EXHIBIT
4.03                              Stock Option


                             IEG ENERGY GROUP, INC.
                             STOCK OPTION AGREEMENT
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1.   All previous agreements to grant options or to purchase stock of IEG Energy
     Group, Inc. ("IEG") between the parties hereto are hereby voided and are of
     no  legal force or effect; including a signed option dated in error October
     30,  2004.

2.   In  consideration  of  One Dollar (US$1.00), the receipt of which is hereby
     acknowledged,  IEG  hereby grants to HAL Energy International, Inc. ("HAL")
     of  626  Johnson  Lane, Sugar Land, Texas 77479, an immediately exercisable
     Option  (the "Option") to purchase 3,000,000 shares of Class A common stock
     of  IEG.  This  Option  can  be exercised only once and with the payment of
     US$1,000,000.00  by  HAL  to  IEG.

3.   The  initial exercise price of the Option is US$0.333333 per share of Class
     A  common  stock  of  IEG.

4.   If HAL fails to exercise the Option by 12:01 A.M. CST on December 15, 2003,
     then  the  exercise  price  of  the  Option shall automatically and without
     notice  change  to  the  greater  of:

     (i)  US$0.333333 per share,

or,

     (ii) the  highest  price of  new issue Class A common stock of IEG that IEG
sells  to  a  bona  fide  investor during the period beginning 12:01 A.M. CST on
November 12, 2003 and ending at the time that HAL exercises the Option.

5.   This Option shall automatically and without notice expire at 11:59 P.M. CST
     on  January  13,  2004.

6.   This  Stock  Option  Agreement is deemed issued by IEG on October 30, 2003.


                      [Signatures Appear on the Next Page]



AGREED:


IEG ENERGY GROUP, INC.

Date:  November 11, 2003          By:   /s/  James D. Jeffrey

                                        James D. Jeffrey, Chairman & CEO


Date:  November 11, 2003          By:   /s/  Steven S. Maxie

                                        Steven S. Maxie, President


AGREED:


HAL ENERGY INTERNATIONAL, INC.

Date:  November 11, 2003          By:   /s/  Shawn  Ai

                                        Shawn Ai, President