NU SKIN ENTERPRISES INC
SHANGHAI LEASE TRANSFER
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<TYPE>EX-10.5
<SEQUENCE>6
<FILENAME>ex10-5.htm
<DESCRIPTION>SHANGHAI LEASE TRANSFER
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<TITLE>exhibit 10.5 NSE 2Q FORM 10-Q Shanghai Lease Transfer</TITLE>
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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>THIS IS AN ENGLISH
TRANSLATION FROM <BR>THE ORIGINAL CHINESE LANGUAGE DOCUMENT </FONT></H1>
<BR><BR><BR><BR><BR>



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<H1 ALIGN=CENTER><FONT FACE="Times New Roman, Times, Serif" SIZE=3>Agreement for the
Transfer/Assignment of Lease Contract </FONT></H1>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Party A: Shanghai Jinqiao
Export Processing District (South District) Development &amp; Construction Company Limited <BR>
Party B: Nu Skin Asia Investment, Inc. <BR>
Party C: Pharmanex LLC </FONT></P>

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<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE="2">Re: <U>Jianqiao Factory</U> </FONT> </P>

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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Clause 1:</FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
With effect from 1 April 2004, Party B will transfer all the rights and obligations to
Party C under to the lease contract. Party C agreed the said transfer. Party A agreed the
transfer of rights and obligations related to the lease contract between Party B and Party
C. </FONT></TD>
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<BR>

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<TD WIDTH=10%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Clause  3:</FONT></TD>
<TD><FONT FACE="Times New Roman, Times, Serif" SIZE=2>&nbsp; </FONT></TD>
<TD WIDTH=90%><FONT FACE="Times New Roman, Times, Serif" SIZE=2>
Party A agreed that the contract terms which have already been performed by Party B
will be deemed to be done by Party C. Party A agreed the deposit of RMB197075.66 which has
already been paid by Party B will be deemed to be the deposit paid by Party C to Party A.
This will be returned to Party C by Party A once the lease contract is terminated. </FONT></TD>
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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Signed by all parties on 1 April,
2004 </FONT></P>

<P ALIGN=LEFT><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Party A:&nbsp;&nbsp;&nbsp;&nbsp;Shanghai Jin
Qiao Export Processing Zone </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Legal representative or authorized
representative:<BR> <U>/s/&nbsp;&nbsp;Zhang Guanming</U><BR>
Zhang Guanming</FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Party B:&nbsp;&nbsp;&nbsp;&nbsp;Nu Skin Asia
Investment, Inc. </FONT></P>

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<P><FONT FACE="Times New Roman, Times, Serif" SIZE=2>Legal representative or authorized representative:<BR>
<U>/s/&nbsp;&nbsp;D. Matthew Dorny</U><BR>
D. Matthew Dorny </FONT></P>




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