EQUIPMENT LEASE CONTRACT

EQUIPMENT LEASE CONTRACT Leaser: Shanghai CRC Telecom Company Limited (Referred as Party A) Leasee: Asia Payment Systems,Inc. (Referred as Party B) According to "Law of Contract of People's Republic of China", the Party A and Party B have concluded lease contract of communication equipment and agree to: 1. Party A provides following communication equipments and resources for Party B in accordance with the equipments and technical parameters provided by Party B. (See the relevant list in the appendix) 2. Party A hands over the resources and equipments to Party B in 2005 year ---- end Of 03 month with the Party B's requirement Party B sets up data center with -- the aforementioned resources and equipments and provides Party A the Confirmation Letter of Use. 1 3. Party B is responsible for the check of equipment, download and use of software etc. 4. During the lease period, Party B is entitled to use the equipments, but the equipment cannot be transferred and mortgaged. In addition, Party B cannot add or discharge any parts of the equipments or change the installation place without Party A's consent. Party A is entitled to check whether the equipments work properly without damage and Party B should provides any convenient assistance when the check is performed. 5. The lease period is 2 years. And the period is from the day when Party A - is paid the rent by Party B. The rent is 1149600 RMB in total and is paid by the ------- year with each month 47900 RMB. The Party B pays the rent at the beginning of ----- each year. If Party B cannot pay the rent at the due time, Party A is entitled to be paid a fine of 3 in ten thousandth of total tent due to Party A. 6. The contract cannot be abandoned after it is concluded. If Party B pays the rent in advance, the contr