DOMAIN NAME ASSIGNMENT AGREEMENT

     This Domain Name Assignment Agreement (the "Agreement") is entered into as
of May 5, 2004 between the following two parties.

Assignor:        Beijing Cool Young Information Technology Co., Ltd.
Legal Address:   Hua ao Center, Block 3, Apt. 9E, Zizhuyuan Road, Haidian
                 District, Beijing

Assignee:        Hurray! Times Communications (Beijing) Ltd.
Legal Address:   No.B07, Floor B, Tong Heng Plaza, No.4 Huayuan Road, Haidian
                 District, Beijing

     WHEREAS, the Assignor is a limited company company registered in Beijing
under the laws of the People's Republic of China (the "PRC") and owns certain
domain names of (the "Domain Names", as listed in Appendix 1).

     WHEREAS, the Assignee is a wholly foreign-owned enterprise registered under
the laws of the PRC in Beijing;

     WHEREAS, the Assignor agrees to assign the Domain Names to the Assignee and
the Assignee agrees to accept the assignment of the Domain Names.

     NOW, THEREFORE, the parties agree as follows:

1.   Transfer of Domain Names

     The Assignor agrees to change the registered owner of the Domain Names into
     the Assignee and the Assignee agrees to accept the change of the registered
     owner of the Domain Names. The Assignee shall pay the Assignor an amount of
     RMB 1,000 as a transfer fee for the Domain Names transferred hereunder.

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2.   Registration Fees

     The registration for the change of the registered owner of the Domain Names
     shall be undertaken by the Assignor and the Assignor shall bear the
     registration fees incurred hereby.

3.   Representations and Warranties

     3.1  The Assignor hereby represents and warrants as follows:

     3.1.1 the Assignor is a limited liability company duly registered and
          validly existing under the laws of the PRC.

     3.1.2 the Assignor has the exclusive ownership of the Domain Names and no
          rights of any third party is prejudiced due to the use of the Domain
          Names. There is no litigation or any other disputes arising from or
          relating to the Domain Names.

     3.1.3 the Assignor executes and performs this Agreement within its
          corporate authority and business scope; it has obtained all consents
          and approvals of any other third party and government authority
          necessary for this Agreement, and shall not be against any enforceable
          and effective laws or contracts.

     3.1.4 once this Agreement is duly executed by both parties, it will
          constitute a legal, valid and binding agreement of the Assignor and is
          enforceable against it in accordance with its terms.

     3.1.5 the Assignor will not engage in any action that will be of detriment
          to the validity of the Domain Names after the completion of the
          assignment.

     3.2  The Assignee hereby represents and warrants as follows:

     3.2.1 the Assignee is a wholly foreign-owned enterprise duly registered and
          validly existing under the laws of the PRC.

     3.2.2 the Assignee executes and performs this Agreement within its
          corporate authority and business scope and has obtained all consents
          and approvals of any other third party and government authority
          necessary for this Agreement, which shall not be against any
          enforceable and effective laws or contracts.

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     3.2.3 once this Agreement is duly executed by both parties, it will
          constitute a legal, valid and binding agreement of the Assignee and is
          enforceable against it in accordance with its terms.

4.   Effective Date and Term

     This Agreement is duly executed by their authorized representatives as of
     the date first set forth above and shall be effective simultaneously.

5.   Settlement of Disputes

     The parties shall strive to settle any dispute arising from the
     interpretation or performance through friendly consultation. In case no
     settlement can be reached through consultation within 30 days after one
     party asks for consultation, each party can submit such matter to China
     International Economic and Trade Arbitration Commission (the "CIETAC"). The
     arbitration shall follow the current rules of CIETAC, and the arbitration
     proceedings shall be conducted in Chinese and shall take place in Beijing.
     The arbitration award shall be final and binding upon the parties and shall
     be enforceable in accordance with its terms.

6.   Applicable Law

     The validity, interpretation and implementation of this Agreement shall be
     governed by the laws of the PRC.

7.   Amendment and Supplement

     Any amendment and supplement of this Agreement shall come into force only
     after a written agreement is signed by both parties. The amendment and
     supplement duly executed by both parties shall form a part of this
     Agreement and shall have the same legal effect as this Agreement.

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8.   Severability

     Any provision of this Agreement which is invalid or unenforceable in a
     jurisdiction due to conflict of law shall, in that jurisdiction, be
     ineffective to the extent of such invalidity or unenforceability, without
     affecting in any way the remaining provisions hereof in such jurisdiction
     or rendering that any other provision of this Agreement invalid or
     unenforceable in any other jurisdiction.

9.   Appendix

     The Appendix referred to in this Agreement are an integral part of this
     Agreement and have the same legal effect as this Agreement.

10.  Miscellaneous

     This Agreement shall be executed in Chinese in duplicate.

     IN WITNESS THEREOF the parties hereto have caused this Agreement to be duly
executed on their behalf by a duly authorized representative as of the date
first set forth above.

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     Domain Name Assignment Agreement

     (No Text on This Page)


By: /s/ Wei Hongbin
    ----------------------------
The Assignor : Beijing Cool Young Information Technology Co., Ltd.

Representative: Wei Hongbin


By: /s/ Xiang Songzuo
    ----------------------------
The Assignee: Hurray! Times Communications (Beijing) Ltd.

Representative: Xiang Songzuo

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                                   Appendix 1

                              List of Domain Names

1. hawa.cn
----------
2. www.coolyoung.com.cn
-----------------------

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Source: OneCLE Business Contracts.