2003 ANNUAL REPORT SHANDONG LUNENG TAISHAN CABLE CO., LTD.

2003. 2 3 4 7 9 12 13... 15... 23 25 28 63 1

2003 11 10 2

2003 SHANDONG LUNENG TAISHAN CABLE CO., LTD. 5 (0538)8539812 (0538)8539810 zqb@sdlnts.com 62 5 271000 http://www.sdlnts.com lnts@sdlnts.com http://www.cninfo.com.cn 000720 1 3

2003 1994 3 28 62 2002 11 6 62 2 3700001802332 3 370982267184240 370982267084241 4 65 151,123,971.56 62,708,419.27 59,628,515.81 304,203,413.90 6,820,418.78 152,143,162.04 1,948,059.71 235,000.00-3,202,250.19 92,691,006.52-33,024,872.36 4

2003 194,619.81 885,856.59 235,000.00 4,974,604.88 6,290,081.28 3,396,870.00 442,649.06 3,839,519.06-629,341.24 3,079,903.46 2003 2002 2001 1,678,476,433.53 1,755,366,754.18 1,832,751,746.90 1,832,751,746.90 62,708,419.27 78,305,123.32 112,672,207.31 115,842,346.82 0.13 0.16 0.35 0.36 / 0.13 0.16 0.35 0.36 0.19 0.36 0.31 0.31 / % 4.62 6.05 9.09 9.22 2003 12 31 2002 12 31 2001 12 31 2,491,642,145.28 2,918,954,539.28 2,763,241,259.54 2,780,910,480.92 1,357,567,845.30 1,294,251,043.58 1,239,502,307.03 1,255,849,043.53 / 2.83 2.70 3.88 3.93 / 2.83 2.70 3.87 3.92 9 5

2003 (%) ( / ) 22.41 22.95 0.63 0.63 11.21 11.48 0.32 0.32 4.62 4.73 0.13 0.13 4.39 4.50 0.12 0.12 ( : ) 479,700,000 479,700,000 543,493,901.37 1,174,040.41 544,667,941.78 126,459,649.97 11,264,423.84 137,724,073.81 51,982,058.04 7,991,546.19 59,973,604.23 0-565,657.96-565,657.96 92,615,434.20 62,708,419.27 19,255,970.03 136,067,883.44 1,294,251,043.58 82,572,771.75 19,255,970.03 1,357,567,845.30 1 202620600 202620600 2 202620600 202620600 6

2003 3 4 202620600 202620600 1 277079400 277079400 2 1 2 277079400 277079400 479700000 479700000 1 2 21820 2002 12 31 0 144120600 30.04 0 0 58500000 12.20 0-3535147 12156588 2.53 1932197 1932197 0.40 523279 523279 0.11 508040 508040 0.11 100 0 320400 0.07 0 319200 0.07 0 318509 0.07 45745 309586 0.06 1 2 7

2003 1998 10 28 4.56 1993 6 23 150 148098 10% 10% 1992 8 12 14 2.3 A 12156588 A 1932197 A 523279 A 100 508040 A 320400 A 319200 A 318509 A 309586 A 270150 A 269336 A 8

2003 41 2002.3.4-2005.3.3 0 0 45 2002.3.4-2005.3.3 0 0 56 2002.3.4-2005.3.3 17550 17550 45 2002.3.4-2005.3.3 0 0 46 2002.3.4-2005.3.3 0 0 48 2002.3.4-2005.3.3 0 0 46 2002.3.4-2005.3.3 0 0 42 2002.3.4-2005.3.3 0 0 58 2002.3.4-2005.3.3 0 0 48 2003.6.27-2005.3.3 0 0 39 2003.6.27-2005.3.3 0 0 51 2002.3.4-2005.3.3 0 0 47 2002.3.4-2005.3.3 0 0 53 2002.3.4-2005.3.3 10200 10200 44 2002.3.4-2005.3.3 0 0 9

2003 2001 10 1998 10 1998 10 2004 1 2003 5 12 2002 1 82.75 39.53 35.51 2.00 / 13-15 2 10-13 2 8-10 3 8 1 10

2003 2 2003 4 5 2004 1 12 ( ) 1586 443 10 109 22 99 903 361 22.76%; 265 16.7% 36 229 2003 1425 11

2003 12 2003, 1 2 3

2003 4 5, 2003 5 12 2002 2002 2003 4 8 2002 2003 5 12 7 202,681,714 42.25% 1 2002 2 2002 3 2002 4 2002 5 2003 6 7 8 9 10 11 13

2003 2003 5 13 2003 2002 12 26 2003 2003 1 27 6 202,662,850 42.25% 2003 1 28 2003 2003 5 28 2003 2003 6 27 8 202,682,850 42.25% 1 2 3 #2 #3 2003 6 28 2003 2003 7 9 2003 2003 8 8 8 202,745,850 42.27% 1 2 3 2003 8 9 1 2003 5 12 2002 14

2003 2 2003 6 27 2003 2003 9000 2.7 1,678,476.43 2002 1,755,366.75 4.38% 304,203.41 381,417.21 20.24% 62,708.42 78,305.12 19.92% 1 ; a. % % 1,001,651,429.74 59.68 255,305,367.01 83.92 591,340,174.83 35.23 39,873,872.93 13.11 85,484,828.96 5.09 9,024,173.96 2.97 1,678,476,433.53 100.00 304,203,413.90 100.00 15

2003 b. % % 1,001,651,429.74 59.68 255,305,367.01 83.92 577,164,279.57 34.39 39,655,713.23 13.04 14,175,895.26 0.84 218,159.70 0.07 85,484,828.96 5.09 9,024,173.96 2.97 1,678,476,433.53 100.00 304,203,413.90 100.00 c. % % 35,777,061.62 2.13 1,154,436.05 0.38 27,710,374.45 1.65 964,315.26 0.32 36,842,310.15 2.19 2,152,235.79 0.71 1,494,794,705.29 89.06 296,540,178.13 97.48 10,790,058.57 0.64 285,845.60 0.09 50,860,068.31 3.03 2,134,457.63 0.70 5,689,570.11 0.34 192,507.74 0.06 16,012,285.03 0.96 779,437.70 0.26 1,678,476,433.53 100.00 304,203,413.90 100.00 2 10 ( ) 1,001,651.43 727,394.84 27.38-7.63-8.66 3.09 591,340.17 558,685.15 5.52-10.54 0.42-65.13 11,964.66 11,292.25 5.62-79.53-85.73-64.81 16

2003 1,001,651.43 727,394.84 27.38-7.63-8.66 3.09 577,164.28 544,727.42 5.62-7.10 4.34-64.81 11,964.66 11,292.25 5.62-79.53-85.73-64.81 2004 2003 3 1 2003 498,986.12 93,099.30 2 75% 382,260 2003 870,725.89 2003 502,665.31 61,756.60 3 56% 4,500 2003 79,052.93 2003 14,175.90-7,569.11 4 1,580 2003 100,946.79 2003 25,000.67-7,989.04 5 51% 69,900 2003 268,348.70 2003 219,616.06 485.02 17

2003 6 30% 5,000 2003 48,854.34 2003 85,484.83-13.35 526,506.37 76.16 1,058,866.88 63.09 1 2003 2003 7 1 2 2003 1 1999 2003 8 4855.4 2 500KV 18

2003 56000 2003 6 30 51144.6 91.33% 4855.4 2003 4855.4 2003 7 9 8 9 1 2003 74430 #2 #3 #2 2003 7 10430 9560 19990 26.86% #2 135MW 11.93 / 90.7% 2 2003 36000 9000 25% 27000 75% 2003 8 25 2003 297920 1810 2003 2002 2003 2002 (%) ( ) 2,491,642.15 2,918,954.54-14.64 ( ) 1,357,567.85 1,294,251.04 4.89 ( ) 304,203.41 381,417.21-20.24 ( ) 62,708.42 78,305.12-19.92-33,024.87 72,672.41-145.44 1 2002 14.64% 2003 8 19

2003 2 4.89% 3 20.24% 1 2 4 19.92% 2 5 145.44% 1 2003 2 28 2003 7 1 2004 7 1 2 2004 2004 1 2 3 20

2003 4 5, : 1 2003 4 5, 2002 2002 2002 2003 2002 2003 2002 2003 4 8 2 2003 4 21 2003 2003 4 23 3 2003 5 27 #2 #3 2003 2003 5 28 4 2003 7 8 21

2003 2003 2003 7 9 5 2003 8 17 2003 2003 8 19 6 2003 10 28 2003 2003 10 29 1 2003 74430 #2 #3 #2 2003 7 10430 9560 19990 26.86% 2 2003 2003 8 25 3 2002 2002 1 61,951,276.08 10% 6,195,127.61 10% 6,195,127.61 164,274,252.44 213,835,273.30 2003 47970 10 2 0.50 95,940,000.00 23,985,000.00 93,910,273.30 22

2003 2 2003 2003 47970 10 6 28,782 2003 [2003]56 2004 1319 [2003]56 2003 12 31 2003 23

2003 1 2003 4 5 2002 2002 2002 2002 2003 2003 4 8 2 2003 5 27 2003 5 28 3 2003 7 8 2003 7 9 2003 1 2 2003 2003 3 4 5 24

2003 1 7,612.48 0.45% 2 1-557.59 3,455.50 0 0-1,781.99 0 0 0-886.79 0 633.04 633.04 1,190.77 3,417.28 0 0 0 3,690.94 0 0 25

2003 0 0-303.35 0 0 0-222.34 706.67 0 0 46,613.00 46,613.00-2,035.60 10,563.72 46,720.35 47,952.71 2 5% 5% 2003 1 27 2003 2002 2003 5 12 2002 2003 2003 2003 2002 600 1 26

2003 2004 1 12 1 5000 4750 95% 250 5% 2004 1 15 2 2004 1 12 3000 46.36% 2004 3 24 2004 1 13 48,854.33 5,104.5 2003 85,484.83-13.35 2004 1 17 30 2003 153 135 27

2003 2004 1318 2003 12 31 2003 2003 2003 12 31 2003 28

2003 2003 ( ) (1993) 015 ( ) 1994 3 16641354-2-1 1996 11 1999 10 5 1997 10,000 10,000 [1997]130 131 1997 4 4,000 1 14,000 1997 8 1 [1997] 156 10:3 18,200 1997 11 21 26717133-5-1 1999 5 10 [1999] 53 1998 18,200 10 2 3 27,300 1999 6 25 3700001802332 1999 1 28 1998 1998 [1999]66 1998 6 30 18,200 10 3 10 31,980 1999 12 30 3700001802332 [1998]273 [1998]90 29

2003 9,608.04 30.04% [1999]368 2000 2 16 12.2% 3,900 2000 4 24 9,111.96 2002 9 27 2002 2001 31,980 10 3 2 47,970 2002 11 6 3700001802332 2003 12 31 ( ) 14,412.06 30.04% 5,850.00 12.20% 27,707.94 57.76% 47,970.00 100.00% 1 1 12 31 30

2003 1 2 3 1 1 0% 1 2 20% 2 3 50% 3 100% 2 1 2 3 31

2003 1 2 3 4 5 6 1 2 3 4 5 1 32

2003 33 20% 20% 20% 20% 20% 20% 50% 10 2 3 1 2 1 1

2003 2 2 1 2,000 2 3 4 5 34

2003 1 2 3 4 5 1 2 3 4 1 2 3 1 2 1 2 35

2003 3 10 3 1 2 3 4 4 1 2 3 1 2 3 36

2003 4 1 2 3 5 6 1 2 1 50% 50% 50% 2 [1995]11 37

2003 33% 17% 13% 5% 7% 3% ( ) 30% 4,500,000.00 2,520,000.00 56% 10 1,580,000.00 1,580,000.00 100% 62 69,900,000.00 35,649,000.00 51% 50 38

2003 382,261,641.46 292,562,954.47 75% 20 1 5,000,000.00 1,500,000.00 30% 34 1 292,562,954.47 75% 1 2 3 4 5 1 2003.12.31 2002.12.31 230,715.30 685,392.65 1,197.00 8.2767 9,907.21 13,719.00 8.2773 113,556.28 267,849,683.26 293,316,892.22 273,445.89 8.2767 2,263,229.60 392,685.85 8.2773 3,250,378.58 5,908,984.56 11,921,172.56 276,262,519.93 309,287,392.29 39

2003 2 2003.12.31 2002.12.31 1,020,336.00 9,254,838.81 119,921,711.32 2,937,463.98 120,942,047.32 12,192,302.79 1 891.95% 2 52,427,219.12 67,494,492.20 3 5% 3 (%) 2003.12.31 2002.12.31 (%) 1 230,503,705.86 74.34 0% 0.00 490,842,520.70 89.12 0% 0.00 1-2 59,795,401.08 19.28 20% 11,959,080.22 30,462,568.58 5.53 20% 6,092,513.72 2-3 7,426,315.67 2.40 50% 3,713,157.83 10,039,293.92 1.82 50% 5,019,646.96 3 12,341,164.39 3.98 100% 12,341,164.39 19,440,477.80 3.53 100% 19,440,477.80 310,066,587.00 100.00 28,013,402.44 550,784,861.00 100.00 30,552,638.48 282,053,184.56 520,232,222.52 1 5% 5% 3,455,502.31 2 1 3 2003.12.31 2002.12.31 103,435,673.61 134,991,915.44 33.36% 24.51% 40

2003 4 (%) 2003.12.31 2002.12.31 (%) 1 120,055,821.75 80.11 0% 0.00 119,158,704.03 84.35 0% 0.00 1-2 16,853,882.31 11.25 20% 3,370,776.46 9,968,021.30 7.06 20% 1,993,604.26 2-3 3,032,109.49 2.02 50% 1,516,054.75 3,505,547.50 2.48 50% 1,752,773.75 3 9,926,936.16 6.62 100% 9,926,936.16 8,632,187.46 6.11 100% 8,632,187.46 149,868,749.71 100.00 14,813,767.37 141,264,460.29 100.00 12,378,565.47 135,054,982.34 128,885,894.82 1 5% 5% 2 1 3 2002 3 45,185,028.80 2002 12 31 4 5 2003.12.31 2002.12.31 40,600,042.71 31,923,219.38 27.09% 22.60% 5 2003.12.31 2002.12.31 (%) (%) 1 46,721,369.28 92.27 33,748,559.34 98.67 1-2 3,480,287.65 6.87 80,855.01 0.24 2-3 75,623.23 0.15 10,000.00 0.03 3 359,619.74 0.71 364,370.96 1.06 50,636,899.90 100.00 34,203,785.31 100.00 41

2003 1 5%( 5%) 2 1 6 12,325,556.82 2,056,504.56 7 2003.12.31 2002.12.31 31,290,769.24 1,627,493.96 63,284,176.96 1,649,080.57 49,376,898.08 870,909.20 185,774,212.56 14,739,391.16 18,395,197.64 802,659.44 102,954,787.84 1,678,938.12 135,142.15 7,838,156.94 99,198,007.11 3,301,062.60 359,851,334.30 18,067,409.85 95,896,944.51 341,783,924.45 1 2 3 8 2003.12.31 2002.12.31 28,666.68 40,000.00 517,705.81 180,033.95 19,324.24 546,372.49 239,358.19 42

2003 9 2002.12.31 2003.12.31 71,987,927.30 91,621,568.31 2,039,505.97 161,569,989.64 4 14,256,223.25 198,003.10 14,058,220.15 11,000,896.04 656,769.91 10,344,126.13 82,988,823.34 105,877,791.56 2,894,278.98 185,972,335.92 1 22,500,000.00 45.00% -1,521,906.90 20,978,093.10 2,640,000.00 48.00% 1,254,971.64 3,894,971.64 10 5,756,074.99 20.00% 5,756,074.99 450,000.00 2,039,505.97 45.00% 1,589,505.97 0.00 38,000,000.00 2.53% 38,000,000.00 625,000.00 0.004% 625,000.00 30,000.00 0.80% 30,000.00 720,000.00 18.00% 720,000.00 30 90,000,000.00 25.00% 1,565,849.91 91,565,849.91 160,721,074.99 2,039,505.97 2,888,420.62 161,569,989.64 2 10,344,126.13 13,135,398.25 20 656,769.91 3 14,256,223.25 30 475,207.44 5 4 13.70% 43

2003 5 6 10 2002.12.31 2003.12.31 8,795.32 8,795.32 2007.09 8,795.32 8,795.32 8,795.32 8,795.32 11 1 2002.12.31 2003.12.31 730,947,529.23 97,091,552.24 96,956,503.63 731,082,577.84 1,709,992,492.87 171,765,930.41 199,918,526.47 1,681,839,896.81 52,660,117.57 9,675,405.00 19,402,039.24 42,933,483.33 11,622,678.53 1,300,518.49 8,378,368.08 4,544,828.94 2,505,222,818.20 279,833,406.14 324,655,437.42 2,460,400,786.92 2 2002.12.31 2003.12.31 269,292,075.77 32,735,784.02 21,365,788.62 280,662,071.17 957,014,414.32 75,292,996.17 67,424,219.04 964,883,191.45 21,513,185.54 2,898,712.67 8,165,531.37 16,246,366.84 9,789,024.35 868,673.75 8,490,156.31 2,167,541.79 1,257,608,699.98 111,796,166.61 105,445,695.34 1,263,959,171.25 3 1,247,614,118.22 1,196,441,615.67 4 2002.12.31 2003.12.31 1,006,122.42 1,006,122.42 6,108,519.42 6,108,519.42 7,114,641.84 7,114,641.84 44

2003 5 1 267,376,023.27 2 324,655,437.42 314,249,752.13 97,322,834.48 6,929,999.40 3 4 16,138,701.63 11,991,816.81 0.66% 1.00% 12 2002.12.31 2003.12.31 23,197,699.90 43,598,090.26 60,530,846.28 6,264,943.88 101,099,163.71 82,707,338.42 143,302,149.45 40,504,352.68 14,599,466.70 23,347,080.96 15,208,003.89 7,245,779.65 15,492,764.12 29,395,514.34 69,151,643.16 48,335,023.65 30,605,028.73 19,607,105.12 168,291,844.65 218,804,152.80 267,376,023.27 37,850,808.38 81,869,165.80 1 51.35% 2 37,850,808.38 30,250,272.73 3 13 2002.12.31 2003.12.31 59,727,617.69 51,155,415.33 436,044.90 3,899,995.22 1,226,407.25 9,362,564.71 46,465,057.76 40 45

2003 2,235,696.32 22,740.00 22,740.00 2,235,696.32 0.00 6,000,000.00 5,460,000.00 120,000.00 660,000.00 5,340,000.00 44.5 2,131,137.44 722,272.60 427,439.97 98,112.40 1,079,537.27 1,051,600.17 6 70,094,451.45 57,360,427.93 863,484.87 3,899,995.22 1,467,259.65 13,337,798.30 52,856,657.93 14 2002.12.31 2003.12.31 240,000.00 96,666.73 39,999.96 183,333.23 56,666.77 17 ( ) 15 2003.12.31 2002.12.31 83,320,200.00 565,146,200.00 280,000,000.00 80,000,000.00 363,320,200.00 645,146,200.00 16 2003.12.31 2002.12.31 3,905,200.00 17,256,700.00 5,000,000.00 3,905,200.00 22,256,700.00 5% 5% 17 118,411,444.62 135,155,232.85 1 5% 5% 2 3 5,488,303.41 46

2003 18 29,864,433.02 12,844,810.08 5% 5% 19 1,756,056.84 1,599,277.96 20 10,287,309.63 12,006,813.95 21 2003.12.31 2002.12.31 1,505,234.89 280,868.77 1,505,234.89 280,868.77 22 2003.12.31 2002.12.31 17% 13% 17,892,566.27 30,728,099.99 5% 1,044,073.69 1,054,924.02 33% 8,098,467.19 19,621,117.49 1.2% 251,947.13 504,136.56 7% 669,470.00 1,055,450.68 558,178.60 15,434,523.28 1.2 / 323,165.50 448,127.23 11,885.50-10,042.00 28,849,753.88 68,836,337.25 47

2003 41.77% 96.38% 58.73% 23 2003.12.31 2002.12.31 3% 570,543.90 954,903.07 24 78,324,687.43 113,695,037.09 1 5% 5% 2 3 3,315,352.55 1,000,000.00 15 25 2003.12.31 2002.12.31 271,462.50 1,019,636.35 271,462.50 1,019,636.35 26 2003.12.31 2002.12.31 35,000,000.00 287,460,536.72 375,023,290.12 322,460,536.72 375,023,290.12 27 0.00 4,974,604.88 48

2003 28 2002.12.31 2003.12.31 1 20,262.06 20,262.06 14,412.06 14,412.06 5,850.00 5,850.00 2 3 4 20,262.06 20,262.06 1 27,707.94 27,707.94 2 3 4 27,707.94 27,707.94 47,970.00 47,970.00 29 2002.12.31 2003.12.31 536,157,852.27 536,157,852.27 6,000,000.00 6,000,000.00 428,613.23 1,174,040.41 1,602,653.64 907,435.87 907,435.87 543,493,901.37 1,174,040.41 544,667,941.78 1,174,040.41 1,114,301.57 59,738.84 49

2003 30 2002.12.31 2003.12.31 82,605,941.10 11,268,452.86 93,874,393.96 51,982,058.04 7,991,546.19 59,973,604.23 43,853,708.87-4,029.02 43,849,679.85 178,441,708.01 19,255,970.03 197,697,678.04 1 2 31 2003.12.31 2002.12.31 92,615,434.20 166,903,377.47 62,708,419.27 78,305,123.32 11,268,452.86 13,412,646.25 7,991,546.19 11,382,060.38-4,029.02 7,873,359.96 23,985,000.00 95,940,000.00 136,067,883.44 92,615,434.20 23,985,000.00 1 30 2 23,985,000.00 2004 4 26 2003 2003 12 31 47,970 10 2 0.50 50

2003 32 565,657.96 0.00 [1999]10 33 1 2003 2002 1,001,651,429.74 727,394,837.26 1,084,348,310.10 796,389,720.16 591,340,174.83 558,685,151.65 661,006,293.66 556,357,806.91 85,484,828.96 76,438,222.56 10,012,150.42 9,374,958.16 1,678,476,433.53 1,362,518,211.47 1,755,366,754.18 1,362,122,485.23 2 2003 2002 35,777,061.62 34,527,287.94 69,843,225.07 62,693,027.07 27,710,374.45 26,672,217.43 31,278,564.21 27,994,314.97 36,842,310.15 34,591,898.09 70,738,955.13 65,079,838.72 1,494,794,705.29 1,186,989,188.48 1,423,030,740.28 1,065,045,308.08 10,790,058.57 10,475,459.95 20,485,010.97 17,178,719.81 50,860,068.31 48,590,080.32 98,208,276.04 85,851,244.21 5,689,570.11 5,481,900.98 10,761,445.00 9,685,300.92 16,012,285.03 15,190,178.28 31,020,537.48 28,594,731.45 1,678,476,433.53 1,362,518,211.47 1,755,366,754.18 1,362,122,485.23 3 5 2003 2002 1,058,866,883.87 1,171,992,008.33 63.09% 66.77% 51

2003 34 2003 2002 5% 20,393.13 39,291.74 7% 8,131,880.30 8,251,429.02 3% 3,602,534.73 3,536,334.43 11,754,808.16 11,827,055.19 35 2003 2002 5,096,626.88 3,394,038.95 420,617.87 369,550.76 1,303,174.03 3,455,105.14 6,820,418.78 7,218,694.85 36 2003 2002 50,705,570.39 63,050,971.15 2,874,572.97 2,616,378.32-1,107.61 20,529.37 250,207.54 506,820.02 48,080,097.35 60,961,942.22 37 2003 2002-10,000.00-854,773.01-656,769.91 2,802,832.72 3,363,858.90 2,802,832.72 3,363,858.90 1,948,059.71 2,697,088.99 52

2003 38 2003 2002 73,025.49 189,081.51 83,270.40 124,360.59 38,323.92 128,414.52 194,619.81 441,856.62 39 2003 2002 614,027.33 3,249,533.48 114,062.84 268,015.91 2,283,352.83 15,437,519.25 93,066.90 385,427.00 329,168.82 3,396,870.00 19,377,304.36 82.47% 40 71,774,917.05 41 186,932,377.08 42 92,691,006.52 45.98% 53

2003 43 1 2003.12.31 2002.12.31 5,169,838.81 119,921,711.32 2,937,463.98 119,921,711.32 8,107,302.79 1 1379.18% 2 52,427,219.12 67,494,492.20 3 5% 2 (%) 2003.12.31 2002.12.31 (%) 1 108,745,735.74 66.02 0% 0.00 351,432,588.96 89.88 0% 0.00 54

2003 1-2 48,091,629.43 29.19 20% 9,618,325.89 19,207,606.18 4.91 20% 3,841,521.24 2-3 3,900,590.99 2.37 50% 1,950,295.50 5,163,197.93 1.32 50% 2,581,598.96 3 3,991,588.46 2.42 100% 3,991,588.46 15,211,307.52 3.89 100% 15,211,307.52 164,729,544.62 100.00 15,560,209.85 391,014,700.59 100.00 21,634,427.72 149,169,334.77 369,380,272.87 1 5%( 5%) 2,359,175.11 3,455,502.31 1,096,327.20 2 1 3 2003.12.31 2002.12.31 98,282,283.98 96,614,523.84 59.66% 24.71% 3 (%) 2003.12.31 2002.12.31 (%) 1 297,442,681.79 82.01 0% 0.00 274,428,743.35 82.37 0% 0.00 1-2 12,103,185.46 3.34 20% 2,420,637.09 5,789,513.50 1.74 20% 1,157,902.70 2-3 2,394,728.57 0.66 50% 1,197,364.29 1,985,941.80 0.60 50% 992,970.90 3 50,728,758.42 13.99 100% 50,728,758.42 50,958,686.17 15.29 100% 50,958,686.17 362,669,354.24 100.00 54,346,759.80 333,162,884.82 100.00 53,109,559.77 308,322,594.44 280,053,325.05 1 5%( 5%) 2 1 3 5 2003.12.31 2002.12.31 55

2003 294,419,296.52 301,764,322.78 81.18% 90.58% 4 2002.12.31 2003.12.31 460,145,904.03 108,210,305.79 568,356,209.82 11,000,896.04 14,256,223.25 854,773.01 24,402,346.28 471,146,800.07 122,466,529.04 854,773.01 592,758,556.10 1 10 13,859,544.15 56% -13,859,544.15 0.00 20 292,562,954.47 75% 74,008,097.19 366,571,051.66 50 35,649,000.00 51% 3,064,815.49 38,713,815.49 20 2,640,000.00 48% 1,254,971.64 3,894,971.64 22,500,000.00 45% -1,521,906.90 20,978,093.10 1,500,000.00 30% 31,353.03 1,531,353.03 720,000.00 18% 720,000.00 625,000.00 625,000.00 10 5,756,074.99 20% 5,756,074.99 38,000,000.00 2.53% 38,000,000.00 30 90,000,000.00 25% 1,565,849.91 91,565,849.91 56

2003 503,812,573.61 64,543,636.21 568,356,209.82 2 2002.12.31 2003.12.31 13,135,398.25 11,000,896.04 656,769.91 10,344,126.13 20 14,256,223.25 14,256,223.25 198,003.10 14,058,220.15 30 27,391,621.50 11,000,896.04 14,256,223.25 854,773.01 24,402,346.28 3 4 5 2003 2002 498,986,115.15 344,841,745.10 571,935,609.21 404,525,371.50 340,192,470.70 339,725,712.07 470,772,595.65 401,687,479.60 839,178,585.85 684,567,457.17 1,042,708,204.86 806,212,851.10 6 2003 2002-854,773.01-656,769.91 46,043,718.18 34,831,785.61 3,155,958.73 1,918,575.28 42,887,759.45 32,913,210.33 45,188,945.17 34,175,015.70 57

2003 1 2 45,656.80 45,656.80 3 2002.12.31 2003.12.31 % % 14,412.06 30.04 14,412.06 30.04 4 1 2 2003 2002 (%) (%) 7,612,482.49 0.45 55,388,544.30 3.16 223,463.40 0.01 911,765.69 0.05 58

2003 3,009,172.82 0.18 240,448.72 0.01 1,119,537.72 0.07 1,903,001.42 0.11 3 2003 2002 4,086,218.12 6,200,086.07 30,350,203.19 7,710,928.09 2003.12.31 2002.12.31 (%) (%) 1 3,455,502.31 1.11 4,013,090.49 0.73 873,753.81 0.16 886,792.89 0.16 3,417,282.59 1.10 2,226,511.66 0.40 2 3,690,936.94 2.46 3,690,936.94 1.98 908,240.73 0.49 3 303,353.13 0.20 633,040.43 0.53 35,509,737.59 29.99 4 706,670.40 0.90 929,013.60 0.82 11,103,259.51 14.18 59

2003 1 2004 1 5,000 4,750 95% 2 2004 1 3,000 46.36% 3 2004 1 17 30% 2003 153 135 4 2004 4 26 2003 61,951,276.08 6,195,127.61 6,195,127.61 164,274,252.44 213,835,273.30 2003 47,970 10 2 0.50 95,940,000.00 23,985,000.00 93,910,273.30 2003 47,970 10 6 28,782 2003 5 2004 4 26 2004 3 31 60

2003 99,552.07 73,641.56 25,910.51 25,910.51 0.25-220KV 2003 4 30 785,601,209.08 775,392,807.17 10,208,401.91 680,237,784.15 680,237,784.15 95,155,023.02 9,000 27,000 36,000 2003 8 25 4,396,160.00 205,949,624.35 4,986,770.86 200,962,853.49 218,243,039.59 13,112,781.12 205,130,258.47 314,249,752.13 97,322,834.48 6,929,999.40 209,996,918.25 30,250,272.73 3,899,995.22 654,636,458.16 61

2003 461,000,000.00 5,625,663.48 5,904,571.43 77,850,000.00 550,380,234.91 104,256,223.25 104,256,223.25 90,000,000.00 14,256,223.25 1 (%) 2002 29.47 29.97 0.80 0.80 14.41 14.65 0.39 0.39 6.05 6.15 0.16 0.16 6.86 6.98 0.19 0.19 2003 22.41 22.95 0.63 0.63 11.21 11.48 0.32 0.32 4.62 4.73 0.13 0.13 4.39 4.50 0.12 0.12 2 (%) 2002 17.38 17.77 0.48 0.48 8.74 8.94 0.24 0.24 7.04 7.20 0.19 0.19 6.84 7.00 0.19 0.19 2003 10.67 10.93 0.31 0.31 4.77 4.88 0.14 0.14 4.45 4.56 0.13 0.13 62

2003 4.22 4.32 0.12 0.12 2003 2002 194,619.81 441,856.62 885,856.59 235,000.00 4,974,604.88 4,974,604.88 6,290,081.28 5,416,461.50 3,396,870.00 19,377,304.36 442,649.06 3,839,519.06 19,377,304.36-629,341.24-3,418,968.96 3,079,903.46-10,541,873.90 00 63

2003 2003-12-31 2002-12-31 1 276,262,519.93 200,512,135.53 309,287,392.29 227,293,517.42 2 120,942,047.32 119,921,711.32 12,192,302.79 8,107,302.79 3,748,480.80 3,017,111.34 3 282,053,184.56 149,169,334.77 520,232,222.52 369,380,272.87 4 135,054,982.34 308,322,594.44 128,885,894.82 280,053,325.05 5 50,636,899.90 13,463,448.95 34,203,785.31 10,796,414.46 6 12,325,556.82 1,490,140.07 2,056,504.56 1,354,229.01 7 95,896,944.51 4,295,123.71 341,783,924.45 270,166,366.62 8 546,372.49 239,358.19 180,033.95 973,718,507.87 800,922,969.59 1,348,881,384.93 1,170,348,573.51 9 185,972,335.92 592,758,556.10 82,988,823.34 471,146,800.07 10 8,795.32 8,795.32 185,981,131.24 592,758,556.10 82,997,618.66 471,146,800.07 10 10,344,126.13 11,000,896.04 11 2,460,400,786.92 989,659,767.66 2,505,222,818.20 1,114,862,007.01 11 1,263,959,171.25 713,956,426.96 1,257,608,699.98 780,589,120.40 11 1,196,441,615.67 275,703,340.70 1,247,614,118.22 334,272,886.61 11 7,114,641.84 7,114,641.84 1,196,441,615.67 275,703,340.70 1,240,499,476.38 327,158,244.77 718,400.00 20,827,120.00 12 81,869,165.80 60,111,457.80 168,291,844.65 129,581,457.09 1,279,029,181.47 335,814,798.50 1,429,618,441.03 456,739,701.86 13 52,856,657.93 1,007,600.17 57,360,427.93 4,693,155.91 14 56,666.77 96,666.73 52,913,324.70 1,007,600.17 57,457,094.66 4,693,155.91 2,491,642,145.28 1,730,503,924.36 2,918,954,539.28 2,102,928,231.35 64

2003 2003-12-31 2002-12-31 15 363,320,200.00 240,000,000.00 645,146,200.00 526,900,000.00 16 3,905,200.00 22,256,700.00 15,600,000.00 17 118,411,444.62 55,885,529.02 135,155,232.85 69,021,049.44 18 29,864,433.02 9,803,546.66 12,844,810.08 9,801,488.49 19 1,756,056.84 453,423.33 1,599,277.96 20 10,287,309.63 251,742.87 12,006,813.95 1,440,601.94 21 1,505,234.89 280,868.77 22 28,849,753.88 6,414,294.24 68,836,337.25 45,484,849.10 23 570,543.90 474,152.40 954,903.07 750,031.55 24 78,324,687.43 25,618,031.66 113,695,037.09 23,899,180.76 25 271,462.50 271,462.50 1,019,636.35 56,800,000.00 35,000,000.00 637,066,326.71 339,172,182.68 1,070,595,817.37 727,897,201.28 26 322,460,536.72 375,023,290.12 41,850,000.00 27 4,974,604.88 4,974,604.88 322,460,536.72 379,997,895.00 46,824,604.88 959,526,863.43 339,172,182.68 1,450,593,712.37 774,721,806.16 174,547,436.55 174,109,783.33 28 479,700,000.00 479,700,000.00 479,700,000.00 479,700,000.00 479,700,000.00 479,700,000.00 479,700,000.00 479,700,000.00 29 544,667,941.78 544,318,891.61 543,493,901.37 543,144,851.20 30 197,697,678.04 153,477,576.77 178,441,708.01 141,087,321.55 30 59,973,604.23 50,316,084.18 51,982,058.04 44,120,956.57 31 136,067,883.44 213,835,273.30 92,615,434.20 164,274,252.44 23,985,000.00 23,985,000.00 32 565,657.96 1,357,567,845.30 1,391,331,741.68 1,294,251,043.58 1,328,206,425.19 2,491,642,145.28 1,730,503,924.36 2,918,954,539.28 2,102,928,231.35 65

2003 2003 2002 33 1,678,476,433.53 839,178,585.85 1,755,366,754.18 1,042,708,204.86 33 1,362,518,211.47 684,567,457.17 1,362,122,485.23 806,212,851.10 34 11,754,808.16 6,089,972.32 11,827,055.19 5,594,807.61 ( - ) 304,203,413.90 148,521,156.36 381,417,213.76 230,900,546.15 35 6,820,418.78 2,484,191.06 7,218,694.85 2,584,355.93 47,824,629.85 23,088,207.13 64,196,870.73 44,774,116.93 62,975,943.44 43,041,609.48 77,010,873.95 44,521,393.80 36 48,080,097.35 18,519,452.93 60,961,942.22 28,077,824.22 ( - ) 152,143,162.04 66,356,077.88 186,466,221.71 116,111,567.13 37 1,948,059.71 45,188,945.17 2,697,088.99 34,175,015.70 235,000.00 38 194,619.81 65,132.42 441,856.62 210,046.14 39 3,396,870.00 3,003,291.98 19,377,304.36 3,262,261.39 ( - ) 151,123,971.56 108,606,863.49 170,227,862.96 147,234,367.58 76,795,105.29 46,655,587.41 82,363,808.49 53,719,622.66 12,186,104.96 9,558,931.15 565,657.96 ( - ) 62,708,419.27 61,951,276.08 78,305,123.32 93,514,744.92 92,615,434.20 164,274,252.44 166,903,377.47 209,387,456.50 155,323,853.47 226,225,528.52 245,208,500.79 302,902,201.42 11,268,452.86 6,195,127.61 10,065,675.64 9,351,474.49 7,991,546.19 6,195,127.61 12,104,577.67 9,351,474.49 136,063,854.42 213,835,273.30 223,038,247.48 284,199,252.44-4,029.02 10,497,813.28 23,985,000.00 23,985,000.00 95,940,000.00 95,940,000.00 136,067,883.44 213,835,273.30 92,615,434.20 164,274,252.44 1-442,649.06 2 3 ( ) -3,729,554.02 4 ( ) 5 32,565.00 6 66

2003 2003 1,991,646,309.84 950,091,235.25 222,387.19 222,387.19 40 71,774,917.05 36,013,361.83 2,063,643,614.08 986,326,984.27 1,428,266,978.74 674,917,695.57 121,124,049.22 83,874,792.31 234,629,202.52 140,565,200.49 41 186,932,377.08 131,308,393.77 1,970,952,607.56 1,030,666,082.14 42 92,691,006.52-44,339,097.87 46,953.54 2,688,257.46 28,276,083.34-1,314,932.87-1,393,509.29 1,420,278.13 26,882,574.05 191,686,398.87 145,385,350.80 191,686,398.87 145,385,350.80-190,266,120.74-118,502,776.75 951,166,081.33 651,000,000.00 951,166,081.33 651,000,000.00 807,965,371.45 475,900,000.00 78,651,575.63 39,038,641.05 8,529,473.29 886,616,947.08 514,938,641.05 64,549,134.25 136,061,358.95 1,107.61-866.22-33,024,872.36-26,781,381.89 67

2003 1 62,708,419.27 61,951,276.08 12,186,104.96-565,657.96 4,908,108.71 248,003.07 105,050,968.24 33,960,456.27 1,467,259.65 163,000.49 39,999.96-307,014.30 180,033.95-748,173.85 271,462.50 2,200,082.43 2,099,689.33 55,680,175.27 24,835,928.25-1,948,059.71-45,188,945.17 41,969,409.70 60,740,984.44-94,570,932.92-63,913,364.40-95,379,682.93-119,687,622.68 92,691,006.52-44,339,097.87 2 2003 3 276,262,519.93 200,512,135.53 309,287,392.29 227,293,517.42-33,024,872.36-26,781,381.89 68

2003 2003 12 31 43 42,931,203.95 5,768,593.31 885,856.59 4,986,770.86 5,872,627.45 42,827,169.81 30,552,638.48 3,174,453.89 726,919.07 4,986,770.86 5,713,689.93 28,013,402.44 12,378,565.47 2,594,139.42 158,937.52 158,937.52 14,813,767.37 43 18,067,409.85 14,766,347.25 14,766,347.25 3,301,062.60 14,739,391.16 13,868,481.96 13,868,481.96 870,909.20 1,649,080.57 21,586.61 21,586.61 1,627,493.96 43 7,114,641.84 7,114,641.84 7,114,641.84-1,006,122.42 1,006,122.42 1,006,122.42-6,108,519.42 6,108,519.42 6,108,519.42-69

2003 2003 479,700,000.00 479,700,000.00 319,800,000.00 319,800,000.00 159,900,000.00 159,900,000.00 63,960,000.00 63,960,000.00 95,940,000.00 95,940,000.00 479,700,000.00 479,700,000.00 479,700,000.00 479,700,000.00 543,493,901.37 543,144,851.20 607,025,288.14 606,676,237.97 1,174,040.41 1,174,040.41 428,613.23 428,613.23 1,174,040.41 1,174,040.41 428,613.23 428,613.23 63,960,000.00 63,960,000.00 63,960,000.00 63,960,000.00 544,667,941.78 544,318,891.61 543,493,901.37 543,144,851.20 126,459,649.97 96,966,364.98 105,173,643.76 87,614,890.49 11,264,423.84 6,195,127.61 21,286,006.21 9,351,474.49 11,264,423.84 6,195,127.61 21,286,006.21 9,351,474.49 11,268,452.86 6,195,127.61 13,412,646.25 9,351,474.49-4,029.02 7,873,359.96 137,724,073.81 103,161,492.59 126,459,649.97 96,966,364.98 93,874,393.96 67,218,613.73 82,605,941.10 61,023,486.12 43,849,679.85 35,942,878.86 43,853,708.87 35,942,878.86 51,982,058.04 44,120,956.57 40,599,997.66 34,769,482.08 7,991,546.19 6,195,127.61 11,382,060.38 9,351,474.49 7,991,546.19 11,382,060.38 9,351,474.49 59,973,604.23 50,316,084.18 51,982,058.04 44,120,956.57 92,615,434.20 164,274,252.44 166,903,377.47 209,387,456.50 62,708,419.27 61,951,276.08 78,305,123.32 93,514,744.92 19,255,970.03 12,390,255.22 152,593,066.59 138,627,948.98 136,067,883.44 213,835,273.30 92,615,434.20 164,274,252.44 23,985,000.00 23,985,000.00 70