Document:

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                                                                   EXHIBIT 10.12

                     DATED AS OF THE DAY OF NOVEMBER 1, 2006

                JIA LUO BUSINESS CONSULTING (SHANGHAI) CO., LTD.

                                       AND

                   SHANGHAI CAMERA MEDIA INVESTMENT CO., LTD.

                                   ----------

                              CONSULTING AGREEMENT

                                   ----------

<PAGE>

                              CONSULTING AGREEMENT

THIS AGREEMENT (the "AGREEMENT") is entered into as of this 1st day of November,
2006

BETWEEN

JIA LUO BUSINESS CONSULTING (SHANGHAI) CO., LTD., a company incorporated under
the laws of the PRC with a registered address of Room 240, No. 227 Yue Shan
Road, Pudong New District, Shanghai, PRC ("JIA LUO")

AND

SHANGHAI CAMERA MEDIA INVESTMENT CO., LTD., a company incorporated under the
laws of the PRC with a registered address of 3B10, No. 168 Tianshan Zhi Road,
Changning District, Shanghai, PRC ("SCM")

WHEREAS

A.   SCM is engaged in the Business (defined hereinafter) and Jia Luo has a team
     of personnel having expertise in media related businesses and advertising
     which is required by SCM.

B.   SCM wishes to engage Jia Luo to provide the Services (defined hereinafter)
     and Jia Luo agrees to provide the Services in accordance with the terms and
     conditions of this Agreement.

NOW, THEREFORE, in consideration of the mutual covenants and conditions set
forth hereinafter and for other good and valuable consideration the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:

ARTICLE 1 DEFINITIONS AND INTERPRETATIONS.

1.1  In this Agreement, unless the context requires otherwise:

     (a)  words importing the singular shall include the plural and vice versa
          and words importing a gender include every gender;

     (b)  words denoting persons shall include bodies corporate or
          unincorporate, firms, partnerships, joint ventures, associations of
          persons, government departments or agencies, organisations or trusts
          (whether or not having a separate legal personality);

     (c)  references to "party" or "parties" in this Agreement are to a party or
          to the parties to this Agreement;

     (d)  references to a party to this Agreement shall include its successors
          and

                                       -2-

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          permitted assigns; and

     (e)  references to this Agreement or to a document or agreement in this
          Agreement shall be construed as a reference to this Agreement or that
          document or agreement as amended or re-executed from time to time.

1.2  Unless the context otherwise requires, the terms below shall have the
     following meanings:

     "BUSINESS" means advertising businesses and other related businesses
     carried on by SCM;

     "BUSINESS DAY" means any day on which banks are generally open for business
     in PRC;

     "HONG KONG" means the Hong Kong Special Administrative Region of the PRC;

     "PRC" means the People's Republic of China;

     "SERVICE FEE" has the meaning ascribed to it in Article 3.1; and

     "SERVICES" has the meaning ascribed to it in Article 2.2.

ARTICLE 2 PROVISION OF SERVICES.

2.1  SCM hereby appoints Jia Luo as its provider of the Services on and subject
     to the terms and conditions of this Agreement.

2.2  Jia Luo shall provide the following services (the "SERVICES") to SCM
     subject to the terms and conditions of this Agreement:

     a)   provide consulting services relating to the Business;

     b)   advise on the delivery of advertising content by SCM;

     c)   advise on human resource needs and related services including, but not
          limited to, secondment of staff to SCM as may be required by SCM in
          its operation of the Business;

     d)   advise on commercialization of SCM's content;

     e)   advise on improving to SCM's financial performance;

     f)   advise on potential listing of SCM or SCM's affiliated companies;

     g)   provide other services as may be required by SCM from time to time.

ARTICLE 3 SERVICE FEE.

3.1  In consideration for the provision of the Services, SCM shall by no later
     than fourteen (14) days after Jia Luo has issued its invoice for the
     relevant services, pay to Jia Luo the service fee set out in such invoice
     for the services described therein (the "SERVICE FEE"). If there is any
     dispute with respect to the Service Fee, the parties shall settle such
     dispute through friendly consultation.

                                       -3-

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3.2  The Service Fee shall be paid in accordance with Article 3.2 by cash,
     transfer cheque or bank transfer or using such other method as may be
     acceptable to Jia Luo to the account of Jia Luo, details of which shall be
     notified to SCM in a notice served on SCM by Jia Luo from time to time.

ARTICLE 4 TERM AND TERMINATION.

4.1  Unless otherwise terminated pursuant to Clause 4.2, the term of this
     Agreement shall commence from the date hereof and shall continue in full
     force and effect until 31 December 2023. Upon expiry of the said term, this
     Agreement shall be automatically extended for and additional term of not
     less than ten (10) years, the exact term of extension shall be determined
     by the parties in writing.

4.2  This Agreement may be terminated by Jia Luo or SCM at any time without
     compensation by written notice served on the other party in accordance with
     the terms of this Agreement 30 Business Days' prior to such termination.

4.3  In the event either party materially breaches this Agreement and fails to
     remedy such breach to the satisfaction of the non-defaulting party within
     10 Business Days from the date it receives written notice of such breach
     from the defaulting party, without prejudice to any legal or other rights
     or remedies which either party may have, the non-defaulting party has the
     right to terminate this Agreement immediately by written notice to the
     defaulting party in the event either party materially breaches this
     Agreement.

ARTICLE 5 SUCCESSORS AND ASSIGNS.

5.1  This Agreement shall be binding upon and enure to the benefits of the
     parties and their respective successors and permitted assigns.

5.2  No party hereto may assign or transfer any of its rights or obligations
     under this Agreement to any third party without the prior written consent
     of the other party.

ARTICLE 6 GOVERNING LAW AND DISPUTE RESOLUTION.

6.1  This Agreement shall be governed by and construed in accordance with the
     laws of the PRC.

6.2  Any dispute, controversy or claim arising out of or in connection with this
     Agreement, including any question regarding its existence, validity or
     termination, shall be settled through friendly consultation between the
     parties. In the event that no settlement is reached within 30 Business Days
     from the date of notification by either party to the other that it intends
     to submit a dispute, controversy or claim to arbitration, then such
     dispute, controversy or claim shall be finally resolved by arbitration
     under the arbitration rules of the China International Economic and Trade
     Arbitration Commission ("CIETAC") as at present in force, which rules are
     deemed to be incorporated by reference into this Article.

                                       -4-

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6.3  The place of arbitration shall be Shanghai, PRC.

6.4  The tribunal shall consist of three arbitrators. Two arbitrators shall be
     selected by the respective parties. The third arbitrator shall be selected
     by agreement between the parties or, failing agreement within 10 Business
     Days of the appointment of the two party-nominated arbitrators, by the
     chairman of CIETAC.

ARTICLE 7 ENTIRE AGREEMENT.

This Agreement constitutes the entire agreement and understanding between the
parties in connection with the transactions hereby contemplated. This Agreement
supersede all previous agreements, arrangements and understandings between the
parties with regard to such transaction which shall cease to have any further
force or effect.

ARTICLE 8 CONFIDENTIALITY.

The parties agree to keep the terms and conditions of this Agreement strictly
confidential. The Agreement or the terms and conditions thereof will only be
disclosed if and to the extent necessary under the laws and regulations of the
PRC.

ARTICLE 9 NOTICES.

9.1  Notices or other communications required to be given by any party pursuant
     to this Agreement shall be in writing in English and in Chinese and may be
     delivered personally or sent by registered airmail or postage prepaid, by a
     recognised courier service or by facsimile transmission to the address of
     the other party set forth below. The dates on which such notices shall be
     deemed to have effectively given shall be determined as follows:

     (a)  notices given by personal delivery shall be deemed effectively given
          on the date of personal delivery.

     (b)  notices given by registered airmail or postage prepaid shall be deemed
          effectively given on the tenth Business Day after the date on which
          they were mailed (as indicated by the postmark).

     (c)  notices by courier shall be deemed effectively given on the fifth
          Business Day after they were sent by recognised courier service.

     (d)  notices given by facsimile transmission shall be deemed effectively
          given on the first Business Day following the date of successful
          transmission and receipt as evidenced by the transmission report.

          JIA LUO

          JIA LUO BUSINESS CONSULTING (SHANGHAI) CO., LTD.

          Unit 3905-3909, 1 Grand Gateway, 1 HongQiao Lu
          Shanghai, PRC, 200030

                                       -5-

<PAGE>

          For the attention of: Mr. Stephen Cheung
          Telephone No.: (8621) 6113-5962
          Facsimile No.: (8621) 6448-4955

          SCM

          SHANGHAI CAMERA MEDIA INVESTMENT CO., LTD.

          2nd Floor, Da Zhong Finance Building,
          1033 Yan An Road West
          Shanghai 200050
          PRC

          For the attention of: Mr. Zhang Guanming
          Telephone No.: 021-61612110
          Facsimile No.: 021-61612108

          With a copy to Richard Wang & Co.:

          18th Floor, Union Building
          100 Yan An Road East
          Shanghai 200002
          P.R.C.

          Attention: Miss Catherine Chen
          Telephone No.: (8621) 6326 5800
          Facsimile No.: (8621) 6321 8890

9.2  Any party may at any time change its address for service by notice in
     writing delivered to the other party in accordance with the terms hereof.

ARTICLE 10 MISCELLANEOUS.

10.1 Time shall be of the essence of this Agreement.

10.2 The headings in this Agreement are inserted for convenience only and shall
     not affect the construction of this Agreement.

10.3 This Agreement may not be amended or modified except in writing signed by
     all parties, and any amendment and supplement to this Agreement shall form
     part of this Agreement and shall have the same legal effect as this
     Agreement.

10.4 Any provision of this Agreement which is invalid, illegal or unenforceable
     in any jurisdiction shall, as to that jurisdiction, be ineffective to the
     extent of such invalidity, illegality or unenforceability, without
     affecting in any way the remaining provisions hereof in such jurisdiction
     or rendering that or any other provision of this Agreement invalid, illegal
     or unenforceable in any other jurisdiction.

10.5 This Agreement may be executed in any number of counterparts, all of which

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     taken together shall constitute one and the same agreement, and either
     party may enter into this Agreement by executing a counterpart.

10.6 This Agreement shall be executed in both the English and Chinese languages
     and in the event of any discrepancy between the two versions, the parties
     hereto shall negotiate in good faith to resolve the discrepancy provided
     that if such good faith negotiation does not resolve in a resolution, then
     the Chinese version of this Agreement shall prevail.

             THE REMAINDER OF THIS PAGE IS INTENTIONALLY LEFT BLANK.

                                       -7-

<PAGE>

IN WITNESS WHEREOF, the parties hereto have caused their authorised
representatives to execute this Agreement as of the date first written above.

JIA LUO BUSINESS CONSULTING (SHANGHAI) CO., LTD.

[Company chop of Jia Luo Business Consulting (Shanghai) Co., Ltd.]

By: /s/
    ---------------------------------
Name: Graham Earnshaw
Title: Legal Representative

SHANGHAI CAMERA MEDIA INVESTMENT CO., LTD.

[Company chop of Shanghai Camera Media Investment Co., Ltd.]

By: /s/
    ---------------------------------
Name: Zhang Guanming
Title: Legal Representative<PAGE>
                                                                   EXHIBIT 10.13

                         BEIJING CENTRAL MEDIA CO. LTD.
                  (OR BEIJING CENTURY MEDIA CULTURE CO., LTD.)

                                       AND

                  HUNAN TV & BROADCAST INTERMEDIARY CO., LTD.

                                       AND

                      SHENZHEN RONGHAN INVESTMENT CO., LTD.

                                       AND

      BEIJING PERSPECTIVE ORIENT MOVIE & TELEVISION INTERMEDIARY CO., LTD.

--------------------------------------------------------------------------------

                         STRATEGIC PARTNERSHIP AGREEMENT

--------------------------------------------------------------------------------

                                  JUNE 15, 2006

<PAGE>

                                TABLE OF CONTENTS

<TABLE>
<CAPTION>
ITEM DESCRIPTION                                                            PAGE
<S>  <C>      <C>                                                           <C>
1.   DEFINITIONS ............................................................ 1

2.   THE TRANSACTION ........................................................ 6

3.   CLOSING CONDITIONS PRECEDENT ........................................... 7

4.   CLOSING ................................................................ 8

5.   VENPORS' OBLIGATZONS ................................................... 8

6.   COVENANTS .............................................................. 9

7.   WARRANTIES ............................................................ 12

8.   INDEMNITY ............................................................. 13

9.   NON-COMPETE COVENANT .................................................. 15

10.  TERMINATION ........................................................... 15

11.  MISCELLANEOUS ......................................................... 17

SCHEDULE A    CORPORATE DETAILS OF BPO ..................................... 21

SCHEDULE B    CLOSING CONDITIONS PRECEDENT ................................. 22

SCHEDULE C    DOCUMENTS DELIVERABLES AT OR PRIOR TO CLOSING ................ 24

SCHEDULE D    VENDORS WARRANTIES ........................................... 25

SCHEDULE E    THE PURCHASER WARRANTIES ..................................... 33

SCHEDULE F    MANAGEMENT TEAM AND KEY EMPLOYEES OF BPO ..................... 34

SCHEDULE G    MANAGEMENT CONTRACT .......................................... 35

SCHEDULE H    WAIVER LETTER ................................................ 36

SCHEDULE I    PAYABLES AND RECEIVABLES ..................................... 39

SCHEDULE J    CONSTITUTIONAL DOCUMENTS OF BPO .............................. 40

SCHEDULE K    EXISTING CONTRACTS ........................................... 41

SCHEDULE L    LEASES ....................................................... 42

SCHEDULE M    INTELLECTUAL PROPERTY OF BPO ................................. 43

SCHEDULE N    LAST ACCOUNTS ................................................ 44

APPENDIX 1    Equity Transfer and Capital Increase in BPO) ................. 45

APPENDIX 2    Articles of association of BPO ............................... 46

APPENDIX 3    Money Journal Cooperation Agreement .......................... 47
</TABLE>

<PAGE>

THIS STRATEGIC PARTNERSHIP AGREEMENT (this "AGREEMENT") is made in Beijing, PRC,
on the 15th day of June, 2006.

BETWEEN

(1)  BEIJING CENTRAL MEDIA CO., LTD., or Beijing Century Media Culture Co.,
     Ltd., a limited liability company incorporated under the laws of PRC with
     registration number 1101112708733 and a registered address at No. 18-388,
     Jianshe Road, Kaixuan Avenue, Liang Xiang, Fangshan District, Beijing
     ("PURCHASER");

(2)  HUNAN TV & BROADCAST INTERMEDIARY CO., LTD., a company limited by shares
     incorporated under the laws of PRC with registration number 4300001001044
     and a registered address at Jinying Intermediary & Culture City, Liuyang
     River Bridge East, Changsha, Hunan Province ("TVBI");

(3)  SHENZHEN RONGHAN INVESTMENT CO., LTD., a limited liability company
     incorporated under the laws of PRC with registration number 4403011065442
     and a registered address at Suite 31F, Shenzhen Special Zone Press Tower,
     Futian District, Shenzhen ("SZCO", together with TVBI, the "VENDORS");

(4)  BEIJING PERSPECTIVE ORIENT MOVIE AND TELEVISION INTERMEDIARY CO., LTD., a
     limited liability company incorporated under the laws of PRC with
     registration number 1100001168692 and a registered address at No. 5
     Building, No. 46 Taiping Road, Haidian District, Beijing ("BPO").

WHEREAS

A.   TVBI is holding 90% of the equity interest in BPO and is the controlling
     shareholder of SZCO as of the date of this Agreement;

B.   The PURCHASER desires to acquire and TVBI agrees to sell certain equity
     interest in BPO on the terms and conditions as set out in this Agreement;
     and

C.   The PURCHASER, TVBI, SZCO and BPO desire to enter into and complete the
     TRANSACTION (as defined below) on the terms and conditions as set out in
     this Agreement and the TRANSACTION DOCUMENTS (as defined below).

NOW, THEREFORE, in consideration of the premises and the mutual covenants set
forth herein, the PURCHASER, TVBI, SZCO and BPO agree as follows:

1.   DEFINITIONS

     1.1  The following terms, as used herein, have the following meanings:

          "AFFILIATES" means any other PERSON that, directly or indirectly,
          through one or more intermediaries, CONTROLS, is CONTROLLED by, or is
          under common CONTROL with, a specified

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          PERSON or, in the case of a natural person, such PERSON's spouse,
          parents and descendants (whether by blood or adoption and including
          stepchildren);

          "AGREED FORM" means, in relation to any document, the form of that
          document which has been agreed upon by each of the PARTIES hereto
          before the CLOSING;

          "AMENDED AOA" shall have the meaning as provided in Clause 2.2 (b);

          "BOARD" means the board of directors of BPO;

          "BPO JOINT-CONTROL ACCOUNT" means a separate account opened by BPO in
          a bank designated by the PURCHASER for the purpose of depositing the
          INCREASED CAPITAL (as defined below) and the INITIAL PAYMENT (as
          defined below), which is under joint control of BPO and the PURCHASER
          by reserving seal specimens, and for the avoidance of doubt, neither
          PARTY may withdraw, transfer or dispose by other means any part of the
          fund in such account without the written consent of the authorized
          representatives of the aforesaid two parties.

          "BUSINESS DAY" means any Monday, Tuesday, Wednesday, Thursday and
          Friday on which banks in PRC are not required or permitted by laws to
          be closed;

          "CLOSING" shall have the meaning provided in Clause 4.2;

          "CLOSING DATE" shall have the meaning provided in Clause 2.3(d);

          "CLOSING NOTICE" shall mean the written document delivered by the
          PURCHASER to TVBI pursuant to Clause 2.3(d) hereunder;

          "CONSENTS" means any consent, approval, order, or authorization of or
          registration, declaration, or filing with or exemption by or from a
          governmental body in PRC;

          "CONSTITUTIONAL DOCUMENTS" shall have the meaning provided in Clause
          (a) of Part C of Schedule D;

          "CONTROL", "CONTROLS", "CONTROLLED" (or any correlative term) means
          the possession, directly or indirectly, of the power to direct or
          cause the direction or the management of a PERSON, whether through the
          ownership of voting securities, by contract, credit arrangement or
          proxy, as trustee, executor, agent or otherwise. For the purpose of
          this definition, a PERSON shall be deemed to CONTROL another PERSON if
          such first PERSON, directly or indirectly, owns or holds more than 50%
          of the voting equity interests in such other PERSON;

          "DIRECTORS" means the members from time to time of the BOARD;

          "ENCUMBRANCES" means and includes any interest or equity of any person
          (including, without prejudice to the generality of the foregoing, any
          right to acquire, option or right of pre-emption) or any mortgage,
          charge, pledge, claims, agreements, equities, lien or

                                       2

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          assignment and other third party rights of any nature whatsoever and
          together with all rights of any nature whatsoever now or hereafter
          attaching or accruing to the property including, where the property is
          shares or equity interests in a company, all rights to any dividends
          or other distribution declared paid or made in respect of them, or any
          other encumbrance, priority or security interest or arrangement of
          whatsoever nature over or in the relevant property;

          "EQUITY" means the equity interest in the registered capital of BPO,
          which is to be sold by TVBI and purchased by the PURCHASER, under the
          relevant TRANSACTION DOCUMENTS pursuant to Clause 2.1;

          "EXISTING CONTRACTS" shall have the meaning provided in Clause (i) of
          Part C of Schedule D;

          "IFRS" means the International Financial Reporting Standards
          promulgated by the International Accounting Standards Board from time
          to time;

          "INDEMNIFIED PARTY" shall have the meaning provided in Clause 8.6;

          "INDEMNIFYING PARTY" shall have the meaning provided in Clause 8.6;

          "INTELLECTUAL PROPERTY" means, collectively, the OWNED INTELLECTUAL
          PROPERTY and the LICENSED INTELLECTUAL PROPERTY;

          "LAST ACCOUNTS" means the consolidated balance sheets, the
          consolidated profit and loss accounts, and the consolidated cash flow
          statements of BPO, as attached hereto as Schedule N, together with any
          notes, reports or statements included in or annexed to them, which are
          in respect of the state of affairs of BPO as of the LAST ACCOUNTS
          DATE;

          "LAST ACCOUNTS DATE" means 31 December 2005 which is the cut-off date
          for the LAST ACCOUNTS;

          "LICENSED INTELLECTUAL PROPERTY" means any and all license rights
          granted to BPO in any third party intellectual property or other
          proprietary or personal rights, including any and all of the following
          that are licensed to BPO anywhere in the world: trademarks, trade
          names, service marks and trade dress, and all goodwill associated with
          trademarks, trade names, corporate names, business names, brand names,
          service marks and trade dress; patents; concepts; prototypes;
          drawings; designs; logos; trade dress; distinguishing guises;
          certification marks; official marks; mask works; utility models;
          domain names and other identifiers for internet protocol addresses and
          networks, fictional characters, and other indicators of source or
          business identifiers, and all goodwill associated therewith;
          copyrights and copyrightable works; databases; graphics; schematics;
          marketing, sales and user data and strategies and customer lists;
          technology; trade secrets, including confidential know-how,
          inventions, invention disclosures, inventor's notes, improvements,
          discoveries, formulae, specifications and processes; computer software
          programs of any kind (in both source and object code form);
          application programming interfaces;

                                       3

<PAGE>

          protocols; and any renewal, extension, reissue, continuation or
          division rights, applications and/or registrations for any of the
          foregoing;

          "MANAGEMENT" means the key management team of BPO as listed in
          Schedule F;

          "MANAGEMENT CONTRACTS" means the five-year management employment
          contracts in the form set out in Schedule G with each member of
          MANAGEMENT;

          "MATERIAL ADVERSE CHANGE" means any event, circumstance or occurrences
          which might reasonably be expected to have a material adverse effect
          on the prospects, business, operations or financial condition of BPO
          taken as a whole or that would materially affect the ability of any
          PERSON (other than the PURCHASER) who is a party to any of the
          TRANSACTION DOCUMENTS to perform its material obligations under any of
          the TRANSACTION DOCUMENTS;

          "OWNED INTELLECTUAL PROPERTY" means any and all of the following that
          are owned (including joint ownership) or held by BPO anywhere in the
          world: trademarks, trade names, service marks and trade dress, and all
          goodwill associated with trademarks, trade names, corporate names,
          business names, brand names, service marks and trade dress; patents;
          concepts; prototypes; drawings; designs; logos; trade dress;
          distinguishing guises; certification marks; official marks; mask
          works; utility models; domain names and other identifiers for internet
          protocol addresses and networks, fictional characters, and other
          indicators of source or business identifiers, and all goodwill
          associated therewith; copyrights and copyrightable works; databases;
          graphics; schematics; marketing, sales and user data and strategies
          and customer lists; technology; trade secrets, including confidential
          know-how, inventions, invention disclosures, inventor's notes,
          improvements, discoveries, formulae, specifications and processes;
          computer software programs of any kind (in both source and object code
          form); application programming interfaces; protocols; and any renewal,
          extension, reissue, continuation or division rights, applications
          and/or registrations for any of the foregoing;

          "PARTIES" means the PURCHASER, TVBI, SZCO and BPO, and "PARTY" means
          any of them;

          "PERSON(S)" means any natural person, company, association,
          partnership, organization, business, joint venture, trust,
          unincorporated organization or any other entity or organization, and
          shall include any governmental authority;

          "PRC" means the People's Republic of China, excluding Hong Kong
          Special Administration Region ("HONG KONG"), Macao Special
          Administration Region and Taiwan for the purposes of this Agreement;

          "PRC LEASE(S)" shall have the meanings provided in Clause (r) of Part
          C of Schedule D;

          "PURCHASER WARRANTIES" means the representations and warranties given
          by the PURCHASER as set out in Schedule E;

                                       4

<PAGE>

          "RMB" means the lawful currency of PRC;

          "SAIC" means the State Administration of Industry and Commerce of PRC
          and/or its local counterparts;

          "SPIA" shall have the meaning provided in Clause 2.2;

          "SUBSIDIARY" means a partnership, company, or other entity, of which a
          PERSON directly or indirectly owns or controls voting rights or other
          interests that are sufficient to elect a majority of the board of
          directors or other managers of such partnership, company or other
          entity;

          "TRANSACTION" means the transactions contemplated by the TRANSACTION
          DOCUMENTS;

          "TRANSACTION DOCUMENTS" means this Agreement and the documents
          referred to in Clause 2 of this Agreement;

          "VENDORS WARRANTIES" means the representations and warranties given by
          TVBI and SZCO as set out in Schedule D;

          "WARRANTIES" means the PURCHASER WARRANTIES and/or the VENDORS
          WARRANTIES, as appropriate;

     1.2  In this Agreement:

          (a)  the headings are inserted for convenience only and shall not
               affect the construction of this Agreement;

          (b)  references to statutory provisions shall be construed as
               references to those provisions as amended or re-enacted or as
               their application is modified by other statutory provisions
               (whether before or after the date hereof) from time to time and
               shall include any provisions of which they are re-enactments
               (whether with or without modification);

          (c)  all times and dates in this Agreement shall be PRC times and
               dates except where otherwise stated;

          (d)  unless the context requires otherwise, words incorporating the
               singular shall include the plural and vice versa and words
               importing one gender shall include every gender; and

          (e)  references herein to Clauses, Recitals and Schedules are to
               clauses and recitals of and schedules to this Agreement.

     1.3  All Recitals and Schedules form part of this Agreement and shall have
          the same force and effect as if expressly set out in the body of this
          Agreement and any reference to this Agreement shall include the
          Recitals and Schedules.

                                       5

<PAGE>

     1.4  Warranties, covenants, indemnities or other obligations expressed in
          this Agreement to be given by more than one party shall be deemed to
          be given by such parties on a joint and several basis unless otherwise
          expressly provided for.

2.   THE TRANSACTION

     2.1  The PARTIES hereby agree that the TRANSACTION shall include the
          following transactions and any other related matters as contemplated
          or required by the TRANSACTION DOCUMENTS:

          (a)  a transfer of 42.67% of total equity interest in BPO ("EQUITY")
               by TVBI to the PURCHASER, for which the consideration shall be
               RMB 32,000,000 (RMB thirty-two million) ("EQUITY TRANSFER
               PRICE"), to be paid to the TVBI subject to the terms and
               conditions contained in this AGREEMENT and the SPIA; and

          (b)  an increase of RMB 17,000,000 (RMB seventeen million) in the
               registered capital of BPO ("INCREASED CAPITAL") subscribed by the
               PURCHASER upon the transfer of the EQUITY pursuant to the SPIA,
               after which the PURCHASER will hold 51% equity interest in BPO.

     2.2  The PARTIES hereby agree to enter into the TRANSACTION on the terms
          and conditions contained in this Agreement and the following
          documents("TRANSACTION DOCUMENTS"):

          (a)  an agreement for equity transfer and capital increase ("SPIA") to
               be entered into by and among TVBI, SZCO, BPO and the PURCHASER in
               AGREED FORM as set out in Appendix 1 attached hereto, under which
               TVBI agrees to sell and the PURCHASER agrees to purchase the
               EQUITY, and in furtherance of the strategic partnership the
               PURCHASER agrees to subscribe for and make contribution of the
               newly increased capital pursuant to the SPIA, while TVBI, SZCO
               and BPO agree to the same;

          (b)  an amended articles of association of BPO ("AMENDED AOA") in
               AGREED FORM as set out in Appendix 2 attached hereto;

          (c)  other agreements, contracts or documents in relation to the
               TRANSACTION contemplated by the above documents or this
               Agreement.

     2.3  The PARTIES hereby agree that the TRANSACTION shall be proceeded as
          follows:

          (a)  Within twenty (20) BUSINESS DAYS after the execution of this
               AGREEMENT, the PURCHASER shall use its best efforts to increase
               its registered capital to RMB29,000,000, and deliver a copy of
               its latest business license and an original copy of its capital
               verification report for the SELLER's inspection;

                                       6

<PAGE>

          (b)  Within twenty (20) BUSINESS DAYS after the VENDOR receives a copy
               of the business license and an original copy of its capital
               verification report delivered by the PURCHASER indicating that
               the registered capital of the PURCHASER is RMB29,000,000, the
               VENDORS shall deliver the duplicate of the application documents
               required by the equity transfer hereunder and the documents
               evidencing the fulfilment of the CLOSING CONDITIONS PRECEDENT set
               out in Clause 1 of Schedule B for the PURCHASER's confirmation,
               and the PURCHASER shall complete reviewing such documents within
               five (5) BUSINESS DAYS after receiving the documents, and issue a
               written transaction confirmation letter to the VENDORS after
               confirming that such documents are in compliance with the
               TRANSACTION DOCUMENTS. Within fifteen (15) BUSINESS DAYS after
               the issuance of the aforesaid written transaction confirmation
               letter, the PURCHASER shall make the initial payment of the
               EQUITY TRANSFER PRICE amounting to RMB 7,500,000 ("INITIAL
               PAYMENT") and the INCREASED CAPITAL amounting to RMB 17,000,000
               into the BPO JOINT-CONTROL ACCOUNT within reasonably practical
               time, and execute the legal documents for the equity transfer and
               the capital increase.

          (c)  Within twenty (20) BUSINESS DAYS after the INITIAL PAYMENT and
               the INCREASED CAPITAL have been made by the PURCHASER pursuant to
               Clause 2.3 (b), the VENDORS shall officially submit the
               application for the equity transfer and capital increase with
               SAIC with the application documents in the same form as the
               documents duplicate delivered to the PURCHASER pursuant to Clause
               2.3 (b). The VENDORS shall obtain the prior written consent of
               the PURCHASER if any amendment need to be made to the application
               documents.

          (d)  Within three (3) BUSINESS DAYS after the new business license of
               BPO ("NEW BUSINESS LICENSE") is issued, the VENDORS shall provide
               the PURCHASER with the documents issued by SAIC evidencing that
               the registered capital of BPO has increased to RMB 117,000,000
               and the PURCHASER has been registered as the owner of 51% equity
               interest of BPO. The PURCHASER shall complete reviewing the
               aforesaid documents within five (5) BUSINESS DAYS after receiving
               such documents, and issue the CLOSING NOTICE after confirming
               that (1) the equity transfer and the capital increase have been
               completed in accordance with the TRANSACTION DOCUMENTS, and (2)
               all of the CLOSING CONDITIONS PRECEDENT (as defined below) have
               been fulfilled or the PURCHASER has waived the CLOSING CONDITIONS
               PRECEDENT failing to be fulfilled pursuant to Clause 3.4. The
               VENDORS shall handle CLOSING (as defined below) together with the
               PURCHASER and deliver all the documents necessary for the
               operation of BPO within the schedule as designated in the CLOSING
               NOTICE ("CLOSING DATE").

3.   CLOSING CONDITIONS PRECEDENT

     3.1  The CLOSING NOTICE is conditional upon the fulfilment of any and all
          CLOSING CONDITIONS PRECEDENT set out in Schedule B, and the fulfilment
          of the CLOSING CONDITIONS PRECEDENT may be waived by the PURCHASER
          pursuant to Clause 3.4.

                                       7

<PAGE>

     3.2  The PARTIES shall use their reasonable endeavours to cause the CLOSING
          CONDITIONS Precedent to be fulfilled as soon as practicable.

     3.3  If the CLOSING CONDITIONS PRECEDENT specified in Schedule B have not
          been fulfilled within one hundred and twenty (120) BUSINESS DAYS after
          the execution of this Agreement and the PURCHASE has not waived such
          unfulfilled CLOSING CONDITIONS PRECEDENT pursuant to Clause 3.4, the
          PURCHASER shall be entitled, at its sole and absolute discretion, to
          terminate this Agreement by serving a written notice to TVBI.

     3.4  Notwithstanding the above, the PURCHASER shall be entitled, in its
          sole and absolute discretion, to waive any or all of the CLOSING
          CONDITIONS PRECEDENT specified in Schedule B or to request any of such
          CLOSING CONDITIONS PRECEDENT be fulfilled by the VENDOR after the
          CLOSING. In case that the PURCHASER has requested that any CLOSING
          CONDITION PRECEDENT be fulfilled after the CLOSING, such CLOSING
          CONDITION PRECEDENT shall automatically become a post-CLOSING
          undertaking and the VENDORS shall fulfil such post-CLOSING
          undertakings as soon as practical after the CLOSING but in no event
          later than thirty (30) BUSINESS DAYS after the CLOSING.

4.   CLOSING

     4.1  Upon the fulfilment of all the CLOSING CONDITIONS PRECEDENT or the
          waiver of the unfulfilled CLOSING CONDITIONS PRECEDENT by the
          PURCHASER, the CLOSING shall take place on the CLOSING DATE as
          specified in the CLOSING NOTICE, and, in any event, the CLOSING DATE
          shall be no later than thirty (30) BUSINESS DAYS after the NEW
          BUSINESS LICENSE has been issued.

     4.2  The PURCHASER and the VENDORS shall complete the following closing
          procedures ("CLOSING") on the CLOSING DATE and within the three (3)
          BUSINESS DAYS after the CLOSING DATE:

          (a)  The VENDORS shall deliver, or cause BPO to deliver, to the
               PURCHASER a copy of the documents set out in Schedule C. If such
               documents fail to be delivered, the PURCHASER shall be entitled
               to terminate this AGREEMENT pursuant to Clause 10;

          (b)  The PURCHASER and BPO shall release to TVBI an amount equivalent
               to the INITIAL PAYMENT as part of the EQUITY TRANSFER PRICE from
               the BPO JOINT-CONTROL ACCOUNT, and the PURCHASER shall pay TVBI
               the balance of the EQUITY TRANSFER PRICE amounting to RMB
               24,500,000; and

          (c)  The VENDORS shall deliver to the representative nominated by
               PURCHASER all of the records, seals, registers, minute books,
               files, approvals, permits, licenses, certificates and other
               statutory books of BPO, and the original or effective duplicate
               of any legal certificate and document required for the effective
               management of BPO by the PURCHASER, for inspection and
               confirmation.

5.   VENPORS' OBLIGATZONS

     5.1  The VENDORS shall use its best endeavour to cause BPO to

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<PAGE>

          (a)  renew the lease agreements with respect to No. 5 Building, No. 46
               Taiping Road, Haidian District, Beijing entered into by BPO
               and/or Beijing Perspective Oriental Advertising Co., Ltd.
               ("BPOA") in a form satisfactory to the PURCHASER; and

          (b)  obtain the effective Organization Identity Code Certificate of
               BPO and BPOA, and the effective State Tax Registration
               Certificate of BPOA.

     5.2  TVBI shall complete the acquisition of 10% equity interest in BPO held
          by SZCO as soon as reasonably practical, which, in any case, shall be
          no later than sixty(60) BUSINESS DAYS after the CLOSING DATE.

     5.3  The VENDORS shall perform and comply with all the terms, conditions
          and obligations contained in the TRANSACTION DOCUMENTS;

     5.4  The VENDORS shall use its best endeavours to assist the PURCHASER to
          transfer the maximum ratio as permitted by the laws of PRC of the
          equity interest in BPO to any offshore third party as designated by
          the PURCHASER.

6.   COVENANTS

     6.1  From the execution date of this Agreement until the CLOSING DATE,
          except for the TRANSACTIONS specified in the TRANSACTION DOCUMENTS or
          otherwise with the prior written consent of THE PURCHASER:

          (a)  The VENDORS warrant and undertake that they will ensure BPO to:

               (i)    conduct its business in the ordinary course and consistent
                      with past practices;

               (ii)   maintain in full force and effect its existence;

               (iii)  promptly and timely prepare and file any reports and tax
                      returns and pay all taxes, assessments, government fees
                      and charges, if any, required to maintain its existence
                      and conduct its business in the ordinary course and
                      consistent with past practices;

               (iv)   comply with all applicable laws;

               (v)    keep records in which true and correct entries will be
                      made of all transactions entered into;

               (vi)   duly observe all material requirements of governmental
                      authorities unless contested in good faith by appropriate
                      legal proceedings with the consent of the PURCHASER;

                                       9

<PAGE>

               (vii)  promptly pay and discharge, or cause to be paid and
                      discharged, when due and payable, all lawful taxes,
                      assessments and governmental charges or levies imposed
                      upon its income, profits, property or business of unless
                      contested in good faith by appropriate legal proceedings
                      with the consent of the PURCHASER;

               (viii) at all times comply with the provisions of all contracts,
                      agreements and leases to which it is a party, unless
                      contested in good faith by appropriate legal proceedings
                      with the consent of the PURCHASER; and

               (ix)   unless otherwise directed by the PURCHASER, use best
                      endeavours to procure that its employees at the date of
                      this Agreement remain and continue as employees prior to
                      and after the CLOSING;

          (b)  The VENDORS warrant and undertake to ensure BPO not to:

               (i)    modify its Articles of Association except otherwise agreed
                      in the TRANSACTION DOCUMENTS;

               (ii)   cause or permit its liquidation or dissolution;

               (iii)  institute, or permit to be instituted against it, any
                      proceeding, which remains undismissed for a period of
                      fifteen (15) days after the filing thereof, seeking to
                      adjudicate it as bankrupt or insolvent, or seeking
                      liquidation, winding-up, reorganization, arrangement,
                      adjustment, protection, relief or composition of it under
                      any law relating to bankruptcy, insolvency or
                      reorganization or relief of debtors, or seeking the entry
                      of any order or relief or the appointment of receiver,
                      trustee or other similar official for them or for any
                      substantial part of its property;

               (iv)   make a general assignment for the benefit of its
                      creditors;

               (v)    declare or pay any dividend or make any distribution to
                      its shareholders;

               (vi)   issue, redeem, sell or dispose of, or create any
                      obligation to issue, redeem, sell or dispose of, any
                      shares of its capital stock or equity interest;

               (vii)  effect any stock split, reclassification or combination;

               (viii) modify agreements and other obligations with respect to
                      its long-term indebtedness including, but not limited to
                      its loan agreements, indentures, mortgages, debentures,
                      notes and security agreements;

               (ix)   incur, assume, guarantee or otherwise become obligated or
                      liable for any indebtedness or encumber any of its assets
                      or enter into any transaction or

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<PAGE>

                      contract (other than the relevant TRANSACTION DOCUMENTS
                      referred to in this Agreement), or make any commitment
                      relating to its assets or business;

               (x)    become a party to any merger or consolidation or any other
                      business combination with any corporation or other entity,
                      except as contemplated by this Agreement;

               (xi)   make any acquisition of all or substantially all of the
                      stock or assets of any other person or entity;

               (xii)  take or omit to take any action which could be reasonably
                      anticipated to have a materially adverse effect upon its
                      financial condition or assets;

               (xiii) grant any DIRECTOR, officer, legal representative,
                      employee or consultant any increase in compensation in any
                      form (other than pursuant to existing employment
                      agreements) or any severance or termination pay, or enter
                      into or vary the terms of any employment agreement with
                      such person except as provided in the MANAGEMENT
                      CONTRACTS;

               (xiv)  adopt, amend in any material respect or terminate, any
                      employee benefit program of general applicability;

               (xv)   make any advance or loan or expense to any person or
                      entity, which exceeds RMB100,000, or the total of which
                      exceeds RMB2,000,000 during any thirty (30) days period;
                      or

               (xvi)  do anything that shall be approved by the BOARD or
                      Shareholders' Meeting of BPO had the TRANSACTION DOCUMENTS
                      become effective before the CLOSING.

     6.2  The VENDORS and BPO hereby irrevocably undertake to the PURCHASER to
          procure at their own expense the due execution and delivery of all
          necessary documents and to do such further acts as may be necessary to
          complete the TRANSACTION.

     6.3  From the execution date of this Agreement until the CLOSING DATE, the
          VENDOR and BPO shall ensure that the PURCHASER, its agents and
          representatives are given reasonable access to such documents relating
          to the VENDOR or BPO as the PURCHASER shall request.

     6.4  The PURCHASER shall be entitled to rescind its obligations to complete
          the TRANSACTION under this Agreement or the relevant TRANSACTION
          DOCUMENTS by notice in writing to the VENDORS if prior to the CLOSING
          it appears that any of the warranties set out in any TRANSACTION
          DOCUMENT are not or were not true and accurate in any material
          respects or if any act or event occurs which, had it occurred on or
          before the date of that TRANSACTION DOCUMENT, would have constituted a
          breach of any of the warranties, or if there is any material
          non-fulfilment of any of the warranties which (being capable of
          remedy) is not

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<PAGE>

          remedied prior to the CLOSING, unless the VENDORS have otherwise
          disclosed the same to the PURCHASER prior to the date of this
          Agreement.

     6.5  TVBI and SZCO shall not transfer any of the remaining equity interest
          in BPO to any PERSON other than the PURCHASER, the PURCHASER's
          AFFILIATE or the PURCHASER's designated third party, and of TVBI
          within two (2) years after CLOSING.

     6.6  TVBI shall provide support to BPO for its business operation, which
          shall be at a level not inferior to the supports currently available
          to BPO, during the cooperation between TVBI and the PURCHASER or any
          of its AFFILIATES or designated parties, including without limitation,
          the provision of studio, office and related facilities, and daily
          business operation support.

     6.7  The PARTIES agree that the PURCHASER shall have the right to transfer
          part or all of the equity interest or similar ownership rights in BPO
          held by the PURCHASER to an offshore company on terms and conditions
          as reasonably decided by the PURCHASER. The VENDORS hereby irrevocably
          and unconditionally consent to such transfer, and waive their right of
          first refusal in respect of the same, and covenant to implement or
          take any action necessary to complete the transfer upon reasonable
          request by the PURCHASER.

     6.8  TVBI undertakes to ensure that Hunan TV Station will not raise any
          claim against BPO relating to the intellectual property and the
          intangible assets of "Fortune Morning 7a.m.".

7.   WARRANTIES

     7.1  The VENDORS jointly and severally represent and warrant to the
          PURCHASER in the terms of the VENDORS WARRANTIES as of the date
          hereof, and acknowledge that the PURCHASER has entered into this
          Agreement in reliance upon the VENDORS WARRANTIES. the PURCHASER
          represents and warrants to TVBI as of the date hereof in the terms of
          the PURCHASER WARRANTIES, and acknowledges that the TVBI have entered
          into this Agreement in reliance upon the PURCHASER WARRANTIES.

     7.2  Each of the WARRANTIES shall be construed as a separate warranty and
          (save as expressly provided to the contrary) shall not be limited or
          restricted by reference to or interference from the terms of any other
          WARRANTY or any other term of this Agreement.

     7.3  The WARRANTIES shall be deemed to be repeated immediately as of the
          CLOSING, the time when the PURCHASER comes to effectively obtain 51%
          of the equity interest in BPO with reference to the facts and
          circumstances then existing.

     7.4  The rights and remedies of the PURCHASER in respect of any breach of
          this Agreement shall not be affected by any investigation made by or
          on behalf of the PURCHASER into the affairs of any PARTY to this
          Agreement or by the actual or constructive knowledge on the part of
          the PURCHASER, agents or advisors or by any other event or matter
          whatsoever, except a specific duly authorized written waiver or
          release given by the PURCHASER and except as otherwise expressly
          provided in this Agreement.

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<PAGE>

     7.5  Each PARTY undertakes to notify the other PARTIES in writing promptly
          if it becomes aware of any circumstance arising after the date of this
          Agreement which would cause any WARRANTY it made to other PARTY (if
          the WARRANTIES were repeated with reference to the facts and
          circumstances then existing) to become untrue or inaccurate or
          misleading in any respect.

8.   INDEMNITY

     8.1  The VENDORS, jointly and severally, shall indemnify and shall keep
          indemnified and hold harmless the PURCHASER from and against:

          (a)  any and all losses, claims, damage (including lost profits,
               consequential damage, interest, penalties, fines and monetary
               sanctions), liabilities and costs exceeding RMB10,000 incurred or
               suffered by the PURCHASER by reason of, resulting from, in
               connection with, or arising in any manner whatsoever out of the
               breach of any warranty, representation or covenant or the
               inaccuracy of any representation made by any of them or by BPO
               contained or referred to in this Agreement or in any agreement,
               instrument or document delivered by or on behalf of TVBI, SZCO,
               BPO, including, but not limited to, any diminution in the value
               of the assets of and any payment made or required to be made by
               the PURCHASER as a result of such breach, provided that the
               indemnity contained in this Clause 8 shall be without prejudice
               to any other rights and remedies available to the PURCHASER; and

          (b)  the non-fulfilment or breach of any covenant, undertaking,
               agreement or other obligation of TVBI, SZCO, BPO, the MANAGEMENT
               or any party to any of the TRANSACTION DOCUMENTS under any of the
               TRANSACTION DOCUMENTS, which result in any and all losses,
               claims, damage, liabilities and costs exceeding RMB10,000 of the
               PURCHASER, except that such non-fulfilment or breach is
               attributable to the non-fulfilment or breach by the PURCHASER of
               its obligations under any of the TRANSACTION DOCUMENTS to a
               material extent.

     8.2  The PURCHASER shall indemnify and shall keep indemnified and hold
          harmless the PURCHASER from and against the non-fulfilment or breach
          of any covenant, undertaking of the PURCHASER under any of the
          TRANSACTION DOCUMENTS, which result in any and all losses, claims,
          damage (including late penalties), liabilities and costs of the
          VENDORS, except that such non-fulfilment or breach is attributable to
          the non-fulfilment or breach by the VENDORS and/or BPO of their
          respective obligations under any of the TRANSACTION DOCUMENTS to a
          material extent.

     8.3  Notwithstanding other provisions hereof, the VENDORS shall in any case
          jointly and severally keep BPO fully indemnified and hold BPO harmless
          from and against any and all losses, claims, damages (including lost
          profits, consequential damages, interest, penalties, fines and
          monetary sanctions), liabilities and costs incurred or suffered by BPO
          by reason of, resulting from, in connection with, or arising in any
          manner whatsoever out of any litigation, action, arbitration or
          administrative proceedings, which are brought against or

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<PAGE>

          involving BPO, regardless whether such reasons have been disclosed to
          the PURCHASER or its representative.

     8.4  For the purposes of this Clause 8, "costs" includes reasonable
          lawyers' and accountants' fees and expenses, court costs and all other
          out-of-pocket expenses.

     8.5  The representations and warranties of the VENDORS and the rights of
          the PURCHASER to indemnification under this Agreement with respect
          thereto shall survive the CLOSING.

     8.6  A party entitled to indemnification hereunder (an "INDEMNIFIED PARTY")
          shall notify promptly the indemnifying party (the "INDEMNIFYING
          PARTY") in writing of the commencement of any action or proceeding
          with respect to which a claim for indemnification may be made pursuant
          to this Agreement; provided, however, that the failure of any
          Indemnified Party to provide such notice shall not relieve the
          INDEMNIFYING PARTY of its obligations under this Agreement.

     8.7  In case of any claim, action or proceeding is brought against an
          INDEMNIFIED PARTY and the INDEMNIFIED PARTY notifies the INDEMNIFYING
          PARTY of the commencement thereof, the INDEMNIFYING PARTY shall be
          entitled to participate therein and to assume the reasonable defence
          thereof, to the extent that it chooses, with counsel reasonably
          satisfactory to such INDEMNIFIED PARTY, and after notice from the
          INDEMNIFYING PARTY to such INDEMNIFIED PARTY that it so chooses, the
          INDEMNIFYING PARTY shall not be liable to such INDEMNIFIED PARTY for
          any legal or other expenses subsequently incurred by such INDEMNIFIED
          PARTY in connection with the defences thereof other than reasonable
          costs of investigation; provided, however, that (i) if the
          INDEMNIFYING PARTY fails to take reasonable steps necessary to defend
          diligently the action or proceeding within twenty (20) calendar days
          after receiving notice from such INDEMNIFIED PARTY that the
          INDEMNIFIED PARTY believes it has failed to do so; or (ii) if such
          INDEMNIFIED PARTY who is a defendant in any claim or proceeding which
          is also brought against the INDEMNIFYING PARTY reasonably shall have
          concluded that there may be one or more legal defences available to
          such INDEMNIFIED PARTY which are not available to the INDEMNIFYING
          PARTY; or (iii) if representation of both parties by the same counsel
          is otherwise inappropriate under applicable standards of professional
          conduct, then, in any such case, the INDEMNIFIED PARTY shall have the
          right to assume or continue its own defences as set forth above (but
          with no more than one firm of counsel for all INDEMNIFIED PARTIES in
          each jurisdiction), and the INDEMNIFYING PARTY shall be liable for any
          expenses therefor. For the avoidance of doubt, the expenses referred
          to in this Clause 8.7 shall be confined to the fees reasonably
          payable, as the case may be, to the counsels, lawyers, experts,
          auditors, valuers, tribunals, courts or other related parties for
          participating in the actions or proceedings.

     8.8  No INDEMNIFYING PARTY shall, without the written consent of the
          INDEMNIFIED PARTY, effect the settlement or compromise of, or consent
          to the entry of any judgment with respect to, any pending or
          threatened action or claim in respect of which indemnification may be
          sought hereunder (whether or not the INDEMNIFIED PARTY is an actual or
          potential party to such action or claim) unless such settlement,
          compromise or judgment (i) includes an unconditional release of the
          INDEMNIFIED PARTY from all liability arising out of such action

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<PAGE>

          or claim, (ii) does not include a statement as to or an admission of
          fault, culpability or a failure to act, by or on behalf of any
          INDEMNIFIED PARTY and (iii) does not include any injunctive or other
          non-monetary relief.

9.   NON-COMPETE COVENANT

     Each of the VENDORS jointly and severally undertake and covenant to the
     PURCHASER that from the date of this Agreement and for such a period of
     five(5) years, neither it nor any of its AFFILIATES will, and it shall
     procure that no PERSON who is, on the date of this Agreement or immediately
     prior to the CLOSING, its shareholder, owner, director, officer or legal
     representative will:

     (a)  either on its own account or through any of its AFFILIATES, or in
          conjunction with or on behalf of any other PERSON, will carry on or be
          engaged, concerned or interested directly or indirectly whether as
          shareholder, director, employee, partner, agent or otherwise carry on
          any business in competition with the businesses of BPO;

     (b)  either on its own account or through any of its AFFILIATES or in
          conjunction with or on behalf of any other PERSON, employ, solicit or
          entice away or attempt to employ, solicit or entice away from BPO any
          person for the purpose of carrying on any business in direct
          competition with the business of BPO who is or shall have been at the
          date of or within twelve (12) months prior to such cessation a
          director, officer, legal representative, manager, consultant or
          employee of BPO whether or not such person would commit a breach of
          contract by reason of leaving such employment; or

     (c)  The business of BPO indicated hereunder shall be limited to the
          business scope of BPO as duly registered and approved as of the date
          of this Agreement, and shall not include the newly-expanded business
          after the completion of the transactions hereunder.

10.  TERMINATION

     10.1 Without prejudice to the right to claim damages, indemnification or
          compensations or any other remedy contained herein, this Agreement may
          be terminated pursuant to the conditions set forth below prior to the
          CLOSING:

          (a)  by the PURCHASER if: (i) there is a MATERIAL ADVERSE CHANGE, or
               (ii) any representations and warranties made by a PERSON other
               than the PURCHASER contained in any TRANSACTION DOCUMENTS are not
               true or correct in any material respect when made or at the time
               when the PURCHASER effectively obtain 51% of the equity interest
               of BPO or any time in between, or (iii) any of the VENDORS has
               not complied in all material respects with the covenants or
               agreements contained in this Agreement or any TRANSACTION
               DOCUMENT to be complied with by it, or (iv) any proceeding shall
               be instituted by or against any PERSON who is a party to any of
               the TRANSACTION DOCUMENTS seeking to adjudicate it bankrupt or
               insolvent, or seeking liquidation, winding up or reorganization,
               arrangement, adjustment, protection, relief or composition of its
               debts under any law related to bankruptcy, insolvency or
               reorganization; or (v) the conditions precedent to complete the

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<PAGE>

               TRANSACTION have been changed to a material extent not
               attributable to the PURCHASER, and such change will have material
               adverse affects on the PURCHASER's rights and/or obligations
               under this Agreement, except for the conditions expressly
               provided in the TRANSACTION DOCUMENTS;

          (b)  by TVBI if: (i) any representations and warranties of the
               PURCHASER contained in this Agreement shall not have been true
               and correct in any material respect when made, (ii) the PURCHASER
               has not complied in all material respects with the covenants or
               agreements contained in this Agreement to be complied with by it
               or (iii) any proceeding is instituted by or against the PURCHASER
               seeking to adjudicate the PURCHASER bankrupt or insolvent, or
               seeking liquidation, winding up or reorganization, arrangement,
               adjustment, protection, relief or composition of its debts under
               any law related to bankruptcy, insolvency or reorganization; or
               (iv) the conditions precedent to complete the TRANSACTION have
               been changed to a material extent not attributable to the
               VENDORS, and such change will have material adverse affects on
               the VENDORS' rights and/or obligations under this Agreement,
               except for the conditions expressly provided in the TRANSACTION
               DOCUMENTS;

          (c)  by the PURCHASER or TVBI if the CLOSING has not occurred by
               December 31, 2006; provided, however, that the right to terminate
               this Agreement under this Clause 10.1(c) shall not be available
               to any PARTY whose failure to fulfil any obligation under this
               Agreement shall have been the cause of, or shall have resulted
               in, the failure of the CLOSING to occur on or prior to such date;
               or

          (d)  by the mutual written consent of the PURCHASER and TVBI.

     10.2 Effect of Termination.

          (a)  In the event of termination of this Agreement as provided in
               Clause 10.1, this Agreement shall forthwith become void provided
               that nothing herein shall relieve any party hereto from liability
               for any breach of this Agreement.

          (b)  In the event of termination of this Agreement, BPO, the VENDORS
               and the PURCHASER shall, as the case may be, execute all the
               necessary documents to ensure that the equity interests in BPO
               are restored as soon as practically possible, the costs, expenses
               and taxes arising out of which restoration and transfer-back
               shall be borne by the breaching party. If any payment has been
               made by the PURCHASER to TVBI and/or BPO, TVBI shall, and ensure
               BPO to, refund such payment in full within five (5) BUSINESS DAYS
               after the termination of this Agreement to the PURCHASER, but the
               VENDORS shall be entitled use the refund to offset the liquidated
               damages payable by it under this Agreement. For avoidance of any
               doubt, if the PURCHASER has paid BPO the INCREASED CAPITAL, the
               VENDORS and BPO shall cooperate with the PURCHASER to cause BPO
               to refund the INCREASED CAPITAL within five (5) BUSINESS DAYS
               after the termination of this Agreement. If the capital increase
               hereunder by the PURCHASER has been duly registered with SAIC,
               the VENDORS and BPO shall assist the PURCHASER in

                                       16

<PAGE>

               proceeding the capital reduction procedure of BPO as soon as
               reasonably practical, however, if this Agreement is terminated
               due to the VENDORS' breach, TVBI shall purchase the increased
               part of the equity interest in BPO subscribed by the PURCHASER at
               the price of RMB 17,000,000 as soon as possible and to the
               reasonably practicable extent and register the same with SAIC.

     10.3 For the avoidance of any doubt, after this Agreement is terminated,
          Clauses 1, 3, 8, 10, 11.3, 11.4 and 11.8 will continue to be
          effective.

     10.4 Notwithstanding other provisions hereof, if the transfer of the EQUITY
          and /or the capital increase contemplated in this Agreement fail to be
          registered with SAIC on October 31, 2006, the PURCHASER shall be
          entitled to terminate this Agreement and /or the related TRANSACTION
          DOCUMENTS by giving written notice to other PARTIES, and TVBI shall
          return to the PURCHASER the paid EQUITY TRANSFER PRICE within five (5)
          BUSINESS DAYS after receiving the notice. BPO shall refund the
          PURCHASER the paid INCREASED CAPITAL within five (5) BUSINESS DAYS
          after receiving the notice and TVBI shall ensure, and the PURCHASER
          shall assist BPO to return the INCREASED CAPITAL to the PURCHASER
          within such period.

11.  MISCELLANEOUS

     11.1 The representations, warranties and covenants contained in or made
          pursuant to this Agreement shall survive the execution and delivery of
          this Agreement and the CLOSING and shall in no way be affected by any
          investigation of the subject matter thereof made by or on behalf of
          the PURCHASER.

     11.2 The VENDORS assume joint and several liabilities for their obligations
          and the obligations of BPO under the TRANSACTION DOCUMENTS. The
          VENDORS hereby jointly and irrevocably appoint and designate TVBI to
          act on behalf of the VENDORS for the purposes of receiving the
          relevant notice, deciding, confirming and agreeing on the matters
          under this Agreement.

     11.3 Except as otherwise provided herein, the terms and conditions of this
          Agreement shall inure to the benefit of and be binding upon the
          respective successors and assigns of the PARTIES. Nothing in this
          Agreement, express or implied, is intended to confer upon any party
          other than the Parties hereto, with PURCHASER, or their respective
          successors and assigns any rights, remedies, obligations, or
          liabilities under or by reason of this Agreement, except as expressly
          provided in this Agreement. The PURCHASER may transfer all or part of
          its rights and/or obligation hereunder to an offshore company as
          nominated by the PURCHASER.

     11.4 This Agreement shall be governed by and construed in accordance with
          the laws of PRC.

     11.5 The Parties shall strive to settle any dispute, controversy or claim
          arising out of or relating to this Agreement, or the breach,
          termination or invalidity thereof through amicable negotiation. In
          case no settlement can be reached through consultations with 60 days
          of

                                       17

<PAGE>

          the date of notification by one PARTY to the other PARTIES, then such
          dispute, including a dispute as to the validity or existence of this
          Agreement, shall be resolved by China International Economic and Trade
          Arbitration Commission, Shanghai Branch ("CIETAC") in Shanghai
          conducted in Chinese and English pursuant to its prevailing
          arbitration rules, The tribunal shall consist of three (3)
          arbitrators, one (1) to be appointed by the PURCHASER, one (1) by the
          Vendors and the third and presiding arbitrator to be jointly appointed
          by the PURCHASER and the VENDORS. If, within twenty (20) days after
          CIETAC gives notice to the PURCHASER and the VENDORS of the
          appointment, the PURCHASER and the VENDORS fail to jointly appoint the
          presiding arbitrator, it shall be appointed by the chairman of CIETAC.
          During the period when a dispute is being resolved, the PARTIES shall
          in all respects other than the issue(s) in dispute continue their
          performance of this Agreement.

     11.6 The arbitral award shall be final and binding upon the Parties. The
          arbitral award may be enforced by filing as judgment in any court
          having jurisdiction, or application may be made to such court for
          assistance in enforcing the award, as the case may be. Any arbitration
          expense shall be paid by the losing Party or as fixed by the arbitral
          tribunal. If it becomes necessary for a Party to enforce an arbitral
          award by legal action of any kind, the defaulting Party shall pay all
          reasonable costs and expenses and attorney's fee including, but not
          limited to, any cost of additional litigation or arbitration that
          shall be incurred by the Party seeking to enforce the award.

     11.7 The titles and subtitles used in this Agreement are used for
          convenience only and are not to be considered in construing or
          interpreting this Agreement.

     11.8 Unless otherwise provided hereunder, any notice required or permitted
          under this Agreement shall be given in writing and shall be deemed
          effectively given: (1) upon personal delivery to the party to be
          notified with written receipt; or (2) by registered or certified mail,
          and addressed to the party to be notified at the address indicated for
          such party in this Clause 11.8 in which case it shall be deemed to
          have been delivered three BUSINESS DAYS after the date of posting ; or
          (3) by facsimile at the facsimile number set out in this Clause 11.8
          by a transmission report and oral confirmation of receipt (which shall
          be noted and initialled by the sender in writing), but if any notice
          by facsimile is sent after 17:00 hours at the place of receipt on any
          BUSINESS DAY or at any time on a non-BUSINESS DAY at the place of
          receipt, such notice shall be deemed to have been delivered at 09:00
          hours at the place of receipt on the next BUSINESS DAY.

          The addresses and fax numbers of the parties for the purpose of this
          Clause are as follows:

          The PURCHASER:
          Address:                 Unit 3905 1 Grand Gateway, 1 Hongqiao Road,
                                   Shanghai, PRC 200030
          Fax:                     021-64484956
          For the attention of:    Mr. Liu Yang

          TVBI:

                                       18

<PAGE>
           Address:                Jinying Intermediary & Culture City, Liuyang
                                   River Bridge East, Changsha, Hunan Province,
                                   PRC, 410003
           Fax:                    0731-4251888
           For the attention of:   Mr. Zhou Jingdong

           SZCO
           Address:                Unit B, 23F, Shenzhen Special Zone Press
                                   Tower, Futian District, Shenzhen, PRC, 518009
           Fax:                    0755-83515115
           For the attention of:   Mr. Xiong Weiyn

           BPO
           Address:                Mailbox 66, No. 46 Taiping Road, Haidian
                                   District, Beijing, PRC, 100857
           Fax:                    010-88278838
           For the attention of:   Mr. Cai Qizhi

     11.9  Each of the PARTIES hereto shall be responsible for its own costs and
           expenses incurred in the preparation, negotiation and execution of
           this Agreement.

     11.10 If one or more provisions of this Agreement are held to be
           unenforceable under applicable law, such provision shall be excluded
           from this Agreement and the balance of the Agreement shall be
           interpreted as if such provision was so excluded and shall be
           enforceable in accordance with its terms.

     11.11 The TRANSACTION DOCUMENTS supersedes all other previous agreements
           and constitute the entire agreement among the PARTIES and no PARTY
           shall be liable or bound to any other PARTY in any manner by any
           warranties, representations, or covenants except as specifically set
           forth herein or therein. In case this Agreement is in conflict with
           any other TRANSACTION DOCUMENTS, this Agreement shall prevail.

     11.12 This Agreement shall be executed in both Chinese and English, both of
           which shall be of the same effect.

     11.13 This Agreement shall become effective upon signing by the duly
           authorized representatives of the PARTIES or affixing the company
           chops of the PARTIES.

EXECUTION PAGE FOLLOWS

                                       19

<PAGE>

IN WITNESS WHEREOF, the PARTIES have executed this Agreement as of the date
first above written.

The PURCHASER

For and on behalf of BEIJING CENTRAL MEDIA CO., LTD.
Per:
[Company chop of Beijing Central Media Co., Ltd.(i.e. Beijing Century Media Co.,
Ltd.)]
             /s/
------------------------------
Authorized Signatory

TVBI

For and on behalf of HUNAN TV & BROADCAST INTERMEDIARY CO., LTD.,
Per:
[Company chop of Hunan TV & Broadcast Intermediary Co., Ltd.]
             /s/
------------------------------
Authorized Signatory

SZCO

For and on behalf of SHENZHEN RONGHAN INVESTMENT CO., LTD.
Per:
[Company chop of Shenzhen Ronghan Investment Co., Ltd.]
             /s/
------------------------------
Authorized Signatory

BPO

For and on behalf of BEIJING PERSPECTIVE ORIENT MOVIE AND TELEVISION
INTERMEDIARY CO., LTD.
Per:
[Company chop of Beijing Perspective Orient Movie and Television Intermediary
Co., Ltd.]
             /s/
------------------------------
Authorized Signatory

                                       20

<PAGE>
                                   SCHEDULE A
                            CORPORATE DETAILS OF BPO

<Table>
<S>                                            <C>
Date and place of Incorporation                Established in Beijing on September 25, 2000

Registered Address                             No. 5 Building, No. 46 Taiping Road, Haidian District, Beijing

Registered capital                             RMB100,000,000

Paid in capital                                RMB100,000,000

Shareholder                                    Hunan TV & Broadcast Intermediary Co., Ltd.

                                               Shenzhen Ronghan Investment Co., Ltd.

Directors                                      Liu Shabai
                                               Tan Qun
                                               Cai Qizhi
                                               Li Nan
                                               Zhang Xiaoge
                                               He Yaoxiong
                                               Ou Zhiang
</Table>

                                       21
<PAGE>
                                   SCHEDULE B
                          CLOSING CONDITIONS PRECEDENT

The PURCHASER's obligations to consummate the TRANSACTIONS contemplated by this
Agreement is subject to the fulfilment of each of the following conditions:

1.   Conditions Precedent for the TRANSACTION

     (a)  The Parties has taken all corporate actions to execute and implement
          each of the TRANSACTION DOCUMENTS, and each of the TRANSACTION
          DOCUMENTS, together with relevant contracts, agreements and other
          documents, have been entered into by each of the PARTIES thereto and
          become effective;

     (b)  The due diligence review on BPO has been completed with an outcome
          satisfactory to the PURCHASER;

     (c)  TVBI and Hunan Economic TV Station have respectively issued a written
          confirmation to BPO that all intangible assets and rights in
          connection with TV program "Fortune", "Fortune China" and other
          derivative programs are in substantially the same form and content as
          provided in Schedule H, which provides that TVBI and Hunan TV Station
          irrevocably waive all their rights and interests in relation to the
          above-mentioned programs and all such waived rights and interests
          shall be solely held by BPO;

     (d)  The effective Organization Identity Code Certificates of BPO and BPOA
          have been issued;

     (e)  Each member of the MANAGEMENT has entered into an employment agreement
          with BPO in a form satisfactory to the PURCHASER;

     (f)  TVBI has remedied its default in capital contribution by paying RMB
          3,145,850.37 to BPO, and the receivables and the payables as listed in
          Schedule I have been set-off and written off in the manner, and
          subject to the terms and conditions, as set forth Schedule I;

     (g)  The PURCHASER has increased its registered capital to RMB29,000,000
          and has duly registered such with SAIC;

     (h)  The TRANSACTION has been approved by the board of directors of the
          PURCHASER and TVBI; and

     (i)  The agreement in respect of cooperation of Money Magazine in the
          Agreed Form as set forth in Appendix 3 hereof has been entered into by
          and between the relevant parties.

2.   Conditions Precedent for the CLOSING

     (a)  All governmental approvals, registrations and filings for the
          TRANSACTION have been obtained or completed;

                                       22
<PAGE>
     (b)  BPO has completed its registration with SAIC in respect of the
          following: (1) the transfer of 43.67% equity interest in BPO from TVBI
          to the PURCHASER; (2) the capital increase of RMB 17,000,000 in BPO by
          the PURCHASER; and (3) the AMENDED AOA;

     (c)  BPO has delivered to the PURCHASER all documents required for the
          appointment of new DIRECTORS pursuant to the AMENDED AOA and relevant
          registration procedure, including without limitation the shareholders'
          meeting, the resignation letter signed by the current DIRECTORS, and
          the application documents signed by the chairman of the current BOARD.

                                       23
<PAGE>
                                   SCHEDULE C
                  DOCUMENTS DELIVERABLES AT OR PRIOR TO CLOSING

(a)  The VENDORS shall ensure that BPO delivers to the PURCHASER at or prior to
     the CLOSING the executed original versions (or copies where the PURCHASER
     has agreed to accept) of all of the agreements, resolutions, certificates,
     approvals and documents referred to in Clause 2 of this Agreement, and all
     other documents, with which the PURCHASER will determine whether the
     CLOSING CONDITIONS PRECEDENT set out in Schedule B have been fulfilled.

(b)  Without limiting the generality of the forgoing, the VENDORS shall ensure
     that BPO shall deliver to the PURCHASER the original of the following
     documents before the CLOSING DATE:

     (i)  an original capital contribution certificate issued to the PURCHASER
          in the agreed form evidencing that the PURCHASER holds 51% equity
          interest in BPO;

     (ii) an original or copy of the shareholders registry to the satisfaction
          of the PURCHASER, evidencing that the PURCHASER holds 51% equity
          interest in BPO;

(c)  The Vendors shall deliver the following documents to the PURCHASER for
     inspection and confirmation:

     (i)  the NEW BUSINESS LICENSE, the Social Insurance Registration
          Certificate, the License for Production and Operation of Broadcasting
          and Television Program; and

     (ii) all previous Capital Verification Report of BPO.

                                       24
<PAGE>
                                   SCHEDULE D
                               VENDORS WARRANTIES

PART A: GENERAL

(a)  Full Disclosure. (i) TVBI, SZCO and BPO are not aware of any facts which
     could materially adversely affect themselves or which are likely in the
     future to materially adversely affect any of them and which have not been
     disclosed to the PURCHASER by or on behalf of BPO in connection with or
     pursuant to this Agreement. (ii) No representation or warranty in this
     Agreement, nor any statement or certificate furnished or to be furnished to
     the PURCHASER pursuant to or in connection with this Agreement contains or
     will contain any untrue statement of material fact, or omits or will omit
     to state a material fact necessary to make the statements contained herein
     or therein misleading.

(b)  All written documents delivered by TVBI, SZCO and BPO to the PURCHASER
     before or on the execution date of this Agreement were when given, and
     remains, true, complete and accurate in all respects and not misleading.
     Neither of the VENDORS is aware of any fact or matter or circumstances not
     disclosed to the PURCHASER which renders any such information untrue,
     inaccurate or misleading or the disclosure of which might reasonably affect
     the willingness of the PURCHASER to conduct the TRANSACTION on terms upon
     which the PURCHASER would be willing to do the same.

PART B: WARRANTIES IN RESPECT OF THE VENDORS AND BPO IN GENERAL

(a)  Organization, Standing, and Power. It is a company and legal person entity
     duly organized and validly existing, and in good standing under the laws of
     PRC, has all requisite corporate power and authority to carry on its
     businesses, and is duly qualified and in good standing to do business in
     each jurisdiction in which it conducts business.

(b)  Authorization. The execution, delivery, and performance of the TRANSACTION
     DOCUMENTS to be entered into by it have been duly authorized by all
     necessary action of its board or other appropriate organization. The
     certified copies of the resolutions adopted by its board or other
     appropriate organization approving the TRANSACTION DOCUMENTS and
     TRANSACTIONS contemplated hereby and thereby have been provided to the
     PURCHASER.

(c)  Execution. It has duly and validly executed and delivered the TRANSACTION
     DOCUMENTS naming it as a party, and such TRANSACTION DOCUMENTS constitute
     valid, binding, and enforceable obligations of it in accordance with their
     terms, except to the extent that enforceability may be limited by
     applicable bankruptcy, reorganization, insolvency, moratorium or other laws
     affecting the enforcement of creditors' rights generally and by general
     principles of equity, regardless of whether such enforceability is
     considered in a proceeding at law or in equity.

PART C: WARRANTIES IN RESPECT OF BPO AND ITS AFFILIATES

Reference to BPO in this Part C shall include each company directly or
indirectly controlled by BPO.

                                       25
<PAGE>
(a)  Corporate Records. It has made available to the PURCHASER complete and
     correct copies of all the documents as set out under Schedule J hereto,
     including but not limited to, its business license, articles of
     association, tax registration certificates, registers and/or other
     organizational documents ("CONSTITUTIONAL DOCUMENTS"), in each case, as
     amended to the date hereof. It has delivered to the PURCHASER complete and
     correct copies of its board resolutions and shareholders' resolutions,
     which are in consistency with the originals and shall include all board
     resolutions and shareholders' resolutions without omission.

(b)  Capital Structure.

     (i)  Set out in Schedule A is its registered capital on the date hereof.

     (ii) There are no options, warrants, calls, conversion rights, commitments,
          agreements, contracts, restrictions, or rights of any character to
          which it is a party or by which it may be bound obligating it to
          issue, deliver or sell, or cause to be issued, delivered or sold,
          additional equity interest, or obligating it to grant, extend or enter
          into any such option, warrant, call, conversion right, commitment,
          agreement, contract, understanding, restriction, arrangement or right.
          It does not have outstanding bonds, debentures, notes or other
          indebtedness. Except for the debts provided in the balance sheet as of
          the LAST ACCOUNTS DATE as set forth in Schedule N, the company does
          not have any debts undisclosed in the balance sheet.

(c)  Subsidiaries. Except for BPOA and Beijing Jingshi Orient Culture
     Broadcasting Co., Ltd., it does not presently own or CONTROL, directly or
     indirectly, any interest in any other company, association, or other
     business entity, and is not a participant in any joint venture,
     partnership, or similar arrangement. Its particulars as set out in Schedule
     A and its registered capital are clear of all ENCUMBRANCES. Save as
     expressly provided in the TRANSACTION DOCUMENTS, there is no agreement or
     arrangement in force which calls for the present or future issue or sale
     of, or grant to any person the right (whether conditional or otherwise) to
     call for the issue, sale or transfer of any of its equity interest or loan
     capital (including any of its option, notes, warrants or other securities
     or rights convertible or ultimately convertible into equity interests).

(d)  Compliance with Laws and Other Instruments. It holds and, at all times, has
     held all licenses, permits, and authorizations from all Governmental
     Entities necessary for the lawful conduct of its business pursuant to all
     applicable PRC statutes, laws, ordinances, rules, and regulations of all
     such authorities having jurisdiction over it or any part of its operations.
     Except for the Organization Identity Code Certificate and the State Tax
     Registration Certificate of BPO and BPOA to be obtained, there are no
     violations or claimed violations of any such license, permit, or
     authorization, or any such statute, law, ordinance, rule or regulation. It
     has conducted its activities in compliance with all applicable laws and
     regulations and there has been no breach of any laws or regulations
     applicable to it.

(e)  Corporate Governance. Neither the execution and delivery of the TRANSACTION
     DOCUMENTS naming it as a party nor the performance by it of its obligations
     under such TRANSACTION DOCUMENTS will (i) conflict with or result in any
     breach of its CONSTITUTIONAL DOCUMENTS; (ii) require any Consents; or (iii)
     conflict with, result in a breach or default of, or give rise to any right

                                       26
<PAGE>
     of termination, cancellation or acceleration or result in the creation of
     any lien, charge, Encumbrance, or restriction upon any of the properties or
     assets of it or its equity interest under, any law, statute, rule,
     regulation, judgment, decree, order, government permit, license or order or
     any mortgage, indenture, note, license, trust, agreement or other
     agreement, instrument or obligation to which it is a party.

(f)  LAST ACCOUNTS and Changes.

     (i)   The LAST ACCOUNTS give a true and fair view of the state of affairs
           of BPO as at the LAST ACCOUNTS DATE;

     (ii)  The LAST ACCOUNTS of BPO either has made full provision for or
           disclosed all liabilities (whether actual, contingent or disputed and
           including pension liabilities), all outstanding capital commitments
           and all bad or doubtful debts of BPO as at the LAST ACCOUNTS DATE;

     (iii) Since the LAST ACCOUNT DATE, there has not been any of the following
           events, except that such events have been disclosed to the PURCHASER
           in wiring on the execution date of this Agreement:

           (1)  any transaction entered into by it other than in the ordinary
                course of business;

           (2)  any declaration, payment, or setting aside of any dividend or
                other distribution to or for any of its shareholders;

           (3)  any termination, modification, or rescission of or waiver by it
                of rights under any contract having or reasonably likely to have
                a MATERIAL ADVERSE CHANGE on its business;

           (4)  any discharge or satisfaction by it of any ENCUMBRANCE, or any
                payment of any obligation or liability (absolute or contingent)
                other than liabilities incurred in the ordinary course of
                business;

           (5)  any mortgage, pledge, imposition of any security interest,
                claim, ENCUMBRANCE, or other restriction created on any of the
                assets, tangible or intangible, of it having or reasonably
                likely to have a MATERIAL ADVERSE CHANGE on its business;

           (6)  any settlement of any claim, dispute, suit, proceeding or
                investigation regarding it; or

           (7)  any event or condition resulting in a MATERIAL ADVERSE CHANGE on
                its business.

(g)  Litigation and Other Proceedings. It is not nor is any of its officers,
     directors, or employees a party to any pending or, threatened action, suit,
     labour dispute (including any union representation proceeding), proceeding,
     investigation, or discrimination claim in or by any court or governmental
     board, commission, agency, department, or officer, or any arbitrator,
     arising from its actions or omissions or, in the case of an individual,
     from acts in his or her capacity as its

                                       27
<PAGE>
     officer, director, employee, agent or contractor, which individually or in
     the aggregate would have a MATERIAL ADVERSE CHANGE on its business. It is
     not a named party to any order, writ, judgment, decree, or injunction.

(h)  No Defaults. It is not, nor has it received written notice that it would be
     with the passage of time, in default or violation of any term, condition,
     or provision of (i) its CONSTITUTIONAL DOCUMENTS; (ii) any judgment,
     decree, or order to which it is a named party; or (iii) any loan or credit
     agreement, note, bond, mortgage, indenture, contract, agreement, lease,
     license, or other instrument to which it is a party or by which it or any
     of its properties or assets is bound, except for defaults and violations
     which have been cured or, individually or in the aggregate, would not have
     a MATERIAL ADVERSE CHANGE on its business.

(i)  Major Contracts. Except for the agreements set out in Schedule K (the
     "EXISTING CONTRACTS") it is not a party to or bound by any agreement,
     contract, lease or indemnity which is with an amount in excess of RMB
     100,000, or which might be reasonably expected to have a material effect on
     the prospects, business, operations or financial condition of BPO taken as
     a whole.

     All the EXISTING CONTRACTS are valid and in full force and effect and it
     has not nor has any other party thereto breached any material provisions
     of, or entered into default in any material respect under the terms thereof
     other than such beaches or defaults that have been cured or would not,
     individually or in the aggregate, have a MATERIAL ADVERSE CHANGE on its
     business. It has made available to the PURCHASER a copy of each of the
     EXISTING CONTRACTS specified in Schedule K together with all amendments,
     material written waivers or other material written changes thereto.

(j)  Assets. The assets owned, possessed or used by it comprise all the assets
     required to enable it to carry on its business fully and effectively in the
     ordinary course. It has legal and beneficial ownership of all assets owned,
     possessed or used by it free and clear of all ENCUMBRANCES. No other PERSON
     owns any property and assets which are being used by it except for the
     property leased by it pursuant to the EXISTING CONTRACTS.

(k)  Programme Licenses BPO has duly obtained, or maintained and kept effective
     all the licenses and permits to conduct the current business, including but
     not limited to the License for Production of Teleplay (Class B) and the
     License for Production and Operation of Broadcasting and Television
     Program, and has not conducted the business outside the scope of such
     licenses and permits.

(l)  Technology and Intellectual Property Rights.

     (i)  Schedule M contains a list of INTELLECTUAL PROPERTY which includes the
          following:

          (1)  all patents, domain names, trademarks, trade names, trade dress
               and service marks, and any applications and registrations for any
               of the foregoing, that is included in the OWNED INTELLECTUAL
               PROPERTY;

          (2)  all registered and unregistered copyrights, and applications for
               registered copyrights for any OWNED INTELLECTUAL PROPERTY;

                                       28
<PAGE>
          (3)  all material products and services that currently are published
               and/or offered by it, or that are currently under development by
               it and scheduled to be commercially released or offered prior to
               the CLOSING DATE;

          (4)  all licenses and sublicenses of the OWNED INTELLECTUAL PROPERTY;

          (5)  all LICENSED INTELLECTUAL PROPERTY and any sublicenses thereto;
               and

          (6)  any material obligation of exclusivity, non-competition,
               non-solicitation, first negotiation or "most favoured nation" or
               "equally favoured nation" (e.g., obligating it to provide terms
               as favourable or more favourable as granted to others) to which
               it is subject under any agreement that does not fall within the
               ambit of (4) or (5) in this paragraph.

     (ii)   BPO has the right to use all INTELLECTUAL PROPERTY used or held for
            use in the conduct of its business without any conflict with the
            rights of others. All products and technology that have been or
            currently are published and/or offered by it or are under
            development by it, and all products and/or technology underlying any
            and all services that have been or currently are offered by it or
            are under development by it is either: (1) owned by it, (2) in the
            public domain, or (3) rightfully used by the it pursuant to a valid
            written license or other agreement.

     (iii)  BPO is not, as a result of the execution or delivery of this
            Agreement and/or the ancillary agreements, nor the performance of
            its obligations under them will cause it to be in violation of any
            license, sublicense or other agreement relating to the INTELLECTUAL
            PROPERTY or of any non-disclosure agreement to which it is a party
            or otherwise bound.

     (iv)   BPO is not obligated to provide any financial consideration or other
            consideration to any third party, nor is any third party otherwise
            entitled to any financial consideration or other consideration, with
            respect to any exercise of rights by it or its successors in the
            INTELLECTUAL PROPERTY.

     (v)    BPO's use, reproduction, modification, distribution, licensing,
            sublicensing, sale, or any other exercise of rights in any OWNED
            INTELLECTUAL PROPERTY by it or its licensees does not infringe,
            misappropriate or violate any copyright, patent, trade secret,
            trademark, service mark, trade name, company name, logo, trade
            dress, database right, other intellectual property right, right of
            privacy, right of publicity or right in personal or other data of
            any person. Further, the use, reproduction, modification,
            distribution, licensing, sublicensing, sale, or any other exercise
            of rights in any LICENSED INTELLECTUAL PROPERTY or any other
            authorized exercise of rights in or to LICENSED INTELLECTUAL
            PROPERTY by it or its licensees does not infringe, misappropriate or
            violate any copyright, patent, trade secret, trademark, service
            mark, trade name, firm name, logo, trade dress, moral right,
            database right, other intellectual property right, right of privacy,
            right of publicity or right in personal or other data of any person.
            Further, the distribution, licensing, sublicensing, sale, or other
            provision of products and services by it or its resellers or
            licensees does not infringe, misappropriate or

                                       29
<PAGE>
            violate any copyright, patent, trade secret, trademark, service
            mark, trade name, firm name, logo, trade dress, moral right,
            database right, other intellectual property right, right of privacy,
            right of publicity or right of any person.

     (vi)   No action, suit or proceeding, pending or otherwise, (i) challenging
            the validity, enforceability, or ownership by it of any of OWNED
            INTELLECTUAL PROPERTY or (ii) to the effect that the use,
            reproduction, modification, manufacturing, distribution, licensing,
            sublicensing, sale or any other exercise of rights in any OWNED
            INTELLECTUAL PROPERTY by it or its licensees infringes,
            misappropriates or violates any intellectual property or other
            proprietary or personal right of any person is pending or is
            threatened by any person. Further, no claim to the effect that the
            distribution, licensing, sublicensing, sale or other provision of
            products and services by it or its resellers or licensees infringes,
            misappropriates or violates any intellectual property or other
            proprietary or personal right of any person is pending or, to the
            knowledge of BPO, is threatened by any person. There is no
            unauthorized use, infringement or misappropriation of any of OWNED
            INTELLECTUAL PROPERTY by any third party, employee or former
            employee.

     (vii)  No other party has any security interest in any Intellectual
            Property.

     (viii) BPO has secured from all parties who have created any portion of, or
            otherwise have any rights in or to, OWNED INTELLECTUAL PROPERTY,
            other than employees of itself whose work product was created by
            them entirely within the scope of their employment by it and
            constitutes work made for hire owned by it, valid written
            assignments or licenses of any such work or other rights to it that
            are enforceable by it and has made available true and complete
            copies of such assignments or licenses to the PURCHASER.

     (ix)   BPO owns all right, title and interest in and to all data it
            collects from or discloses about users of its products and services.
            Its practices regarding the collection and use of consumer personal
            information are in accordance in all respects with applicable laws
            and regulations of all jurisdictions in which it operates.

     (x)    No officer, director, shareholder or employee of BPO, nor any
            spouse, or relative thereof, owns directly or indirectly, in whole
            or in part, any INTELLECTUAL PROPERTY.

(m)  Employees. The employment agreements with all of its employees (including
     any contracts relating to the temporary use or dispatch of employees) can
     be terminated pursuant to the laws, and except for the severance payments
     generally payable pursuant to the mandatory requirements as set forth by
     the laws, BPO will not be required to make any other payments. It is not a
     party to any pending or threatened labour dispute concerning its business
     or employment practices or the subject of any organizing drive, labour
     grievance or petition to certify a labour union. It has complied with all
     applicable laws, treaties, ordinances, rules, and regulations and
     requirements relating to the employment of labour. There are no claims
     pending or threatened to be brought against it in any court or
     administrative agency by any of its former or current employees. The core
     employees are and will remain employed by BPO (for avoidance of any doubt,
     "core" employee in this paragraph means the employee whom the PURCHASER may
     consider essential to BPO or its business).

                                       30
<PAGE>
(n)  Certain Agreements. Neither the execution nor the delivery of this
     Agreement and the TRANSACTION DOCUMENTS nor the performance of its
     obligations contained in them will:

     (i)   result in any payment by it (including severance, unemployment
           compensation, parachute payment, bonus or otherwise) becoming due to
           any director, employee, or independent contractor of it under any
           employee benefit plan, agreement, or otherwise,

     (ii)  increase any benefits otherwise payable under any employee benefit
           plan or agreement, or

     (iii) result in the acceleration of the time of payment or vesting of any
           such benefits.

(o)  Guarantees and Suretyships. It does not have any powers of attorney
     outstanding and it does not have any obligations or liabilities (absolute
     or contingent) as guarantor, surety, co-signer, endorser, co-maker, or
     otherwise respecting the obligations or liabilities of any person,
     corporation, partnership, joint venture, association, organization, or
     other entity other than as an endorser of negotiable instruments in the
     ordinary course of business.

(p)  Absence of Questionable Payments. It has not nor has any of its respective
     AFFILIATES, directors, officers, agents, employees or other persons acting
     on their behalf, used any corporate or other funds for unlawful
     contributions, payments, or established or maintained any unlawful or
     unrecorded funds, and has not used any corporate fund of huge amount, which
     may materially affect the normal operation of the company.

(q)  Taxes.

     (i)   No deficiencies or adjustments for any of its tax has been claimed,
           proposed or assessed or threatened in writing and not paid. There is
           currently no claim outstanding by an authority in a jurisdiction
           where it does not file PRC Returns that it is or may be subject to
           taxation by that jurisdiction. It is not subject to any pending or
           threatened tax audit or examination. It has not entered into any
           agreements, waivers or other arrangements in respect of the statute
           of limitations in respect of its taxes or PRC Returns.

     (ii)  For the purposes of this Agreement, the terms "tax(es)" shall include
           all taxes, assessments, duties, tariffs, registration fees, and other
           governmental charges in the nature of taxes including, all enterprise
           income tax, property tax, business tax and additional, license fee,
           value added tax, withholding tax, consumption tax and other taxes, as
           well as any interest, additions or penalties relating thereto and any
           interest in respect of such additions or penalties.

(r)  Leases in Effect; Real Estate. All real property leases and subleases to
     which it is a party and any amendments or modifications thereof are listed
     in Schedule L (each a "PRC LEASE" and, collectively, the "PRC LEASES"). It
     has a valid leasehold interest under such PRC Leases. There are no existing
     defaults, and it has not received or given any written notice of default or
     claimed default with respect to any PRC LEASE and there is no event that
     with notice or lapse of

                                       31
<PAGE>
     time, or both, would constitute a default thereunder. All real property
     occupied by it is subject to a written lease. It holds no interest in real
     property other than the PRC LEASES.

(s)  Company Property. It has valid title, free and clear of all title defects,
     security interests, pledges, options, claims, liens, and ENCUMBRANCES of
     any nature whatsoever to all inventory, receivables, furniture, machinery,
     equipment, and other properties since its establishment.

                                       32

<PAGE>
                                   SCHEDULE E
                            THE PURCHASER WARRANTIES

The PURCHASER hereby represents and warrants to the VENDORS that each of the
following statements is true:

(a)  ORGANISATION AND QUALIFICATION. It is a person or a legal entity duly
     organised and validly existing under the laws of its jurisdiction of
     incorporation.

(b)  AUTHORISATION. It has taken all corporate or other action required to
     authorise, and has duly authorised, the execution, delivery and performance
     of this Agreement and upon due execution and delivery the same will
     constitute its legal, valid and binding obligations enforceable in
     accordance with its terms.

(c)  POWER AND AUTHORITY. It has full power and authority to make the covenants
     and representations referred to herein and to purchase the EQUITY and to
     execute, deliver and perform this Agreement.

                                       33
<PAGE>

                                   SCHEDULE F
                    MANAGEMENT TEAM AND KEY EMPLOYEES OF BPO

[List of management team and key employees]

                                       34
<PAGE>

                                   SCHEDULE G
                               MANAGEMENT CONTRACT

[Management contract between BPO and its executives]

                                       35
<PAGE>

                                   SCHEDULE H
                                  WAIVER LETTER

TO: BEIJING CENTRAL MEDIA CO., LTD.
    BEIJING PERSPECTIVE ORIENT MOVIE & TELEVISION INTERMEDIARY CO., LTD.

Whereas:

(1)  Beijing Central Media Co., Ltd. and Hunan TV & Broadcast Intermediary Co.,
     Ltd. ("TVBI"), Shenzhen Ronghan Investment Co., Ltd., and Beijing
     Perspective Orient Movie & Television Intermediary Co., Ltd. ("BPO") Have
     entered into a Strategic Partnership Agreement ("PARTNERSHIP AGREEMENT")
     with respect to the equity transfer and capital increase of BPO on [ ],
     2006;

(2)  The key business of BPO is to produce the TV programs of
     "Fortune", "Fortune China", and their derivative programs ("FORTUNE
     PROGRAM").

To secure the operation of key business of BPO, TVBI, Hunan Economic TV Station,
and Hunan Life Channel Co., Ltd. (together "WE"), as the participants to the
FORTUNE PROGRAM, hereby make the following statements unconditionally and
irrevocably:

1.   WE represent and warrant that, except for the intellectual properties and
     intangible assets relating to the FORTUNE PROGRAM enjoyed by WE upon the
     issuance date of this Waiver, all other intellectual properties and
     intangible assets relating to the FORTUNE PROGRAM belong to BPO, and there
     are no third party claims with respect to the intellectual properties and
     the intangible assets of the FORTUNE PROGRAM.

2.   WE represent and warrant that we have not entered into, or authorized any
     third party to enter into, any license agreement or transfer agreement with
     respect to the intellectual properties or intangible assets relating to the
     FORTUNE PROGRAM.

3.   WE undertake that, if WE have any right to the intellectual properties and
     intangible assets relating to FORTUNE PROGRAM upon the issuance date of
     this Waiver Letter, WE hereby irrevocably agree to transfer such
     intellectual properties or intangible assets to BPO and waive any existing
     or future claim for the rights and interests to such intellectual
     properties or intangible assets.

4.   WE undertake that, if the transfer of intellectual properties and
     intangible assets under Clause 1 takes place, WE will ensure that such
     transfer be completed as soon as practicable, and if such intellectual
     properties and/or intangible assets is unable to be transferred, WE will
     use such intellectual properties and/or intangible assets in accordance
     with BPO's instructions.

5.   WE undertake that, from the issuance of this Waiver to the completion date
     of the transfer under Clause 3, WE will not use, or license, or transfer,
     any intellectual properties or

                                       36
<PAGE>

     intangible assets relating to the FORTUNE PROGRAM to a thirty party without
     obtaining the prior written consent from BPO.

6.   WE acknowledge that, if BPO suffers any loss due to the reason that the
     representations and warranties hereunder is incorrect or WE breached the
     undertakings hereunder, WE will indemnify all losses incurred by BPO.

This Waiver shall be executed in five (5) copies, and become effective upon
signing by the respective authorized representative of TVBI, Hunan Economic TV
Station, and Hunan Life Channel Co., Ltd., or upon affixing chops by TVBI, Hunan
Economic TV Station, and Hunan Life Channel Co., Ltd.

                                       37
<PAGE>

Execution Page

HUNAN TV & BROADCAST INTERMEDIARY CO., LTD.

Authorized Representative:
                           --------------------------

HUNAN ECONOMIC TV STATION

Authorized Representative:
                           --------------------------

HUNAN LIFE CHANNEL CO., LTD.

Authorized Representative:
                           -----------------------

Date: [         ], 2006
-----------------------

                                       38
<PAGE>
                                   SCHEDULE I
                            PAYABLES AND RECEIVABLES

          (a) Details of receivables and payables of BPO to written off

<Table>
<Caption>

     Items                  Against                     Amount (RMB)       Note               Aggregate
<S>             <C>                                    <C>            <C>                   <C>
Receivables     Beijing Tianxie Advertising             8,148,000.00  bad loan
                Hunan Life Channel                        573,021.00  bad loan              13,483,524.10
                Beijing Shengshi Movie                  4,762,503.10  bad loan
                Hunan Huilin                            3,000,000.00  mutual offset         15,000,000.00
                Hunan Movie Centre                     12,000,000.00  mutual offset

Payables        TV and Broadcast Program                1,880,010.31  mutual offset
                 Branch Company
                TV and Broadcast Media                  8,251,271.73  mutual offset         10,131,282.04
                 Head Office

Balance of receivables and payables        15,000,000.00 - 10,131,282.04 =                  4,868,717.96
Insufficient payment of registered capital from TVBI                                        3,145,850.37
consolidated receivables among affiliates    4,868,717.96 - 3,145,850.37 =                  1,722,867.59
Total write off                             13,483,524.10 + 1,722,867.59 =                  15,206,391.69
</Table>

(b)    The balance of mutual offset is RMB 4,868,717.96 Yuan receivables, which,
       according to BPO, includes the overdue payment of registered capital by
       TVBI in the amount of RMB 3,145,850.37 Yuan.

(c)    Solution of receivables and payables:
       TVBI shall pay back the said amount (RMB 3,145,850.37 Yuan) to BPO, after
       which BPO will write off the receivables at the total amount of
       RMB15,206,391.69 Yuan.

(d)    Subject to the forgoing, the PURCHASER confirms that, the write-off of
       the aforesaid receivables of RMB15,206,391.69 by BPO will cause the
       reduction in the net assets value accordingly. However, this will not
       affect the payment of consideration by the PURCHASER to TVBI, and the
       PURCHASER will not ask the VENDORS to bear any extra obligations,
       including without limitation the indemnification or compensation,
       provided that TVBI has paid back the overdue capital contribution to BPO
       before Closing.

                                       39
<PAGE>
                                   SCHEDULE J
                         CONSTITUTIONAL DOCUMENTS OF BPO

                                       40
<PAGE>
                                   SCHEDULE K
                               EXISTING CONTRACTS

[List of exhibit contracts]

                                       41
<PAGE>

                                   SCHEDULE L
                                     LEASES

[List of existing leases]

                                       42
<PAGE>

                                   SCHEDULE M
                          INTELLECTUAL PROPERTY OF BPO

Intellectual property owned:

1. China 'F' Registered Trademark[Registration no:1774329]

2. "Fortune","Fortune China","Fortune People","New Fortune Weekly", "Fortune
Morning 7a.m.","Securities Online","Fortune Unlimited" and brands of derivative
programs.

                                       43
<PAGE>
                                   SCHEDULE N
                                  LAST ACCOUNTS

[Audited balance sheet, cash flow report, and profit & loss account of BPO as of
December 31, 2005 according to China's accounting principles, prepared by Hunan
Kaiyuan Accounting Company (Limited Liability).]

                                       44

<PAGE>
                                   APPENDIX 1

[Equity Transfer and Capital Increase Agreement regarding BPO -- Please refer to
Exhibit 10.33]

                                       45

<PAGE>
                                   APPENDIX 2

                        [Articles of Association of BPO]

                                       46

<PAGE>
                                   APPENDIX 3

[Money Journal Cooperation Agreement -- Please refer to Exhibit 10.21]

                                       47
<PAGE>
                            SUPPLEMENTARY AGREEMENT

THIS SUPPLEMENTARY AGREEMENT (this "AGREEMENT") is made in Beijing, the People's
Republic of China ("PRC"), on the 15th day of June, 2006.

BETWEEN

(1)  BEIJING CENTRAL MEDIA CO., LTD.(OR BEIJING CENTURY MEDIA CO., LTD.), a
     limited liability company incorporated under the laws of PRC with
     registration number 1101112708733 and a registered address at No. 18-388,
     Jianshe Road, Kaixuan Avenue, Liang Xiang, Fangshan Disctrict, Beijing
     ("PURCHASER");

(2)  HUNAN TV & BROADCAST INTERMEDIARY CO., LTD., a company limited by shares
     incorporated under the laws of PRC with registration number 4300001001044
     and a registered address at Jinying Intermediary & Culture City, Liuyang
     River Bridge East, Changsha, Hunan Province ("TVBI");

(3)  SHENZHEN RONGHAN INVESTMENT CO., LTD., a limited liability company
     incorporated under the laws of PRC with registration number 4403011065442
     and a registered address at Suite 31F, Shenzhen Special Zone Press Tower,
     Futian District, Shenzhen ("SZCO", together with TVBI, the "VENDORS");

(4)  BEIJING PERSPECTIVE ORIENT MOVIE AND TELEVISION INTERMEDIARY CO., LTD., a
     limited liability company incorporated under the laws of PRC with
     registration number 1100001168692 and a registered address at No. 5
     Building, No. 46 Taiping Road, Haidian District, Beijing ("BPO").

WHEREAS, the PURCHASER, TVBI, SZCO, and BPO have entered into a strategic
cooperation agreement on June 15, 2006 ("COOPERATION AGREEMENT") with respect to
the equity transfer and capital increase of BPO.

To clarify the purpose of the COOPERATION AGREEMENT, the parties hereby agree to
the following:

1.   The parties understand that after BPO has completed its equity transfer and
     capital increase pursuant to the COOPERATION AGREEMENT, the assets or
     equity interest in BPO will be involved in the initial public offering at
     an offshore capital market.

2.   The parties agree that if the initial public offering procedure with
     respect to the assets or equity interest in BPO initiates, if the parties
     has any dispute with respect to the COOPERATION AGREEMENT, and the Chinese
     version and English version of the COOPERATION AGREEMENT is inconsistency
     with respect to the disputed issue, the parties shall choose the English
     version of the COOPERATION AGREEMENT as the prevailing version.

3.   This Agreement is a supplementary agreement to the COOPERATION AGREEMENT,
     and constitutes, together with the COOPERATION AGREEMENT, the complete
     agreement with respect to the matters contemplated under the COOPERATION
     AGREEMENT. In case of any discrepancy between this Agreement and the
     COOPERATION AGREEMENT, this Agreement shall prevail to the extent of the
     discrepancies. Other terms of the COOPERATION AGREEMENT shall remain in
     full force and effect.

                                      1
<PAGE>

4.   This Agreement is written in both Chinese and English. Both versions shall
     have equal effect. In case of any discrepancy between the two versions, the
     English version shall prevail.

5.   This Agreement shall be executed in four (4) copies, each party shall hold
     one (1) copy. This AGREEMENT shall become effective upon execution by the
     parties and is legally binding on the parties.

6.   This Agreement shall be governed by, and interpreted in accordance with the
     laws of PRC.

                                       2
<PAGE>

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

The PURCHASER
-------------
For and on behalf of BEIJING CENTRAL MEDIA CO., LTD. (OR BEIJING CENTURY MEDIA
CO., LTD.)
Per: [Company chop of Beijing Century Media Culture Co., Ltd.]

     /s/
---------------------
Authorized Signatory

TVBI
----
For and on behalf of HUNAN TV & BROADCAST INTERMEDIARY CO., LTD.,
Per: [Company chop of Hunan TV & Broadcast Intermediary Co., Ltd.]

     /s/
---------------------
Authorized Signatory

SZCO
----
For and on behalf of SHENZHEN RONGHAN INVESTMENT CO., LTD.
Per: [Company chop of Shenzhen Ronghan Investment Co., Ltd.]

     /s/
---------------------
Authorized Signatory

BPO
---
For and on behalf of BEIJING PERSPECTIVE ORIENT MOVIE AND TELEVISION
INTERMEDIARY CO., LTD.
Per: [Company chop of Beijing Perspective Orient Movie
and Television Intermediary Co., Ltd.]

     /s/
---------------------
Authorized Signatory

                                       3

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