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<title>CHINA MEDIA GROUP CORPORATION</title>
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<b>

<p ALIGN="CENTER"><font face="Times New Roman">UNITED STATES<br>
SECURITIES AND EXCHANGE COMMISSION<br>
WASHINGTON, D.C. 20549</font></p>
</b>

<p ALIGN="CENTER"><font face="Times New Roman">__________________</font></p>
<b>

<p ALIGN="CENTER"><font face="Times New Roman">FORM 8-K</font></p>

<p ALIGN="CENTER"><font face="Times New Roman">CURRENT REPORT</font></p>

<p ALIGN="CENTER"><font face="Times New Roman">PURSUANT TO SECTION 13 OR 15(d) of the<br>
SECURITIES EXCHANGE ACT OF 1934</font></p>
</b>

<p ALIGN="CENTER"><font face="Times New Roman">__________________</font></p>

<p ALIGN="CENTER"><font face="Times New Roman">January 8, 2008</font></p>
<b><u>

<p ALIGN="CENTER"><font face="Times New Roman">CHINA MEDIA GROUP CORPORATION<br>
</u>(Exact Name of Registrant as Specified in Charter)</font><u></p>
</u></b>

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    <td WIDTH="37%" VALIGN="middle"><u><b><p ALIGN="CENTER"><font face="Times New Roman">Texas<br>
    </b></u>(State or other jurisdiction<br>
    of incorporation)</font></td>
    <td WIDTH="32%" VALIGN="middle"><u><b><p ALIGN="CENTER"><font face="Times New Roman">333-141129<br>
    </b></u>(Commission<br>
    File Number)</font></td>
    <td WIDTH="32%" VALIGN="middle"><u><b><p ALIGN="CENTER"><font face="Times New Roman">32-0034926<br>
    </b></u>(IRS Employer<u><b><br>
    </b></u>Identification No.)</font></td>
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    <td WIDTH="65%" VALIGN="middle"><u><b><p ALIGN="CENTER"><font face="Times New Roman">Room
    1403, 14/F., 194-204 Johnston Road, Wan Chai Commercial Centre, Wan Chai, Hong Kong</font></b></u></td>
    <td WIDTH="35%" VALIGN="middle"><u><b><p ALIGN="CENTER"><font face="Times New Roman">n/a</font></b></u></td>
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    <td WIDTH="65%" VALIGN="middle"><p ALIGN="CENTER"><font face="Times New Roman">(Address of
    principal executive offices)</font></td>
    <td WIDTH="35%" VALIGN="middle"><p ALIGN="CENTER"><font face="Times New Roman">(Zip code)</font></td>
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    <td WIDTH="65%" VALIGN="middle"><p ALIGN="CENTER"><font face="Times New Roman">Registrant's
    telephone number, including area code:</font></td>
    <td WIDTH="35%" VALIGN="middle"><b><p ALIGN="CENTER"><font face="Times New Roman">011 852
    3171 1208 (Ext.222)</font></b></td>
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    <td VALIGN="top" width="100%" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Check
    the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
    filing obligation of the registrant under any of the following provisions:<br>
    <br>
    </font>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;<font face="Times New Roman">Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)<br>
    <br>
    </font>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;<font face="Times New Roman">Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<br>
    <br>
    </font>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;<font face="Times New Roman">Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<br>
    <br>
    </font>[&nbsp;&nbsp;&nbsp;]&nbsp;&nbsp;<font face="Times New Roman">Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act&nbsp; (17 CFR
    240.13e-4(c))</font></td>
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<br><br>

<p></p>
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    <td WIDTH="14%" VALIGN="TOP"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Item 1.01</font></b></td>
    <td WIDTH="86%" VALIGN="TOP"><u><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Entry
    into a Material Definitive Agreement</font></b></u></td>
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    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">On or about December 7, 2006,
    China Media Group Corporation, a Texas corporation (the &quot;<u>Company</u>&quot;),
    entered into a Debenture Purchase Agreement (the &quot;<u>DPA</u>&quot;) with Tailor-Made
    Capital Ltd (&quot;<u>TMC</u>&quot;), an Israeli Company affiliated with Meitav Investment
    House (&quot;<u>Meitav</u>&quot;), which is a privately owned asset management and
    investment banking firm based in Israel. Pursuant to the terms of the DPA, the Company may
    sell and issue to TMC, and TMC will purchase from the Company, up to an aggregate of
    $125,000 of convertible debentures (the &quot;<u>Debentures</u>&quot;) of the Company in 3
    different tranches which will be due 12 months from the date of each issuance.</font></td>
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    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">On the December 20, 2006, the
    Company issued the first tranche of $50,000 worth of convertible debentures (the
    &quot;First Tranche Debenture&quot;), which has a maturity date of December 20, 2007, and
    on March 27, 2007, both the Company and TMC agreed and executed the second tranche of
    $50,000 worth of convertible debentures and the third tranche of $25,000 worth of
    convertible debenture (the &quot;Second Tranche Debenture&quot;), which has a maturity
    date of March 28, 2008, together.</font></td>
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    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Under the terms of the
    Debentures, the Company shall pay interest to TMC on the aggregate unconverted and
    outstanding principal amount of the Debentures at the rate of 10% per annum, payable
    annually, on the date on which conversions, if any, will be effected by the holder of said
    Debentures (each a &quot;<u>Conversion Date</u>&quot;), and on the Maturity Date.</font></td>
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    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">On December 20, 2007, the
    maturity date for the repayment of the interest and the First Tranche Debenture, both
    parties agreed to be entered into a Second Amendment Agreement (the &quot;SAA&quot;) on
    January 4, 2008 to amend and restate the terms of the First Tranche Debenture as follows:</font></td>
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    <td WIDTH="6%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">*</font></td>
    <td WIDTH="94%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">To postpone
    the repayment of the First Tranche Debenture (interest and principal amount) from December
    20, 2007 to March 28, 2008; and</font></td>
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    <td WIDTH="6%" VALIGN="top" height="15"></td>
    <td WIDTH="94%" VALIGN="top" height="15"></td>
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    <td WIDTH="6%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">*</font></td>
    <td WIDTH="94%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Company
    shall issue 2,631,579 restricted shares (the "Shares") to TMC as consideration for the postponement of
    the repayment of the First Tranche Debenture.</font></td>
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</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">1</font></p>

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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Under the terms of the
    related registration rights agreements between the Company and TMC (the &quot;<u>RRA</u>&quot;)
    for the SAA, TMC will be entitled to resell the Shares as soon as the
    Company files a resale registration statement (the &quot;<u>Registration Statement</u>&quot;)
    with the U.S. Securities and Exchange Commission (the &quot;<u>Commission</u>&quot;) and
    the Registration Statement is declared effective by the Commission. Under the terms of the
    RRA, the Company must file the Registration Statement for the Shares on or before the 15<sup>th</sup>
    calendar day following the date of the execution of the SAA, and such Registration Statement must be
    declared effective by the Commission on or before the 60<sup>th</sup> calendar day
    following the date of execution the SAA. </font></td>
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    <td WIDTH="14%" VALIGN="TOP"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Item 3.02</font></b></td>
    <td WIDTH="86%" VALIGN="TOP"><u><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Unregistered
    Sales of Equity Securities</font></b></u></td>
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    <td VALIGN="top" height="15"><font face="Times New Roman">Pursuant to the SAA described in
    Item 1.01 above, the Registrant will issue 2,631,579 shares of common stock to TMC. The
    Common Shares issued will be restricted securities within the meaning of Rule 144 under
    the Securities Act. These shares cannot be sold, transferred or otherwise disposed of
    unless they are subsequently registered under the Securities Act or an exemption from
    registration is then available.</font></td>
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    <td WIDTH="14%" VALIGN="TOP"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Item 9.01</font></b></td>
    <td WIDTH="86%" VALIGN="TOP"><u><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Financial
    Statements and Exhibits</font></b></u></td>
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    <td WIDTH="5%" VALIGN="TOP"><font face="Times New Roman">(d)</font></td>
    <td WIDTH="3%" VALIGN="TOP"></td>
    <td WIDTH="93%" VALIGN="TOP"><i><font face="Times New Roman">Exhibits</font></i></td>
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    <td WIDTH="93%" VALIGN="top" height="15"></td>
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    <td WIDTH="18%" VALIGN="TOP" BGCOLOR="#c0c0c0"><b><font face="Times New Roman">Exhibit</font></b></td>
    <td WIDTH="82%" VALIGN="TOP" BGCOLOR="#c0c0c0"><b><font face="Times New Roman">Description</font></b></td>
  </tr>
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    <td WIDTH="18%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Exhibit 10.1 </font></td>
    <td WIDTH="82%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Debenture
    Securities Purchase Agreement by and between the Company and TMC *</font></td>
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    <td WIDTH="18%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Exhibit 10.2</font></td>
    <td WIDTH="82%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Convertible
    Debenture issued to TMC by the Company *</font></td>
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    <td WIDTH="18%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Exhibit 10.3</font></td>
    <td WIDTH="82%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Debenture
    Registration Rights Agreement by and between the Company and TMC *</font></td>
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    <td WIDTH="18%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Exhibit 10.4</font></td>
    <td WIDTH="82%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Second
    Amendment Agreement by and between the Company and TMC, provided herewith.</font></td>
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    <td WIDTH="18%" VALIGN="top" height="15"></td>
    <td WIDTH="82%" VALIGN="top" height="15"></td>
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    <td WIDTH="11%" VALIGN="TOP"><font SIZE="3"><p ALIGN="CENTER"><font face="Times New Roman">*</font></font></td>
    <td WIDTH="89%" VALIGN="TOP"><font SIZE="3"><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Incorporated by reference to our Current Report on Form 8-K filed
    with the SEC on December 13, 2006.</font></font></td>
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<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">2</font></p>

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<b>

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<p ALIGN="CENTER"><font face="Times New Roman">SIGNATURES</font></p>
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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Pursuant to the
    requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly
    caused this Current Report to be signed on its behalf by the undersigned hereunto duly
    authorized.</font></td>
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    <td WIDTH="45%" VALIGN="TOP"><font face="Times New Roman">Date: January 8, 2008</font></td>
    <td WIDTH="55%" VALIGN="TOP"><b><font face="Times New Roman">CHINA MEDIA GROUP CORPORATION</font></b></td>
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    <td WIDTH="45%" VALIGN="TOP"></td>
    <td WIDTH="55%" VALIGN="TOP"></td>
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    <td WIDTH="45%" VALIGN="TOP"></td>
    <td WIDTH="55%" VALIGN="TOP"><font face="Times New Roman">By: <i>/s/ Con Unerkov<br>
    </i><u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
    </u><i><br>
    </i>Name: Con Unerkov<i><br>
    </i>Title: President</font></td>
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<br><br>
<b>

<p ALIGN="CENTER"><font face="Times New Roman">EXHIBIT INDEX</font></p>
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    <td WIDTH="18%" VALIGN="TOP" BGCOLOR="#c0c0c0"><b><font face="Times New Roman">Exhibit</font></b></td>
    <td WIDTH="82%" VALIGN="TOP" BGCOLOR="#c0c0c0"><b><font face="Times New Roman">Description</font></b></td>
  </tr>
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    <td WIDTH="18%" VALIGN="TOP"><font face="Times New Roman">Exhibit 10.1 </font></td>
    <td WIDTH="82%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Debenture
    Securities Purchase Agreement by and between the Company and TMC *</font></td>
  </tr>
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    <td WIDTH="18%" VALIGN="TOP"><font face="Times New Roman">Exhibit 10.2</font></td>
    <td WIDTH="82%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Convertible
    Debenture issued to TMC by the Company *</font></td>
  </tr>
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    <td WIDTH="18%" VALIGN="TOP"><font face="Times New Roman">Exhibit 10.3</font></td>
    <td WIDTH="82%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Debenture
    Registration Rights Agreement by and between the Company and TMC *</font></td>
  </tr>
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    <td WIDTH="18%" VALIGN="TOP"><font face="Times New Roman">Exhibit 10.4</font></td>
    <td WIDTH="82%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Second
    Amendment Agreement by and between the Company and TMC, provided herewith.</font></td>
  </tr>
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    <td WIDTH="18%" VALIGN="top" height="15"></td>
    <td WIDTH="82%" VALIGN="top" height="15"></td>
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    <td WIDTH="10%" VALIGN="TOP"><font SIZE="3"><p ALIGN="CENTER"><font face="Times New Roman">*</font></font></td>
    <td WIDTH="90%" VALIGN="TOP"><font SIZE="3"><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Incorporated by reference to our Current Report on Form 8-K filed
    with the SEC on December 13, 2006.</font></font></td>
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</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">3</font></p>

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    <td WIDTH="50%" VALIGN="TOP"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">EXHIBIT
    10.4</font></b></td>
    <td WIDTH="50%" VALIGN="TOP"></td>
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</center></div><b>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">SECOND AMENDMENT AGREEMENT</font></p>
</b><div align="center"><center>

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    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">This SECOND AMENDMENT
    AGREEMENT (this &quot;<u>Agreement</u>&quot;) is entered into as of January ___, 2008
    between China Media Group Corporation, a Texas corporation (the &quot;<u>Company</u>&quot;)
    and Tailor-Made Capital Ltd. (the &quot;<u>Holder</u>&quot;).</font></td>
  </tr>
</table>
</center></div><u>

<p ALIGN="CENTER"><font face="Times New Roman">Preliminary Statement</u>:</font></p>
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    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">A.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The
    Company and the Holder entered into a Securities Purchase Agreement, dated as of December
    12, 2006 (the &quot;<u>Purchase Agreement</u>&quot;), pursuant to which the Company agreed
    to issue and sell to the Holder, and the Holder agreed to purchase from the Company, up to
    an aggregate of $125,000 of the Company's 10% Convertible Debentures (each, a &quot;<u>Debenture</u>&quot;
    and collectively, the &quot;<u>Debentures</u>&quot;) in separate closings (each closing, a
    &quot;<u>Tranche</u>&quot;), subject to the terms and conditions of the Purchase
    Agreement;</font></td>
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    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
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    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">B.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The first Tranche
    closed on December 12, 2006 and the Debenture issued in connection therewith had a
    principal amount of $50,000 (such amount &quot;<u>First Tranche Principal Amount</u>&quot;)
    and a maturity date of December 20, 2007 (such Debenture, the &quot;<u>First Tranche
    Debenture</u>&quot;);</font></td>
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    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
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    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">C.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The second Tranche
    closed on March 27, 2007 and the Debenture issued in connection therewith had a principal
    amount of $75,000 and a maturity date of December 12, 2007 (such Debenture, the &quot;<u>Second
    Tranche Debenture</u>&quot;);</font></td>
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    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
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    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">D.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Company and the
    Holder entered into an Amendment Agreement on May 21, 2007 (the &quot;<u>First Amendment
    Agreement</u>&quot;) whereby the maturity date of the Second Tranche Debenture was
    extended until March 28, 2008; and</font></td>
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  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">E.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Company and the
    Holder wish to amend the terms of the First Tranche Debenture as set forth in this
    Agreement.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="TOP"><p ALIGN="JUSTIFY"><p ALIGN="JUSTIFY"><font face="Times New Roman">NOW THEREFORE, the
    Company and each Holder, in consideration of the mutual covenants contained in this
    Agreement, do hereby agree as follows:</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">1.</font></td>
    <td WIDTH="93%" VALIGN="TOP"><u><p ALIGN="JUSTIFY"><font face="Times New Roman">Definitions</u>.
    All initially capitalized, undefined terms used herein shall have the meanings ascribed to
    such terms in the Purchase Agreement, the First Amendment Agreement and the Transaction
    Documents.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">4</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">2.</font></td>
    <td WIDTH="93%" VALIGN="TOP"><u><p ALIGN="JUSTIFY"><font face="Times New Roman">Amendment
    to the First Tranche Debenture</u>. The Company and the Holder hereby amend and restate
    the title and first two paragraphs of the First Tranche Debenture as follows:</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="24%" VALIGN="TOP"></td>
    <td WIDTH="76%" VALIGN="TOP"><i><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;10%
    Convertible Debenture<br>
    Due March 28, 2008</font></i></td>
  </tr>
  <tr>
    <td WIDTH="24%" VALIGN="top" height="15"></td>
    <td WIDTH="76%" VALIGN="top" height="15"><i><font face="Times New Roman"></font></i></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><i><p ALIGN="JUSTIFY"><font face="Times New Roman">THIS
    DEBENTURE is one of a series of duly authorized and validly issued 10% Convertible
    Debentures of China Media Group Corporation, a Texas corporation, having its principal
    place of business at c/o Yuen Partners, 10<sup>th</sup> Floor, Chiyu Bank Building, No. 78
    Des Voeux Road Central, Hong Kong (the &quot;<u>Company</u>&quot;), designated as its 10%
    Convertible Debenture due March 28, 2008 (this debenture, the &quot;<u>Debenture</u>&quot;
    and, collectively with the other such series of debentures, the &quot;<u>Debentures</u>&quot;).</font></i></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><i><font face="Times New Roman"></font></i></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><i>FOR VALUE RECEIVED, the
    Company promises to pay to Tailor-Made Capital Ltd. or its registered assigns (the &quot;<u>Holder</u>&quot;),
    or shall have paid pursuant to the terms hereunder, the principal sum of $50,000 on March
    28, 2008 (the &quot;<u>Maturity Date</u>&quot;) or such earlier date as this Debenture is
    required or permitted to be repaid as provided hereunder, and to pay interest to the
    Holder on the aggregate unconverted and then outstanding principal amount of this
    Debenture in accordance with the provisions hereof. This Debenture is subject to the
    following additional provisions: </i>&quot;<i></i></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><i><font face="Times New Roman"></font></i></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">3.</font></td>
    <td WIDTH="93%" VALIGN="TOP"><u><p ALIGN="JUSTIFY"><font face="Times New Roman">Issuance
    of Shares of Common Stock</u>.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">a)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">In
    consideration for extending the Maturity Date of the First Tranche Debenture, the Company
    shall issue to the Holder a number of shares of Common Stock at a per share purchase price
    equal to __________ (such shares, the &quot;<u>Shares</u>&quot;). On or prior to the
    execution of this Agreement, the Company shall deliver to the Holder, a copy of the
    irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver,
    on an expedited basis, a certificate evidencing a number of Shares equal to such the First
    Tranche Principal Amount divided by the Per Share Purchase Price, registered in the name
    of such Holder.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">b)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Company and the
    Holder hereby amend and restate the definition of &quot;Securities&quot; in Section 1.1 as
    follows:</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"></td>
    <td WIDTH="93%" VALIGN="TOP"><i><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Securities</u>&quot;
    means the Shares, the Debentures and the Underlying Shares.</font></i></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><i><font face="Times New Roman"></font></i></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><i><font face="Times New Roman"></font></i></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">1</font></td>
    <td WIDTH="93%" VALIGN="TOP"><font SIZE="2"><p ALIGN="JUSTIFY"><font
    face="Times New Roman">The lowest closing price for the 10 Trading Days immediately prior
    to the date hereof.</font></font></td>
  </tr>
</table>
</center></div>

<p ALIGN="CENTER"><font face="Times New Roman"><br>
5</font></p>

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width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">c)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The
    Company and the Holder shall enter into a Registration Rights Agreement, substantially in
    the form of <u>Exhibit A</u> attached hereto.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">4.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Filing of Form 8-K</u>. Within 3 Trading Days of the date hereof,
    the Company shall issue a Current Report on Form 8-K, reasonably acceptable to the Holder
    disclosing the material terms of the transactions contemplated hereby, which shall include
    this Agreement as an attachment thereto. In addition, within 1 Trading Day of the date
    hereof, the Company shall file a prospectus supplement under Rule 424 under the Securities
    Act to registration statement number 333-141381, disclosing the terms of the transactions
    hereunder.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">5.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Conditions to
    Holder's Obligations</u>. The obligations of the Holder hereunder in connection with the
    Closing are subject to the following conditions being met:</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">a)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">the
    accuracy in all material respects on the date of the Closing of the representations and
    warranties of the Company contained herein;</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">b)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">all obligations,
    covenants and agreements of the Company required to be performed at or prior to the
    Closing shall have been performed;</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">c)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">there shall have
    been no Material Adverse Effect with respect to the Company since the date hereof; and</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">d)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">from the date hereof
    to the Closing, trading in the Common Stock shall not have been suspended by the
    Commission (except for any suspension of trading of limited duration agreed to by the
    Company, which suspension shall be terminated prior to the Closing), and, at any time
    prior to the Closing, trading in securities generally as reported by Bloomberg Financial
    Markets shall not have been suspended or limited, or minimum prices shall not have been
    established on securities whose trades are reported by such service, or on any Trading
    Market, nor shall a banking moratorium have been declared either by the United States or
    New York State authorities nor shall there have occurred any material outbreak or
    escalation of hostilities or other national or international calamity of such magnitude in
    its effect on, or any material adverse change in, any financial market which, in each
    case, in the reasonable judgment of the Holder, makes it impracticable or inadvisable to
    consummate the transactions hereunder.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">6</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">6.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Representations and Warranties of the Company</u>. The Company
    hereby makes to the Holder the following representations and warranties as of the date
    hereof:</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">a)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Authorization; Enforcement</u>. The Company has the requisite
    corporate power and authority to enter into and to consummate the transactions
    contemplated by this Agreement and otherwise to carry out its obligations hereunder and
    thereunder. The execution and delivery of this Agreement by the Company and the
    consummation by the Company of the transactions contemplated hereby have been duly
    authorized by all necessary action on the part of the Company and no further action is
    required by the Company, its board of directors or its stockholders in connection
    therewith other than in connection with the Required Approvals. This Agreement has been
    duly executed by the Company and, when delivered in accordance with the terms hereof, will
    constitute the valid and binding obligation of the Company enforceable against the Company
    in accordance with its terms except (i) as limited by general equitable principles and
    applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general
    application affecting enforcement of creditors' rights generally, (ii) as limited by laws
    relating to the availability of specific performance, injunctive relief or other equitable
    remedies and (iii) insofar as indemnification and contribution provisions may be limited
    by applicable law.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">b)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>No Conflicts</u>.
    The execution, delivery and performance of this Agreement by the Company and the
    consummation by the Company of the transactions contemplated hereby do not and will not:
    (i) conflict with or violate any provision of the Company's certificate or articles of
    incorporation, bylaws or other organizational or charter documents; or (ii) conflict with,
    or constitute a default (or an event that, with notice or lapse of time or both, would
    become a default) under, result in the creation of any Lien upon any of the properties or
    assets of the Company in connection with, or give to others any rights of termination,
    amendment, acceleration or cancellation (with or without notice, lapse of time or both)
    of, any material agreement, credit facility, debt or other material instrument (evidencing
    Company debt or otherwise) or other material understanding to which the Company is a party
    or by which any property or asset of the Company is bound or affected; or (iii) subject to
    the Required Approvals, conflict with or result in a violation of any law, rule,
    regulation, order, judgment, injunction, decree or other restriction of any court or
    governmental authority to which the Company is subject (including federal and state
    securities laws and regulations), or by which any property or asset of the Company is
    bound or affected, except, in the case of each of clauses (ii) and (iii), as such could
    not have or reasonably be expected to result in a Material Adverse Effect.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">7</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">c)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Capitalization</u>. The Company is a duly organized and validly
    existing corporation in good standing under the laws of the State of Texas. The
    capitalization of the Company is as set forth on <u>Schedule 6(c)</u>. Immediately
    following the issuance of the Shares hereunder, there will be issued and outstanding
    _________ shares of Common Stock, all of which such issued and outstanding shares will be
    validly issued, fully paid and nonassessable. The Shares, when issued in accordance with
    the terms of this Agreement, will be duly authorized, validly issued, fully paid and
    nonassessable. Except as described in this Section or as set forth on the Disclosure
    Schedules to the Purchase Agreement or <u>Schedule 6(c)</u> attached hereto, there are no
    issued or outstanding securities and no issued or outstanding options, warrants or other
    rights, or commitments or agreements of any kind, contingent or otherwise, to purchase or
    otherwise acquire shares of Common Stock or any issued or outstanding securities of any
    nature convertible into shares of Common Stock. There is no proxy or any other agreement,
    arrangement or understanding of any kind authorized, effective or outstanding which
    restricts, limits or otherwise affects the right to vote any shares of Common Stock.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">d)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Affirmation of
    Prior Representations and Warranties</u>. The Company hereby represents and warrants to
    each Holder that the Company's representations and warranties listed in Section 3.1 of the
    Purchase Agreement are true and correct as of the date hereof.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">7.</font></td>
    <td WIDTH="93%" VALIGN="TOP"><u><p ALIGN="JUSTIFY"><font face="Times New Roman">Representation
    and Warranty of the Holder</u>. The Holder hereby makes the representation and warranty
    set forth below to the Company that as of the date of its execution of this Agreement, the
    Holder represents and warrants that (a) the execution and delivery of this Agreement by it
    and the consummation by it of the transactions contemplated hereby have been duly
    authorized by all necessary action on its behalf and (b) this Agreement has been duly
    executed and delivered by such Holder and constitutes the valid and binding obligation of
    such Holder, enforceable against it in accordance with its terms except (i) as limited by
    general equitable principles and applicable bankruptcy, insolvency, reorganization,
    moratorium and other laws of general application affecting enforcement of creditors'
    rights generally, (ii) as limited by laws relating to the availability of specific
    performance, injunctive relief or other equitable remedies and (iii) insofar as
    indemnification and contribution provisions may be limited by applicable law.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">8</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">8.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Notices</u>. Any and all notices or other communications or
    deliveries required or permitted to be provided hereunder shall be made in accordance with
    the provisions of the Purchase Agreement.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">9.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Effect on
    Transaction Documents</u>.<b> </b>Except as expressly set forth above, all of the terms
    and conditions of the Transaction Documents shall continue in full force and effect after
    the execution of this Agreement and shall not be in any way changed, modified or
    superseded by the terms set forth herein, including, but not limited to, any other
    obligations the Company may have to the Holders under the Transaction Documents.
    Notwithstanding the foregoing, this Agreement shall be deemed for all purposes as an
    amendment to any Transaction Document as required to serve the purposes hereof, and in the
    event of any conflict between the terms and provisions of the Debentures or any other
    Transaction Document, on the one hand, and the terms and provisions of this Agreement, on
    the other hand, the terms and provisions of this Agreement shall prevail.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">10.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Execution and
    Counterparts</u>. This Agreement may be executed in two or more counterparts, all of which
    when taken together shall be considered one and the same agreement and shall become
    effective when counterparts have been signed by each party and delivered to the other
    party, it being understood that both parties need not sign the same counterpart. In the
    event that any signature is delivered by facsimile transmission or by e-mail delivery of a
    &quot;.pdf&quot; format data file, such signature shall create a valid and binding
    obligation of the party executing (or on whose behalf such signature is executed) with the
    same force and effect as if such facsimile or &quot;.pdf&quot; signature page were an
    original thereof.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">11.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Severability</u>.
    If any term, provision, covenant or restriction of this Agreement is held by a court of
    competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the
    terms, provisions, covenants and restrictions set forth herein shall remain in full force
    and effect and shall in no way be affected, impaired or invalidated, and the parties
    hereto shall use their commercially reasonable efforts to find and employ an alternative
    means to achieve the same or substantially the same result as that contemplated by such
    term, provision, covenant or restriction. It is hereby stipulated and declared to be the
    intention of the parties that they would have executed the remaining terms, provisions,
    covenants and restrictions without including any of such that may be hereafter declared
    invalid, illegal, void or unenforceable.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">12.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Governing Law</u>.
    All questions concerning the construction, validity, enforcement and interpretation of
    this Agreement shall be determined pursuant to the Governing Law provision of the Purchase
    Agreement.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">9</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">13.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Entire Agreement</u>. The Agreement, together with the exhibits and
    schedules thereto, contain the entire understanding of the parties with respect to the
    subject matter hereof and supersede all prior agreements and understandings, oral or
    written, with respect to such matters, which the parties acknowledge have been merged into
    such documents, exhibits and schedules.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">14.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Construction</u>.
    The headings herein are for convenience only, do not constitute a part of this Agreement
    and shall not be deemed to limit or affect any of the provisions hereof. The language used
    in this Agreement will be deemed to be the language chosen by the parties to express their
    mutual intent, and no rules of strict construction will be applied against any party.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">15.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Termination</u>.
    This Agreement may be terminated by any Holder, as to such Holder's obligations hereunder,
    by written notice to the other parties, if the Closing has not been consummated on or
    before January 4, 2008.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<br><br>
<i><b>

<p ALIGN="CENTER"><font face="Times New Roman">REMAINDER INTENTIONALLY LEFT BLANK</font></p>

<br><br>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">10</font></p>
</b></i>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>

<p ALIGN="CENTER"> </p>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="TOP" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">IN WITNESS WHEREOF, the
    parties hereto have caused this Agreement to be duly executed by their respective
    authorized signatories as of the date first indicated above.</font></td>
  </tr>
  <tr>
    <td VALIGN="TOP" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="50%" VALIGN="TOP" height="15"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">CHINA
    MEDIA GROUP CORPORATION</font></b></td>
    <td WIDTH="50%" VALIGN="TOP" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="50%" VALIGN="TOP" height="15"></td>
    <td WIDTH="50%" VALIGN="TOP" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="50%" VALIGN="TOP" height="15"></td>
    <td WIDTH="50%" VALIGN="TOP" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="50%" VALIGN="TOP" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">By:
    ___________________________</font></td>
    <td WIDTH="50%" VALIGN="TOP" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="50%" VALIGN="TOP" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Name: Con
    Unerkov</font></td>
    <td WIDTH="50%" VALIGN="TOP" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="50%" VALIGN="TOP" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Title:
    President</font></td>
    <td WIDTH="50%" VALIGN="TOP" height="15"></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">11</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="TOP" COLSPAN="2"><p ALIGN="CENTER"><font face="Times New Roman">[SIGNATURE
    PAGE OF HOLDER TO chmd SECOND AMENDMENT Agreement]</font></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"></td>
    <td WIDTH="54%" VALIGN="middle" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Name of Holder:</font></td>
    <td WIDTH="54%" VALIGN="middle" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"></td>
    <td WIDTH="54%" VALIGN="middle" height="15"><p ALIGN="CENTER"><font face="Times New Roman">-------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"></td>
    <td WIDTH="54%" VALIGN="middle" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"><i><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Signature of Authorized Signatory of Holder</i>:</font></td>
    <td WIDTH="54%" VALIGN="middle" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"></td>
    <td WIDTH="54%" VALIGN="middle" height="15"><p ALIGN="CENTER"><font face="Times New Roman">-------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"></td>
    <td WIDTH="54%" VALIGN="middle" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Name of Authorized Signatory:</font></td>
    <td WIDTH="54%" VALIGN="middle" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"></td>
    <td WIDTH="54%" VALIGN="middle" height="15"><p ALIGN="CENTER"><font face="Times New Roman">-------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"></td>
    <td WIDTH="54%" VALIGN="middle" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Title of Authorized Signatory:</font></td>
    <td WIDTH="54%" VALIGN="middle" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="middle" height="15"></td>
    <td WIDTH="54%" VALIGN="middle" height="15"><p ALIGN="CENTER"><font face="Times New Roman">-------------------------------------------------</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">12</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">
<b>

<br><br>
</b><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="50%" VALIGN="TOP"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">EXHIBIT A</font></b></td>
    <td WIDTH="50%" VALIGN="TOP"></td>
  </tr>
</table>
</center></div>

<p align="center"><b><font face="Times New Roman">REGISTRATION RIGHTS AGREEMENT</font></b></p>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">This
    Registration Rights Agreement (this &quot;<u>Agreement</u>&quot;) is made and entered into
    as of January ___, 2008, among China Media Group Corporation, a Texas (the &quot;<u>Company</u>&quot;)
    and each of the several purchasers signatory hereto (each such purchaser, a &quot;<u>Purchaser</u>&quot;
    and, collectively, the &quot;<u>Purchasers</u>&quot;).</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">This Agreement is made pursuant
    to the Securities Purchase Agreement, dated as of December 12, 2006, between the Company
    and each Purchaser (the &quot;<u>Purchase Agreement</u>&quot;) and the Second Amendment
    Agreement, dated as of the date hereof, between the Company and each Purchaser (the &quot;<u>Amendment
    Agreement</u>&quot;).</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Company and each Purchaser
    hereby agrees as follows:</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">1.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Definitions</font></u></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><font face="Times New Roman"></font></u></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Capitalized
    terms used and not otherwise defined herein that are defined in the Purchase Agreement or
    the Amendment Agreement shall have the meanings given such terms in the Purchase Agreement
    or the Amendment Agreement.</b> As used in this Agreement, the following terms shall have
    the following meanings:</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Advice</u>&quot;
    shall have the meaning set forth in Section 6(d).</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Effectiveness
    Date</u>&quot; means, with respect to the initial Registration Statement required to be
    filed hereunder, the 60<sup>th</sup> calendar day following the date hereof and with
    respect to any additional Registration Statements which may be required pursuant to
    Section 3(c), the 60<sup>th</sup> calendar day following the date on which an additional
    Registration Statement is required to be filed hereunder; <u>provided</u>, <u>however</u>,
    that in the event the Company is notified by the Commission that one or more of the above
    Registration Statements will not be reviewed or is no longer subject to further review and
    comments, the Effectiveness Date as to such Registration Statement shall be the fifth
    Trading Day following the date on which the Company is so notified if such date precedes
    the dates required above.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Effectiveness
    Period</u>&quot; shall have the meaning set forth in Section 2(a).</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">13</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Event</u>&quot;
    shall have the meaning set forth in Section 2(b).</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Event Date</u>&quot;
    shall have the meaning set forth in Section 2(b).</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Filing Date</u>&quot;
    means, with respect to the initial Registration Statement required hereunder, the 15<sup>th</sup>
    calendar day following the date hereof and, with respect to any additional Registration
    Statements which may be required pursuant to Section 3(c), the earliest practical date on
    which the Company is permitted by SEC Guidance to file such additional Registration
    Statement related to the Registrable Securities.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Holder</u>&quot;
    or &quot;<u>Holders</u>&quot; means the holder or holders, as the case may be, from time
    to time of Registrable Securities.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Indemnified
    Party</u>&quot; shall have the meaning set forth in Section 5(c).</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Indemnifying
    Party</u>&quot; shall have the meaning set forth in Section 5(c).</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Losses</u>&quot;
    shall have the meaning set forth in Section 5(a).</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Plan of
    Distribution</u>&quot; shall have the meaning set forth in Section 2(a).</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Prospectus</u>&quot;
    means the prospectus included in a Registration Statement (including, without limitation,
    a prospectus that includes any information previously omitted from a prospectus filed as
    part of an effective registration statement in reliance upon Rule 430A promulgated by the
    Commission pursuant to the Securities Act), as amended or supplemented by any prospectus
    supplement, with respect to the terms of the offering of any portion of the Registrable
    Securities covered by a Registration Statement, and all other amendments and supplements
    to the Prospectus, including post-effective amendments, and all material incorporated by
    reference or deemed to be incorporated by reference in such Prospectus.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Registrable
    Securities</u>&quot; means (i) all Shares and (ii) any securities issued or issuable upon
    any stock split, dividend or other distribution, recapitalization or similar event with
    respect to the foregoing.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">14</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Registration
    Statement</u>&quot; means the registration statement required to be filed hereunder and
    any additional registration statements contemplated by Section 3(c), including (in each
    case) the Prospectus, amendments and supplements to such registration statement or
    Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all
    material incorporated by reference or deemed to be incorporated by reference in such
    registration statement.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Rule 415</u>&quot;
    means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule
    may be amended from time to time, or any similar rule or regulation hereafter adopted by
    the Commission having substantially the same purpose and effect as such Rule.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Rule 424</u>&quot;
    means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule
    may be amended from time to time, or any similar rule or regulation hereafter adopted by
    the Commission having substantially the same purpose and effect as such Rule.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">&quot;<u>Selling
    Shareholder Questionnaire</u>&quot; shall have the meaning set forth in Section 3(a).</font></td>
  </tr>
</table>
</center></div>

<blockquote>
  <blockquote>
    <br><br>
  </blockquote>
</blockquote>

<p ALIGN="CENTER"><font face="Times New Roman">15</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">2.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Shelf Registration</font></u></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><font face="Times New Roman"></font></u></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">a)</font></td>
    <td WIDTH="85%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">On or prior
    to each Filing Date, the Company shall prepare and file with the Commission a Registration
    Statement covering the resale of all or such maximum portion of the Registrable Securities
    on such Filing Date for an offering to be made on a continuous basis pursuant to Rule 415.
    The Registration Statement shall be on Form S-3 (except if the Company is not then
    eligible to register for resale the Registrable Securities on Form S-3, in which case such
    registration shall be on another appropriate form in accordance herewith) and shall
    contain (unless otherwise directed by at least an 85% majority in interest of the Holders)
    substantially the &quot;<u>Plan of Distribution</u>&quot; attached hereto as <u>Annex A</u>.
    Subject to the terms of this Agreement, the Company shall use its commercially reasonable
    efforts to cause a Registration Statement to be declared effective under the Securities
    Act as promptly as possible after the filing thereof, but in any event prior to the
    applicable Effectiveness Date, and shall use its commercially reasonable efforts to keep
    such Registration Statement continuously effective under the Securities Act until all
    Registrable Securities covered by such Registration Statement have been sold, or may be
    sold without volume restrictions pursuant to Rule 144(k), as determined by the counsel to
    the Company pursuant to a written opinion letter to such effect, addressed and acceptable
    to the Transfer Agent and the affected Holders (the &quot;<u>Effectiveness Period</u>&quot;).
    The Company shall telephonically request effectiveness of a Registration Statement as of
    5:00 p.m. New York City time on a Trading Day. The Company shall immediately notify the
    Holders via facsimile or by e-mail of the effectiveness of a Registration Statement on the
    same Trading Day that the Company telephonically confirms effectiveness with the
    Commission, which shall be the date requested for effectiveness of such Registration
    Statement. The Company shall, by 9:30 a.m. New York City time on the Trading Day after the
    effective date of such Registration Statement, file a final Prospectus with the Commission
    as required by Rule 424. Failure to so notify the Holder within 1 Trading Day of such
    notification of effectiveness or failure to file a final Prospectus as foresaid shall be
    deemed an Event under Section 2(b).</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">16</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">b)</font></td>
    <td WIDTH="85%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">If: (i) a
    Registration Statement is not filed on or prior to its Filing Date (if the Company files a
    Registration Statement without affording the Holders the opportunity to review and comment
    on the same as required by Section 3(a) herein, the Company shall be deemed to have not
    satisfied this clause (i)), or (ii) the Company fails to file with the Commission a
    request for acceleration of a Registration Statement in accordance with Rule 461
    promulgated by the Commission pursuant to the Securities Act, within five Trading Days of
    the date that the Company is notified (orally or in writing, whichever is earlier) by the
    Commission that such Registration Statement will not be &quot;reviewed&quot; or will not
    be subject to further review, or (iii) prior to the effective date of a Registration
    Statement, the Company fails to file a pre-effective amendment and otherwise respond in
    writing to comments made by the Commission in respect of such Registration Statement
    within 10 calendar days after the receipt of comments by or notice from the Commission
    that such amendment is required in order for such Registration Statement to be declared
    effective, or (iv) a Registration Statement filed or required to be filed hereunder is not
    declared effective by the Commission by its Effectiveness Date, or (v) after the
    Effectiveness Date, a Registration Statement ceases for any reason to remain continuously
    effective as to all Registrable Securities for which it is required to be effective, or
    the Holders are otherwise not permitted to utilize the Prospectus therein to resell such
    Registrable Securities, for more than 10 consecutive calendar days or more than an
    aggregate of 15 calendar days during any 12-month period (which need not be consecutive
    calendar days) (any such failure or breach being referred to as an &quot;<u>Event</u>&quot;,
    and for purposes of clause (i) or (iv) the date on which such Event occurs, or for
    purposes of clause (ii) the date on which such five Trading Day period is exceeded, or for
    purposes of clause (iii) the date which such 10 calendar day period is exceeded, or for
    purposes of clause (v) the date on which such 10 or 15 calendar day period, as applicable,
    is exceeded being referred to as &quot;<u>Event Date</u>&quot;), then, in addition to any
    other rights the Holders may have hereunder or under applicable law, on each such Event
    Date and on each monthly anniversary of each such Event Date (if the applicable Event
    shall not have been cured by such date) until the applicable Event is cured, the Company
    shall pay to each Holder an amount in cash, as partial liquidated damages and not as a
    penalty, equal to 1.5% of the aggregate purchase price paid by such Holder pursuant to the
    Amendment Agreement for any unregistered Registrable Securities then held by such Holder.
    The parties agree that</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">17</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">(1)
    in no event shall the Company be liable for liquidated damages under this Agreement in
    excess of 1.5% of the aggregate First Tranche Principal Amount in any 30-day period and
    (2) the maximum aggregate liquidated damages payable to a Holder under this Agreement
    shall be 24% of the aggregate First Tranche Principal Amount paid by such Holder pursuant
    to the Amendment Agreement. If the Company fails to pay any partial liquidated damages
    pursuant to this Section in full within seven days after the date payable, the Company
    will pay interest thereon at a rate of 18% per annum (or such lesser maximum amount that
    is permitted to be paid by applicable law) to the Holder, accruing daily from the date
    such partial liquidated damages are due until such amounts, plus all such interest
    thereon, are paid in full. The partial liquidated damages pursuant to the terms hereof
    shall apply on a daily pro rata basis for any portion of a month prior to the cure of an
    Event.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">3.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Registration Procedures</u>.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">In connection with
    the Company's registration obligations hereunder, the Company shall:</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">a)</font></td>
    <td WIDTH="85%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Not less than
    five (5) Trading Days prior to the filing of each Registration Statement and not less than
    one (1) Trading Day prior to the filing of any related Prospectus or any amendment or
    supplement thereto (including any document that would be incorporated or deemed to be
    incorporated therein by reference), the Company shall (i) furnish to each Holder copies of
    all such documents proposed to be filed, which documents (other than those incorporated or
    deemed to be incorporated by reference) will be subject to the review of such Holders, and
    (ii) cause its officers and directors, counsel and independent certified public
    accountants to respond to such inquiries as shall be necessary, in the reasonable opinion
    of respective counsel to each Holder, to conduct a reasonable investigation within the
    meaning of the Securities Act. The Company shall not file a Registration Statement or any
    such Prospectus or any amendments or supplements thereto to which the Holders of a
    majority of the Registrable Securities shall reasonably object in good faith, provided
    that, the Company is notified of such objection in writing no later than five (5) Trading
    Days after the Holders have been so furnished copies of a Registration Statement or one
    (1) Trading Day after the Holders have been so furnished copies of any related Prospectus
    or amendments or supplements thereto and provided that such failure to file shall not
    constitute a default under any of the Transaction Documents provided that the Company use
    commercially reasonable effort to address such objections promptly. Each Holder agrees to
    furnish to the Company a completed questionnaire in the form attached to this Agreement as
    <u>Annex B</u> (a &quot;<u>Selling Shareholder Questionnaire</u>&quot;) not less than five
    Trading Days prior to the Filing Date or by the end of the fourth (4<sup>th</sup>) Trading
    Day following the date on which such Holder receives draft materials in accordance with
    this Section.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">18</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">b)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">(i)
    Prepare and file with the Commission such amendments, including post-effective amendments,
    to a Registration Statement and the Prospectus used in connection therewith as may be
    necessary to keep a Registration Statement continuously effective as to the applicable
    Registrable Securities for the Effectiveness Period and prepare and file with the
    Commission such additional Registration Statements in order to register for resale under
    the Securities Act all of the Registrable Securities; (ii) cause the related Prospectus to
    be amended or supplemented by any required Prospectus supplement (subject to the terms of
    this Agreement), and, as so supplemented or amended, to be filed pursuant to Rule 424;
    (iii) respond as promptly as reasonably possible to any comments received from the
    Commission with respect to a Registration Statement or any amendment thereto and provide
    as promptly as reasonably possible to the Holders true and complete copies of all
    correspondence from and to the Commission relating to a Registration Statement (provided
    that, the Company may excise any information contained therein which would constitute
    material non-public information as to any Holder which has not executed a confidentiality
    agreement with the Company); and (iv) comply in all material respects with the provisions
    of the Securities Act and the Exchange Act with respect to the disposition of all
    Registrable Securities covered by a Registration Statement during the applicable period in
    accordance (subject to the terms of this Agreement) with the intended methods of
    disposition by the Holders thereof set forth in such Registration Statement as so amended
    or in such Prospectus as so supplemented.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">c)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">If during the
    Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the
    number of shares of Common Stock then registered in a Registration Statement, then the
    Company shall file as soon as reasonably practicable, but in any case prior to the
    applicable Filing Date, an additional Registration Statement covering the resale by the
    Holders of not less than the number of such Registrable Securities.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">19</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">d)</font></td>
    <td WIDTH="85%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Notify the
    Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses
    (iii) through (vi) hereof, be accompanied by an instruction to suspend the use of the
    Prospectus until the requisite changes have been made) as promptly as reasonably possible
    (and, in the case of (i)(A) below, not less than one Trading Day prior to such filing) and
    (if requested by any such Person) confirm such notice in writing no later than one Trading
    Day following the day (i)(A) when a Prospectus or any Prospectus supplement or
    post-effective amendment to a Registration Statement is proposed to be filed; (B) when the
    Commission notifies the Company whether there will be a &quot;review&quot; of such
    Registration Statement and whenever the Commission comments in writing on such
    Registration Statement; and (C) with respect to a Registration Statement or any
    post-effective amendment, when the same has become effective; (ii) of any request by the
    Commission or any other federal or state governmental authority for amendments or
    supplements to a Registration Statement or Prospectus or for additional information; (iii)
    of the issuance by the Commission or any other federal or state governmental authority of
    any stop order suspending the effectiveness of a Registration Statement covering any or
    all of the Registrable Securities or the initiation of any Proceedings for that purpose;
    (iv) of the receipt by the Company of any notification with respect to the suspension of
    the qualification or exemption from qualification of any of the Registrable Securities for
    sale in any jurisdiction, or the initiation or threatening of any Proceeding for such
    purpose; (v) of the occurrence of any event or passage of time that makes the financial
    statements included in a Registration Statement ineligible for inclusion therein or any
    statement made in a Registration Statement or Prospectus or any document incorporated or
    deemed to be incorporated therein by reference untrue in any material respect or that
    requires any revisions to a Registration Statement, Prospectus or other documents so that,
    in the case of a Registration Statement or the Prospectus, as the case may be, it will not
    contain 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, in light of the
    circumstances under which they were made, not misleading; and (vi) of the occurrence or
    existence of any pending corporate development with respect to the Company that the
    Company believes may be material and that, in the determination of the Company, makes it
    not in the best interest of the Company to allow continued availability of a Registration
    Statement or Prospectus, provided that, any and all of such information shall remain
    confidential to each Holder until such information otherwise becomes public, unless
    disclosure by a Holder is required by law; <u>provided</u>, <u>further</u>, that
    notwithstanding each Holder's agreement to keep such information confidential, each such
    Holder makes no acknowledgement that any such information is material, non-public
    information.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">20</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">e)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Use
    its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any
    order suspending the effectiveness of a Registration Statement, or (ii) any suspension of
    the qualification (or exemption from qualification) of any of the Registrable Securities
    for sale in any jurisdiction, at the earliest practicable moment.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">f)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Furnish to each
    Holder, without charge, at least one conformed copy of each such Registration Statement
    and each amendment thereto, including financial statements and schedules, all documents
    incorporated or deemed to be incorporated therein by reference to the extent requested by
    such Person, and all exhibits to the extent requested by such Person (including those
    previously furnished or incorporated by reference) promptly after the filing of such
    documents with the Commission; provided, that any such item which is available on the
    EDGAR system need not be furnished in physical form.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">g)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Subject to the terms
    of this Agreement, the Company hereby consents to the use of such Prospectus and each
    amendment or supplement thereto by each of the selling Holders in connection with the
    offering and sale of the Registrable Securities covered by such Prospectus and any
    amendment or supplement thereto, except after the giving of any notice pursuant to Section
    3(d).</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">h)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Company shall
    cooperate with any broker-dealer through which a Holder proposes to resell its Registrable
    Securities in effecting a filing with the FINRA Corporate Financing Department pursuant to
    NASD Rule 2710, as requested by any such Holder, and the Company shall pay the filing fee
    required by such filing within two (2) Business Days of request therefor.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">i)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Prior to any resale
    of Registrable Securities by a Holder, use its commercially reasonable efforts to register
    or qualify or cooperate with the selling Holders in connection with the registration or
    qualification (or exemption from the Registration or qualification) of such Registrable
    Securities for the resale by the Holder under the securities or Blue Sky laws of such
    jurisdictions within the United States as any Holder reasonably requests in writing, to
    keep each registration or qualification (or exemption therefrom) effective during the
    Effectiveness Period and to do any and all other acts or things reasonably necessary to
    enable the disposition in such jurisdictions of the Registrable Securities covered by each
    Registration Statement; provided, that, the Company shall not be required to qualify
    generally to do business in any jurisdiction where it is not then so qualified, subject
    the Company to any material tax in any such jurisdiction where it is not then so subject
    or file a general consent to service of process in any such jurisdiction.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">21</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">j)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">If
    requested by a Holder, cooperate with such Holders to facilitate the timely preparation
    and delivery of certificates representing Registrable Securities to be delivered to a
    transferee pursuant to a Registration Statement, which certificates shall be free, to the
    extent permitted by the Amendment Agreement, of all restrictive legends, and to enable
    such Registrable Securities to be in such denominations and registered in such names as
    any such Holder may request.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">k)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Upon the occurrence
    of any event contemplated by Section 3(d), as promptly as reasonably possible under the
    circumstances taking into account the Company's good faith assessment of any adverse
    consequences to the Company and its stockholders of the premature disclosure of such
    event, prepare a supplement or amendment, including a post-effective amendment, to a
    Registration Statement or a supplement to the related Prospectus or any document
    incorporated or deemed to be incorporated therein by reference, and file any other
    required document so that, as thereafter delivered, neither a Registration Statement nor
    such Prospectus will contain an untrue statement of a material fact or omit to state a
    material fact required to be stated therein or necessary to make the statements therein,
    in light of the circumstances under which they were made, not misleading. If the Company
    notifies the Holders in accordance with clauses (iii) through (vi) of Section 3(d) above
    to suspend the use of any Prospectus until the requisite changes to such Prospectus have
    been made, then the Holders shall suspend use of such Prospectus. The Company will use its
    best efforts to ensure that the use of the Prospectus may be resumed as promptly as is
    practicable. The Company shall be entitled to exercise its right under this Section 3(k)
    to suspend the availability of a Registration Statement and Prospectus, subject to the
    payment of partial liquidated damages otherwise required pursuant to Section 2(b), for a
    period not to exceed 60 calendar days (which need not be consecutive days) in any 12 month
    period<a NAME="_DV_M81"></a>.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">l)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Comply with all
    applicable rules and regulations of the Commission.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">22</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">m)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The
    Company may require each selling Holder to furnish to the Company a certified statement as
    to the number of shares of Common Stock beneficially owned by such Holder and, if required
    by the Commission, the natural persons thereof that have voting and dispositive control
    over the shares. During any periods that the Company is unable to meet its obligations
    hereunder with respect to the registration of the Registrable Securities solely because
    any Holder fails to furnish such information within three Trading Days of the Company's
    request, any liquidated damages that are accruing at such time as to such Holder only
    shall be tolled and any Event that may otherwise occur solely because of such delay shall
    be suspended as to such Holder only, until such information is delivered to the Company.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">4.</font></td>
    <td WIDTH="93%" VALIGN="TOP"><u><p ALIGN="JUSTIFY"><font face="Times New Roman">Registration
    Expenses</u>. All fees and expenses incident to the performance of or compliance with this
    Agreement by the Company shall be borne by the Company whether or not any Registrable
    Securities are sold pursuant to a Registration Statement. The fees and expenses referred
    to in the foregoing sentence shall include, without limitation, (i) all registration and
    filing fees (including, without limitation, fees and expenses of the Company's counsel and
    auditors) (A) with respect to filings made with the Commission, (B) with respect to
    filings required to be made with any Trading Market on which the Common Stock is then
    listed for trading, (C) in compliance with applicable state securities or Blue Sky laws
    reasonably agreed to by the Company in writing (including, without limitation, fees and
    disbursements of counsel for the Company in connection with Blue Sky qualifications or
    exemptions of the Registrable Securities) and (D) if not previously paid by the Company in
    connection with an Issuer Filing, with respect to any filing that may be required to be
    made by any broker through which a Holder intends to make sales of Registrable Securities
    with the FINRA pursuant to NASD Rule 2710, so long as the broker is receiving no more than
    a customary brokerage commission in connection with such sale, (ii) printing expenses
    (including, without limitation, expenses of printing certificates for Registrable
    Securities), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements
    of counsel for the Company, (v) Securities Act liability insurance, if the Company so
    desires such insurance, and (vi) fees and expenses of all other Persons retained by the
    Company in connection with the consummation of the transactions contemplated by this
    Agreement. In addition, the Company shall be responsible for all of its internal expenses
    incurred in connection with the consummation of the transactions contemplated by this
    Agreement (including, without limitation, all salaries and expenses of its officers and
    employees performing legal or accounting duties), the expense of any annual audit and the
    fees and expenses incurred in connection with the listing of the Registrable Securities on
    any securities exchange as required hereunder. In no event shall the Company be
    responsible for any broker or similar commissions of any Holder or, except to the extent
    provided for in the Transaction Documents, any legal fees or other costs of the Holders.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">23</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">5.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Indemnification</u>.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">a)</font></td>
    <td WIDTH="85%" VALIGN="TOP"><u><p ALIGN="JUSTIFY"><font face="Times New Roman">Indemnification
    by the Company</u>. The Company shall, notwithstanding any termination of this Agreement,
    indemnify and hold harmless each Holder, the officers, directors, members, partners,
    agents, brokers (including brokers who offer and sell Registrable Securities as principal
    as a result of a pledge or any failure to perform under a margin call of Common Stock),
    investment advisors and employees (and any other Persons with a functionally equivalent
    role of a Person holding such titles, notwithstanding a lack of such title or any other
    title) of each of them, each Person who controls any such Holder (within the meaning of
    Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers,
    directors, members, shareholders, partners, agents and employees (and any other Persons
    with a functionally equivalent role of a Person holding such titles, notwithstanding a
    lack of such title or any other title) of each such controlling Person, to the fullest
    extent permitted by applicable law, from and against any and all losses, claims, damages,
    liabilities, costs (including, without limitation, reasonable attorneys' fees) and
    expenses (collectively, &quot;Losses&quot;), as incurred, arising out of or relating to
    (1) any untrue or alleged untrue statement of a material fact contained in a Registration
    Statement, any Prospectus or any form of prospectus or in any amendment or supplement
    thereto or in any preliminary prospectus, or arising out of or relating to any omission or
    alleged omission of a material fact required to be stated therein or necessary to make the
    statements therein (in the case of any Prospectus or form of prospectus or supplement
    thereto, in light of the circumstances under which they were made) not misleading or (2)
    any violation or alleged violation by the Company of the Securities Act, the Exchange Act
    or any state securities law, or any rule or regulation thereunder, in connection with the
    performance of its obligations under this Agreement, except to the extent, but only to the
    extent, that (i) such untrue statements or omissions are based solely upon information
    regarding such Holder furnished in writing to the Company by such Holder expressly for use
    therein, or to the extent that such information relates to such Holder or such Holder's
    proposed method of distribution of Registrable Securities and was reviewed and expressly
    approved in writing by such Holder expressly for use in a Registration Statement, such
    Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being
    understood that the Holder has approved Annex A hereto for this purpose) or (ii) in the
    case of an occurrence of an event of the type specified in Section 3(d)(iii)-(vi), the use
    by such Holder of an outdated or defective Prospectus after the Company has notified such
    Holder in writing that the Prospectus is outdated or defective and prior to the receipt by
    such Holder of the Advice contemplated in Section 6(d). The Company shall notify the
    Holders promptly of the institution, threat or assertion of any Proceeding arising from or
    in connection with the transactions contemplated by this Agreement of which the Company is
    aware.</font></td>
  </tr>
</table>
</center></div>

<p ALIGN="CENTER"><font face="Times New Roman"><br>
24</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">b)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Indemnification by Holders</u>. Each Holder shall, severally and
    not jointly, indemnify and hold harmless the Company, its directors, officers, agents and
    employees, each Person who controls the Company (within the meaning of Section 15 of the
    Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents or
    employees of such controlling Persons, to the fullest extent permitted by applicable law,
    from and against all Losses, as incurred, to the extent arising out of or based solely
    upon: (x) such Holder's failure to comply with the prospectus delivery requirements of the
    Securities Act or (y) any untrue or alleged untrue statement of a material fact contained
    in any Registration Statement, any Prospectus, or any form of prospectus, or in any
    amendment or supplement thereto or in any preliminary prospectus, or arising out of or
    relating to any omission or alleged omission of a material fact required to be stated
    therein or necessary to make the statements therein not misleading (i) to the extent, but
    only to the extent, that such untrue statement or omission is contained in any information
    so furnished in writing by such Holder to the Company specifically for inclusion in such
    Registration Statement or such Prospectus or (ii) to the extent that such information
    relates to such Holder's proposed method of distribution of Registrable Securities and was
    reviewed and expressly approved in writing by such Holder expressly for use in a
    Registration Statement (it being understood that the Holder has approved Annex A hereto
    for this purpose), such Prospectus or such form of Prospectus or in any amendment or
    supplement thereto or (ii) in the case of an occurrence of an event of the type specified
    in Section 3(d)(iii)-(vi), the use by such Holder of an outdated or defective Prospectus
    after the Company has notified such Holder in writing that the Prospectus is outdated or
    defective and prior to the receipt by such Holder of the Advice contemplated in Section
    6(d). In no event shall the liability of any selling Holder hereunder be greater in amount
    than the dollar amount of the net proceeds received by such Holder upon the sale of the
    Registrable Securities giving rise to such indemnification obligation.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">c)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Conduct of
    Indemnification Proceedings</u>. If any Proceeding shall be brought or asserted against
    any Person entitled to indemnity hereunder (an &quot;<u>Indemnified Party</u>&quot;), such
    Indemnified Party shall promptly notify the Person from whom indemnity is sought (the
    &quot;<u>Indemnifying Party</u>&quot;) in writing, and the Indemnifying Party shall have
    the right to assume the defense thereof, including the employment of counsel reasonably
    satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in
    connection with defense thereof; provided, that, the failure of any Indemnified Party to
    give such notice shall not relieve the Indemnifying Party of its obligations or
    liabilities pursuant to this Agreement, except (and only) to the extent that it shall be
    finally determined by a court of competent jurisdiction (which determination is not
    subject to appeal or further review) that such failure shall have prejudiced the
    Indemnifying Party.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">25</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">An
    Indemnified Party shall have the right to employ separate counsel in any such Proceeding
    and to participate in the defense thereof, but the fees and expenses of such counsel shall
    be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party
    has agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have
    failed promptly to assume the defense of such Proceeding and to employ counsel reasonably
    satisfactory to such Indemnified Party in any such Proceeding; or (3) the named parties to
    any such Proceeding (including any impleaded parties) include both such Indemnified Party
    and the Indemnifying Party, and counsel to the Indemnified Party shall reasonably believe
    that a material conflict of interest is likely to exist if the same counsel were to
    represent such Indemnified Party and the Indemnifying Party (in which case, if such
    Indemnified Party notifies the Indemnifying Party in writing that it elects to employ
    separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall
    not have the right to assume the defense thereof and the reasonable fees and expenses of
    no more than one separate counsel shall be at the expense of the Indemnifying Party). The
    Indemnifying Party shall not be liable for any settlement of any such Proceeding effected
    without its written consent, which consent shall not be unreasonably withheld or delayed.
    No Indemnifying Party shall, without the prior written consent of the Indemnified Party,
    effect any settlement of any pending Proceeding in respect of which any Indemnified Party
    is a party, unless such settlement includes an unconditional release of such Indemnified
    Party from all liability on claims that are the subject matter of such Proceeding.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Subject to the terms
    of this Agreement, all reasonable fees and expenses of the Indemnified Party (including
    reasonable fees and expenses to the extent incurred in connection with investigating or
    preparing to defend such Proceeding in a manner not inconsistent with this Section) shall
    be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice
    thereof to the Indemnifying Party; provided, that, the Indemnified Party shall promptly
    reimburse the Indemnifying Party for that portion of such fees and expenses applicable to
    such actions for which such Indemnified Party is judicially determined not to be entitled
    to indemnification hereunder.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">26</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">d)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Contribution</u>. If the indemnification under Section 5(a) or 5(b)
    is unavailable to an Indemnified Party or insufficient to hold an Indemnified Party
    harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid
    or payable by such Indemnified Party, in such proportion as is appropriate to reflect the
    relative fault of the Indemnifying Party and Indemnified Party in connection with the
    actions, statements or omissions that resulted in such Losses as well as any other
    relevant equitable considerations. The relative fault of such Indemnifying Party and
    Indemnified Party shall be determined by reference to, among other things, whether any
    action in question, including any untrue or alleged untrue statement of a material fact or
    omission or alleged omission of a material fact, has been taken or made by, or relates to
    information supplied by, such Indemnifying Party or Indemnified Party, and the parties'
    relative intent, knowledge, access to information and opportunity to correct or prevent
    such action, statement or omission. The amount paid or payable by a party as a result of
    any Losses shall be deemed to include, subject to the limitations set forth in this
    Agreement, any reasonable attorneys' or other fees or expenses incurred by such party in
    connection with any Proceeding to the extent such party would have been indemnified for
    such fees or expenses if the indemnification provided for in this Section was available to
    such party in accordance with its terms.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The parties hereto
    agree that it would not be just and equitable if contribution pursuant to this Section
    5(d) were determined by pro rata allocation or by any other method of allocation that does
    not take into account the equitable considerations referred to in the immediately
    preceding paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall
    be required to contribute, in the aggregate, any amount in excess of the amount by which
    the net proceeds actually received by such Holder from the sale of the Registrable
    Securities subject to the Proceeding exceeds the amount of any damages that such Holder
    has otherwise been required to pay by reason of such untrue or alleged untrue statement or
    omission or alleged omission.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The indemnity and
    contribution agreements contained in this Section are in addition to any liability that
    the Indemnifying Parties may have to the Indemnified Parties.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">27</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">6.</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Miscellaneous</u>.</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">a)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Remedies</u>. In the event of a breach by the Company or by a
    Holder of any of their respective obligations under this Agreement, each Holder or the
    Company, as the case may be, in addition to being entitled to exercise all rights granted
    by law and under this Agreement, including recovery of damages, shall be entitled to
    specific performance of its rights under this Agreement. The Company and each Holder agree
    that monetary damages would not provide adequate compensation for any losses incurred by
    reason of a breach by it of any of the provisions of this Agreement and hereby further
    agrees that, in the event of any action for specific performance in respect of such
    breach, it shall not assert or shall waive the defense that a remedy at law would be
    adequate.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">b)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>No Piggyback on
    Registrations; Prohibition on Filing Other Registration Statements</u>. Except as set
    forth on <u>Schedule 6(b)</u> attached hereto, neither the Company nor any of its security
    holders (other than the Holders in such capacity pursuant hereto) may include securities
    of the Company in any Registration Statements other than the Registrable Securities. The
    Company shall not file any other registration statements until all Registrable Securities
    are registered pursuant to a Registration Statement that is declared effective by the
    Commission, provided that this Section 6(b) shall not prohibit the Company from filing
    amendments to registration statements filed prior to the date of this Agreement.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">c)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Compliance</u>.
    Each Holder covenants and agrees that it will comply with the prospectus delivery
    requirements of the Securities Act as applicable to it in connection with sales of
    Registrable Securities pursuant to a Registration Statement.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">d)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Discontinued
    Disposition</u>. By its acquisition of Registrable Securities, each Holder agrees that,
    upon receipt of a notice from the Company of the occurrence of any event of the kind
    described in Section 3(d)(iii) through (vi), such Holder will forthwith discontinue
    disposition of such Registrable Securities under a Registration Statement until it is
    advised in writing (the &quot;<u>Advice</u>&quot;) by the Company that the use of the
    applicable Prospectus (as it may have been supplemented or amended) may be resumed. The
    Company will use its best efforts to ensure that the use of the Prospectus may be resumed
    as promptly as is practicable. The Company agrees and acknowledges that any periods during
    which the Holder is required to discontinue the disposition of the Registrable Securities
    hereunder shall be subject to the provisions of Section 2(b).</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">28</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">e)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Piggy-Back Registrations</u>. If, at any time during the
    Effectiveness Period, there is not an effective Registration Statement covering all of the
    Registrable Securities and the Company shall determine to prepare and file with the
    Commission a registration statement relating to an offering for its own account or the
    account of others under the Securities Act of any of its equity securities, other than on
    Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then
    equivalents relating to equity securities to be issued solely in connection with any
    acquisition of any entity or business or equity securities issuable in connection with the
    Company's stock option or other employee benefit plans, then the Company shall send to
    each Holder a written notice of such determination and, if within fifteen days after the
    date of such notice, any such Holder shall so request in writing, the Company shall
    include in such registration statement all or any part of such Registrable Securities such
    Holder requests to be registered; <u>provided</u>, <u>however</u>, that the Company shall
    not be required to register any Registrable Securities pursuant to this Section 6(e) that
    are eligible for resale pursuant to Rule 144(k) promulgated by the Commission pursuant to
    the Securities Act or that are the subject of a then effective Registration Statement.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">f)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Amendments and
    Waivers</u>. The provisions of this Agreement, including the provisions of this sentence,
    may not be amended, modified or supplemented, and waivers or consents to departures from
    the provisions hereof may not be given, unless the same shall be in writing and signed by
    the Company and each Holder of the then outstanding Registrable Securities (including, for
    this purpose any Registrable Securities issuable upon exercise or conversion of any
    Security). If a Registration Statement does not register all of the Registrable Securities
    pursuant to a waiver or amendment done in compliance with the previous sentence, then the
    number of Registrable Securities to be registered for each Holder shall be reduced pro
    rata among all Holders and each Holder shall have the right to designate which of its
    Registrable Securities shall be omitted from such Registration Statement. Notwithstanding
    the foregoing, a waiver or consent to depart from the provisions hereof with respect to a
    matter that relates exclusively to the rights of a Holder or some Holders and that does
    not directly or indirectly affect the rights of other Holders may be given by such Holder
    or Holders of all of the Registrable Securities to which such waiver or consent relates; <u>provided</u>,
    <u>however</u>, that the provisions of this sentence may not be amended, modified, or
    supplemented except in accordance with the provisions of the first sentence of this
    Section 6(f).</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">29</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">g)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Notices</u>. Any and all notices or other communications or
    deliveries required or permitted to be provided hereunder shall be delivered as set forth
    in the Purchase Agreement and the Amendment Agreement.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">h)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Successors and
    Assigns</u>. This Agreement shall inure to the benefit of and be binding upon the
    successors and permitted assigns of each of the parties and shall inure to the benefit of
    each Holder. The Company may not assign (except by merger) its rights or obligations
    hereunder without the prior written consent of all of the Holders of the then outstanding
    Registrable Securities. Each Holder may assign their respective rights hereunder in the
    manner and to the Persons as permitted under the Purchase Agreement and the Amendment
    Agreement.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">i)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>No Inconsistent
    Agreements</u>. Neither the Company nor any of its Subsidiaries has entered, as of the
    date hereof, nor shall the Company or any of its Subsidiaries, on or after the date of
    this Agreement, enter into any agreement with respect to its securities, that would have
    the effect of impairing the rights granted to the Holders in this Agreement or otherwise
    conflicts with the provisions hereof. Except as set forth on <u>Schedule 6(i)</u>, neither
    the Company nor any of its Subsidiaries has previously entered into any agreement granting
    any registration rights with respect to any of its securities to any Person that have not
    been satisfied in full.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">j)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Execution and
    Counterparts</u>. This Agreement may be executed in two or more counterparts, all of which
    when taken together shall be considered one and the same agreement and shall become
    effective when counterparts have been signed by each party and delivered to the other
    party, it being understood that both parties need not sign the same counterpart. In the
    event that any signature is delivered by facsimile transmission or by e-mail delivery of a
    &quot;.pdf&quot; format data file, such signature shall create a valid and binding
    obligation of the party executing (or on whose behalf such signature is executed) with the
    same force and effect as if such facsimile or &quot;.pdf&quot; signature page were an
    original thereof.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">k)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Governing Law</u>.
    All questions concerning the construction, validity, enforcement and interpretation of
    this Agreement shall be determined in accordance with the provisions of the Purchase
    Agreement and the Amendment Agreement.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">l)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Cumulative
    Remedies</u>. The remedies provided herein are cumulative and not exclusive of any other
    remedies provided by law.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">30</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">m)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><u><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Severability</u>. If any term, provision, covenant or restriction
    of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
    void or unenforceable, the remainder of the terms, provisions, covenants and restrictions
    set forth herein shall remain in full force and effect and shall in no way be affected,
    impaired or invalidated, and the parties hereto shall use their commercially reasonable
    efforts to find and employ an alternative means to achieve the same or substantially the
    same result as that contemplated by such term, provision, covenant or restriction. It is
    hereby stipulated and declared to be the intention of the parties that they would have
    executed the remaining terms, provisions, covenants and restrictions without including any
    of such that may be hereafter declared invalid, illegal, void or unenforceable.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">n)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Headings</u>. The
    headings in this Agreement are for convenience only, do not constitute a part of the
    Agreement and shall not be deemed to limit or affect any of the provisions hereof.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">o)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u>Independent
    Nature of Holders' Obligations and Rights</u>. The obligations of each Holder hereunder
    are several and not joint with the obligations of any other Holder hereunder, and no
    Holder shall be responsible in any way for the performance of the obligations of any other
    Holder hereunder. Nothing contained herein or in any other agreement or document delivered
    at any closing, and no action taken by any Holder pursuant hereto or thereto, shall be
    deemed to constitute the Holders as a partnership, an association, a joint venture or any
    other kind of entity, or create a presumption that the Holders are in any way acting in
    concert with respect to such obligations or the transactions contemplated by this
    Agreement. Each Holder shall be entitled to protect and enforce its rights, including
    without limitation the rights arising out of this Agreement, and it shall not be necessary
    for any other Holder to be joined as an additional party in any proceeding for such
    purpose.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">********************</font></p>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">31</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15" colspan="2"><p ALIGN="JUSTIFY"><font face="Times New Roman">IN
    WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
    date first written above.</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15" colspan="2"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15" colspan="2"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"></font></td>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"><b>CHINA MEDIA GROUP
    CORPORATION</b></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"></font></td>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"><b></b></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"></font></td>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"><b></b></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"></font></td>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman">By:__________________________________________<br>
    Name:<br>
    Title:</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"></font></td>
    <td VALIGN="top" height="15" width="50%"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15" colspan="2"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div>

<br><br>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">[SIGNATURE PAGE OF HOLDERS FOLLOWS]</font></p>

<br><br>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">32</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" COLSPAN="2" height="15"><p ALIGN="CENTER"><font face="Times New Roman">[SIGNATURE
    PAGE OF HOLDER TO RRA]</font></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"></td>
    <td WIDTH="54%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Name
    of Holder:</font></td>
    <td WIDTH="54%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"></td>
    <td WIDTH="54%" VALIGN="top" height="15"><p ALIGN="CENTER"><font face="Times New Roman">-------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"></td>
    <td WIDTH="54%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"><i><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Signature of Authorized Signatory of Holder</i>:</font></td>
    <td WIDTH="54%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"></td>
    <td WIDTH="54%" VALIGN="top" height="15"><p ALIGN="CENTER"><font face="Times New Roman">-------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"></td>
    <td WIDTH="54%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Name
    of Authorized Signatory:</font></td>
    <td WIDTH="54%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"></td>
    <td WIDTH="54%" VALIGN="top" height="15"><p ALIGN="CENTER"><font face="Times New Roman">-------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"></td>
    <td WIDTH="54%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Title
    of Authorized Signatory:</font></td>
    <td WIDTH="54%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="46%" VALIGN="top" height="15"></td>
    <td WIDTH="54%" VALIGN="top" height="15"><p ALIGN="CENTER"><font face="Times New Roman">-------------------------------------------------</font></td>
  </tr>
</table>
</center></div>

<br><br>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">[SIGNATURE PAGES CONTINUE]</font></p>

<br><br>

<br><br>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">33</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><u><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Annex A</font></b></u></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><u><b><font face="Times New Roman"></font></b></u></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><u><font face="Times New Roman"><b><p align="center"></b>Plan
    of Distribution<b></b></font></u></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><u><font face="Times New Roman"></font></u></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><u></u>Each Selling Stockholder
    (the &quot;<u>Selling Stockholders</u>&quot;) of the common stock and any of their
    pledgees, assignees and successors-in-interest may, from time to time, sell any or all of
    their shares of common stock on the [principal Trading Market] or any other stock
    exchange, market or trading facility on which the shares are traded or in private
    transactions. These sales may be at fixed or negotiated prices. A Selling Stockholder may
    use any one or more of the following methods when selling shares:<u></u></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">ordinary
    brokerage transactions and transactions in which the broker-dealer solicits purchasers;</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">block trades in
    which the broker-dealer will attempt to sell the shares as agent but may position and
    resell a portion of the block as principal to facilitate the transaction;</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">purchases by a
    broker-dealer as principal and resale by the broker-dealer for its account;</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">an exchange
    distribution in accordance with the rules of the applicable exchange;</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">privately negotiated
    transactions;</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">settlement of short
    sales entered into after the effective date of the registration statement of which this
    prospectus is a part;</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">broker-dealers may
    agree with the Selling Stockholders to sell a specified number of such shares at a
    stipulated price per share;</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">through the writing
    or settlement of options or other hedging transactions, whether through an options
    exchange or otherwise;</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">a combination of any
    such methods of sale; or</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">*</font></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">any other method
    permitted pursuant to applicable law.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">34</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Selling
    Stockholders may also sell shares under Rule 144 under the Securities Act of 1933, as
    amended (the &quot;<u>Securities Act</u>&quot;), if available, rather than under this
    prospectus.</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Broker-dealers engaged by the
    Selling Stockholders may arrange for other brokers-dealers to participate in sales.
    Broker-dealers may receive commissions or discounts from the Selling Stockholders (or, if
    any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in
    amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in
    the case of an agency transaction not in excess of a customary brokerage commission in
    compliance with FINRA NASD Rule 2440; and in the case of a principal transaction a markup
    or markdown in compliance with NASD IM-2440.</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">In connection with the sale of
    the common stock or interests therein, the Selling Stockholders may enter into hedging
    transactions with broker-dealers or other financial institutions, which may in turn engage
    in short sales of the common stock in the course of hedging the positions they assume. The
    Selling Stockholders may also sell shares of the common stock short and deliver these
    securities to close out their short positions, or loan or pledge the common stock to
    broker-dealers that in turn may sell these securities. The Selling Stockholders may also
    enter into option or other transactions with broker-dealers or other financial
    institutions or the creation of one or more derivative securities which require the
    delivery to such broker-dealer or other financial institution of shares offered by this
    prospectus, which shares such broker-dealer or other financial institution may resell
    pursuant to this prospectus (as supplemented or amended to reflect such transaction).</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Selling Stockholders and any
    broker-dealers or agents that are involved in selling the shares may be deemed to be
    &quot;underwriters&quot; within the meaning of the Securities Act in connection with such
    sales. In such event, any commissions received by such broker-dealers or agents and any
    profit on the resale of the shares purchased by them may be deemed to be underwriting
    commissions or discounts under the Securities Act. Each Selling Stockholder has informed
    the Company that it does not have any written or oral agreement or understanding, directly
    or indirectly, with any person to distribute the Common Stock. In no event shall any
    broker-dealer receive fees, commissions and markups which, in the aggregate, would exceed
    eight percent (8%).</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The Company is required to pay
    certain fees and expenses incurred by the Company incident to the registration of the
    shares. The Company has agreed to indemnify the Selling Stockholders against certain
    losses, claims, damages and liabilities, including liabilities under the Securities Act.</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">35</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Because
    Selling Stockholders may be deemed to be &quot;underwriters&quot; within the meaning of
    the Securities Act, they will be subject to the prospectus delivery requirements of the
    Securities Act including Rule 172 thereunder. In addition, any securities covered by this
    prospectus which qualify for sale pursuant to Rule 144 under the Securities Act may be
    sold under Rule 144 rather than under this prospectus. There is no underwriter or
    coordinating broker acting in connection with the proposed sale of the resale shares by
    the Selling Stockholders.</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">We agreed to keep this
    prospectus effective until the earlier of (i) the date on which the shares may be resold
    by the Selling Stockholders without registration and without regard to any volume
    limitations by reason of Rule 144(k) under the Securities Act or any other rule of similar
    effect or (ii) all of the shares have been sold pursuant to this prospectus or Rule 144
    under the Securities Act or any other rule of similar effect. The resale shares will be
    sold only through registered or licensed brokers or dealers if required under applicable
    state securities laws. In addition, in certain states, the resale shares may not be sold
    unless they have been registered or qualified for sale in the applicable state or an
    exemption from the registration or qualification requirement is available and is complied
    with.</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Under applicable rules and
    regulations under the Exchange Act, any person engaged in the distribution of the resale
    shares may not simultaneously engage in market making activities with respect to the
    common stock for the applicable restricted period, as defined in Regulation M, prior to
    the commencement of the distribution. In addition, the Selling Stockholders will be
    subject to applicable provisions of the Exchange Act and the rules and regulations
    thereunder, including Regulation M, which may limit the timing of purchases and sales of
    shares of the common stock by the Selling Stockholders or any other person. We will make
    copies of this prospectus available to the Selling Stockholders and have informed them of
    the need to deliver a copy of this prospectus to each purchaser at or prior to the time of
    the sale (including by compliance with Rule 172 under the Securities Act).</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">36</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">Annex B</font></b></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><b><font face="Times New Roman"><p align="center">china media
    group corporation</font></b></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><b><font face="Times New Roman"><p align="center">Selling
    Securityholder Notice and Questionnaire</font></b></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><b></b>The undersigned
    beneficial owner of common stock (the &quot;<u>Registrable Securities</u>&quot;) of China
    Media Group Corporation, a Texas corporation (the &quot;<u>Company</u>&quot;), understands
    that the Company has filed or intends to file with the Securities and Exchange Commission
    (the &quot;<u>Commission</u>&quot;) a registration statement (the &quot;<u>Registration
    Statement</u>&quot;) for the registration and resale under Rule 415 of the Securities Act
    of 1933, as amended (the &quot;<u>Securities Act</u>&quot;), of the Registrable
    Securities, in accordance with the terms of the Registration Rights Agreement (the &quot;<u>Registration
    Rights Agreement</u>&quot;) to which this document is annexed. A copy of the Registration
    Rights Agreement is available from the Company upon request at the address set forth
    below. All capitalized terms not otherwise defined herein shall have the meanings ascribed
    thereto in the Registration Rights Agreement.<b></b></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><b></b>Certain legal
    consequences arise from being named as a selling securityholder in the Registration
    Statement and the related prospectus. Accordingly, holders and beneficial owners of
    Registrable Securities are advised to consult their own securities law counsel regarding
    the consequences of being named or not being named as a selling securityholder in the
    Registration Statement and the related prospectus.<b></b></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"><p align="center"><b>NOTICE</b></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"><b></b></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><b></b>The undersigned
    beneficial owner (the &quot;<u>Selling Securityholder</u>&quot;) of Registrable Securities
    hereby elects to include the Registrable Securities owned by it in the Registration
    Statement.<b></b></font></td>
  </tr>
</table>
</center></div><b>

<br><br>
</b>

<p ALIGN="CENTER"><font face="Times New Roman">37</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The
    undersigned hereby provides the following information to the Company and represents and
    warrants that such information is accurate:</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"><p align="center"><b>QUESTIONNAIRE</b></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">1.</font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Name.</font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">(a)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Full
    Legal Name of Selling Securityholder</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman">-----------------------------------------------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">(b)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Full Legal Name of
    Registered Holder (if not the same as (a) above) through which Registrable Securities are
    held:</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman">-----------------------------------------------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">(c)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Full Legal Name of
    Natural Control Person (which means a natural person who directly or indirectly alone or
    with others has power to vote or dispose of the securities covered by this Questionnaire):</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman">-----------------------------------------------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">2.</font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Address for Notices to Selling Securityholder:</font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"><b></b>--------------------------------------------------------------------------------------------------<b></b></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"><b></b>--------------------------------------------------------------------------------------------------<b></b></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="TOP"></td>
    <td WIDTH="93%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Telephone: </font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP"></td>
    <td WIDTH="93%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Fax:</font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="TOP"></td>
    <td WIDTH="93%" VALIGN="TOP"><p ALIGN="JUSTIFY"><font face="Times New Roman">Contact
    Person:</font></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">38</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">

<br><br>

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">3.</font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Broker-Dealer Status:</font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">(a)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Are
    you a broker-dealer?</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="647">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="25%" VALIGN="TOP"><font face="Times New Roman">Yes [ ]</font></td>
    <td WIDTH="7%" VALIGN="TOP"></td>
    <td WIDTH="52%" VALIGN="TOP"><font face="Times New Roman">No [ ]</font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">(b)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">If &quot;yes&quot;
    to Section 3(a), did you receive your Registrable Securities as compensation for
    investment banking services to the Company?</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="647">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="25%" VALIGN="TOP"><font face="Times New Roman">Yes [ ]</font></td>
    <td WIDTH="7%" VALIGN="TOP"></td>
    <td WIDTH="52%" VALIGN="TOP"><font face="Times New Roman">No [ ]</font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="7%" VALIGN="TOP"><p ALIGN="JUSTIFY"></td>
    <td WIDTH="85%" VALIGN="TOP"><p ALIGN="JUSTIFY"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">Note:</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">If &quot;no&quot; to
    Section 3(b), the Commission's staff has indicated that you should be identified as an
    underwriter in the Registration Statement.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">(c)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Are you an affiliate
    of a broker-dealer?</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="647">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="25%" VALIGN="TOP"><font face="Times New Roman">Yes [ ]</font></td>
    <td WIDTH="7%" VALIGN="TOP"></td>
    <td WIDTH="52%" VALIGN="TOP"><font face="Times New Roman">No [ ]</font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">(d)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">If you are an
    affiliate of a broker-dealer, do you certify that you purchased the Registrable Securities
    in the ordinary course of business, and at the time of the purchase of the Registrable
    Securities to be resold, you had no agreements or understandings, directly or indirectly,
    with any person to distribute the Registrable Securities?</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="647">
  <tr>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="8%" VALIGN="TOP"></td>
    <td WIDTH="25%" VALIGN="TOP"><font face="Times New Roman">Yes [ ]</font></td>
    <td WIDTH="7%" VALIGN="TOP"></td>
    <td WIDTH="52%" VALIGN="TOP"><font face="Times New Roman">No [ ]</font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman">Note:</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">If &quot;no&quot; to
    Section 3(d), the Commission's staff has indicated that you should be identified as an
    underwriter in the Registration Statement.</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">4.</font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Beneficial Ownership of Securities of the Company Owned by the
    Selling Securityholder.</font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><b></b><i>Except as
    set forth below in this Item 4, the undersigned is not the beneficial or registered owner
    of any securities of the Company other than the securities issuable pursuant to the
    Purchase Agreement and the Amendment Agreement.</i><b></b></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">(a)</font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">Type
    and Amount of other securities beneficially owned by the Selling Securityholder:</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman">-----------------------------------------------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman">-----------------------------------------------------------------------------------------</font></td>
  </tr>
</table>
</center></div>

<p ALIGN="CENTER"><font face="Times New Roman"><br>
39</font></p>

<hr style="page-break-after: always; border-top: #000000 ; height: 1px" color="#000000"
width="800" noshade size="0">
<b>

<br><br>
</b><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">5.</font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><p ALIGN="JUSTIFY"><font
    face="Times New Roman">Relationships with the Company:</font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman"><b></b><i>Except as
    set forth below, neither the undersigned nor any of its affiliates, officers, directors or
    principal equity holders (owners of 5% of more of the equity securities of the
    undersigned) has held any position or office or has had any other material relationship
    with the Company (or its predecessors or affiliates) during the past three years.</i><b></b></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"><b></b>State any
    exceptions here:<b></b></font></td>
  </tr>
  <tr>
    <td WIDTH="7%" VALIGN="top" height="15"><b><font face="Times New Roman"></font></b></td>
    <td WIDTH="93%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">-----------------------------------------------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">-----------------------------------------------------------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="7%" VALIGN="top" height="15"></td>
    <td WIDTH="85%" VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">The
    undersigned agrees to promptly notify the Company of any inaccuracies or changes in the
    information provided herein that may occur subsequent to the date hereof at any time while
    the Registration Statement remains effective.</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">By signing below, the
    undersigned consents to the disclosure of the information contained herein in its answers
    to Items 1 through 5 and the inclusion of such information in the Registration Statement
    and the related prospectus and any amendments or supplements thereto. The undersigned
    understands that such information will be relied upon by the Company in connection with
    the preparation or amendment of the Registration Statement and the related prospectus.</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><p ALIGN="JUSTIFY"><font face="Times New Roman">IN WITNESS WHEREOF the
    undersigned, by authority duly given, has caused this Notice and Questionnaire to be
    executed and delivered either in person or by its duly authorized agent.</font></td>
  </tr>
  <tr>
    <td VALIGN="top" height="15"><font face="Times New Roman"></font></td>
  </tr>
</table>
</center></div><div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="644">
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"><font face="Times New Roman">Date:</font></td>
    <td WIDTH="25%" VALIGN="top" height="15"></td>
    <td WIDTH="3%" VALIGN="top" height="15"></td>
    <td WIDTH="23%" VALIGN="top" height="15"><p ALIGN="RIGHT"><font face="Times New Roman">Beneficial
    Owner:</font></td>
    <td WIDTH="41%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="25%" VALIGN="top" height="15"><font face="Times New Roman">------------------------</font></td>
    <td WIDTH="3%" VALIGN="top" height="15"></td>
    <td WIDTH="23%" VALIGN="top" height="15"></td>
    <td WIDTH="41%" VALIGN="top" height="15"><font face="Times New Roman">-----------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="25%" VALIGN="top" height="15"></td>
    <td WIDTH="3%" VALIGN="top" height="15"></td>
    <td WIDTH="23%" VALIGN="top" height="15"></td>
    <td WIDTH="41%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="25%" VALIGN="top" height="15"></td>
    <td WIDTH="3%" VALIGN="top" height="15"></td>
    <td WIDTH="23%" VALIGN="top" height="15"></td>
    <td WIDTH="41%" VALIGN="top" height="15"></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="25%" VALIGN="top" height="15"></td>
    <td WIDTH="3%" VALIGN="top" height="15"></td>
    <td WIDTH="23%" VALIGN="top" height="15"><p ALIGN="RIGHT"><font face="Times New Roman">By:</font></td>
    <td WIDTH="41%" VALIGN="top" height="15"><font face="Times New Roman">-----------------------------------------</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="25%" VALIGN="top" height="15"></td>
    <td WIDTH="3%" VALIGN="top" height="15"></td>
    <td WIDTH="23%" VALIGN="top" height="15"></td>
    <td WIDTH="41%" VALIGN="top" height="15"><font face="Times New Roman">Name:</font></td>
  </tr>
  <tr>
    <td WIDTH="8%" VALIGN="top" height="15"></td>
    <td WIDTH="25%" VALIGN="top" height="15"></td>
    <td WIDTH="3%" VALIGN="top" height="15"></td>
    <td WIDTH="23%" VALIGN="top" height="15"></td>
    <td WIDTH="41%" VALIGN="top" height="15"><font face="Times New Roman">Title:</font></td>
  </tr>
</table>
</center></div>

<br><br>
<div align="center"><center>

<table CELLSPACING="0" BORDER="0" CELLPADDING="1" WIDTH="646">
  <tr>
    <td VALIGN="TOP"><b><p ALIGN="JUSTIFY"><font face="Times New Roman">PLEASE FAX A COPY OF
    THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT
    MAIL, TO:</font></b></td>
  </tr>
</table>
</center></div>

<br><br>

<p ALIGN="CENTER"><font face="Times New Roman">40</font></p>

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</html>
[{"type": "8-K", "sequence": "1", "filename": "r8k-010808cmg.htm", "description": "AMENDMENT AGREEMENT", "secsgml_size_bytes": 190088}]
{"company-data": {"conformed-name": "China Media Group CORP", "cik": "0001211211", "assigned-sic": "7310", "irs-number": "320034926", "state-of-incorporation": "TX", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "000-50431", "film-number": "08516851"}, "business-address": {"street1": "9901 I.H. 10 WEST", "street2": "SUITE 800", "city": "SAN ANTONIO", "state": "TX", "zip": "78230", "phone": "01186755 61657704"}, "mail-address": {"street1": "9901 I.H. 10 WEST", "street2": "SUITE 800", "city": "SAN ANTONIO", "state": "TX", "zip": "78230"}, "former-company": {"former-conformed-name": "DELIGHTFULLY FROZEN CORP", "date-changed": "20021219"}}
CHINA MEDIA GROUP CORPORATION
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
__________________
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) of the
SECURITIES EXCHANGE ACT OF 1934
__________________
January 8, 2008
CHINA MEDIA GROUP CORPORATION
(Exact Name of Registrant as Specified in Charter)
Texas
(State or other jurisdiction
of incorporation)
333-141129
(Commission
File Number)
32-0034926
(IRS Employer
Identification No.)
Room
    1403, 14/F., 194-204 Johnston Road, Wan Chai Commercial Centre, Wan Chai, Hong Kong
n/a
(Address of
    principal executive offices)
(Zip code)
Registrant's
    telephone number, including area code:
011 852
    3171 1208 (Ext.222)
Check
    the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the
    filing obligation of the registrant under any of the following provisions:
[   ]
Written
    communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[   ]
Soliciting
    material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[   ]
Pre-commencement
    communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[   ]
Pre-commencement
    communications pursuant to Rule 13e-4(c) under the Exchange Act  (17 CFR
    240.13e-4(c))
Item 1.01
Entry
    into a Material Definitive Agreement
On or about December 7, 2006,
    China Media Group Corporation, a Texas corporation (the "
Company
"),
    entered into a Debenture Purchase Agreement (the "
DPA
") with Tailor-Made
    Capital Ltd ("
TMC
"), an Israeli Company affiliated with Meitav Investment
    House ("
Meitav
"), which is a privately owned asset management and
    investment banking firm based in Israel. Pursuant to the terms of the DPA, the Company may
    sell and issue to TMC, and TMC will purchase from the Company, up to an aggregate of
    $125,000 of convertible debentures (the "
Debentures
") of the Company in 3
    different tranches which will be due 12 months from the date of each issuance.
On the December 20, 2006, the
    Company issued the first tranche of $50,000 worth of convertible debentures (the
    "First Tranche Debenture"), which has a maturity date of December 20, 2007, and
    on March 27, 2007, both the Company and TMC agreed and executed the second tranche of
    $50,000 worth of convertible debentures and the third tranche of $25,000 worth of
    convertible debenture (the "Second Tranche Debenture"), which has a maturity
    date of March 28, 2008, together.
Under the terms of the
    Debentures, the Company shall pay interest to TMC on the aggregate unconverted and
    outstanding principal amount of the Debentures at the rate of 10% per annum, payable
    annually, on the date on which conversions, if any, will be effected by the holder of said
    Debentures (each a "
Conversion Date
"), and on the Maturity Date.
On December 20, 2007, the
    maturity date for the repayment of the interest and the First Tranche Debenture, both
    parties agreed to be entered into a Second Amendment Agreement (the "SAA") on
    January 4, 2008 to amend and restate the terms of the First Tranche Debenture as follows:
*
To postpone
    the repayment of the First Tranche Debenture (interest and principal amount) from December
    20, 2007 to March 28, 2008; and
*
The Company
    shall issue 2,631,579 restricted shares (the "Shares") to TMC as consideration for the postponement of
    the repayment of the First Tranche Debenture.
1
Under the terms of the
    related registration rights agreements between the Company and TMC (the "
RRA
")
    for the SAA, TMC will be entitled to resell the Shares as soon as the
    Company files a resale registration statement (the "
Registration Statement
")
    with the U.S. Securities and Exchange Commission (the "
Commission
") and
    the Registration Statement is declared effective by the Commission. Under the terms of the
    RRA, the Company must file the Registration Statement for the Shares on or before the 15
th
calendar day following the date of the execution of the SAA, and such Registration Statement must be
    declared effective by the Commission on or before the 60
th
calendar day
    following the date of execution the SAA.
Item 3.02
Unregistered
    Sales of Equity Securities
Pursuant to the SAA described in
    Item 1.01 above, the Registrant will issue 2,631,579 shares of common stock to TMC. The
    Common Shares issued will be restricted securities within the meaning of Rule 144 under
    the Securities Act. These shares cannot be sold, transferred or otherwise disposed of
    unless they are subsequently registered under the Securities Act or an exemption from
    registration is then available.
Item 9.01
Financial
    Statements and Exhibits
(d)
Exhibits
Exhibit
Description
Exhibit 10.1
Debenture
    Securities Purchase Agreement by and between the Company and TMC *
Exhibit 10.2
Convertible
    Debenture issued to TMC by the Company *
Exhibit 10.3
Debenture
    Registration Rights Agreement by and between the Company and TMC *
Exhibit 10.4
Second
    Amendment Agreement by and between the Company and TMC, provided herewith.
*
Incorporated by reference to our Current Report on Form 8-K filed
    with the SEC on December 13, 2006.
2
SIGNATURES
Pursuant to the
    requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly
    caused this Current Report to be signed on its behalf by the undersigned hereunto duly
    authorized.
Date: January 8, 2008
CHINA MEDIA GROUP CORPORATION
By:
/s/ Con Unerkov
Name: Con Unerkov
Title: President
EXHIBIT INDEX
Exhibit
Description
Exhibit 10.1
Debenture
    Securities Purchase Agreement by and between the Company and TMC *
Exhibit 10.2
Convertible
    Debenture issued to TMC by the Company *
Exhibit 10.3
Debenture
    Registration Rights Agreement by and between the Company and TMC *
Exhibit 10.4
Second
    Amendment Agreement by and between the Company and TMC, provided herewith.
*
Incorporated by reference to our Current Report on Form 8-K filed
    with the SEC on December 13, 2006.
3
EXHIBIT
    10.4
SECOND AMENDMENT AGREEMENT
This SECOND AMENDMENT
    AGREEMENT (this "
Agreement
") is entered into as of January ___, 2008
    between China Media Group Corporation, a Texas corporation (the "
Company
")
    and Tailor-Made Capital Ltd. (the "
Holder
").
Preliminary Statement
:
A.
The
    Company and the Holder entered into a Securities Purchase Agreement, dated as of December
    12, 2006 (the "
Purchase Agreement
"), pursuant to which the Company agreed
    to issue and sell to the Holder, and the Holder agreed to purchase from the Company, up to
    an aggregate of $125,000 of the Company's 10% Convertible Debentures (each, a "
Debenture
"
    and collectively, the "
Debentures
") in separate closings (each closing, a
    "
Tranche
"), subject to the terms and conditions of the Purchase
    Agreement;
B.
The first Tranche
    closed on December 12, 2006 and the Debenture issued in connection therewith had a
    principal amount of $50,000 (such amount "
First Tranche Principal Amount
")
    and a maturity date of December 20, 2007 (such Debenture, the "
First Tranche
    Debenture
");
C.
The second Tranche
    closed on March 27, 2007 and the Debenture issued in connection therewith had a principal
    amount of $75,000 and a maturity date of December 12, 2007 (such Debenture, the "
Second
    Tranche Debenture
");
D.
The Company and the
    Holder entered into an Amendment Agreement on May 21, 2007 (the "
First Amendment
    Agreement
") whereby the maturity date of the Second Tranche Debenture was
    extended until March 28, 2008; and
E.
The Company and the
    Holder wish to amend the terms of the First Tranche Debenture as set forth in this
    Agreement.
NOW THEREFORE, the
    Company and each Holder, in consideration of the mutual covenants contained in this
    Agreement, do hereby agree as follows:
1.
Definitions
.
    All initially capitalized, undefined terms used herein shall have the meanings ascribed to
    such terms in the Purchase Agreement, the First Amendment Agreement and the Transaction
    Documents.
4
2.
Amendment
    to the First Tranche Debenture
. The Company and the Holder hereby amend and restate
    the title and first two paragraphs of the First Tranche Debenture as follows:
"10%
    Convertible Debenture
Due March 28, 2008
THIS
    DEBENTURE is one of a series of duly authorized and validly issued 10% Convertible
    Debentures of China Media Group Corporation, a Texas corporation, having its principal
    place of business at c/o Yuen Partners, 10
th
Floor, Chiyu Bank Building, No. 78
    Des Voeux Road Central, Hong Kong (the "
Company
"), designated as its 10%
    Convertible Debenture due March 28, 2008 (this debenture, the "
Debenture
"
    and, collectively with the other such series of debentures, the "
Debentures
").
FOR VALUE RECEIVED, the
    Company promises to pay to Tailor-Made Capital Ltd. or its registered assigns (the "
Holder
"),
    or shall have paid pursuant to the terms hereunder, the principal sum of $50,000 on March
    28, 2008 (the "
Maturity Date
") or such earlier date as this Debenture is
    required or permitted to be repaid as provided hereunder, and to pay interest to the
    Holder on the aggregate unconverted and then outstanding principal amount of this
    Debenture in accordance with the provisions hereof. This Debenture is subject to the
    following additional provisions:
"
3.
Issuance
    of Shares of Common Stock
.
a)
In
    consideration for extending the Maturity Date of the First Tranche Debenture, the Company
    shall issue to the Holder a number of shares of Common Stock at a per share purchase price
    equal to __________ (such shares, the "
Shares
"). On or prior to the
    execution of this Agreement, the Company shall deliver to the Holder, a copy of the
    irrevocable instructions to the Transfer Agent instructing the Transfer Agent to deliver,
    on an expedited basis, a certificate evidencing a number of Shares equal to such the First
    Tranche Principal Amount divided by the Per Share Purchase Price, registered in the name
    of such Holder.
b)
The Company and the
    Holder hereby amend and restate the definition of "Securities" in Section 1.1 as
    follows:
"
Securities
"
    means the Shares, the Debentures and the Underlying Shares.
1
The lowest closing price for the 10 Trading Days immediately prior
    to the date hereof.
5
c)
The
    Company and the Holder shall enter into a Registration Rights Agreement, substantially in
    the form of
Exhibit A
attached hereto.
4.
Filing of Form 8-K
. Within 3 Trading Days of the date hereof,
    the Company shall issue a Current Report on Form 8-K, reasonably acceptable to the Holder
    disclosing the material terms of the transactions contemplated hereby, which shall include
    this Agreement as an attachment thereto. In addition, within 1 Trading Day of the date
    hereof, the Company shall file a prospectus supplement under Rule 424 under the Securities
    Act to registration statement number 333-141381, disclosing the terms of the transactions
    hereunder.
5.
Conditions to
    Holder's Obligations
. The obligations of the Holder hereunder in connection with the
    Closing are subject to the following conditions being met:
a)
the
    accuracy in all material respects on the date of the Closing of the representations and
    warranties of the Company contained herein;
b)
all obligations,
    covenants and agreements of the Company required to be performed at or prior to the
    Closing shall have been performed;
c)
there shall have
    been no Material Adverse Effect with respect to the Company since the date hereof; and
d)
from the date hereof
    to the Closing, trading in the Common Stock shall not have been suspended by the
    Commission (except for any suspension of trading of limited duration agreed to by the
    Company, which suspension shall be terminated prior to the Closing), and, at any time
    prior to the Closing, trading in securities generally as reported by Bloomberg Financial
    Markets shall not have been suspended or limited, or minimum prices shall not have been
    established on securities whose trades are reported by such service, or on any Trading
    Market, nor shall a banking moratorium have been declared either by the United States or
    New York State authorities nor shall there have occurred any material outbreak or
    escalation of hostilities or other national or international calamity of such magnitude in
    its effect on, or any material adverse change in, any financial market which, in each
    case, in the reasonable judgment of the Holder, makes it impracticable or inadvisable to
    consummate the transactions hereunder.
6
6.
Representations and Warranties of the Company
. The Company
    hereby makes to the Holder the following representations and warranties as of the date
    hereof:
a)
Authorization; Enforcement
. The Company has the requisite
    corporate power and authority to enter into and to consummate the transactions
    contemplated by this Agreement and otherwise to carry out its obligations hereunder and
    thereunder. The execution and delivery of this Agreement by the Company and the
    consummation by the Company of the transactions contemplated hereby have been duly
    authorized by all necessary action on the part of the Company and no further action is
    required by the Company, its board of directors or its stockholders in connection
    therewith other than in connection with the Required Approvals. This Agreement has been
    duly executed by the Company and, when delivered in accordance with the terms hereof, will
    constitute the valid and binding obligation of the Company enforceable against the Company
    in accordance with its terms except (i) as limited by general equitable principles and
    applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general
    application affecting enforcement of creditors' rights generally, (ii) as limited by laws
    relating to the availability of specific performance, injunctive relief or other equitable
    remedies and (iii) insofar as indemnification and contribution provisions may be limited
    by applicable law.
b)
No Conflicts
.
    The execution, delivery and performance of this Agreement by the Company and the
    consummation by the Company of the transactions contemplated hereby do not and will not:
    (i) conflict with or violate any provision of the Company's certificate or articles of
    incorporation, bylaws or other organizational or charter documents; or (ii) conflict with,
    or constitute a default (or an event that, with notice or lapse of time or both, would
    become a default) under, result in the creation of any Lien upon any of the properties or
    assets of the Company in connection with, or give to others any rights of termination,
    amendment, acceleration or cancellation (with or without notice, lapse of time or both)
    of, any material agreement, credit facility, debt or other material instrument (evidencing
    Company debt or otherwise) or other material understanding to which the Company is a party
    or by which any property or asset of the Company is bound or affected; or (iii) subject to
    the Required Approvals, conflict with or result in a violation of any law, rule,
    regulation, order, judgment, injunction, decree or other restriction of any court or
    governmental authority to which the Company is subject (including federal and state
    securities laws and regulations), or by which any property or asset of the Company is
    bound or affected, except, in the case of each of clauses (ii) and (iii), as such could
    not have or reasonably be expected to result in a Material Adverse Effect.
7
c)
Capitalization
. The Company is a duly organized and validly
    existing corporation in good standing under the laws of the State of Texas. The
    capitalization of the Company is as set forth on
Schedule 6(c)
. Immediately
    following the issuance of the Shares hereunder, there will be issued and outstanding
    _________ shares of Common Stock, all of which such issued and outstanding shares will be
    validly issued, fully paid and nonassessable. The Shares, when issued in accordance with
    the terms of this Agreement, will be duly authorized, validly issued, fully paid and
    nonassessable. Except as described in this Section or as set forth on the Disclosure
    Schedules to the Purchase Agreement or
Schedule 6(c)
attached hereto, there are no
    issued or outstanding securities and no issued or outstanding options, warrants or other
    rights, or commitments or agreements of any kind, contingent or otherwise, to purchase or
    otherwise acquire shares of Common Stock or any issued or outstanding securities of any
    nature convertible into shares of Common Stock. There is no proxy or any other agreement,
    arrangement or understanding of any kind authorized, effective or outstanding which
    restricts, limits or otherwise affects the right to vote any shares of Common Stock.
d)
Affirmation of
    Prior Representations and Warranties
. The Company hereby represents and warrants to
    each Holder that the Company's representations and warranties listed in Section 3.1 of the
    Purchase Agreement are true and correct as of the date hereof.
7.
Representation
    and Warranty of the Holder
. The Holder hereby makes the representation and warranty
    set forth below to the Company that as of the date of its execution of this Agreement, the
    Holder represents and warrants that (a) the execution and delivery of this Agreement by it
    and the consummation by it of the transactions contemplated hereby have been duly
    authorized by all necessary action on its behalf and (b) this Agreement has been duly
    executed and delivered by such Holder and constitutes the valid and binding obligation of
    such Holder, enforceable against it in accordance with its terms except (i) as limited by
    general equitable principles and applicable bankruptcy, insolvency, reorganization,
    moratorium and other laws of general application affecting enforcement of creditors'
    rights generally, (ii) as limited by laws relating to the availability of specific
    performance, injunctive relief or other equitable remedies and (iii) insofar as
    indemnification and contribution provisions may be limited by applicable law.
8
8.
Notices
. Any and all notices or other communications or
    deliveries required or permitted to be provided hereunder shall be made in accordance with
    the provisions of the Purchase Agreement.
9.
Effect on
    Transaction Documents
.
Except as expressly set forth above, all of the terms
    and conditions of the Transaction Documents shall continue in full force and effect after
    the execution of this Agreement and shall not be in any way changed, modified or
    superseded by the terms set forth herein, including, but not limited to, any other
    obligations the Company may have to the Holders under the Transaction Documents.
    Notwithstanding the foregoing, this Agreement shall be deemed for all purposes as an
    amendment to any Transaction Document as required to serve the purposes hereof, and in the
    event of any conflict between the terms and provisions of the Debentures or any other
    Transaction Document, on the one hand, and the terms and provisions of this Agreement, on
    the other hand, the terms and provisions of this Agreement shall prevail.
10.
Execution and
    Counterparts
. This Agreement may be executed in two or more counterparts, all of which
    when taken together shall be considered one and the same agreement and shall become
    effective when counterparts have been signed by each party and delivered to the other
    party, it being understood that both parties need not sign the same counterpart. In the
    event that any signature is delivered by facsimile transmission or by e-mail delivery of a
    ".pdf" format data file, such signature shall create a valid and binding
    obligation of the party executing (or on whose behalf such signature is executed) with the
    same force and effect as if such facsimile or ".pdf" signature page were an
    original thereof.
11.
Severability
.
    If any term, provision, covenant or restriction of this Agreement is held by a court of
    competent jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the
    terms, provisions, covenants and restrictions set forth herein shall remain in full force
    and effect and shall in no way be affected, impaired or invalidated, and the parties
    hereto shall use their commercially reasonable efforts to find and employ an alternative
    means to achieve the same or substantially the same result as that contemplated by such
    term, provision, covenant or restriction. It is hereby stipulated and declared to be the
    intention of the parties that they would have executed the remaining terms, provisions,
    covenants and restrictions without including any of such that may be hereafter declared
    invalid, illegal, void or unenforceable.
12.
Governing Law
.
    All questions concerning the construction, validity, enforcement and interpretation of
    this Agreement shall be determined pursuant to the Governing Law provision of the Purchase
    Agreement.
9
13.
Entire Agreement
. The Agreement, together with the exhibits and
    schedules thereto, contain the entire understanding of the parties with respect to the
    subject matter hereof and supersede all prior agreements and understandings, oral or
    written, with respect to such matters, which the parties acknowledge have been merged into
    such documents, exhibits and schedules.
14.
Construction
.
    The headings herein are for convenience only, do not constitute a part of this Agreement
    and shall not be deemed to limit or affect any of the provisions hereof. The language used
    in this Agreement will be deemed to be the language chosen by the parties to express their
    mutual intent, and no rules of strict construction will be applied against any party.
15.
Termination
.
    This Agreement may be terminated by any Holder, as to such Holder's obligations hereunder,
    by written notice to the other parties, if the Closing has not been consummated on or
    before January 4, 2008.
REMAINDER INTENTIONALLY LEFT BLANK
10
IN WITNESS WHEREOF, the
    parties hereto have caused this Agreement to be duly executed by their respective
    authorized signatories as of the date first indicated above.
CHINA
    MEDIA GROUP CORPORATION
By:
    ___________________________
Name: Con
    Unerkov
Title:
    President
11
[SIGNATURE
    PAGE OF HOLDER TO chmd SECOND AMENDMENT Agreement]
Name of Holder:
-------------------------------------------------
Signature of Authorized Signatory of Holder
:
-------------------------------------------------
Name of Authorized Signatory:
-------------------------------------------------
Title of Authorized Signatory:
-------------------------------------------------
12
EXHIBIT A
REGISTRATION RIGHTS AGREEMENT
This
    Registration Rights Agreement (this "
Agreement
") is made and entered into
    as of January ___, 2008, among China Media Group Corporation, a Texas (the "
Company
")
    and each of the several purchasers signatory hereto (each such purchaser, a "
Purchaser
"
    and, collectively, the "
Purchasers
").
This Agreement is made pursuant
    to the Securities Purchase Agreement, dated as of December 12, 2006, between the Company
    and each Purchaser (the "
Purchase Agreement
") and the Second Amendment
    Agreement, dated as of the date hereof, between the Company and each Purchaser (the "
Amendment
    Agreement
").
The Company and each Purchaser
    hereby agrees as follows:
1.
Definitions
Capitalized
    terms used and not otherwise defined herein that are defined in the Purchase Agreement or
    the Amendment Agreement shall have the meanings given such terms in the Purchase Agreement
    or the Amendment Agreement.
As used in this Agreement, the following terms shall have
    the following meanings:
"
Advice
"
    shall have the meaning set forth in Section 6(d).
"
Effectiveness
    Date
" means, with respect to the initial Registration Statement required to be
    filed hereunder, the 60
th
calendar day following the date hereof and with
    respect to any additional Registration Statements which may be required pursuant to
    Section 3(c), the 60
th
calendar day following the date on which an additional
    Registration Statement is required to be filed hereunder;
provided
,
however
,
    that in the event the Company is notified by the Commission that one or more of the above
    Registration Statements will not be reviewed or is no longer subject to further review and
    comments, the Effectiveness Date as to such Registration Statement shall be the fifth
    Trading Day following the date on which the Company is so notified if such date precedes
    the dates required above.
"
Effectiveness
    Period
" shall have the meaning set forth in Section 2(a).
13
"
Event
"
    shall have the meaning set forth in Section 2(b).
"
Event Date
"
    shall have the meaning set forth in Section 2(b).
"
Filing Date
"
    means, with respect to the initial Registration Statement required hereunder, the 15
th
calendar day following the date hereof and, with respect to any additional Registration
    Statements which may be required pursuant to Section 3(c), the earliest practical date on
    which the Company is permitted by SEC Guidance to file such additional Registration
    Statement related to the Registrable Securities.
"
Holder
"
    or "
Holders
" means the holder or holders, as the case may be, from time
    to time of Registrable Securities.
"
Indemnified
    Party
" shall have the meaning set forth in Section 5(c).
"
Indemnifying
    Party
" shall have the meaning set forth in Section 5(c).
"
Losses
"
    shall have the meaning set forth in Section 5(a).
"
Plan of
    Distribution
" shall have the meaning set forth in Section 2(a).
"
Prospectus
"
    means the prospectus included in a Registration Statement (including, without limitation,
    a prospectus that includes any information previously omitted from a prospectus filed as
    part of an effective registration statement in reliance upon Rule 430A promulgated by the
    Commission pursuant to the Securities Act), as amended or supplemented by any prospectus
    supplement, with respect to the terms of the offering of any portion of the Registrable
    Securities covered by a Registration Statement, and all other amendments and supplements
    to the Prospectus, including post-effective amendments, and all material incorporated by
    reference or deemed to be incorporated by reference in such Prospectus.
"
Registrable
    Securities
" means (i) all Shares and (ii) any securities issued or issuable upon
    any stock split, dividend or other distribution, recapitalization or similar event with
    respect to the foregoing.
14
"
Registration
    Statement
" means the registration statement required to be filed hereunder and
    any additional registration statements contemplated by Section 3(c), including (in each
    case) the Prospectus, amendments and supplements to such registration statement or
    Prospectus, including pre- and post-effective amendments, all exhibits thereto, and all
    material incorporated by reference or deemed to be incorporated by reference in such
    registration statement.
"
Rule 415
"
    means Rule 415 promulgated by the Commission pursuant to the Securities Act, as such Rule
    may be amended from time to time, or any similar rule or regulation hereafter adopted by
    the Commission having substantially the same purpose and effect as such Rule.
"
Rule 424
"
    means Rule 424 promulgated by the Commission pursuant to the Securities Act, as such Rule
    may be amended from time to time, or any similar rule or regulation hereafter adopted by
    the Commission having substantially the same purpose and effect as such Rule.
"
Selling
    Shareholder Questionnaire
" shall have the meaning set forth in Section 3(a).
15
2.
Shelf Registration
a)
On or prior
    to each Filing Date, the Company shall prepare and file with the Commission a Registration
    Statement covering the resale of all or such maximum portion of the Registrable Securities
    on such Filing Date for an offering to be made on a continuous basis pursuant to Rule 415.
    The Registration Statement shall be on Form S-3 (except if the Company is not then
    eligible to register for resale the Registrable Securities on Form S-3, in which case such
    registration shall be on another appropriate form in accordance herewith) and shall
    contain (unless otherwise directed by at least an 85% majority in interest of the Holders)
    substantially the "
Plan of Distribution
" attached hereto as
Annex A
.
    Subject to the terms of this Agreement, the Company shall use its commercially reasonable
    efforts to cause a Registration Statement to be declared effective under the Securities
    Act as promptly as possible after the filing thereof, but in any event prior to the
    applicable Effectiveness Date, and shall use its commercially reasonable efforts to keep
    such Registration Statement continuously effective under the Securities Act until all
    Registrable Securities covered by such Registration Statement have been sold, or may be
    sold without volume restrictions pursuant to Rule 144(k), as determined by the counsel to
    the Company pursuant to a written opinion letter to such effect, addressed and acceptable
    to the Transfer Agent and the affected Holders (the "
Effectiveness Period
").
    The Company shall telephonically request effectiveness of a Registration Statement as of
    5:00 p.m. New York City time on a Trading Day. The Company shall immediately notify the
    Holders via facsimile or by e-mail of the effectiveness of a Registration Statement on the
    same Trading Day that the Company telephonically confirms effectiveness with the
    Commission, which shall be the date requested for effectiveness of such Registration
    Statement. The Company shall, by 9:30 a.m. New York City time on the Trading Day after the
    effective date of such Registration Statement, file a final Prospectus with the Commission
    as required by Rule 424. Failure to so notify the Holder within 1 Trading Day of such
    notification of effectiveness or failure to file a final Prospectus as foresaid shall be
    deemed an Event under Section 2(b).
16
b)
If: (i) a
    Registration Statement is not filed on or prior to its Filing Date (if the Company files a
    Registration Statement without affording the Holders the opportunity to review and comment
    on the same as required by Section 3(a) herein, the Company shall be deemed to have not
    satisfied this clause (i)), or (ii) the Company fails to file with the Commission a
    request for acceleration of a Registration Statement in accordance with Rule 461
    promulgated by the Commission pursuant to the Securities Act, within five Trading Days of
    the date that the Company is notified (orally or in writing, whichever is earlier) by the
    Commission that such Registration Statement will not be "reviewed" or will not
    be subject to further review, or (iii) prior to the effective date of a Registration
    Statement, the Company fails to file a pre-effective amendment and otherwise respond in
    writing to comments made by the Commission in respect of such Registration Statement
    within 10 calendar days after the receipt of comments by or notice from the Commission
    that such amendment is required in order for such Registration Statement to be declared
    effective, or (iv) a Registration Statement filed or required to be filed hereunder is not
    declared effective by the Commission by its Effectiveness Date, or (v) after the
    Effectiveness Date, a Registration Statement ceases for any reason to remain continuously
    effective as to all Registrable Securities for which it is required to be effective, or
    the Holders are otherwise not permitted to utilize the Prospectus therein to resell such
    Registrable Securities, for more than 10 consecutive calendar days or more than an
    aggregate of 15 calendar days during any 12-month period (which need not be consecutive
    calendar days) (any such failure or breach being referred to as an "
Event
",
    and for purposes of clause (i) or (iv) the date on which such Event occurs, or for
    purposes of clause (ii) the date on which such five Trading Day period is exceeded, or for
    purposes of clause (iii) the date which such 10 calendar day period is exceeded, or for
    purposes of clause (v) the date on which such 10 or 15 calendar day period, as applicable,
    is exceeded being referred to as "
Event Date
"), then, in addition to any
    other rights the Holders may have hereunder or under applicable law, on each such Event
    Date and on each monthly anniversary of each such Event Date (if the applicable Event
    shall not have been cured by such date) until the applicable Event is cured, the Company
    shall pay to each Holder an amount in cash, as partial liquidated damages and not as a
    penalty, equal to 1.5% of the aggregate purchase price paid by such Holder pursuant to the
    Amendment Agreement for any unregistered Registrable Securities then held by such Holder.
    The parties agree that
17
(1)
    in no event shall the Company be liable for liquidated damages under this Agreement in
    excess of 1.5% of the aggregate First Tranche Principal Amount in any 30-day period and
    (2) the maximum aggregate liquidated damages payable to a Holder under this Agreement
    shall be 24% of the aggregate First Tranche Principal Amount paid by such Holder pursuant
    to the Amendment Agreement. If the Company fails to pay any partial liquidated damages
    pursuant to this Section in full within seven days after the date payable, the Company
    will pay interest thereon at a rate of 18% per annum (or such lesser maximum amount that
    is permitted to be paid by applicable law) to the Holder, accruing daily from the date
    such partial liquidated damages are due until such amounts, plus all such interest
    thereon, are paid in full. The partial liquidated damages pursuant to the terms hereof
    shall apply on a daily pro rata basis for any portion of a month prior to the cure of an
    Event.
3.
Registration Procedures
.
In connection with
    the Company's registration obligations hereunder, the Company shall:
a)
Not less than
    five (5) Trading Days prior to the filing of each Registration Statement and not less than
    one (1) Trading Day prior to the filing of any related Prospectus or any amendment or
    supplement thereto (including any document that would be incorporated or deemed to be
    incorporated therein by reference), the Company shall (i) furnish to each Holder copies of
    all such documents proposed to be filed, which documents (other than those incorporated or
    deemed to be incorporated by reference) will be subject to the review of such Holders, and
    (ii) cause its officers and directors, counsel and independent certified public
    accountants to respond to such inquiries as shall be necessary, in the reasonable opinion
    of respective counsel to each Holder, to conduct a reasonable investigation within the
    meaning of the Securities Act. The Company shall not file a Registration Statement or any
    such Prospectus or any amendments or supplements thereto to which the Holders of a
    majority of the Registrable Securities shall reasonably object in good faith, provided
    that, the Company is notified of such objection in writing no later than five (5) Trading
    Days after the Holders have been so furnished copies of a Registration Statement or one
    (1) Trading Day after the Holders have been so furnished copies of any related Prospectus
    or amendments or supplements thereto and provided that such failure to file shall not
    constitute a default under any of the Transaction Documents provided that the Company use
    commercially reasonable effort to address such objections promptly. Each Holder agrees to
    furnish to the Company a completed questionnaire in the form attached to this Agreement as
Annex B
(a "
Selling Shareholder Questionnaire
") not less than five
    Trading Days prior to the Filing Date or by the end of the fourth (4
th
) Trading
    Day following the date on which such Holder receives draft materials in accordance with
    this Section.
18
b)
(i)
    Prepare and file with the Commission such amendments, including post-effective amendments,
    to a Registration Statement and the Prospectus used in connection therewith as may be
    necessary to keep a Registration Statement continuously effective as to the applicable
    Registrable Securities for the Effectiveness Period and prepare and file with the
    Commission such additional Registration Statements in order to register for resale under
    the Securities Act all of the Registrable Securities; (ii) cause the related Prospectus to
    be amended or supplemented by any required Prospectus supplement (subject to the terms of
    this Agreement), and, as so supplemented or amended, to be filed pursuant to Rule 424;
    (iii) respond as promptly as reasonably possible to any comments received from the
    Commission with respect to a Registration Statement or any amendment thereto and provide
    as promptly as reasonably possible to the Holders true and complete copies of all
    correspondence from and to the Commission relating to a Registration Statement (provided
    that, the Company may excise any information contained therein which would constitute
    material non-public information as to any Holder which has not executed a confidentiality
    agreement with the Company); and (iv) comply in all material respects with the provisions
    of the Securities Act and the Exchange Act with respect to the disposition of all
    Registrable Securities covered by a Registration Statement during the applicable period in
    accordance (subject to the terms of this Agreement) with the intended methods of
    disposition by the Holders thereof set forth in such Registration Statement as so amended
    or in such Prospectus as so supplemented.
c)
If during the
    Effectiveness Period, the number of Registrable Securities at any time exceeds 100% of the
    number of shares of Common Stock then registered in a Registration Statement, then the
    Company shall file as soon as reasonably practicable, but in any case prior to the
    applicable Filing Date, an additional Registration Statement covering the resale by the
    Holders of not less than the number of such Registrable Securities.
19
d)
Notify the
    Holders of Registrable Securities to be sold (which notice shall, pursuant to clauses
    (iii) through (vi) hereof, be accompanied by an instruction to suspend the use of the
    Prospectus until the requisite changes have been made) as promptly as reasonably possible
    (and, in the case of (i)(A) below, not less than one Trading Day prior to such filing) and
    (if requested by any such Person) confirm such notice in writing no later than one Trading
    Day following the day (i)(A) when a Prospectus or any Prospectus supplement or
    post-effective amendment to a Registration Statement is proposed to be filed; (B) when the
    Commission notifies the Company whether there will be a "review" of such
    Registration Statement and whenever the Commission comments in writing on such
    Registration Statement; and (C) with respect to a Registration Statement or any
    post-effective amendment, when the same has become effective; (ii) of any request by the
    Commission or any other federal or state governmental authority for amendments or
    supplements to a Registration Statement or Prospectus or for additional information; (iii)
    of the issuance by the Commission or any other federal or state governmental authority of
    any stop order suspending the effectiveness of a Registration Statement covering any or
    all of the Registrable Securities or the initiation of any Proceedings for that purpose;
    (iv) of the receipt by the Company of any notification with respect to the suspension of
    the qualification or exemption from qualification of any of the Registrable Securities for
    sale in any jurisdiction, or the initiation or threatening of any Proceeding for such
    purpose; (v) of the occurrence of any event or passage of time that makes the financial
    statements included in a Registration Statement ineligible for inclusion therein or any
    statement made in a Registration Statement or Prospectus or any document incorporated or
    deemed to be incorporated therein by reference untrue in any material respect or that
    requires any revisions to a Registration Statement, Prospectus or other documents so that,
    in the case of a Registration Statement or the Prospectus, as the case may be, it will not
    contain 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, in light of the
    circumstances under which they were made, not misleading; and (vi) of the occurrence or
    existence of any pending corporate development with respect to the Company that the
    Company believes may be material and that, in the determination of the Company, makes it
    not in the best interest of the Company to allow continued availability of a Registration
    Statement or Prospectus, provided that, any and all of such information shall remain
    confidential to each Holder until such information otherwise becomes public, unless
    disclosure by a Holder is required by law;
provided
,
further
, that
    notwithstanding each Holder's agreement to keep such information confidential, each such
    Holder makes no acknowledgement that any such information is material, non-public
    information.
20
e)
Use
    its best efforts to avoid the issuance of, or, if issued, obtain the withdrawal of (i) any
    order suspending the effectiveness of a Registration Statement, or (ii) any suspension of
    the qualification (or exemption from qualification) of any of the Registrable Securities
    for sale in any jurisdiction, at the earliest practicable moment.
f)
Furnish to each
    Holder, without charge, at least one conformed copy of each such Registration Statement
    and each amendment thereto, including financial statements and schedules, all documents
    incorporated or deemed to be incorporated therein by reference to the extent requested by
    such Person, and all exhibits to the extent requested by such Person (including those
    previously furnished or incorporated by reference) promptly after the filing of such
    documents with the Commission; provided, that any such item which is available on the
    EDGAR system need not be furnished in physical form.
g)
Subject to the terms
    of this Agreement, the Company hereby consents to the use of such Prospectus and each
    amendment or supplement thereto by each of the selling Holders in connection with the
    offering and sale of the Registrable Securities covered by such Prospectus and any
    amendment or supplement thereto, except after the giving of any notice pursuant to Section
    3(d).
h)
The Company shall
    cooperate with any broker-dealer through which a Holder proposes to resell its Registrable
    Securities in effecting a filing with the FINRA Corporate Financing Department pursuant to
    NASD Rule 2710, as requested by any such Holder, and the Company shall pay the filing fee
    required by such filing within two (2) Business Days of request therefor.
i)
Prior to any resale
    of Registrable Securities by a Holder, use its commercially reasonable efforts to register
    or qualify or cooperate with the selling Holders in connection with the registration or
    qualification (or exemption from the Registration or qualification) of such Registrable
    Securities for the resale by the Holder under the securities or Blue Sky laws of such
    jurisdictions within the United States as any Holder reasonably requests in writing, to
    keep each registration or qualification (or exemption therefrom) effective during the
    Effectiveness Period and to do any and all other acts or things reasonably necessary to
    enable the disposition in such jurisdictions of the Registrable Securities covered by each
    Registration Statement; provided, that, the Company shall not be required to qualify
    generally to do business in any jurisdiction where it is not then so qualified, subject
    the Company to any material tax in any such jurisdiction where it is not then so subject
    or file a general consent to service of process in any such jurisdiction.
21
j)
If
    requested by a Holder, cooperate with such Holders to facilitate the timely preparation
    and delivery of certificates representing Registrable Securities to be delivered to a
    transferee pursuant to a Registration Statement, which certificates shall be free, to the
    extent permitted by the Amendment Agreement, of all restrictive legends, and to enable
    such Registrable Securities to be in such denominations and registered in such names as
    any such Holder may request.
k)
Upon the occurrence
    of any event contemplated by Section 3(d), as promptly as reasonably possible under the
    circumstances taking into account the Company's good faith assessment of any adverse
    consequences to the Company and its stockholders of the premature disclosure of such
    event, prepare a supplement or amendment, including a post-effective amendment, to a
    Registration Statement or a supplement to the related Prospectus or any document
    incorporated or deemed to be incorporated therein by reference, and file any other
    required document so that, as thereafter delivered, neither a Registration Statement nor
    such Prospectus will contain an untrue statement of a material fact or omit to state a
    material fact required to be stated therein or necessary to make the statements therein,
    in light of the circumstances under which they were made, not misleading. If the Company
    notifies the Holders in accordance with clauses (iii) through (vi) of Section 3(d) above
    to suspend the use of any Prospectus until the requisite changes to such Prospectus have
    been made, then the Holders shall suspend use of such Prospectus. The Company will use its
    best efforts to ensure that the use of the Prospectus may be resumed as promptly as is
    practicable. The Company shall be entitled to exercise its right under this Section 3(k)
    to suspend the availability of a Registration Statement and Prospectus, subject to the
    payment of partial liquidated damages otherwise required pursuant to Section 2(b), for a
    period not to exceed 60 calendar days (which need not be consecutive days) in any 12 month
    period
.
l)
Comply with all
    applicable rules and regulations of the Commission.
22
m)
The
    Company may require each selling Holder to furnish to the Company a certified statement as
    to the number of shares of Common Stock beneficially owned by such Holder and, if required
    by the Commission, the natural persons thereof that have voting and dispositive control
    over the shares. During any periods that the Company is unable to meet its obligations
    hereunder with respect to the registration of the Registrable Securities solely because
    any Holder fails to furnish such information within three Trading Days of the Company's
    request, any liquidated damages that are accruing at such time as to such Holder only
    shall be tolled and any Event that may otherwise occur solely because of such delay shall
    be suspended as to such Holder only, until such information is delivered to the Company.
4.
Registration
    Expenses
. All fees and expenses incident to the performance of or compliance with this
    Agreement by the Company shall be borne by the Company whether or not any Registrable
    Securities are sold pursuant to a Registration Statement. The fees and expenses referred
    to in the foregoing sentence shall include, without limitation, (i) all registration and
    filing fees (including, without limitation, fees and expenses of the Company's counsel and
    auditors) (A) with respect to filings made with the Commission, (B) with respect to
    filings required to be made with any Trading Market on which the Common Stock is then
    listed for trading, (C) in compliance with applicable state securities or Blue Sky laws
    reasonably agreed to by the Company in writing (including, without limitation, fees and
    disbursements of counsel for the Company in connection with Blue Sky qualifications or
    exemptions of the Registrable Securities) and (D) if not previously paid by the Company in
    connection with an Issuer Filing, with respect to any filing that may be required to be
    made by any broker through which a Holder intends to make sales of Registrable Securities
    with the FINRA pursuant to NASD Rule 2710, so long as the broker is receiving no more than
    a customary brokerage commission in connection with such sale, (ii) printing expenses
    (including, without limitation, expenses of printing certificates for Registrable
    Securities), (iii) messenger, telephone and delivery expenses, (iv) fees and disbursements
    of counsel for the Company, (v) Securities Act liability insurance, if the Company so
    desires such insurance, and (vi) fees and expenses of all other Persons retained by the
    Company in connection with the consummation of the transactions contemplated by this
    Agreement. In addition, the Company shall be responsible for all of its internal expenses
    incurred in connection with the consummation of the transactions contemplated by this
    Agreement (including, without limitation, all salaries and expenses of its officers and
    employees performing legal or accounting duties), the expense of any annual audit and the
    fees and expenses incurred in connection with the listing of the Registrable Securities on
    any securities exchange as required hereunder. In no event shall the Company be
    responsible for any broker or similar commissions of any Holder or, except to the extent
    provided for in the Transaction Documents, any legal fees or other costs of the Holders.
23
5.
Indemnification
.
a)
Indemnification
    by the Company
. The Company shall, notwithstanding any termination of this Agreement,
    indemnify and hold harmless each Holder, the officers, directors, members, partners,
    agents, brokers (including brokers who offer and sell Registrable Securities as principal
    as a result of a pledge or any failure to perform under a margin call of Common Stock),
    investment advisors and employees (and any other Persons with a functionally equivalent
    role of a Person holding such titles, notwithstanding a lack of such title or any other
    title) of each of them, each Person who controls any such Holder (within the meaning of
    Section 15 of the Securities Act or Section 20 of the Exchange Act) and the officers,
    directors, members, shareholders, partners, agents and employees (and any other Persons
    with a functionally equivalent role of a Person holding such titles, notwithstanding a
    lack of such title or any other title) of each such controlling Person, to the fullest
    extent permitted by applicable law, from and against any and all losses, claims, damages,
    liabilities, costs (including, without limitation, reasonable attorneys' fees) and
    expenses (collectively, "Losses"), as incurred, arising out of or relating to
    (1) any untrue or alleged untrue statement of a material fact contained in a Registration
    Statement, any Prospectus or any form of prospectus or in any amendment or supplement
    thereto or in any preliminary prospectus, or arising out of or relating to any omission or
    alleged omission of a material fact required to be stated therein or necessary to make the
    statements therein (in the case of any Prospectus or form of prospectus or supplement
    thereto, in light of the circumstances under which they were made) not misleading or (2)
    any violation or alleged violation by the Company of the Securities Act, the Exchange Act
    or any state securities law, or any rule or regulation thereunder, in connection with the
    performance of its obligations under this Agreement, except to the extent, but only to the
    extent, that (i) such untrue statements or omissions are based solely upon information
    regarding such Holder furnished in writing to the Company by such Holder expressly for use
    therein, or to the extent that such information relates to such Holder or such Holder's
    proposed method of distribution of Registrable Securities and was reviewed and expressly
    approved in writing by such Holder expressly for use in a Registration Statement, such
    Prospectus or such form of Prospectus or in any amendment or supplement thereto (it being
    understood that the Holder has approved Annex A hereto for this purpose) or (ii) in the
    case of an occurrence of an event of the type specified in Section 3(d)(iii)-(vi), the use
    by such Holder of an outdated or defective Prospectus after the Company has notified such
    Holder in writing that the Prospectus is outdated or defective and prior to the receipt by
    such Holder of the Advice contemplated in Section 6(d). The Company shall notify the
    Holders promptly of the institution, threat or assertion of any Proceeding arising from or
    in connection with the transactions contemplated by this Agreement of which the Company is
    aware.
24
b)
Indemnification by Holders
. Each Holder shall, severally and
    not jointly, indemnify and hold harmless the Company, its directors, officers, agents and
    employees, each Person who controls the Company (within the meaning of Section 15 of the
    Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents or
    employees of such controlling Persons, to the fullest extent permitted by applicable law,
    from and against all Losses, as incurred, to the extent arising out of or based solely
    upon: (x) such Holder's failure to comply with the prospectus delivery requirements of the
    Securities Act or (y) any untrue or alleged untrue statement of a material fact contained
    in any Registration Statement, any Prospectus, or any form of prospectus, or in any
    amendment or supplement thereto or in any preliminary prospectus, or arising out of or
    relating to any omission or alleged omission of a material fact required to be stated
    therein or necessary to make the statements therein not misleading (i) to the extent, but
    only to the extent, that such untrue statement or omission is contained in any information
    so furnished in writing by such Holder to the Company specifically for inclusion in such
    Registration Statement or such Prospectus or (ii) to the extent that such information
    relates to such Holder's proposed method of distribution of Registrable Securities and was
    reviewed and expressly approved in writing by such Holder expressly for use in a
    Registration Statement (it being understood that the Holder has approved Annex A hereto
    for this purpose), such Prospectus or such form of Prospectus or in any amendment or
    supplement thereto or (ii) in the case of an occurrence of an event of the type specified
    in Section 3(d)(iii)-(vi), the use by such Holder of an outdated or defective Prospectus
    after the Company has notified such Holder in writing that the Prospectus is outdated or
    defective and prior to the receipt by such Holder of the Advice contemplated in Section
    6(d). In no event shall the liability of any selling Holder hereunder be greater in amount
    than the dollar amount of the net proceeds received by such Holder upon the sale of the
    Registrable Securities giving rise to such indemnification obligation.
c)
Conduct of
    Indemnification Proceedings
. If any Proceeding shall be brought or asserted against
    any Person entitled to indemnity hereunder (an "
Indemnified Party
"), such
    Indemnified Party shall promptly notify the Person from whom indemnity is sought (the
    "
Indemnifying Party
") in writing, and the Indemnifying Party shall have
    the right to assume the defense thereof, including the employment of counsel reasonably
    satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in
    connection with defense thereof; provided, that, the failure of any Indemnified Party to
    give such notice shall not relieve the Indemnifying Party of its obligations or
    liabilities pursuant to this Agreement, except (and only) to the extent that it shall be
    finally determined by a court of competent jurisdiction (which determination is not
    subject to appeal or further review) that such failure shall have prejudiced the
    Indemnifying Party.
25
An
    Indemnified Party shall have the right to employ separate counsel in any such Proceeding
    and to participate in the defense thereof, but the fees and expenses of such counsel shall
    be at the expense of such Indemnified Party or Parties unless: (1) the Indemnifying Party
    has agreed in writing to pay such fees and expenses; (2) the Indemnifying Party shall have
    failed promptly to assume the defense of such Proceeding and to employ counsel reasonably
    satisfactory to such Indemnified Party in any such Proceeding; or (3) the named parties to
    any such Proceeding (including any impleaded parties) include both such Indemnified Party
    and the Indemnifying Party, and counsel to the Indemnified Party shall reasonably believe
    that a material conflict of interest is likely to exist if the same counsel were to
    represent such Indemnified Party and the Indemnifying Party (in which case, if such
    Indemnified Party notifies the Indemnifying Party in writing that it elects to employ
    separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall
    not have the right to assume the defense thereof and the reasonable fees and expenses of
    no more than one separate counsel shall be at the expense of the Indemnifying Party). The
    Indemnifying Party shall not be liable for any settlement of any such Proceeding effected
    without its written consent, which consent shall not be unreasonably withheld or delayed.
    No Indemnifying Party shall, without the prior written consent of the Indemnified Party,
    effect any settlement of any pending Proceeding in respect of which any Indemnified Party
    is a party, unless such settlement includes an unconditional release of such Indemnified
    Party from all liability on claims that are the subject matter of such Proceeding.
Subject to the terms
    of this Agreement, all reasonable fees and expenses of the Indemnified Party (including
    reasonable fees and expenses to the extent incurred in connection with investigating or
    preparing to defend such Proceeding in a manner not inconsistent with this Section) shall
    be paid to the Indemnified Party, as incurred, within ten Trading Days of written notice
    thereof to the Indemnifying Party; provided, that, the Indemnified Party shall promptly
    reimburse the Indemnifying Party for that portion of such fees and expenses applicable to
    such actions for which such Indemnified Party is judicially determined not to be entitled
    to indemnification hereunder.
26
d)
Contribution
. If the indemnification under Section 5(a) or 5(b)
    is unavailable to an Indemnified Party or insufficient to hold an Indemnified Party
    harmless for any Losses, then each Indemnifying Party shall contribute to the amount paid
    or payable by such Indemnified Party, in such proportion as is appropriate to reflect the
    relative fault of the Indemnifying Party and Indemnified Party in connection with the
    actions, statements or omissions that resulted in such Losses as well as any other
    relevant equitable considerations. The relative fault of such Indemnifying Party and
    Indemnified Party shall be determined by reference to, among other things, whether any
    action in question, including any untrue or alleged untrue statement of a material fact or
    omission or alleged omission of a material fact, has been taken or made by, or relates to
    information supplied by, such Indemnifying Party or Indemnified Party, and the parties'
    relative intent, knowledge, access to information and opportunity to correct or prevent
    such action, statement or omission. The amount paid or payable by a party as a result of
    any Losses shall be deemed to include, subject to the limitations set forth in this
    Agreement, any reasonable attorneys' or other fees or expenses incurred by such party in
    connection with any Proceeding to the extent such party would have been indemnified for
    such fees or expenses if the indemnification provided for in this Section was available to
    such party in accordance with its terms.
The parties hereto
    agree that it would not be just and equitable if contribution pursuant to this Section
    5(d) were determined by pro rata allocation or by any other method of allocation that does
    not take into account the equitable considerations referred to in the immediately
    preceding paragraph. Notwithstanding the provisions of this Section 5(d), no Holder shall
    be required to contribute, in the aggregate, any amount in excess of the amount by which
    the net proceeds actually received by such Holder from the sale of the Registrable
    Securities subject to the Proceeding exceeds the amount of any damages that such Holder
    has otherwise been required to pay by reason of such untrue or alleged untrue statement or
    omission or alleged omission.
The indemnity and
    contribution agreements contained in this Section are in addition to any liability that
    the Indemnifying Parties may have to the Indemnified Parties.
27
6.
Miscellaneous
.
a)
Remedies
. In the event of a breach by the Company or by a
    Holder of any of their respective obligations under this Agreement, each Holder or the
    Company, as the case may be, in addition to being entitled to exercise all rights granted
    by law and under this Agreement, including recovery of damages, shall be entitled to
    specific performance of its rights under this Agreement. The Company and each Holder agree
    that monetary damages would not provide adequate compensation for any losses incurred by
    reason of a breach by it of any of the provisions of this Agreement and hereby further
    agrees that, in the event of any action for specific performance in respect of such
    breach, it shall not assert or shall waive the defense that a remedy at law would be
    adequate.
b)
No Piggyback on
    Registrations; Prohibition on Filing Other Registration Statements
. Except as set
    forth on
Schedule 6(b)
attached hereto, neither the Company nor any of its security
    holders (other than the Holders in such capacity pursuant hereto) may include securities
    of the Company in any Registration Statements other than the Registrable Securities. The
    Company shall not file any other registration statements until all Registrable Securities
    are registered pursuant to a Registration Statement that is declared effective by the
    Commission, provided that this Section 6(b) shall not prohibit the Company from filing
    amendments to registration statements filed prior to the date of this Agreement.
c)
Compliance
.
    Each Holder covenants and agrees that it will comply with the prospectus delivery
    requirements of the Securities Act as applicable to it in connection with sales of
    Registrable Securities pursuant to a Registration Statement.
d)
Discontinued
    Disposition
. By its acquisition of Registrable Securities, each Holder agrees that,
    upon receipt of a notice from the Company of the occurrence of any event of the kind
    described in Section 3(d)(iii) through (vi), such Holder will forthwith discontinue
    disposition of such Registrable Securities under a Registration Statement until it is
    advised in writing (the "
Advice
") by the Company that the use of the
    applicable Prospectus (as it may have been supplemented or amended) may be resumed. The
    Company will use its best efforts to ensure that the use of the Prospectus may be resumed
    as promptly as is practicable. The Company agrees and acknowledges that any periods during
    which the Holder is required to discontinue the disposition of the Registrable Securities
    hereunder shall be subject to the provisions of Section 2(b).
28
e)
Piggy-Back Registrations
. If, at any time during the
    Effectiveness Period, there is not an effective Registration Statement covering all of the
    Registrable Securities and the Company shall determine to prepare and file with the
    Commission a registration statement relating to an offering for its own account or the
    account of others under the Securities Act of any of its equity securities, other than on
    Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then
    equivalents relating to equity securities to be issued solely in connection with any
    acquisition of any entity or business or equity securities issuable in connection with the
    Company's stock option or other employee benefit plans, then the Company shall send to
    each Holder a written notice of such determination and, if within fifteen days after the
    date of such notice, any such Holder shall so request in writing, the Company shall
    include in such registration statement all or any part of such Registrable Securities such
    Holder requests to be registered;
provided
,
however
, that the Company shall
    not be required to register any Registrable Securities pursuant to this Section 6(e) that
    are eligible for resale pursuant to Rule 144(k) promulgated by the Commission pursuant to
    the Securities Act or that are the subject of a then effective Registration Statement.
f)
Amendments and
    Waivers
. The provisions of this Agreement, including the provisions of this sentence,
    may not be amended, modified or supplemented, and waivers or consents to departures from
    the provisions hereof may not be given, unless the same shall be in writing and signed by
    the Company and each Holder of the then outstanding Registrable Securities (including, for
    this purpose any Registrable Securities issuable upon exercise or conversion of any
    Security). If a Registration Statement does not register all of the Registrable Securities
    pursuant to a waiver or amendment done in compliance with the previous sentence, then the
    number of Registrable Securities to be registered for each Holder shall be reduced pro
    rata among all Holders and each Holder shall have the right to designate which of its
    Registrable Securities shall be omitted from such Registration Statement. Notwithstanding
    the foregoing, a waiver or consent to depart from the provisions hereof with respect to a
    matter that relates exclusively to the rights of a Holder or some Holders and that does
    not directly or indirectly affect the rights of other Holders may be given by such Holder
    or Holders of all of the Registrable Securities to which such waiver or consent relates;
provided
,
however
, that the provisions of this sentence may not be amended, modified, or
    supplemented except in accordance with the provisions of the first sentence of this
    Section 6(f).
29
g)
Notices
. Any and all notices or other communications or
    deliveries required or permitted to be provided hereunder shall be delivered as set forth
    in the Purchase Agreement and the Amendment Agreement.
h)
Successors and
    Assigns
. This Agreement shall inure to the benefit of and be binding upon the
    successors and permitted assigns of each of the parties and shall inure to the benefit of
    each Holder. The Company may not assign (except by merger) its rights or obligations
    hereunder without the prior written consent of all of the Holders of the then outstanding
    Registrable Securities. Each Holder may assign their respective rights hereunder in the
    manner and to the Persons as permitted under the Purchase Agreement and the Amendment
    Agreement.
i)
No Inconsistent
    Agreements
. Neither the Company nor any of its Subsidiaries has entered, as of the
    date hereof, nor shall the Company or any of its Subsidiaries, on or after the date of
    this Agreement, enter into any agreement with respect to its securities, that would have
    the effect of impairing the rights granted to the Holders in this Agreement or otherwise
    conflicts with the provisions hereof. Except as set forth on
Schedule 6(i)
, neither
    the Company nor any of its Subsidiaries has previously entered into any agreement granting
    any registration rights with respect to any of its securities to any Person that have not
    been satisfied in full.
j)
Execution and
    Counterparts
. This Agreement may be executed in two or more counterparts, all of which
    when taken together shall be considered one and the same agreement and shall become
    effective when counterparts have been signed by each party and delivered to the other
    party, it being understood that both parties need not sign the same counterpart. In the
    event that any signature is delivered by facsimile transmission or by e-mail delivery of a
    ".pdf" format data file, such signature shall create a valid and binding
    obligation of the party executing (or on whose behalf such signature is executed) with the
    same force and effect as if such facsimile or ".pdf" signature page were an
    original thereof.
k)
Governing Law
.
    All questions concerning the construction, validity, enforcement and interpretation of
    this Agreement shall be determined in accordance with the provisions of the Purchase
    Agreement and the Amendment Agreement.
l)
Cumulative
    Remedies
. The remedies provided herein are cumulative and not exclusive of any other
    remedies provided by law.
30
m)
Severability
. If any term, provision, covenant or restriction
    of this Agreement is held by a court of competent jurisdiction to be invalid, illegal,
    void or unenforceable, the remainder of the terms, provisions, covenants and restrictions
    set forth herein shall remain in full force and effect and shall in no way be affected,
    impaired or invalidated, and the parties hereto shall use their commercially reasonable
    efforts to find and employ an alternative means to achieve the same or substantially the
    same result as that contemplated by such term, provision, covenant or restriction. It is
    hereby stipulated and declared to be the intention of the parties that they would have
    executed the remaining terms, provisions, covenants and restrictions without including any
    of such that may be hereafter declared invalid, illegal, void or unenforceable.
n)
Headings
. The
    headings in this Agreement are for convenience only, do not constitute a part of the
    Agreement and shall not be deemed to limit or affect any of the provisions hereof.
o)
Independent
    Nature of Holders' Obligations and Rights
. The obligations of each Holder hereunder
    are several and not joint with the obligations of any other Holder hereunder, and no
    Holder shall be responsible in any way for the performance of the obligations of any other
    Holder hereunder. Nothing contained herein or in any other agreement or document delivered
    at any closing, and no action taken by any Holder pursuant hereto or thereto, shall be
    deemed to constitute the Holders as a partnership, an association, a joint venture or any
    other kind of entity, or create a presumption that the Holders are in any way acting in
    concert with respect to such obligations or the transactions contemplated by this
    Agreement. Each Holder shall be entitled to protect and enforce its rights, including
    without limitation the rights arising out of this Agreement, and it shall not be necessary
    for any other Holder to be joined as an additional party in any proceeding for such
    purpose.
********************
31
IN
    WITNESS WHEREOF, the parties have executed this Registration Rights Agreement as of the
    date first written above.
CHINA MEDIA GROUP
    CORPORATION
By:__________________________________________
Name:
Title:
[SIGNATURE PAGE OF HOLDERS FOLLOWS]
32
[SIGNATURE
    PAGE OF HOLDER TO RRA]
Name
    of Holder:
-------------------------------------------------
Signature of Authorized Signatory of Holder
:
-------------------------------------------------
Name
    of Authorized Signatory:
-------------------------------------------------
Title
    of Authorized Signatory:
-------------------------------------------------
[SIGNATURE PAGES CONTINUE]
33
Annex A
Plan
    of Distribution
Each Selling Stockholder
    (the "
Selling Stockholders
") of the common stock and any of their
    pledgees, assignees and successors-in-interest may, from time to time, sell any or all of
    their shares of common stock on the [principal Trading Market] or any other stock
    exchange, market or trading facility on which the shares are traded or in private
    transactions. These sales may be at fixed or negotiated prices. A Selling Stockholder may
    use any one or more of the following methods when selling shares:
*
ordinary
    brokerage transactions and transactions in which the broker-dealer solicits purchasers;
*
block trades in
    which the broker-dealer will attempt to sell the shares as agent but may position and
    resell a portion of the block as principal to facilitate the transaction;
*
purchases by a
    broker-dealer as principal and resale by the broker-dealer for its account;
*
an exchange
    distribution in accordance with the rules of the applicable exchange;
*
privately negotiated
    transactions;
*
settlement of short
    sales entered into after the effective date of the registration statement of which this
    prospectus is a part;
*
broker-dealers may
    agree with the Selling Stockholders to sell a specified number of such shares at a
    stipulated price per share;
*
through the writing
    or settlement of options or other hedging transactions, whether through an options
    exchange or otherwise;
*
a combination of any
    such methods of sale; or
*
any other method
    permitted pursuant to applicable law.
34
The Selling
    Stockholders may also sell shares under Rule 144 under the Securities Act of 1933, as
    amended (the "
Securities Act
"), if available, rather than under this
    prospectus.
Broker-dealers engaged by the
    Selling Stockholders may arrange for other brokers-dealers to participate in sales.
    Broker-dealers may receive commissions or discounts from the Selling Stockholders (or, if
    any broker-dealer acts as agent for the purchaser of shares, from the purchaser) in
    amounts to be negotiated, but, except as set forth in a supplement to this Prospectus, in
    the case of an agency transaction not in excess of a customary brokerage commission in
    compliance with FINRA NASD Rule 2440; and in the case of a principal transaction a markup
    or markdown in compliance with NASD IM-2440.
In connection with the sale of
    the common stock or interests therein, the Selling Stockholders may enter into hedging
    transactions with broker-dealers or other financial institutions, which may in turn engage
    in short sales of the common stock in the course of hedging the positions they assume. The
    Selling Stockholders may also sell shares of the common stock short and deliver these
    securities to close out their short positions, or loan or pledge the common stock to
    broker-dealers that in turn may sell these securities. The Selling Stockholders may also
    enter into option or other transactions with broker-dealers or other financial
    institutions or the creation of one or more derivative securities which require the
    delivery to such broker-dealer or other financial institution of shares offered by this
    prospectus, which shares such broker-dealer or other financial institution may resell
    pursuant to this prospectus (as supplemented or amended to reflect such transaction).
The Selling Stockholders and any
    broker-dealers or agents that are involved in selling the shares may be deemed to be
    "underwriters" within the meaning of the Securities Act in connection with such
    sales. In such event, any commissions received by such broker-dealers or agents and any
    profit on the resale of the shares purchased by them may be deemed to be underwriting
    commissions or discounts under the Securities Act. Each Selling Stockholder has informed
    the Company that it does not have any written or oral agreement or understanding, directly
    or indirectly, with any person to distribute the Common Stock. In no event shall any
    broker-dealer receive fees, commissions and markups which, in the aggregate, would exceed
    eight percent (8%).
The Company is required to pay
    certain fees and expenses incurred by the Company incident to the registration of the
    shares. The Company has agreed to indemnify the Selling Stockholders against certain
    losses, claims, damages and liabilities, including liabilities under the Securities Act.
35
Because
    Selling Stockholders may be deemed to be "underwriters" within the meaning of
    the Securities Act, they will be subject to the prospectus delivery requirements of the
    Securities Act including Rule 172 thereunder. In addition, any securities covered by this
    prospectus which qualify for sale pursuant to Rule 144 under the Securities Act may be
    sold under Rule 144 rather than under this prospectus. There is no underwriter or
    coordinating broker acting in connection with the proposed sale of the resale shares by
    the Selling Stockholders.
We agreed to keep this
    prospectus effective until the earlier of (i) the date on which the shares may be resold
    by the Selling Stockholders without registration and without regard to any volume
    limitations by reason of Rule 144(k) under the Securities Act or any other rule of similar
    effect or (ii) all of the shares have been sold pursuant to this prospectus or Rule 144
    under the Securities Act or any other rule of similar effect. The resale shares will be
    sold only through registered or licensed brokers or dealers if required under applicable
    state securities laws. In addition, in certain states, the resale shares may not be sold
    unless they have been registered or qualified for sale in the applicable state or an
    exemption from the registration or qualification requirement is available and is complied
    with.
Under applicable rules and
    regulations under the Exchange Act, any person engaged in the distribution of the resale
    shares may not simultaneously engage in market making activities with respect to the
    common stock for the applicable restricted period, as defined in Regulation M, prior to
    the commencement of the distribution. In addition, the Selling Stockholders will be
    subject to applicable provisions of the Exchange Act and the rules and regulations
    thereunder, including Regulation M, which may limit the timing of purchases and sales of
    shares of the common stock by the Selling Stockholders or any other person. We will make
    copies of this prospectus available to the Selling Stockholders and have informed them of
    the need to deliver a copy of this prospectus to each purchaser at or prior to the time of
    the sale (including by compliance with Rule 172 under the Securities Act).
36
Annex B
china media
    group corporation
Selling
    Securityholder Notice and Questionnaire
The undersigned
    beneficial owner of common stock (the "
Registrable Securities
") of China
    Media Group Corporation, a Texas corporation (the "
Company
"), understands
    that the Company has filed or intends to file with the Securities and Exchange Commission
    (the "
Commission
") a registration statement (the "
Registration
    Statement
") for the registration and resale under Rule 415 of the Securities Act
    of 1933, as amended (the "
Securities Act
"), of the Registrable
    Securities, in accordance with the terms of the Registration Rights Agreement (the "
Registration
    Rights Agreement
") to which this document is annexed. A copy of the Registration
    Rights Agreement is available from the Company upon request at the address set forth
    below. All capitalized terms not otherwise defined herein shall have the meanings ascribed
    thereto in the Registration Rights Agreement.
Certain legal
    consequences arise from being named as a selling securityholder in the Registration
    Statement and the related prospectus. Accordingly, holders and beneficial owners of
    Registrable Securities are advised to consult their own securities law counsel regarding
    the consequences of being named or not being named as a selling securityholder in the
    Registration Statement and the related prospectus.
NOTICE
The undersigned
    beneficial owner (the "
Selling Securityholder
") of Registrable Securities
    hereby elects to include the Registrable Securities owned by it in the Registration
    Statement.
37
The
    undersigned hereby provides the following information to the Company and represents and
    warrants that such information is accurate:
QUESTIONNAIRE
1.
Name.
(a)
Full
    Legal Name of Selling Securityholder
-----------------------------------------------------------------------------------------
(b)
Full Legal Name of
    Registered Holder (if not the same as (a) above) through which Registrable Securities are
    held:
-----------------------------------------------------------------------------------------
(c)
Full Legal Name of
    Natural Control Person (which means a natural person who directly or indirectly alone or
    with others has power to vote or dispose of the securities covered by this Questionnaire):
-----------------------------------------------------------------------------------------
2.
Address for Notices to Selling Securityholder:
--------------------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------------------
Telephone:
Fax:
Contact
    Person:
38
3.
Broker-Dealer Status:
(a)
Are
    you a broker-dealer?
Yes [ ]
No [ ]
(b)
If "yes"
    to Section 3(a), did you receive your Registrable Securities as compensation for
    investment banking services to the Company?
Yes [ ]
No [ ]
Note:
If "no" to
    Section 3(b), the Commission's staff has indicated that you should be identified as an
    underwriter in the Registration Statement.
(c)
Are you an affiliate
    of a broker-dealer?
Yes [ ]
No [ ]
(d)
If you are an
    affiliate of a broker-dealer, do you certify that you purchased the Registrable Securities
    in the ordinary course of business, and at the time of the purchase of the Registrable
    Securities to be resold, you had no agreements or understandings, directly or indirectly,
    with any person to distribute the Registrable Securities?
Yes [ ]
No [ ]
Note:
If "no" to
    Section 3(d), the Commission's staff has indicated that you should be identified as an
    underwriter in the Registration Statement.
4.
Beneficial Ownership of Securities of the Company Owned by the
    Selling Securityholder.
Except as
    set forth below in this Item 4, the undersigned is not the beneficial or registered owner
    of any securities of the Company other than the securities issuable pursuant to the
    Purchase Agreement and the Amendment Agreement.
(a)
Type
    and Amount of other securities beneficially owned by the Selling Securityholder:
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------
39
5.
Relationships with the Company:
Except as
    set forth below, neither the undersigned nor any of its affiliates, officers, directors or
    principal equity holders (owners of 5% of more of the equity securities of the
    undersigned) has held any position or office or has had any other material relationship
    with the Company (or its predecessors or affiliates) during the past three years.
State any
    exceptions here:
-----------------------------------------------------------------------------------------
-----------------------------------------------------------------------------------------
The
    undersigned agrees to promptly notify the Company of any inaccuracies or changes in the
    information provided herein that may occur subsequent to the date hereof at any time while
    the Registration Statement remains effective.
By signing below, the
    undersigned consents to the disclosure of the information contained herein in its answers
    to Items 1 through 5 and the inclusion of such information in the Registration Statement
    and the related prospectus and any amendments or supplements thereto. The undersigned
    understands that such information will be relied upon by the Company in connection with
    the preparation or amendment of the Registration Statement and the related prospectus.
IN WITNESS WHEREOF the
    undersigned, by authority duly given, has caused this Notice and Questionnaire to be
    executed and delivered either in person or by its duly authorized agent.
Date:
Beneficial
    Owner:
------------------------
-----------------------------------------
By:
-----------------------------------------
Name:
Title:
PLEASE FAX A COPY OF
    THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE, AND RETURN THE ORIGINAL BY OVERNIGHT
    MAIL, TO:
40