Document:

Executive
      settlement agreement

    

    Party
      A:
      Agriculture Bank of China, Shanghai Wujiaochang Branch (creditor)

    Party
      B:
      Shanghai Wanxing Bio-pharmaceutical Com., Ltd. (debtor)

    Party
      C:
      Shanghai Fengxi vehicle driving training school

    

    
      	1.  	
              In
                March 2003, Party A issued loans in an amount of RMB 30 million to
                Party
                B. the loan has been guaranteed by Zhongyou Longchang (Group) Holding
                Com., Ltd. 

            

    

    
      	 	 

      	2.  	
              As
                of Sep. 12, 2006, a total amount of RMB 8.38 million has been repaid
                by
                Party B and guarantor. The remaining unpaid amount of loan principles
                is
                RMB 21.62 million.

            

      	 	 

    

    
      	3.  	
              On
                Jun. 21, 2004, Party A prosecuted Party B in the means of Payment
                Order
                (#Yang Min Du 2004-20). People’s court of Yangpu District seized Party B’s
                property, building and equipment, as well as some of the new medicine
                certificates and bank account. In year 2005, a further property seize
                was
                made to Qiu Zhongbao and Qiu Zhongguo’s personal estate in the name of
                joint liability. This case is under processing at time
                being.

            

    

    

    Both
      Party A and B acknowledged the above credit right and debt right. Upon
      negotiation, the following settlement agreement has been reached regarding
      the
      remaining unpaid loan:

    

    1).
      Party
      B agrees:

     

    a.
      before
      Oct. 31, 2006, repay loan principle RMB 12 millions.

     

    b.
      before
      Jun. 30, 2007, repay loan principle RMB 3 millions.

     

    c.
      before
      Oct. 31, 2007, repay remaining loan principle RMB 6.62 millions

    

    2).
      Party
      C agrees:

     

    Party
      C
      agrees to provide guarantee for the first repayment of RMB 12 million. Should
      Party B failed in repaying the loan principle before Oct. 31, 2006, Party C
      shall take the joint liability for the RMB 12 million debts. Should Party B
      made
      the first repayment on time, Party C’s joint liability will be released and
      shall not take joint liability for the other remaining debts. 

    

    3).
      Party
      A agrees:

     

    a.
      immediately after receiving the first repayment in an amount of RMB 12 million,
      Party A shall make request to People’s court of Yangpu District to withdraw
      seizing Qiu Zhongbao and Qiu Zhongguo’s personal estate, and withdraw seizing
      the new medicine certificates and bank account. 

     

    b.
      after
      receiving the first repayment before Oct 31,2006 in an amount of RMB 12 million,
      Party A agrees on Party B’s changing the guarantor for the remaining loan RMB
      9.62 million (new guarantor is subject to Party A’s approval). 

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    c.
      after
      receiving the entire remaining loan from Party B, Party A shall withdraw the
      seizing Party B’s property, buildings and equipment. This case will be
      terminated. 

    

    4).
      In
      case Party B failed in repaying the loan with full amount on time in accordance
      with the above, it shall be deemed as breaching the agreement. Party A has
      the
      rights to revoke this agreement, request the court to enforce repayment of
      entire loan principles and interests, and pursue the guarantor’s joint
      liability. 

    

    5).
      With
      the presence of People’s court of Yangpu District , this agreement shall enter
      into effect after signing by both parties. This agreement is in 4 copies. Each
      party holds one copy, People’s court of Yangpu District holds one copy as
      well.

    

    Signatures
      and stamps

    Party
      A:
      Agriculture Bank of China, Shanghai Wujiaochang Branch

    Signature
      of Zhang Qian

    Sep.
      15,
      2006

    

    Party
      B:
      Shanghai Wanxing Bio-pharmaceutical Com., Ltd. (debtor)

    Signature
      of Zhuang Zhong

    Sep.
      15,
      2006

    

    Party
      C:
      Shanghai Fengxi vehicle driving training school

    Signature
      of Mr. Wan

    Sep.
      15,
      2006

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

    To
      Wanxing Bio-pharmaceutical Co. Ltd

    

    According
      to our settlement agreement dated on September 15, 2006, your company is
      supposed to repay 12 million loans before Oct 30, 2006. At the same time, our
      bank will release all the seized properties. 

    

    On
      October 24, 2006, your company asked for paying 10 million in 2006, the rest
      2
      million will be returned before March 31, 2007. After review and considerate
      your case, we agree your loan returning plan. At the meantime, we still follow
      the regular clause in our settlement agreement; no any adjustment for the other
      clause. 

     

    Agriculture
      bank Shanghai branch

    

    Stamp
      from Agriculture bank shanghai Wujiao chang branch law affair
      department

    

    Date:
      December 28, 2006Executive
      settlement agreement

    

    Applicant:
      Industrial and Commercial Bank of China shanghai pudong branch

    Location:
      2024 pudong south road Pudong district, Shanghai

    

    Enforcee
      1: shanghai wanxing Bio-pharmaceutical Co., Ltd

     

    Enforcee
      2: Beijing wanxing vehicle service Co., Ltd

     

    Enforcee
      3: Beijing Guoan electric general company

     

    Enforcee
      4: shanghai haijiu industrial develop Co., Ltd

     

    Enforcee
      5: Jintian industrial group holding Co., Ltd

     

    Enforcee
      6: shanghai xinguang enterprise develop Co., Ltd

     

    The
      loan
      entanglements between the applicant and shanghai wanxing Bio-pharmaceutical
      Co.,
      Ltd and other Enforcees (case #2005-106, 107, 108, 123 and 149, 2004-466) have
      been ruled to implement by the People’s court of Pudong District (implementation
      case # 6983-6987 and 2005-329). Upon negations among the parties, the following
      agreement has been reached:

     

    
      	1.  	
              As
                of the date signing the settlement agreement, Wanxing still owes
                ICBC the
                loan principles in an amount of RMB 76,411,366.00. Wanxing promised
                that
                starting from Oct. 2006, he shall repay the principle RMB 3million
                each
                month to the applicant until the entire amount loan principles have
                been
                repaid. The repayment date shall 21st
                day of each month. In case of statutory holiday, then move the day
                to the
                following work day.

            

    

    
      	 	 

      	2.  	
              Wanxing
                and other Enforcees shall pay the interest accrued starting from
                Sept. 21,
                2006 from the said principles. The interest rate shall be 10% on
                top of
                the regulated rate issued by People’s Bank of China.
                

            

    

    
      	 	 

      	3.  	
              The
                other accumulated interest shall be settled through separate
                negotiation.

            

    

    
      	 	 

      	4.  	
              In
                case Wanxing and other Enforcees failed in fully repaying the funds
                on
                time in accordance with Clause 1 and 2, the applicant has the rights
                to
                request the people’s court to force implementation of the overdue fund
                including the interest accrued before Sep. 21, 2006
                immediately.

            

    

    
      	 	 

      	5.  	
              Processing
                cost and implementation cost shall be offered by Wanxing and other
                Enforcees.

            

    

    
      	 	 

      	6.  	
              This
                executive settlement agreement will enter into effect right after
                signed
                and stamped by the applicant and Wanxing. The other Enforcees can
                sign or
                stamp to acknowledge the agreement.

            

    

    
      	 	 

      	7.  	
              this
                agreement is in 9 copies. Each party holds one copy, and the people’s
                court holds one copy as well.

            

    

    

    Applicant
      (stamp)

    Enforcee
      (stamp) signature of Zhuang Zhong

    Signature
      of Beijing Guoan—Zhao weipingExecutive
      Settlement Agreement #1

    

    

    Party
      A: Shenzhen development bank Shanghai Lujiazui branch

    Party
      B: Shanghai Wanxing Bio-pharmaceutical Co. Ltd

    

    In
      accordance with effective judgment (case#2005-279) ruled by the 1st
      secondary people’s court of Shanghai, Party A is applying to implement the
      judgment concerning the economic entanglement with Party B, Zhongyou Longchang
      (group) holding com., and Zhejiang Zheda Haina Technology Holding Com., which
      has been registered by the 1st
      secondary people’s court of Shanghai to implement (implementation case#
      2005-911). Upon negotiation, Party A and Party B reached the following agreement
      to deal with the issue of overdue loan principles, interests and related
      costs:

    

    
      	1.  	
              Both
                parties confirm that as this agreement signing day, Party B owes
                Party A
                principle RMB17, 800,000. The interest owed shall be calculated based
                on
                Party A’s accounting system data.

            

    

    
      	 	 

      	2.  	
              Party
                B promise that he shall repay the loan, including principle and interest
                as per plan below:

            

    

    
      	 	 

      	a.  	
              repay
                loan principle 5 million before Oct 30,
                2006

            

    

    
      	 	 

      	b.  	
              repay
                loan principle 3 million before March 20,
                2007

            

    

    
      	 	 

      	c.  	
              repay
                loan principle 3 million before June 20,
                2007

            

    

    
      	 	 

      	d.  	
              repay
                loan principle 3 million before September 20,
                2007

            

    

    
      	 	 

      	e.  	
              repay
                loan principle 3.8 million and other accrued interest, litigation
                fee(the
                accrued interest amount shall be as shown in Party A’s accounting record )
                before December 20, 2007

            

    

    
      	 	 

      	3.  	
              If
                Party B failed to repay the fund as per Clause 2 of this settlement
                agreement, he will be considered breaching the agreement. Where Party
                A
                has right to request the court to implement the judgment regarding
                the
                remaining unpaid funds immediately.

            

    

    
      	 	 

      	4.  	
              If
                Party A received the repayment from guarantor—
                Zhongyou Longchang (group) holding com., and Zhejiang Zheda Haina
                Technology Holding Com.,
                party A shall deduct the amount from Party B’s last repayment accordingly.
                

            

    

    
      	 	 

      	5.  	
              This
                settlement agreement is in three originals, with each of the parties
                holding one copy. Shanghai fist people’s court has one copy as well.
                

            

    

    

    Stamp
      and
      signature of both parties: 

    

    Party
      A’s
      signature—can’t recognize

    Party
      B’s
      signature---Zhuang Zhong

    
 

    Date:
      Oct
      25, 2006

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