1

Tibet Mineral Development Co.,LTD OO

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Tibet Mineral Development Co.,LTD 14 0891 6324952 0891 6336738 028 84446041 xzkyxx@mail.sc.cninfo.net 14 028 85252381 028 84446041 14 14 850000 adslxzkycd@mail.sc.cninfo.net http://www.cninfo.com.cn 000762 2000 6 8 5400001000707 540100219672637 35 A 5 3

-73,022,574.25-58,888,709.77-47,801,180.90 12,950,542.30 299,059.35-60,356,319.18-1,578,726.20 1,040,000.00-12,127,528.87 4,254,316.61 7,299,776.35 1 1,040,000.00 2-12,127,528.87 ( 2002 2001 2000 159,245,924.61 183,016,409.75 181,236,088.15 181,236,088.15-58,888,709.77 5,177,145.20-414,476.86 1,009,380.45 652,343,911.53 723,057,252.67 743,727,241.86 743,727,241.87 ( 419,698,513.46 482,466,065.36 479,812,378.35 482,608,326.28 ) -0.2937 0.0258-0.002 0.005-0.2937 0.0258-0.002 0.0052 2.0932 2.406 2.393 2.4069 1.8240 2.341 2.333 2.3474 0.0212-0.0504-0.24-0.24-14.03% 1.07% -0.09% 0.21% -13.00% 1.08% -0.09% 0.21% 1 ( 9 ) 2002 % / 3.09 2.86 0.06 0.06-14.38-13.32-0.30-0.30-14.03-13.00-0.29-0.29-11.47-10.62-0.24-0.24 4

/ 20,051 264,296,624.62 17,558,771.62 8,779,385.81 979,143.31-878,474.19 482,466,065.36 240,177.06 240,177.06 58,888,709.77 4,119,019.19 63,007,728.96 20,051 264,536,801.68 17,558,771.62 8,779,385.81-57,909,566.46-4,997,493.38 419,698,513.46 30 2002 : + - 1. 8043.7 4307.3 2 3 4 12351.0 1 2 3 4 7700.0 20051.0 8043.7 4307.3 12351.0 7700.00 20051.0 1 1999 12 2 1999 2000 2 28 6694.97 2001 2002 2 3 1 2002 12 31 22239 2 2002 12 31 5

% 1 80437000 2 16473000 3 12673000 4 7600000 5 6327000 6 1959815 7 1614870 8 1239700 9 1115000 10 1050946 5 6 40.12 8.22 6.32 3.79 3.16 0.98 0.81 0.62 0.56 0.52 3, 3 40.12% : :1994 3 : :3,323 : 1 55 2000.7-2003.7 39600 39600 48. 2000.7-2003.7 35200 35200 50 2000.7-2003.7 26400 26400 53 2000.7-2003.7 26400 26400 55 2000.7-2003.7 26400 26400 43 2000.7-2003.7 0 0 58 2000.7-2003.7 26400 26400 49 2001.5-2003.7 0 0 32 2000.7-2003.7 0 0 49 2000.7-2003.7 6600 6600 35 2002.7-2003.7 0 0 63 2002.7-2003.7 0 0 57 2000.7-2003.7 26400 26400 29 2000.7-2003.7 0 0

46 2000.7-2003.7 17600 17600 53 2000.7-2003.7 0 0 40 2000.7-2003.7 0 0 51 2000.7-2003.7 0 0 48 2000.7-2003.7 17600 17600 46 2000.7-2003.7 26400 26400 46 2000.7-2003.7 15200 15200 1 2 101.96 42 2000.7-2003.7 0 0 : 2 6.5 ~7.5 2 4.5 ~6 12 4 2 ( ) 4 6 3 4 4 19.69 15.92 3 12002 4 30 22002 5 27 2001 4 2002 12 31 697 405 58.11% 80 11.48% 65 9.33% 64 7

9.18% 83 11.91% 93 13.34% 184 26.40% 420 60.25% 1 2 3 4 1 2 3 4 5 2001 2002 2001 1 2002 4 15 2001 8

2001 2002 5 27 12,369.46 61.69% 2002 5 28 http://www.cninfo.com.cn 2 2001 1 2001 2 2001 3 2001 4 2001 2002 5 6 7 8 9 10 2002 1 2002 5 30 2001 2002 2002 6 30 14 12,373.22 61.71% 2002 7 2 http://www.cninfo.com.cn 2 2001 1 2 3 1,, 2002 62.74%, 123.64 / 420.53 / 2002 15,924.59 12.99 %, -5,888.87 1237.47% 1 a 9

16,935,054.92 5,538,072.32 50,543,539.10 8,472,041.54 91,767,330.59 496,583.31 10.63 % 31.74 % 57.63% b 141,342,785.01 11,454,767.96 6,462,303.00 938,876.78 5,581,465.29 1,677,777.01 5,859,371.31 435,275.42 88.76% 4.06% 3.50% 3.68% 2 10% 16,93.51 846.30 50.3% 50,54.35 4,500.55 10.96% 91,76.73 9,127.07 0.54% 3 2 3,323 32,482-374.52 3 4,561.13 41.04%, 5,491.86 34.49 4 (1) a b c (2) a b 10

c 5,038.33 334.36 37.5% 8.95% 16% 45% 40% 51% 30% 51% 1 1 4600 0 1,611.01 4950 542.04 3,250.00 3840 20.93 403.76 2 65.66 %, 10.51 % 2002 562.97 2002 12 31 6,030.18 1,916.81 4,113.37 2 ( ) 2002 2001 +/- % 1 65,234.39 72,305.73-9.78 24,928.00 1,000.00 392.8 341,969.85 48,246.61-13.01 4 1,295.05 4,748.80-72.73 5-5,888.87 517.71-1237.47 11

1 2 3 4 5, 1 9 12002 2 8 22002 4 14 2001 2001 2001 2001 2002 2001 32002 4 23 2002 42002 5 10 2001 52002 5 29 2002 62002 6 27 5000 72002 8 13 2002 2002 82002 10 15 3728 6 2002 9 2008 9 92002 10 17 2002 2 2002 5 27 2001 2001 10 0.15 2002 7 22 7 23 2002 7 16 12

2002-58,888,709.77 2002 2002 3 2 1 2002 4 14 2001 2001 2001 2002 2001 2 2002 5 29 2002 3 2002 8 13 2002 2002 1 2002 2 2002 3 4 5 2002 12 18 1 13

78.59%, 1 21 2002 6 27 5,000 2 2002 10 15 3,728 6 2002 9 2008 9 3 4 5% 2000 2002 2 8 2001 2002 5 27 2002 2002 35 1 14

[2003] D9 : 2002 12 31 2002 2002 2002 12 31 2002 2002 2003 4 3 2003 4 6.3 15

: 2002-12-31 2001-12-31 : :.1 41,133,764.34 33,833,987.99.2 14,163,909.00 16,712,370.80.9.3.6 177,231,948.13 194,959,081.47.9.4.6 67,481,376.36 68,008,809.68.5 9,700,921.27 11,051,657.28.10.6 80,480,418.02 110,206,641.12.7 187,013.99 1,605,254.66 390,379,351.11 436,377,803.00 :.11.8 50,383,344.28 47,039,767.05 50,383,344.28 47,039,767.05 : 93,337.91 156,566.31 :.12.9 246,224,317.41 263,473,388.09 :.12.9 74,774,664.77 67,945,348.21.12.9 171,449,652.64 195,528,039.88 :.12.9 6,217,754.21 7,836,700.00.12.9 165,231,898.43 187,691,339.88.10 86,268.97 176,293.83.13.11 36,896,515.80 38,545,493.21 202,214,683.20 226,413,126.92.15.12 5,886,057.46 6,138,411.58.16.13 3,480,475.48 7,088,144.12 9,366,532.94 13,226,555.70 : 652,343,911.53 723,057,252.67 16

: : 2002-12-31 2001-12-31 :.14.14 105,360,000.00 85,925,000.00.15 3,866,000.00 490,000.00.16 25,879,976.93 41,472,919.63.17 990,484.37 1,039,194.71.18 546,816.09 594,208.15.19 2,523,709.72 2,336,817.41.20 3,007,650.00.21 1,886,801.13 3,135,305.49.22 129,045.79 192,308.56.23.6 9,186,523.85 15,352,647.74.24 1,504,628.44 4,606,426.26.25 45,400,000.00 151,873,986.32 203,552,477.95 :.14.26 49,280,000.00 10,000,000.00 49,280,000.00 10,000,000.00 201,153,986.32 213,552,477.95 31,491,411.75 27,038,709.36 :.27 200,510,000.00 200,510,000.00 200,510,000.00 200,510,000.00.28 264,536,801.68 264,296,624.62.29 17,558,771.62 17,558,771.62 : 8,779,385.81 8,779,385.81.21 (4,997,493.38) (878,474.19).30 (57,909,566.46) 979,143.31 419,698,513.46 482,466,065.36 652,343,911.53 723,057,252.67 ( ) : : : 17

: 2002 2001.18.31 159,245,924.61 183,016,409.75.32 144,739,227.44 132,251,504.37.33 1,556,154.87 3,276,919.08.44 12,950,542.30 47,487,986.30 :.34 299,059.35 720,481.93 :.45 11,883,342.43 17,053,644.07.46 55,983,800.41 20,959,582.24.36 5,738,777.99 5,144,298.98.47 (60,356,319.18) 5,050,942.94.37 (1,578,726.20) (153,359.04).35 1,040,000.00 1,170,470.00.38 189,209.10 253,457.93.39 12,316,737.97 4,240,973.65.48 (73,022,574.25) 2,080,538.18.19.40 295,626.31 (733,725.41).49 (7,486,915.22) (1,484,407.42).21.43 (6,942,575.57) (878,474.19).50 (58,888,709.77) 5,177,145.20 979,143.31 (154,922.85) (57,909,566.46) 5,022,222.35 517,714.52 517,714.52 (57,909,566.46) 3,986,793.31 3,007,650.00. (57,909,566.46) 979,143.31 2002 2001 1. 10,000.00 2. 3. 4. 5. 8,191,242.96 3,583,411.64 6. ( ) : : : 18

(%) ( / ) 3.09 2.86 0.06 0.06 (14.38) (13.32) (0.30) (0.30) (14.03) (13.00) (0.29) (0.29) (11.47) (10.62) (0.24) (0.24) 1 = = 2 (ROE) ROE = P/(E0 NP 2 Ei X Mi M0 Ej X Mj M0) :P NP ;E0 Ei Ej M0 Mi Mj 3 EPS EPS = P / ( S0 S1 Si X Mi M0 Sj X Mj M0 ) :P S0 S1 Si Sj M0 Mi Mj (4) = + 3 : : : 19

: : 2002. 99,196,076.54 1,086,644.56 41 24,260,231.42 124,542,952.52 43,551,766.01 11,283,909.11 11,297,783.69 42 54,155,177.10 120,288,635.91 4,254,316.61. 10,000.00 73,000.00 83,000.00 17,812,632.63 17,812,632.63 (17,729,632.63 ). 162,180,000.00 162,180,000.00 132,848,000.00 8,556,907.63 141,404,907.63 20,775,092.37.. 7,299,776.35 ( ) : : : 20

: : 2002 1. : (58,888,709.77) : (7,486,915.22) (6,942,575.57) : 10,253,627.82 13,714,824.71 252,354.12 3,607,668.64 1,418,240.67 (3,101,797.82) ( ) 2,897,677.77 5,926,508.99 ( ) 1,578,726.20 ( ) ( ) 29,514,900.88 ( ) 12,332,549.30 ( ) (19,604,043.81) 18,781,279.70 4,254,316.61 2. 3. : 41,133,764.34 : 33,833,987.99 : 7,299,776.35 : : : 21

: : 2002-12-31 2001-12-31 : 20,878,561.91 26,191,579.05 12,581,909.00 15,782,370.80.1 189,387,274.46 225,407,734.03.2 72,380,094.80 69,792,436.57 33,578.38 1,510,468.54 54,648,140.37 68,848,097.56 136,625.99 1,603,962.66 350,046,184.91 409,136,649.21 :.3 88,539,285.83 84,016,980.09 88,539,285.83 84,016,980.09 : 93,337.91 156,566.31 : 190,795,819.61 185,752,214.92 : 61,781,468.57 52,290,565.36 129,014,351.04 133,461,649.56 : 6,217,754.21 7,836,700.00 122,796,596.83 125,624,949.56 16,596,175.49 22,790,578.64 139,392,772.32 148,415,528.20 4,652,982.17 4,729,803.89 2,527,155.24 3,286,618.76 7,180,137.41 8,016,422.65 585,158,380.47 649,585,580.15 22

: : 2002-12-31 2001-12-31 : 102,460,000.00 67,875,000.00 3,866,000.00 490,000.00 18,782,386.04 31,452,035.47 825,369.27 674,731.18 146,487.51 74,699.51 1,792,671.59 1,635,235.80 3,007,650.00 (285,211.44) 2,448,353.38 36,828.55 104,394.09 20,811,661.17 13,059,344.43 1,361,551.48 1,971,282.85 42,000,000.00 149,797,744.17 164,792,726.71 : 10,000,000.00 10,000,000.00 159,797,744.17 164,792,726.71 : 200,510,000.00 200,510,000.00 200,510,000.00 200,510,000.00 264,536,801.68 264,296,624.62 17,558,771.62 17,558,771.62 : 8,779,385.81 8,779,385.81 (57,244,937.00) 2,427,457.20 425,360,636.30 484,792,853.44 585,158,380.47 649,585,580.15 ( ) : : : 23

: : 2002 2001..4 150,337,713.57 203,298,339.11.5 136,173,068.63 152,831,258.93 1,255,746.27 3,181,059.27. 12,908,898.67 47,286,020.91 : 98,888.72 441,529.56 : 9,626,103.62 15,919,292.60 41,557,171.85 16,238,588.64 3,672,714.38 3,125,991.30. (41,848,202.46) 12,443,677.93.6 (11,367,694.26) (4,279,359.57) 1,040,000.00 985,000.00 77,161.88 249,389.93 7,573,659.36 4,116,985.51. (59,672,394.20) 5,281,722.78 (744,355.16). (59,672,394.20) 6,026,077.94 2,427,457.20 444,458.30. (57,244,937.00) 6,470,536.24 517,714.52 517,714.52. (57,244,937.00) 5,435,107.20 3,007,650.00. (57,244,937.00) 2,427,457.20 2002 2001 1. 10,000.00 2. 3. 4. 5. 8,191,242.96 3,583,411.64 6. ( ) : : : 24

: : 2002. 83,307,360.48 1,040,000.00 38,331,343.38 122,678,703.86 35,987,479.82 7,472,552.61 9,572,608.28 64,830,785.44 117,863,426.15 4,815,277.71. 10,000.00 73,000.00 83,000.00 1,741,223.39 5,000,000.00 6,741,223.39 (6,658,223.39). 120,000,000.00 120,000,000.00 117,000,000.00 6,470,071.46 123,470,071.46 (3,470,071.46).. (5,313,017.14) : : : 25

( ) : : 2002 1. : (59,672,394.20) : 11,787,740.31 10,746,406.39 76,821.72 759,463.52 1,467,336.67 (609,731.37) ( ) 59,229.91 3,786,110.02 ( ) 11,367,694.26 ( ) ( ) 13,786,955.22 ( ) 26,956,505.39 ( ) (3,962,601.17) (11,734,258.96) 4,815,277.71 2. 3. : 20,878,561.91 : 26,191,579.05 : (5,313,017.14) : : : 26

: : 2001-12-31 2002-12-31 19,239,973.19 16,526,147.84 13,869,302.21 13,234,714.61 4,048,087.04 2,081,066.70 29,061,188.36 27,679,795.75 14,460,674.08 13,015,850.97 8,773,299.57 8,868,804.60 3,204,915.60 2,081,066.70 20,029,058.05 19,803,588.87 4,779,299.11 3,510,296.87 5,096,002.64 4,365,910.01 843,171.44 9,032,130.31 7,876,206.88 -- -- -- -- -- -- -- -- -- -- -- -- -- - -- -- -- -- 2,114,774.45 1,456,746.70 413,001.97 413,001.97 201,679.75 2,326,096.67 1,869,748.67 1,578,444.53 1,251,909.88 201,679.75 1,376,764.78 1,251,909.88 204,836.82 204,836.82 413,001.97 413,001.97 617,838.79 617,838.79 331,493.10 331,493.10 1,192,700.00 1,192,700.00 1,192,700.00 1,192,700.00 1,192,700.00 1,192,700.00 1,192,700.00 1,192,700.00 7,836,700.00 7,836,700.00 -- -- 1,618,945.79 1,618,945.79 6,217,754.21 6,217,754.21 4,764,285.60 4,764,285.60 -- -- 415,889.36 415,889.36 4,348,396.24 4,348,396.24 692,894.18 692,894.18 -- -- 178,967.59 178,967.59 513,926.59 513,926.59 -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- -- 647,336.22 647,336.22 647,336.22 647,336.22 -- -- -- -- -- -- : : : 27

: 2002 200,510,000.00 200,510,000.00 264,296,624.62 240,177.06 264,536,801.68 8,779,385.81 8,779,385.81 8,779,385.81 : 8,779,385.81 8,779,385.81 979,143.31 (58,888,709.77) (57,909,566.46) : : : 28

. 1997 4 10 [1997]23 [1997]332 3500 350 1 1997 7 8 1997 6 30 9,905.00 5400001000707 3/3 1999 2 3 1999 3 16 1999 3 17 1998 12 31 9,905.00 10 4 10 5 18,819.50 1999 5 10 [1999]133 2000 1,231.50 20,051.00 5 7 1.5 2 50 100 500 700 2000 3000 29

. 1. 2. 1 1 12 31 3. 4., 5. ( ) 6. [1995]11 7. 30

8,, 9. : 5% 8% 10% 20% 10.,.6 11. (1) / (2) (3) 10 31

10 (4).8.3 12. 1 2,000.00 2 3 (4) ( 5%) ( ) (%) 20-35 4.75-2.71 12 7.92 10-20 9.50-4.75 10 9.50 5 19.00 10 9.50 10 9.50 32

.9 13.,, (1) 3 (2) (3).11 14.,,, 15. ( ) ( ) ( ) ( ) ( ) ( ) ( ).12 33

16. :(1) 1996 1 10 2 1999 12 5 3 1998 7 5.13 17. (1) (2) 18.,,,, 19. 20. 1998 1,372,090.61 2000 1,423,857.31 2001 1,030,982.26 2002 2001 2001 1,030,982.26 2,319,653.68 2001 2,795,947.93 21. [1995]11 (1996)2 ( ) ( ) [1999]10 2002 1 1 34

. 1 * 13% 17% ** 30 / 5% *** 5% 7% 15% 33% * 1994 022 13% ** 1994 30 *** 5% 7% 2 1997 21 1997 40 1997 6 30 15% 33%.20. 1 35 1,000,000.00 510,000.00 51% * 30,000,000.00 16,069,051.28 50% 1,000,000.00 510,000.00 51% 15,640,000.00 10,445,449.48 66.69% 880,000.00 792,000.00 90% 34,030,000.00 17,500,000.00 51% 650,000.00 422,500.00 65%

800,000.00 408,000.00 51% * * 2002 12 31 2002 2002 2002 12 31 2002 2002 0.94% 4.21% 0.67% [1996] 2 2 2002 12 18 78.59% 2002 9 30 2001 2002 2002 1 1 9 30 2002 12 31 46,037,595.31 48,710.363.32 2002 10,000.00 3 : 33,504,000.00 3,000,000.00 8.95% 1,600,000.00 600,000.00 37.5% 680,000.00 306,000.00 45% 10,000,000.00 9,000,000.00 40% 1,792,000.00 286,700.00 16% 100,000,000.00 37,876,320.00 30%. 1 2002-12-31 2001-12-31 123,330.21 210,749.10 36,948,532.18 31,444,550.08 * 4,061,901.95 2,178,688.81 41,133,764.34 33,833,987.99 * 2 2002-12-31 2001-12-31 36

14,163,909.00 16,712,370.80 14,163,909.00 16,712,370.80 2002 12 31 804,774.00 3 2002-12-31 2001-12-31 100,692,303.40 51.05% 5,034,615.16 95,657,688.24 125,496,522.20 59.93% 6,274,826.11 119,221,696.09 19,944,011.86 10.11% 1,595,520.95 18,348,490.91 55,435,035.25 26.47% 4,434,802.82 51,000,232.43 19,260,162.49 9.76% 1,926,016.25 17,334,146.24 26,140,741.30 12.48% 2,614,074.13 23,526,667.17 57,364,528.43* 29.08% 11,472,905.69 45,891,622.74 2,347,456.80 1.12% 1,136,971.02 1,210,485.78 197,261,006.18 100% 20,029,058.05 177,231,948.13 209,419,755.55 100% 14,460,674.08 194,959,081.47 * 23,684,628.14 20% 2002 5%( 5%) 23,684,628.14 1999-2002 21,864,596.22 1999-2001 12,741,484.77 2002 11,649,720.12 2001-2002 9,829,846.11 1999-2002 79,770,275.36 40.44% 4 2002-12-31 2001-12-31 16,491,383.61 21.55% 824,569.18 15,666,814.43 51,833,990.31 71.21% 2,578,099.64 49,255,890.67 34,471,198.37 45.05% 2,757,695.87 31,713,502.50 14,307,485.61 19.66% 1,144,598.85 13,162,886.76 16,761,443.84* 21.91% 2,091,969.10 14,669,474.74 2,727,259.51 3.75% 272,725.95 2,454,533.56 8,789,480.85** 11.49% 3,357,896.16 5,431,584.69 3,919,373.36 5.38% 783,874.67 3,135,498.69 76,513,506.67 100% 9,032,130.31 67,481,376.36 72,788,108.79 100% 4,779,299.11 68,008,809.68 * 462,027.46 37

** 2,000,000.00 5%( 5%) 54,798,835.88.6 54,798,835.88 2000-2002 3,000,000.00 2000 2,410,902.96 2000 2001 2,000,000.00 1999 1,414,351.37 2001 2002 63,624,090.21 83.15% 5 2002-12-31 2001-12-31 (%) (%) 9,385,958.47 96.76 1,476,607.71 13.36 214,695.30 2.21 8,225,075.67 74.42 100,267.50 1.03 4,427.50 0.04 1,345,546.40 12.18 9,700,921.27 100.00 11,051,657.28 100.00 314,962.80 5%( 5%) 1,760,000.00 2002 870,000.00 2002 762,500.00 2002 739,660.00 2002 732,820.00 2002 4,864,980.00 50.15% 6 38

2002-12-31 2001-12-31 24,342,367.71 1,376,764.78 22,965,602.93 40,733,691.01 1,578,444.53 39,155,246.48 34,061,894.36 617,838.79 33,444,055.57 50,566,450.48 204,836.82 50,361,613.66 244,617.90 244,617.90 538,723.55 538,723.55 1,287,328.12 1,287,328.12 1,797,212.49 1,797,212.49 22,870,306.60 331,493.10 22,538,813.50 18,685,338.04 331,493.10 18,353,844.94 82,806,514.69 2,326,096.67 80,480,418.02 112,321,415.57 2,114,774.45 110,206,641.12 22,020.00 7,340,000.00 2002 45,611,271.51 41.04% 7 2002-12-31 2001-12-31 32,916.65 133,825.70 67,011.64 81,856.47 87,085.70 1,389,572.49 187,013.99 1,605,254.66 8 : 2002-1-1 2002-12-31 *1 46,883,200.74 4,599,505.63 51,482,706.37 1,192,700.00 1,192,700.00 *2 156,566.31 (67,696.57) (4,468.17) 93,337.91 47,039,767.05 3,339,109.06 (4,468.17) 50,383,344.28 39

*1 : 2002-12-31 * 20 33,504,000.00 3,000,000.00 8.95% 3,000,000.00 ** 6 286,700.00 16% 286,700.00 * 2003 2 3,286,700.00 286,700.00 3,000,000.00 ** : 2002-12-31 * 6 600,000.00 600,000.00 600,000.00 37.5% * 6 306,000.00 306,000.00 306,000.00 45% ** 70 9,000,000.00 9,000,000.00 40% 510,000.00 (443,948.35) 66,051.65 51% *** 37,876,320.00 37,876,320.00 30% 408,000.00 (60,365.28) 347,634.72 51% 48,700,320.00 (504,313.63) 48,196,006.37 906,000.00 * ** *** *2 * (16,499.48) (1,649.95) (11,137.15) ** (30,026.98) (3,002.70) (21,018.89) *** (67,696.57) (22,565.52) (45,131.05) **** 227,500.00 22,750.00 170,625.00 113,276.97 (4,468.17) 93,337.91 : * 1999 1999 10 10 ** 2000 2000 1 10 40

*** 2002 2002 4 3 **** 2000 2000 7 10 9 2002-1-1 2002-12-31 152,387,414.65 10,788,671.39 18,992,716.21 144,183,369.83 47,860,167.77 6,465,884.26 18,128,649.67 36,197,402.36 20,630,275.80 3,439,178.19 24,069,453.99 31,758,232.82 3,340,628.43 3,171,753.45 31,927,107.80 5,107,897.66 369,993.85 418,831.74 5,059,059.77 241,300.42 1,400.00 242,700.42 5,488,098.97 154,028.00 1,096,903.73 4,545,223.24 263,473,388.09 24,559,784.12 41,808,854.80 246,224,317.41 26,537,420.39 5,526,491.97 3,408,547.56 28,655,364.80 9,063,776.63 2,253,237.28 2,000,120.32 9,316,893.59 13,644,391.78 2,011,307.87 15,655,699.65 14,773,241.36 2,531,259.83 1,064,187.87 16,240,313.32 2,113,753.08 949,105.72 260,717.61 2,802,141.19 42,258.49 19,900.63-62,159.12 1,770,506.48 423,521.41 151,934.79 2,042,093.10 67,945,348.21 13,714,824.71 6,885,508.15 74,774,664.77 195,528,039.88 171,449,652.64 7,836,700.00 -- 1,618,945.79 6,217,754.21 187,691,339.88 165,231,898.43 7,861,370.00 34,838,596.44 5,446,231.89 2002 12 31 88,256,988.47 3,851,022.25 1,221,402.44 4,652,982.17 77,660,000.00 10 41

2002-12-31 2001-12-31 86,268.97 176,293.83 11 4900 4600 4950 3840 4,528,782.97 8,328,245.26 3,095,607.00 15,113,291.97 1,975,302.89 5,504,263.12 38,545,493.21 ( : ) 233,393.82 233,393.82 20,000.00 228,700.00 5,798,702.63 2,190,292.85 8,237,695.48 ( : ) 572,582.99 572,582.99 4,548,782.97 611,654.29 2,700,932.74 7,861,370.00 ( : ) 1,327,966.67 50,000.00 1,377,966.67 ( : ) 8,328,245.26 3,324,307.00 20,300,340.31 647,336.22 4,943,623.23 37,543,852.02 ( : ) - 805,976.81 805,976.81 647,336.22 647,336.22 8,328,245.26 3,324,307.00 20,300,340.31 4,943,623.23 36,896,515.80 5.96% 12 : 6,605,150.00 240,000.00 6,845,150.00 2002-1-1 5,986,411.58 152,000.00 6,138,411.58 228,354.12 24,000.00 252,354.12 847,092.54 112,000.00 959,092.54 2002-12-31 5,758,057.46 128,000.00 5,886,057.46 7-61 6, 2002 12 31 4,652,982.17 42

13 : 8,192,646.74 3,461,219.71 2,005,068.02 13,658,934.47 3,277,058.76 2,523,806.92 1,287,278.44 7,088,144.12 204,394.03 204,394.03 2,015,156.92* 2,015,156.92 819,264.66 508,650.00 468,991.09 1,796,905.75 5,734,852.64 1,446,062.79 982,386.64 8,163,302.07 2,457,794.10 1,022,681.38 3,480,475.48 3 1-5 * 2002 14 2002-12-31 2001-12-31 87,900,000.00 * 48,300,000.00 2,460,000.00 ** 15,030,000.00 15,000,000.00*** 22,595,000.00 105,360,000.00 85,925,000.00 * ** *** 15 2002-12-31 2001-12-31 3,866,000.00 490,000.00 16 2002-12-31 2001-12-31 43 (%) (%) 10,048,195.81 38.83 27,290,234.06 65.81 4,214,447.97 16.28 10,730,784.22 25.87 9,036,574.89 34.92 578,028.02 1.39

2,580,758.26 9.97 2,873,873.33 6.93 25,879,976.93 100.00 41,472,919.63 100.00 5%( 5%) 2002 12 31 2,923,011.80 2000-2002 1,740,000.00 2001 2002 1,734,632.00 2000 895,063.47 2000 812,411.00 2002 8,105,118.27 31.32% 17 2002-12-31 2001-12-31 (%) (%) 846,204.20 85.43 840,849.34 80.92 136,330.17 13.76 7,950.00 0.76 7,950.00 0.81 190,395.37 18.32 990,484.37 100.00% 1,039,194.71 100.00 5%( 5%) 2002 12 31 18 2002-1-1 2002-12-31 594,208.15 10,698,836.72 10,746,228.78 546,816.09 19 2002-1-1 2002-12-31 2,336,817.41 1,435,839.81 1,248,947.50 2,523,709.72 44

20 2002-12-31 2001-12-31 1,206,555.00 247,095.00 190,095.00 114,000.00 94,905.00 1,155,000.00 3,007,650.00 21 2002-12-31 2001-12-31 956,646.50 (64,880.28) 377,272.16 1,476,729.76 9,974.62 (631.97) 257,296.56 147,594.30 45,978.63 166,667.65 239,632.66 1,409,826.03 1,886,801.13 3,135,305.49 22 2002-12-31 2001-12-31 25,267.31 192,308.56 103,778.48 129,045.79 192,308.56 23 2002-12-31 2001-12-31 (%) (%) 2,670,681.24 29.07 3,607,865.57 23.50 2,003,192.96 21.81 8,363,972.85 54.48 1,324,767.46 14.42 1,198,744.14 7.81 3,187,882.19 34.70 2,182,065.18 14.21 9,186,523.85 100.00 15,352,647.74 100.00 5%( 5%) 45

24 2002-12-31 2001-12-31 1,040,846.96 3,113,117.21 394,974.00 463,781.48 1,098,335.05 1,504,628.44 4,606,426.26 25 2002-12-31 2001-12-31 12,000,000.00 11,900,000.00 21,500,000.00 45,400,000.00 26 2002-12-31 2001-12-31 49,280,000.00* 10,000,000.00 49,280,000.00 10,000,000.00 392.80% (1) 27,280,000.00 (2) 10,000,000.00 (3) 2,000,000.00 * 37,280,000.00 10,000,000.00 2,000,000.00 27 2002-1-1. ( ) 2002-12-31 1. 123,510,000.00 123,510,000.00 : 123,510,000.00 123,510,000.00 2. : 46

123,510,000.00 123,510,000.00. 77,000,000.00 77,000,000.00. 200,510,000.00 200,510,000.00 [2000] 001 28 2002-1-1 2002-12-31 255,887,487.82 255,887,487.82 7,046,470.80 7,046,470.80 1,362,666.00 240,177.06* 1,602,843.06 264,296,624.62 240,177.06 264,536,801.68 * 29 2002-1-1 2002-12-31 8,779,385.81 8,779,385.81 8,779,385.81 8,779,385.81 17,558,771.62 17,558,771.62 30 2002-12-31 (58,888,709.77) : * 979,143.31 (57,909,566.46) (57,909,566.46) * 2001 1,771,231.83 792,088.52 (1) 1998 1,372,090.61 1,097,672.47 47

(2) 2000 1,423,857.31 2001 1,030,982.26 397,195.40 (3).21 2001 878,474.19 702,779.35 31 2002 2001 16,935,054.92 25,390,723.28 50,543,539.10 58,864,063.04 91,767,330.59 98,761,623.43 159,245,924.61 183,016,409.75 2002 54,918,649.42 34.49% 2002 2001 141,342,785.01 166,991,354.19 6,462,303.00 7,522,536.32 5,581,465.29 8,502,519.24 5,859,371.31 159,245,924.61 183,016,409.75 32 2002 2001 ( ) 144,739,227.44 132,251,504.37 2002 2001 129,888,017.05 117,743,455.89 5,523,426.22 8,353,487.66 3,903,688.28 6,154,560.82 5,424,095.89 144,739,227.44 132,251,504.37 33 2002 2001 48

822,608.80 2,313,846.96 382,947.53 160,066.63 217,189.94 507,722.99 115,690.45 281,837.73 17,718.15 13,444.77 1,556,154.87 3,276,919.08 34 2002 2001 46,555.77 93,229.79 (10,486.02) (43,382.35) 262,989.60 670,634.49 299,059.35 720,481.93 35. 2002 2001 1,040,000.00* 1,170,470.00 * [1997] 24, 98 48 2002 1,040,000.00 36 2002 2001 * 5,939,903.63 5,985,443.70 233,267.56 915,468.92 46,061.92 25,019.53 (13,920.00) 49,304.67 5,738,777.99 5,144,298.98 * 2.52% 37 2002 2001 10,000.00 (400,494.37) (128,951.81) 4,468.17 (24,407.23) 49

(1,192,700.00) (1,578,726.20) (153,359.04) 38 2002 2001 5,500.00 93,236.62 9,209.30 15,228.33 174,499.80 144,992.98 189,209.10 253,457.93 39 2002 2001 2,903,177.77 17,007.67 103,986.21 189,500.00 44,655.35 * (1,521,832.56) 647,336.22 8,191,242.96 3,583,411.64 ** 1,890,305.91 508,920.45 12,316,737.97 4,240,973.65 * ** 190.42% 1 (2) (3) 40 2002 2001 295,626.31 950,274.59 1,684,000.00* 295,626.31 (733,725.41) * 2001 50

41 2002 12,508,396.06 233,267.56 11,518,567.80 24,260,231.42 42 2002 9,600,817.63 14,664,735.41 18,949,686.44 10,939,937.62 54,155,177.10 43 2002 2001 (2,823,556.38) (1,001,290.92) (474,168.92) (3,117,728.27) (404,305.27) (6,942,575.57) (878,474.19) 44 72.73% 45 30.32% 46 167.10% 47 1294.95% 48 3609.79% 49 404.37% 51

50 1237.47%. 1 2002-12-31 2001-12-31 % % 114,123,580.24 54.55 4,931,813.65 159,962,966.98 67.09 5,922,842.22 18,570,296.23 8.88 1,485,623.70 51,357,899.40 21.54 4,108,631.95 19,132,458.43 9.15 1,913,245.84 24,361,669.20 10.22 2,436,166.92 57,364,528.43 27.42 11,472,905.68 2,741,049.42 1.15 548,209.88 209,190,863.33 100.00 19,803,588.87 238,423,585.00 100.00 13,015,850.97 2 2002-12-31 2001-12-31 % % 29,893,591.88 37.25 794,450.67 62,801,237.20 85.67 2,293,359.70 34,332,033.69 42.78 2,746,562.70 7,273,639.24 9.92 589,891.14 8,867,664.18 11.05 1,302,591.13 185,253.75 0.25 18,525.38 7,163,011.93 8.92 3,032,602.38 3,042,603.25 4.16 608,520.65 80,256,301.68 100.00 7,876,206.88 73,302,733.44 100.00 3,510,296.87 3 2002-1-1 2002-12-31 * 84,016,980.09 11,312,867.02 1,192,700.00 5,597,861.28 89,731,985.83 1,192,700.00 * 6 600,000.00 37.5% 600,000.00 20 3,000,000.00 8.95% 6 306,000.00 45% 306,000.00 52

70 9,000,000.00 40% 6 286,700.00 16% 286,700.00 70 37,855,301.11 30% 510,000.00 (443,948.36) 51% 6 16,023,920.23 (799,941.07) 50% 6 510,000.00 123,404.02 51% 50 10,434,312.33 (2,410,517.63) 66.69% 5 792,000.00 (792,000.00) 90% 5 17,500,000.00 (3,281,504.52) 51% 4 593,125.00 (422,500.00) 65% 20 408,000.00 (60,365.28) 51% 97,819,358.67 (8,087,372.84) 1,192,700.00 4 2002 2001 21,721,842.17 61,376,248.90 46,233,240.31 53,074,821.36 82,382,631.09 88,847,268.85 150,337,713.57 203,298,339.11 5 2002 2001 ( ) 136,173,068.63 152,831,258.93 6 2002 2001 : 10,000.00 (10,189,462.43) (4,255,152.34) 4,468.17 (24,207.23) (1,192,700.00) (11,367,694.26) (4,279,359.57). 1 : 53

2 33,230,000.00 33,230,000.00 1,000,000.00 1,000,000.00 800,000.00 800,000.00 3 % % % % 80,437,000.00 41.78 80,437,000.00 41.78 510,000.00 51.00 510,000.00 51.00 408,000.00 51.00 408,000.00 51.00 4 5 A : 54

2002 2001 % % 7,610,619.84 12.14 4,464,000.00 7.12 1,636,622.00 2.61 B.2 2002 12 18 78.59% 10,000.00 C 6,138,102.55 5,000,000.00 6 2002-12-31 2001-12-31 % 2002-12-31 2001-12-31 : 23,684,628.14 12.01 927,292.61 0.44 : 54,798,835.88 49,910,372.49 71.62 68.56 1,414,351.37 144,799.30 1.85 0.20 2,000,000.00 2,000,000.00 2.61 2.75 462,027.46 0.60 2,710,902.96 1,265,004.25 3.54 1.74 113,369.82 0.15 996,040.00 996,040.00 1.28 1.37 : 13,938.10 128,377.20 0.14 0.84 55

. 1 2002 12 31, : 27,500,000.00 2 2002 5 50,000,000.00 2002 12 31. 2002 12 31 5,740,814.16 2002 12 31. 2002 12 31 2,166,972.37 804,774.00 22,020 88,256,988.47 3,851,022.25 1,221,402.44 4,652.982.17. 1 2003 2 17 3,000,000.00 2 2003 2 17 3 27 10,200,000.00 3 2003 4 6 2002. 2002, 42,121,333.69 8,191,242.96. 2002 12 31. 2002 2001 56

O O 57