目 录

2004 --- 2 --- 2 --- 3 --- 4 --- 5 --- 7 --- 11 --- 49 1

2004 9 8 1 CHINA UNITED TRAVEL CO., LTD. CUTC 2 600358 3 89 18 A 210029 http://www.cutc.com.cn webmaster@cutc.com.cn 4 5 89 18 A 210029 025 84700026 025 84702099 yanchenguang@cutc.com.cn 6 http://www.sse.com.cn 2004 6 30 2003 12 31 %(+,-) 1,928,916,720.27 1,621,301,232.43 18.97 1,948,375,865.85 1,714,430,553.52 13.65 2,688,836,650.95 2,369,172,316.24 13.49 435,760,819.90 424,742,594.88 2.59 2.08 2.02 2.97 2

2004 1.76 1.62 8.64 2004 1-6 2003 1-6 % + - 10,952,187.41 7,544,097.03 45.18 7,130,655.20 4,279,321.55 66.63 0.05 0.04 25.00 2.51 1.78 0.73-86,243,433.76 4,906,407.70-16.54 3,427,943.02 1,256,979.60 863,390.41 3,821,532.21 1 20535 2 1 49,351,350 23.50 2 30,246,000 14.40 3 25,680,450 12.23 4 12,000,000 5.71 5 10,132,500 4.83 6 7,589,700 3.61 7 2,551,012 1.21 8 424,700 0.20 3

2004 9 280,300 0.13 10 255,905 0.12 4 2003 6 25 2004 3 25 13,860,450 1 10 6 2 7 10 3 1 2,551,012 1.21 2 424,700 0.20 3 280,300 0.13 4 255,905 0.12 5 225,500 0.11 6 187,300 0.09 7 180,100 0.09 8 174,700 0.08 9 160,000 0.08 10 153,900 0.07 25,680,450 13,860,045 2350 5 2003 6 25 2008 6 24 2003 7 8 2500 2004 3 24 2008 6 24 2004 3 25 2004 3 29 1 61 2002 04 25 2005 04 24 40 2002 04 25 2005 04 24 46 2002 04 25 2005 04 24 52 2002 04 25 2005 04 24 46 2002 04 25 2005 04 24 40 2002 04 25 2005 04 24 4

2004 44 2002 04 25 2005 04 24 46 2002 04 25 2005 04 24 40 2002 04 25 2005 04 24 61 2002 04 25 2005 04 24 33 2002 04 25 2005 04 24 55 2002 04 25 2005 04 24 41 2002 12 31 2004 12 31 51 2002 12 31 2004 12 31 45 2002 12 31 2005 04 24 56 2003 10 26 2004 12 31 37 2004 02 21 2005 04 24 2004 2 2004 2004 2 24 1 2004 10,952,187.41 % (2004.01-06) (2003.01-06) 289,866,531.27 37,389,063.08 675.27 78,988,125.47 19,989,796.29 295.14 10,952,187.41 7,544,097.03 45.18 675.27% 295.14% 45.18% 2 % 2,688,836,650.95 2,369,172,316.24 13.49 435,760,819.90 424,742,594.88 2.59 13.49% 5

2004 2.59%, 3 % (%) (%) (%) 17,168,731.56 13,320,132.49 22.42 13.48 9.60 2.75 11,910,340.39 2,992,557.05 74.87 739.49 2372.08-16.60 237,358,607.50 170,713,738.39 28.08 -- -- -- 23,428,851.82 9,175,513.41 60.84 12.42 115.85-18.76 289,866,531.27 196,201,941.34 289,866,531.27 10,952,187.41 45.18 23,735.86 2574.07 2,342.89, 720.49 12.42% 9.29% 15.2 1716.87 13.48% 88.51 65.44% 1 2001 13,860 13,787 2 1 2004 4 8 2004 5 31 1722, 2 2004 4 8 2004 5 31 720, 2000, 36% (3) 2004 2 21 5100 10000 51% 6

2004 2003 2003 10 8 3000 2003 3 21 2003 10 26 1,356,800.00 4 2004 5 30 1,356,800.00 4 2004 3 5 2004 118 1 2004 5 31 90%, 900, 527,943.02 2 2004 2 26 65%, 940, 2,900,000.00 3 2004 4 38.6 4,573,643.75 1,167,372.62 1 50,000,000.00 2003.08.25-2008.08.21 29,000,000.00 2004.01.20-2005.01.19 7

63,100 2004 100,000,000.00 2003.07.22-2005.07.22 100,000,000.00 2003.12.31-2004.11.30 200,000,000.00 2004.4.23-2005.04.22 14,000,000.00 2003.08.08-2004.07.30 100,000,000.00 2002.11.15-2004.11.14 15,000,000.00 2003.12.18-2004.12.15 73,000,000.00 2004.03.25-2005.01.24 681,000,000.00 5,000 2 1 2-5,974,000.00 19,375,598.56-60,000.00 8,599,118.00 2,039,262.15-56,044,746.50 5,479,051.50 294,791.46 752,307.70 2,052,307.70 3,186,049.47 15,252,396.02 358,507,902.08 5,910,000.00 10,255,000.00 0.00 654,000.00 940,000.00 940,000.00 5,000,000.00 5,000,000.00-55,386,438.80 47,620,178.84 8 21,162,396.02 368,762,902.08 3 2004 6 30 4762 2004 597.4 5 604.47 5 000 12 631 00 60 200 40 000

2004 1 2000 7 2 2003 3 11 41% 5 5 2004 1 30 2 5 5 2004 50 04-2-6 01 1 2004 04-2-24 02 2 2004 04-3-29 03 13,860,450 2004 2003 04-4-13 04 2003 2003 2003 2003 2004 1.02 9

2004 1722 2003 1 2003 2 2003 2004 3 2003 04-4-13 05 4 2003 5 2004 1 2003 2 2003 3 2003 4 2003 2004 04-5-14 06 5 2003 6 2004 7 8 10

2004 2004 1 1 2004 6 30 [1998]834 ( ) 1998 12 29 3200001104351 9,000 2000 8 29 2000 120 2000 9 4 5,000 14,000 2002 8 29, 10 5 7,000 2004 6 30 21,000 21,000 ( ) 1 1 12 31 11

2004 6 7 1 2 3 8 1 a. b. 3 C. 2 1 1 1 2 5 2 3 15 3 30 9 1 A B 12

2004 13 2 A B 30 3 10 1 a 20% 20% 20% 20% 20% 20% b 10 < > 10 < > 2 a

2004 b 3 11 1 2000 2 3 4 5 2 3 4 % % 3% 20-40 4.85%-2.43% 3% 8-15 12.13%-6.47% 3% 5-10 19.40%-9.70% 3% 5-10 19.40%-9.70% 3% 5 19.40% 1 6 1) 2) 3) 4) 5) 14

2004 6) 12 1 2 3 1) 3 2) 3) 13 1 : 3 2 : A 1) 2) 3) B C 14 1 15

2004 2 10 3 1) 2) 3) 4) 15 16 17 18 1 2 19 1 1) 2) 3) 2 20 : 1) 2) 16

2004 17 3) - 50 50 21 1 2 3 4 5 22 23 24 1 50% 50% 2 3 [2002]18

2004 4 1 2004 33% 15% 7.5% 33% 2 17% 17% 3 3% 5% 4 1%-7% 3%-4% 5 70% 1.2% 6 7 1 RMB % RMB *1 2,710.00 73.80 2,000.00 *2 14,000.00 99.00 13,860.00 *3 USD523.05 75.00 2037.00 *4 3,200.00 40.00 8,000.00 *5 5,000.00 41.00 7,500.38 *6 10 000.00 51.00 5,100.00 2,980.00 12.00 1,864.53 7,000.00 38.57 3,163.77 2,000.00 36.00 720.00 50.00 1.00 0.50 18

2004 *1 RMB % RMB 600.00 87.39 590.48 100.00 19.00 12.60 1000.00 25.00 250.00 *2 : RMB % RMB 300.00 60.00 180.00 100.00 50.00 50.00 1000.00 95.00 950.00 1000.00 95.00 950.00 50.00 99.00 49.50 *3 *4 RMB % RMB 200.00 72.50 145.00 2004 4 8 2004 5 31 1722 RMB % RMB 500.00 60.00 300.00 200.00 90.00 180.00 1000.00 19.00 104.33 100.00 10.00 10.00 * 50.00 40.00 80.00 *,. *5 RMB % RMB 7,333.00 80.00 4,927.39 28,000.00 7,418.00 81.029 19.00 12,039.17 474.80 2 19

2004 1 2004 2 21 5100 10000 51% 2 2004 5 31 90% 900 527,943.02 3 180 2004 3 200 90% 4.1.1.*4 1 2004 6 30 2003 456,461.00 387,220.35 202,737,117.53 218,362,677.94 * 10,019,980.05 22,003,446.67 213,213,558.58 240,753,344.96 11.44% 2 1 2004 6 30 2003 1 160,716,056.32 95.06 1,607,160.56 65,167,105.12 79.37 651,671.05 1 2 8,354,629.72 4.94 417,731.49 16,903,004.79 20.59 845,150.24 2 3 0.00 0.00 0.00 34,420.32 0.04 5,163.05 3 0.00 0.00 0.00 0.00 0.00 0.00 169,070,686.04 100.00 2,024,892.05 82,104,530.23 100.00 1,501,984.34 146.62 (1) 9 (2) 5% 5% (3) 144,339,965.00 85.37% 3 20

2004 1 2004 6 30 2003 % % 1 71,019,721.67 40.68 710,197.22 58,621,745.58 36.79 530,462.87 1 2 53,313,671.04 30.54 2,674,658.76 23,005,932.89 14.75 884,370.26 2 3 5,303,052.39 3.04 795,457.86 9,188,486.31 5.89 1,264,887.89 3 44,942,618.70 25.74 5,937,534.89 66,384,310.67 42.57 7,654,697.81 174,579,063.80 100.00 10,117,848.73 157,200,475.45 100.00 10,334,418.83 8 1 11.06% 2 5% 5% 3 47,012,081.32 26.93% 4 2004 6 30 2003 % % 1 2,540,978.72 100.00 1,250,299.40 100.00 1 2 0.00 0.00 0.00 0.00 2 3 0.00 0.00 0.00 0.00 3 0.00 0.00 0.00 0.00 2,540,978.72 100.00 1,250,299.40 100.00 5 2004 6 30 2003 23,007,598.17 0.00 18,750,586.98 0.00 930,306.74 0.00 1,949,372.39 0.00 1,037,657.07 0.00 1,901,153.70 0.00 63,687,755.15 0.00 64,172,759.15 0.00 21,185,871.85 0.00 21,510,709.01 0.00 37,341,537.62 0.00 27,404,037.62 0.00 1,209,395,479.78 0.00 985,933,884.83 0.00 0.00 0.00 0.00 0.00 0.00 0.00 5,253,351.41 0.00 1,356,586,206.38 0.00 1,126,875,855.09 0.00 30.38%. ( ) 2004 6 30 2002 2005 49,889.05 342,697,363.28 383,755,200.81 21

2004 2001 2005 460,102.30 643,236,521.55 756,640,278.97 2004 2005 20,000.00 0.00 59,000,000.00 2004 2005 30,000.00 0.00 10,000,000.00 985,933,884.83 1,209,395,479.78 2004 6 30 95.5 194,580.00 0.00 0.00 194,580.00 99 9,641,072.00 0.00 0.00 9,641,072.00 99 2,500,924.00 130,000.00 396,454.00 2,234,470.00 94.6 655,650.00 218,550.00 437,100.00 96.11 192,813.00 192,813.00 94 1,221,986.00 1,221,986.00 94.11 532,454.00 532,454.00 761 94.12 1,132,661.00 1,132,661.00 95.5 149,178.00 149,178.00 93.12 2,612,260.00 2,612,260.00 5 94.11 860,105.00 860,105.00 1 2 5 2003 44,479,076.15 44,479,076.15 64,172,759.15 130,000.00 615,004.00 63,687,755.15 2004 6 30 8,353,488.73 0.00 332,534.97 8,020,953.76 960,174.67 0.00 16,320.24 943,854.43 4,734,511.04 0.00 80,473.32 4,654,037.72 3,341,230.09 0.00 56,791.38 3,284,438.71 172,541.66 0.00 2,932.74 169,608.92 5 3,501,460.12 0.00 59,514.90 3,441,945.22 447,302.7 0.00 7,602.90 439,699.80 0.00 240,000.00 8,666.71 231,333.29 21,510,709.01 240,000.00 564,837.16 21,185,871.85 2004 6 30 27,404,037.62 10,391,980.00 454,480.00 37,341,537.62 ** 22

2004 6 2004 6 30 2003 937,980.37 1,348,101.45 241,058.32 8,350.00 * 23,310,619.97 23,310,619.97 579,308.87 286,059.05 25,068,967.53 24,953,130.47 * 7 2004 6 30 2003 1,526,764.01 1,319,961.41 1,526,764.01 1,319,961.41 58,849,778.35 1,250,000.00 57,773,110.80 1,250,000.00 131,685.11 0.00 131,685.11 0.00 97,830,411.95 0.00 99,199,050.50 0.00-2,041,000.95 0.00-2,177,067.39 0.00 156,297,638.47 2,569,961.41 156,453,543.03 2,569,961.41 153,727,677.06 153,883,581.62 2 22,240 534,952.21 534,952.21 520,051.41 520,051.41 14,900.80 8,900 49,751.00 49,751.00 22,606.00 22,606.00 92,560.00 104,000 615,680.00 615,680.00 523,120.00 523,120.00 27,145.00 42720 326,380.80 326,380.80 254,184.00 254,184.00 72,196.80 1,526,764.01 1,526,764.01 1,319,961.41 1,319,961.41 206,802.60 * 206,802.60 (3) 2003.12.31 2004.6.30 1,250,000.00 1,250,000.00 1,250,000.00 1,250,000.00 126,025.06 0.00 126,025.06 0.00 9,000,000.00 0.00 6,500,000.00 2,500,000.00 0.00-529,152.82 0.00-529,152.82 0.00 23

2004 23,389,627.56 0.00-395,286.45 22,994,341.11 0.00 18,645,304.92 0.00 18,645,304.92 0.00 1,043,305.19 0.00 1,043,305.19 0.00 0.00 0.00 7,200,000.00 301,954.00 7,501,954.00 0.00 100,000.00 0.00 100,000.00 0.00 0.00 0.00 400,000.00 400,000.00 0.00 4,748,000.89 0.00 4,748,000.89 0.00 70,000.00 70,000.00 0.00 57,773,110.80 1,250,000.00 7,670,000.00-93,332.45 6,500,000.00 58,849,778.35 1,250,000.00 2004 6 30 (%) 30 50.00 1,250,000.00 0.00 1,250,000.00 1,250,000.00 1,250,000.00 10 19.00 126,025.06 0.00 126,025.06 20 25.00 2,500,000.00 0.00 2,500,000.00 87.39 18,478,344.00-19,007,496.82-529,152.82 20 38.57 29,442,728.57-395,286.45-6,448,387.46 22,994,341.11 52 12.00 18,645,304.92 18,645,304.92 20 36.00 7,200,000.00 301,954.00 301,954.00 7,501,954.00 *1 10 19.00 1,043,305.19 1,043,305.19 20 10.00 100,000.00 100,000.00 20 19.00 4,748,000.89 4,748,000.89 20 80.00 400,000.00 400,000.00 10 70.00 70,000.00 70,000.00 84,003,708.63-93,332.45-25,153,930.28 58,849,778.35 1,250,000.00 1,250,000.00 *1 2004 4 8 2004 5 31 720 * ** *** 4 2003.12.31 2003.06.30 * 131,685.11 0.00 0.00 131,685.11 24

2004 131,685.11 0.00 0.00 131,685.11 5 2003.12.31 2004.06.30 10-1,141,053.65-798,737.57-57,052.68-399,368.76-741,684.89 50 44,211,538.24 42,377,464.78 443,743.08 2,277,816.54 41,933,721.70 10 661,441.02 529,152.82 0.00 132,288.20 529,152.82 35 53,987,819.88 53,088,022.86 769,391.64 1,669,188.66 52,318,631.22 10 1,574,296.12 1,482,462.18 78,714.81 170,548.75 1,403,747.37 10 2,676,834.09 2,520,685.43 133,841.70 289,990.36 2,386,843.73 101,970,875.70 99,199,050.50 1,368,638.55 4,140,463.75 97,830,411.95 (6) 2003.12.31 2004.6.30 10-2,442,728.57-2,177,067.39-136,066.44-401,727.62-2,041,000.95-2,442,728.57-2,177,067.39-136,066.44-401,727.62-2,041,000.95 8 25

2004 2004 1 1 390,706,644.49 129,042,806.11 23,651,503.05 17,593,301.55 10,130,347.62 571,124,602.82 1,866,352.25 10,560.00 740,801.03 2,742,497.00 232,784.00 5,592,994.28 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 919,568.00 736,802.81 285,116.80 525,000.00 65,108.05 2,531,595.66 919,568.00 736,802.81 146,866.80 525,000.00 65,108.05 2,393,345.66 2004 6 30 391,653,428.74 128,316,563.30 24,107,187.28 19,810,798.55 10,298,023.57 574,186,001.44 2003 12 31 56,398,949.77 67,060,356.15 14,352,092.89 10,735,292.55 3,934,542.76 152,481,234.12 4,623,455.96 3,395,416.45 2,744,157.24 848,279.89 618,108.49 12,229,418.03 183,849.83 41,923.68 158,515.12 525,000.00 68,755.96 978,044.59 2004 6 30 60,838,555.90 70,413,848.92 16,937,735.01 11,058,572.44 4,483,895.29 163,732,607.56 2004 1 1 334,307,694.72 61,982,449.96 9,299,410.16 6,858,009.00 6,195,804.86 418,643,368.70 2004 6 30 330,814,872.84 57,902,714.38 7,169,452.27 8,752,226.11 5814128.28 410,453,393.88 0.00 0.00 0.00 0.00 0.00 0.00 * ** 2004 6 30, 9 1 2003 ( ) 2004 6 30 500 4,813,959.22 4,813,959.22 98% * 18,560 116,323,213.80 21,548,272.33 137,871,486.13 63% 43 432,075.00 432,075.00 15,551,434.75 15,551,434.75 137,120,682.77 21,548,272.33 158,668,955.10 * 2002, 89,105,870.00 10 1 2003 2004 6 30 82,512.00 61,593.33 4,111.66 25,030.33 57,481.67 3 49,185,663.05 39,989,463.77 6,239,507.58 287,410.26 33,462,545.93 35-49 1,757,500.00 1,462,500.04 37,700.00 76,616.66 1,423,583.38 9 1,455,000.00 1,095,000.00 90,000.00 1,005,000.00 6 26

2004 48,640.00 31,624.00 8,730.00 5,898.00 34,456.00 2 52,529,315.05 42,640,181.14 46,430.00 6,239,507.58 464,036.58 25,030.33 35,983,066.98 * 38.61 2 2 2003 2004 6 30 13,500,000.00 3,110,736.45 10,389,263.55 * 962,500.00 962,500.00 14,462,500.00 11,351,763.55 * 11 2003 2004 6 30 * 2,974,455.63 388,336.60 1,519,136.44 379,171.59 2,965,290.62 1,528,301.45 0.00 2,132,352.89 1,333,126.32 1,333,126.32 799,226.57 430,000.00 415,666.66 43,000.02 57,333.36 372,666.64 2.4 557,670.72 433,201.06 143,024.91 267,494.57 290,176.15 1-3 28,493,805.93 1,237,204.32 3,651,489.33 1,898,322.84 4,623,244.87 2,990,370.81 * 12 2003 2004 6 30 7,980,855.33 7,648,318.69 7,648,318.69 18.17 317,831.47 185,401.69 185,401.69 1.17 1,169,813.86 974,844.88 974,844.88 4.17 9,468,500.66 8,808,565.26 8,808,565.26 * 13 2004 6 30 2003 100,000,000.00 290,000,000.00 * 29,000,000.00 49,000,000.00 340,000,000.00 214,900,000.00 0.00 0.00 469,000,000.00 553,900,000.00 27

2004 * ** 14 2004 6 30 2003 122,659,554.21 109,702,436.10 122,659,554.21 109,702,436.10 11.81% 5% 5% 15 2004 6 30 2003 10,000,000.00 0.00 10,000,000.00 0.00. 16 2004 6 30 2003 251,366,557.72 141,556,510.52 50,800,000.00 50,800,000.00 302,166,557.72 192,356,510.52 *. 17 7,302,511.72. 18 2004 6 30 2003 17% 2,117,558.15 2,479,207.66 3%-5% 65,229,358.47 66,857,798.79 1%-7% 4,536,443.10 4,673,802.66 15%-33% 33,351,363.24 26,207,715.05 67,806.62 46,156.12 7,153.99 10,129.39 296,147.68 258,581.64 0.00 1,500.00 105,605,831.25 100,534,891.31 28

2004 19 2004 6 30 2003 1,951,564.40 2,013,929.11 3% 4,620.90 678.64 1,956,185.30 2,014,607.75 20 2004 6 30 2003 871,178,207.91 488,713,305.78 871,178,207.91 488,713,305.78 400,000,000.00 5% 5% 21 2004 6 30 2003 481,309.00 209,994.75 56,056,342.61 42,959,824.02 214,149.66 92,972.78 782,570.96 416,313.64 57,320,222.57 43,893,254.85 22 2004 6 30 2003 12 31 * 32,955,384.75 32,085,178.00 50,000,000.00 50,000,000.00 82,955,384.75 82,085,178.00 * ** 23 2004 6 30 2003 140,000.00 140,000.00 24 29

2004 2004 6 30 2003 26.20% 1,925,062.06 1,210,219.91 1.00% 1,418,852.52 1,416,134.72 25.00% 9,973,474.82 4,012,188.24 60.00% 63,087,348.32 58,764,411.77 40.00% 1,247,570.00 1,209,448.36 50.00% 0.00 0.00 40.00% 1,524,264.93 1,676,119.81 10.00% 0.00 941,325.17 10% 1,137,301.13 0.00 27.50% 550,000.00 550,000.00 59.00% 55,700,498.60 40,513,477.86 20.00% 11,508,579.87 11,681,211.36 18.971% 24,717,422.28 25,799,452.64 ( ) 49% 48,814,205.92 0.00 221,604,580.45 147,773,989.84 25 1 1 2003 2004 6 1 135,000,000.00 0 0 0 0 0 135,000,000.00 104,754,000.00 0 0 0 0 0 104,754,000.00 2 0 0 0 0 0 0 0 3 0 0 0 0 0 0 0 135,000,000.00 0 0 0 0 0 135,000,000.00 75,000,000.00 0 0 0 0 0 75,000,000.00 75,000,000,00 0 0 0 0 0 75,000,000,00 210,000,000.00 0 0 0 0 0 210,000,000.00 2 2004 6 30 2003 49,351,350 49,351,350 30,246,000 30,246,000 25,680,450 25,680,450 12,000,000 12,000,000 ( ) 10,132,500 10,132,500 7,589,700 7,589,700 75,000,000.00 75,000,000.00 210,000,000.00 210,000,000.00 30

2004 26 2003 12 30 2004.6.30 203,034,847.74 0.00 0.00 203,034,847.74 4,932,328.05 0.00 0.00 4,932,328.05 207,967,175.79 0.00 0.00 207,967,175.79 27 2004 6 30 2003.12.31 8,712,817.00 8,778,854.61 8,712,817.00 8,778,854.61 2004 6 30-7,936,113.53 2004 6 30-776,703.47 28 2003 2004 6 30 704,990.14 0.00 0.00 704,990.14 352,495.07 0.00 0.00 352,495.07 1,057,485.21 0.00 0.00 1,057,485.21 29 2004 6 30 2003 16,372,703.47 8,739,612.28-2,000,539.74-401,674.18 14,372,163.73 8,337,938.10 10,952,187.41 7,091,710.84 0.00 704,990.14 0.00 352,495.07 0.00 0.00 25,324,351.14 14,372,163.73 1 2003 16,372,703.47, 2,000,539.74 : 2003 2003 885,684.51 2003 885,684.51 2003 2003 950,297.11 2003 950,297.11 99% 2003 940,794.14 31

2004 2003 2003 1,267,061.35 50,682.45 2003 1,267,061.35 50,682.45 40% 2003 527,097.52 2003 235,357.62, 2003 117,678.81 30 1 2004 1-6 2003 1-6 2004 1-6 2003 1-6 17,168,731.56 15,129,185.72 13,320,132.49 12,153,866.98 * 11,910,340.39 1,418,764.40 2,992,557.05 121,054.78 ** 237,358,607.50 0.00 170,713,738.39 0.00 23,428,851.82 20,841,112.96 9,175,513.41 4,250,934.59 289,866,531.27 37,389,063.08 196,201,941.34 16,525,856.35 * 739.49% ** 31 2004 1-6 2003 1-6 5% 13,408,399.28 754,457.87 7% 871,537.95 39,793.94 3%-4% 396,527.23 79,158.63 1%-5% 0.00 0.00 14,676,464.46 873,410.44 32 2004 1-6 2003 1-6 2,216,058.15 767,508.71 1,448,549.44 1,004,040.00 605,133.33 398,906.67 249,845.29 95,753.92 154,091.37 115,098.29 76,841.21 38,257.08 7,245,332.98 2,970,350.17 4,274,982.81 637,000.00 9,600.00 627,400.00 9,711,236.42 3,833,612.80 5,877,623.62 1,756,138.29 691,574.54 1,064,563.75 33 2004 1-6 2003 1-6 4,064,041.54 861,931.46 1,071,622.59 545,974.45 37,759.03 13,742.16 32

2004 3,030,177.98 329,699.17 * 168.43% 34 1 2004 1-6 2003 1-6 0.00 3,000,000.00-93,332.45 2,683,508.63-1,232,572.11-411,695.80 3,427,943.02 260,677.50 0.00 0.00 0.00 900,000.00 2,102,038.46 6,432,490.33 2 2004 1-6 2003 1-6 -395,286.45 176,052.20 301,954.00 0.00 2,507,456.43-93,332.45 2,683,508.63 3 1 2004 2 26 65% 2,900,000.00 2 2004 5 31 90% 527,943.02 3 35 2004 1-6 2003 1-6 * 230,676.93 0.00 230,676.93 0.00 * 36 2004 1-6 10,052,469.13 2003 1-6 4,380,014.54 129.51% 37 2004 1-6 28,152,571.32 2003 1-6 11,869,794.46 137.18% 33

2004 38 2004 1-6 2003 1-6 * 1,167,372.62 0.00 89,606.98 4,133.59 1,256,979.60 4,133.59 * 2 39 2004 1-6 2003 1-6 158,377.01 0.00 0.00 0.00 704,483.40 0.00 0.00 0.00 530.00 31.56 863,390.41 31.56 40 2004 1-6 15,506,824.85 2003 1-6 290,100.42 41 2004 1-6 2003 16,068,952.44 3,221,867.49 16,068,952.44 3,221,867.49 10,050,952.44 1 2004 6 30 2003 % % 1 23,667,615.41 21.46 236,676.15 102,996,905.22 57.25 278,156.68 1 2 38,373,604.76 34.79 1,918,680.24 26,103,915.81 14.52 1,282,445.77 2 3 46,401,228.66 42.07 6,960,184.30 50,255,199.18 27.93 7,538,279.88 3 1,862,297.09 1.68 242,098.62 545,875.06 0.30 163,762.52 110,304,745.92 100.00 9,357,639.31 179,901,895.27 100.00 9,262,644.85 34

2004 8 (1) 38.69% (2) 96.31% (3) 85,791,562.92 77.78% 2 (1) 2004 6 30 2003 354,102,697.16 0.00 262,600,359.25 0.00 3,556,719.30 0.00 3,556,719.30 0.00 91,469,667.08 0.00 92,489,682.68 0.00 449,129,083.54 0.00 360,114,652.89 0.00 449,129,083.54 358,646,761.23 2 2003.12.31 2004 6 30 3,408,940.04 0.00 2,013,563.02 5,422,503.06 0.00 23,389,627.56 0.00-395,286.45 22,994,341.11 0.00 39,176,274.51 0.00 2,881,957.70 42,058,232.21 0.00 *1 11,815,213.47 0.00 17,220,000.00 663,859.73 29,699,073.20 0.00 137,240,247.92 0.00 256,151.70 137,496,399.62 0.00 18,645,304.92 0.00 0.00 18,645,304.92 0.00 27,919,750.83 0.00 10,553,692.38 38,473,443.21 0.00 500,000.00 0.00 0.00 500,000.00 0.00 500,000.00 0.00 0.00 500,000.00 0.00 5,000.00 0.00-176.66 4,823.34 0.00 *2 0.00 0.00 7,200,000.00 301,954.00 7,501,954.00 0.00 ( ) 0.00 0.00 51,000.000.00-193,377.51 50,806,622.49 0.00 262,600,359.25 0.00 75,420,000.00 16,082,337.91 354,102,697.16 0.00 *1 2004 4 8 2004 5 31 1722 *2 2004 4 8 35

2004 2004 5 31 720 2004 6 30 % 30 20,000,000.00 2,013,563.02-14,577,496.94 5,422,503.06 73.80 138,600,000.00 256,151.70-1,103,600.38 137,496,399.62 99.00 21,511,054.65 663,859.73 8,188,018.55 29,699,073.20 75.00 20 29,442,728.57-395,286.45-6,448,387.46 22,994,341.11 90.00 50 35,788,461.76 2,881,957.70 6,269,770.45 42,058,232.21 40.00 52 18,645,304.92 0.00 0.00 18,645,304.92 10.00 35 21,015,931.59 10,553,692.38 17,457,511.62 38,473,443.21 41.00 49 500,000.00 0.00 0.00 500,000.00 5.00 50 500,000.00 0.00 0.00 500,000.00 5.00 50 5,000.00-176.66-176.66 4,823.34 1.00 20 7,200,000.00 301,954.00 301,954.00 7,501,954.00 36.00 ( ) 51,000,000.00-193,377.51-193,377.51 50,806,622.49 51.00 344,208,481.49 16,082,337.91 9,894,215.67 354,102,697.16 * ** 3 2003.12.31 2004 6 30 221,351.25 0.00 0.00 221,351.25 131,685.11 0.00 0.00 131,685.11 2,970,000.00 0.00 0.00 2,970,000.00 233,682.94 0.00 0.00 233,682.94 3,556,719.30 0.00 0.00 3,556,719.30 4-1,141,053.65 10-57,052.68-741,684.89 44,211,538.24 50 443,743.08 41,933,721.70-2,442,728.57 10-136,066.44-2,041,000.95 53,987,819.88 35 769,391.64 52,318,631.22 94,615,575.90 1,020,015.60 91,469,667.08 3 1 36

2004 2004 1-6 2003 1-6 0.00 0.00 16,082,337.91 9,405,393.85-1,020,015.60-411,695.80 0.00 260,677.50 15,062,322.31 9,254,375.55 1 2004 6 30, (1) 2003 2004 6 30 2,710.00 0.00 2,710.00 14,000.00 0.00 14,000.00 *3 USD319.00 USD277.40 0.00 USD596.40 3,200.00 5,000.00 0.00 0.00 3,200.00 5,000.00 1000.00 0.00 1000.00 1000.00 0.00 1000.00 50.00 0.00 50.00 600.00 0.00 600.00 300.00 0.00 300.00 100.00 0.00 100.00 200.00 0.00 200.00 500.00 0.00 500.00 7,333.00 0.00 7,333.00 28,000.00 0.00 28,000.00 ( ) *1 0.00 10,000.00 0.00 10,000.00 *2 0.00 200.00 0.00 200.00 *1*2 *3 (2) 2003 2004 6 30 2003 2004 6 30 2,000.00 2,000.00 73.80 73.80 13,860.00 13,860.00 99.00 99.00 USD239.25 USD 523.05 75.00 75.00 8,000.00 8,000.00 40.00 40.00 7,500.38 7,500.38 41.00 41.00 1000.00 1000.00 100.00 100.00 1000.00 1000.00 100.00 100.00 50.00 50.00 100.00 100.00 37

2004 590.48 590.48 87.39 87.39 180.00 180.00 60.00 60.00 50.00 50.00 50.00 50.00 145.00 145.00 72.50 72.50 300.00 300.00 60.00 60.00 4,927.39 4,927.39 80.00 80.00 12,039.17 12,039.17 81.029 81.029 ( ) 0.00 5,100.00 0.00 51.00 0.00 180.00 0.00 90.00 4 (1) 38.57% 19% 12% 19% 36% 10% 25% 2 1-5,974,000.00 19,375,598.56-60,000.00 8,599,118.00 2,039,262.15-56,044,746.50 5,479,051.50 294,791.46 752,307.70 2,052,307.70 3,186,049.47 38

2004 *1 15,252,396.02 358,507,902.08 5,910,000.00 10,255,000.00 0.00 654,000.00 940,000.00 940,000.00 *2 5,000,000.00 5,000,000.00-55,386,438.80 47,620,178.84 21,162,396.02 368,762,902.08 *1 9,694,395.68 *2 2 1 2004 1 29,000,000.00 2004 1 20 2005 1 19 2 2004 4 200,000,000.00 2004 4 23 2005 4 23 3 2004 3 73,000,000.00 2004 3 25 2005 1 24 3 2004 3 8 38.6 500 4,573,643.75 426,356.25 2004 4 1,167,372.62 2004 6 30 2003 294,791.46 294,791.46 3,186,049.47 3,186,049.47 2,052,307.70 1,300,000.00 8,599,118.00 8,659,118.00 2,039,262.15 2,039,262.15 19,375,598.56 25,349,598.56 10,255,000.00 4,345,000.00 0.00 133,567.73 51,186,493.60 4,187,646.33 409,694,395.68 25,076,720.12 0.00 120,000,000.00 0.00 200,000,000.00 0.00 2,500,000.00 654,000.00 0.00 940,000.00 0.00 5,000,000.00 1 2004 6 30 39

2004 50,000,000.00 2003.08.25-2008.08.21 29,000,000.00 2004.01.20-2005.01.19 100,000,000.00 2003.07.22-2005.07.22 100,000,000.00 2003.12.31-2004.11.30 200,000,000.00 2004.4.23-2005.04.22 14,000,000.00 2003.08.08-2004.07.30 100,000,000.00 2002.11.15-2004.11.14 15,000,000.00 2003.12.18-2004.12.15 73,000,000.00 2004.03.25-2005.01.24 681,000,000.00 * 631,000,000.00 92.66% ** 2004 6 30 245,239,180.10 2 1 2003 3 21 2003 10 26 1,356,800.00 4 2004 5 30 1,356,800.00 4 2004 3 5 2004 118 3 2004 6 30 1 47,533,614.28 2003 12 31 29,841,522.02 1 5 26,450,000.00,, 2001 4 20 2008 12 31 2 68,100,800.00 6-16 29,000,000.00 2003 8 15 2008 8 14 3 32,292,000.00 34 20,000,000.00 2003 10 31 2004 10 31 1 7,487.71 6,518.27 969.44 40

2004 2 15,021.90 13,532.00 1,489.90 2004 53,541.00 20,616.00 21,775.00 2004 1,722.00 1,508.71 213.29 2004 3, 1 2000 7 25 30 2,000,000.00 2 (1) 2004 5 31 90%, 900, 527,943.02 (2) 2004 2 26 65%, 940, 2,900,000.00 (3) 2004 4 38.6 4,573,643.75 1,167,372.62 3 1 2004 4 8 2004 5 31 1722, 2 2004 4 8 2004 5 31 720, 36% (3) 2004 2 21 5100 10000 51% 2004 1-6 18.13% 18.13% 0.376 0.376 10.01% 10.01% 0.208 0.208 2.51% 2.51% 0.052 0.052 1.64% 1.64% 0.034 0.034 41

2004 2004 6 30 2003 12 31 2004 6 30 2003 12 31.1 213,213,558.58 240,753,344.96 68,415,391.50 76,188,705.70 0.00 0.00 0.00 0.00 0.00 0.00.2(2) 0.00 0.00 12,200,000.00 0.00 0.00 0.00.2 167,045,793.99 80,602,545.89 0.00 0.00.3.1 164,461,215.07 146,866,056.62 100,947,106.61 170,639,250.42.4 2,540,978.72 1,250,299.40 0.00 0.00 0.00 0.00 0.00 0.00.5 1,356,586,206.38 1,126,875,855.09 393,769.89 393,309.89.6 25,068,967.53 24,953,130.47 15,000.00 8,350.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,928,916,720.27 1,621,301,232.43 169,771,268.00 259,429,616.01.7.2 153,727,677.06 153,883,581.62 449,129,083.54 358,646,761.23 0.00 0.00 0.00 0.00 153,727,677.06 153,883,581.62 449,129,083.54 358,646,761.23.7 97,830,411.95 99,706,370.73 0.00 0.00.8 574,186,001.44 571,124,602.82 51,947,552.08 51,921,795.73.8 163,732,607.56 152,481,234.12 23,266,137.84 22,302,043.32.8 410,453,393.88 418,643,368.70 28,681,414.24 29,619,752.41.8 0.00 0.00 0.00 0.00 410,453,393.88 418,643,368.70 28,681,414.24 29,619,752.41 0.00 0.00 0.00 0.00.9 158,668,955.10 137,120,682.77 0.00 0.00 639,665.14 0.00 21,520.00 0.00 569,762,014.12 555,764,051.47 28,702,934.24 29,619,752.41.10 24,631,303.43 28,177,681.14 445,821.72 512,400.04.11 2,990,370.81 1,237,204.32 52,701.35 52,701.35.12 8,808,565.26 8,808,565.26 0.00 0.00 36,430,239.50 38,223,450.72 498,523.07 565,101.39 0.00 0.00 0.00 0.00 2,688,836,650.95 2,369,172,316.24 648,101,808.85 648,261,231.04 42

2004 2004 6 30 2003 12 31 2004 6 30 2003 12 31.13 469,000,000.00 553,900,000.00 100,000,000.00 100,000,000.00.15 10,000,000.00 0.00 0.00 0.00.14 122,659,554.21 109,702,436.10 0.00 0.00.16 302,166,557.72 192,356,510.52 0.00 0.00.17 7,302,511.72 8,321,436.69 0.00 0.00 1,186,795.17 994,110.52 0.00 0.00 0.00 14,000,000.00 0.00 0.00.18 105,605,831.25 100,534,891.31 18,437.20 890,255.36.19 1,956,185.30 2,014,607.75 10,573.00 0.00.20 871,178,207.91 488,713,305.78 111,272,702.33 121,523,066.77.21 57,320,222.57 43,893,254.85 0.00 0.00 0.00 0.00 0.00 0.00 0.00 200,000,000.00 0.00 0.00 0.00 0.00 0.00 0.00 1,948,375,865.85 1,714,430,553.52 211,301,712.53 222,413,322.13.22 82,955,384.75 82,085,178.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00.23 140,000.00 140,000.00 0.00 0.00 0.00 0.00 0.00 0.00 83,095,384.75 82,225,178.00 0.00 0.00 0.00 0.00 0.00 0.00 2,031,471,250.60 1,796,655,731.52 211,301,712.53 222,413,322.13.24 221,604,580.45 147,773,989.84 0.00 0.00.25 210,000,000.00 210,000,000.00 210,000,000.00 210,000,000.00.26 207,967,175.79 207,967,175.79 207,967,175.79 207,967,175.79.28 1,182,109.97 1,182,109.97 1,182,109.97 1,535,146.40.28 352,495.07 352,495.07 352,495.07 511,715.47.27-8,712,817.00-8,778,854.61 0.00 0.00.29 25,324,351.14 14,372,163.73 17,650,810.56 6,698,623.15 435,760,819.90 424,742,594.88 436,800,096.32 425,847,908.91 2,688,836,650.95 2,369,172,316.24 648,101,808.85 648,261,231.04 43

2004 2004 1-6 2003 1-6 2004 1-6 2003 1-6.30 289,866,531.27 37,389,063.08 0.00 0.00.30 196,201,941.34 16,525,856.35 0.00 0.00.31 14,676,464.46 873,410.44 0.00 0.00 78,988,125.47 19,989,796.29 0.00 0.00.32 5,877,623.62 1,064,563.75 471,855.37 396,785.21.36 10,052,469.13 4,380,014.54 0.00 0.00.37 28,152,571.32 11,869,794.46 2,593,268.19 2,374,269.60.33 3,030,177.98 329,699.17 1,988,722.08-803,512.37 43,630,530.66 4,474,851.87-4,110,134.90-1,173,972.02.34 2,102,038.46 6,432,490.33 15,062,322.31 9,254,375.55.35 230,676.93 0.00 0.00 0.00.38 1,256,979.60 4,133.59 0.00 0.00.39 863,390.41 35.61 0.00 0.00 46,356,835.24 10,911,440.18 10,952,187.41 8,080,403.53.40 15,506,824.85 290,100.42 0.00 0.00 19,831,785.37 4,017,982.70 0.00 0.00.27 66,037.61-940,739.97 0.00 0.00 10,952,187.41 7,544,097.03 10,952,187.41 8,080,403.53 14,372,163.73 7,802,452.71 6,698,623.15 7,802,452.71 0.00 0.00 0.00 0.00 25,324,351.14 15,346,549.74 17,650,810.56 15,882,856.24.28 0.00.28 0.00 25,324,351.14 15,346,549.74 17,650,810.56 15,882,856.24 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 25,324,351.14 15,346,549.74 17,650,810.56 15,882,856.24 44

2004 2004 6 30 298,787,942.74 0.00 230,676.93 0.00 282,872,483.29 150,594,769.62 581,891,102.96 150,594,769.62 363,309,259.66 39,493.80 13,459,000.40 666,862.95 26,757,506.97 999,042.56 264,608,769.69 92,955,651.22 668,134,536.72 94,661,050.53-86,243,433.76 55,933,719.09 4,000,000.00 0.00 4,000,000.00 0.00 0.00 12,200,000.00 5,689,986.80 160,000.00.42 0.00 0.00 9,689,986.80 12,360,000.00 27,183,224.63 30,456.35 22,982,324.44 73,582,324.44 0.00 0.00 16,068,952.44 0.00 66,234,501.51 73,612,780.79-56,544,514.71-61,252,780.79 49,200,000.00 0.00 180,000,000.00 50,000,000.00 4,353.06 0.00 229,204,353.06 50,000,000.00 66,400,000.00 50,000,000.00 46,266,921.32 2,454,252.50 1,289,269.65 0.00 113,956,190.97 52,454,252.50 115,248,162.09-2,454,252.50 0.00 0.00-27,539,786.38-7,773,314.20 45

2004 2004 6 30 1 10,952,187.41 10,952,187.41 19,831,785.37 0.00 66,037.61 0.00 306,337.61 94,994.46 12,229,418.03 964,094.52 464,036.58 71,278.32 1,898,322.84 0.00-229,137.06-6,650.00 12,407,153.52 0.00-1,008,995.61 0.00 4,064,041.54 2,454,252.50-2,102,038.46-15,062,322.31 0.00 0.00-201,725,300.32-460.00 60,772,364.32 69,636,985.32-4,169,647.14-13,170,641.13 0.00 0.00-86,243,433.76 55,933,719.09 2 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3 213,213,558.58 68,415,391.50 240,753,344.96 76,188,705.70 0.00 0.00 0.00 0.00-27,539,786.38-7,773,314.20 46

2004 2003 12 31 2004 6 30 11,836,403.17 617,902.17 311,564.56 0.00 311,564.56 12,142,740.78 1,501,984.34 522,907.71 0.00 0.00 0.00 2,024,892.05 10,334,418.83 94,994.46 311,564.56 0.00 311,564.56 10,117,848.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2,569,961.41 0.00 0.00 0.00 0.00 2,569,961.41 2,569,961.41 0.00 0.00 0.00 0.00 2,569,961.41 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 14,462,500.00 0.00 0.00 3,110,736.45 0.00 11,351,763.55 13,500,000.00 0.00 0.00 3,110,736.45 0.00 10,389,263.55 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 * 47

2004 2003 12 31 2004 6 30 9,262,644.85 94,994.46 0.00 0.00 0.00 9,357,639.31 0.00 0.00 0.00 0.00 0.00 0.00 9,262,644.85 94,994.46 0.00 0.00 0.00 9,357,639.31 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 962,500.00 0.00 0.00 0.00 0.00 962,500.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 48

2004 49