English summary of Property Lease Agreement, dated January 25, 1999, by and among Jinjiang Chengchang Shoes Co., Ltd. and Shuiyuan Zhuang, Guoqing Zhuang, Guocan Zhuang and Guojian Zhuang

The usage of lease is for the dormitory of Party B’s staff. Without consent of Party A, the property shall not be used for other purpose.

Term of Lease: for January 30, 1999 to January 30, 2019. Rent per month is RMB 12,000.

Method of Payment: Party B shall pay Party A RMB 72,000 in every 6 months.

Neither Party shall terminate this agreement without cause during the term of lease. If either Party desires to terminate this Agreement with proper cause, such Party shall provide one-month prior written notice to the other Party and pay liquidated damage equal to one-month rent to the other Party.

During the term of lease, Party B shall comply with the local regulations on management of temporary residence and shall not utilize this property to conduct any illegal activity. Party A has rights to terminate this Agreement prior to the expiration of lease and the deposits paid by Party B will be compensated to Party A as liquidation damage in case that any of illegal activities is found in property. Party B will assume all civil, economic and legal liabilities incurred by illegal activities. Party A will not be responsible for such activities.

During the term of lease, Party B shall take care of all equipments inside and outside of the property. If the property and its supporting equipments are intentionally or negligently damaged by Party B, Party B shall be responsible for the recovery of the property and compensation for all economic losses. If Party B needs to decorate the property, Party B may renovate at its discretion with the consent of Party A, which, however, shall not damage the original construction structure.

When the lease is expired,

Party B shall return the property to Party A. If Party B desire to renew the property, it shall negotiate with Party A at least half a month prior to the expiration date and Party B shall have right of first refusal.

upon the expiration of lease, with the consent of Party A, Party B has priority to purchase this property at the same conditions.

Any of the unsettled matters can be solved by negotiation of Party A and Party B. Party A and Party B may make supplemental agreement, which is equally effective as this Agreement.

This Agreement is effective upon the execution and has two originals. Each Party holds one.