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The 12th BOD Meeting Held in BeijingNovember 24, 2006

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On November 24, 2006, the Company held the 12th BOD Meeting in Beijing. On the meeting, acknowledged by all the board members present, Mr. Li Chengfeng replaced Mr. Dai Houliang as the BOD member and chairman of BASF-YPC Company Limited. The board of directors listened to the work report of the management team and made decision for several important issues concerning operation and development of the Company.

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