ORPORATE PROFILE Cellugine Corporation is an innovative and professional outsourcing design center merging both European and Asian influences in our creations. We are engaged in the design, development and marketing of a wide range of innovative consumer products worldwide. We also support our strategic partners and joint developers with the emulation of marketing strategies and distribution network for their products worldwide. At Cellugine Corporation, we place a high emphasis on professionalism, transparency and strong governance. This corporate culture matched with our passion for innovation sets us on a clear direction to conceptualize, design and engineer the ideas of the future. We greatly value the longstanding and strong relationships with our B2B customers, suppliers and strategic partners. We cultivate a strong communication culture with our customers to channel frequent feedback and productive inputs from them to improve on our design creativity and incorporation of new wireless technology. Fiscal 2004/2005 will mark a new chapter for us as we venture into 3G (WCDMA/UMTS) wireless product research with our strategic partners. In keeping a steady pace with dynamic global consumerism, we will continue to consolidate our market position by strengthening ties with our strategic partners, and introducing inspiring new products which integrates the latest technologies. Our continued growth will be driven by the projected increase in worldwide demand for wireless products and our expansion into new geographical markets.