Chindex Press Room

U.S.-CHINA INDUSTRIAL EXCHANGE INC.
ANNOUNCES RESULTS FOR THE SECOND QUARTER 1995

BETHESDA, MARYLAND - August 14, 1995 - U.S.-CHINA INDUSTRIAL EXCHANGE, INC. (NASDAQ:CHDX), a leading American company in market representation, sales and consulting services for Western business in China since 1981, today announced its results for the second quarter and six months ended June 30, 1995. For the second quarter, the company reported a net loss of $578,000 or $0.17 per share. In the same period a year earlier, the company had earnings of $29,000 or $0.02 per share. For the six months the company reported a net loss of $790,000 or $0.23 per share. For the same period a year earlier, the company had earnings of $253,000 or $0.16 per share.

"We expected a sluggish six months, "Roberta Lipson, President and CEO said in Beijing, "We have the experience here to know that it is important not to overestimate the significance of short term downswings. We are optimistic that the second half of the year will show improved performance. Moreover, our financial position continues to remain strong with cash-on-hand at $4.5 million out of total working capital of $6.5 million."

Capping efforts spanning nearly a year and a half, the company announced today that it signed an $8.4 million contract with the Ministry of Public Health in Beijing. The large contract, for the supply of the company’s medical equipment, will be financed by direct loans from the U.S. Export-Import Bank and calls for full delivery by the end of 1995. Company representatives noted that final Bank of China approval of the deal is expected shortly.