Engagement of Placement Agents

                                                                   Exhibit 10.50


                                 March 30, 2006




Faith Bloom Limited
Youth Pioneer Park
Taian Economic and Development Zone
Taian City, Shandong Province
People's Republic of China
Attention:    Mr. Xiangzhi Chen, Chairman and CEO


         Re:      Engagement of Sterne,  Agee & Leach,  Inc.,  and Global Hunter
                  Securities,  as Co-Placement  Agents,  of up to $15,000,000 of
                  Common Stock of Faith Bloom Limited


Dear Mr. Chen:

         1.  Engagement  of Placement  Agents.  Faith Bloom  Limited,  a British
Virgin Island Company (the "Company"), proposes to make a private placement (the
"Offering") of up to $15,000,000 of the Company's  common stock,  par value $.01
per share (the  "Securities"),  pursuant  to the  exemptions  from  registration
provided in the Securities Act of 1933, as amended (the "1933 Act"),  applicable
state securities laws, and the rules and regulations promulgated thereunder (the
"Exemption").  By entering into this letter  agreement (this  "Agreement"),  the
Company  agrees to engage  Sterne,  Agee & Leach,  Inc.  ("Sterne  Agee") as its
co-placement  agent,  and Global  Hunter  Securities as its  co-placement  agent
("Co-Placement  Agent" and, together with Sterne Agee, the "Placement  Agents"),
in connection with the Offering.  Subject to the immediately following sentence,
by entering  into this  Agreement,  each of the  Placement  Agents  accepts such
engagement  and  agrees  to use its  reasonable  best  efforts  to  place  up to
$15,000,000 of the Securities  solely with investors which the Placement  Agents
reasonably believe to be "accredited investors", as such term is defined in Rule
501 of  Regulation  D  promulgated  under  the  1933  Act.  The  Company  hereby
acknowledges  and agrees that neither of the  Placement  Agents shall have,  and
that each of the Placement  Agents  specifically  disclaims,  any  obligation to
perform any of its  obligations  hereunder  until such time as the Company shall
have afforded the Placement Agents, and any of their respective representatives,
the  opportunity  to make such  investigations  of the business,  properties and
financial  and legal  conditions  of the  Company  and its  subsidiaries  as the
Placement  Agents  shall have from time to time  requested  (the "Due  Diligence
Investigation"),  and the  Placement  Agents  shall  have  determined,  in their
respective  sole  and  complete  discretion,  to act as the  Company's  managing
placement agent and  co-placement  agent,  respectively,  in connection with the
Offering.  The  offering  price per share of Security  shall be such price as is



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Faith Bloom Limited
March 30, 2006
Page 2


mutually  agreeable to the Company and the Placement  Agents.  The Company shall
prepare any and all offering documents necessary for the Offering to comply with
all provisions of the 1933 Act, the Securities  Exchange Act of 1934, as amended
(the "1934  Act"),  the rules and  regulations  of the  Securities  and Exchange
Commission (the "SEC")  promulgated under each of the 1933 Act and the 1934 Act,
and any  applicable  state  securities  laws  (the  "Offering  Documents").  The
Placement Agents hereby  acknowledge and agree that the Company may, in its sole
discretion,  reject any subscription for Securities  presented to the Company by
the Placement Agents. The parties to this Agreement hereby acknowledge and agree
that Sterne Agee shall have exclusive authority to determine the manner in which
the Securities will be allocated to the purchasers of the Securities.

         2. Fees.

         (a) In consideration of the Placement Agents' respective performance of
the  services  described  in  Section 1 hereof,  the  Company  agrees to pay the
Placement  Agents  an  aggregate  fee  equal to six  percent  (6%) of the  gross
proceeds  received by the Company from the sale of the Securities  placed by the
Placement Agents in the Offering (the  "Commissions").  The Commissions shall be
paid in full by the  Company  to the  Placement  Agents,  on a 50%/50%  pro-rata
basis,  upon the closing of any sale of  Securities  in the  Offering  (each,  a
"Closing"),  from time to time on an as-completed  basis. In the event that this
Agreement is terminated  for any reason other than a breach of this Agreement by
either of the Placement  Agents,  the Company shall pay the Placements Agents an
aggregate  fee (the  "Termination  Fee") equal to six percent  (6%) of the gross
proceeds of any sale of  securities  of the Company or any of its  affiliates to
any investor  which either of the Placement  Agents shall have from time to time
specifically identified in writing to the Company as possibly having an interest
in  investing  in the  Company,  provided  such sale is  consummated  within one
hundred  eighty (180) days  following the  termination  of this  Agreement.  Any
Termination  Fee  payable  hereunder  shall be  payable  by the  Company  to the
Placement Agents,  on a 50%/50% pro-rata basis,  immediately upon the closing of
each such sale.

         (b) Regardless of whether or not the Offering is consummated,  in whole
or in part, or whether this Agreement is terminated, the Company shall reimburse
each of the Placement  Agents for all  out-of-pocket  expenses  incurred by each
such  Placement  Agent from time to time in connection  with its  performance of
services  under  this  Agreement,   including,  without  limitation,  each  such
Placement  Agent's  attorneys'  fees and travel  expenses,  within ten (10) days
following  the  Company's  receipt of  written  demand  therefor  from each such
Placement Agent;  provided,  however, that the Company shall not be obligated to
reimburse the Placement Agents for more than $20,000 in out-of-pocket expenses.

         3.  Representations,  Warranties and Covenants of the Placement Agents.
Each of the Placement  Agents  represents  and warrants to, and agrees with, the
Company  that it is familiar or will make itself  familiar  with all  applicable
federal and state securities laws and the regulations  thereunder which restrict
the public sale and distribution of securities without a registration statement,
qualification or exemption being in effect with respect  thereto.  In exercising
its duties under this Agreement, each of the Placement Agents will not cause the
Company to be engaged in a public offering.



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Faith Bloom Limited
March 30, 2006
Page 3


         4.  Representations,  Warranties  and  Covenants  of the  Company.  The
Company  represents  and  warrants to, and agrees  with,  each of the  Placement
Agents as follows:

         (a) The Company will advise each of the Placement  Agents  promptly and
consult with each of the Placement Agents regarding the drafting of the Offering
Documents, and any amendments or supplements thereto, and all related documents,
including,  but not limited to, the private placement  memorandum,  subscription
agreements, registration rights agreements, confidential investor questionnaires
and any other documents associated with the Offering.

         (b) The Company  will not  distribute  any Offering  Documents,  or any
amendments  or  supplements  thereto,  that name either or both of the Placement
Agents as a placement agent to any potential  investor without the prior written
consent of each such Placement Agent, which consent may be withheld by each such
Placement Agent in its sole and complete discretion.

         (c) The Company will furnish to each of the Placement  Agents copies of
all Offering  Documents in such quantities as each such Placement Agent may from
time to time request.

         (d) The Offering Documents,  and any amendments or supplements thereto,
will conform in all respects to the  requirements of the 1933 Act, the 1934 Act,
the rules and regulations of the SEC promulgated  under each of the 1933 Act and
the 1934  Act,  and any  applicable  state  securities  laws,  and the  Offering
Documents,  and any  amendments  or  supplements  thereto,  will not include any
untrue  statement of a material fact or omit to state any material fact required
to be stated therein or necessary to make the statements therein not misleading,
except that this  representation  and warranty  will not apply to  statements or
omissions made in reliance upon and in conformity with information  furnished by
the Placement  Agents in writing to the Company in connection  with the Offering
Documents, or any amendment or supplement thereto.

         (e) If any  event  occurs  as a  result  of which  any of the  Offering
Documents,  or any  amendments or supplements  thereto,  would include an untrue
statement of a material  fact, or omit to state any material  fact  necessary to
make the statements  therein, in the light of the circumstances under which they
were made, not misleading, or if it is necessary at any time to amend any of the
Offering  Documents,  or any  amendments or  supplements  thereto,  to otherwise
comply  with  either  or both of the 1933 Act or the 1934  Act,  the  rules  and
regulations  of  the  SEC  promulgated  thereunder,   or  any  applicable  state
securities  laws,  and such  event is known to the  Company,  the  Company  will
promptly (i) prepare an amendment or supplement  thereto which will correct such
statement  or  omission,  or otherwise  effect such  compliance,  (ii) file such
amended or supplemented  Offering Documents with the SEC or any applicable state
securities  commission,  if so  required,  and  (iii)  supply  such  amended  or
supplemented Offering Documents to each of the Placement Agents, in each case as
soon as available and in such  quantities as each such Placement  Agent may from
time to time request.



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Faith Bloom Limited
March 30, 2006
Page 4



         (f) The Company shall promptly notify each of the Placement Agents of
material events which would necessitate modification of any Offering Documents,
or any amendments or supplements thereto.

         (g) The Company shall be responsive to each Placement Agent's inquiries
about the  Company's  ongoing  operations as they relate to the Offering and the
Offering Documents,  or any amendments or supplements thereto. The Company shall
permit  each of the  Placement  Agents  and  their  respective  representatives,
including,  without  limitation,  their respective legal counsel, to conduct the
Due Diligence  Investigation,  as each such  Placement  Agent shall from time to
time request. The Due Diligence  Investigation,  whether made by or on behalf of
either or both of the Placement Agents,  shall under no circumstances affect any
of  the  representations  and  warranties  of  the  Company  contained  in  this
Agreement.

         (h) The Company  will not take any action,  or omit to take any action,
whether  prior to,  during  or  following  the  Offering,  that  will  cause the
Exemption not to be available to the Company and the Offering.

         (i) The Company shall make available to each  prospective  purchaser of
Securities at a reasonable time prior to such prospective  purchaser's  purchase
of Securities,  the opportunity to ask questions and receive answers  concerning
the  terms  and  conditions  of  the  Offering  and  to  obtain  any  additional
information  which the Company  possesses  or can acquire  without  unreasonable
effort or expense  that is  necessary  to verify the  accuracy  of the  Offering
Documents.

         (j) The  Company  shall  not  offer or sell  Securities  by any form of
general solicitation or general advertising.

         (k) Any offer or sale of any security of the Company made by or for the
Company within six (6) months  preceding the date of this Agreement (i) complied
in all respects with the  requirements  of the 1933 Act, the 1934 Act, the rules
and regulations of the SEC  promulgated  under each of the 1933 Act and the 1934
Act, and any applicable state securities laws, and (ii) was made only to persons
or entities deemed to be "accredited  investors"  within the meaning of Rule 501
of Regulation D promulgated under the 1933 Act.

         (l) The Company has full legal right, power and authority to enter into
this Agreement and perform the transactions  contemplated hereby. This Agreement
has been duly  authorized,  executed and delivered by the Company and is a valid
and  binding  agreement  on the part of the  Company,  enforceable  against  the
Company  in  accordance  with its  terms,  except  as rights  to  indemnity  and
contribution  hereunder  may be  limited  by  applicable  laws and except as the
enforcement  hereof  may  be  limited  by  applicable  bankruptcy,   insolvency,
reorganization,   moratorium  or  similar  laws  affecting   creditors'   rights
generally, or by general equitable principles.



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Faith Bloom Limited
March 30, 2006
Page 5



         5. Conditions to Closing.

         (a)  The  Company's   obligation  to  pay  the  Placement   Agents  the
Commissions and to take any other actions required to be taken by the Company at
a Closing is subject to any satisfaction, at or prior to the Closing, of each of
the following conditions (any of which may be waived by the Company, in whole or
in part):

                  (i) All representations and warranties of the Placement Agents
         contained herein shall be true and correct in all material  respects on
         and as of the date of the Closing  (the  "Closing  Date") as if made on
         and as of the Closing Date.

                  (ii) Each of the covenants and obligations  that the Placement
         Agents  are  required  to perform or to comply  with  pursuant  to this
         Agreement at or prior to the Closing must have been duly  performed and
         complied with in all material respects.

                  (iii) Neither the Company nor any of its  affiliates  shall be
         subject  to any order,  decree or  injunction  by a court of  competent
         jurisdiction which prevents the consummation of any of the transactions
         contemplated by this Agreement.

                  (iv) No statute, rule or regulation shall have been enacted by
         the government (or any governmental agency) of the United States or any
         state,  municipality or other political  subdivision thereof that makes
         the  consummation  of any  of the  transactions  contemplated  by  this
         Agreement illegal.

         (b) The Placement Agents' respective obligation to use their respective
reasonable  best efforts to place the  Securities  and to take any other actions
required to be taken by them at a Closing is subject to the satisfaction,  at or
prior to the Closing,  of each of the following  conditions (any of which may be
waived by the Placement Agents, in whole or in part):

                  (i)  All   representations   and  warranties  of  the  Company
         contained herein shall be true and correct in all material  respects on
         and as of the Closing Date as if made on and as of the Closing Date.

                  (ii) Each of the covenants and obligations that the Company is
         required to perform or to comply with pursuant to this  Agreement at or
         prior to the Closing must have been duly performed and complied with in
         all material respects.

                  (iii)  The  Placement  Agents  shall  have  received  from the
         Company's counsel, an opinion,  dated as of the Closing Date, addressed
         to the Placement  Agents and each of the purchasers of Securities,  the
         form and  substance  of  which  shall be  acceptable  to the  Placement
         Agents.



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Faith Bloom Limited
March 30, 2006
Page 6



                  (iv) The Placement  Agents shall have received a duly executed
         certificate of the Company's  Secretary,  dated as of the Closing Date,
         (1)  certifying,  as complete  and  accurate  as of the  Closing  Date,
         attached copies of the Company's charter and bylaws; (2) certifying and
         attaching  all  requisite   resolutions  of  the  Company's   Board