Beijing BBEF Electronics Co. Ltd. convened 1^st shareholder meeting

Dec. 10, 2000----The first shareholder meeting of Beijing BBEF Electronics Co. Ltd. was held in the new building of BBEF on December 10, 2001. Mr. LI Yi-He, representative of shareholder China Huarong Assets Management Company and Mr. BAO Yu-Tong, representative of another shareholder Beijing Electronics Co., Ltd. attended this meeting. 13 another concerned persons, lower and accountant also attended as nonvoting delegates.

After a sufficient discussion, the meeting affirmed consistently the audit report and the report to Beijing Municipal Financial Bureau concerning the audit. Voting at the meeting passed constitution of the Company. The meeting elected 9 directors and 5 supervisors of the Company. Finally, the decision of the meeting was signed.

At the followed joint meeting of directors and supervisors, Mr. CHEN Ji-Gui was elected to be Board Chairman, Mr. LI Yi-He was elected to be Vice Board Chairman, Mr. FU Qi was elected to be Chairman of Supervising Committee and Mr. HAN Guang was elected to be President of the Company.