Four meetings in 2003 promote development of LYC Railway Bearing Co.

1. Luoyang Railway Bearing Co. held their first supplier meeting During February 20 -- 23, representatives from 29 enterprises all over China took part in the supplier meeting held by Luoyang Bearing Supply and Marketing Co. and Luoyang Railway Bearing Co.. The leaders from Luoyang Bearing Group awarded honor certificate and prizes to the excellent suppliers and put forward new requirements in the 2003 cooperation. The meeting made the product chain harmonious between all its parts and prepared for the operating aim in 2003. 2. LYC Railway Bearing Co. held the first stockholder and director meeting in 2003 The meeting was held on March 6, 2003, which was chaired by Mr. Zhao Haidong, the general manager. There are six stockholders, that is, Luoyang Bearing Group Co., Ltd, Shanghai Jiaoda Hi-tech Co., Ltd, Shanghai Fifth Steel Co., Ltd (Baoshan Steel Group), Dabian Yongjun Auto Redirector Manufacturing Co., Ltd, Zhengzhou Railway Economy & Technology Development Co., Ltd and Xuchang Sanchang Bearing Manufacturing (Group) Co., Ltd took part in the meeting. The present representatives passed ¡°The Profit Distribution Act of LYC Railway Co.¡± and ¡°The Asset Reform Act of LYC Railway Co.¡± by raising hands. According to the rules of the Company Constitution, the meeting passed the president candidates, prize act in 2001 and 2002, operating aim in 2003 and general manager group act after the present directors'discussing. 3. The LYC Railway Bearing Co. took part in the Exhibition of Shenyang Subway and City Light Railway and Train Equipment. During March 15 ¨C 17, 2003, the Exhibition of Shenyang International Subway, Light Railway and Modern Railway Equipment was held in Shenyang Industry Exhibition Hall. The newly-founded LYC Railway Bearing Co., Ltd took part in the exhibition and during the exhibition they showed their new subway bearings -- NF2226X3TN/P59 and NJP2226X3TN/P59. 4. LYC Railway Bearing Co. held staff meeting. The staff meeting was held on March 20, 2003. Mr. Su Shige, the general manager, announced the new leaders¡¯ name and the contracts. Mr. Su Shige talked about his idea about products, market system and mechanism creation and put forward sixteen-character policy -- promoting the beneficial and abolishing the harmful, innovative operating, developing enterprise, creating value.