  We propose an integrable system of coupled nonlinear Schrodinger equations
with cubic-quintic terms describing the effects of quintic nonlinearity on the
ultra-short optical soliton pulse propagation in non-Kerr media. Lax pair,
conserved quantities and exact soliton solutions for the proposed integrable
model are given. Explicit form of two-solitons are used to study soliton
interaction showing many intriguing features including inelastic (shape
changing) scattering. Another novel system of coupled equations with
fifth-degree nonlinearity is derived, which represents vector generalization of
the known chiral-soliton bearing system.
