MUTUAL RECISSION AGREEMENT

MUTUAL RECISSION AGREEMENT

The parties hereto agree and acknowledge that, effective as of September 30, 2003, a rescission in full occurred in respect of all of the transactions (the “Transactions”) contemplated by the Reorganization Agreement dated August 11, 2003 (the “Reorganization Agreement”) between and among The Saint ▇▇▇▇▇ Company, a Delaware corporation (the “Delaware Corporation” that, under certain circumstances might have become a successor to a North Carolina corporation of the same name), and the four persons whose names were set forth on Exhibit A of the Reorganization Agreement, which Transactions, as contemplated by the Reorganization Agreement, would have resulted in the acquisition by the Delaware Corporation of all of the issued and outstanding capital stock of Funet Radio & Communications Corp., a divided company of the Republic of China (Taiwan), in exchange for 7,000,000 shares of restricted common stock of the Delaware Corporation.  In connection with the contemplated Transactions, the following Delaware Corporation share certificates were issued:

Name		Number of Delaware Corporation Shares
▇▇▇▇-▇▇▇▇▇ ▇▇▇▇▇			1,750,000
▇▇▇▇▇-▇▇▇▇ ▇▇▇▇			1,750,000
Tun-▇▇▇▇▇ ▇▇▇▇			1,750,000
▇▇▇▇-▇▇▇ ▇▇			1,750,000

This Mutual Rescission Agreement may be executed in one or more counterparts.

▇▇▇▇-▇▇▇▇▇ ▇▇▇▇▇		Rescission of the Transactions, and of the issuance of 1,750,000 Delaware Corporation Shares; acknowledgement of the destruction of such share certificate or its return to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇; and resignation of all Officer and/or Director appointments
▇▇▇▇▇-▇▇▇▇ Yang		Rescission of the Transactions and of the issuance of 1,750,000 Delaware Corporation Shares; acknowledgement of the destruction of such share certificate or its return to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇; and resignation of all Officer and/or Director appointments
Tun-▇▇▇▇▇ ▇▇▇▇		Recession of the Transactions and of the issuance of 1,750,000 Delaware Corporation Shares; acknowledgement of the destruction of such share certificate or its return to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇; and resignation of all Officer and/or Director appointments
▇▇▇▇-▇▇▇ ▇▇		Rescission of the Transactions and of the issuance of 1,750,000 Delaware Corporation Shares; acknowledgement of the destruction of such share certificate or its return to ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇; and resignation of all Officer and/or Director appointments
▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, authorized signatory		Rescission of the Transactions and of the issuance of 7,000,000 Delaware Corporation Shares; and acceptance of the resignations of all Officer and/or Director appointments by such persons

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