FindLaw - 5 Dong Street (Hebei, China) Building Leasing and Property Management Agreement - Hebei Communication Service Co. and Hebei Mobile Communication Co. Ltd.
               BUILDING LEASING AND PROPERTY MANAGEMENT AGREEMENT


         This Agreement is executed by Party A and Party B on August 1, 2000 in
Shijiazhuang:

PARTY A: HEBEI COMMUNICATION SERVICE COMPANY
Address: 220 Qing Yuan Jie, Shijiazhuang

PARTY B: HEBEI MOBILE COMMUNICATION COMPANY LIMITED
Address: 220 Qing Yuan Jie, Shijiazhuang

WHEREAS:
1.       In order to develop its communications business and engage in
         normal production and operating activities, Party B needs to lease from
         Party A certain buildings and auxiliary facilities owned, or leased
         from a third party, by Party A.
2.       Both Parties agree that Party A shall provide Party B with building
         leasing and property management services in accordance with the terms
         and conditions of this Agreement.

         THEREFORE, Party A and Party B have reached the following Agreement in
the principle of equality, mutual benefit and fairness through friendly
consultations:


                           ARTICLE ONE LEASED PROPERTY

1.1      Buildings and other properties to be leased by Party A to Party B
         hereunder include all or part of the following:

         1.1.1    Buildings in respect of which Party A has title certificates;

         1.1.2    Buildings in respect of which Party A does not have title
                  certificates but has obtained use right under relevant
                  documents and agreements;

         1.1.3    Buildings under Party A's actual control and use
                  notwithstanding disputes over their ownership or title due to
                  historical or other reasons;

         1.1.4    Temporary fixtures for which Party A has obtained legal use
                  right.

         1.1.5    Buildings or transmission masts owned by Party A; (buildings
                  under 1.1.1 to 1.1.5 above, "Party A's Own Property")

         1.1.6    Buildings leased by Party A from a third party, in respect of
                  which Party A has the right to sub-lease to Party B ("Party
                  A's Subleased Property").


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1.2      Party A agrees to deliver to Party B the above buildings together with
         their existing auxiliary facilities, such as water, electricity,
         heating, power and other utilities, and to concurrently provide
         property management services for the buildings leased to Party B
         hereunder; provided that, Party B shall pay the relevant fees and
         charges in accordance with the terms of this Agreement and applicable
         standards stipulated by relevant government authorities.


                     ARTICLE TWO SCOPE AND PURPOSE OF LEASE

2.1      Party A agrees to lease buildings and their auxiliary facilities (the
         "Leased Property") to Party B in accordance with the terms and
         conditions of this Agreement. Party B agrees to lease from Party A the
         Leased Property in accordance with the terms and conditions of this
         Agreement and accept property management services provided by Party A
         hereunder.

2.2      Party B shall use the Leased Property for placing communications
         equipment, office use, conducting business operations or carrying out
         other legal activities and shall not alter the use of the Leased
         Property or sublease them without Party A's consent thereto.


                    ARTICLE THREE DELIVERY OF LEASED PROPERTY

         Party A shall clean up and deliver the Leased Property to Party B upon
execution of this Agreement. The Leased Property, upon delivery, shall be in
good conditions satisfactory to the requirements of Party B.


     ARTICLE FOUR PAYMENT OF RENT, PROPERTY MANAGEMENT FEE AND RELEVANT FEES

4.1      The rent of the properties Party B leases from Party A and other
         related fees shall be determined by the Parties on the basis of the
         market price prevailing throughout Hebei Province. The standards of the
         rent and property management fee shall be on the basis of the local
         market price. Water and electricity fees shall be calculated by the
         actual consumption and in accordance with the relevant national
         regulations and shall be charged on the basis of the market price.

         4.1.1    Party B agrees to pay Party A rent for Party A's Own Property
                  and the auxiliary facilities, charges for use of relevant
                  facilities and equipment, as well as property management fee
                  as agreed upon by the Parties in this Agreement.

         4.1.2    Party B shall pay, within 10 days upon the execution of this
                  Agreement the rent and the property management fee for the
                  period from August 1, 2000 to December 31, 2000 for the Leased
                  Property and the auxiliary facilities. Party A and Party B
                  agree that the rent shall be paid on a semi-annual basis
                  beginning from 2001. The Parties shall


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                  complete the verification of specific items and amounts of the
                  rent by March 15 and September 15 each year. The rent of the
                  Leased Property and the property management fee payable for
                  the first half and second half of the year shall be paid by
                  Party B to Party A on or before March 25 and September 25,
                  respectively. Party A shall provide Party B with valid
                  invoices in respect of such payment upon the settlement.

         4.1.3    Party B shall pay the rent in accordance with the provisions
                  of this Agreement prior to the expiry of the payment period as
                  agreed upon by the Parties. If Party B fails to fulfill its
                  obligation of payment stipulated in this Agreement, Party B
                  shall be charged a surcharge of 0.03% of the overdue and
                  unpaid amount per day until Party B have fulfilled such
                  obligations; in the event that Party B fails to make the
                  payment as stipulated in this Agreement for two months, Party
                  A shall have the right to terminate the lease to Party B of
                  the relevant part of the Leased Property, but other parts of
                  this Agreement shall remain valid.

         4.1.4    Party A shall pay the taxes and expenses in respect of the
                  lease of Party A's Own Property.

4.2      Payment of rent and related fees for Party A's Subleased Property

         In respect of Party A's Subleased Property, Party A shall advise Party
         B the rent, the time of rent payment and the method of payment agreed
         upon by Party A and the third party from whom Party A subleases such
         property. Party B shall pay such third party directly such rent at such
         time and in such method as advised by Party A.


           ARTICLE FIVE USE, INCREASE AND DECREASE OF LEASED PROPERTY

5.1      Party B shall have the right to occupy and enjoy the use of the Leased
         Property and the auxiliary facilities without interference in
         accordance with the provisions of Article 2 during the term of this
         Agreement.

5.2      According to its business needs, Party B may request Party A to
         increase or decrease the amount of the Leased Property and Party A
         shall give its consent if conditions permit. The Parties shall then
         re-determine the rent and other related fees on the basis of the amount
         and quality of the increased or decreased Leased Property.


                     ARTICLE SIX FITTING-OUT AND RENOVATION;
                         ADVERTISING ON LEASED PROPERTY

6.1      Party B has the right, upon Party A's written consent and at its own
         expense, to conduct any fitting-out, installation, change or
         improvement inside or outside the Leased Property; provided that, Party
         B shall ensure that:


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         (1)      Such fitting-out, installation, change and improvement will
                  not in any essential way change the nature of the Leased
                  Property;

         (2)      Any construction project relating to such fitting-out,
                  installation, change and improvement will be conducted in an
                  appropriate way so that all the people and properties are
                  protected and the businesses of Party A in the nearby area
                  will not be unreasonably disturbed;

         (3)      In the event that such fitting-out or renovation work
                  endangers or causes any potential danger to the safety of the
                  original structure, Party B shall reinstate the Leased
                  Property and make compensation for the corresponding losses,
                  if any.

6.2      Party B may, to the extent that it will not infringe upon Party A
         interests, promote its enterprise image and businesses by hanging or
         posting promotional materials or in other legal ways on the side walls
         of the Leased Property; provided that such promotion activities shall
         not exceed the limits of the Leased Property. The Parties shall specify
         the scope of such promotion activities and locations allowed for such
         promotion materials when entering into lease of the Leased Property.
         Upon termination of this Agreement, Party B shall reinstate the Leased
         Property at its own expense and return the Leased Property to Party A;
         or, Party B shall return the Leased Property as fitted out and
         renovated, in which case Party A shall make appropriate compensations
         to Party B.


                 ARTICLE SEVEN MAINTENANCE, REPAIR, REPLACEMENT
                       AND IMPROVEMENT OF LEASED PROPERTY

7.1      Party A shall conduct routine maintenance, repairs, replacement and
         improvement of the Leased Property and the auxiliary facilities at its
         own expense; provided that, expenses incurred from maintenance and
         repairs resulted from inappropriate use by Party B shall be borne by
         Party B.
7.2      Party A shall immediately repair any damage to the Leased Property not
         caused by Party B, exert its utmost efforts to ensure the normal use
         by Party B of the Leased Property and bear the expenses in connection
         therewith. In the event that such an instance occurs and , in Party
         B's judgment, the damage is so serious as to affect the normal use of
         the Leased Property by Party B, Party B may select to issue a written
         notice to Party A, requesting to suspend or terminate the lease of the
         damaged part of the Leased Property, in which case Party B need not
         pay the rent for the damaged part of the Leased Property beginning
         from the occurrence of such damage.
7.3      Party B shall repair or compensate for damages caused by it to the
         Leased Property and the relevant constructions or other facilities of
         Party A and bear the expenses. In the event of such an instance, Party
         A, judging from the seriousness of the damage, may have the option to
         issue a written notice to Party B, requesting to suspend or terminate
         the lease of the damaged part of


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         the Leased Property, to which Party B shall give its consent, in which
         case Party B shall pay the rent due and payable prior to such
         termination for the damaged part of the Leased Property and other
         relevant charges.


            ARTICLE EIGHT TERM, CANCELLATION AND RENEWAL OF AGREEMENT
8.1      This Agreement, upon execution by the authorized representatives of the
         Parties and affixing with their official seals, shall come into effect
         on August 1 and expire on July 31, 2001. Unless otherwise stipulated
         in this Agreement, neither Party shall terminate the Agreement prior
         to the expiration of the lease term.
8.2      Unless otherwise stipulated in this Agreement or with Party B's prior
         written consent, Party A shall not terminate this Agreement prior to
         the expiration of the lease term hereunder. According to its actual
         needs, Party B may terminate or partially cancel this Agreement prior
         to the expiration of the term of this Agreement upon three month prior
         written notice to Party A. Within seven days after the early
         termination or partial cancellation of this Agreement, Party A shall
         refund Party B, out of the rent and property management fee already
         paid by Party B, the rent of Leased Property in respect of which the
         lease has been terminated or cancelled before its expiration for the
         period between the date of such earlier termination or cancellation of
         the lease and the scheduled date of its termination hereunder.

8.3      In respect of Party A's Own Property, this Agreement shall be
         automatically extended for one year upon the expiration of its term,
         unless Party B indicates otherwise in writing. The times of such
         extension shall be unlimited. In respect of Party A's Subleased
         Property, so long as the lease between Party A and the original lesser
         remains effective or extendable, this Agreement shall be automatically
         extended for one year upon the expiration of its term (the times of
         such extension shall be unlimited), unless Party A indicates in writing
         of its intention to terminate this Agreement three months prior to the
         expiration date hereof.


             ARTICLE NINE REPRESENTATIONS AND WARRANTIES OF PARTIES

9.1      Each of the Parties represents and warrants to each other as follows:

         (1)      It is a limited liability company duly established and in
                  valid existence under the laws of the People's Republic of
                  China;

         (2)      It has the right and authority to enter into this Agreement
                  and fulfill its obligations;

         (3)      Its representative who will sign this Agreement has been fully
                  authorized to do so by a valid letter of authorization or by
                  the relevant resolution of its Board of Directors; and


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         (4)      Upon the execution of this Agreement and its annex attached
                  hereto, this Agreement shall be binding upon it and can be
                  enforced under applicable laws.

9.2      Party A hereby represents and warrants to Party B as follows:
         (1)      Party A has the right and authority to legally own the Leased
                  Property stipulated under this Agreement, and possesses all
                  the relevant and complete approvals and certificates
                  evidencing its legal ownership of the Leased Property
                  stipulated under this Agreement, or has the right to sublease
                  to Party B properties it leases from a third party. Party A
                  has the right to enter into this Agreement and to lease or
                  sublease to Party B the Leased Property stipulated in Article
                  One (including the site and auxiliary facilities) in
                  accordance with the terms and conditions herein; in the event
                  that Party A's property rights and use rights to the property
                  herein are contested in any circumstances and for whatever
                  reasons, and Party B is unable to exercise its rights as a
                  lessee or sustain other damages, Party A agrees to hold
                  harmless from and indemnify Party B against any losses
                  resulted therefrom;
         (2)      Upon delivery to Party B for use, the Leased Property shall be
                  in good conditions for normal use;

         (3)      As long as Party B has paid the rent for the Leased Property
                  and observed and fulfilled all the representations,
                  commitments and conditions under this Agreement, Party B shall
                  be able to freely occupy and enjoy the use of the Leased
                  Property within the term of this Agreement without
                  interference.

9.3      In the event that any representations or warranties made by Party A in
         Articles 9.1 and 9.2 above are untrue or incomplete, Party B shall have
         the right to terminate this Agreement at any time, in which case Party
         B shall have the right to claim compensation from Party A for all the
         actual losses Party B has sustained.

9.4      Party B hereby represents and warrants to Party A as follows:
         9.4.1    Party B will pay the relevant rent to Party A on a timely
                  basis in accordance with this Agreement. In the event that
                  Party B delays the rent payment for more than one day, Party B
                  shall, in addition to payment of the rent overdue, pay, upon
                  Party A's demand, a penalty of 0.03% of the total overdue
                  and unpaid payment for each day overdue until Party B has
                  completely fulfilled its obligations;
         9.4.2    Without Party A's written consent, Party B shall not sublease
                  or transfer to a third party any part of the Leased Property
                  or any of its rights and obligations hereunder, or change the
                  use and purpose of the Leased Property and any utilities.
                  Should Party B violate any of the aforesaid provisions, Party
                  A shall have the right to request Party B to stop such conduct
                  and pay a surcharge equal to two times the proceeds


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                  from such sublease or transfer received by Party B, if any.


                  ARTICLE TEN UNDERTAKINGS AND INDEMNIFICATION

10.1     Unless otherwise stipulated in this Agreement, Party B shall, upon the
         demand of Party A, indemnify Party A against and hold Party A harmless
         from losses, expenses, damages, claims, actions, debts or liabilities
         arising from the following causes:

         10.1.1   injuries of any person or damages of property of citizens or
                  institutions other than Party A or both Parties to this
                  Agreement due to failure of performance or observation by
                  Party B of this Agreement, unless such losses, expenses,
                  damages, claims, actions, debts or liabilities were caused by
                  Party A's gross negligence or willful misconduct or by an
                  event of Force Majeure.

10.2     Unless otherwise stipulated in this Agreement, in the event of personal
         injuries or property damages within the premises of the Leased Property
         due to failure of Party A to fulfill its rights and obligations as
         stipulated in this Agreement, Party B may claim for compensation from
         Party A and Party A shall indemnify Party B against and hold Party B
         harmless from any losses, expenses, damages, claims, actions, debts or
         liabilities unless such events were caused by gross negligence or
         willful misconduct on the part of Party B or by an event of Force
         Majeure.

10.3     Due to historical reasons, certain Leased Property leased by Party B
         have not been granted with title certificates and leasing permits. The
         Parties agree that Party A shall obtain the aforesaid certificates and
         permits and Party B shall render necessary assistance. Party A shall
         bear all the relevant fees and expenses in the course of obtaining the
         aforesaid certificates and permits. Before Party A has obtained such
         certificates and permits, neither Party shall cancel this Agreement on
         the ground that Party A has not acquired the aforesaid documents, or
         the Party raising the issue of canceling this Agreement shall bear, in
         addition to its own losses, all the losses sustained by the other
         Party.
10.4     Party A hereby acknowledges and agrees that any dispute with a third
         party arising from the lack of clarity of the property rights of the
         Leased Property shall have no bearing on Party B, and that Party A
         shall resolve any contest raised by any third party over Party B's use
         of the Leased Property, and such contest shall not affect Party B's
         use of the Leased Property hereunder. Party A shall compensate Party B
         for any losses sustained by Party B as the result of the aforesaid
         reason.

                         ARTICLE ELEVEN CONFIDENTIALITY

11.1     Both Parties to this Agreement herein shall keep strictly confidential
         the operational data and information of the other Party. Neither Party
         shall,


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         without the other Party's written consent, provide or disclose to any
         company, enterprise, organization or individual any data or
         information with regard to the operations of the other Party, except
         for circumstances stipulated by the laws of the PRC and of the listing
         place of China Mobile (Hong Kong) Limited, or by either Party, for the
         purpose of its reorganization, to a third party (including without
         limitation to, relevant government departments and all the
         intermediary institutions involved in the reorganization) orally or in
         writing.

               ARTICLE TWELVE LIABILITIES FOR BREACH OF AGREEMENT

12.1     Any failure of either Party to perform any of the terms hereunder shall
         be deemed as breach of contract. Upon confirmation of occurrence of a
         breach, the breaching Party shall, within ten days of receiving a
         written notice from the non-breaching Party explaining the
         circumstances of such breach, correct such breach and make written
         notification to the non-breaching Party to the same effect; in the
         event that within ten days the breaching Party has not correct the
         breach or rendered any explanation in writing, the other Party shall
         have the right to terminate this Agreement prior to its expiration upon
         written notice to the breaching Party, in which case the breaching
         Party shall be responsible to compensate all the economic losses thus
         sustained by the other Party. In the event that one Party believes that
         such breach is nonexistent, both Parties shall consult with each other
         and try to resolve the issues thus caused. Should no resolution be
         reached through consultation, the issue shall be resolved in accordance
         with the dispute resolution clause herein.


                         ARTICLE THIRTEEN FORCE MAJEURE

13.1     Any event or circumstance beyond the reasonable control of the Parties
         and could not be avoided by exercise of due care on the part of the
         affected Party shall be deemed as an "event of Force Majeure" and shall
         include, but not limited to, earthquake, fire, explosion, storm, flood,
         lightening, or war.

13.2     Neither Party shall bear any liability for breach of contract to the
         other Party for its failure to carry out all or any of its obligations
         hereunder as a result of an event of Force Majeure. However, the Party
         or Parties affected by an event of Force Majeure shall, within fifteen
         days of the occurrence of the such event, notify the other Party of
         such event of Force Majeure along with relevant documentary evidence
         issued by the relevant government authorities. The Party or Parties
         shall resume the performance of its/their obligations hereunder within
         a reasonable period of time after the effects of the event of Force
         Majeure have been eliminated.


              ARTICLE FOURTEEN GOVERNING LAW AND DISPUTE RESOLUTION
14.1     The execution, validity, implementation, interpretation and resolution
         of dispute of this Agreement shall be governed by the laws of the
         People's Republic of China.

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14.2     Any dispute arising from or in connection with the validity,
         interpretation or execution of this Agreement shall be settled by the
         Parties through friendly consultations. In the event that no resolution
         can be reached through consultations, either Party may submit the
         dispute to Shijiazhuang Arbitration Commission for arbitration in
         accordance with its then effective arbitration rules. Once Beijing
         Mobile Communication Company Limited is transformed into a wholly
         foreign-owned enterprise, the dispute resolution institution will
         automatically change into China International Economic and Trade
         Arbitration Commission and any disputes shall be resolved in accordance
         with its then effective arbitration rules in Beijing. The award of such
         arbitration shall be final and binding upon both Parties.

14.3     Except for matters under arbitration, the remaining part of this
         Agreement is still in effect during the time of arbitration.

                      ARTICLE FIFTEEN ASSUMPTION, TRANSFER
                          AND TERMINATION OF AGREEMENT
15.1     Neither Party may assign or transfer all or any part of its rights and
         obligations under this Agreement to any third party without the other
         Party's prior written consent thereto.

15.2     In the event that Party A transfers its own buildings, Party A shall
         ensure that this Agreement will be equally binding upon the transferee.

15.3     Party A hereby acknowledges that Party B may be transformed into a
         wholly foreign-owned enterprise during the term of this Agreement
         without consent or acknowledgement by Party A either prior to or after
         the event, and that Party B's entire rights and obligations under this
         Agreement shall not be affected or changed on the ground that the
         nature of the company has changed into a wholly foreign-owned
         enterprise. Party A will acknowledge the legal status of such wholly
         foreign-owned enterprise in performing this Agreement.

15.4     In the event that the following conditions are not met, Hebei Mobile
         Communication Company Limited shall be entitled to terminate this
         Agreement at any time. After the termination of this Agreement, the
         Parties shall cease to enjoy any rights or assume any obligations under
         this Agreement or in connection with its termination, except the rights
         and obligations that have incurred under this Agreement prior to such
         termination.

         (1)      China Mobile (Hong Kong) Limited ("CMHK") shall have been
                  granted relevant waivers by the Stock Exchange of Hong Kong
                  Limited ("HKSE") for CMHK's connected transactions in
                  accordance with the listing rules of HKSE; and

         (2)      The independent shareholders of CMHK who are deemed to be
                  independent in accordance with the listing rules shall have
                  approved relevant transactions.


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                             ARTICLE SIXTEEN NOTICES

16.1     Any notice or other document to be given under this Agreement shall be
         delivered in writing and may be delivered in person, sent by registered
         mail or transmitted by facsimile to the Parties at their legal
         addresses stated in this Agreement or any other addresses a Party may
         have notified the other Party in accordance with this Article.

16.2     Any notice or document shall be deemed to have been received at the
         time as follows:

         if delivered in person, at the time of delivery;

         if delivered by registered mail, five (5) business days after being
         posted (excluding Saturdays, Sundays and public holidays); and

         if transmitted by facsimile, upon receipt, or if the time of
         transmission is during non-business hours, it shall be deemed to have
         been given at the beginning of the normal business hours of the
         succeeding day (excluding Saturdays, Sundays and public holidays),
         subject to proof by the sender or confirmation from the facsimile
         machine used for such transmission that a satisfactory transmission has
         been completed.


                         ARTICLE SEVENTEEN MISCELLANEOUS

17.1     This Agreement constitutes the entire agreement between the Parties
         with respect to the subject matter of this Agreement and supercedes any
         and all discussions, negotiations and agreements between them regarding
         the same subject matter prior to the execution of this Agreement.

17.2     In the performance of this Agreement, if any provision herein becomes
         ineffective or unenforceable as the result of implementation or
         amendment of law, such provision shall be ineffective to the extent
         that such law applies, without invalidating the remaining provisions of
         this Agreement. The Parties hereto have the rights to amend the
         provisions affected by the future implementation or amendment of law,
         which amendment shall constitute an integral part of this Agreement on
         the condition that such amendment will have no material effect on
         either Party's economic benefits hereunder.

17.3     Neither Party shall have the right to amend or modify this Agreement
         without both Parties' written confirmation thereof; the Parties,
         however, shall be able to enter into supplementary agreements to govern
         matters not considered herein.

17.4     This Agreement is signed in four counterparts. Each Party will keep two
         copies. The annex and/or supplementary agreements hereto are an
         integral part hereof and shall have the same force and effect as this
         Agreement.


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PARTY A: HEBEI COMMUNICATION                   PARTY B: HEBEI MOBILE
         SERVICE COMPANY                                COMMUNICATION COMPANY
                                                        LIMITED


    -------------------------
By:        s/Huang Yu                          By:    s/Zhang Liande
    Authorized representative                      Legal representative

                                       11
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      INVENTORY AND VALUATION OF LEASED AUXILIARY BUILDINGS AND PROPERTIES

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                          Appraisal Base date: June 30th, 2000
-----------------------------------------------------------------------------------------------------------------------------------
                                                                    Leased
No.  Name of Building      Detailed Address   Structure   Number   Floorage       Time of        Lease Term      Rent     Rent/year
                                                         of Story  (Square   Completion of the  (from _ to _)                RMB
                                                                    meters)   Building (mm/yy)
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>        <C>       <C>       <C>                <C>              <C>      <C>
 1   Garage of GuRMB Post  Qiao Dong Street    Brick/       1         20            92                           3778       3778
     Office                                   Concrete

###  Garage of Chongli     Chongli             Brick/       1         21           95.12                         3000       3000
     Telecommunication     Telecommunication  Concrete
     Bureau                Bureau







-----------------------------------------------------------------------------------------------------------------------------------
         Total                                                        41                                       6,777.6    6,777.60
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                                                  Unit: RMB
----------------------------------------------------------------------------------------------------------------------
                                              Rent/Square               Lessor's Ownership Documentation
No.  Name of Building      Detailed Address      meter     Leasing                                            Remarks
                                                           Contract   Building
                                               (RMB/year)    (X)        Title        Land Use       Others
----------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>          <C>        <C>            <C>            <C>       <C>
 1   Garage of GuRMB Post  Qiao Dong Street     188.88
     Office

###  Garage of Chongli     Chongli              142.86
     Telecommunication     Telecommunication
     Bureau                Bureau







----------------------------------------------------------------------------------------------------------------------
         Total
----------------------------------------------------------------------------------------------------------------------
</TABLE>

Notes:  1)  This form is specifically for auxiliary buildings leased for mobile
            communications;
        2)  Please provide copies of leasing contracts for buildings in respect
            of which leasing contracts have been signed;
        3)  Please fill in the "Remarks" if necessary.
<PAGE>   13
           INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED
                              FOR BUSINESS PURPOSES

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                          Appraisal Base date: June 30th, 2000
-----------------------------------------------------------------------------------------------------------------------------------
                                                                    Leased
No.  Name of Building      Detailed Address   Structure   Number   Floorage       Time of        Lease Term      Rent     Rent/year
                                                         of Story  (Square   Completion of the  (from _ to _)                RMB
                                                                    meters)   Building (mm/yy)
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>        <C>       <C>       <C>                <C>            <C>        <C>
 4   Zhangbei Grain        5 Dong Street      Frame         4         89            90.5                        15750       15750
     Bureau Service
     Building

10   Wanquan               9 Jian Guo         Brick/        2         60            85.1                         6000        6000
     Telecommunication     Road, Min Zhu      Concrete
     Building              Street (Kong
                           Jia Zhuang)

12   Construction Bank of  Ren Min Road,      Steel/        1        120                                        25000       25000
     China Branch of Ren   Wei County         Concrete
     Min Road, Wei County

13   Post Office Branch    Nan Liu Zhuang     Steel/        1         15                                         2000        2000
     of Nan Liu Zhuang,                       Concrete
     Wei County

14   Post Office Branch    Xi He Ying         Steel/        1         14                                         3000        3000
     of Xi He Ying, Wei                       Concrete
     County

17   Chongli               Chongli Telecom-   Brick/        5         42           95.12                        10000       10000
     Telecommunication     munication         Concrete
     Building              Building

18   Xuanhua Department    East 45 Pai Lou    Brick/        1        38.4           58.1                        48000       48000
     Building                                 Concrete

19   Xuanhua Excavation    Shuncheng          Brick/        1         22            99.8                        15840       15840
     Machinery Factory     Street             Concrete

21   Nan Street Sales      5 Nan Street       Frame         1        120            78.1          99.8-02.7     85000       85000
     Building, Xuanhua
-----------------------------------------------------------------------------------------------------------------------------------
          Total                                                     520.4                                      210590      210590
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                                                  Unit: RMB
----------------------------------------------------------------------------------------------------------------------
                                              Rent/Square               Lessor's Ownership Documentation
No.  Name of Building      Detailed Address      meter     Leasing                                            Remarks
                                                           Contract   Building
                                               (RMB/year)    (X)        Title        Land Use       Others
----------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>          <C>        <C>            <C>            <C>       <C>
 4   Zhangbei Grain        5 Dong Street         177
     Bureau Service
     Building

10   Wanquan               9 Jian Guo            100
     Telecommunication     Road, Min Zhu
     Building              Street (Kong
                           Jia Zhuang)

12   Construction Bank of  Ren Min Road,         208
     China Branch of Ren   Wei County
     Min Road, Wei County

13   Post Office Branch    Nan Liu Zhuang        133
     of Nan Liu Zhuang,
     Wei County

14   Post Office Branch    Xi He Ying            214
     of Xi He Ying, Wei
     County

17   Chongli               Chongli Telecom-      238
     Telecommunication     munication
     Building              Building

18   Xuanhua Department    East 45 Pai Lou      1250
     Building

19   Xuanhua Excavation    Shuncheng             720
     Machinery Factory     Street

21   Nan Street Sales      5 Nan Street          708
     Building, Xuanhua
----------------------------------------------------------------------------------------------------------------------
          Total
----------------------------------------------------------------------------------------------------------------------
</TABLE>

Notes:  1)  This form is specifically for auxiliary buildings leased for mobile
            communications;
        2)  Please provide copies of leasing contracts for buildings in respect
            of which leasing contracts have been signed;
        3)  Please fill in the "Remarks" if necessary.


     Assessed by: Zhongzi Assets Appraisal Office     Chesterton Petty Limited
<PAGE>   14
   INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED FOR OFFICE USE
<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                          Appraisal Base date: June 30th, 2000
-----------------------------------------------------------------------------------------------------------------------------------
                                                                    Leased
No.  Name of Building      Detailed Address   Structure   Number   Floorage       Time of        Lease Term      Rent     Rent/year
                                                         of Story  (Square   Completion of the  (from _ to _)                RMB
                                                                    meters)   Building (mm/yy)
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>        <C>       <C>       <C>                <C>            <C>        <C>
 1   Zhangbei              1 Dong Street      Frame         3         20            91.1                         9450        9450
     Telecommunication
     Building

 2   Zhangbei Post         Yong Chun Nan      Frame         6         75            95.1                        15000       15000
     Office Building       Road

 6   Zhuolu Post Office    36 Xuan RMB        Frame         2        250             98                         25000       25000
     Building              Road

 7   Savings Building,     5 Nan Street,      Brick/        2         90            89.1                        33000       33000
     Huan'an Branch of     Caigoubao Town     Concrete
     Bank of China

 9   Xia Hua RMB Post      53 Shi Chang       Steel/        5       166.42          97.12                      19970.4     19970.4
     Office Building       Street             Concrete









-----------------------------------------------------------------------------------------------------------------------------------
                                                                    601.42                                     102420.4    102420.4
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                                                  Unit: RMB
----------------------------------------------------------------------------------------------------------------------
                                              Rent/Square               Lessor's Ownership Documentation
No.  Name of Building      Detailed Address      meter     Leasing                                            Remarks
                                                           Contract   Building
                                               (RMB/year)    (X)        Title        Land Use       Others
----------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>          <C>        <C>            <C>            <C>       <C>
 1   Zhangbei              1 Dong Street         473
     Telecommunication
     Building

 2   Zhangbei Post         Yong Chun Nan         200
     Office Building       Road

 6   Zhuolu Post Office    36 Xuan RMB           100
     Building              Road

 7   Savings Building,     5 Nan Street,         367
     Huan'an Branch of     Caigoubao Town
     Bank of China

 9   Xia Hua RMB Post      53 Shi Chang          120
     Office Building       Street









----------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------
</TABLE>

Notes:  1)  This form is specifically for auxiliary buildings leased for mobile
            communications;
        2)  Please provide copies of leasing contracts for buildings in respect
            of which leasing contracts have been signed;
        3)  Please fill in the "Remarks" if necessary.
<PAGE>   15
  INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED FOR BASE STATIONS

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                          Appraisal Base date: June 30th, 2000
-----------------------------------------------------------------------------------------------------------------------------------
                                                                    Leased
No.  Name of Building      Detailed Address   Structure   Number   Floorage       Time of        Lease Term      Rent     Rent/year
                                                         of Story  (Square   Completion of the  (from _ to _)                RMB
                                                                    meters)   Building (mm/yy)
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>        <C>       <C>       <C>                <C>              <C>      <C>
 1   Ling RMB Road Base    Post Office        Steel/        3         15             94                          4780       4780
     Station               Dormitory, Ling    Concrete
                           RMB Road

###  Pingmen Base Station  Pingmen Warehouse  Brick/        1         16             93                          4780       4780
                                              Concrete

###  Nanzhan Base Station  Nanzhan Fen Zhuan  Steel/        2         10             97                          4780       4780
                                              Concrete

###  Base Station of 406   We Yi Road Post    Steel/        2         10             84                          4780       4780
     Bureau                Office             Concrete

###  Hong Qi Road Base     Shen Li Road       Steel/                  25             98                          4780       4780
     Station               Transmission       Concrete
                           Bureau

###  Jian Kan RMB Base     Qing Shui Qiao     Steel/                  15             98                          5000       5000
     Station               Xi Street          Concrete

###  Dian Jiao Guan Base   Xi Huo Zi          Steel/                  15             98                          6000       6000
     Station               Street             Concrete

###  Liang Mao Base        Liang Mao Hotel,   Steel/        4         15             98                          5000       5000
     Station               Dong Shan Road     Concrete

###  Gao Miao Base         Construction Bank  Steel/                  15             98                          5000       5000
     Station               of China Gong Ye   Concrete
                           Nan Road Branch

                           Industrial and
###  Qiao Xi Gong Hang     Commercial Bank    Steel/                  15             98                          6000       6000
     Base Station          of China Xin Hua   Concrete
                           Branch

###  Ning RMB Base         Ning RMB Bao       Steel/                  12             98                          4780       4780
     Station               Steel Factory      Concrete

###  Yong Feng Bao         Yong Feng Bao      Brick/        1          6             98                          3000       3000
     Base Station          Village Committee  Concrete

###  Jian Gong Xue RMB     Architectural                               8                                         4000       4000
     Base Station          Engineering
                           Institution

###  Ba Si Chang           Wire Drawing                               15                                         4500       4500
     Base Station          Factory
</TABLE>

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                                                  Unit: RMB
----------------------------------------------------------------------------------------------------------------------
                                              Rent/Square               Lessor's Ownership Documentation
No.  Name of Building      Detailed Address      meter     Leasing                                            Remarks
                                                           Contract   Building
                                               (RMB/year)    (X)        Title        Land Use       Others
----------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>          <C>        <C>            <C>            <C>       <C>
 1   Ling RMB Road Base    Post Office           319
     Station               Dormitory, Ling
                           RMB Road

###  Pingmen Base Station  Pingmen Warehouse     299


###  Nanzhan Base Station  Nanzhan Fen Zhuan     478


###  Base Station of 406   We Yi Road Post       478
     Bureau                Office

###  Hong Qi Road Base     Shen Li Road          191
     Station               Transmission
                           Bureau

###  Jian Kan RMB Base     Qing Shui Qiao        333
     Station               Xi Street

###  Dian Jiao Guan Base   Xi Huo Zi             400
     Station               Street

###  Liang Mao Base        Liang Mao Hotel,      333
     Station               Dong Shan Road

###  Gao Miao Base         Construction Bank     333
     Station               of China Gong Ye
                           Nan Road Branch

                           Industrial and
###  Qiao Xi Gong Hang     Commercial Bank       400
     Base Station          of China Xin Hua
                           Branch

###  NingRMB Base          Ning RMB Bao          398
     Station               Steel Factory

###  Yong Feng Bao         Yong Feng Bao         500
     Base Station          Village Committee

###  Jian Gong Xue RMB     Architectural         500
     Base Station          Engineering
                           Institution

###  Ba Si Chang           Wire Drawing          300
     Base Station          Factory
</TABLE>
<PAGE>   16
<TABLE>
<S>  <C>                   <C>                <C>           <C>       <C>         <C>         <C>                <C>         <C>
###  Lao Gan Bu Ju         Bureau of Retired                          15                                         2500        2500
     Base Station          Officer Affairs

###  Gong Dian Gong        Control Room of                            15                                         6000        6000
     Si Base Station       the Power Supply
                           Company

###  Wu Xian Dian Yi       No.1 Radio                                 15                                         4000        4000
     Chang Base Station    Factory

###  Gong An Ju Base       Confidential                               15                                         6000        6000
     Station               Communication
                           Office of the
                           Public Security
                           Bureau

###  Yin Shua Chang Base   Pring Factory                              15                                         4500        4500
     Station

###  Wu Mao Zhong Xin      Center Building                            15                                         6000        6000
     Lou Building          of Commodity
                           Trade

###  Shang Yi Da Qing      Da Qing Gou,       Steel/        2         10          June-00                        1620        1620
     Gou Base Station      Shang Yi County    Concrete

###  Huai Lai Yu Lin       Inside the                       1         15                                          500         500
     Tun Base Station      Transfer Post of
     (planned)             Yu Lin Tun
                           Village, Sha
                           Cheng Town

###  Huai Lai Hua Dian     Huai Lai Hua Dian                           8                                         5000        5000
     Di Re Base Station    Geothermal
     (planned)             Training Center
</TABLE>
<TABLE>
<S>  <C>                   <C>                    <C>       <C>       <C>         <C>         <C>                 <C>
###  Lao Gan Bu Ju         Bureau of Retired      167
     Base Station          Officer Affairs

###  Gong Dian Gong        Control Room of        400
     Si Base Station       the Power Supply
                           Company

###  Wu Xian Dian Yi       No.1 Radio             267
     Chang Base Station    Factory

###  Gong An Ju Base       Confidential           400
     Station               Communication
                           Office of the
                           Public Security
                           Bureau

###  Yin Shua Chang Base   Pring Factory          300
     Station

###  Wu Mao Zhong Xin      Center Building        400
     Lou Building          of Commodity
                           Trade

###  Shang Yi Da Qing      Da Qing Gou,           162
     Gou Base Station      Shang Yi County

###  Huai Lai Yu Lin       Inside the              33
     Tun Base Station      Transfer Post of
     (planned)             Yu Lin Tun
                           Village, Sha
                           Cheng Town

###  Huai Lai Hua Dian     Huai Lai Hua Dian      625
     Di Re Base Station    Geothermal
     (planned)             Training Center
</TABLE>
     Assessed by: Zhongzi Assets Appraisal Office     Chesterton Petty Limited
<PAGE>   17
  INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED FOR BASE STATIONS
<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                          Appraisal Base date: June 30th, 2000
-----------------------------------------------------------------------------------------------------------------------------------
                                                                    Leased
No.  Name of Building      Detailed Address   Structure   Number   Floorage       Time of        Lease Term      Rent     Rent/year
                                                         of Story  (Square   Completion of the  (from _ to _)                RMB
                                                                    meters)   Building (mm/yy)
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>        <C>       <C>       <C>                <C>            <C>        <C>
###  Huai Lai Wang Jia     Inside the                                 15                                         6000        6000
     Lou Base Station      Village
     (planned)             Government
                           Courtyard of
                           Wang Jia Lou

###  Wan Quan Guo Lei      Post Office of       Brick/      2          4             84.6                        3000        3000
     Zhuang Base Station   Guo Lei Zhuang      Concrete

###  Wan Quan Wan Quan     Wan Quan Cheng       Brick/      2          4             74.9                        3000        3000
     Cheng Base Station    Post Office         Concrete

###  Huai An Post Office   Huai An Cheng        Brick/      2         15            84.10                        1531        1531
     Building              Dong Street         Concrete

###  Wei County Post       Qian Jin Road,       Steel/      2          5                                         2000        2000
     Office                Wei County          Concrete

###  Wei County Water      Huan Cheng Bei       Steel/      2         30                                         1000        1000
     Affairs Bureau        Road, Wei County    Concrete

###  Wei County Ji Wei     Cui Jia Zhai,        Steel/      2         30                                         8000        8000
     Coalfield             Yong Quan Zhuang,   Concrete
                           Wei County

###  Dong Jing Ji Base     Dong Guan, Dong    Brick/Wood    1          4             91.8                        2000        2000
     Station, Yang RMB     Jing Ji

###  Dong Cheng Base       Dong Road, Dong    Brick/Wood    1          4             91.8                        2000        2000
     Station, Yang RMB     Cheng

###  Hua Shao Ying Base    Hua Shao Ying      Brick/Wood    1          4             91.8                        2000        2000
     Station, Yang RMB     Dong Road

###  Chongli               Chang Qing Road      Brick/      5         21            95.12                        3000        3000
     Telecommunication                         Concrete
     Building

###  Chongli Dong Ping     Dong Ping Post     Brick/Wood    1         10            96.12                         480         480
     Base Station          Post Office

###  Chongli Gao Jia       Gao Jia Ying         Brick/      2         10            94.12                         480         480
     Ying Base Station     Post Office         Concrete

###  Xuanhua Da Xi         Xuan Hua Da Xi       Brick/      2         42            97.10                        6048        6048
     Street Base Station   Street              Concrete

###  Xuanhua Tong RMB      Outside Xuanhuan     Brick/      6        14.5            99.7                        2000        2000
     Base Station          North Gate          Concrete

###  Xuan Gang Base        Xuanhua Steel                              24                                         4000        4000
     Station               Factory

###  Xia Hua RMB Coal      Xia Hua RMB          Steel/      3         20             95.5                        2400        2400
     Mine Micro-celluar    Coal Mine           Concrete
     Base Station
-----------------------------------------------------------------------------------------------------------------------------------
     Total                                                          571.5                                      152239      152239
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                                                  Unit: RMB
----------------------------------------------------------------------------------------------------------------------
                                              Rent/Square               Lessor's Ownership Documentation
No.  Name of Building      Detailed Address      meter     Leasing                                            Remarks
                                                           Contract   Building
                                               (RMB/year)    (X)        Title        Land Use       Others
----------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>          <C>        <C>            <C>            <C>       <C>
###  Huai Lai Wang Jia     Inside the             400
     Lou Base Station      Village
     (planned)             Government
                           Courtyard of
                           Wang Jia Lou

###  Wan Quan Guo Lei      Post Office of         750
     Zhuang Base Station   Guo Lei Zhuang

###  Wan Quan Wan Quan     Wan Quan Cheng         750
     Cheng Base Station    Post Office

###  Huai An Post Office   Huai An Cheng          102
     Building              Dong Street

###  Wei County Post       Qian Jin Road,         400
     Office                Wei County

###  Wei County Water      Huan Cheng Bei          33
     Affairs Bureau        Road, Wei County

###  Wei County Ji Wei     Cui Jia Zhai,          267
     Coalfield             Yong Quan Zhuang,
                           Wei County

###  Dong Jing Ji Base     Dong Guan, Dong        500
     Station, Yang RMB     Jing Ji

###  Dong Cheng Base       Dong Road, Dong        500
     Station, Yang RMB     Cheng

###  Hua Shao Ying Base    Hua Shao Ying          500
     Station, Yang RMB     Dong Road

###  Chongli               Chang Qing Road        143
     Telecommunication
     Building

###  Chongli Dong Ping     Dong Ping Post          48
     Base Station          Post Office

###  Chongli Gao Jia       Gao Jia Ying            48
     Ying Base Station     Post Office

###  Xuanhua Da Xi         Xuan Hua Da Xi         144
     Street Base Station   Street

###  Xuanhua Tong RMB      Outside Xuanhuan       138
     Base Station          North Gate

###  Xuan Gang Base        Xuanhua Steel          167
     Station               Factory

###  Xia Hua RMB Coal      Xia Hua RMB            120
     Mine Micro-celluar    Coal Mine
     Base Station
----------------------------------------------------------------------------------------------------------------------
     Total
----------------------------------------------------------------------------------------------------------------------
</TABLE>
Notes:  1)  This form is specifically for auxiliary buildings leased for mobile
            communications;
        2)  Please provide copies of leasing contracts for buildings in respect
            of which leasing contracts have been signed;
        3)  Please fill in the "Remarks" if necessary.
<PAGE>   18
           INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED
                              FOR BUSINESS PURPOSES

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                          Appraisal Base date: June 30th, 2000
-----------------------------------------------------------------------------------------------------------------------------------
                                                                    Leased
No.  Name of Building      Detailed Address   Structure   Number   Floorage       Time of        Lease Term      Rent     Rent/year
                                                         of Story  (Square   Completion of the  (from _ to _)                RMB
                                                                    meters)   Building (mm/yy)
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>        <C>       <C>       <C>                <C>            <C>        <C>
1    Communication Bank    78 Dong Jing Road   Brick/       1        134.5        1968.7                        30000       30000
     of China Beidaihe                          Wood
     Branch Sales
     Building

2    Lulong Tele-          Level 1 63 Xin      Frame        5         20          1988.7                         8000        8000
     communication         Cheng Street,
     Multipurpose          Cheng Guan Town
     Building








                                                                     154.5                                      38000       38000
</TABLE>

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                                                  Unit: RMB
----------------------------------------------------------------------------------------------------------------------
                                              Rent/Square               Lessor's Ownership Documentation
No.  Name of Building      Detailed Address      meter     Leasing                                            Remarks
                                                           Contract   Building
                                               (RMB/year)    (X)        Title        Land Use       Others
----------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>          <C>        <C>            <C>            <C>       <C>
1    Communication Bank    78 Dong Jing Road      223                     No            No
     of China Beidaihe
     Branch Sales
     Building

2    Lulong Tele-          Level 1 63 Xin         400
     communication         Cheng Street,
     Multipurpose          Cheng Guan Town
     Building









</TABLE>

     Name of the person filling this form on behalf of the property owner:
     Liu Shan

     Filling Date: July 5, 2000
     Notes:  1)  This form is specifically for auxiliary buildings leased for
                 mobile communications;
             2)  Please provide copies of leasing contracts for buildings in
                 respect of which leasing contracts have been signed;
             3)  Please fill in the "Remarks" if necessary.

     Assessed by: Zhongzi Assets Appraisal Office     Chesterton Petty Limited
<PAGE>   19
    INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED FOR OFFICE USE


<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                          Appraisal Base date: June 30th, 2000
-----------------------------------------------------------------------------------------------------------------------------------
                                                                    Leased
No.  Name of Building      Detailed Address   Structure   Number   Floorage       Time of        Lease Term      Rent     Rent/year
                                                         of Story  (Square   Completion of the  (from _ to _)                RMB
                                                                    meters)   Building (mm/yy)
-----------------------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>        <C>       <C>       <C>                <C>             <C>       <C>
1    Industrial and        Level 2 and Level    Mixed       4       917.78                                      500000      500000
     Commercial Bank of    4 of the Finance
     China, Development    Building,
     Area Branch           Development Area

2    Construction Bank of  Level 4 of the       Mixed       4         110                                        35000       35000
     China Development     Finance Building,
     Area Branch, Yushu    Development Area
     Grain Transfer Post

3    Communication Bank    78 Dong Jing Road    Brick/      1        18.8          1968.7                        30000       30000
     of China Beidaihe                           Wood
     Branch Sales
     Building                                                                                                                     










----------------------------------------------------------------------------------------------------------------------------------
                                                                   1046.58                                      565000      565000
-----------------------------------------------------------------------------------------------------------------------------------

</TABLE>

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication
Company Zhangjiakou Branch                                                                                  Unit: RMB
----------------------------------------------------------------------------------------------------------------------
                                              Rent/Square               Lessor's Ownership Documentation
No.  Name of Building      Detailed Address      meter     Leasing                                            Remarks
                                                           Contract   Building
                                               (RMB/year)    (X)        Title        Land Use       Others
----------------------------------------------------------------------------------------------------------------------
<S>  <C>                   <C>                <C>          <C>        <C>            <C>            <C>       <C>
1    Industrial and        Level 2 and Level      545
     Commercial Bank of    4 of the Finance
     China, Development    Building,
     Area Branch           Development Area

2    Construction Bank of  Level 4 of the         318
     China Development     Finance Building,
     Area Branch, Yushu    Development Area
     Grain Transfer Post

3    Communication Bank    78 Dong Jing Road      1596                                                           For
     of China Beidaihe                                                                                         offices
     Branch Sales                                                                                                and
     Building                                                                                                   sales










----------------------------------------------------------------------------------------------------------------------

----------------------------------------------------------------------------------------------------------------------
</TABLE>

     Name of the person filling this form on behalf of the property owner:
     Liu Shan
     Filling Date: July 5, 2000
     Notes:  1) This form is specifically for auxiliary buildings leased for
                mobile communications;
             2) Please provide copies of leasing contracts for buildings in
                respect of which leasing contracts have been signed;
             3) Please fill in the "Remarks" if necessary.

     Assessed by: Zhongzi Assets Appraisal Office     Chesterton Petty Limited
<PAGE>   20
  INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED FOR BASE STATIONS

<TABLE>
<CAPTION>

Name of the Property Owner: Hebei Mobile Communication Company              Appraisal Base date: June 30th, 2000
Qinghuangdao Branch
------------------------------------------------------------------------------------------------------------------------
No.      Name of Building       Detailed Address          Struct-  Number  Leased     Time of    Lease     Rent   Rent/
                                                           ure      of     Floorage  Completion   Term             year
                                                                   Story   (Square   of the      (from _            RMB
                                                                           meters)   Building     to_)
                                     (mm/yy)                                         (mm/yy)
-------- ---------------------- ------------------------- -------- ------  -------   ---------  --------  ------  -----
<S>      <C>                    <C>                       <C>      <C>     <C>       <C>        <C>       <C>     <C>
1        Hui Long Building      Cross of He Bei Street                10      20                           15000   15000
                                and Hai Yang Road
------------------------------------------------------------------------------------------------------------------------
2        Zhong Qing Company     East Heng Lu,  Qing                    4       9                           10000   10000
                                Shan Road
------------------------------------------------------------------------------------------------------------------------
3        Lu Ye Hotel            Heng Lu, Qing Shan Road                4      15                            6000    6000
------------------------------------------------------------------------------------------------------------------------
4        Jian Guo Road Post     Jian Guo Road and Yan                  1      14                            2000    2000
         Office                 Shan Street Entrance
------------------------------------------------------------------------------------------------------------------------
5        Bank of China          157 Ying Bin Road,                    10      11                           10000   10000
                                Qinghuangdao City
------------------------------------------------------------------------------------------------------------------------
6        Qing Xing Jian Li      198 Gang Cheng Street                  5      14                           10000   10000
------------------------------------------------------------------------------------------------------------------------
7        City Grassworks        West side of Hai Yang                  5      19                           10000   10000
                                Road
------------------------------------------------------------------------------------------------------------------------
8        Xin Tong Hotel         100 meters east to the                 6       2                            3000    3000
                                Train Station
------------------------------------------------------------------------------------------------------------------------
9        Zhong Gang Tower       80 Ying Bin Road                      10       7                           10000   10000
------------------------------------------------------------------------------------------------------------------------
10       Yan Bin Hotel          16 Ying Bin Road                       7      12                           10000   10000
------------------------------------------------------------------------------------------------------------------------
11       Xi Xiang He Zhai       Village Committee of Xi                1      13                           10000   10000
                                Xiang He Zhai
------------------------------------------------------------------------------------------------------------------------
18       Jin Hui Hotel          Gang Cheng Street         Frame        5       1                            2000    2000
------------------------------------------------------------------------------------------------------------------------
19       Development Tower of   Inside the Development                10      10                           10000   10000
         the Development Area   Tower, Development Area
------------------------------------------------------------------------------------------------------------------------
20       City Cotton Mill       West part of He Ping                   3      12                           10000   10000
                                Street, Haigang District
------------------------------------------------------------------------------------------------------------------------
21       Meng Ying              Meng Ying Village, Xi
                                Gang Town, Haigang                     3      12                           10000   10000
                                District
------------------------------------------------------------------------------------------------------------------------
22       Yan Shan University    West 438 He Bei Street                 7      13                            5000    5000
------------------------------------------------------------------------------------------------------------------------
23       Coal School of         West part of He Bei                   10       7                           10000   10000
         Qinghuangdao           Street
------------------------------------------------------------------------------------------------------------------------
24       Bei Chen Holiday       North of the Sports                   14       8                           20000   20000
         Village                Field of the Sports Base
------------------------------------------------------------------------------------------------------------------------
25       Foreign Trade Hotel    36 You Yi Road                         8      21                            4000    4000
------------------------------------------------------------------------------------------------------------------------
26       Xia Du Hotel           48 Hong Qi Road                        8       5                           10000   10000
------------------------------------------------------------------------------------------------------------------------
27       Zhong Mei Storehouse   Bei Jiao Storehouse                    4      10                           10000   10000
------------------------------------------------------------------------------------------------------------------------
28       Port Office            South part of Wen Hua                 24      12                           10000   10000
                                Road
------------------------------------------------------------------------------------------------------------------------
29       Hai Hou Guest House    195 Dong Shan                          4      10                           10000   10000
------------------------------------------------------------------------------------------------------------------------
30       Environment and        17 Middle part of He                   3       7                           10000   10000
         Sanitation Bureau      Bei Street
------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

Name of the Property Owner: Hebei Mobile Communication Company                                                  Unit RMB
Qinghuangdao Branch
--------------------------------------------------------------------------------------------------------------------------
No.      Name of Building       Detailed Address            Rent/Square   Leasing      Lessor's Ownership          Remarks
                                                              meter        Contract      Documentation
                                                            -----------      (x)    ----------------------------
                                                            (RMB/year)                Building  Land     Others
                                                                                       Title    Use
-------- ---------------------- -------------------------  ------------   -------   --------- ---------  -------  -------
<S>      <C>                    <C>                        <C>            <C>       <C>       <C>        <C>      <C>
1        Hui Long Building      Cross of He Bei Street               750
                                and Hai Yang Road
--------------------------------------------------------------------------------------------------------------------------
2        Zhong Qing Company     East Heng Lu,  Qing                 1111
                                Shan Road
------------------------------------------------------------------------------------------------------------------------
3        Lu Ye Hotel            Heng Lu, Qing Shan Road              400
------------------------------------------------------------------------------------------------------------------------
4        Jian Guo Road Post     Jian Guo Road and Yan                143
         Office                 Shan Street Entrance
------------------------------------------------------------------------------------------------------------------------
5        Bank of China          157 Ying Bin Road,                   909
                                Qinghuangdao City
------------------------------------------------------------------------------------------------------------------------
6        Qing Xing Jian Li      198 Gang Cheng Street                714
------------------------------------------------------------------------------------------------------------------------
7        City Grassworks        West side of Hai Yang                526
                                Road
------------------------------------------------------------------------------------------------------------------------
8        Xin Tong Hotel         100 meters east to the              1500
                                Train Station
------------------------------------------------------------------------------------------------------------------------
9        Zhong Gang Tower       80 Ying Bin Road                    1429
------------------------------------------------------------------------------------------------------------------------
10       Yan Bin Hotel          16 Ying Bin Road                     833
------------------------------------------------------------------------------------------------------------------------
11       Xi Xiang He Zhai       Village Committee of Xi              769
                                Xiang He Zhai
------------------------------------------------------------------------------------------------------------------------
18       Jin Hui Hotel          Gang Cheng Street                   2000
------------------------------------------------------------------------------------------------------------------------
19       Development Tower of   Inside the Development              1000
         the Development Area   Tower, Development Area
------------------------------------------------------------------------------------------------------------------------
20       City Cotton Mill       West part of He Ping                 833
                                Street, Haigang District
------------------------------------------------------------------------------------------------------------------------
21       Meng Ying              Meng Ying Village, Xi
                                Gang Town, Haigang                   833
                                District
------------------------------------------------------------------------------------------------------------------------
22       Yan Shan University    West 438 He Bei Street               385
------------------------------------------------------------------------------------------------------------------------
23       Coal School of         West part of He Bei                 1429
         Qinghuangdao           Street
------------------------------------------------------------------------------------------------------------------------
24       Bei Chen Holiday       North of the Sports                 2500
         Village                Field of the Sports Base
------------------------------------------------------------------------------------------------------------------------
25       Foreign Trade Hotel    36 You Yi Road                       190
------------------------------------------------------------------------------------------------------------------------
26       Xia Du Hotel           48 Hong Qi Road                     2000
------------------------------------------------------------------------------------------------------------------------
27       Zhong Mei Storehouse   Bei Jiao Storehouse                 1000
------------------------------------------------------------------------------------------------------------------------
28       Port Office            South part of Wen Hua                833
                                Road
------------------------------------------------------------------------------------------------------------------------
29       Hai Hou Guest House    195 Dong Shan                       1000
------------------------------------------------------------------------------------------------------------------------
30       Environment and        17 Middle part of He                1429
         Sanitation Bureau      Bei Street
------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>   21
<TABLE>
<S>      <C>                    <C>                       <C>        <C>     <C>  <C>        <C>           <C>     <C>
31       Dong Gang Industrial
         and Commercial         West part of Yan Hai                   4      12                            4000    4000
         Company                Road
------------------------------------------------------------------------------------------------------------------------
32       Biao Zhun Press        North part of Wen Hua                  7       9                            5000    5000
                                Road
------------------------------------------------------------------------------------------------------------------------
33       Bank of China Wen      307 Wen Hua Road                       2       2                            3000    3000
         Hua Road Branch
------------------------------------------------------------------------------------------------------------------------
34       International          Wen Hua Bei Road                      12       8                           10000   10000
         Restaurant
------------------------------------------------------------------------------------------------------------------------
35       Tong Sheng Fast Food   East part of Qing Shan                 5      10                            6352    6352
                                Highway
------------------------------------------------------------------------------------------------------------------------
36       Dong Shan Bian Fang    Dong Shan Frontier                     3      12                            5000    5000
                                Defence, Qinghuangdao
------------------------------------------------------------------------------------------------------------------------
39       Dao Nan Suo            Er Zhong Post Office      Brick/       4    8.84  July 1989                1060.8  1060.8
                                Living House              Concrete
------------------------------------------------------------------------------------------------------------------------
41       Ren Min Hospital       46 Zhai Street            Brick/       4      16  June 1973                 2000    2000
                                                          Concrete
------------------------------------------------------------------------------------------------------------------------
42       Wu Li Tai              Shi He Town Government    Brick/       4      15  June 1988                 6000    6000
                                                          Concrete
------------------------------------------------------------------------------------------------------------------------
43       No.6 Middle School     No.6 Middle School of     Frame        5      10   May 1998                 3000    3000
                                Shanhaiguan
------------------------------------------------------------------------------------------------------------------------
44       Jiang Nu Temple        Wang Fu Shi Village       Brick/       2      10  March 1979                1500    1500
                                Committee                 Concrete
------------------------------------------------------------------------------------------------------------------------
45       Chang Shou Mountain    Management Office of                          10                            4000    4000
                                Chang Shou Mountain                           
                                Scenic Spots
------------------------------------------------------------------------------------------------------------------------
46       Bei Ying Zi            Chang Cheng               Brick/       2      16   May 1997                 4000    4000
                                Construction and          Concrete
                                Installment Company
------------------------------------------------------------------------------------------------------------------------
47       Yan Sai Hu             Management Office of                          10                            4000    4000
                                Yan Sai Hu Scenic Spots
------------------------------------------------------------------------------------------------------------------------
49       Beidaihe Post Office   Ying Jiao Road, Beidaihe  Brick/       1      42  August                    3000    3000
         Dong Shan Branch                                 Concrete                   1988
------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<S>      <C>                    <C>                         <C>      <C>       <C>       <C>        <C>      <C>
31       Dong Gang Industrial
         and Commercial         West part of Yan Hai                 333
         Company                Road
------------------------------------------------------------------------------------------------------------------------
32       Biao Zhun Press        North part of Wen Hua                556
                                Road
------------------------------------------------------------------------------------------------------------------------
33       Bank of China Wen      307 Wen Hua Road                    1500
         Hua Road Branch
------------------------------------------------------------------------------------------------------------------------
34       International          Wen Hua Bei Road                    1250
         Restaurant
------------------------------------------------------------------------------------------------------------------------
35       Tong Sheng Fast Food   East part of Qing Shan               635
                                Highway
------------------------------------------------------------------------------------------------------------------------
36       Dong Shan Bian Fang    Dong Shan Frontier                   417
                                Defence, Qinghuangdao
------------------------------------------------------------------------------------------------------------------------
39       Dao Nan Suo            Er Zhong Post Office                 120
                                Living House
------------------------------------------------------------------------------------------------------------------------
41       Ren Min Hospital       46 Zhai Street                       125
------------------------------------------------------------------------------------------------------------------------
42       Wu Li Tai              Shi He Town Government               400                                     1-104
------------------------------------------------------------------------------------------------------------------------
43       No.6 Middle School     No.6 Middle School of                300                                     1-1-135
                                Shanhaiguan
------------------------------------------------------------------------------------------------------------------------
44       Jiang Nu Temple        Wang Fu Shi Village                  150                                     3-5-6
                                Committee
------------------------------------------------------------------------------------------------------------------------
45       Chang Shou Mountain    Management Office of                 400                                     1-009
                                Chang Shou Mountain 
                                Scenic Spots
------------------------------------------------------------------------------------------------------------------------
46       Bei Ying Zi            Chang Cheng                                                                  2-2-19
                                Construction and                     250
                                Installment Company
------------------------------------------------------------------------------------------------------------------------
47       Yan Sai Hu             Management Office of                 400                                     1-1-146
                                Yan Sai Hu Scenic Spots
------------------------------------------------------------------------------------------------------------------------
49       Beidaihe Post Office   Ying Jiao Road, Beidaihe              71
         Dong Shan Branch
------------------------------------------------------------------------------------------------------------------------
</TABLE>

Assessed by: Zhongzi Assets Appraisal Office     Chesterton Petty Limited
<PAGE>   22
  INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED FOR BASE STATIONS
<TABLE>
<CAPTION>

Name of the Property Owner: Hebei Mobile Communication Company              Appraisal Base date: June 30th, 2000
Qinghuangdao Branch
----------------------------------------------------------------------------------------------------------------------------------
No.      Name of Building       Detailed Address          Struct-         Number     Leased    Time of    Lease Term    Rent   Rent/
                                                           ure              of       Floorage  Completion  -Year               year
                                                                          Story      (Square   of the     -Month-Year-          RMB
                                                                                     meters)   Building     Month
                                                                                              (mm/yy)
----- ----------------------   -----------------------   --------         --------   -------  ---------  --------     ------  -----
<S>   <C>                      <C>                       <C>              <C>        <C>       <C>        <C>         <C>     <C>
50    Beidaihe Development      North part of Hai Ning   Brick/Concrete      4           9     1993                    1750     1750
      Area Office Building      Road, Beidaihe
------------------------------------------------------------------------------------------------------------------------------------
51    Beidaihe Foresty Center   Bin Hai Avanue,          Brick/Concrete   Bird-           9     1994                   3000     3000
      Office Building           Qinghuangdao                              watching                                                  
                                                                          Tower
------------------------------------------------------------------------------------------------------------------------------------
52    Bei Building 16           Dong Er Road, Beidaihe   Brick/Concrete      3           5     1990                    4760     4760
      Courtyard 20, Beidaihe    
      of the State Council
------------------------------------------------------------------------------------------------------------------------------------
53    Zhong Nan Hai             Zhong Zhi, Beidaihe      Brick/Concrete      3          25     1954                    3000     3000
      Telecommunication         
      Bureau Beidaihe Branch
------------------------------------------------------------------------------------------------------------------------------------
56    Lulong Post Office        Yong Ping Street,            Frame           2           9    Nov-99                   5000     5000
      Multi-purpose Building    Cheng Guan Town
------------------------------------------------------------------------------------------------------------------------------------
58    Bu Jing Branch            Mu Jing Village Post     Brick/Concrete      2           6     1988                  315.38   315.38
      Multi-purpose Building    Office
------------------------------------------------------------------------------------------------------------------------------------
62    Ye He Equipment Building  Ye He Town Post Office   Brick/Concrete      2           6     1987                  315.38   315.38
------------------------------------------------------------------------------------------------------------------------------------
76    Shen He Village           Xi Chang Village, Shen   Steel/Concrete    Flat        6.5    Oct-97                   3000     3000
      Government                He
------------------------------------------------------------------------------------------------------------------------------------
77    Nandaihe No.2 Area Post   Nandaihe No.2 Area       Steel/Concrete      8          42    Oct-97                   3000     3000
      Office
------------------------------------------------------------------------------------------------------------------------------------
78    Zhu Cao Ying Post Office  Zhu Cao Ying Town        Steel/Concrete    Flat        5.4    Sep-95                   3000     3000
------------------------------------------------------------------------------------------------------------------------------------
79    Yu Guan Post Office       Yu Guan Town             Steel/Concrete      3         9.6    Oct-97                   3000     3000
------------------------------------------------------------------------------------------------------------------------------------
80    Tai Ying Post Office      Tai Ying Town            Steel/Concrete    Flat       5.67    Aug-95                   3000     3000
------------------------------------------------------------------------------------------------------------------------------------
81    Cao Dong Zhuang Post      Cao Dong Zhuang Village  Steel/Concrete      2           8    Oct-97                   3000     3000
      Office
------------------------------------------------------------------------------------------------------------------------------------
91    Meterological Bureau Base 374 Bei Ma Road, San     Brick/Concrete      1          18    Aug-88                  23000    23000
      Station                   Street
------------------------------------------------------------------------------------------------------------------------------------
92    An Shan Branch            Center of An Shan Town   Steel/Concrete      2          35    Dec-94                   3000     3000
------------------------------------------------------------------------------------------------------------------------------------
93    Qing An Branch            Center of Jing An Town   Brick/Concrete      1          15    Dec-89                   3000     3000
------------------------------------------------------------------------------------------------------------------------------------
94    Xin Ji Branch             Xin Ji Town              Brick/Concrete      3          42    Dec-98                   3000     3000
------------------------------------------------------------------------------------------------------------------------------------
96    Hai An (2) Branch         West of Yi Jing Road,    Brick/Concrete      1        40.8    Aug-89                   3000     3000
                                Hai An
------------------------------------------------------------------------------------------------------------------------------------
97    Qing Long Mobile Company  Middle of Fu Wu          Brick/Concrete      3         252    Sep-99                  30000    30000
                                Street, Qing Long
------------------------------------------------------------------------------------------------------------------------------------
99    Ba Dao He Branch          Ba Dao He Village, Ba    Brick/Concrete                 16    Oct-96                   3000     3000
                                Dao He Town
------------------------------------------------------------------------------------------------------------------------------------
00    Da Wu Lan Branch          Da Wu Lan Village, Da    Brick/Concrete                 12    Oct-97                   3000     3000
                                Wu Lan Town
------------------------------------------------------------------------------------------------------------------------------------
02    Shuang Shan Zi Branch     Shuang Shan Zi Town      Brick/Concrete                 16    Oct-97                   3000     3000
------------------------------------------------------------------------------------------------------------------------------------
                                                                                   1047.81                         389053.6 389053.6
------------------------------------------------------------------------------------------------------------------------------------
</TABLE>
<TABLE>
<CAPTION>

Name of the Property Owner: Hebei Mobile Communication Company                                                Unit RMB
Qinghuangdao Branch
----------------------------------------------------------------------------------------------------------------------
No.      Name of Building       Detailed Address        Rent/Square   Leasing      Lessor's Ownership          Remarks
                                                         meter        Contract      Documentation
                                                       -----------      (x)      --------------------------
                                                        (RMB/year)               Building   Land      Others
                                                                                 Title      Use
----- ----------------------   ----------------------- -----------  -------   --------- ---------  -------      -------
<S>   <C>                      <C>                     <C>           <C>       <C>       <C>        <C>         <C>
50    Beidaihe Development      North part of Hai Ning     194                                                  Has paid for
      Area Office Building      Road, Beidaihe                                                                  1997-2017
----------------------------------------------------------------------------------------------------------------------------
51    Beidaihe Foresty Center   Bin Hai Avanue,            333                                                  Has paid for
      Office Building           Qinghuangdao                                                                    1998-2008
----------------------------------------------------------------------------------------------------------------------------
52    Bei Building 16           Dong Er Road, Beidaihe     952
      Courtyard 20, Beidaihe    
      of the State Council
----------------------------------------------------------------------------------------------------------------------------
53    Zhong Nan Hai             Zhong Zhi, Beidaihe        120 
      Telecommunication         
      Bureau Beidaihe Branch
----------------------------------------------------------------------------------------------------------------------------
56    Lulong Post Office        Yong Ping Street,          556
      Multi-purpose Building    Cheng Guan Town
----------------------------------------------------------------------------------------------------------------------------
58    Bu Jing Branch            Mu Jing Village Post        53
      Multi-purpose Building    Office
----------------------------------------------------------------------------------------------------------------------------
62    Ye He Equipment Building  Ye He Town Post Office      53
----------------------------------------------------------------------------------------------------------------------------
76    Shen He Village           Xi Chang Village, Shen     462
      Government                He
----------------------------------------------------------------------------------------------------------------------------
77    Nandaihe No.2 Area Post   Nandaihe No.2 Area          71
      Office
----------------------------------------------------------------------------------------------------------------------------
78    Zhu Cao Ying Post Office  Zhu Cao Ying Town          556
----------------------------------------------------------------------------------------------------------------------------
79    Yu Guan Post Office       Yu Guan Town               313
----------------------------------------------------------------------------------------------------------------------------
80    Tai Ying Post Office      Tai Ying Town              529
----------------------------------------------------------------------------------------------------------------------------
81    Cao Dong Zhuang Post      Cao Dong Zhuang Village    375
      Office
----------------------------------------------------------------------------------------------------------------------------
91    Meterological Bureau Base 374 Bei Ma Road, San      1278                                                  Iron Tower
      Station                   Street                                                                          included
----------------------------------------------------------------------------------------------------------------------------
92    An Shan Branch            Center of An Shan Town      86
----------------------------------------------------------------------------------------------------------------------------
93    Qing An Branch            Center of Jing An Town     200
----------------------------------------------------------------------------------------------------------------------------
94    Xin Ji Branch             Xin Ji Town                 71
----------------------------------------------------------------------------------------------------------------------------
96    Hai An (2) Branch         West of Yi Jing Road,       74
                                Hai An
----------------------------------------------------------------------------------------------------------------------------
97    Qing Long Mobile Company  Middle of Fu Wu            119                                                  The Land Use is
                                Street, Qing Long                                                               processing.
----------------------------------------------------------------------------------------------------------------------------
99    Ba Dao He Branch          Ba Dao He Village, Ba      188
                                Dao He Town
----------------------------------------------------------------------------------------------------------------------------
00    Da Wu Lan Branch          Da Wu Lan Village, Da      250
                                Wu Lan Town
----------------------------------------------------------------------------------------------------------------------------
02    Shuang Shan Zi Branch     Shuang Shan Zi Town        188                                                  The Land Use is
                                                                                                                processing.
----------------------------------------------------------------------------------------------------------------------------
</TABLE>
Name of the person filling this form on behalf of the property owner:
        Liu Shan                                 Filling Date: July 5, 2000

Date of data entry: July 5, 2000

Notes:   1) This form is specifically for auxiliary buildings leased for
mobile communications;

         2) Please provide copies of leasing contracts for buildings in respect
of which leasing contracts have been signed;

         3) Please fill in the "Remarks" if necessary.

Assessed by: Zhongzi Assets Appraisal Office     Chesterton Petty Limited
<PAGE>   23
INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED FOR BUSINESS PURPOSES

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication                Appraisal Base date: June 30th, 2000
Company Xingtai Branch
-------------------------------------------------------------------------------------------------------------------------
No.      Name of Building       Detailed Address          Struct-  Number  Leased     Time of    Lease Term   Rent   Rent/
                                                           ure      of     Floorage  Completion  --Year             year
                                                                   Story   (Square   of the      -Month-Year        RMB
                                                                           meters)   Building    -Month
                                                                                     (mm/yy)
-------- ---------------------- ------------------------- -------- ------  -------   ---------  --------      ------  -----
<S>      <C>                    <C>                       <C>      <C>     <C>       <C>        <C>           <C>     <C>
2        Qinghe Post Office     San Yang Xi                                  70                               28000    28000
                                Street
----------------------------------------------------------------------------------------------------------------------------
3        Long Yao Post          Town                                         52                               20800    20800
         Office
----------------------------------------------------------------------------------------------------------------------------
                                                                            122                               48800    48800
----------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>

Name of the Property Owner: Hebei Mobile Communication                                                        Unit: RMB
Company Xingtai Branch
-----------------------------------------------------------------------------------------------------------------------
No.      Name of Building       Detailed Address         Rent/Square   Leasing      Lessor's Ownership          Remarks
                                                           meter        Contract      Documentation
                                                         -----------      (x)      --------------------------
                                                         (RMB/year)               Building   Land      Others
                                                                                   Title      Use
-------- ---------------------- ----------------------- ------------   -------   --------- ---------  -------  -------
<S>      <C>                    <C>                     <C>            <C>       <C>       <C>        <C>      <C>
2        Qinghe Post Office     San Yang Xi                    400
                                Street
----------------------------------------------------------------------------------------------------------------------
3        Long Yao Post          Town                           400
         Office
----------------------------------------------------------------------------------------------------------------------
                                                               800
----------------------------------------------------------------------------------------------------------------------
</TABLE>

Notes:   1) This form is specifically for auxiliary buildings leased for
            mobile communications;

         2) Please provide copies of leasing contracts for buildings in respect
            of which leasing contracts have been signed;

         3) Please fill in the "Remarks" if necessary.

         Assessed by: Zhongzi Assets Appraisal Office     Chesterton Petty
         Limited
<PAGE>   24
<TABLE>
<CAPTION>

INVENTORY AND VALUATION OF BUILDINGS AND PROPERTIES LEASED FOR BASE STATIONS

Name of the Property Owner: Hebei Mobile Communication  Company                Appraisal Base date: June 30th, 2000
Xingtai Branch
------------------------------------------------------------------------------------------------------------------------------
No.      Name of Building          Detailed Address          Struct-  Number  Leased     Time of    Lease Term     Rent   Rent/
                                                              ure      of     Floorage  Completion   -Year                year
                                                                      Story   (Square   of the      -Month -Year          RMB
                                                                              meters)   Building    -Month
                                                                                         (mm/yy)
-------- ----------------------    ------------------------- -------- ------  -------   ---------  --------        ------  -----
<S>      <C>                       <C>                       <C>      <C>     <C>       <C>        <C>             <C>     <C>
 ####       Xin He                   County                                    19.3                                 7720       7720
            Telecommunication        Telecommunication 
                                     Bureau
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Xin He                   Xi Liu                                    45.2                                18080      18080
            Telecommunication
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Xin He                   Xun Zhai                                  45.2                                18080      18080
            Telecommunication
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Xingtai Post Office      Taihang Branch                            54.5                                21800      21800
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Xingtai Post Office      Train Station                             25.5                                10200      10200
-----------------------------------------------------------------------------------------------------------------------------------
 ####       County Broadcasting      Bai Yun Mountain                Iron        25                                10000      10000
            Station                                                  Tower
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Guo Xin Page             Page Company                             46.36                                18544      18544
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Chang Zheng Factory      Chang Zheng Factory                         24                                 5040       5040
-----------------------------------------------------------------------------------------------------------------------------------
 ####       No. 1 Cotton Storehouse                                            15.5                                10220      10220
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Jin Long Restaurant      Xin Hua Road                                30                                10080      10080
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Army 52715                                                           48                                25000      25000
-----------------------------------------------------------------------------------------------------------------------------------
 ####       City Television Station  Ye Jin Road                                 15                                13000      13000
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Labor Union of Xingtai                                             34.5                                10000      10000
            County
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Dong Office of the       Dong Wei Cheng Road                         28                                10220      10220
            Industrial and
            Commercial Bank of
            China,
-----------------------------------------------------------------------------------------------------------------------------------
 ####       State Tax Bureau                                                     30                                20000      20000
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Kang Zhuang Train        Kang Zhuang Station                         41                                 2000       2000
            Station
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Zhang Tai Post Office    Zhang Tai Town                            38.1                                15440      15440
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Qinghe Post Office       San Yang Xi Street of                    19.61                                 7844       7844
                                     the County
-----------------------------------------------------------------------------------------------------------------------------------
 ####       Qinghe Post Office       San Yang Xi Street of                    14.31                                 5724       5724
                                     the County
-----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
Name of the Property Owner: Hebei Mobile Communication  Company                                                     Unit: RMB
Xingtai Branch
----------------------------------------------------------------------------------------------------------------------------
No.      Name of Building          Detailed Address          Rent/Square   Leasing      Lessor's Ownership          Remarks
                                                               meter       Contr