CASIN FACTORY ACQUISITION AGREEMENT
This memorandum of understanding made the twenty third of November one thousand nine hundred and ninety
Between Casin Video Cassette Limited of ninth floor Block A, Man Fung Industrial Building, 7 Cheung Lee
Street, Chai Wan, hereinafter referred to as "the vendor" of the first part.
And Beacon Light Holding Corporation of 2 Stanford Landing, Suite 100, Stamford, CT 06902-7649 U.S.A.,
or their nominee hereinafter referred to as "the purchaser" of the second part.
A. The Vendor is the owner of Casin Magnetic Manufactory, a manufacturing company situated at the Lucky
Industrial Area, Tong Ha Chung Village, Song Gong Town, Bao An Shenzen, Peoples Republic of China.
B. The purchaser has offered to purchase from the vendor the said manufacturing company, inclusive of it's
licenses to conducted a manufacturing business in the Peoples Republic of China and it's tenancy agreement to
lease the factory buildings and purchase its fixed assets and inventory, and trade names and trade marks, the
vendor owns in respect of products Casin Magnetic Manufactory manufactures.
Now it is hereby agreed and declared as follows:
1. The Vendor and the purchaser will enter into a formal agreement covering the sale by the vendor of Casin
Magnetic Manufactory to the purchaser.
2. The said formal agreement will include amongst its provisions, certain provisions in relation to the following:
A) That the vendor has a Tenancy Agreement to lease the factory premises for 11 more years and that the
vendor will warrant he has the right to assign the said Tenancy Agreement and will agree to assign the Tenancy
Agreement to the Purchaser.
B) That the vendor will agree to sell to the purchaser the fixed assets as listed in the evaluation report prepared
for Beacon Light and inventory of Casin Magnetic Manufactory that will be fully described in a schedule to the
proposed formal agreement.
C) That the vendor will affect the transfer of all lice