Hye Sung Industrial Co., Ltd.

<table width=570 valign=top cellpadding=0 cellspacing=0 border=0><tr> <td align=center height=40><IMG SRC="http://www.hyesung.co.kr/image/title/title4.gif" BORDER=0 ALT="Affiliated Company Profile HYE SUNG IND.(PJILS.) INC."></td></tr><tr> <td align=right valign=top> <table width=100% cellpadding=0 cellspacing=0 border=0 valign=top><tr> <td> <br><br><font size="-1"><img SRC="http://www.hyesung.co.kr/image/company/profile_com_img.gif" width="300" height="205" border=0 alt="" align="left"><b>Hyesung Industrial Co., Ltd.</b> manufactures and exports sound transducers, receivers, buzzers, microphones, speakers, and motors. Our management philosophy is timely delivery and continuous quality control for customer satisfaction. Our vision is to become a premier company that provides innovative products and services to meet our customers' demands in the rapidly changing consumer-solution industries.

All of our products are manufactured with high quality  materials and components according
to ISO 9001 quality assurance system. Moreover, each product is tested and inspected prior to delivery. We were selected as a promising Small & Medium company by the Korea Exchange Bank and also selected as a leading technology company by the Small and Medium Business Industry Certification Center. The Korea Industrial Technology Association has certified our factory and R&D center. </font> <p><font size="-1"> <b>Established in 1987,</b> Hyesung Industrial Co., Ltd. is a privately owned company with registered capital of US$2.5 million and a further US$6.3 million invested in business operations. Some 430 workers, including 78 production engineers and 13 quality assurance staff, are employed at the company, which is located in Busan. Annual revenue is US$7.5 million, 65 percent of which is accounted for by exports to North America, Europe, and the Asia-Pacific region.</font> </td></tr></table>
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