July 2002 12 (Friday), 4: 00 pm to 5: 30 pm.

Foreign Trade Building/meeting room on floor 0/0 of 10

Mr. Robert White, Chairman

What:

Last meeting (i.e. June14th regular meeting) (the minutes have been sent to all board members in advance).

Huang, the financial manager, reported the financial situation of the second quarter to the board of directors (the written summary was distributed to all directors for review and signature).

Executive Chairman Li Bin made a report on behalf of the Board of Directors and announced some personnel changes, including: a) accepting the resignation of Deputy General Manager Zhang Xiongfei;

Remove Hong from the position of sales manager.

Joseph submitted a proposal to the board of directors, requesting an additional $6,000 for on-the-job training of staff.

Voting on the motion on marriage: 7 votes in favor, 1 against, 1 abstained, and agreed.

Others: The Director-General's report is attached to an explanation letter sent to local clubs.

The next board meeting is scheduled for Friday, August 65438, 2006. If there is any change, there will be no notice.