CBG- China consultants

Bryan Batson de Jauregui, President

Ms. Batson is the founder and president of The China Business Group. She has helped U.S., Asian and European companies in a wide range of industries to enter the China market and establish profitable operations, including manufacturers of medical devices, athletic shoes, chemical catalysts, ceramic chip capacitors, paint pigments, processed foods, textiles, tools, fine chemicals, analytical instruments, biotechnology products and turbomachinery design software.

Ms. Batson has been involved with China since 1982.  Prior to founding CBG she worked for other China advisory firms as well as the U.S.-China Business Council in Washington, D.C.  She also served as Chairman of the Board of the Greater China Business Network, a private, not-for-profit corporation that brought together leading executives and government officials from the U.S. and China for information exchange and business development.

Ms. Batson has a B.A. in East Asian Studies from Vanderbilt University, Magna Cum Laude, and an M.A. in International Economics and China Studies from The Johns Hopkins University School of Advanced International Studies.

Terry Y. Mo, Associate Director

Mr. Mo is an accomplished senior international executive with over twenty-five years of success in business development, sales & marketing and general management for industrial and technology products, most notably in the Greater China Region. His background includes strategic planning, business formation, project financing and P&L responsibilities for start-ups, joint ventures, and mergers/acquisitions in the United States, Latin America and Asia Pacific. He has held numerous senior management positions at Olin, Praxair, FMC, Great Lakes Chemical Corporation, and On Semiconductor (formerly of Motorola).

Mr. Mo was most recently Managing Director, China for Micron Technology, a $6 billion diversified semiconductor manufacturer. He was responsible for establishing in-country business entities for shared services, material sourcing, marketing and sales, manufacturing, R&D, trading distribution and logistics. During his time there, Mr. Mo formed three new wholly owned companies in Shanghai, Beijing and Shenzhen; improved sales revenue at an annual rate over 30%; established a wholly owned manufacturing company; led teams on site selection and government negotiations; and worked jointly with Corporate Development and Finance in developing and implementing a $50 million China venture for investments in design houses for new product opportunities.

Mr. Mo has an MBA in Finance and an MS in Management both from Rensselaer Polytechnic Institute and a BS in Chemical Engineering from Michigan University, Ann Arbor. He is also fluent in English and Chinese (Mandarin and Cantonese).

T. Ben Butler, Director of Retail Services

Mr. Butler recently served as the President of YUM! Brands Long John Silver and A&W restaurants. He led a network of 1,500 restaurants with $1 billion system sales and 400 franchise entities. Prior to that he ran the Latin American business.

Mr. Butler spent 5 years in Asia in key YUM! positions, including Vice President of Business Development-Asia. Based in Singapore, he oversaw a network of 2,000 KFC and Pizza Hut restaurants. He developed franchises and oversaw all new and re-modeled restaurant development as well as procurement of food, packaging, and equipment.

Mr. Butler began his tenure in Asia as Vice President, Supply Chain Management-Asia Pacific for YUM! Brands. He created and developed regional procurement that consolidated purchasing, negotiated regional agreements, and developed capabilities of the local supply chain managers in Asian countries.

Mr. Butler has a BA in Business Administration from the University of Western Ontario (IVEY School).

Eva Lu, Chief Representative, CBG Shanghai Representative Office

Ms. Lu has almost 15 years of experience in working with foreign companies in China. She has particular expertise in leading large market research projects, negotiating key partnerships, conducting site location analyses, and developing market entry and positioning strategies. Ms. Lu has an MBA from the Antai-Euromed School of Management at Shanghai Jiaotong University and a BA in Foreign Trade and English. Ms. Lu has studied in the US, Europe and China.

Yuan Zhou, Chief Financial Advisor

Mr. Zhou has over a decade of experience in China's financial industry.  He recently served as Chief Executive Office and Chief Financial Officer of the Hong Kong Futures Exchange.  During his tenure there he established a new treasury operation that reduced balance sheet risk, maximized profits and developed information platforms.  He also participated in the merging of the Futures and Stock Exchanges.

Prior to joining the HKFE Mr. Zhou served as Executive Director and China Country Head of Union Bank Switzerland, China.  During those four years he successfully marketed corporate finance, treasury and asset management products in China. He developed corporate, institutional and governmental relationships and expanded the Bank's China revenues while reducing costs.  Mr. Zhou also previously served as Vice President and Director of Research for State Street Bank in Boston where he established the Bank's Research and Information Center.

In the last two years Mr. Zhou has served as acting CEO for several Chinese companies, helping them to restructure their financial and technological platforms.  Mr. Zhou is a graduate of Beijing University and has a Master's degree in literature from Brandeis University.

Bryan David Marsh, Director, Marsh Consulting Group: Engineering, Procurement, Construction

Marsh Consulting Group is The China Business Group's construction management partner in China.  MCG provides consulting and owner's agent services for China construction projects, including:

• Initial Strategic Planning
• Feasibility Study Development
• Environmental Impact Analysis Coordination
• Build to Suit vs. Lease Back Analysis
• Capital Expenditure Budget Forecasting
• Solicitation and Review of Chinese Design Firms
• Preliminary Design Package Development
• Solicitation and Review of Chinese Construction Firms
• Project Management Time Line Scheduling
• Coordination with local building committeesContract Negotiation with Chinese Design Firms, EPCM Management Firms, Chinese Construction and Supervisory Companies

Joseph J. O'Leary, Chief Logistics & Procurement Officer

Mr. O'Leary is a thirty-year veteran of Polaroid Corporation where he held the following positions: Vice President, Worldwide Logistics and Service; Vice President, International Logistics; Vice President, Supply Chain, Asia Pacific; Director, Worldwide Technical and Industrial Film Assembly and Plant Manager, Film Manufacturing.

During his tenure at Polaroid Mr. O'Leary reorganized logistics in the Asia region, including China, which had local warehouse and distribution operations.  He created a spoke and hub system and revamped the logistics providers system.  He reduced freight costs by 46% and inventory by 25%.  Mr. O'Leary also has significant expertise in sourcing and supplier management in China.

Mr. O'Leary has substantial manufacturing experience, including management of a $400 million, 6 plant, 5,000 employee operation, employing optimization techniques such as JIT, Kaizen and Six Sigma.

Mr. O'Leary has an MBA from Northeastern University and is a graduate of the Program for Management Development at Harvard University.  He has an undergraduate degree in Chemistry.

Yang Jie, Chairman-Advisory Board, The China Business Group Beijing Representative Office

Ms. Yang has almost two decades of experience in analyzing the China market for foreign investors, and in using valuable connections at both the central and provincial level to conclude significant projects for foreign firms.  As Project Manager for U.S.-based Jones and Lamson Waterbury Farrel Corporation Ms. Yang successfully negotiated the sale of US$13 million of the company's products in China.  As Director of Development-China for the French company Carrefour, Ms. Yang helped establish one of the first major supermarket joint ventures in Beijing.  Prior to joining CBG Ms. Yang served as Manager of Trade Services with the First National Bank of Chicago where she established and managed the letter of credit department.

Ms. Yang has been working with foreign companies in China since 1981 when she helped the Rhone-Poulenc Group of France penetrate the Chinese chemical and pharmaceutical markets.  Ms. Yang, a Chinese national, is fluent in English and French.  She has an M.A. in Multinational Commerce from Boston University.

Andrew M. Carter, Director

Mr. Carter is vice president of Hyperion Funds in New York, an investment firm that specializes in mortgage-backed fixed income securities.  Prior to joining Hyperion Mr. Carter was president of Andrew M. Carter & Company, a limited liability partnership that managed high quality fixed income portfolios for substantial institutions. Over the past thirty years Mr. Carter has managed investment portfolios for many of the largest U.S. pension plans, foundations and educational institutions. Prior to founding Andrew M. Carter & Company, Mr. Carter established the first bond management effort at Jennison Associates Capital Corporation. During his 17 year tenure as head of Jennison's bond group, assets under management grew from less than $100 million to more than $10 billion. Before joining Jennison, Mr. Carter built a bond management company in partnership with Standard and Poor's Corporation. Mr. Carter also started Wellington Management Company's bond account management effort which grew from zero to over $500 million in the four years he spent with the firm.

James H. Bodurtha, Director

Mr. Bodurtha is the independent Co-Chairman of the Board and of the Audit Committee of more than 50 mutual funds with assets of approximately $39 billion managed by BlackRock, Inc. Mr. Bodurtha also is a founding member and the first Chairman of the Independent Directors Council of the Investment Company Institute, and a member of the Executive Committee of the Board of Governors of the Investment Company Institute. In 2004, the Institutional Investor designated Mr. Bodurtha mutual fund Trustee of the Year. From 1980 to 1993, he was a partner in the law firm of Squire, Sanders & Dempsey where he chaired that firm’s investment company and capital markets practice.