Dear members and friends:

We had a very busy and successful March and April. Thanks to the efforts of our members, we are moving toward a promising future for our foundation.

1. US-China Forum, which is USCF's major annual activity, has been decided to be held on July 20th and July 21st, 2001. We currently has signed a preliminary contract with Hyatt Hotel, San Jose, CA. The following US companies has confirmed with us to attend this Forum: Cisco System, Inc.; Dell Computer; Seagate Technology, Inc.; Peoplesoft Inc.; Microsoft Corp.; HP Inc., etc.

2. We will hold at least three Press Conferences in China: On May 29th in Shenyang, June 1st in Shanghai, and June 5th in Beijing. We will also have two Press Conferences in US: On June 10th in New York City and June 15th in San Jose. We encourage all our executive and advisory members to attend any of these above Press Conferences. (Please contact our 1 World Trade Center Office for a specific locations.) Members of USCF Association are also welcome to attend the events.

3. Our Executive Director Larry L. Lee visited Research Triangle Park, NC, Greenville, SC and Atlanta, GA for the 2001 US- China Forum. Larry met with our USA Chief Attorney Mr. David S. Robinson, Advisory member Mr. William Harrison in North Carolina. He also met CEO of eSASA.com Corp. Mr. John Harrison in Atlanta.

4. We recently set up our China Head Office in Shenyang, the largest city in Northeast China and recruited five new staffs. They are Xia Qiuju, Zhang Lianqiang, Sun Xueyan, Zhao Feng and Shao Fenglei. The China Head Office currently has four departments: International Exchange Department, Training Department, Investment Services Department and Membership Services Department. The main office of our China Headquarters has moved to the 21st Century Building - the newest building with the most advanced technology, such as Broad-bond Internet and newer telephone system, etc.

5. Our Beijing Office has moved to a new location at the end of April. The new address is Rm. 1404, Bldg. A, Hongyuan Apartment, No. 4 Jiuxianqiao Road, Chaoyang District, Beijing, China, 100015. It is a 25 stories and only two minutes from Beijing Airport Express Way. The telephone number is 10-6432-6025 and fax number is 10-64325993. The email address will remain the same.

6. Mr. Yang Dexin, the President of Dalian Railway Institution, with the other two colleagues visited New York City from March 27th to April 2nd, 2001. The main purpose of their trip was seeking US universities to build up long-term joint programs between two schools. USCF had arranged three universities for Mr. Yang. Mr. Larry Lee, our Executive Director, accompanied with them to visit the Fordham University Manhattan campus on March 28th, the East Stroudsburg University in PA on March 29th and the King's College in PA on March 30th. They had great meetings with the President/Dean of these three schools and visited the campus leaded by the hosts. After Mr. Yang's visit in NY, the three-people group went to the Penn-State University to have a short visit from March 30th to April 1st. After their entire trip in US, Mr. Yang, on behalf of his group, expressed their great gratitude to USCF for such excellent arrangement for them.

7. USCF held a welcoming banquet for our special Advisory members Mr. Qin Huasun, the former Ambassador from PRC to UN, when he was in New York on April 1st, 2001. The banquet was held at a private club named "Mountclear Country Club" in NJ. 18 people including USCF's members, friends and staffs from NY and NJ attended this banquet. Since it was not a very formal banquet, all the participants felt relax and comfortable during the banquet. The banquet had been received great comments from the attendees.