Mr. YASUYUKI MATSUDA, Vice Chairman of KAO (China) Holding Co., and Mr. Xia Guang, Executive Manager of Shanghai Zizhu Science-based Industrial Park, signed Investment Agreement on Sept. 3, 2004, which means KAO (China) R&D Co.’s final decision into Zizhu Park. With USD9MILLION total investment, the R&D Center is mainly on the research and development of daily consumables, cosmetics and chemistry stuff. The new company is estimated to start its construction by the end of this year.