News Release

October 18,2004

Dr. Toshiko Satake Continues in her Appointment as an Honorary Vice Chairperson of the Chinese Cereals and Oils Association in Recognition of her Contributions to the Chinese Food Sector

This re-appointment was officially approved and made on September 15th, by the Chinese Association of Science and Technology, the parent committee of the Chinese Cereals and Oils Association. The tenure for the position is 4 years. This is her second term following the first which she started from middle of its term.

The Chinese Cereals and Oils Association was established in 1986, with the aim of making proposals to the government regarding technical development plans, standardization and modernization of cereal and oil fields. Among its activities are the opening of technical meetings, symposiums, seminars, exhibitions, technical courses and making publications. The Association belongs to the Chinese Association of Science and Technology, and has close relationships with the State Grain Administration. There are four branch associations, which are Cereals and Oils Storage Association, Foodstufffs Association, Oilseed Crushing Association and Feed Producing Association. It also has five committees, namely Organizing Committee, Study Communication Committee, Foreign Affairs Committee, Science and Technology Spreading and Publishing Committee and Technical Consulting Committee. There are 6,152 individual members and 571 corporate members.

Regarding this appointment, the chairperson of the committee, Mr. Bai Meiqing praised Dr. Satake's continuing efforts and her many accomplishments for the Chinese cereals and oils industry. Upon the appointment, Dr. Satake promised that she will "Give my best efforts to building a bridge between the two nation's cereals and oils industries, and to further deepen our relationships and promote the development of high technology in the food sector."

Satake Corporation is based in Hiroshima, Japan, and has business records in approximately 140 countries in the world. Satake started its business in China from 1984, and has one each rice mill joint venture company and PeriTec flour mill joint venture company in Beijing. It also has a wholly owned manufacturing plant in Suzhou. The market share of Satake in Chinese rice mills that adopt foreign equipment approaches 95%. Satake is now moving on to new business fields such as secondary processing of cereals, various cereals like millet, and also to inspection equipment.

* Please note descriptions in news releases are accurate as of the date of release and may differ from the most up-to-date information.