MAXIMUM CREDIT GUARANTY
EXHIBIT
10.10
Obligee:
Agricultural Bank of China (Chongwen Subbranch, Beijing)
Debtor:
Duoyuan Digital Printing Technology Industry (China) Co., Ltd.
Obligor:
Hunan Duoyuan Printing Machinery Co. Ltd.
The
Agreement No. is (2004) 120.
Obligor
agrees to guarantee the full payment of principal, interest, expenses and other
amounts owed by the Debtor to Obligee for a borrowing amount of no more than
RMB54,150,000. The term of this Guaranty is from July 30, 2004 to July 30,
2006. The Debtor may borrow one or more loans from Obligee during the term
of this Guaranty without providing any additional guaranty to each
loan.