Creation of warrants (as of June 30, 2006)

WISCO warrant 【 Summary of creation and cancellation 】
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜              114969.59｜             21569.59｜              93400.00｜
└────────────┴─────────┴───────────┘

WISCO Put Warrants [Summary of Creation and Cancellation]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜               132500.00｜         110157.34｜            22342.66｜
└────────────┴─────────┴───────────┘

China Merchants Bank Put Warrants [Summary of Creation and Cancellation]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                 9100.00｜             9100.00｜                  0.00｜
└────────────┴─────────┴───────────┘

Baotou Steel Warrant 【 Summary of creation and cancellation 】
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                17900.00｜               0.00｜              17900.00｜
└────────────┴─────────┴───────────┘

Baotou Steel Put Warrant 【 Summary of creation and cancellation 】
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                  1400.00｜               0.00｜                1400.00｜
└────────────┴─────────┴───────────┘

Hangang Call Warrant [Summary of Creation and Cancellation]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                17300.00｜               0.00｜             17300.00｜
└────────────┴─────────┴───────────┘

Raw Water Put Warrants [Summary of Creation and Cancellation]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                  6600.00｜          200.00｜               6400.00｜
└────────────┴─────────┴───────────┘

Capital Call Warrant [Summary of Creation and Cancellation]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                16300.00｜            100.00｜            16200.00｜
└────────────┴─────────┴───────────┘

Wanhua Put Warrants [Summary of Creation and Cancellation]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                 9400.00｜            5300.00｜             4100.00｜
└────────────┴─────────┴───────────┘

Wanhua warrant 【 Summary of creation and cancellation 】
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                  500.00｜             200.00｜               300.00｜
└────────────┴─────────┴───────────┘

Yage warrant [creation and cancellation summary]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                12400.00｜               0.00｜              12400.00｜
└────────────┴─────────┴───────────┘

Yage put warrant [creation and cancellation summary]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                  5100.00｜           700.00｜                4400.00｜
└────────────┴─────────┴───────────┘

Haier put warrant [creation and cancellation summary]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                 7700.00｜           2500.00｜               5200.00｜
└────────────┴─────────┴───────────┘

Maotai Put Warrant [Summary of Creation and Cancellation]
┌────────────┬─────────┬───────────┐
| Total quantity created (10000 copies) | Total quantity cancelled (10000 copies) | Remaining quantity created (10000 copies) |
├────────────┼─────────┼───────────┤
｜                 22900.00｜          1000.00｜             21900.00｜
└────────────┴─────────┴───────────┘

(Xiangcai