Document:

EXHIBIT 10.3

             Cooperation Agreement regarding China Online's Internet
                       Content Service Commercial Business

Shenzhen Rayes Group Co., Ltd. Is a private high-tech enterprise registered in
Shenzhen, Guangdong, China. (Party A). "China Online" was established by the
Rayes Group to meet China's development needs. China Online is a
commercially-focused, inter-provincial and inter-city online service provider
based on China Telecom's digital network and connected with the Internet.

Shenzhen Neihe Electronic System Co., Ltd. is a high-tech company registered in
Shenzhen with electronic business affairs as a focus and computer network
technology and consulting service as additional (Party B) . With mutual consent
and recognition of the favorable development prospect for China's internet
market and after a full discussion between the two parties, the cooperation
agreement agreed on is set out below.

I         Parties to the Agreement

Party A:          Shenzhen Rayes Group Co., Ltd.

Party B:          Shenzhen Neihe Electronic Network Systems Co., Ltd.

II        Basis of Cooperation

          The project China Online invested by Party A has wide advantages in
          respect of policy, brand and business development, mainly including:

          1.   On Oct.30th, 1998, the Administration Bureau of
               Telecommunications of the Ministry of Information Industry issued
               the "Reply on the Re-Acquisition of the Business Permit for the
               Internet Business of Computer Information Network" for Shenzhen
               Rayes Group Co., Ltd., approving Shenzhen Rayes Group Co., Ltd.
               to be engaged in the Internet business of computer information
               network in its business subsidiaries in 80 cities;

          2.   In 1998, it entered into a cooperation agreement on jointly
               supplying information services to society with the State
               Administration of Telecommunications, reaching the
               interconnection between public multi-media communications network
               and "China Online" in China. The users of "China Online" may
               directly dial the special service number 169 for online access;

          3.   In 1997 and 1998, in two phases, it obtained the special service
               number 95888 as approved by the former Ministry of Posts and
               Telecommunications to be used in 64 cities throughout the
               country;

          4.   In 1997, the former Ministry of Posts and Telecommunications
               issued official documents to supply preferential to Shenzhen
               Rayes Group Co., Ltd. in leasing dedicated digital line;

          5.   On April 22, 1998, it signed a letter of intent with the Bank of
               China, to make the Commodities Transaction Center of "China
               Online" a corresponding point to develop the overall business and
               technological cooperation in the fields of "China Online"
               communications service, information service and e-commerce.

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          6.   On June 10, 1999, the State Administration of Communications of
               China made further definition on the cooperation scope,
               settlement, expense, roaming, etc. in the "Circular on the
               Cooperation, Execution, and Relevant Issues of ISP/ICP between
               Rayes Group and Others".

               Party B is a high-tech company qualified as a corporation in
               China owing to its advantage in respect to the introduction
               of new technology, technological consultations, market
               popularization, assets raising, etc.

III       Content of Co-operation

Based on the Internet platform, branding and policy support enjoyed by Party A,
Party B will begin assisting Party A in Party A's provision of Internet Content
Services and electronic commercial services. This assistance will start at Party
A's offices in Shanghai and Wuhan. Party A promises Party B will enjoy
preference in investing in and increasing web sites.

IV        Responsibilities of Both Parties to Cooperate

     1.   Responsibilities of Party A

     A.   Party A is responsible for the business development, planning and
          coodination of the whole network of "China Online" and for better
          developing the business of Internet content service commercial
          business.
     B.   Party A agrees, Party B may to the extent allowed by PRC law and
          policies be allowed to use any preferential state policies enjoyed by
          Party A to promote its business development.
     C.   Party A agrees Party B may utilize its nationally-registered brand
          names to promote and develop the internet content service commercial
          business.
     D.   Party A shall provide nation-wide internet platform and related
          technological linkage, guidance and support.
     E.   Party A shall liase with its associate companies throughout China to
          promote Party B's business market establishment.
     F.   Party A shall be responsible for all procedures related to licenses,
          approvals, references and applications for development of internet
          content services business.

     2.   Responsibilities of Party B

     A.   Party B shall abide by all relevant national policies and regulations
          to develop its business.
     B.   All Party B's development shall be in accordance with the PRC
          government overall plan for development of internet as it applies to
          Party A's "China Online" project and accept operational management by
          the management team appointed by both Party A and B.
     C.   Party B is only authorised to use Party A's branding during the time
          that Party B is assisting Party A develop its Internet Content service
          commercial business. Party B is not authorised to use Party A's
          branding in the development of any other business;
     D.   The development of all business of Party B should be under the daily
          supervision and control of the network management center of Party A
          and relevant technological and business data should be reported in
          time;
     E.   Party B guarantees to calculate and apportion in a timely and regular
          fashion income derived from entities associated with "China Online".

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V         Partnership Expenses

     Where Party B has obtained the co-operation and policy support of Party A
     in the above referenced businesses, Party B agrees to pay to Party A an
     amount of RMB 7 million in return for investment in and preferential rights
     to the website business. The period of co-operation will be three years,
     with RMB 1.4 million [sic] being paid each year. Payment will be made
     within 30 days of the formal signing of this agreement.

VI

     In the event that in the cooperation period the business permit of Party
     A's internet connection service commercial business is altered, canceled or
     terminated by the relevant department thereafter affecting the performance
     of the Agreement, or in the cooperation period China allows foreign
     investment participating in internet connection service commercial business
     or carries out other opening measures, Party A and Party B agree to amend
     or sign another agreement through friendly negotiation.

VII       Cooperation Period

     The time limit of validity of the Agreement is from July 1st, 1999 to July
1st, 2004, for a period of 5 years. Upon the expiration of the Agreement, the
parties may sign to extend the Agreement through negotiation.

VIII Default Responsibilities

     In the event that Party B makes a breach of the Agreement, Party A has the
right to terminate the performance of this Agreement and the fees received will
not be returned.
     In the event that Party A breach the Agreement, Party A should
return the fees received from Party B and compensate Party B the relevant losses
caused therefrom.

IX Other
     The Agreement is made in duplicate, of which Party A and Party B separately
     hold one.  The  Agreement  comes into  effect  upon the date of signing and
     sealing of the two parties.

     Party A: Shenzhen Rayes Group Co., Ltd.
     Party B: Shenzhen Neihe Electronic Network Systems Co., Ltd.

     Date on July 15, 1998EXHIBIT 10.4

                       Wuhan Public Golden School Network

        Co-operation Agreement for Dissemination of Educational Resources

Between:

Party A: Wuhan City No.2 Secondary School

Party B: Shenzhen Rayes Electronic System Co., Ltd. (Wuhan Branch)

The use of computers for education is an important strategy and a symbol of a
modern education system. The Wuhan Public Golden School Network was established
under the Wuhan City Education Commission. In order to offer timely, effective
and a consistently high standard of educational resources to create a networked
educational tool, both parties through friendly discussions have reached the
agreement that follows:

1. Duration and definition of the cooperation

Under the unified plan and organization of the Wuhan Education Commission, Party
A will regularly provide a high standard of teaching materials while Party B
will be responsible for production, placing a sign at Wuhan Public Golden School
Network to disseminate information to the society.

The cooperation period is for 3 years. Both parties can extend the co-operation
with a further agreement after the expiry date.

2.   Party A will provide the following teaching resources

A.   To provide resources to the following grades and subjects after
     negotiations and confirmation:

a.   Upper school level 1: Literature, Math, Foreign language, Physics,
     Chemistry, and History

b.   Upper school level 2: Literature, Math, Foreign language, Physics,
     Chemistry, Biology, Geography

c.   Upper school level 3: Literature, Math, Foreign language, Physics,
     Chemistry, politics

B.   Other extra curriculum resources: Reading literature articles, Science
     magazines.

C.   Resources provision requirements:

To provide supplementary teaching materials once a week based on the teaching
progress, with 1,000 to 2,500 words per time per subject. Extra curriculum
knowledge will be renewed once a week, can not be less than 2,000 words per time
and not more than 5,000 words. The materials will be provided each Monday and

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renewed on the following Friday. In the meantime, Party A will organize
professionals to proof read materials by Thursday. The intellectual rights for
the materials belong to Party A.

D.   Provision of test papers

Except for extra curricular knowledge, should provide for every chapter 1-2 sets
of revision papers, test papers for students, with 5-10 test sets each month.

E. The resources provided should come with the relevant teacher's name in order
to have the teachers' signatures for dissemination.

F. The resources provided should have a practical progress plan and it should be
provided according to the plan.

G. The executive deputy head master who is responsible for organizing the
resource materials will set up relevant subjects and grades, and will arrange
individual teachers to be in charge of different subjects and grades. They will
need to develop relevant research and teaching work for different subjects and
grades.

3.   Methods and requirements for production of network school resources by
     Party B

a.   Publish materials provided by Party A in a column primarily under the name
     of Party A (using its name).

b.   To produce with the supplementary resources a program titled " Famous
     teachers teaching guide" showing the relevant materials.

c.   To compile and edit test papers under the title of " Golden Network
     Question" date file.

d.   To produce and link extra curricular knowledge under the banner "Second
     Classroom".

e.   Tuesday to Thursday are the resources production time..

f.   To guarantee ease of use of platform and user software and care for the
     school resources editing system.

g.   To ensure the security of resources storage system..

4.   Responsibilities of each Party.

A.   Wuhan City Educational Commission

a.   To plan and coordinate the provision of resources to ensure the smooth flow
     of teaching materials.

b.   To decide on the relevant support and work of individual schools and
     relevant teachers.

c.   To assess and direct regularly on resources provided by each resource
     provider.

d.   To regularly inspect and direct on the production quality and technical
     support from Party B.

B    Wuhan City No.2 Secondary School

a.   To assess the correctness and value of resources provided, and to hold the
     intellectual rights of the test papers.

b.   To assess and check the correctness of teaching materials before
     dissemination.

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c.   Resources are mainly produced by Party B (except the production requested
     by schools). If the resources of Party A exist in electronic form the
     editing system should be compatible and transferable. If Party B is to
     change any content, it must get the consent of Party A.

d.   Schools should protect and guarantee the benefits of individual teachers
     who provide materials.

e.   Funds and facilities provided by Party B for construction of the school
     network must not be used for other purposes. Use of expenses must regularly
     be inspected by the Golden School Network and be audited by audit
     organizations.

C. Shenzhen Rayes Electronic Network System Co., Ltd. (Wuhan Branch)

a.   The Wuhan Branch of the company will pay RMB 20,000 in one payment to Wuhan
     No.2 Secondary School that is providing educational material for the
     Network to cover relevant expenses and teachers' wages. They will be paid
     within 15 working days of signing the agreement. The Branch will also
     provide 3 multi-media computers and relevant software for setting up a
     remote revision system that allows the teachers to make revisions to the
     materials while at their school.

b.   The Branch must guarantee the production quality will be the same as the
     original article.

c.   The Branch must promote Party A in different promotional activities.

d.   The Branch must train teachers on an enhanced standard of computer
     operations and Website production free of charge.

e.   The Branch must actively develop marketing work.

5. Operational regulations, pricing and profit sharing

Operation regulations

Wuhan No.2 Secondary School is selected as a provider school for the Wuhan
Golden Network School. Students using the system can choose one, or more than
one, selected school at which to study. The charge will be properly calculated
and recorded by computer.

B.Price

a.   Monthly fee: Student's connection fee will be charged monthly according to
     the standard charge rate of the network school.

b.   Standard Charge: This charge is decided according to the requirements of
     the Price Regulation and market conditions.

C.   Profit Sharing:

a.   Sharing index: The monthly income from the students using the network make
     up an index, from which the profit is shared.

b.   Profit sharing Ratios: Rayes Company; Wiring/line provider; Resource
     Provision Organiser - distribution via a ratio of 30:30:40 among the three
     parties.

c.   The writing fees of teachers will be paid according to unified standards.
     Supplementary resources will be paid at RMB 20 per 1,000 words. .

6.Responsibilities in any default of the contract

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a. If the Wuhan Branch of Shenzhen Rayes Electronic System breaches the
contract, Wuhan No. 2 Secondary School is not required to return the support
funds and equipment. The school also has the right to claim costs for materials
provided and has the right to terminate the contract.

b. If Wuhan No. 2 Secondary School terminates the contract without any reason,
it should return the supporting funds and equipment to the Wuhan Branch of the
Shenzhen Rayes.

7. Each party should adhere to the conditions. Any dispute should be resolved by
negotiations for the benefits of building an education network in Wuhan. If any
dispute in relation to this contract could not be resolved by negotiation, it
should be handled by law.

8. There should be 6 copies of the contract. Each party will keep 2 copies. The
contract becomes effective after representatives from both parties sign it and
the official stamps from both Parties are affixed.

9. The Wuhan Education  Commission will  responsible  for  negotiations  and the
monitoring  of each  party in  carrying  out  this  contract.  But they  have no
economic legal responsibility.

Wuhan City No.2 Secondary School
Singed by Representatives:
Date: 7th Jan, 2000

Wuhan City Education Commission
Singed by Representatives
Date: 7th Jan, 2000

Shenzhen Rayes Electronic Systems Co., Ltd. (Wuhan Branch)
Signed by Representatives:
Date: 7th Jan, 2000

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