Cooperative item Introduction for cooperative item of Immortal
Spirit-SUR Condensed Compound Chemical Fertilizer

"Suxian" brand Immortal Spirit-SUR condensed compound chemical fertilizer of Chenzhou Chemical Group are famous trademark in the country. It owns yearly production capacity of 300,000T. Owing to the lack of capital, subsidiary of our company-Chenzhou Fangzhou Chemical Co.,Ltd. has not exerted the production capacity of 20T compound fertilizer installation per year. This item was proved by the State Council and was put into production in April of 2001. It occupies a total area of 300,000 square meters and total assets of USD 24,550,000. Net assets value is USD 17,775,000 and assets-liabilities ratio is 27.6%. This item enjoys preferential tax policy. It is estimated that yearly profit is USD 4,840,000. This item has a developing capacity for 40T compound fertilizer installation. In order to exert investment results, our company decides to look for international cooperation with favorable conditions. Cooperative methods are as the following.

1, The cooperative party invests at least USD 5,500,000 and should employ staff members of Fangzhou company first. The cooperative party owns relative proprietary and 51% shares.
2, If cooperative party can purchase this company if it invests USD 12,800,000. But staff members in Fangzhou company should be employed first.
3, Other methods that can achieve "mutual profit".