Term Loan Agreement between Tianjin Tianshi Biological Development Co., Ltd. and Tianjin Tianshi Group Co., Ltd. dated September 7, 2005

Summary

Tianjin Tianshi Biological Development Co., Ltd. (the Lender) agrees to loan RMB 8 million to Tianjin Tianshi Group Co., Ltd. (the Borrower) from September 7, 2005, to December 31, 2005. The Borrower will pay interest at an annual rate of 5.22%, as set by the People's Bank of China. The Borrower must repay the full principal and interest by December 31, 2005, but may repay early with the Lender's approval. Both parties have signed and agreed to these terms.

EX-10.4 5 tiens10qex104093005.txt TERM LOAN AGREEMENT DATED SEPTEMBER 7, 2005 Exhibit 10.4 Term Loan Agreement Party A (hereinafter referred to as the "Lender"): Tianjin Tianshi Biological Development Co., Ltd. Party B (hereinafter referred to as the "Borrower"): Tianjin Tianshi Group Co., Ltd. The lender and the Borrower have reached and signed a loan agreement which should be observed by both parties. 1. The Lender agrees to make a loan of RMB 8 million (Y8,000,000.00) to the Borrower. 2. The term of this loan agreement is from September 7, 2005 to December 31, 2005. 3. The Borrower shall pay interest to the Lender at a rate that is equal to the contemporary interest rate published by the People's Bank Of China (rate per annual is equal to 5.22%). Interest shall be calculated immediately after the principal of the loan is transferred into the Borrower's account. 4. The Borrower guarantees to repay the principal and interest of the loan by December 31, 2005, and terms of the loan agreement shall not be breached. 5. Upon the approval by the lender the Borrower can pay off the principal and interest of the loan before December 31, 2005. The Lender: The Borrower: Tianjin Tianshi Biological Development Tianjin Tianshi Group Co., Ltd. Co., Ltd. By /s/ Jinyuan Li By /s/ Baolan Li ---------------------------------- -------------------------------- Title: General Manager Title: Director ------------------------------ ---------------------------- September 7, 2005 September 7, 2005