Announcement Of Busen Zhejiang's Signing Of Fund-Raising Funds For Wholly Owned Subsidiaries

All members of the company and the board of directors guarantee the authenticity, accuracy and completeness of the information disclosure, without any false record, misleading statement or major omission.

The seventh meeting of the third board of directors of Limited by Share Ltd, Zhejiang Busen apparel company, considered and adopted the motion on increasing capital Guiyang Busen Clothing Co., Ltd., and agreed that the company implemented the fund-raising investment project through the way of increasing capital to Guiyang Busen Clothing Co., with the registered capital changed from RMB 5 million yuan to RMB 21 million yuan.

In order to regulate the management and use of fund-raising funds and protect the interests of investors, in accordance with the relevant laws and regulations, and the guidelines for the standardized operation of Listed Companies in the SME Board of the Shenzhen stock exchange, the wholly owned subsidiary of Guiyang Busen Clothing Co., Ltd. (hereinafter referred to as "Busen Busen"), China Co truction Bank Corp Zhuji branch (hereinafter referred to as "Zhuji branch of China Construction Bank") and the first venture Morgan chase Securities Limited (hereinafter referred to as "one creation Morgan") signed the "three party supervision agreement on raising funds". The main provisions of the three party agreement are as follows:

1. Guiyang Busen has opened a special account for raising funds in Zhuji branch of China Construction Bank (hereinafter referred to as "special account"). The account number is 33001656359053009397. As at March 14, 2012, the balance of the account was 1 000 000 yuan.

The account is only used for the storage and use of the marketing network construction project of Guiyang Busen clothing Limited company. It can not be used for other purposes.

Two, Guiyang Busen and China Construction Bank Zhuji sub branch shall abide by the laws, regulations and regulations of the People's Republic of China bill law, the payment and settlement method, and the management measures of RMB bank settlement accounts.

Three, a Morgan as a sponsor of the company, should be appointed according to the relevant provisions of the sponsor representative or other staff to supervise the use of Busen Guiyang to raise funds.

Morgan made a commitment to carry out recommendation duties in the management of funds raised by Busen in Guiyang and carry out continuous supervision work in accordance with the Interim Measures for the sponsorship system of securities issuance and listing, the guidelines for the standardized operation of Listed Companies in the SME Board of the Shenzhen stock exchange, and the "management system of raising funds" formulated by the company.

Morgan can exercise his supervisory power through on-site investigation and written inquiries.

Guiyang Busen and China Construction Bank Zhuji sub branch should cooperate with a survey and enquiry of Morgan.

Morgan, a quarterly developer, should check the storage situation of Busen accounts in Guiyang quarterly.

Four, Guiyang Busen authorized Morgan, a designated sponsor representative, Wang Weigang and Duan Xiaodong to consult with Zhuji branch of China Construction Bank at any time and copy the data of Busen Busen special account. Zhuji branch of China Construction Bank should provide timely, accurate and complete information to the relevant special accounts.

The sponsor representative should issue his legal identity certificate to the Zhuji branch of CCB for information about the Busen special account in Guiyang. If any other staff member appointed by Morgan is to inquire about the Busen special account of Guiyang branch of China Construction Bank, the legal identity certificate and the letter of introduction of the unit should be issued.

Five, the Zhuji branch of China Construction Bank will issue a real, accurate and complete account statement to Guiyang Busen on a monthly basis (10 days before the date of each month), and send it to a Morgan.

Six, Guiyang Busen 1 or 12 months within a total of more than 10 million yuan from the account or the total amount of the total amount of the issue of raising funds after deducting the issuance cost of 5% of the net, Guiyang Busen [and China Construction Bank Zhuji sub] should promptly fax a notice to create a Morgan, at the same time provide a list of accounts.

Seven. Morgan has the right to replace the designated sponsor representative in accordance with relevant regulations.

In case of a replacement of the sponsor representative by Morgan, the relevant supporting documents should be notified in writing to the Zhuji branch of China Construction Bank. At the same time, in accordance with the requirements of the thirteenth article of this agreement, the Guiyang branch of Busen and China Construction Bank Zhuji branch shall inform the replacement sponsor's representative's contact form in writing.

Replacing the sponsor representative does not affect the validity of this agreement.

Eight, the Zhuji branch of China Construction Bank has not made a timely report to the Guiyang Busen or a Morgan to issue a statement of accounts or a large amount of withdrawals to a Guiyang developer for three consecutive times, and if there is a situation that does not match Morgan's investigation account, Guiyang Busen or one Morgan can terminate this agreement unilaterally. Guiyang Busen can cancel the fund raising account after the termination of the agreement.

Nine, a Morgan found that Guiyang Busen and China Construction Bank Zhuji branch failed to fulfill the agreement in accordance with the agreement, should be informed of the facts in a timely manner to the Shenzhen stock exchange written report in a timely manner.

Ten. This Agreement shall come into force on the date of signing and affixing the official seal of the three party legal representatives of Party A, B, C, or their authorized representatives, until all the funds of the special account are expended and a failure will be made after the completion of Morgan's supervision period.

Eleven, any dispute arising out of this agreement or in connection with this Agreement shall first be settled through friendly negotiation between the parties.

If the request for service in any direction is not reached within 30 working days from the date of notification of the negotiation of the dispute mentioned above, any party shall have the right to submit the dispute to the Beijing General Assembly of the China International Economic and Trade Arbitration Commission ("trade intermediate") for arbitration (and the arbitration agency to be submitted for dispute shall only be trade).

The arbitral award shall be final and binding upon all parties hereto.

Arbitration shall be carried out in accordance with the arbitration rules of trade arbitration which are effective when applying for arbitration (except as otherwise stipulated in this Agreement), and the arbitral tribunal shall consist of three arbitrators. One or more parties to the arbitration shall appoint an arbitrator. One arbitrator shall be appointed for one or more parties to reply to the arbitration.

The chief arbitrator shall be an expert with rich experience and prestige in the field of international finance and securities, and shall be jointly selected by all parties. If the parties fail to reach an agreement within 20 working days from the date of the appointment of second arbitrators, the designated chief arbitrator shall be designated by the director of trade.

In the process of dispute resolution, all parties to this Agreement shall continue to perform this agreement in full.

Notice hereby!

Zhejiang Busen apparel Limited by Share Ltd

Board of directors

March 22nd two one or two