（1） Over the past year, we have worked with the Province on several aspects. We worked

with them on the fundamental network architecture that would be required for “Photon Valley”. We worked with them during their visit to the financial centers in New York, San Francisco and Dallas over the last year at some projects and plans. We already had some Bell Laboratory scientists visiting the province and went into collaboration with people in universities and the industry.

（2） We have had a meeting with Guangdong Development Bank and we informed them that

based on market surveys that we have made from investors in United States, these are mainly pension funds and common funds, which dominate investment in AIG, and the third party management fund.