English Summary of Guarantee Agreement

The maximum principal amount of the Debtor’s indebtedness guaranteed by the Guarantor is RMB60,000,000. Any interest, compound interest and interest penalties relating to the principal and any expenses relating to implementation of the Bank’ s rights are all guaranteed by the Guarantor.

Within the maximum guaranteed, all loan agreements signed by and between the Debtor and the Bank are the Principal C ontract. The term of the Principal Contract is from March 21, 2008 to March 21, 2009. The term of the Guarantee Agreement is two years starting from the due date of the indebtedness.

The Guarantor has the joint guarantee liability for the Debtor’s indebtedness under the Principal Contract . When the Debtor is in default of its repayment obligation , the Bank has the absolute right to require the Guarantor to assume the repayment obligation.

All documents, materials and certificates provided by the Guarantor are true, complete and accurate. Except as disclosed to the Bank, there is no undisclosed material indebtedness, material breach of contracts, material litigation or material arbitration of the Guarantor that may adversely affect the enforcement of the Agreement.

During the term of this Agreement, the Guarantor should give written notice to the Bank within 15 days after the Guarantor changes its domicile, name, telephone and facsimile. If the Guarantor’s legal representative is changed, the Guarantor should inform the Bank within 7 days.

During the term of this Agreement, the Guarantor should give written notice 30 days in advance if any of the following events occurs: common stock transferring, acquisition, change of business scope, disposition of significant amount of assets, change of registered capital, entry into material lease agreement, and the establishment of a joint venture.

When the Debtor defaults its obligation and the Bank requires the Guarantor to assume the repayment obligation, the Guarantor should repay the Bank immediately after receiving the Bank’s written notice.

If the Guarantor fails to fulfill its obligation under Section 7(5), the Bank has the right to set off against the Guarantor’s cash balance deposited with the Bank or dispose the assets of the Guarantor that are legally controlled or managed by the Bank.

During the term of the Agreement, there is no need to obtain the consent of the Guarantor if the Debtor and the Bank have reached an agreement to amend the provisions of the Principal Contract unless the changes result in more obligations for the Guarantor. If the Guarantor’ s obligation is increased without the Guarantor’s consent in advance, then, the Guarantor has the right to refuse to assume the increased obligation.