SHANGHAI PREMISES LEASE CONTRACT

FORMULATED BY

SHANGHAI MUNICIPAL HOUSING, LAND AND RESOURCES ADMINISTRATION SHANGHAI ADMINISTRATION FOR INDUSTRY AND COMMERCE

PRINTED IN NOVEMBER, 2000

SPECIAL NOTES

I. This Contract applies to the pre-lease of commercial housing situated within the administrative

jurisdiction of Shanghai, as well as the lease of premises whose rent is determined by the related parties through negotiations according to reasonable market principles, exclusive of the lease of any publicly-owned residence premises at the rent ratio specified by Shanghai Municipal Government, of the public non-residence premises administratively allocated and invested by Shanghai Municipal Government, and of the private premises leased at the rent ratio specified by Shanghai Municipal Government prior to the implementation of the Regulations of Shanghai Municipal government on Premises Lease(hereinafter “the Regulations”).

II. The pre-lease hereunder is only restricted to such commercial housings as built by related real estate developers who has obtained the pre-sale permit, except for any commercial housing which has been pre-sold by related real estate developers; and no pre-lease may be made by any pre-buyer of commercial housing.

III. Both the terms 【For Lease】and 【For Pre-Lease】mentioned herein are for indicative purposes, denoting that related provisions or clauses marked with such terms apply to lease or pre-lease, as indicated respectively. When this Contract is used as a premises lease agreement, only those provisions marked with the word 【Lease】will be included and adopted as integral part of such lease agreement; likewise, when used as a commercial housing pre-lease contract, only those provisions marked with the【Pre-lease】,as well as the provisions entitled “Pre-lease Related Issues” as set out in the Supplemental Provisions, and other provisions not marked 【】may be included as the general terms and conditions, regardless of pre-lease or lease.

IV. In case this Contract is to be used for intended pre-lease of commercial housing, both parties to such pre-lease shall, upon the completion of the commercial housing, enter into the handover letter of commercial housing after related property developer has followed the required initial registration of real estate and acquired the real estate ownership certificate, for that purposes, that contract shall become the premises lease contract, and the original terms and conditions contained therein shall have been fully fulfilled.

V. This Contract is the tentative template prepared by Shanghai Administration of Property and Land Recourses in collaborations with Shanghai Municipal Bureau for Industry and Commerce, in accordance with the Regulations of Shanghai Municipal Government on Premises Lease, all terms and conditions contained herein are only for indicative purposes to be mutually agreed between the Parties hereto. Any issues not covered or defined herein may be resolved by entering into supplementary provisions by Party

A and Party

B through amicable negotiations.

VI. Prior to execution of this Contract, the lessor is required to present to the prospective lessee its real estate ownership and land use right certificate or other related ownership certificate, and appropriate property developer shall show the pre-lessee the pre-sales permit as duly obtained. Each party to an intended lease or prelease shall verify the identity certificate of others and deliver to others its own identity certificate. Where the intended lessee is an itinerant person from outside Shanghai, the lessor is also required to present the Permit of Premises Leasing security issued by related police authority.

VII. Related parties concerned shall, within fifteen (15) days upon execution of this Contract, follow related formalities of contract registration. Specifically, in the event of premises lease, register, and apply for the certificate of contract registration with the local appropriate real estate exchange center or farm system duly established at the place where such leased premises are located; in the event of pre-lease of commercial housings, the pre-lease of foreign-oriented commercial housings shall be registered with Shanghai Municipal Real Estate Exchange Center; the pre-lease of local-oriented commercial housing shall be registered with the real estate exchange center duly established at the place where such pre-leased premises is located. The property ownership certificate will be granted if the commercial housings under pre-lease mechanism are completed, and the related parties shall register, and apply for the certificate of contract registration with the local appropriate real estate exchange center or farm system duly established at the place where such leased premises are located, upon the execution of handover letter of commercial housings under pre-lease mechanism. Once duly registering with the above authority, the lessee has the right to claim against the third party in relation to any purported repeated pre-leases, transfer or discretional disposal of mortgaged premises during lease period, etc.

VIII. In the event one party requires to register while the other refuses to render necessary coordination,