Conformed Copy - L4309 - State Farms Commercialization Project - Supplemental Letter 1

Page 1 PEOPLE’S REPUBLIC OF CHINA CHINA TRUST AND INVESTMENT CORPORATION FOR ECONOMIC DEVELOPMENT June 12, 1998 International Bank for Reconstruction and Development 1818 H. Street N.W. Washington, D. C. 20433 United States of America Re: Loan No. 4309 CHA (State Farms Commercialization Project) Performance Indicators Ladies and Gentlemen: I refer to the Project Agreement of even date herewith between the International Bank for Reconstruction and Development (the Bank) and the China Trust and Investment Corporation for Economic Development (CTICED) for the above-noted Project (the Project Agreement). For purposes of Section IV, Part A. of Schedule 1 to the Project Agreement, CTICED shall monitor and evaluate the carrying out of the Project in accordance with the indicators set forth in the Annex to this Letter. Please confirm your agreement to the foregoing by signing on the form of confirmation below. Sincerely yours, China Trust and Investment Corporation for Economic Development By /s/ Li Zhaoxing Authorized Representative AGREED: INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT By /s/ Sven Sandstrom Authorized Representative