Penghua to raise money to set up new mutual fund.

Australasian Business Intelligence, April, 2002

Apr 23, 2002 (The Asian Wall Street Journal

ABIX via COMTEX) -- The Penghua Sector Growth Open-Ended Fund will be the fifth mutual fund in China. The mutual fund will be released by Penghua Fund Management. Penghua Fund Management entered into an alliance with Invesco Asia in 2000 over the creation of mutual funds for the Chinese market. The fund manager estimates that RMB200m or more is required for the new mutual fund to be feasible. The Industrial & Commercial Bank of China will have a role in the sale of units in the new fund.

Publication Date: 22 April 2002

PENGHUA FUND MANAGEMENT COMPANY: PENGHUA SECTOR GROWTH OPEN-ENDED

      FUND: 

INDUSTRIAL AND COMMERCIAL BANK OF

CHINA:

INVESCO ASIA FUND MANAGEMENT...