2004 OO 1 59

03 03 06 08 09 14 19 59 2 59

2004 : FUYAO GROUP GLASS INDUSTRIES CO.,LTD FYG 0591-85383777 0591-853836660591-85382719 danych@fuyaogroup.com 0591-85382725 3 59

0591-853836660591-85382719 chenxiangming@fuyaogroup.com 350301 http://www.fuyaogroup.com fuyao@fuyaogroup.com http://www.sse.com.cn 600660 1992 6 21 2004 7 23 400001 350181611300758 202 11 ()2004 2004 6 30 2003 12 31 1,452,500,642 1,110,468,139 30.80 1,523,249,661 968,263,017 57.32 4,373,665,156 3,506,692,421 24.72 ( 1,604,415,495 1,555,429,404 3.15 ) 4 59

1.60 3.11-48.55 1.53 2.98-48.66 2004 1-6 2003 1-6 199,482,116 141,287,704 41.19 190,240,332 141,522,705 34.42 0.20 0.31-35.48 % 12.43% 17.34% -28.32 343,931,316 168,386,196 104.25 2004 100,149.3166 50074.6583 45,239.4567 () ( : ) -3,819,869 603,710-7,656,528 1,630,903-9,241,784 () (%) / 375,662,357 23.4% 23.4% 0.38 0.38 206,058,759 12.8% 12.8% 0.21 0.21 199,482,116 12.4% 12.4% 0.20 0.20 190,240,332 11.9% 11.9% 0.19 0.19 5 59

(+ ) 1190,756,072-66,764,625 123,991,447 - - 190,756,072 381,512,144 - - - - - - - - - - - - - - - - 190,756,072-66,764,625 123,991,447 - - 190,756,072 381,512,144 - - - - - - - - 2117,148,456-41,001,960 76,146,496 - - 117,148,456 234,296,912 3 - - - - - - - - 4 - - - - - - - - 307,904,528-107,766,585 200,137,943 - - 307,904,528 615,809,056 1 192,842,055-67,494,719 125,347,336 - - 192,842,055 385,684,110 2- - - - - - - - 3- - - - - - - - 4 - - - - - - - - 192,842,055-67,494,719 125,347,336 - - 192,842,055 385,684,110 500,746,583-175,261,304 325,485,279 - - 500,746,583 1,001,493,166 6,803 2004 6 30 : +/- (%) 6 59

1 225,244,866 +112,622,433 22.49-2 194,701,484 +97,350,742 19.44 4,950 3 156,267,278 +78,133,639 15.60-4 UBS 21,890,564 +17,643,084 2.19 LIMITED 5 21,313,174 +10,656,587 2.13-6 13,213,440 +6,606,720 1.32 1,321.344 7 10,473,296 +5,876,626 1.05 8 9,278,720 +9,278,720 0.93 9 8,465,748 +4,569,210 0.85 10 8,176,492 +4,088,246 0.82 1 2 2004 6 30 : (A ( ) BH (%) ) 1 UBS LIMITED 21,890,564 2.19 A 2 10,473,296 1.05 A 9,278,720 3 0.93 A 4 8,465,748 0.85 A 5 8,176,492 0.82 A 6 7,601,924 0.76 A 7 7,224,564 0.72 A 8 6,807,694 0.68 A 9 6,356,540 0.63 A 10 5,834,620 0.58 A : 1 7 59

2 3 59 2002.9-2005.9 66,032 132,064 65 2002.9-2005.9 173,021 346,042 47 2002.9-2005.9-22,000 35 2002.9-2005.9 - - - 30 2002.9-2005.9 - - - 35 2003.2-2005.9 - - - 49 2002.9-2005.9 - - - 55 2002.9-2005.9 - - - 56 2002.9-2005.9 - - - 32 2002.9-2005.9 - - - 68 2002.9-2005.9 4,618 9,236 37 2002.9-2005.9 - - - 32 2004.3-2005.9 - - - 57 2003.9-2005.9 - - - 53 2002.9-2005.9 - - - 47 2002.9-2005.9-14,108 39 2002.9-2005.9 - - - 2004 3 22, 2004 4 25 2003 8 59

2003 2004 4 27 1,, 2 108,059.18 44.10% 19,948.21 41.19% : ( ) (%) ( ) (%) ( ) (%) 91,023.35 84.23 56,175.43 79.69 34,847.92 92.76 14,972.56 13.86 9,791.68 13.89 5,180.88 13.79 11,494.20 10.63 6,912.47 9.81 4,581.73 12.19 64,556.59 59.74 39,471.28 55.99 25,085.31 66.78 17,035.83 15.77 14,317.51 20.31 2,718.32 7.24 17,035.83 15.77 14,317.51 20.31 2,718.32 7.24 108,059.18 100.00 70,492.94 100.00 37,566.24 100.00 9 59

() 1,080,591,761 749,874,333 44.10% 375,662,357 289,750,020 29.65% 199,482,116 141,287,704 41.19% 86,206,257 25,015,743 444.61% 1 44.10% 91,023 17,036 32%188% 2 29.65% 3 41.19% 4, 104.25% 0.34 1.7 () 4,373,665,156 3,506,692,421 24.72% 1,604,415,495 1,555,429,404 3.15% 1 24.72% 1 61,819 36,511 9,018 2 17,550 10 59

3 6,725 62 56 2 3.15% () 1 OEM 2 1 2 3 () 2003 8 12 560,438,422 70,966,394 533,777,772 95.24% 26759,029 94,861,916 ( ) 560,438,422 70,966,394 533,777,772 ( ) 186,750,000 186,750,000 5,339.50 PUR 198,000,000 100,844,667 2,250.54 PVC 169,740,000 142,980,971 987.36 11 59

69,000,000 53,098,379 908.79 623,490,000 483,674,017 9,486.19-2002,,,, 2003 56,043.8422,, 18,675 16,974 6,900 5,300 15,094.8422, PUR PVC 2004 3 22 2004 4 25 2003 2004 3 24 2004 4 27 www.sse.com.cn PUR PVC,,, 2003 12 31, PUR PVC, 10,084.4667, 5,010.3755,,5,010.3755, 1 ( ( ) ), 41,499.20, 6,434.40, 5,010.3755, 8.94% 12 59

() 1 GENCORP INC., dba GDX AUTOMOTIVE ( ) 2004 3 22 GENCORP INC., dba GDX AUTOMOTIVE ( ) 365 178.85, 49% GENCORP INC., dba GDX AUTOMOTIVE 186.15, 51% 2004 3 24 2 MEADLAND LIMITED ( ) 2004 3 22 MEADLAND LIMITED ( ) 1,200 900 75% MEADLAND LIMITED 300 25% 2004 3 24 3 ( ) 1,000 2004 3 22, ( ) 1,000 750, 75%, ( ) 250, 25%, 1,000 2,000 2004 3 24 13 59

4 3, 600 2004 3 22 3, 600 2004 3 24 () 2003 2004 4 25 2003 2003 500,746,583 10 3.00 10 3.50 () 2003 2004 4 25 2003 2003 500,746,583, 10 6.50 () 2004 6 3 2003 2004 6 8 2004 6 9 2004 6 15 2004 2004 5 7, ( BILLING CODE:3510-DS-P), 2001 9 2003 3 11.80% 14 59

0.13%( 0.5% ) 0.5%, 2001 9 2003 3 () 14,589,993 () 5,405,669 () ( ) 14,558,371 () () 1 2 ( ) 2003.07.21 22,000,000 2003.07.21-2004.07.20 2002.12.30 150,000,000 2002.12.30-2005.12.29 2003.09.29 USD 1,000,000 2003.09.29-2004.09.28 2003.12.10 USD 800,000 2003.12.10-2004.12.09 2004.01.08 USD 500,000 2004.01.08-2005.01.07 2004.02.18 USD 3,000,000 2004.02.18-2005.02.17 2003.10.21 10,000,000 2003.10.21-2006.10.20 15 59

2003.05.30 30,000,000 2003.12.02 25,000,000 2004.03.18 5,000,000 2004.06.09 10,000,000 2004.06.18 2,000,000 ( ) 2003.07.25 20,000,000 ( ) 2004.02.26 USD 1,000,000 ( ) 2003.02.27 10,000,000 ( ) 2003.04.06 20,000,000 2003.11.12 47,000,000 2004.02.06 14,000,000 2003.11.12 45,000,000 2004.06.29 14,000,000 ( )2004.06.07 10,000,000 2004.04.12 USD 70,200 2004.04.15 USD 160,020 2004.04.28 USD 437,784 2004 05 20 USD 170,000 2004.06.01 USD 520,000 2003.05.30-2006.05.29 2003.12.02-2006.12.01 2004.03.18-2007.03.17 2004.06.09-2007.06.08 2004.06.18-2007.06.17 2003.07.25-2004.07.20 2004.02.26-2005.02.26 2003.02.27-2005.02.27 2003.04.06-2006.04.06 2003.11.17-2004.11.12 2004.02.06-2006.02.06 2003.11.17-2006.11.12 2004.06.29-2006.11.13 2004.06.07-2005.06.07 2004.04.12-2005.04.12 2004.04.15-2005.04.12 2004.04.28-2005.04.28 2004.05.20-2005.05.20 2004.06.01-2005.06.01 497,382,236 497,382,236 - - 31.00% 497,382,236 16 59

() [2003]56 2004 50% OO 100 49,738.22 5% 2004 2004 2004 95 2002 2004 3 24 2003 2003 17 59

2930 3334 2930 www.sse.com.cn 2004 4 17 2003 A 72 www.sse.com.cn 2004 4 27 2004 2003 29 31 37 www.sse.com.cn 2004 5 11 25 4 40 www.sse.com.cn 2004 6 3 2003 24 4 25 www.sse.com.cn 18 59

( ) (2004)1660 ( ) ( )2004 6 30 2004 1 1 2004 6 30 2004 6 30 2004 1 1 2004 6 30 2004 8 9 19 59

2004 6 30 2004630 20031231 ( -1) 257,408,498 101,473,996 222,143,354 175,452,510 - - - - ( -2) 51,926,892 2,367,000 37,638,690 7,440,796-99,763,100 - - - - - - ( -3-1) 367,803,398 401,436,284 300,552,741 316,512,720 ( -4-1) 30,012,474 524,401,896 17,887,022 541,525,114 ( -5) 67,210,093 26,113,206 29,747,189 9,770,132 - - - - ( -6) 665,756,335 140,752,461 490,253,211 129,761,540 ( -7) 12,382,952 2,570,694 12,245,932 2,429,868 - - - - - - - - 1,452,500,642 1,298,878,637 1,110,468,139 1,182,892,680 ( -8-2) 43,721,839 1,504,611,912 36,355,199 1,330,526,687 - - - - 43,721,839 1,504,611,912 36,355,199 1,330,526,687 33,252,065-36,355,199 2,277,912,568 367,136,836 2,144,709,894 343,268,639 (623,379,925) (161,274,983) (537,975,400) (155,251,368) ( -9) 1,654,532,643 205,861,853 1,606,734,494 188,017,271 (9,401,256) - (13,174,000) - 1,645,131,387 205,861,853 1,593,560,494 188,017,271 657,503-461,467 - ( -10) 1,041,916,986 449,005,267 556,927,487 354,211,295 - - - - 2,687,705,876 654,867,120 2,150,949,448 542,228,566 ( -11) 130,365,318 10,868,177 158,753,831 41,226,054 ( -12) 59,371,481 4,446,041 50,165,804 7,679,351 - - - - 189,736,799 15,314,218 208,919,635 48,905,405 - - - - 4,373,665,156 3,473,671,887 3,506,692,421 3,104,553,338 20 59

2004 6 30 2004630 20031231 ( -13) 885,627,236 485,623,320 662,116,732 271,042,912 ( -14) 245,293,684 227,018,566 149,775,258 140,154,775 ( -15) 218,427,971 266,298,430 121,213,407 457,201,246 ( -16) 13,903,783-8,020,556 5,071,020 6,400,859 748,884 6,898,947 591,267 - - - - 81,833,483 81,833,483 - - ( -18) 1,429,598 (22,034,580) (27,836,409) (28,209,383) - - - - ( -17) 30,483,444 30,693,233 22,154,544 56,981,762 ( -19) 29,849,603 6,075,056 25,919,982 8,290,335 - - - - ( 10,000,000 - - - -20) - - - - 1,523,249,661 1,076,256,392 968,263,017 911,123,934 ( -21) 1,246,000,000 793,000,000 983,000,000 638,000,000 - - - - - - - - - - - - - - - - 1,246,000,000 793,000,000 983,000,000 638,000,000 - - - - 2,769,249,661 1,869,256,392 1,951,263,017 1,549,123,934 - - - - -22 1,001,493,166 1,001,493,166 500,746,583 500,746,583-23 189,175,067 189,175,067 514,656,543 514,656,543-24 204,278,080 163,246,770 204,278,080 163,246,770 59,784,269 59,784,269 59,784,269 59,784,269-25 210,154,105 251,185,415 336,157,268 377,188,578 (684,923) (684,923) (409,070) (409,070) 1,604,415,495 1,604,415,495 1,555,429,404 1,555,429,404 4,373,665,156 3,473,671,887 3,506,692,421 3,104,553,338 21 59

2004 16 20041-6 20031-6 -261,080,591,761 499,123,752 749,874,333 470,262,199-3 -26 (704,929,404) (458,281,209) (460,124,313) (395,460,944) -3 - - - - 375,662,357 40,842,543 289,750,020 74,801,255-27 6,930,788 1,965,266 4,636,598 523,788 : (83,290,946) (33,888,148) (68,903,353) (38,172,702) (50,216,334) (20,792,516) (39,363,206) (18,884,509) -28 (43,027,106) (22,338,683) (32,691,214) (20,160,869) 206,058,759 (34,211,538) 153,428,845 (1,893,037) / -29 (2,316,256) 233,818,145 (3,103,134) 143,597,926-4 - - - - 3,819,869 219,823 449,467 118,754-30 6,839,390 (344,314) (725,939) (535,939) 214,401,762 199,482,116 150,049,239 141,287,704 (14,919,646) - (8,761,535) - - - - - 199,482,116 199,482,116 141,287,704 141,287,704 20041-6 20031-6 1 - - - - 2 - - - - 3 - - - - 4 - - - - 5 - - - - 6 - - - - 22 59

2004 16 200416 2003 1-6 199,482,116 199,482,116 141,287,704 141,287,704 336,157,268 377,188,578 149,255,227 172,225,638 - - - - 535,639,384 576,670,694 290,542,931 313,513,342 - - - - - - - - - - - - - - - - 535,639,384 576,670,694 290,542,931 313,513,342 - - - - - - - - -150,223,975-150,223,975-67,859,185-67,859,185-175,261,304-175,261,304 - - 210,154,105 251,185,415 222,683,746 245,654,157 23 59

: 2004 1-6 : 1,110,905,011 493,988,503 26,971,456 23,492,716 42,617,916 40,364,976 1,180,494,383 557,846,195 (635,131,338) (414,831,065) (85,708,532) (13,551,715) (108,660,072) (13,203,278) (7,063,125) (900,774) (836,563,067) (442,486,832) 343,931,316 115,359,363 - - - - 30,430,000 30,430,000 - - 30,430,000 30,430,000 (672,250,761) (151,299,741) (4,966,320) (297,511,543) - - (677,217,081) (448,811,284) (646,787,081) (418,381,284) - - - - 999,063,749 708,113,653 - - 999,063,749 708,113,653 (502,553,245) (338,533,245) (107,448,482) (88,795,501) - - - - : - - (610,001,727) (427,328,746) 389,062,022 280,784,907 - - 86,206,257 (22,237,014) 24 59

: 20041-6 : 1 199,482,116 199,482,116 - - (4,825,489) 2,066,830 89,827,598 9,877,191 2,541,072 562,818 17,376,200 5,073,678 (137,020) (140,826) 3,929,621 (2,215,279) (845,657) 20,159 39,057,990 20,405,009 2,316,256 (233,818,145) (175,503,124) (10,990,921) ( ) (64,729,233) (38,694,954) ( ) 235,440,986 163,731,687 343,931,316 115,359,363 2 - - - - - - 3-1 254,603,211 101,473,996 (168,396,954) (123,711,010) 86,206,257 (22,237,014) 25 59

() ( ) 1991 1992 6 21 ( ) A ( A )1993 2003 12 31 500,746,583 2004 6 10 3.5 175,261,304 10 6.5 325,485,279 1,001,493,166 () 22 ( ) () 2003 7 1 2003 7 1 ()25 () (1) (2) 1 1 12 31 (3) 26 59

(4) (5) (6) (7) 27 59

(8) (a) 1 5 1-2 30% 2-3 50% 3 100% (b) (c) (9) 28 59

(10) 50% ( 50%) 50% (50%) 20% (20%)50% ( 50%) 20% 2003 3 17 10 2003 3 17 10 29 59

(11) 2001 1 1 1020 10% 4.5%9% 10 10% 9% 5 10% 18% 5 10% 18% / (12) 30 59

(13) 2001 1 1 10 (14) 1 ( 1 ) (15) 31 59

(16) (17) (18) (a) (b) (19) (20) (1995)11 32 59

(1) (a) 15% 15% ( ) (b),(c) 15% 7.5% ( ) (b),(c) 15% 7.5% ( ) (b),(c) 15% 7.5% ( ) ( ) (b),(d) 30% 7.5% ( ) (b), (e) 15% - ( ) ( ) (b),(g) 24% - ( ) ( ) (b),(d) 30% - ( ) (b),(d) 30% - ( ) ( ) (b),(f) 33% - ( ) (b),(f) 33% - ( ) (f) 33% - ( ) 17.5% 17.5% ( ) 17.5% 17.5% ( ) ( ) 17.5% 17.5% 33 59

( ) ( ) 17.5% 17.5% Meadland Limited ( Meadland) 17.5% 17.5% ( ) 37.3% 37.3% (a) [1992]164 [1995] 076 15% (200315%) (b) ( ) (c) 15%(200315%)2000 7.5% (20037.5%)2002 7.5% (20030%) (d) 30% (200330%) [2000]33 2001 2010 15% (200315%) 2001 12 31 2002 7.5% (20030%) 2004 (e) 15%(2003 15%) 34 59

(f) 33% 2004 6 30 (g) 24% (200324%)2004 (2) 17% 13% () 100,000-100% 36,000,000-100% 100,000-100% 34,000,000 75% 25% 250,500,000 75% 25% 4,260,000-100% 43,680,000 100% - Meadland 8,200,000-100% 15,000,000 75% 25% 260,000,000 75% 25% 80,000,000 75% 25% 30,000,000 75% 25% 100,000,000 75% 25% 40,000,000 75% 25% 9,900,000 75% 25% 10,000,000-100% 12,000,000 75% 25% 3,650,000 49% - ()2 35 59

( ) ( ) GDX ( ) ( ) GDX 2004 6 30 2004 6 30, 10% 10% 2003 2004 6 30 () 1 2004 6 30 2003 12 31 134,412 57,362-222,172,196 159,714,639-32,296,603 60,316,453 254,468,799 220,031,092-2,805,287 2,054,900 257,408,498 222,143,354 2004 6 30 4,880,661 8.2766 40,395,279 9,013,013 10.0738 90,795,290 18,150 1.0609 19,255 131,209,824 2004 6 30 ( 2003 12 31 51,691,500 ) 36 59

2004 6 30 2,805,287 ( 2003 12 31 2,054,900 ) 2004 6 30 257,408,498 - (2,805,287) 2004 6 30 254,603,211 2003 12 31 (168,396,954) 86,206,257 2 2004 6 30 2003 12 31 117,000 3,917,678 51,809,892 33,721,012 51,926,892 37,638,690 2004 6 30 272,838,181 ( 2003 12 31 256,718,739 ) 167,031,794 ( 2003 12 31 133,154,584 ) ()14 2004 6 30 5% (5%) 2003 12 31 3 2004 6 30 2003 12 31 379,845,489 309,763,792 - - (12,042,091) (9,211,051) 367,803,398 300,552,741 37 59

2004 6 30 2003 12 31 % % - 1 364,800,217 96 (4,876,152) 303,301,108 98 (5,126,179) 1-2 9,519,952 3 (2,855,986) 3,215,144 1 (979,621) 2-3 2,430,735 - (1,215,368) 284,578 - (142,289) 3 3,094,585 1 (3,094,585) 2,962,962 1 (2,962,962) 379,845,489 100 (12,042,091) 309,763,792 100 (9,211,051) 2004 6 30 126,057,361 33% ( 2003 12 31 112,642,606 36%) 2004 6 30 5% (5%) ( 2003 12 31 ) 4 2004 6 30 2003 12 31 30,184,708 18,170,296 (172,234) (283,274) 30,012,474 17,887,022 2004 6 30 2003 12 31 % % - 1 29,558,810 98 (37,750) 17,701,128 97 (140,731) 1-2 188,834 1-316,625 2-2-3 302,580 1-10,000 - - 3 134,484 - (134,484) 142,543 1 (142,543) 30,184,708 100 (172,234) 18,170,296 100 (283,274) 2004 6 30 24,974,794 83% ( 2003 12 31 12,962,090 71%) 2004 6 30 5% (5%) ( 2003 12 31 ) 5 2004 6 30 2003 12 31 (%) %) 1 66,611,293 99 28,512,119 96 38 59

12 598,800 1 1,235,070 4 23 - - - - 3 - - - - 67,210,093 100 29,747,189 100 2004 6 30 40,550,310 60% ( 2003 12 31 7,000,096 24%) 2004 6 30 5% (5%) ( 2003 12 31 ) 6 2004 6 30 2003 12 31 334,160,914 265,779,870 14,457,099 14,096,326 313,849,034 205,407,615 3,289,288 4,969,400 665,756,335 490,253,211 2004 6 30 ( 2003 12 31 ) 7 2003 2004 12 31 6 30 4,040,643 1,769,053 (2,404,609) 3,405,087 3,754,928 5,966,508 (4,015,670) 5,705,766 4,450,361 5,743,237 (6,921,499) 3,272,099 12,245,932 13,478,798 (13,341,778) 12,382,952 8 2003 12 31 2004 6 30-10,469,774-10,469,774 36,355,199 - (3,103,134) 33,252,065 36,355,199 10,469,774 (3,103,134) 43,721,839 39 59

(1) 2003 2004 2003 2004 2003 2004 2003 2004 12 31 6 30 12 31 6 30 12 31 6 30 12 31 6 30 2004-2053 - 49% - 9,682,896-786,878 786,878-10,469,774 (2) 2004 1 1 2004 6 30 6,300,888 1999.6-2009.5 3,414,076 - (315,044) 3,099,032 Meadland 12,144,203 1999.6-2009.5 6,578,111 - (607,210) 5,970,901 44,298,719 2000.3-26,950,483 - (2,214,936) 24,735,547 2010.2 (681,126) 2002.8- (587,471) - 34,056 (553,415) 2012.7 62,062,684 36,355,199 - (3,103,134) 33,252,065 9-2004 1 1 733,601,372 1,268,187,437 57,048,418 85,872,667 2,144,709,894 14,772,118 29,019,443 8,554,500 19,270,970 71,617,031 53,093,311 28,377,906 926,793 2,609,754 85,007,764 49,203,298 (49,203,298) 298,238 (298,238) - (198,000) (12,510,487) (2,029,255) (8,684,379) (23,422,121) 2004 06 30 850,472,099 1,263,871,001 64,798,694 98,770,774 2,277,912,568-40 59

2004 1 1 (94,987,444) (367,885,491) (23,705,367) (51,397,098) (537,975,400) (18,148,197) (63,326,967) (3,977,622) (4,374,812) (89,827,598) (4,635,930) 4,635,930 (83,833) 83,833-6,683 2,789,628 1,591,462 35,300 4,423,073 2004 06 30 (117,764,888) (423,786,900) (26,175,360) (55,652,777) (623,379,925) - - 2004 1 1 (13,174,000) - - - (13,174,000) - - - - - 3,772,744 - - - 3,772,744 2004 06 30 (9,401,256) - - - (9,401,256) 2004 06 30 723,305,955 840,084,101 38,623,334 43,117,997 1,645,131,387 2004 1 1 625,439,928 900,301,946 33,343,051 34,475,569 1,593,560,494 1:1 ( ()-11) 2004 6 30 1:1 10 2003 12 31 2004 06 30 170,000,000 34,905,882 11,990,407 (20,957,291) - 25,938,998 289,000,000-25,112,743 - - 25,112,743 40,000,000 719,501 23,165,721 (798,707) - 23,086,515 95% 9% 93% 249,000,000 30,674,908 17,578,320 (21,705,471) - 26,547,757 100% 1,330,000,000 302,295,966 357,415,672 (58,631) - 659,653,007 50% 300,000,000 66,227,366 94,656,393 (4,466,155) (13,401) 156,404,203 10,000,000 7,981,349 269,705 (7,531,349) - 719,705 G5 14,866,326 8,157,464 4,866,326 (4,866,150) - 8,157,640 58% 83% 95% 55,844,667 7,604,020 1,913,475 (5,003,989) - 4,513,506 100% 41 59

5,792,047 1,304,313 2,942,047 (1,655,400) - 2,590,960 80,000,000 31,810,496 28,309,000 - - 60,119,496 93% 75% 111,900,000 61,140,866 1,378,991 (14,113,787) - 48,406,070 76% 4,105,356 513,056 (3,850,834) (101,192) 666,386-556,927,487 570,111,856 (85,007,764) (114,593) 1,041,916,986 2004 6 30 ( 2003 12 31 ) 2004 6 30 ( 2003 12 31 ) 11 2004 1 1 2004 6 30 176,182,096 (44,246,962) 163,419,038 - (30,000,000) (1,546,974) 131,872,064 33126 3,726,203 (3,475,082) 273,766 - - (22,645) 251,121 2 7,821,891 (5,219,379) 2,986,058 - - (383,546) 2,602,512 37 8,203,520 (3,965,945) 4,354,133 103,470 - (156,958) 4,300,645 13 ISO 9000 918,059 (684,292) 165,715 153,225 - (85,173) 233,767 14 1,707,675 (1,201,210) 729,121 123,120 - (345,776) 506,465 18 198,559,444 (58,792,870) 171,927,831 379,815 (30,000,000) (2,541,072) 139,766,574 (13,174,000) 3,772,744 (9,401,256) 158,753,831 379,815 (30,000,000) 1,231,672 130,365,318 ( ()-9) 12 11 2004 2004 06 30 - - 2,688,022 10,270,692-12,958,714 57,784,729 (30,023,829) 24,630,843 8,567,681 (5,437,624) 27,760,900-14 42 59

13,250,853 (13,250,853) 3,917,255 1,064,137 (4,981,392) - 11,809,104 (8,002,224) 4,066,650 886,658 (1,146,428) 3,806,880 11,647,355 (2,959,651) 7,227,343 3,007,588 (1,547,227) 8,687,704 29,326,493 (23,169,210) 7,635,691 2,785,121 (4,263,529) 6,157,283 123,818,534 (77,405,767) 50,165,804 26,581,877 (17,376,200) 59,371,481 12 14 14 2004 6 30 2004 6 30 13 2004 6 30 2003 12 31 165,359,084 254,282,560 (1) 720,268,152 407,834,172 (2) 885,627,236 662,116,732 2004 6 30 8,836,713 8.2766 73,137,939 (1) 2004 6 30 2004 1.69%5.31% (2003 1.39%4.78%) (2) 2004 6 30 1.64%5.04% (2003 1.64%4.78%) 14 2004 6 30 2003 12 31 50,000,000 29,000,000 195,293,684 120,775,258 245,293,684 149,775,258 2004 6 30 ( ()-2) 167,031,794 ( 2003 12 31 133,154,584 ) 43 59

2004 6 30 5% (5%) ( 2003 12 31 ) 15 (a) 2004 6 30 2003 12 31 (%) (%) - 1 217,295,245 100 120,170,983 99 1-2 712,726-1,042,424 1 2-3 420,000 - - - 3 - - - - 218,427,971 100 121,213,407 100 (b) 2004 6 30 5% (5%) ( 2003 12 31 ) 16 2004 6 30 5% (5%) ( 2003 12 31 ) 17 (a) 2004 6 30 2003 12 31 (%) (%) - 1 22,583,645 86 21,221,327 96 1-2 7,716,552 14 804,930 4 2-3 174,747-128,287-3 8,500 - - - 30,483,444 100 22,154,544 100 (b) 2004 6 30 2003 12 31 () () 15,742,976 52 5,570,828 25 5,850,000 19 5,850,000 27 44 59

8,890,468 29 10,733,716 48 30,483,444 100 22,154,544 100 2004 6 30 5% (5%) ( 2003 12 31 ) 18 2004 6 30 2003 12 31 10,741,456 7,767,707 (9,658,367) (35,815,025) 346,509 210,909 1,429,598 (27,836,409) (1) () 19 2004 6 30 2003 12 31 7,747,947 7,080,206 2,305,710 1,520,031 4,107,290 2,795,444 9,205,810 7,283,967 6,482,846 7,240,334 29,849,603 25,919,982 20 2004 6 30 2003 12 31 10,000,000-2004 6 30 4.94% 21 2004 6 30 2003 12 31 744,000,000 472,000,000 502,000,000 511,000,000 1,246,000,000 983,000,000 45 59

2004 6 30 4.94%(2003 4.94%) 2004 6 30 2004 4.94% (2003 4.94%) 22 2004 1 1 2004 6 30 1. 307,904,528 107,766,585 200,137,943 615,809,056 - - - - 117,148,456 41,001,960 76,146,496 234,296,912 190,756,072 66,764,625 123,991,447 381,512,144 - - - - 2. - - - - 3. - - - - 4. - - - - 307,904,528 107,766,585 200,137,943 615,809,056-1. 192,842,055 67,494,719 125,347,336 385,684,110 2.- - - - 3.- - - - 4. - - - - 192,842,055 67,494,719 125,347,336 385,684,110 500,746,583 175,261,304 325,485,279 1,001,493,166 2004 1 1 500,746,583 1 500,746,583 117,148,456 190,756,072 A 192,842,055 2004 3 22 4 13 2004 4 25 2003 10 3.5 46 59

175,261,304 175,261,304 10 6.5 325,485,279 325,485,279 2004 6 10 (2004)119 23 2004 1 1 2004 6 30 512,979,019 - (325,485,279) 187,493,740 1,367,706 3,803-1,371,509 309,818 - - 309,818 514,656,543 3,803 (325,485,279) 189,175,067 10 6.5 325,485,279 325,485,279 ()22 24 2004 1 1 144,493,811 59,784,269-204,278,080 - - - - - - - - 2004 6 30 144,493,811 59,784,269-204,278,080 (i) ( )10% 50% 25% (2003 ) (ii) ( )5%10% 47 59

(2003 ) (iii) (2003 ) (i) ( ) (ii) (2003 ) 25 2004 6 30 2003 12 31 336,157,268 81,396,042 - - 67,859,185 336,157,268 149,255,227 199,482,116 320,967,206 - (32,096,721) - (16,048,360) - (10,836,539) - (7,224,360) - (150,223,975) (67,859,185) (175,261,304) - 210,154,105 336,157,268 2003 7 1 48 59

2002 12 31 67,859,185 2004 4 25 2003 4 13 2003 ()22 2003 (a)2003 10% 32,096,721 2003 5% 16,048,360 (b) 2003 12 31 (500,746,583 ) 10 3.0 ( ) 10 3.5 325,485,279 51,703,299 (c)2003 12 31 (500,746,583 ) 10 6.5 26 (a) 2004 1 1 6 30 2003 1 1 6 30 ( ) 910,233,477 561,754,289 690,822,333 405,233,378 170,358,284 143,175,115 59,052,000 54,890,935 1,080,591,761 704,929,404 749,874,333 460,124,313 (b) 2004 1 1 6 30 2003 1 1 6 30 ( ) 149,725,578 97,916,799 142,418,815 86,482,783 114,941,955 69,124,654 82,641,387 46,665,333 815,924,228 537,887,951 524,814,131 326,976,197 1,080,591,761 704,929,404 749,874,333 460,124,313 49 59

2004 1 1 6 30 235,031,508 22% (2003 171,090,684 23%) 27 2004 1 1 2003 1 1 6 30 6 30 ( ) 13,673,123 5,509,055 (7,716,671) (1,360,164) 5,956,452 4,148,891 974,336 487,707 6,930,788 4,636,598 28 2004 1 1 2003 1 1 6 30 6 30 ( ) 39,057,990 29,399,461 (838,726) (503,052) 5,635,866 4,726,488 (3,728,534) (1,164,188) 2,900,510 232,505 29 43,027,106 32,691,214 2004 1 1 2003 1 1 6 30 6 30 ( ) 786,878 - (3,103,134) (3,103,134) (2,316,256) (3,103,134) 30 50 59

()9 ()11 () 1 (a) 2004 6 30 2003 12 31 408,412,927 321,274,340 - -, (6,976,643) (4,761,620) 401,436,284 316,512,720 (b) 2004 6 30 2003 12 31 (%) (%) 1 395,743,096 97 (834,724) 316,626,481 99 (1,236,273) 1-2 8,466,375 2 (2,539,913) 1,400,319 - (420,096) 2-3 1,202,901 - (601,451) 284,578 - (142,289) 3 3,000,555 1 (3,000,555) 2,962,962 1 (2,962,962) 408,412,927 100 (6,976,643) 321,274,340 100 (4,761,620) 2004 6 30 333,573,225 82% ( 2003 12 31 232,439,937 72%) 2004 6 30 5% (5%) ( 2003 12 31 ) (c) 2004 6 30 2003 12 31 524,536,977 541,808,388 (135,081) (283,274) 524,401,896 541,525,114 (d) 2004 6 30 2003 12 31 51 59

(%) (%) 1 490,480,545 94 (597) 541,339,220 100 (140,731) 1-2 33,619,368 6-316,625 - - 2-3 302,580 - - 10,000 - - 3 134,484 - (134,484) 142,543 - (142,543) 524,536,977 100 (135,081) 541,808,388 100 (283,274) 2004 6 30 509,112,400 97% ( 2003 12 31 505,173,680 93%) 2004 6 30 5% (5%) ( 2003 12 31 ) 2 2004 1 1 2004 6 30 1,306,893,639 531,588,889 (365,996,560) 1,472,485,968-10,469,774-10,469,774 23,633,048 - (1,976,878) 21,656,170 1,330,526,687 542,058,663 (367,973,438) 1,504,611,912 2004 2004 2004 2004 2004 2004 1 1 6 30 1 1 6 30 1 1 6 30 25,500,000-25,500,000 (16,102,209) (943,495) - (17,045,704) 9,397,791 8,454,296 187,875,000-187,875,000 212,855,056 58,737,571 (141,272,412) 130,320,215 400,730,056 318,195,215 1,067,500-1,067,500 (22,661,720) (17,325,322) - (39,987,042) (21,594,220) (38,919,542) 90,281,513-90,281,513 126,429,824 36,796,560 (74,400,000) 88,826,384 216,711,337 179,107,897 165,000,000-165,000,000 148,943,151 40,543,417 (103,000,000) 86,486,568 313,943,151 251,486,568 49,125,000-49,125,000 63,780,391 32,892,013 (47,600,000) 49,072,404 112,905,391 98,197,404 186,863,683 50,103,755 236,967,438 (7,520,441) 63,546,655-56,026,214 179,343,242 292,993,652 22,188,847 226,249,039 248,437,886 - - - - 22,188,847 248,437,886 75,000,000-75,000,000 (1,731,956) 20,764,548-19,032,592 73,268,044 94,032,592-9,300,000 9,300,000 - - - - - 9,300,000-11,200,000 11,200,000 - - - - - 11,200,000 802,901,543 296,852,794 1,099,754,337 503,992,096 235,011,947 (366,272,412) 372,731,631 1,306,893,639 1,472,485,968-9,682,896 9,682,896-786,878-786,878-10,469,774 802,901,543 306,535,690 1,109,437,233 503,992,096 235,798,825 (366,272,412) 373,518,509 1,306,893,639 1,482,955,742 52 59

2004 6 30 () Meadland 2004 2004 1 1 6 30 6,300,888 3,414,076 - (315,044) 3,099,032 33,236,669 20,218,972 - (1,661,834) 18,557,138 39,537,557 23,633,048 - (1,976,878) 21,656,170 3 2004 1 1 6 30 2003 1 1 6 30 ( ) 173,985,779 163,288,001 109,584,056 93,253,067 101,784,790 91,662,013 62,071,673 57,091,711 223,353,183 203,331,195 298,606,470 245,116,166 499,123,752 458,281,209 470,262,199 395,460,944 2004 1 1 6 30 308,584,649 62% (2003 245,222,729 52%) 4 2004 1 1 2003 1 1 6 30 6 30 ( ) 235,008,145 145,574,804 53 59

786,878 - (1,976,878) (1,976,878) 233,818,145 143,597,926 () 1 / () 2 2004 1 1 2004 6 30 94,011,000 - - 94,011,000 86,456,043 - - 86,456,043 82,458,800 - - 82,458,800 () 3 2004 1 1 2004 6 30 % % % % 112,622,433 22.49 112,622,433 - - - 225,244,866 22.49 78,133,639 15.60 78,133,639 - - - 156,267,278 15.60 97,350,742 19.44 97,350,742 - - - 194,701,484 19.44 54 59

() 4 () 5 (1) a) 14,589,993 (2003 ) b) 5,405,669 (2003 ) (2) 2004 6 30 2003 12 31 14,558,371 - () 2004 6 30 6,097,306 ( 2003 12 31 4,433,292 ) () 2004 6 30 2003 12 31 534,901,232 446,458,829 ( ) ( ) ( ) ( ) 55 59

2001 2001 9 2002 3 2002 2003 2004 1 6 2,776,598 3,229,594 1,371,732 2003 4 2004 5 7 2001 9 2003 3 11.80% 0.13%( 0.5% ) 2004 9 0.5% ( ) 2004 1 1 6 30 199,482,116 () - (3,819,869) - 603,710 - (7,656,528) 1,630,903 190,240,332 (1) () (%) / 375,662,357 23.4% 23.4% 0.38 0.38 206,058,759 12.8% 12.8% 0.21 0.21 199,482,116 12.4% 12.4% 0.20 0.20 56 59

190,240,332 11.9% 11.9% 0.19 0.19 : = = (ROE) : P ROE = E0+NP2+EiMiM0-EjMjM0 :P NP E0 Ei Ej M0 Mi Mj (EPS) : P EPS = S0+S1+SiMiM0-SjMjM0 P S0 S1 Si Sj M0 Mi Mj (2) 2004 6 30 57 59

2004 1 1 2004 6 30 9,494,325 5,044,894 3,342,941 2,571,207 - - (622,942) - - (504,376) 12,214,324 7,111,725 9,211,051 4,761,620 3,305,788 2,571,207 - - (474,749) - - (356,183) 12,042,090 6,976,644 283,274 283,274 37,153 - - - (148,193) - - (148,193) 172,234 135,081 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - 13,174,000 - - - (3,772,744) - (3,772,744) - - - 9,401,256-13,174,000 - - - (3,772,744) - (3,772,744) - - - 9,401,256 - - - - - - - - - - - - - 13,174,000 - - - (3,772,744) - (3,772,744) - - - 9,401,256-58 59

(3) 30%(30%) 5%(5%) 10%(10%) 2004 6 30 2003 12 31 % 665,756,335 490,253,211 175,503,124 36% 1,041,916,986 556,927,487 484,989,499 87% 885,627,236 662,116,732 223,510,504 34% 245,293,684 149,775,258 95,518,426 64% 218,427,971 121,213,407 97,214,564 80% OO 59 59