Document:

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                                                                    EXHIBIT 4.34

No TD0175

                                 Lease Agreement

LESSOR: BEIJING GAOLING ESTATE DEVELOPMENT CO. LTD.

LESSEE: BEIJING AIRINBOX INFORMATION TECHNOLOGIES CO., LTD.

     The lessor is the owner of the Tenda Building, which the lessor agrees to
     let and the lessee agrees to lease. Pursuant to the Contract Law of the
     People's Republic of China and other relevant laws and regulations, two
     parties enter into a lease agreement as follows to stipulate the rights and
     obligations of the lessor and lessee.

Article 1 Rental, Property Management Fee and Deposit

     1.1 The lessor agrees to let the rooms of 05/06/07/08 in 7th Floor of Tenda
     Building to the lessee as office. The lease area of the rooms (hereinafter
     referred to as the "Leased Rooms"), mutually confirmed by the two parties,
     is 458 square meters in total. (Appendix 1 of this Agreement is the surface
     area drawing of the Leased Rooms, which is used exclusively to confirm the
     location.)

     1.2 The lease term is 1 year, commencing from 31 July 2005 to 30 July 2006.

     1.3 The rent is USD 13.4/Month/Sq.M. (RMB 3.71 Yuan/Day/Sq.M) while the
     Property Management Fee is USD 3.6/Month/Sq.M (RMB1 Yuan/Day/Sq.M).
     Therefore the total fee for each month (including the property management
     fee) is USD 7,786.00 (RMB 63,144.46 Yuan). Every month is calculated as 30
     days in this agreement. The rent and property management fee shall be paid
     monthly and prepaid every month; that means the lessee shall pay the rent
     and property management fee of the next month before the 31st of each
     previous month in RMB. The aforesaid fee will not be regarded as having
     been made unless the lessor has received the payment. The lessor shall
     issue corresponding legal receipts to the lessee once the lessee made the
     payment.

     1.4 The lessor is entitled to adjust the rent and property management fee
     in the case that the lease term is more than 2 years.

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     1.5 The lessee shall give three months' rent and property management fee to
     the lessor as the guaranty of performing this Agreement (hereinafter
     referred to as the "deposit"), which amounts to USD 23,358.00 (RMB
     189,433.38 Yuan, in words: one hundred eighty nine thousand four hundred
     and thirty three yuan three jiao eight fen).

     1.6 The lessee may terminate this Agreement by written notice to the
     lessor, in the case that the lessor fails to deliver the Leased Rooms to
     the lessee without any fault or negligence. Under such circumstances, the
     lessor shall return the deposit, rent and property management fee, which
     have been collected, to the lessee (without interest on the aforesaid
     fees).

     1.7 The rent and property management fee shall be paid monthly and prepaid
     every month within 10 days commencing from each lease term begins; that
     means the lessee shall pay the rent and property management fee of the next
     month before the 31st of each previous month (including 31st of each
     month). The aforesaid fee will not be regarded as having been made unless
     the lessor has received the payment. The lessee shall pay the lessor a late
     fee, which is two per ten thousand of the delayed payment per day, provided
     that the lessee failed to make the payment pursuant to the period
     stipulated in the Agreement.

     1.8 The lessor is entitled to deduct the deposit in compensating lessor's
     losses and the delayed payment in case that the lessee violates the
     Agreement (including delaying the payment of rent, property management fee,
     compensating lessor's damages due to lessee's failure in performance of the
     agreement). When the amount of the deposit kept by the lessor after the
     deduction of rent therefrom is less than the amount prescribed herein in
     clause 5, the lessee shall replenish it within three days after receipt of
     a written notice from the lessor. Otherwise, the lessor has the right to
     take such measures as cutting the telephone line or power until the
     agreement is terminated by lessor. The lessee shall compensate lessor's
     economic losses result from deposit deficiency.

     1.9 In case the lessee fully performs this Agreement, the lessor shall
     return the whole deposit (without interest) to lessee within 30 days from
     the day when this

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     agreement is expired, the lessee returns the Leased Rooms and pays up
     relevant fees to lessor.

     1.10 Without the permission of the lessor, the lessee cannot assign the
     right of claim for the return of the deposit to any third party or use it
     as a guaranty for lessor's debt.

Article 2 . Termination by the lessee during the valid period of this Agreement

     With written notice to the lessor and paying the whole deposit, this
     Agreement can be terminated by the lessee during the valid period.

Article 3. The Equipment and Reconstruction of the Leased Rooms

     3.1 The lessor shall furnish the house with the following equipments:

          1.   central air-conditioner, ceiling (including intake, automatic
               smoke sensor ,gushing machine, daylight lamp and head lamp, etc.)

          2.   220v electrical plug, communication circuitry, antenna plug for
               satellite TV.

     3.2 In needs of making any fitments or reconstruction of the Leased Rooms,
     the lessee shall provide the lessor with blueprint and scheme of the
     fitments and reconstruction as well as the introduction of the construction
     enterprise and its personnel in advance. The construction enterprise is
     obligated to pay management fee RMB 3,000.00 Yuan (in words: RMB THREE
     THOUSAND YUAN) to the lessor. The construction can be commenced, provided
     that the payment of construction guaranty fee and management fee is paid by
     the construction enterprise. The lessor shall refund the construction fee
     to the lessee, in case that, through lessor's checking and accepting, the
     lessor confirms the construction is completed based on the blueprint and
     scheme approved by the lessor and no damages has been made to equipments or
     facilities of the Leased Rooms. The lessee shall bear the taxes of the
     additional fitments and equipments, regardless of the account name on the
     bill or what kind of fee item the tax shown on the bill.

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     3.3 In case that the lessee rents the direct line telephone number (the
     account is opened under the name of the lessor in the telecom company) from
     the lessor, who will bear the telephone fee instead of the lessee, the
     lessee shall pay RMB 5000Yuan/each line (in words: RMB FIVE THOUSAND Yuan
     each line) as deposit of the telephone fee and RMB 300 Yuan /Year/Line (in
     words:RMB THREE HUNDRED YUAN every year for each line) as circuitry
     maintenance fee. After paying the deposit of telephone fee and circuitry
     maintenance fee, the lessee may choose telephone number and the lessor is
     responsible for installing the telephone. The lessee shall pay each month's
     telephone bill within 7 days after receiving the notice from the lessor.
     The lessor shall refund the deposit of telephone fee without interest to
     lessee when the Agreement is expired; In case that the lessee brings the
     direct telephone number itself or open an account under the name of itself
     in the telecom company, it shall pay the following fees in lump sum:
     circuitry occupation fee of RMB 200Yuan/each line (in words: RMB TWO
     HUNDRED YUAN each line), transfer fee of RMB 5 Yuan/each line (in words:
     RMB FIVE HUNDRED each line) and circuitry maintenance fee of RMB 100
     Yuan/each line (in words: RMB ONE HUNDRED YUAN each line). The lessor shall
     assist lessee in installing the telephone.

Article 4. Re-leasing

     After the expiry of the lease, the lessee has the right of priority to
     extend the term of the agreement under the same circumstances, provided
     that the lessee notifies the lessor in writing three months before the
     expiry of the agreement. The terms and conditions of re-leasing shall be
     negotiated by both parties (the range for the adjustments of the price
     shall be made according to the rise or drop of the real estate index and
     the general leasing price of the whole building). If the lessee does not
     notify lessor in the aforesaid period, it will be regarded that lessee will
     not re-lease the Leased Rooms and shall move out of the Leased Rooms before
     the termination date of the Agreement.

Article 5. The Return of the Leased Rooms

     5.1 After the expiry of the agreement, the lessee shall return the Lease
     Rooms according to the time notified by the lessor. If the Leased Rooms
     cannot be returned on time for the reason on the part of the lessee and
     there is a new lessee,

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     the lessor in entitled to request the lessee to leave the Leased Rooms in 3
     days and deduct part of or entire deposit in compensating lessor's losses
     suffered from lessee's delaying in returning the Lease Rooms. In case the
     deposit is not sufficient for compensating lessor's losses, the lessor is
     entitled to claiming for the insufficient part. If the Leased Rooms have
     not been rented to other lessees, it will be deemed by the lessor that the
     lessee will re-lease the Leased Rooms. In such circumstances, the lessee
     shall re-lease the Leased Rooms. If lessee refuses to re-lease, the lessor
     will have the right to request the lessee to move out of the Lease Rooms
     and deduct part of or entire deposit in compensating lessor's losses
     suffered from lessee's delaying in moving out.

     5.2 When the lessee return the Lease Rooms after expiration, the Leased
     Rooms shall be in good status(excluding reasonable wear and tear); the
     lessor has right to deduct the deposit to compensate corresponding
     reasonable losses when it finds that the rooms and equipment are damaged
     from the reason on part of the lessee. In case the deposit is not
     sufficient enough to compensate lessor's losses, the lessee shall replenish
     the margin in case that the deposit is insufficient for the losses within 3
     days after receiving lessor's written notice.

     5.3 As to accession made by the lessee to the Leased Rooms (shall be
     approved by the lessor), the lessor is not certainly to request the lessee
     to restore it to the original conditions. The lessor shall not pay the
     expenses back for the accession even if the lessee does not make the
     restoration.

Article 6. The Obligations of the Lessee

     The lessee agrees to abide by the following provisions:

     6.1 The lessee shall abide by all the rules and regulations stipulated by
     the lessor and its authorized agent. The detail content is in Appendix two
     "Client Handbook". The lessee shall strictly abide by the rules and
     regulations and can not reject without reasonable causes if lessor notifies
     lessee of all reasonable alteration it made on the rules and regulations
     (adding or reducing clauses or revising). If inconsistency occurs between
     the Client Handbook and this Agreement as well as other appendixes, the
     concluded Agreement and appendixes shall prevail.

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     6.2 The lessee shall not or allow others to take any actions, which will
     make the insurance of the Lease Rooms and the building invalid or possibly
     invalid, or result in an increase of the insurance premium. Otherwise, the
     lessee shall bear the corresponding increase of the insurance premium and
     other related expenses for repurchase of the insurance by the lessor due to
     the lessee's violation of this clause. The lessee shall pay the aforesaid
     fees according to the period asked by lessor after the occurrence of
     lessee's violation.

     6.3 The lessee shall not take the following activities

          1.   To use the Leased Rooms to conduct illegal activities.

          2.   To assign the rights of lessee under the agreement to others or
               use it as security.

          3.   To lease part of or entire Leased Rooms to others or let others
               use the Leased Rooms.

          4.   To use the Leased Rooms with a third party (not including
               affiliated enterprises of the lessee which means the parent
               company, subsidiary, branch company of the lessee or the company
               which shares the common investment party and legal representative
               with the lessee) or show other's name as the lessee of the Leased
               Rooms.

          5.   To transfer the ownerships of the ornaments, equipments and
               articles in the Leased Rooms to any third party or use them as
               security.

     6.4 The lessor shall take charge of the safety during the lease term and be
     responsible for theft or damages of the articles in the Leased Rooms. In
     case of fire, the lessee shall make compensation to lessor if the fire is
     occurred due to lessee's reason.

Article 7. The Obligations of the Lessor

     The lessor agrees to abide by the following provisions:

     7.1 The lessor shall guaranty the public facilities (including
     illumination, air-conditioner, automatic smoke sensor, shower, W.C and
     elevator, etc) are in good

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     status. The repairs shall be made in time after receiving trouble report
     from the lessee.

     7.2 Implementing twenty-four hours' security measures to ensure the
     security of the mansion.

     7.3 The lessor shall bear the corresponding losses suffered by the lessee
     due to quality problems of the Leased Rooms (excluding the matters
     stipulated in Article 9 of this Agreement and the losses incurred due to
     the quality resulting from lessee's reconstruction).

Article 8. Damages and Breaching Liabilities

     8.1 The lessee shall compensate the lessor for losses due to the
     intentional actions or negligence of lessee or its agent, employee. On the
     contrary, the lessor shall compensate lessee for losses due to the
     intentional actions or negligence of lessor or its agent, employee.

     8.2 If the lessee breaches the agreement as well as appendixes and
     supplementary agreement and fails to make the rectification measures within
     7 days since receiving lessor's written notice, the agreement is
     automatically terminated within 14 days since the written notice is issued.
     The lessee shall leave the house within 5 days since the issues of the
     written notice after the agreement is automatically terminated; at the same
     time, the lessor is entitled to claim for damages with the amount of three
     months' renting fees and management fees; the lessee also agrees to bear
     losses and expenses incurred. The lessor shall deduct the guaranty money
     for the compensation if the amount of the guaranty money the lessee has
     paid is the same as the damages. Otherwise, the lessee is obligated to make
     up the margin. The measures prescribed here are not the solitary measures.
     The lessor is entitled to take other measures in case of the breach .

Article 9. Exemption From Liabilities

     The lessor is exempted from liabilities in the following cases:

          1.   The temporary cease for the utilization of the public
               establishments for the necessary maintenance of the building or
               not for the reason of the lessor.

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          2.   The losses the lessee suffers is incurred in the event of the
               earthquake, typhoon and other events which belongs to Force
               Majeure.

          3.   The lessee suffers the losses for the reason of other lessees or
               the third parties (but the lessor is responsible to assist the
               lessee for reimbursement from the infringers).

Article 10. Abandonment of the Rights

     The abandonment of any right stipulated by this agreement shall be based on
     the written signature of the lessor. The facts that the renting fee or
     other items the lessee paid is insufficient to the amounts stipulated by
     the agreement, or with the consent of the lessor, do not have any influence
     on the right of the lessor to claim for the arrearage and the right to take
     other measures according to the agreement or laws and regulations.

Article 11. The Service of Notice

     All notices required by the agreement shall be issued in written form. The
     invoices, bill of documents and other notices issued by the lessor to the
     lessee shall be marked with the lessee as addressee. The written notice is
     regarded as having been served if it is delivered to the leased house, sent
     by the registered mail or delivered to the address of the lessee in
     Beijing. The notice issued by the lessee to the lessor will be regarded as
     having served if it is delivered to the following address and accepted with
     signature: Beijing Gao Ling Real Estate Development Co. Ltd., No.168, Xi
     Zhi Men Wai Avenue, Haidian District, Beijing, China.

Article 12. Disputes

     This agreement shall be governed and explained by the law of PRC. Any party
     may file the action to the people's court in the jurisdiction if the lessor
     and lessee cannot settle the disputes which arise from the agreement with
     negotiation.

Article 13. Business License and Language

     The lessee shall produce business license and the authorization letter for
     the authorized representative to sign the agreement on behalf of the
     lessee. The copy of the duplicate of the business license and the original
     authorization letter will be enclosed of the agreement. As an important
     part of the agreement, the

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     appendix will be effected at the same time and have the same legal effect
     with the agreement.

     The agreement and its appendix shall be written in Chinese or English with
     the same legal effect. The agreement has two original copies while the
     lessor and lessee will hold one of them.

Article 14. Supplementary Agreement

     The parties of the agreement can conclude supplementary agreement through
     negotiation on other related matters. The supplementary agreement with the
     same legal effect of the agreement will be annexed to the agreement as an
     important part of the agreement.

     The agreement is effective on the date of the subscription as well as the
     guaranty The agreement is effective on the date of the subscription as well
     as the guaranty is fully paid.

Appendix One: Surface Area Drawing of the Leased Rooms
Appendix Two: <Clients Handbook>
Appendix Three: Supplementary Agreement

(Signature Page)

LESSOR: BEIJING GAOLING ESTATE DEVELOPMENT CO. LTD

ADDRESS: NO.168, XI ZHI MEN WAI AVENUE, HAIDIAN DISTRICT, BEIJING, CHINA
POST CODE: 100044

LEGAL REPRESENTATIVE (SIGNATURE): ________________________
TEL: 8838.3388
ACCOUNTING BANK: _________________________________________
DATE: 2005-8-1

LEASEE: BEIJING AIRINBOX INFORMATION TECHNOLOGIES CO. LTD.

ADDRESS: _________________________________________________

POST CODE: _______________________________________________

LEGAL REPRESENTATIVE (SIGNATURE): ________________________
TEL: ____________________________

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ACCOUNTING BANK: _________________________________________
DATE: 2005-7-31

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SUPPLEMENTARY AGREEMENT FOR <THE LEASE AGREEMENT>. NUM. TD 0175

LESSOR: BEIJING GAOLING ESTATE DEVELOPMENT CO. LTD

LESSEE: BEIJING AIRINBOX INFORMATION TECHNOLOGIES CO. LTD.

          The lessor and lessee reach the following supplementary agreement as
          to <the Lease Agreement>. Num. TD 0175 (hereafter simplified as <the
          Agreement>):

     1.   Free Leasing Period: 30 days commencing from July 31st 2005 to August
          29th 2005.

          During the free leasing period, the lessee shall only pay RMB 1.00
          Yuan/day/Sq.M as the management fee and other related fees. If <the
          Agreement> is terminated before the expiration, the free period after
          the termination date will not come into effect any more and the lessor
          shall not make compensation to the lessee. The lessee shall make up
          for all the renting fee according to the stipulated rental of <the
          Agreement> if <the Agreement> is terminated by the lessee before the
          expiration of the renting term.

     2.   One clause is added to the article one as clause 1.11. The renting fee
          and management fee should be calculated in USD and received by RMB.
          The exchange rate between the USD and RMB is fixed at 1:8.11.

     3.   The lessor agrees to add roof-inhaled air-condition while the specific
          construction method should be approved by the lessor. The expenses of
          the reconstruction for the air-conditioning shall be borne by the
          lessee. When the lessee removes the ceiling and air-condition at the
          time of the termination of <the Agreement> and returns the Leased
          Rooms, the lessee shall restore the ceiling and air-condition system
          back to the original status while the expenses shall be borne by the
          lessee.

     4.   The lessee shall produce blueprints in advance to the lessor and get
          the consent from the lessor and the fire control department for
          carrying out the construction if the lessee plans to make secondary
          fitments and reconstructions to the Leased Rooms. The lessee should
          not tie up the fire control channels and alter the fire control
          sub-area of the Leased Rooms. The modification for the liquid,
          ventilation and fire control system shall be carried out by the
          construction company appointed by the lessor, while related expenses
          shall be borne by the lessee.. The fitments and modification to the
          common area of the building should be restored to the original status
          at the time of its departure. All the expenses should be borne by the
          lessee.

     5.   The lessor shall increase the electric power. The modification for
          electric power in the rented area shall be organized by the lessor.
          The lessee shall bear the related expenses which will be paid by the
          lessor before the modification is carried out.

     6.   Pursuant to the stipulation of Item 6 of Article 1 in the
          Supplementary Agreement of the Lease Agreement No. TD0154, the lessee
          has paid a deposit amount at three months' rental and management fee
          of No.05/06/07/08 on 7th floor. The aforesaid deposit shall be
          regarded as the deposit stipulated in the Item 5 of Article 1 of this
          Agreement, when lessee concludes this Agreement with lessor. The
          lessor shall return the margin to lessee. The lessee shall pay RMB
          63,144.46 Yuan, as the "Payment One Clause shall be paid to lessor by
          the end of August 1, 2005. (in words: RMB

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          SIXTY THREE THOUSAND ONE HUNDRED AND FORTY FOUR YUAN FOUR JIAO SIX
          FEN)

     7.   The supplementary agreement is the supplements and alteration for <the
          Agreement> and has the same legal effect with <the Agreement>. This
          agreement will prevail as to any conflict between the supplementary
          agreement and <the Agreement>. Others will be executed by <the
          Agreement>.

     8.   The agreement has two original copies while the lessor and lessee will
          hold one of them. The agreement is effective on the date of the
          subscription.

LESSOR: BEIJING GAOLING ESTATE DEVELOPMENT CO. LTD.

LEGAL REPRESENTATIVE OR CONSIGNER (SIGNATURE): ________________________

DATE: ________________________

LEASEE: ______________________

LEGAL REPRESENTATIVE OR CONSIGNER (SIGNATURE): ________________________

DATE: ________________________<PAGE>

                                                                    EXHIBIT 4.38

                                OPTION AGREEMENT

THIS OPTION AGREEMENT (this "Agreement") is entered into by and among the
following parties (the "Parties") in Beijing, People's Republic of China ("PRC")
on November 21, 2005.

PARTY A:              KONGZHONG INFORMATION TECHNOLOGIES (BEIJING) CO., LTD.
Address:              Tengda Plaze, No.168 Xiwai Street, Haidian District,
                      Beijing
Legal Representative: Zhou Yunfan

PARTY B:              LI YANG
Address:              No. 23 Guang Ning Bo Avenue, Xicheng District, Beijing

PARTY C:              WU XUELEI
Address:

PARTY D:              WUHAN CHENGXITONG INFORMATION & TECHNOLOGY CO. LTD.
Address:
Legal Representative: Wang Guijun

WHEREAS

1.   Party A is a wholly foreign-owned enterprise registered in the PRC.

2.   Party D is a limited liability company registered in the PRC and licensed
     by relevant government authorities to hold a Telecommunications Value-added
     Service Operation Permit, which qualifies it to engage in
     telecommunications value-added service. Party B and Party C are
     shareholders of Party D.

Party B and Party C (the "Authorizing Party" or the "Shareholders of Party D")
are the shareholders of Party D and own 90% and 10% equity interest in Party D
respectively. Party B and Party C have signed Share Transfer Agreements with the
original shareholders of Party D who transferred their respective equity
interest in Party D on 17 February 2005. The amount for the transfer of equity
interest was paid by Party A.

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THE PARTIES THEREFORE AGREE AS FOLLOWS:

1.   GRANT OF THE OPTION

1.1  Grant

     The Authorizing Party hereby grant to Party A an option to purchase all
     their respective equity interests in Party D at the lower price between the
     lowest price permitted by PRC laws or the audited net asset value of Party
     D once or several times by Party A or its designated third party.

1.2  Term

     This Agreement shall take effect as of the date of execution by the parties
     hereto and shall remain in full force and effect until all of the equity
     interests held by the Shareholders of Party D in Party D have been
     purchased by Party A with the permission of PRC laws.

2.   EXERCISE OF THE OPTION AND ITS CLOSING

2.1  Timing of Exercise

     2.1.1 The Authorizing Party agree unanimously that with the permission of
          PRC laws and regulations, Party A may exercise part or full option
          anytime during the term of this Agreement.

     2.1.2 The Authorizing Party agree unanimously that there is no limitation
          on the times for Party A to exercise its option, unless Party A has
          purchased all of the equity interests in Party D.

     2.1.3 The Authorizing Party agree unanimously that Party A may designate in
          its sole discretion any third party to exercise the options on its
          behalf, in which case Party A shall provide a prior written notice to
          the Authorizing Party.

2.2  Presentation of the amount for the options

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     The Authorizing Party agree unanimously that Party A will present all the
     amount by exercising the options by Party A or its designated third party
     to Party D free of charge.

2.3  Transfer

     The Authorizing Party agree unanimously that the options of Party A under
     this Agreement may be transferred to a third party, which shall be deemed
     as a party to this Agreement and is entitled to exercise the options under
     terms of this Agreement, to enjoy the rights assume the obligations of
     Party A under this Agreement.

2.4  Notice Requirement

     To exercise an Option, Party A shall send an written notice to the
     Authorizing Party of such Option is to be exercised 10 days prior to each
     closing date (as defined below), specifying the following:

     2.4.1 The date of the effective closing of such purchase (a "Closing
          Date"), that is, the date when formally filing an application for
          registration of equity interests change with the commercial and
          industrial administrative authorities;

     2.4.2 the name of the person in which the Equity Interests shall be
          registered;

     2.4.3 the amount of Equity Interests to be purchased from such Authorizing
          Party;

     2.4.4 means of payment; and

     2.4.5 a power of attorney. (applicable if a third party has been designated
          to exercise the Option)

     The Authorizing Party agree unanimously that Party A is entitled to
     exercise the Options and elect to register the Equity Interests in the name
     of a third party as it may designates from time to time. The Authorizing
     Party agree that as long as Party A or its designated third Party forward
     the request to exercise the options, the Authorizing Party shall execute
     the equity

                                        3

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     interests transfer agreement and other relevant documents in accordance
     with the notice and this Agreement within 10 work days upon receipt such
     notice.

2.5  Closing

     On each Closing Date, Party A shall pay to the relevant Authorizing Party
     the applicable purchase price for the Equity Interests to be purchased on
     such Closing Date as provided in Article 1 above. Party A and the
     Authorizing Party shall provide necessary assistance to Party D with
     respect to the processing the registration for change of equity interests
     with the commercial and industrial administrative authorities.

3.   REPRESENTATIONS AND WARRANTIES

3.1  The Authorizing Party hereby present and warrant as follows:

     3.1.1 They have the full power and authority to enter into and perform this
          Agreement.

     3.1.2 The fulfilling of the obligations hereunder does not violate any
          applicable laws, regulations and contracts, or require any government
          authorization or approval.

     3.1.3 There is no lawsuit, arbitration or other legal or administrative
          procedures pending which, based on its knowledge, will possibly have
          material and adverse affects on the performance of this Agreement.

     3.1.4 The Authorizing Party will not set pledge, debt or other third party
          rights on the equity interests in Party D and will not dispose the
          same to any third party by transferring, presenting, pledging or any
          other means.

     3.1.5 There is no any pledge, debt or other third party right on the equity
          interests in Party D held by the Authorizing Party.

     3.1.6 The options granted to Party A are exclusive, and the Authorizing
          Party shall not grant options or similar right to other parties in any
          ways.

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<PAGE>

3.2  Undertaking

     Considering that Party A or its designated third party will present all the
     amounts gained from exercising the options to Party D, Party D hereby
     undertakes to Party A that it will bear all costs arising from executing
     each Assignment, process all formalities needed for Party A or its
     designated third party to be the shareholders of Party D, the Ancillary
     Documents and any other relevant documents required therefore, and will
     complete all such formalities as are necessary to make Party A or its
     designated party a full and proper shareholder of Party D. Such formalities
     include, but are not limited to, assisting Party A with the obtaining of
     necessary approvals of the equity transfer from relevant government
     authorities (if any), the submission of the Assignment to the relevant
     administrative department of industry and commerce for the purpose of
     amending the Articles of Association, changing the list of shareholders and
     undertaking any other changes.

4.   TAXES

     All taxes arising from the performance of this Agreement will be paid by
     Party D.

5.   BREACH OF AGREEMENT

5.1  Unless otherwise provided by this Agreement, a party is deemed as in breach
     of this Agreement if it fails to fully perform or suspends performing its
     obligations under this Agreement, and does not correct its wrongdoings
     within 30 days upon receipt of the notice by the other party, or its
     representations and warranties are unreal.

5.2  If one party violates this Agreement of its representations and warranties
     in this Agreement, the abiding party may notify the default party in
     writing requesting it to correct its wrongdoings within 10 days of
     receiving the notice, take corresponding measures to effectively and timely
     avoid the damages and to resume performing this Agreement. If there are
     damages, the default party shall compensate the abiding party, causing the
     abiding party to obtain all receivable rights and interests from the
     performance of the Agreement.

5.3  If either party breaches this Agreement, which causes the other party to
     bear any expenses, liabilities or suffer any losses (including not limited
     to the profit losses of the company), the

                                        5

<PAGE>

     default party shall compensate the abiding party with respect to such
     expenses, liabilities or losses (including but not limited to the interests
     lost or paid due to the breach and attorney fees). The amount of the
     compensation shall equal the losses due to the breach. The compensation
     includes the receivable interests by the abiding party from performance of
     this Agreement, but shall not exceed reasonable expectations of the
     Parties.

5.4  In case all Parties breach this Agreement, the amounts of compensation
     shall be determined in accordance with the severity of their respective
     breaches.

6.   GOVERNING LAW AND DISPUTE SETTLEMENT

6.1  Governing Laws

     This Agreement shall be governed by the laws of the PRC, including but not
     limited to the execution, performance, effect and interpretation of this
     Agreement.

6.2  Friendly Consultation

     The Parties shall settle the dispute regarding the interpretation or
     performance of this Agreement through friendly consultation or mediation by
     a third party. Any dispute that failing such consultation or mediation
     shall be submitted to the arbitration authority for arbitration within 30
     days after the commencement of such discussions.

6.3  Arbitration

     Any dispute in connection with this Agreement shall submitted to China
     International Trade Arbitration Committee for arbitration in accordance
     with its arbitration rules. The arbitration award shall be final and
     binding on all Parties to this Agreement.

7.   CONFIDENTIALITY

7.1  Confidential Information

     The contents of this Agreement and the Annexes hereof shall be kept
     confidential. No Party

                                        6

<PAGE>

     shall disclose any such information to any third party (except for the part
     agreed upon by the Parties with a prior written agreement). Each Party's
     obligations under this clause shall survive after the termination of this
     Agreement.

7.2  Exceptions

     If a disclosure is explicitly required by law, any courts, arbitration
     tribunals, or administrative authorities, such a disclosure by any Party
     shall not be deemed a violation of Article 7.1 above.

8.   MISCELLANEOUS

8.1  Entire agreement

     This Agreement constitutes the entire agreement and understanding among the
     Parties in respect of the subject matter hereof and supersedes all prior
     discussions, negotiations and agreements among them. This Agreement shall
     only be amended by a written instrument signed by all the Parties. The
     Annexes attached hereto shall constitute an integral part of this Agreement
     and shall have the same legal effect as this Agreement.

8.2  Notices

     Any notices or other correspondences among the Parties in connection with
     the Performance of this Agreement shall be in writing and be delivered in
     person, by registered mail, prepaid mail, recognized express mail or
     facsimile to the following correspondence addresses:

     PARTY A:   KONG ZHONG XIN TONG INFORMATION TECHNOLOGY LIMITED (BEIJING)

     Address:   Tengda Plaze, No.168 Xiwai Street, Haidian District, Beijing
     Fax:       ________________
     Tele:      ________________
     Addressee: Zhou Yunfang

     PARTY B:   LI YANG
     Address:   ________________
     Fax:       ________________

                                        7

<PAGE>

     Tele:      ________________
     Addressee: ________________

     PARTY C:   WU XUELEI

     Address:   ________________
     Fax:       ________________
     Tele:      ________________

     PARTY D:   WUHAN CHENGXITONG INFORMATION & TECHNOLOGY CO. LTD.

     Address:   ________________
     Fax:       ________________
     Tele:      ________________

     Addressee: Wang Guijun

     8.2.1 Notices and correspondences shall be deemed to have been effectively
          delivered:

          8.2.2.1 at the exact time displayed in the corresponding transmission
               record, if delivered by facsimile, unless such facsimile is sent
               after 5:00 pm or on a non-business day in the place where it is
               received, in which case the date of receipt shall be deemed to be
               the following business day;

          8.2.2.2 on the date that the receiving Party signs for the document,
               if delivered in person (including express mail);

          8.2.2.3 on the fifteenth (15th ) day after the date shown on the
               registered mail receipt, if sent by registered mail;

     8.2.3 Binding Force

          This Agreement shall be binding on the Parties.

8.3  Language and Counterparts

     This Agreement shall be executed in 5 originals in Chinese, with each party
     holding one copy.

                                        8

<PAGE>

8.4  Days and Business Day

     A reference to a day herein is to a calendar day. A reference to a business
     day herein is to any day from Monday through Friday in a week.

8.5  Headings

     The headings contained herein are inserted for reference purposes only and
     shall not affect the meaning or interpretation of any part of this
     Agreement.

8.6  Unspecified Matters

     Any matter not specified in this Agreement shall be handled through
     discussions among the Parties and resolved in accordance with PRC laws.

                                        9

<PAGE>

(No text on this page, signatory page of Option Agreement)

PARTY A: KONG ZHONG XIN TONG INFORMATION TECHNOLOGY LIMITED (BEIJING)

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

PARTY B: LI YANG

Signature:
           --------------------------

PARTY C: WU XUELEI

Signature:
           --------------------------

PARTY D: WUHAN CHENGXITONG INFORMATION & TECHNOLOGY CO. LTD.

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

                                       10

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