Feb.14, 2006, Shanghai ---- Shanghai Multimedia Park Venture Capital (MPVC, hereinafter) signed an agreement with Shanghai Shenguan (Shenguan, hereinafter) Property Development Co. Ltd. today to confirm their cooperation that Union Development Building of China (UDC Building, hereinafter) and Hualian Venture Park, two properties under the development of Shenguan, have been selected as two incubator bases of MPVC. Together with Multimedia Park, Zhao Feng World Trade Building and Huamin Empire Plaza, another three incubator bases locations, there're five incubator bases of MPVC.

MPVC, the fist professional incubator in multimedia industry in China, has nearly 200 companies settled down with the registered capital totaling to over one billion yuan RMB and has incubated several excellent enterprises, even have taken the leadership in the industry, during the short period of more than two years from its establishment. Among them, Focus Media, the first enterprise which grew up in an incubator and then fulfilled a successful overseas IPO has been known as one of Chinese companies which have the highest market price at Nasdaq.

The aim of two parties' cooperation is to provide privileged growing surroundings for more start-ups as well as plus more attractive resources to the reconstruction of urban old workshops. UDC Building, located at the crossing of Kai Xuan Rd. and Xin Hua Rd, is the largest building (13000 sq.m.) in the layout of 'Multimedia Corridor on Kai Xuan Rd.' and more than 50 companies have already set up offices in this building. Hualian Venture Park, located next to Suzhou River on Jiang Su Rd. (N), is reconstructed on a basis of an old workshop, which consists of several buildings of an area of nearly 10000 sq.m.. The reconstruction will be finished at the end of Apr. 2006.

Mr. Yu Wei, the Chairman of MPVC and Mr. Ren Yuanwei,
the General Manager of Shen Guan signed the agreement