English Summary of Maximum Amount Guarantee Agreement Contract No.: China Minsheng Bank Jinan Branch Gaobaozi 99162009298243

English Summary of Maximum Amount Guarantee Agreement

Contract No.: China Minsheng Bank Jinan Branch Gaobaozi 99162009298243

The Guarantor: Qingdao Free Trading Zone Sentaida International Trade Co., Ltd (“F.T.Z. Sentaida”)

The Creditor: China Minsheng Bank (“the Bank”)

The Debtor: Shandong Yongtai Chemical & Industrial Co., Ltd

1.

There is a loan agreement entered into between Yongtai and the Bank. That loan agreement and other agreements subordinated to the loan agreement constitutes the Underlying Contract to this Agreement.     

2.

The maximum principal amount of the Debtor’s indebtedness guaranteed by the Guarantor is RMB40,000,000. Any other liabilities related to this principal indebtedness which amount is under the maximum principal amount are also guaranteed by the Guarantor. The term of the Underlying Contract is from February 23, 2009 to February 23, 2010.  

3.

If the principal indebtedness is short term borrowings, the date on which the bank releases each installment may not exceed the expiration date of the Underlying Contract; if the principal indebtedness is notes, letter of credit and guarantee letter, then the date on which to discount notes, open letter of credit and guarantee letter may not exceed the expiration date of the Underlying Contract.  

4.

The Guarantor has the joint guarantee liability for the Debtor’s indebtedness under the Underlying Contract. The Guarantor’s obligation will not be affected, alleviated or exempted no matter whether any other guarantees to the principal indebtedness exist or not. The Bank has the priority right to exercise its right with respect to the Guarantor’s guarantee obligation; the Guarantor promises that its guarantee obligation will not be alleviated in the event that the Bank waives its priority right on the Debtor’s assets.  

5.

Any interest, compound interest and interest penalties relating to the principal and any expenses relating to the exercise of the Bank’s rights ( including, but not limited to lawyer fee, travel expense, and legal proceedings fee etc.) are all guaranteed by the Guarantor.  

6.

In the events of any of the followings, the guaranteed indebtedness is fixed:  

1)

The principal indebtedness becomes mature;  

2)

The Bank accelerates the principal indebtedness based on the relevant laws and regulations or defined under the Underlying Contract .  

7.

When the guaranteed indebtedness was fixed, any un-repaid indebtedness will be covered by the guarantee no matter whether the term of exercising the right against the indebtedness is expired or not or any conditions collateral to the indebtedness exist.  

8.

If the Debtor defaults its repayment obligation before all the principal indebtedness hereunder are repaid, the Bank has the right to require the Guarantor to assume the repayment obligation and the Guarantor shall fulfill its obligation promptly.  

9.

 The term of the Guarantee is two years st