2004 2

00 2005 3 30

2004 2

2004 4 5 6 9 14 15 17 31 33 38 79 3

2004 TIANJIN BINHAI ENERGY & DEVELOPMENT CO. LTD 27 022 66202230 022 66202232 E-mail:st695@eyou.com 27 300457 http://www.binhaienergy.com E-mail:st695@eyou.com : http://www.cninfo.com.cn *ST 000695 2004 1 16 1200001001285 4

2004 1201015103064074 8 C 12 1 16,090,506.02 14,017,361.01 13,995,951.28 45,080,172.51 121,977.96 16,555,155.08-456,764.06 0-7,885.00 38,202,424.46-23,930,817.01 * : ( ): 7,885.00-26,502.16-2,792.57-21,409.73 5

2004 2 2004 2003 2002 229,487,658.13 151,445,022.39 167,149,942.98 14,017,361.01-23,760,292.65-74,272,947.71 662,476,266.41 741,002,142.81 784,724,764.96 307,044,041.11 270,317,353.34 294,077,645.99 0.06-0.11-0.33 1.38 1.22 1.32 1.38 0.51 0.96 0.17-0.05-0.20 % 4.57-8.79-25.26 3 14.68% 15.62% 0.20 0.20 5.39% 5.73% 0.07 0.07 4.57% 4.86% 0.06 0.06 4.56% 4.85% 0.06 0.06 4 222,147,539.00 134,611,548.90 22,790,907.70-109,232,642.26 270,317,353.34 22,739,937.06 122,441.22 14,017,361.01 36,879,739.29 153,051.52 153,051.52 222,147,539.00 157,351,485.96 22,913,348.92-95,368,332.77 307,044,041.11 + - 6

2004 1 113,293,339 2 31,604,300 3 4 144,897,639 1. 2. 3. 4. 77,249,900 77,249,900 222,147,539 113,293,339 31,604,300 144,897,639 77,249,900 77,249,900 222,147,539 1 13 218 2 13218 % 113293339 51 1820000 0.82 1638000 0.74 1092000 0.5 1092000 0.5 1092000 0.5 910000 910000 1090000 0.49 ; ; 180000 180000 7

2004 910000 0.41 910000 0.41 910000 0.41 A B H 780000 A 723480 A 673000 A 650050 A 631424 A 608322 A 526800 A 461150 A 445239 A 400000 A, 9 3 1 2004 1 1998 9 25 16 974 2 8

2004 1985 5 28 600,000 3 100% 51% 1 50 2002.6-2005.6 0 0 46 2002.6-2005.6 0 0 48 2002.6-2005.6 0 0 33 2004.6-2005.6 0 0 9

39 36 2004 2004.6-2005.6 2004.1-2005.6 0 0 2002.6-2005.6 0 0 57 2002.6-2005.6 0 0 45 2002.6-2005.6 0 0 50 2003.6-2005.6 0 0 50 2002.6-2005.6 0 0 35 2004.6-2005.6 0 0 31 2004.4-2005.6 0 0 38 2002.6-2005.6 0 0 51 2004.11-2005.6 0 5100 5100 35 2004.3-2005.6 0 0 37 2004.11-2005.6 0 0 2 2001 12 2004 1-2001 12 2001 12 2001 12 2001 12 2001 12 1 10

2004 2 3 11

2004 4 / / 12

2004 54.45 23.8 34.85 2 4 15 0 10-15 4 5-10 1 5 2 2004 1 16 2004 3 9 2004 6 18 2003 1 2 2004 11 18 156 104 24 13

2004 6 7 15 80% 20% 17% 1. 17 13 3 1 17 14 2 1 17 17 0 0 2 1 14

2004 2 3 4 5 2003 2004 6 18 2003 2004 1 16 2004 3 12 2004 5 18 2003 2003 2004 6 18 5 113,385,834 51.04% 1 2003 2 2003 3 2003 4 5 6 7 8 9 2004 15

2004 2004 6 19 1 2004 2003 12 16 2004 2004 1 16 6 122 134 553 54.98% 1 2 3 4 5 ; 6 7 2004 1 29 2 2004 2004 2 11 2004 2004 3 12 16

2004 5 114 396 989 51.5% 1 2 3 5 2 2004 3 13 22,948.77 51.53 1,401.74 1 2 17

2004 1 3,854,177.13 1,683,125.48 225,633,481.00 43,397,047.03 225,633,481.00 43,397,047.03 3,854,177.13 1,683,125.48 3,854,177.13 1,683,125.48 197,222,031.00 52,042,345.03 28,411,450.00-8,645,298.00 2 10% 197,222,031.00 144,060,596.00 26.96% 28,411,450.00 37,056,748.00-30.43% 3 2003 8 4 2003 8 4, 75% 2003 12 8 [2003]53 2004 1 16 2004 2004 1 16 2004 1 16 1993 2 22 4,000 18

2004 50% 2004 1 16 9,200 75% 25% 2003 8 4 75% 6224.75 462.75 13,300.17 92.88% 22,563.35 98.32% 1 2 2004 7 20 98 / 114.20 / 2004 1 1 [2004]24 114.2 / 19

2004 1 12629 573 0 75% 7371 462.75 7371 0 4685 4685 24685 462.75 7944 4685 2000 12629 573 12056 2004 12056 7371 75% 2004 1 18 2003 8 7 6,224.75 462.75 2003 4685 37.09%, 14.78%,,, 2004 5 18 2 2003 20

2004 2004 5 18 99.56 2005 12 2004 2003 % 662,476,266.41 741,002,142.81-10.60 331,103,999.15 467,243,019.10-29.14 307,044,041.11 270,317,353.34 13.59 229,487,658.13 151,445,022.39 51.53 45,080,172.51 32,485,570.06 38.77 14,017,361.01-23,760,292.65 158.99-23,930,817.01-35,660,669.35-32.89 1 1 10.60% 2004 16 75% 2 29.14% 3 13.59% 4 51.53% 21

2004 5 38.77% 6 158.99% 7 2393 7371 75% 2 3 1. 17 1 2004 1 16 1 2 2 2004 1 18 1 2004 2 2004 3 22

2004 4 5 6 2004 3 2004 3 9 4 2004 4 16 1 2003 2 2003 2003 2003-23,760,292.65-85,470,942.75-109,231,984.78 438.32 219.16 2003-109,232,642.26 2003 2003 3 ( ) " " " ( ) 23

2004 ( ) 4 5 2004 5 17 1 2003 2 2000 12629 7945 573 75% 7371 4684 4684 2003 3 2004 2004 2003 4 2003 2003 5 2004 6 2004 5 20 24

2004 4000 12 7 2004 6 14 8 2004 6 18 1 2 2004 9 2004 6 28 1.75 12 10 2004 6 30 a 40 4% 2.4% 8-15 4% 12.0%-6.4% 25

6-12 4% 16.0%-8.0% 15 4% 6.4% 2004 30 5% 3.17% 15-20 5% 6.33%-4.75% 5 5% 19.00% 5-10 5% 19.00%-9.50% b 10% 5 8% 50% 80% 11 2004 8 6 1, 2, 3) 12 2004 8 17 ( ) 26

2004 2004 005 13 2004 8 18 1 2004 2 2004 14 2004 9 30 0.42 0.45, 2004 9 1 2005 9 1 15 2004 10 22 2004 16 2004 11 18 27

2004 17 2004 12 21 1 5 000 12 2 2004 6 18 2003 20 000 8 2. 2004 2004 14 017 361.01 109 232 642.26 95 215 281.25 2004 95 337 722.47 95 368 332.77 22 913 348.92 17 646 758.74 157 351 485.96 125 448 997.91 17 514 444.75 77 853 888.02 2004 2004 28

2004 2005 3 22 2003 2004 12 2004 2004 12 31 31 2004 29

2004 0.00 37,941,827.93 37,941,827.93 277,353,281.10 37,941,827.93 0.00 0.00-2,964,254.02-2,964,254.02-14,879,380.96-2,964,254.02 0.00 239,411,453.17-11,915,126.94 0.00 34,977,573.91 34,977,573.91 262,473,900.14 34,977,573.91 0.00 227,496,326.23 0.00 0.00 10,000,000.00 10,000,000.00 0.00 0.00 10,000,000.00 0.00 34,977,573.91 44,977,573.91 272,473,900.14 34,977,573.91 0.00 237,496,326.23 2004 1 16 2004 12 31 30

2004 2003 56 10000 32.57 % 2003 4 10 2004 6 24 2003 56 31

2004 2004 1. 2004 4 16 3 3 1 2003 2 2003 3 2. 2004 5 17 3 2 1 2 3. 2004 8 18 3 3 2004 1. 2004 32

2. 2004 2004 3. 4. 5. 6. 7 2004 1 2003 4 30 1993 10 20 800 2003 1 21 2 2003 8 7 1993 4 23 63 2004 3 18 2004 3 24 33

2004 1993 [2003]45 2003 8 4 2003 8 7 2000 5 5 7371 2000 75% 2003 12 8 2004 1 16 2004 34

2004 2004 1 16 4.09 5 5 2.74 6.13 2004 1 16 4.66 3513 75% 2004 1 16 2004 7371 2004 1 18 2004 7 2 2003 8 7 2003 12 16 2004 7 2 35

2004 2004 7 2 22,948.77 1,401.74 1 1 1,457,510 0.64% 2 197,222,031 85.94% 3 1 5, 1-5 60,725,722 2004 6 2 206,561,687.54 4,877,934.37 211,439,621.91 35,134,027.92 175,000,000.00 1,305,593.99 36

2004 3 2003 3 10 660 618 4 2004 6 18 397 28.50 5 1 1.75 2004.6.28 2005.6.27 5.31% 2 1500 2004.9.24 2005.9.23 5.841% 3 2000 1000 2004.5.19 2005.5.8 5.31% 1000 2004.5.19 2005.4.20 5.31% 6 1 [ ] 2 1000 2004 8 19 1 2006 7 31 2003 4 10 2004 6 24 2004 6 24 37

2004 2003 2004 2004 72 2004 38

ShineWing certified public accountants 2004 8 : +86(010)65542288 A 9 telephone: +86(010)65542288 12th Floor, Block C, Fu Hua Mansion No.8, Chao Yang Men Bei Da Jie, Dong Cheng District, Beijing, 100027, P.R.China : +86(010)6554 7190 facsimile: +86(010)6554 7190 your reference our reference XYZH/A0105073 2004 12 31 2004 2004 12 31 2004 2005 3 22 39

2004 2004 12 31 2003 12 31 2004 12 31 2003 12 31 1 112,078,997.12 136,009,814.13 98,835,505.75 134,496,175.10 40,000.00 5,143,271.00 5,023,271.00 3,416,726.00 3,416,726.00 2 39,083,084.81 265,035,495.85 9,416,510.07 262,464,785.80 3 1,356,219.14 90,979,531.13 1,676,829.71 90,500,575.22 4 5,001,900.00 27,606,408.62 5,000,000.00 27,587,925.63 5 17,318,353.09 39,148,701.33 12,515,362.50 32,702,961.00 521,305.73 1,645.67 473,758.28 175,359,859.89 567,381,593.73 127,917,966.31 556,192,419.75 6 14,309,469.60 27,112,084.07 77,294,148.05 34,244,755.79 14,309,469.60 27,112,084.07 77,294,148.05 34,244,755.79 4,309,469.60 7 500,512,565.75 263,454,260.28 388,467,961.80 252,895,882.11 7 65,040,730.18 131,435,503.75 26,956,829.98 127,509,356.16 435,471,835.57 132,018,756.53 361,511,131.82 125,386,525.95 7 419,520.00 419,520.00 435,471,835.57 131,599,236.53 361,511,131.82 124,967,005.95 8 995,611.09 995,611.09 436,467,446.66 131,599,236.53 362,506,742.91 124,967,005.95 9 35,150,942.11 14,909,228.48 33,830,653.91 13,023,547.24 1,188,548.15 10 36,339,490.26 14,909,228.48 33,830,653.91 13,023,547.24 662,476,266.41 741,002,142.81 601,549,511.18 728,427,728.73 40

2004 2004 12 31 2003 12 31 2004 12 31 2003 12 31 11 230,000,000.00 407,500,000.00 215,000,000.00 403,600,000.00 12 4,600,000.00 4,600,000.00 13 11,554,447.04 21,078,290.46 2,039,716.56 19,051,110.18 13 13,871,980.72 13,746,264.09 1,095,313.69 1,967,438.71 285,104.31 1,688,896.22 14 2,923,496.56 15 4,041,757.89 642,807.55 3,585,492.49 275,289.31 16 129,776.85 15,396.37 129,776.85 13,457.14 17 8,461,034.09 13,487,975.35 740,080.60 11,056,228.51 18 3,168,909.62 1,888,412.00 2,629,381.60 1,888,412.00 19 68,423,669.42 68,423,669.42 329,798,405.16 465,052,301.16 292,833,221.83 455,919,657.45 20 1,305,593.99 1,379,889.16 1,305,593.99 1,379,889.16 810,828.78 810,828.78 1,305,593.99 2,190,717.94 1,305,593.99 2,190,717.94 331,103,999.15 467,243,019.10 294,138,815.82 458,110,375.39 21 24,328,226.15 3,441,770.37 41

2004 22 222,147,539.00 222,147,539.00 222,147,539.00 222,147,539.00 23 157,351,485.96 134,611,548.90 157,351,485.96 134,611,548.90 24 22,913,348.92 22,790,907.70 22,592,436.30 22,592,436.30 5,144,148.96 5,144,148.96 5,077,991.55 5,077,991.55 25-95,368,332.77-109,232,642.26-94,680,765.90-109,034,170.86 307,044,041.11 270,317,353.34 307,410,695.36 270,317,353.34 662,476,266.41 741,002,142.81 601,549,511.18 728,427,728.73 2004 2003 2004 2003 26 229,487,658.13 151,445,022.39 167,240,113.87 141,878,718.32 26 183,287,326.55 117,954,083.10 130,031,733.12 110,820,205.51 1,120,159.07 1,005,369.23 960,596.57 963,933.47 45,080,172.51 32,485,570.06 36,247,784.18 30,094,579.34 121,977.96 2,819,869.14 984,798.48 2,790,614.41 269,335.41 4,216,923.62 269,335.41 3,998,102.31 16,725,345.64 37,621,281.95 14,698,093.20 35,224,602.84 27 11,652,314.34 21,557,600.90 10,902,677.40 21,285,593.24 16,555,155.08-28,090,367.27 11,362,476.65-27,623,104.64-456,764.06 3,478,237.91 2,990,928.31 3,187,115.04 28 956,359.41 946,891.41 29 7,885.00 278,935.74 271,194.46 16,090,506.02-23,934,705.69 14,353,404.96-23,760,292.65 832,567.77 22,510.98 1,240,577.24-196,924.02 14,017,361.01-23,760,292.65 14,353,404.96-23,760,292.65-109,232,642.26-85,471,692.13-109,034,170.86-85,273,878.21-95,215,281.25-109,231,984.78-94,680,765.90-109,034,170.86 438.32 219.16 61,220.61 61,220.61-95,337,722.47-109,232,642.26-94,680,765.90-109,034,170.86 42

30,610.30 2004-95,368,332.77-109,232,642.26-94,680,765.90-109,034,170.86 2004 2003 2004 2003 1 3,605,244.40 3,605,244.40 2 3 4 5 6 2004 255,428,526.58 181,714,189.16 30 5,117,885.72 1,206,413.60 260,546,412.30 182,920,602.76 177,808,189.31 129,244,587.80 18,806,536.39 14,716,696.77 4,752,039.02 1,239,732.43 31 20,977,223.12 19,871,328.88 222,343,987.84 165,072,345.88 38,202,424.46 17,848,256.88-1,510,639.03 32 35,134,027.92 35,134,027.92 33,623,388.89 35,134,027.92 3,243,415.50 2,625,406.50 33 80,211,467.21 73,715,800.00 34 12,070,216.97 12,070,216.97 95,525,099.68 88,411,423.47-61,901,710.79-53,277,395.55 230,000,000.00 215,000,000.00 230,000,000.00 215,000,000.00 43

2004 221,561,688.00 206,561,688.00 8,669,842.68 8,669,842.68 230,231,530.68 215,231,530.68-231,530.68-231,530.68-23,930,817.01-35,660,669.35 1 2004 14,017,361.01 14,353,404.96 1,240,577.24-58,349.73 20,655,586.00 16,820,379.26 803,495.00 239,814.93 787,101.23-92,003.21-97,262.34 2,877,671.34 2,681,307.86 7,885.00 11,989,172.00 10,275,902.34 456,764.06-2,990,928.31-29,351,382.02-24,945,574.85 3,231,256.71-4,999,936.89 12,184,576.13 5,963,863.62 38,202,424.46 17,848,256.88 2 3 112,078,997.12 98,835,505.75 136,009,814.13 134,496,175.10-23,930,817.01-35,660,669.35 44

2004 2003 12 31 2004 12 31 39,557,225.23 39,557,225.23 122,283.80 63,934.07 29,448,388.43 29,448,388.43 38,519.66 38,519.66 10,108,836.80 10,108,836.80 122,283.80 96,869.39 25,414.41 10,257,940.90 10,257,940.90 3,766,520.76 3,766,520.76 3,635,577.60 3,635,577.60 419,520.00 419,520.00 419,520.00 419,520.00 2003 12 31 2004 12 31 39,218,373.45 39,218,373.45 29,162,753.98 29,162,753.98 10,055,619.47 10,055,619.47 10,257,940.90 10,257,940.90 3,766,520.76 3,766,520.76 3,635,577.60 3,635,577.60 419,520.00 419,520.00 45

2004 419,520.00 419,520.00 1992 10 1992 44 1997 2 18 1997 40 1997 52 222,147,539 2003 8 4 75% 2003 12 8 [2003]53 2004 1 16 2004 2004 1 16 27 2003 2004 1 0328 2003 1 2 46

2004 1 1 12 31 3 4 5 6 7 8 1 2 3 47

2004 9 1 a. b. 3 c. 2 2004 1 16 2004 1 16 10% 3 3-1 0% 0.5% 1-2 8% 2-3 50% 3 80% 10 1 2004 16 2 3 4 11 1 a 20% 20% 20% 48

2004 20% 20% 20% b 10 2 a b 3 12 1 2 13 1 2 3 4, 49

2004 2004 1 16 2004 1 16 1 40 4% 2.40% 8-15 4% 12.0% 6.4% 6-12 4% 16.0% 8.0% 15 4% 6.40% 2 30 5% 3.17% 15-20 5% 6.33% 4.75% 5 5% 19.00% 5-10 5% 19% 9.5% 5 6 1 2 3 4 7 1 2 3 4 50

2004 5 6 14 1 2 3 1 3 2 3 15 1 1 2 3 2 3 16 51

2004 1 2 10 1 50 10 10 5 2 50 5 3 1 2 3 4 17 1, 18 1 2 52

19 2004 1 1 2 3 2 20 1 2 3 21 22 2004.9 2.13 4 23 1 50% 50% 2 53

2004 3 2004 1 16 2004 1 16 1 33% 15% 2 13% 17% 3 5% 4 7% 5 3% 6 1994 70 1995 1 1 1% 7 54

2004 1 130 130 100% 259 155.4 60% 300 252 84% 450 247.75 55% 50 35 70% 50 240.37 86.68% [1996]2 10% 2 9,200 7,371 75% 1993 2 22 4,000 50% 9,200 75% 25% 2003 8 4 75% 55

2004 1 2004.12.31 2003.12.31 9,892 5,340 112,069,105 136,004,474 112,078,997 136,009,814 2 1 2004.12.31 2003.12.31 3 31,417,673 80% 0 0 0 0 3-1 7,703,932 20% 38,520 69,746,856 24% 6,974,686 1-2 0 0 0 40,117,684 13% 4,011,768 2-3 0 0 0 49,498,032 17% 4,949,803 3 0 0 0 135,121,312 46% 13,512,131 39,121,605 100% 38,520 294,483,884 100% 29,448,388 9 2 5% 5% 3 39,121,605 100% 3 1 2004.12.31 2003.12.31 3 446,380 32% 0 0 0 0 3-1 814,390 59% 806 14,405,008 14% 1,440,501 1-2 100,114 7% 8,009 21,782,646 22% 2,178,264 2-3 0 0 0 29,238,266 29% 2,923,827 3 20,750 2% 16,600 35,662,448 35% 3,566,245 1,381,634 100% 25,415 101,088,368 100% 10,108,837 56

2004 9 2 5% 5% 3 1,036,137 74.99% 4 1 2004.12.31 2003.12.31 1 5,001,900 100% 23,251,358 84% 1 2 0 0 2,391,688 9% 2 3 0 0 1,003,846 4% 3 00 0 959,517 3% 5,001,900 100% 27,606,409 100% 2 5% 5% 5 2004.12.31 2003.12.31 16,877,988 0 16,877,988 16,910,091 3,635,578 13,274,513 0 0 0 20,390,258 3,766,521 16,623,737 0 0 0 5,199,449 213,512 4,985,937 0 0 0 6,906,844 2,642,330 4,264,514 434,674 0 434,674 0 0 0 5,691 0 5,691 0 0 0 17,318,353 0 17,318,353 49,406,642 10,257,941 39,148,701 2003.12.31 2004.12.31 3,635,578 3,635,578 0 0 0 0 3,766,521 3,766,521 0 0 0 0 213,512 213,512 0 0 0 0 2,642,330 2,642,330 0 0 0 0 10,257,941 10,257,941 0 0 0 0 6 1 2003.12.31 2004.12.31 1,370,000 1,370,000 0 0 0 57

2004 25,742,084 25,742,084 10,000,000 0 10,000,000 0 0 4,766,233 456,763 4,309,470 27,112,084 27,112,084 14,766,233 456,763 14,309,470 0 0 0 0 0 27,112,084 27,112,084 14,766,233 456,763 14,309,470 2 2003.12.31 2004.12.31 360,000 360,000 0 0 80,000 80,000 0 0 30,000 30,000 0 0 900,000 900,000 0 0 1,370,000 1,370,000 0 0 3 1990 2005 35% 1,260,000 1,130,688 0 0 0 1997 2012 84% 2,520,000 3,057,150 0 0 0 1998 2007 55% 1,650,000 3,243,585 0 0 0 1994 2% 250,000 250,000 0 0 0 1995 2010 40% 2,180,000 4,246,774 0 0 0 1999 2% 30,000 30,000 0 0 0 2000 18% 360,000 360,000 0 0 0 2000 50% 1,500,000 2,138,731 0 0 0 2001 0% 10,000,000 10,000,000 0 0 0 2001 2026 87% 1,280,000 1,285,156 0 0 0 2000 2005 70% 350,000 0 0 0 0 2004 10% 0 0 10,000,000 0 10,000,000 58

2004 21,380,000 25,742,084 10,000,000 0 10,000,000 4 4,766,233 10 456,763 4,309,470 7 (1) 2003.12.31 141,224,584 102,456,898 13,163,651 6,609,127 263,454,260 (1.1 1.16) 0 0 0 0 0 * 141,224,584 102,456,898 13,163,651 6,609,127 263,454,260 178,724,173 256,609,907 3,410,269 9,242,473 447,986,822 17,634,475 (1.17 12.31) 51,338,655 4,855,316 926,036 74,754,482 : 6,860,812 16,256,472 0 0 23,117,284 7,993,635 14,126,253 108,850 0 22,228,738 2004.12.31 188,365,013 293,822,309 8,156,735 10,168,509 500,512,566 2003.12.31 54,856,290 65,890,988 6,400,232 4,287,994 131,435,504 (1.1 1.16) 135,336 111,404 38,913 17,173 302,826 54,991,626 66,002,392 6,439,145 4,305,167 131,738,330 16,006,643 24,312,016 2,266,836 1,897,614 44,483,109 (1.17 5,718,766 12.31) 13,447,512 694,768 794,540 20,655,586 0 0 97,965 0 97,965 2004.12.31 21,725,409 37,759,528 2,863,639 2,692,154 65,040,730 2003.12.31 86,368,294 36,565,910 6,763,419 2,321,133 132,018,756 2004.12.31 166,639,604 256,062,781 5,293,096 7,476,355 435,471,836 59

2004 * 433,242,648 (2) 2003.12.31 2004.12.31 419,520 419,520 0 0 0 0 8 2003. 12.31 2004.12.31 2331 0 0 23,309,284 0 23,117,284 192,000 0 29,929 0 0 0 995,611 0 0 995,611 32,260 0 0 23,309,284 995,611 23,117,284 192,000 995,611 9 2003.12.31 2004.12.31 13,476,264 13,476,264 35,902,453 0 795,740 35,106,713 160-578.5 983,719 983,719 0 0 0 0 404,245 404,245 0 0 0 0 45,000 45,000 0 0 0 0 0 0 51,984 0 7,755 44,229 51-52 14,909,228 14,909,228 35,954,437 0 803,495 35,150,942 10 60

2004 2003. 2004.12.31 12.31 1,825,134 0 0 1,392,972 35,391 239,815 636,586 1,188,548 3-7 11 2004.12.31 2003.12.31 0 3,500,000 210,000,000 404,000,000 5.31% 5.85% 20,000,000 0 5.85% 230,000,000 407,500,000 2004 12 31 : 20,000,000 190,000,000 210,000,000 12 2004.12.31 2003.12.31 0 4,600,000 13 2004.12.31 2003.12.31 11,554,447 21,078,290 0 13,871,981 3 782,273 5% 5% 14 2004.12.31 2003.12.31 2,923,497 0 61

2004 15 2004.12.31 2003.12.31 13% 17% 3,570,169 405,693 5% 12,500 1,673 15% 33% 231,979* 209,679 7% 227,110 25,763 4,041,758 642,808 * 2004 2001 2003 16 2004.12.31 97,333 3% 32,444 1% 129,777 17 1 8,461,034 5% 5% 5,924,021 2 : 3,293,158 3 2,630,863 1 1-2 1,250,000 1 1-2 400,000 1 288,413 1 198,140 1 8,060,574 62

2004 3 2004.12.31 * 3,293,158 * 18 2004.12.31 2003.12.31 2,311,208 46,089 504,721 243,423 227,831 1,300,000 125,150 298,900 3,168,910 1,888,412 19 2004.12.31 2003.12.31 68,423,669 0 20 2004.12.31 5 206,561,688 4,877,934 210,134,028 1,305,594 * 5.76% 21 2004.12.31 25% 24,328,226 63

2004 22 1 1 2003.12.31 +,- 2004.12.31 1113,293,339 0 0 0 0 0 113,293,339 113,293,339 0 0 0 0 0 113,293,339 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 231,604,300 0 0 0 0 0 31,604,300 3 0 0 0 0 0 0 4 0 0 0 0 0 0 144,897,639 0 0 0 0 0 144,897,639 1 77,249,900 0 0 0 0 0 77,249,900 2 0 0 0 0 0 0 3 0 0 0 0 0 0 4 0 0 0 0 0 0 77,249,900 0 0 0 0 0 77,249,900 222,147,539 0 0 0 0 0 222,147,539 2 2004.12.31 2003.12.31 113,293,339 113,293,339 1,820,000 1,820,000 1,638,000 1,638,000 1,092,000 1,092,000 1,092,000 1,092,000 1,092,000 1,092,000 910,000 910,000 910,000 910,000 910,000 910,000 910,000 910,000 64

2004 21,230,300 21,230,300 A 77,249,900 77,249,900 222,147,539 222,147,539 23 2003.12.31 2004.12.31 125,448,998 - - 125,448,998 40,893 - - 40,893 *1 583,522-587,419 1,170,941 397,526 - - 397,526 *2 - - 22,152,518 22,152,518 8,140,610 - - 8,140,610 134,611,549-22,739,937 157,351,486 *1 *2 2003 8 4 24 2003.12.31 2004.12.31 17,646,759 - - 17,646,759 5,144,149 - - 5,144,149 * - 61,220-61,220 * - 61,221-61,221 22,790,908 122,441-22,913,349 * 28 65

2004 25 2004.12.31 2003.12.31-109,232,642-85,471,692 14,017,361-23,760,293 0 438 0 219 61,221 0 * 61,221 0 * 30,610 0 0 0 0 0-95,368,333-109,232,642 * 10% 10% 5% 26 2004 2003 229,487,658 183,287,327 151,445,022 117,954,083 1 225,633,481 98.32% 2 176,328,267 20,893,764 28,411,450 3 131,944,051 12,116,545 37,056,748 27 2004 2003 11,989,172 22,587,418 341,275 1,193,510 0 1,156 66

4,417 0 0 162,537 11,652,314 21,557,601 2004 28 2004 2003 0 460,841 0 280,000 0 41,400 0 174,118 0 956,359 29 2004 2003 7,885 206,159 0 72,777 7,885 278,936 30 2004 3,111,172 150,300 150,000 1,706,414 5,117,886 31 2004 13,520,000 3,850,000 1,060,000 190,600 179,620 2,177,003 20,977,223 67

2004 32 2004 35,134,028 33 2004 70,211,467 10,000,000 80,211,467 73,715,800.00 73,715,800.00 3,504,333.00 2004.12.31 29,666,575.00 4,802,991.00 112,044,604.00 37,717,246.00 1,320,288.00 1,188,548.00 15,000,000.00 9,514,730.00 456,265.00 8,345,953.00 539,528.00 34 2004 68

11,756,595 313,622 12,070,217 2004 1 1 2004.12.31 2003.12.31 3 9,416,510 100% 0 0 0 0 3-1 0 0 0 67,654,683 23% 6,765,468 1-2 0 0 0 40,066,833 14% 4,006,683 2-3 0 0 0 49,321,405 17% 4,932,141 3 0 0 0 134,584,618 46% 13,458,462 9,416,510 100% 0 291,627,539 100% 29,162,754 9 2 5% 5% 3 9,416,510 100% 2 1 2004.12.31 2003.12.31 3 1,023,500 61% 0 0 0 0 3-1 653,330 39% 0 14,376,640 14% 1,437,664 1-2 0 0 0 21,752,646 22% 2,175,265 2-3 0 0 0 29,240,265 29% 2,924,027 3 0 0 0 35,186,644 35% 3,518,664 1,676,830 100% 0 100,556,195 100% 10,055,620 9 2 5% 5% 3 1,357,083 80.9% 69

3 2004 1 2003.12.31 2004.12.31 1,370,000 1,370,000 0 0 0 32,874,756 32,874,756 72,984,678 0 72,984,678 0 0 4,766,233 456,763 4,309,470 34,244,756 34,244,756 77,750,911 456,763 77,294,148 0 0 0 0 0 34,244,756 34,244,756 77,750,911 456,763 77,294,148 2 2003.12.31 2004.12.31 360,000 360,000 0 0 80,000 80,000 0 0 30,000 30,000 0 0 900,000 900,000 0 0 1,370,000 1,370,000 0 0 3 ( ) 1992 2002 100% 550,000 1,970,016 0 0 1996 2000 60% 1,250,606 5,162,655 0 0 1990 2005 35% 1,260,000 1,130,688 0 0 1997 2012 84% 2,520,000 3,057,150 0 0 1998 2007 55% 1,650,000 3,243,585 0 0 70

2004 1994 2% 250,000 250,000 0 0 1995 2010 40% 2,180,000 4,246,774 0 0 1999 2% 30,000 30,000 0 0 ( ) 2000 18% 360,000 360,000 0 0 2000 50% 1,500,000 2,138,731 0 0 2001 0.42% 10,000,000 10,000,000 0 0 2001 2026 87% 1,280,000 1,285,157 0 0 2000 2005 70% 350,000 0 0 0 2004 * 75% 0 0 72,984,678 72,984,678 23,180,606 32,874,756 72,984,678 72,984,678 * 68,949,567 587,419 3,447,692 4 4,766,233 10 456,763 4,309,470 4 2004 2003 167,240,114 130,031,733 141,878,718 110,820,206 1 163,385,937 97.7% 2 121,360,112 20,893,764 21,132,060 71

2004 3 88,097,445 12,116,545 26,779,486 1 2 2003.12.31 2004.12.31 6,000,000,000 0 0 6,000,000,000 169,744,028 0 0 169,744,028 92,000,000 0 0 92,000,000 3 2003.12.31 2004.12.31 113,293,339 51% 0 0 0 0 113,293,339 51% 113,293,339 51% 0 0 0 0 113,293,339 51% 0 0 69,000,000 75% 0 0 69,000,000 75% 4 72

2004 1 2 2004 2003 1,457,510 0.64% 43,752,494 * 197,222,031 85.94% 0 198,679,541 86.58% 43,752,494 * 114.2 / 129 / 99 / ( [2003]17 ) 50 3 2004 2003 0 0 16,113,461 * 60,725,722 44.44% 0 60,725,722 44.44% 16,113,461 * 73

2004 4 0 14,225,243 0 0 2,784,500 1,250,000 *1 0 0 0 206,561,688-205,256,094 1,305,594 0 1,140,322 0 0 0 0 *2 15,365,565 0 206,561,688-202 471 594 2,555,594 *1 2004 8 12 14,225,243 2004 *2 1,140,322 2004 8 12 5 1 2003 3 10 2003 4 1 2006 12 31 660 2004 2004 1 16 2004 1 22 150 43,000 2 2004 1 16 120 43,200 36 2004 11, 115 115, 2004 11 1 6 1 2 2004 8 17 1000 10% 2004 6 30 1000 2004 8 16 74

2004 7 2004 12 31 15,000,000 2004.9.24 2005.9.23 5.841% 175,000,000 2004.6.28 2005.6.27 5.31% 10,000,000 2004.5.19 2005.5.8 5.31% 10,000,000 2004.5.19-2005.4.20 5.31% 210,000,000 8 2004 12 31 9 2004.12.31 2003.12.31 0 3,248,726 0 70,055,401 37,941,828 0 0 2,898,717 0 1,556,641 0 845,409 1,714,254 0 75

2004 0 34,492,163 0 5,711,631 0 872,085 0 1,727,809 0 1,721,496 0 3,638,629 0 500,000 288,413 0 1,250,000 0 2,630,863 0 3,293,158 0 0 11,307,074 0 100,000 1,305,594 0 * 68,423,669 0 * 2003 8 4 2002 12 31 2003 12 [2003]53 2004 1 16 2004 2003 8 4, 7,372 75% 2002 12 31 2003 8 2 2004 1 16 2003 2004 76

2004 2004 6 30 1 2003 8 20 10,000 2003 8 20 2004 8 18 2004 6 24 6 25 6 26 2 1 1993 10 800 2001 11 6 2003 1 21 2001 477 800 2001 9 20 10,722,369 2001 9 21 2003 1 16 2004 6 24 157 158 2005 3 17 2 1993 4 23 63 2004 3 17 2003 42 63 2004 12 13 2003 9 [2003]45 800 300 2003 145 300 77

63 2004 2004 8 12 [2003]45 5 2004 5 17 2004 6 18 2003 2004 10 11 2004 79 29929 2004 12 31 99.56 2004 14.68% 15.62% 0.20 0.20 5.39% 5.73% 0.07 0.07 4.57% 4.86% 0.06 0.06 * 4.56% 4.85% 0.06 0.06-21,409.73 7,885-26,502.16-2,792.57 78

2004 79