Amendment to the Purchase Agreement
by and between Eternal Technologies Group Limited (and Shang Jai Ji
This amendment made on this 4th day of May 2003, but effective as of
July 15, 2000 by and between Eternal Technologies Group Ltd. (hereinafter
"Eternal") and Shang Jai Ji (hereinafter "Shang").
WHEREAS, on July 15, 2000, Eternal and Shang exectued an agreement
whereby Eternal purchased 100% of the issued and outstanding shares of Willsley
Company Limited, and ;
WHEREAS, the purchase price for such interest was US$47,108,346;
WHEREAS, the parties wish to modify this agreement to restate the
purchase price.
NOW THEREFORE, in consideration of the sum of $1.00 and other good and
valuable consideration, the adequacy of which is hereinafter stated, the parties
agree as follows:
1. Article 1 of the Areement, dated July 15, 2000, is hereby amended by
substituting the sum of US$6,000,000 for the sum of US$47,108,346.
2. All other terms and conditions as spelled out in the Agreement dated
July 15, 2000 shall remain in full force and effect unless amended by
in working and signed by both parties hereto.
3. This amendment shall be governed and construed in accordance with the
laws of Hong Kong.
In witness here the parties have executed this agreement on this 4th day of May
2003.
Eternal Technologies Group Limited
/s/ Shang Jai Ji
-----------------------------------
By:___________________________ Shang Jai Ji
Its:Chairman
Date: May 4, 2003
Date: May 4, 2003
