption as a High and New Technology Enterprise (No. Hai Huo Shui Man Mian Wai [2002] 4090); 

  

	(2)	Tax disposition order or tax administrative penalty decision: on Sep. 16, 2005, Tax Inspection Division of Handian District Local Tax Bureau of Beijing issued a Tax
Disposition Order (No. Hai Di Shui Chu Li [2005] 230); on Sep. 16, 2005, Tax Inspection Division of Handian District Local Tax Bureau of Beijing issued a Tax Administrative Penalty Decision (No. Hai Di Shui Chu Fa [2005] 147).

 5.1 (13) 
  

	(1)	List of Franchise Contracts 

 ACCP 

 

					
	No.	  	Name of Companies	  	Term of Contracts
	 1.
	  	Changsha Niuer Information Technology Co., Ltd.	  	18/05/2001-17/05/2010
	 2.
	  	Changsha Wodun Software Education Centre	  	08/08/2004-08/07/2008
	 3.
	  	Changsha Feixun Information Technology Co., Ltd.	  	20/06/2006-19/06/2011
	 4.
	  	Zhuzhou Aote Science and Technology Electronic Products Co., Ltd	  	18/11/2002-17/11/2006
	 5.
	  	Ziangtan Jinbeifan Education Group	  	30/07/2003-29/07/2007
	 6.
	  	APTECH Beida Jade Bird Chenzhou Ketai Franchise Training Centre	  	31/l2/2003-30/12/2007
	 7.
	  	Hengyang Nanfang Software Training School	  	16/09/2004-16/09/2008
	 8.
	  	Yueyang Haina Software Education Training School	  	12/07/2004-12/07/2008
	 9.
	  	Changde Zhicheng Software Training Centre	  	29/12/2005-28/11/2010
	 10.
	  	Shaoyang Yixing Technology School	  	24/06/2004-23/06/2011
	 11.
	  	Guangdong Guangli Technology Co., Ltd.	  	08/07/2001-07/07/2010

					
	 12.
	  	Guangzhou Keyuan Computer Information Technology Co., Ltd.	  	01/03/2005-28/02/2010
	 13.
	  	Shenzhen Xinshi Technoloy Development Co., Ltd.	  	09/07/2005-08/07/2010
	 14.
	  	Shenzhen Nanshan District Zhongqing Information Technology Vocational Training Centre	  	09/07/2005-08/07/2009
	 	  	Shenzhen Qihao Technology Co., Ltd.	  	22/01/2006-21/01/2011
	 15.
	  	Shenzhen Luohu Kunpeng Vocational Training Center	  	22/01/2006-21/01/2011
	 16.
	  	Shenzhen Jiahu Information and Technology Co., Ltd.	  	08/09/2006-07/09/2006
	 17.
	  	Zhuhai Qiancheng Vocational Training School	  	23/05/2001-22/05/2010
	 18.
	  	Shantou Xinghe Computer Information Technology Co., Ltd.	  	30/11/2002-30/11/2006
	 19.
	  	Guangdong TeleCom Industry Croup Huizhou Co., Ltd	  	20/07/2003-19/07/2007
	 20.
	  	Zhongshan Zhongnan SoftwareVocational Training School	  	18/06/2004-17/06/2008
	 21.
	  	Wuhan Ruijie Information Management Co., Ltd	  	20/08/2001-19/08/2010
	 22.
	  	Wuhan Renjie Information Training Centre	  	26/08/2001-25/08/2010
	 23.
	  	Wuhan Saide Information Technology Co., Ltd.	  	18/07/2004-18/07/2008
	 24.
	  	Wuhan Chuangmei Information Technology Development Co., Ltd.	  	20/02/2005-19/02/2009
	 25.
	  	Wuhan Hongpeng Information Technology Co., Ltd.	  	24/06/2006-23/06/2011
	 26.
	  	Yichang Sirui Computer Vocational Skill Training School	  	01/09/2003-31/08/2007
	 27.
	  	Wuhan Huateng information Technology Co., Ltd.	  	08/08/2005-31/08/2009
	 28.
	  	Jingzhou Beiruan Information Technology Co., Ltd.	  	18/04/2006-17/04/2011
	 29.
	  	Suizhou Shike Technology Training School	  	09/11/2006-19/08/2006
	 30.
	  	Chongqing Zuxia Science and Technology Co., Ltd.	  	20/08/2005-19/08/2009
	 31.
	  	Sichuan West Celebrity Chamber Co., Ltd.	  	31/12/2001-30/12/2010
	 	  	Sichuan Shidai College	  	 
	 32.
	  	Chengdu Jinchen Software Training Centre	  	01/08/2005-31/07/2009
	 33.
	  	Sichuan Shidai College	  	13/06/2006-12/06/2011

					
	 34.
	  	Kunming Dingdian Information Technology Co., Ltd.	  	30/01/2003-29/01/2007
	 35.
	  	Nanning Zhuangyuanlang Vocational Training School	  	16/03/2005-15/03/2009
	 36.
	  	Liuzhou Longteng Vocational Training School	  	01/01/2006-31/12/2010
	 37.
	  	Guizhou Tianji Computer Vocational Skill Training School	  	26/08/2005-25/08/2009
	 38.
	  	Fuzhou Santuo Computer Co., Ltd	  	10/04/2003-31/12/2006
	 39.
	  	Fuzhou Lide Vocational Training School	  	31/01/2003-30/01/2007
	 40.
	  	Xiamen Bangchu Information Technology Co., Ltd.	  	24/08/2001-23/11/2010
	 41.
	  	Shanghai Amateurism Science and Technology College	  	09/01/2002-08/01/2011
	 42.
	  	Shanghai Qinghui Education Software Science and Technology Co., Ltd.	  	26/07/2004-25/07/2008
	 43.
	  	Shanghai Fuxin Information Technology Co., Ltd.	  	05/07/2006-04/07/2011
	 44.
	  	Shanghai Yueno Information and Technology Co., Ltd.	  	09/08/2006-08/08/2011
	 45.
	  	Nanjing Pulei Information Training School	  	21/09/2001-20/02/2011
	 46.
	  	Nanjing Xietong Computer Information Net Co., Ltd.	  	18/10/2003-17/10/2007
	 47.
	  	Nanjing Jingcheng Information Technology Co., Ltd.	  	10/01/2006-09/01/2010
	 48.
	  	Wuxi Jade Bird Computer Education Co., Ltd.	  	21/06/2006-20/06/2011
	 49.
	  	Wuxi New District Ousuo Software Co., Ltd.	  	18/07/2001-17/07/2010
	 50.
	  	Suzhou Computer Personnel Training Center	  	15/10/2001-14/10/2010
	 51.
	  	Nantong Science and Technology Personnel Training College	  	20/10/2001-19/11/2010
	 52.
	  	Changzhou Qinruan Information Technology Co., Ltd.	  	18/10/2002-17/10/2006
	 53.
	  	Xuzhou Zhongbo Software Co., Ltd	  	26/02/2003-25/02/2007
	 54.
	  	Xuzhou Xinglin Information Technology Co., Ltd.	  	22/08/2005-21/08/2009
	 55.
	  	Jiangxi Feichuang Education Co., Ltd.	  	15/02/2003-16/02/2007
	 56.
	  	Hebei Xinlong Information Technology Vocational Training School	  	01/04/2002-31/03/2011
	 57.
	  	Beijing Xinbeigao Education Science and Technology Co., Ltd	  	26/09/2002-25/09/2006
	 58.
	  	Tangdhang Hongji Vocational Training School	  	01/03/2004-28/02/2008
	 59.
	  	Qinhuangdao Shengbang Vocational Training School	  	07/04/2004-06/04/2008

					
	 60.
	  	Handan Aoxiang Information Technology Co., Ltd.	  	08/03/2006-07/03/2011
	 61.
	  	Zhengzhou Jinshui District Huiwen Education Training School	  	25/05/2002-24/05/2006
	 62.
	  	Henan Huarui Information Technology Co., Ltd.	  	09/06/2006-08/06/2011
	 63.
	  	Tianjin Jietong Century Net Science and Technology Co., Ltd	  	08/03/2006-07/03/2011
	 64.
	  	Tianjin Lanbaijin Computer Education Co., Ltd.	  	12/07/2001-11/07/2010
	 65.
	  	Beijing Chaoyang District Zhaoyang Software Education Training School	  	18/05/2006-17/05/2011
	 66.
	  	Jinan Gaoxin Shichuang Software Engineering Co., Ltd	  	16/10/2001-15/10/2010
	 67.
	  	Qingdao Zhongxin Science and Technology Specialization School	  	01/07/2003 -01/07/2007
	 68.
	  	Xi’an Zhaolong Computer Training Center	  	10/08/2003-09/08/2007
	 69.
	  	Xi’an Yanta Dstrict APTECH Jade Bird Bicheng Franchise Training School	  	01/01/2003-31/12/2006
	 70.
	  	Taiyuan Yilong Science and Technology Development Co., Ltd.	  	18/02/2003-17/02/2007
	 71.
	  	Gansu Siwei Education Software Co., Ltd	  	15/10/2001-14/10/2010
	 72.
	  	Harbin Nangang District Compass Computer Training School	  	18/08/2003-17/08/2007
	 73.
	  	Daqing Beida Jade Bird APTECH Computer Training School	  	18/08/2003-17/08/2007
	 74.
	  	Chuangchun Dongrun Science and Trade Co., Ltd.	  	18/09/2001-17/09/2010
	 75.
	  	Jilin Zhiben Dongli Computer Information Technology Co., Ltd.	  	19/06/2002-18/06/2006
	 76.
	  	Shenyang Kaitian Information Technology Training Center	  	20/03/2002-20/03/2011
	 77.
	  	Chaoyang Tianlu Information and Technology Service Co., Ltd.	  	27/09/2006-26/09/2011
	 78.
	  	Beijing Jiayin Flagship Science and Technology	  	26/12/2003-25/12/2007
	 79.
	  	Beijing Zhaoyang Technology Training Center	  	19/06/2006-18/06/2011

					
	 80.
	  	Beijing Chaoyang Zhaoyang Software Education and Training School	  	 
	 81.
	  	Beijing Peking University Education Investment Co., Ltd.	  	28/02/2004-27/02/2008
	 82.
	  	Beijing Tangcheng Information Technology Co., Ltd.	  	19/03/2005-18/03/2009
	 83.
	  	Beijing Tiancan Information Technology Co., Ltd.	  	18/02/2005-17/02/2009
	 84.
	  	Beijing Hexin Yongxin Software Service Co., Ltd.	  	03/04/2005-02/04/2009
	 85.
	  	Beijing Beijing Yuanfan Information Technology Co., Ltd.	  	29/06/2005-28/06/2009
	 86.
	  	Inner Mongolia Zhongshan Software Specialization College	  	01/12/2002-30/11/2006
	 87.
	  	Urumchi Yingjie Computer Training School	  	19/02/2005-18/02/2009

 BENET 
  

					
	No.	  	Name of Companies	  	Validity Period
	 1.
	  	Zhuhai Qiancheng Vocational Training School	  	01/07/2004-30/06/2009
	 2.
	  	Guangzhou Meicheng Education Information Co., Ltd.	  	10/11/2004-10/11/2009
	 3.
	  	Guangzhou Xiangji Lide Science and Technology Co., Ltd.	  	06/11/2005-05/11/2010
	 4.
	  	Shenzhen Xinshi Science and Technology Development Co., Ltd.	  	01/05/2004-01/05/2009
	 5.
	  	Shenzhen Nanshan District Zhongqing Information Technology Vocational Training Co., Ltd.	  	08/02/2006-07/02/2011
	 6.
	  	Shenzhen Jiahua Information Technology Co., Ltd.	  	12/03/2006-11/03/2011
	 7.
	  	Guizhou Tianji Computer Vocational Skill School	  	14/03/2006-13/03/2011
	 8.
	  	Hunan Shida Chemical Industry Development Co., Ltd/	  	18/05/2004-17/05/2009
	 9.
	  	Changsha Shili Commercial Service Co., Ltd.	  	18/06/2005-17/06/2010
	 10.
	  	Zhuzhou Aote Science and Technology Electronic Products Co., Ltd.	  	20/09/2004-19/09/2009
	 11.
	  	Xiangtan Jinfan Education Group	  	16/06/2006-15/06/2011

					
	 12.
	  	Wuhan Guanggu Vocational Skill Training Centre	  	06/07/2004-05/07/2009
	 13.
	  	Wuhan Mingsheng Electronic Information Technology Co., Ltd.	  	18/06/2005-17/06/2010
	 14.
	  	Xiangfan Hengrui Vocational Training Centre	  	21/01/2006-20/01/2011
	 15.
	  	Yichang Qianshuo Computer Information Technology Co., Ltd.	  	09/02/2006-08/02/2011
	 16.
	  	Nanjing Xietong Computer Information Net Co., Ltd.	  	01/08/2004-31/07/2009
	 17.
	  	Suzhou Industry Park Yiyang Science and Technology Co., Ltd.	  	23/09/2004-22/09/2009
	 18.
	  	Wuxi Zhiyuan Computer Education Co., Ltd.	  	29/11/2005-28/11/2010
	 19.
	  	Xuzhou Lanhai Computer Training Centre	  	23/04/2006-22/04/2011
	 20.
	  	Hangzhou Pioneer Net Technology Education Training Co., Ltd.	  	29/03/2004-29/03/2009
	 21.
	  	Hangzhou Hantian Net Science and Technology Co., Ltd.	  	19/11/2004-18/11/2009
	 22.
	  	Hangzhou Sanjie Information Technology Co., Ltd.	  	17/04/2006-16/04/2011
	 23.
	  	Ningbo Noxiang Vocational Training School	  	01/08/2005-31/07/2010
	 24.
	  	Shanghai Xianrui Computer Technology Training Co., Ltd,	  	01/08/2004-30/07/2009
	 25.
	  	Shanghai Yundeng Computer Science and Technology Co., Ltd.	  	10/10/2004-09/10/2009
	 26.
	  	Shanghai Yundeng Computer Science and Technology Co., Ltd.	  	31/03/2005-30/03/2010
	 27.
	  	Shanghai Desheng Culture Refreshment School	  	20/11/2004-19/11/2009
	 28.
	  	Beijing North Huateng Technology Training Centre	  	20/07/2004-19/07/2009
	 29.
	  	Beijing Guohuayuan Education Information Co., Ltd.	  	16/08/2004-01/10/2009
	 30.
	  	Beijing Xuezhitang Culture Education Training Co., Ltd.	  	26/10/2004-25/10/2009
	 31.
	  	Beijing Sinuo Xianglun Science and Technology Co., Ltd	  	28/12/2004-27/12/2009
	 32.
	  	Beijing Qinchi Science and Technology Development Co., Ltd.	  	11/11/2004-10/11/2009
	 33.
	  	Beijing Jiayin Flagship Science and Technology Development Co., Ltd.	  	 31/12/2004-30/12/2009

					
	 34.
	  	Beijing Yita Zeren Information Technology Co., Ltd.	  	19/02/2005-18/02/2010
	 35.
	  	Beijing Boke United Net Information Technology Co., Ltd.	  	08/06/2005-07/06/2010
	 36.
	  	Beijing Kehai Rixing Technology Training Co., Ltd.	  	06/06/2005 -05/06/2010
	 37.
	  	Beijing Zhiyuan Xunjie Technology Co., Ltd.	  	25/09/2005-24/09/2010
	 38.
	  	Beijing Jingcheng United Net Education Science and Technology Co., Ltd.	  	30/06/2006-29/07/2011
	 39,
	  	Beijing Zhibohengyuan Technology Co,. Ltd.	  	18/08/2006-17/08/2011
	 40.
	  	Xi’an Zhaolong Computer Training Centre	  	02/11/2004-01/11/2009
	 41.
	  	Gansu Xiyu Xiangyun Vocational Training School	  	18/06/2005-17/06/2010
	 42.
	  	Harbin Nangang District Compass Computer Training School	  	18/05/2004-17/05/2009
	 43.
	  	Daliang maocin Science and Technology Training School	  	25/03/2005-24/03/2010
	 44.
	  	Liancheng Dongchengfu District Sichuang Computer Training Co., Ltd.	  	25/03/2005-24/03/2010
	 45.
	  	Yizhou Liangzhong Science and Technology Co., Ltd.	  	28/08/2004-28/08/2009
	 46.
	  	Zhengzhou Xiangtian Homing Pigeon Science and Technology Co., Ltd.	  	10/02/2006-09/02/2011
	 47.
	  	Luoyang Hongzhuo Electronic Information Technology Co., Ltd.	  	05/07/2006-04/07/2011
	 48.
	  	Heibei Shengban Information Co., Ltd.	  	17/08/2006-16/08/2011
	 49.
	  	Tianjing Longhe Science and Technology Development Co., Ltd.	  	04/04/2006-03/04/2011

 BETEST 
  

					
	No.	  	Name of Companies	  	Term of Contracts
	 1.
	  	Beijing Test Times Xinxi Information Technology Co., Ltd.	  	01/10/2005-30/09/2010
	 2.
	  	Beijing Chunyou Pilotage Science and Technology Co., Ltd	  	01/04/2006-31/03/2011
	 3.
	  	Beijing Test Space Science and Technology Co., Ltd	  	26/01/2006-25/01/2011
	 4.
	  	Zhuhai Qiancheng Vocational Training School	  	01/09/2005-31/08/2010
	 5.
	  	Shenzhen Futian District Xinshi Vocational Training Centre	  	06/04/2006-05/04/2011
	 6.
	  	Wuhan Feilong Information Technology Co., Ltd.	  	16/01/2006-15/01/2011

 Franchise Contracts that have been signed but not performed: 
  

									
	 Name of
 Companies
	  	Signing Date	  	 Term of
 Contracts
	  	 Franchised
 Products
	  	Current Status
	Nanjing Sibida Education Co., Ltd.	  	23/08/2006	  	23/11/2006-22/11/ 2011	  	ACCP	  	With the second batch of start-up materials delivered.
	 Shanghai
Rongwei
 Information and Technology Co., Ltd.
	  	24/08/2006	  	16/12/2006-15/12/ 2011	  	ACCP	  	With the second batch of start-up materials delivered.
	Dongguang Yuanjian Software Technology Development Co,. Ltd.
	  	16/09/2006	  	16/12/2006-15/12/ 2011	  	ACCP	  	With the first batch of start-up materials delivered.
	Xi’an Hesheng Printing Co., Ltd.	  	20/09/2006	  	20/12/2006-19/12/ 2011	  	ACCP	  	With the first batch of start-up materials delivered.
	Shenzhen Weiwen Investment Development Co., Ltd.	  	28/09/2006	  	28/12/2006-27/12/ 2011	  	ACCP	  	With the first batch of start-up materials delivered.
	Fujian Saidi Net Co., Ltd.	  	26/09/2006	  	26/12/2006-25/12/ 2011	  	ACCP	  	With the first batch of start-up materials delivered.
	Yantai Branch of Beijing Zhongxing Yuandong Technology
Development Co., Ltd.	  	12/10/2006	  	12/01/2007-11/01/ 2012	  	BENET	  	With the first batch of start-up materials delivered.
	Jiangsu Leidu Education Co., Ltd.	  	08/09/2006	  	08/12/2006-07/12/ 2011	  	BENET	  	With the first batch of start-up materials delivered.

	(2)	House Lease Contracts 

  

							
	No.	  	Name of Companies	  	Signing Date	  	Term of Contracts
	 1.
	  	Shanghai Higher Learning Institution Rear Service Center	  	23/03/2006	  	18/05/2006-17/05/2011
	 2.
	  	Fuzhou Industry Exhibition Plaza Co., Ltd.	  	24/03/2006	  	20/03/2006-19/03/2010
	 3.
	  	Beijing Anzhen Century Realty Co., Ltd Yangzhou Branch	  	31/03/2006	  	05/05/2006-04/05/2011
	 4.
	  	Kunming Sport Industry Development Center	  	2006	  	05/01/2006-05/02/2011
	 5.
	  	Xiamen Baoheng Trading Co., Ltd.	  	24/03/2006	  	15/03/2006-14/03/2010
	 6.
	  	Qingdao Huayin Real Estate Development Co., Ltd.	  	15/03/2006	  	01/05/2006-30/04/2011
	 7.
	  	Beijing Peng’an Science and Technology Hatcher Co., Ltd.	  	22/03/2005	  	22/03//2005-11/04/2010
	 8.
	  	Tianjin Communication Administration Service Center	  	23/01/2005	  	24/01/2005-24/01/2008
	 9.
	  	Chongqing Wanma Industrial Co. Ltd	  	25/12/2004	  	25/12/2004-25/12/2009
	 10.
	  	Guangzhou Xingzheng Industrial Co., Ltd.	  	01/07/2005	  	01/08/2005-31/07/2010
	 11.
	  	Beijing Peony Electronic Group Co., Ltd.	  	2005	  	01/01/2005-31/12/2009
	 12.
	  	Shanghai Youth Center	  	02/02/2005	  	01/03/2005-28/02/2010
	 13.
	  	Hangzhou Westlake Science and Technology Growth Co. Ltd.	  	25/05/2005	  	01/06/2005-14/06/2010
	 14.
	  	Trading Center of Yantai Development Zone	  	18/01/2006	  	20/02/2006-19/02/2011
	 15.
	  	Liu Wenying	  	17/01/2006	  	01/04/2006-31/03/2011
	 16.
	  	Zhenjiang Keda Rear Service Assets Management Company	  	23/12/2005	  	10/02/2006-10/02/2011
	 17.
	  	Fifth Research Institute of Electronic Communication	  	04/01/2006	  	20/02/2006-19/02/2011
	 18.
	  	Shenzhen Shum Yi Logistics Group Holdings Co., Ltd.	  	20/01/2006	  	01/02/2006-28/02/2009
	 19.
	  	Guangzhou Liyuan Property Management Co., Ltd.	  	23/03/2005	  	01/03/2005-14/05/2009
	 20.
	  	Nantong Department Store Co., Ltd.	  	01/01/2006	  	04/02/2006-03/02-2011
	 21.
	  	Hefei Worker’s Cultural Complex	  	27/12/2005	  	25/12/2005-24/12/2010
	 22.
	  	Shenyang Hengji Industrial Co., Ltd.	  	28/12/2005	  	01/03/2006-28/02/2011
	 23.
	  	Beijing Jingdu Ronghua Property Management Co., Ltd.	  	12/10/2002	  	12/10/2002-11/10/2007

	(3)	Teaching Materials Printing Contracts 

 Beijing
APTECH and Zhuhai Hamah Industrial Co., Ltd. entered into ACCP Enlightening Star Printing Contract, BETEST Printing Contract, ACCP Printing Contract and BENET Printing Contract on Dec. 28, 2005. 
  

	(4)	Purchase Contract 

 Beijing APTECH and Shenzhen
Founder Information System Co., Ltd. entered into Project Beda Jade Bird Sale Contract on Dec. 22, 2005. 
  

	(5)	AD Contract 

 Beijing APTECH and Beijing Yibang
Zongheng Ad-agency Co., Ltd. entered into contract on Feb. 28, 2006; 
 Beijing APTECH and Beijing Yibang Zongheng Ad-agency Co., Ltd. entered
into Ad-release contract on Apr. 21, 2006; 
  

	(6)	Public Relation Contract 

 Beijing APTECH and
Beijing Pinovate Consulting Co., Ltd. entered into PR Agency Contract on Jan. 28, 2006. 
  

	(7)	WDP Contract 

 Beijing APTECH and Beijing Oracle
Software System Co., Ltd. entered into Oracle Workforce Development Program (“WDP”) Contract. 
 5.1 (14) 
  

	(1)	Related transaction between or among the Company and its shareholders or its related companies 

  

	a)	In 2006, the Company and Beijing Beida Jade Bird Software System Company entered into Trade Mark Registration and Licensing Agreement; 

  

	b)	The Company, Beijing APTECH and Guangzhou Beida Jade Bird Education Information Co., Ltd, Shanghai Beida Jade Bird Educational Information Technology, Beijing Beida
Jade Bird Co., Ltd. entered into Share Transfer Agreement on Mar. 18, 2005; and entered into Supplementary Agreement on Mar. 31, 2005. 

	c)	Beijing APTECH and PUEI entered into Single Spot Franchise Training Agreement on Nov. 26, 2003; 

  

	d)	Other related transaction: 

 The
Company entered into a contract with Beijing Beida Jade Bird Co., Ltd. on Mar. 3, 2005, with a sum receivable of RMB 2.24 million. 
  

	(2)	Related Transaction between the Company and Beijing APTECH 

  

	a)	The Company and Beijing APTECH entered into Franchise Agreement of Training Program on Jan. 16, 2005; 

  

	b)	The Company and Beijing APTECH entered into Adjusted Agreement of the Licensed Business on Dec. 16, 2005; 

  

	c)	The Company and Beijing APTECH entered into Franchise Agreement on Curriculum Exchange within the territory of China on Dec. 20, 2005; 

  

	d)	The Company and Beijing APTECH entered into BETEST (Software Test) Products, IP Transfer Contract. 

 5.1 (15) 
 Beijing APTECH is the legal
register of the following registered trade marks: 
  

	(1)	Trade Mark of No. 3135109 

  

	(2)	Trade Mark of No. 3135113 

  

	(3)	Trade Mark of No. 3135114 

  

	(4)	Trade Mark of No. 3133936 

  

	(5)	Trade Mark of No. 3133937 

  

	(6)	Trade Mark of No. 3140170 

  

	(7)	Trade Mark of No. 3140172 

  

	(8)	Trade Mark of No. 3135107 

  

	(9)	Trade Mark of No. 3140168 

  

	(10)	Trade Mark of No. 3140173 

  

	(11)	Trade Mark of No. 3140165 

  

	(12)	Trade Mark of No. 3140167 

  

	(13)	Trade Mark of No. 3140166 

	(14)	Trade Mark of No. 3140164 

 The Company
currently is licensed to use the trademarks of no. (1) to no. (8) listed above. 
 For information of litigation and arbitration in
connection with the IP, please refer to 5.1(10).

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00163-of-00352.parquet"}]]