EXHIBIT 10.48
TERMINATION AGREEMENT
This Termination Agreement (this "Agreement") is signed 27 November,
2003 between the following two parties.
PARTY A: Shanghai Huitong Information Co., Ltd.
ADDRESS: Xx.00, Xxxxx Xxxx, Xxxxxxx Xxxxxxxx, Xxxxxxxx
PARTY B: Hu Ankai
ADDRESS: Xx.00, Xxxx 0000, Xxxxxxxx Xxxx, Xxxxxxxx
0 WHEREAS, Party A and Party B signed the loan agreement (the "Loan
Agreement") in January 16th, 2002.
2 WHEREAS, Party A and Party B intent to terminate the Loan Agreement.
NOW THEREFORE, both parties agree as follows:
1. Party A and Party B agree to terminate the Loan Agreement and the Loan
Agreement shall terminate automatically upon this Agreement coming into
effect.
2. Rights and obligations of Party A and Party B under the Loan Agreement
shall terminate upon the termination of the Loan Agreement.
3. This Agreement shall be effective as of the date of execution.
4. This Agreement shall be governed by the laws of People's Republic of
China.
5. This Agreement is executed by Chinese and English in duplicate, and in
case of confliction, the Chinese version shall prevail.
PARTY A: SHANGHAI HUITONG INFORMATION CO., LTD.
Representative: /s/ Xxx Xx
PARTY B: /s/ Hu Ankai
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