The introduction ceremony of BOPS (BYC Occupational Pension Scheme) was held on March 31, 2008 in the Sofitel Galaxy Nanjing. Ms. Zhou Ying, the deputy director of Jiangsu Labor and Social Security Bureau, the leaders from Tai Ping Pension Co.LTD., Industrial Commercial Bank of China and Watson Wyatt Consultancy (Shanghai) Company, BYC Management and the representatives of company Labor Union participated in the ceremony. Ms. Zhou Ying, Mr. Lin Zhe from Tai Ping Pension Co.LTD., Mr. Dai Chunlin from ICBC, Dr. Blumenberg, President of BYC, Mr. Cheng Zhong, General Manager of HR and Administration Division of BYC and Mr. Marxen, Director of HR Department of BYC gave the speeches respectively.

In his opening speech, Mr. Marxen emphasized: "I'm proud of the introduction of BOPS. It will become a strong third pillar of individual provision besides the governmental and personal pension scheme for old people. It is a successful story right from the beginning with the participation of 97 percent of our employees."

Mr. Cheng Zhong illuminated the background of the BOPS and made comments that firstly, it was right time for implementation of BOPS, secondly, it was acceptable for both the Company and the employees and thirdly, the procedure was totally coincident with the law and rules. And he said it was a strategic welfare for the employees proffered by the Company which would enhance the enterprise cohesiveness and laid his hope on that the partners could manage the Annuity in a secure way with value retained and incremented and stand test of time into the bargain.

Ms. Zhou Ying praised BOPS: "With BOPS, we can see that BYC is not only a modern chemical company but also takes the leading role in sustainable human resources management in Nanjing and Jiangsu. BOPS will bring a bright future to all participants. BYC has set a good example in this regard." Dr. Blumenberg added:" our parent companies advocate that every corporation should take its social responsibilities, BOPS just goes in line with this concept and marks a new milestone in the sustainable development of BYC."

Finally Dr. Blumenberg, Mr. Cheng Zhong, Mr. Lin Zhe and Mr. Dai Chunlin signed on the BOPS Trustee Contract, BOPS Account Management Contract and BOPS Record Keeper Management Contract respectively, which signified the start of BOPS.