EXHIBIT 10.11
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 Biological
Engineering 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 200
million((pound)*200,000,000.00) to the Borrower.
2. The term of this loan agreement is from January 1, 2006 to March
31, 2006.
3. The loan is for short-term loan and non-interest bearing.
4. The Borrower guarantees to repay the loan by March 31, 2005, and
terms of the loan agreement shall not be breached.
5. The Lender can call the loan back whenever it is necessary.
6. Upon the approval by the lender the Borrower can pay off the
loan before March 31, 2005.
The Lender: The Borrower:
Tianjin Tianshi Biological Development Tianjin Tianshi Biological Engineering
Co., Ltd Co., Ltd
By /s/ Xxxxxxx Xx By /s/ Xxxxxx Xx
------------------------------- --------------------------------
Title: General Manager Title: General Manager
January 1, 2006 January 1, 2006
