My friend Jim and I met in the fourth grade and have been good friends ever since. We were just playmates until one night the summer of our seventh grade year. We had always talked about sex and the hot girls in the class, often trying to get them over to the house. Jim's bedroom was in the opposite end of the house from his parents and both of his brothers were out for the night, so we had that end of the house all to ourselves.
As we were winding down for the night, for some reason Jim had a contact box (a box with a light for exposing film on photo paper). We turned off the lights and the light from the contact box was just enough that to see about four feet all around it. We started talking about jacking off which we both admitted we had done, not knowing that neither one of us had masturbated to orgasm yet. The more we talked the more comfortable we got with each other and both decided to take off our underwear (that is all we were wearing).
As we checked out each others cock we each started jacking off. After about three minutes I took a hold of his cock and started jerking him off and he did the same for me. To my astonishment and his, in about two minutes he started to shake a little and came all over my hand. As soon as the cum hit my hand I came too. We both did not know what had just happened but we started laughing and saying things like 'can you believe that!'. The following day we could not wait to get alone again and did the same thing all over again. This was my first ejaculation (and his) and we both have never forgotten it.