<SEC-DOCUMENT>0000898430-01-503132.txt : 20011030
<SEC-HEADER>0000898430-01-503132.hdr.sgml : 20011030
ACCESSION NUMBER:		0000898430-01-503132
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20011210
FILED AS OF DATE:		20011026

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TRIO TECH INTERNATIONAL
		CENTRAL INDEX KEY:			0000732026
		STANDARD INDUSTRIAL CLASSIFICATION:	SPECIAL INDUSTRY MACHINERY, NEC [3559]
		IRS NUMBER:				952086631
		STATE OF INCORPORATION:			CA
		FISCAL YEAR END:			0625

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-14523
		FILM NUMBER:		1767676

	BUSINESS ADDRESS:	
		STREET 1:		355 PARKSIDE DR
		CITY:			SAN FERNANDO
		STATE:			CA
		ZIP:			91340
		BUSINESS PHONE:		8183659200

	MAIL ADDRESS:	
		STREET 1:		355 PARKSIDE DRIVE
		CITY:			SAN FERNANDO
		STATE:			CA
		ZIP:			91340
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>ddef14a.htm
<DESCRIPTION>DEFINITIVE PROXY STATEMENT
<TEXT>
<HTML><HEAD>
<TITLE>Definitive Proxy Statement</TITLE>
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 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>SCHEDULE 14A INFORMATION &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>PROXY STATEMENT PURSUANT TO SECTION 14(a) OF &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>THE
SECURITIES EXCHANGE ACT OF 1934 &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">Fil</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">ed by the Registrant&nbsp;&nbsp;<FONT FACE="'WINGDINGS', Times">&#120;</FONT> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">Fil</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">ed by a Party other than the Registrant&nbsp;&nbsp;</FONT><FONT FACE="'WINGDINGS', Times" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times"
SIZE="2"> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">Ch</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">eck the appropriate box: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Preliminary Proxy Statement &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Confidential, for Use of the Commission only (as permitted by Rule 14a-6(e)(2)) &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><FONT FACE="'WINGDINGS', Times">&#120;</FONT></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Definitive Proxy Statement &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Definitive Additional Materials &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Soliciting Material Pursuant to Rule 240.14a-12 &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT
FACE="'Times New Roman', Times" SIZE="6"><B>Trio-Tech International &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>(Name of Registrant as Specified In Its Charter) &nbsp;</B></FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>N/A &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>(Name of Person(s) Filing Proxy
Statement, if other than the Registrant) &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">Pay</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">ment of Filing Fee (Check the appropriate box): &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><FONT FACE="'WINGDINGS', Times">&#120;</FONT></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">No fee required. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(1)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Title of each class of securities to which transaction applies: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(2)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Aggregate number of securities to which transaction applies: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(3)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and
state how it was determined): &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(4)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Proposed maximum aggregate value of transaction: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(5)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Total fee paid: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Fee paid previously with preliminary materials: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="2" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="2"></FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously.
Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(1)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Amount Previously Paid: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(2)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Form, Schedule or Registration Statement No.: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(3)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Filing Party: &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(4)</FONT></DIV></TD>
<TD WIDTH="014" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Date Filed: &nbsp;</FONT></DIV> </TD></TR></TABLE>

 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="4"><B>TRIO-TECH INTERNATIONAL &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="3"><B>NOTICE OF ANNUAL MEETING OF SHAREHOLDERS &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="3"><B>To Be Held
December 10, 2001 &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NOTICE IS HEREBY GIVEN that
the Annual Meeting of Shareholders of Trio-Tech International, a California corporation (the &#147;Company&#148;), will be held at our principal executive offices, located at 355 Parkside Drive, San Fernando, California, on Monday, December 10, 2001
at 10:00 A.M., local time, for the following purposes, as set forth in the attached Proxy Statement: &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">1.</FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">To elect directors to hold office until the next annual meeting of shareholders; &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">2.</FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">To ratify the selection of Deloitte &amp; Touche LLP as our independent accountants for the fiscal year ending June 30, 2002; and &nbsp;</FONT></DIV>
</TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">3.</FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">To transact such other business as may properly come before the meeting or any adjournment thereof. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors has fixed the close of business on October 19, 2001 as the record date
for determining the shareholders entitled to notice of and to vote at the Annual Meeting and any adjournment and postponements thereof. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After careful consideration, the Trio-Tech International Board of Directors recommends a vote IN FAVOR OF each such proposal. &nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders are cordially invited to attend the Annual Meeting in
person. Whether you plan to attend the Annual Meeting or not, please complete, sign and date the enclosed Proxy Card and return it without delay in the enclosed postage-prepaid envelope. If you do attend the Annual Meeting, you may withdraw your
Proxy and vote personally on each matter brought before the meeting. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="052%">&nbsp;</TD>
<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">By</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;Order of the Board of Directors &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="052%">&nbsp;</TD>
<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">DA</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">LE C. CHEESMAN &nbsp;</FONT></DIV> </TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="52%">&nbsp;</TD>
<TD WIDTH="8%" VALIGN="top"> <FONT FACE="'Times New Roman', Times" SIZE="2"><I>Secretary</I></FONT></TD>
<TD ALIGN="left" VALIGN="top" width="40%"> <DIV><FONT FACE="'Times New Roman', Times" SIZE="2"><I> &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">Oc</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">tober 26, 2001 &nbsp;</FONT></DIV> </TD></TR></TABLE>
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<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">San</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;Fernando, California &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT
FACE="'Times New Roman', Times" SIZE="2"><B>IMPORTANT &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;WHETHER OR NOT YOU PLAN TO ATTEND THE MEETING, YOU ARE REQUESTED TO MARK, DATE AND SIGN THE ENCLOSED PROXY CARD AND RETURN IT AS PROMPTLY AS POSSIBLE IN THE ENCLOSED
POSTAGE-PREPAID RETURN ENVELOPE SO THAT IF YOU ARE UNABLE TO ATTEND THE ANNUAL MEETING, YOUR SHARES MAY BE VOTED. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times"
SIZE="2"><B>THANK YOU FOR ACTING PROMPTLY &nbsp;</B></FONT></DIV>

 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="3"><B>TRIO-TECH INTERNATIONAL &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT
FACE="'Times New Roman', Times" SIZE="2"><B>355 Parkside Drive &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>San Fernando, California 91340 &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="3"><B>PROXY STATEMENT &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="3"><B>ANNUAL MEETING OF SHAREHOLDERS
&nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>To be held December 10, 2001 &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2"><B>GENERAL &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;This Proxy Statement is furnished in connection with the solicitation of the enclosed Proxy on behalf of the Board of Directors of Trio-Tech International, a California corporation
(&#147;Trio-Tech&#148; or the &#147;Company&#148;), for use at the annual meeting of shareholders of the Company (the &#147;Annual Meeting&#148;) to be held at 10:00 a.m., local time, on Monday, December 10, 2001 and at any adjournments thereof, for
the purposes set forth in the accompanying notice. This Proxy Statement and the enclosed Proxy are intended to be mailed to shareholders on or about November 9, 2001. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>RECORD DATE AND VOTING SECURITIES &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The close of business on October 19, 2001 has been fixed as the record date for shareholders entitled to notice of and to vote at the Annual Meeting. As of that date, there were
2,927,596 shares of the Company&#146;s common stock (the &#147;Common Stock&#148;) outstanding and entitled to vote, the holders of which are entitled to one vote per share. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>VOTING GENERALLY &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In the election of directors, a shareholder may cumulate his votes for one or more candidates, but only if each such candidate&#146;s name has been placed in nomination prior to
the voting and the shareholder has given notice at the meeting, prior to the voting, of his intention to cumulate his votes. If any one shareholder has given such notice, all shareholders may cumulate their votes for the candidates in nomination. If
the voting for directors is conducted by cumulative voting, each share will be entitled to a number of votes equal to the number of directors to be elected. These votes may be cast for a single candidate or may be distributed among two or more
candidates in such proportions as the shareholder thinks fit. The five candidates receiving the highest number of affirmative votes will be elected. With respect to the election of directors, any votes against a candidate or withheld from voting
(whether by abstention, broker non-votes or otherwise) will not be counted and will have no legal effect on the vote. Discretionary authority to cumulate votes is solicited hereby. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders are requested to date, sign and return the enclosed Proxy to make certain their
shares will be voted at the Annual Meeting. Any Proxy given may be revoked by the shareholder at any time before it is voted by delivering written notice of revocation to the Secretary of the Company, by filing with him a Proxy bearing a later date,
or by attending the Annual Meeting and voting in person. All Proxies properly executed and returned will be voted in accordance with the instructions specified thereon. If no instructions are specified, Proxies will be voted for the election of the
five nominees for directors named under &#147;Election of Directors&#148; and for approval of the ratification of the selection of Deloitte &amp; Touche LLP as our independent accountants for the fiscal year ending June 30, 2002. Because abstentions
with respect to any matter other than the election of directors are treated as shares present or represented and entitled to vote for purposes of determining whether that matter has been approved by the shareholders, abstentions have the same effect
as negative votes. Broker non-votes and shares as to which proxy authority has been withheld with respect to any matter are not deemed to be present or represented for purposes of determining whether shareholder approval of that matter has been
obtained. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>TRIO-TECH INFORMATION &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Our principal executive offices are located at 355 Parkside Drive, San Fernando, California 91340. The telephone number of
our principal offices is (818) 365-9200. &nbsp;</FONT></DIV> <P></P>

 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>PROPOSAL 1 &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>ELECTION OF DIRECTORS &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2"><B>INFORMATION WITH RESPECT TO DIRECTORS &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board has nominated the persons listed below for election to the Board at the Annual Meeting, to hold office until the next annual meeting and until their respective successors
are elected and qualified. At present there is one vacancy on the Board of Directors due to the resignation of Mr. F.D. (Chuck) Rogers in July 2001. The Board does not intend to fill the vacancy at this time. It is intended that the Proxies
received, unless otherwise specified, will be voted for the five nominees named below, all of whom are incumbent directors of the Company. It is not contemplated that any of the nominees will be unable or unwilling to serve as a director but, if
that should occur, the persons designated as Proxy holders will vote in accordance with their best judgment. In no event will Proxies be voted for a greater number of persons than the number of nominees named in this Proxy Statement. The following
sets forth, as of October 19, 2001, the names of each of the five nominees for election as a director, his principal occupation, age, the year he became a director of the Company, and additional biographical data. &nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left">
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<TD VALIGN="bottom" NOWRAP WIDTH="22%" ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>NAME &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>AGE &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>PRINCIPAL OCCUPATION &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="22%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">A. </FONT><FONT FACE="'Times New Roman', Times" SIZE="2">Charles Wilson &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="3%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">77 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Chairman of the Board of Trio-Tech International; &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="22%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="3%"> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Chairman of the Board of Earnest Paper Products, Inc.; &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="22%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="3%"> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Chairman of the Board of Daico Industries &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="10"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="22%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">S.W</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">. Yong &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="3%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">48 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Chief Executive Officer and President of Trio-Tech International &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="10"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="22%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Ric</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">hard M. Horowitz &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="3%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">60 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">President of Management Brokers Insurance Agency; &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="22%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="3%"> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Chairman of the Board of Leviathan Corporation &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="10"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="22%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Wi</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">lliam L. Slover &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="3%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">80 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Management Consultant &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="10"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="22%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Jas</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">on T. Adelman &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="3%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">32 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Managing Director of H.C. Wainwright &amp; Co. &nbsp;</FONT></DIV> </TD> </TR>
 </TABLE> </DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>A. Charles Wilson &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Wilson, age 77, has served as a Director of Trio-Tech since 1966, and was President and Chief Executive Officer of the Company from 1981 to
1989. In 1989, he was elected Chairman of the Board. Mr. Wilson is also Chairman of the Board of Ernest Paper Products, Inc. and Chairman of Daico Industries, Inc., as well as an attorney admitted to practice law in California. &nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>S.W. Yong &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Yong, age 48, has been a Director of Trio-Tech since 1990. He has been the Chief Executive Officer and President since 1990. He has been
associated with Trio-Tech International Pte. Ltd. in Singapore since 1976 and has been its Managing Director since August 1980. Mr. Yong holds a Masters Degree in Business Administration, Graduate Diploma in Marketing Management and a Diploma in
Industrial Management. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>Richard M. Horowitz &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Horowitz, age 60, has served as a Director of Trio-Tech since 1990. He has been President of Management Brokers Insurance Agency since 1974. He
also serves as Chairman of Leviathan Corporation, computer sales, consulting and software company, and is Chairman of Dial 800, Inc., a national telecommunication company. Mr. Horowitz holds a Masters Degree in Business Administration from
Pepperdine University. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>William L. Slover &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Slover, age 80, has served as a Director of Trio-Tech since 1989. He has been a management consultant since 1983. Mr. Slover served as President
and Chief Executive Officer of Delphi Communications Corporation,
a developer of voice and test mail systems and automated telephone answering services. Prior thereto, he served as Group Executive and Vice-President of General Instrument Corporation from 1974
to 1978 and as Vice-President and General Manager of Ampex Corporation from 1972 to 1974. Mr. Slover also served on the Board of Directors of several privately held venture capital start-up companies. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>Jason T. Adelman &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mr. Adelman, age 32, was elected to the Board of Trio-Tech in April 1997. Mr. Adelman is a Managing Director of investment banking for Boston based
H.C. Wainwright &amp; Co. in the firm&#146;s New York City office. Previously, Mr. Adelman was employed by Drake Capital Securities (1997-1999), Spencer Trask Securities (1996-1997) and Coopers &amp; Lybrand LLP (1994-1996). Mr. Adelman is an honors
graduate of the University of Pennsylvania and Cornell Law School. From time to time, H.C. Wainwright &amp; Co. provides investment banking services to the Company. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>BOARD MEETINGS AND COMMITTEES &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board held four meetings during the fiscal year ended June 30, 2001. All of the directors attended all of the meetings of the Board and its committees on which they served
during the fiscal year. The Company does not have a nominating committee, and the entire Board nominated the directors nominated for election at the Annual Meeting. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board has a standing Compensation Committee, which currently consists of S.W. Yong, Jason T. Adelman, Richard M. Horowitz and
A. Charles Wilson. The Compensation Committee administers the Company&#146;s existing stock option plan and determines salary and bonus arrangements. The Compensation Committee met three times during the past fiscal year. &nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board has a standing Audit Committee, which currently consists of
William L. Slover, Jason T. Adelman and Richard M. Horowitz. Pursuant to its written charter, which charter was adopted by the Board of Directors, the Audit Committee is charged with reviewing our annual audit and meeting with our independent public
accountants to review planned audit procedures. The Audit Committee also reviews with the independent public accountants and management the results of the audit, including any recommendations of the independent public accountants for improvements in
accounting procedures and internal controls. The Audit Committee held four meetings during the year ended June 30, 2001. Each of the members of the Audit Committee is independent (as defined in Section 121(A) of the AMEX listing standards). A copy
of the written charter of the Audit Committee is attached to this Proxy Statement as Appendix A. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>Audit Fees: &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deloitte &amp; Touche LLP billed the Company an aggregate of $141,245 for services rendered for the audit of the Company&#146;s annual financial
statements for the fiscal year ended June 30, 2001 and reviews of the financial statements included in the Company&#146;s Form 10-Qs for that fiscal year. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>Financial Information Systems Design and Implementation Fees: &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There were no fees billed by Deloitte &amp; Touche LLP for services rendered for information
technology services relating to financial information systems design and implementation for the fiscal year ended June 30, 2001. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>All Other Fees: &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;There were no other fees billed by Deloitte &amp; Touche LLP for services rendered for the fiscal year ended June 30, 2001. &nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Because Deloitte &amp; Touche LLP did not provide the Company any non-audit
services for the fiscal year ended June 30, 2001, the Audit Committee did not need to consider whether the provision of the non-audit services provided to the Company by Deloitte &amp; Touche LLP for the fiscal year ended June 30, 2001 was
compatible with maintaining the independence of Deloitte &amp; Touche LLP. &nbsp;</FONT></DIV> <P></P>

 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>REPORT OF THE AUDIT COMMITTEE &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee reviewed and discussed with management the audited financial statements of
the Company for the fiscal year ended June 30, 2001. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Audit Committee received from Deloitte &amp; Touche LLP the written disclosures and letter required by Independence Standards Board Standard No. 1. The Audit Committee
discussed with Deloitte &amp; Touche LLP the matters required to be discussed by Statement on Auditing Standards No. 61 and matters relating to that firm&#146;s independence. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based on the above-described review, written disclosures, letter and discussions, the Audit Committee recommended to the
Board of Directors of the Company that the audited financial statements for the fiscal year ended June 30, 2001 be included in the Company&#146;s Annual Report on Form 10-K for that fiscal year. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Dated October 26, 2001 &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">THE AUDIT COMMITTEE &nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">William L. Slover, Chair &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Jason T. Adelman
&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Richard M. Horowitz &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2"><B>COMPENSATION OF DIRECTORS &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;During
Fiscal 2001, the following non-employee directors, currently consisting of Messrs. Horowitz, Slover, and Adelman, each received quarterly fees in an amount equal to $1,500 for each quarter in which they attended a Board meeting and an annual fee of
$5,000. Mr. Wilson, the other non-employee director, received quarterly fees in an amount equal to $4,500 for each quarter in which he attended a Board meeting and an annual fee of $15,000. During Fiscal 2002, each of our directors will receive
director fees in the amount of $5,000 per year (with the exception of the Chairman of the Board who will receive a fee of $15,000 per year). In addition, directors are reimbursed for reasonable out-of-pocket expenses incurred in connection with
attendance at such meetings. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Each of our directors
is entitled to participate in our 1998 Director Stock Option Plan (the &#147;Directors Plan&#148;) and receives automatic annual grants of our Common Stock. Each of Messrs. Horowitz, Slover, and Adelman, were granted options to purchase 5,000 shares
on July 10, 2000 at an exercise price of $5.37 and each of Messrs. Wilson and Yong were granted options to purchase 10,000 shares on July 10, 2000 at an exercise price of $5.37. All options granted under the Directors Plan terminate five years from
the date of grant unless terminated sooner upon termination of the optionee&#146;s status as a director or otherwise pursuant to the Directors Plan. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2"><B>VOTE REQUIRED FOR ELECTION &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The five persons receiving the highest number of affirmative votes will be elected as directors of the Company. Votes against a nominee or withheld from voting (whether by
abstention, broker non-votes or otherwise) will have no legal effect on the vote. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>THE BOARD OF DIRECTORS
RECOMMENDS A VOTE &#147;FOR&#148; EACH OF THE DIRECTOR NOMINEES SET FORTH HEREIN. &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>PROPOSAL 2
&nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>RATIFICATION OF SELECTION OF INDEPENDENT AUDITORS &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Board of Directors, upon recommendation of the Audit Committee, has selected Deloitte &amp;
Touche LLP, independent public accountants, to audit our financial statements for the year ending June 30, 2002. Deloitte &amp; Touche LLP has audited our financial statements for a number of years. &nbsp;</FONT></DIV> <P></P>

 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Representatives of
Deloitte &amp; Touche LLP are expected to be present at the Annual Meeting and will have the opportunity to make a statement if they desire to do so. The representatives also are expected to be available to respond to appropriate questions from
shareholders. The Board of Directors believes that reappointing Deloitte &amp; Touche LLP is in our best interest. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2"><B>VOTE REQUIRED &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The affirmative vote
of a majority of the votes cast is required to ratify the selection of Deloitte &amp; Touche LLP as our independent auditors. Because abstentions will be treated as shares present or represented at the Annual Meeting and entitled to vote,
abstentions have the same effect as a negative vote. Broker non-votes and shares as to which proxy authority has been withheld will not be deemed present or represented for purpose of determining whether shareholder approval has been obtained and
thus will have no legal effect on approval of the ratification of the selection of Deloitte &amp; Touche LLP. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2"><B>THE BOARD OF DIRECTORS RECOMMENDS A VOTE &#147;FOR&#148; THE RATIFICATION OF THE SELECTION OF DELOITTE &amp; TOUCHE LLP AS OUR INDEPENDENT PUBLIC ACCOUNTANTS FOR THE FISCAL YEAR ENDING JUNE 30, 2002. &nbsp;</B></FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>EXECUTIVE OFFICERS &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Victor H.M. Ting</I>, age 47, first joined Trio-Tech as the Financial Controller for the Company&#146;s Singapore subsidiary in 1980. He was
promoted to the level of Business Manager from 1985-1989. In December 1989 he became the Director of Finance and Sales &amp; Marketing and later, the General Manager of the Singapore subsidiary. Mr. Ting was elected Vice-President and Chief
Financial Officer of Trio-Tech International in November 1992. Mr. Ting holds a Bachelor of Accountancy Degree and Masters Degree in Business Administration. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Richard Lim</I>, age 42, joined Trio-Tech in 1982 and became the Quality Assurance Manager in 1985. He was promoted to the
position of Operations Manager in 1988. In 1990 he was promoted to Business Manager and was responsible for the Malaysian operations in Penang and Kuala Lumpur. Mr. Lim became the General Manager of the Company&#146;s Malaysia subsidiary in 1991 and
in February 1993, all test facilities in Southeast Asia came under his responsibility. He holds diplomas in Electronics &amp; Communications and Industrial Management and a Masters Degree in Business Administration. He was elected Corporate
Vice-President-Testing in July 1998. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Terry
Fong</I>, age 46, has been with Trio-Tech since 1978 and served as Service Manager from 1980. He was the Sales/Service Manager from 1983 to 1986. In 1987 he played a key role in the set up of the Trading Operation in that he was instrumental in the
appointment of principals and selection of products. Mr. Fong became the Area Sales/Service Manager in 1990 responsible for Regional sales. He was promoted to be Operations Manager (Trading) in 1992 assuming overall responsibility for the area and
has recently become the General Manager of Trading. Mr. Fong holds diplomas in Manufacturing and Marketing, a Masters Degree in Business Administration and a Bachelors&#146; Degree in Economics. He was elected Corporate Vice President-Distribution
in July 1998. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>Other Key Employees &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Anthony DiPiero</I>, age 42, has been associated with Trio-Tech since the purchase of Universal Systems in November 1997. He has been in the
semiconductor industry since 1977. Mr. DiPiero founded Universal Plastics in 1982, which was sold in 1994. Subsequently, he founded Universal Systems in 1996, where he currently serves as subsidiary president. &nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Lee-Soon Siew Kuan</I>, age 43, joined Trio-Tech in 1981 and became the
Administrative Manager in 1985. In 1988 she was promoted to Personnel/Administration Manager and her responsibilities extended to include the
Penang operation. She became the Logistics Manager in 1990 and the Purchasing/Store and Traffic as well as the Kuala Lumpur Operation was added to her coverage. In 1991 Mrs. Lee was promoted to
Group Logistics Manager and currently the Director of Logistics, responsible for the Human Resources, Purchasing/Store and Traffic functions of all the Operations in Southeast Asia. She holds a diploma in Personnel Management. &nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<I>Dale Cheesman</I>, age 59, has been associated with Trio-Tech
International since 1991 as Corporate Controller. Prior thereto Mr. Cheesman served as Controller for IPD/Interpark in Sherman Oaks, California from 1990 to 1991, Chief Financial Officer of Gamma Electronics in Santa Monica, California from 1989 to
1990 and Subsidiary Treasurer and Controller to Comtal/3M in Pasadena, California from 1983 to 1989. Mr. Cheesman was President of Cheesman Associates Inc., a Triple Check Franchise, from 1979 to 1983 and Project Controller for USC&#146;s
NICEM/NISCEM Project in Los Angeles, California while attending Graduate School in 1978 and 1979. Mr. Cheesman holds a Bachelor of Science Degree in Business Administration and Accounting with Graduate courses from Wharton Business School
(University of Pennsylvania), University of Chicago, University of South Florida and University of Southern California. He was elected Secretary of Trio-Tech in April 1997. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>EXECUTIVE COMPENSATION AND RELATED MATTERS &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth the compensation of the Company for its Chief Executive Officer and each executive officer whose total annual salary and bonus for the fiscal year
ended June 30, 2001 exceeded in the aggregate $100,000. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>SUMMARY COMPENSATION TABLE &nbsp;</B></FONT></DIV>
<DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="91%">

<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="11" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Annual Compensation &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Long-Term <BR>Compensation &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Name and Principal Position &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE WIDTH="225"></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Fiscal <BR>Year &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Salary&nbsp;($) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Bonus&nbsp;($) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Other <BR>Annual <BR>Compen- <BR>sation&nbsp;($) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Securities <BR>Underlying <BR>Options&nbsp;(#) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">S.W</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">. Yong, President and &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2001 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">206,760 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">89,961 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">7,941 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">10,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Ch</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">ief Executive Officer &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">195,347 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">76,250 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,553 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">10,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">1999 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">209,868 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">24,100 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,617 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">10,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD HEIGHT="10"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Vic</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">tor H. M. Ting, VP and &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2001 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">113,711 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">17,992 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">4,723 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Ch</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">ief Financial Officer &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">106,896 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">17,080 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,471 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">9,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">1999 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">108,506 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,302 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">4,762 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">3,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD HEIGHT="10"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Sim</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">on Costello &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2001 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">115,310 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">7,605 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">18,024 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Co</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">rporate Vice-President &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">108,800 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">17,373 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">US</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">A &amp; Europe Operations (1) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">1999 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">107,362 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">3,604 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">18,347 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2,500 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD HEIGHT="10"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Ric</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">hard Lim &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2001 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">78,143 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">31,264 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">4,345 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Co</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">rporate Vice-President &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">76,935 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">9,296 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">4,580 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Te</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">sting &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">1999 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="10%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">76,561 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,302 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">4,580 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="9%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2,500 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD> </TR>
 </TABLE> </DIV>
<TABLE>
<TR>
<TD WIDTH="34">&nbsp;</TD>
<TD WIDTH="6%"><HR SIZE="1" NOSHADE ALIGN="left"></TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">1.</FONT></DIV></TD>
<TD WIDTH="017" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Mr. Costello resigned as an officer and employee of Trio-Tech, effective October 25, 2001. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Singapore officers are also credited with a compulsory contribution to their provident pension
fund of 8% of their total compensation in accordance with Singapore law. Mr. Costello is also credited with a contribution to his Ireland pension fund of 10% of his base salary. The estimated annual benefits due him at retirement age are the
contribution plus investment earnings over a 10-year period. The Company ceased contributions to his Ireland pension fund as of October 25, 2001. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <P></P>

 <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>EMPLOYEE BENEFIT PLANS &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s 1998 Stock Option Plan was approved by the Board on September 30, 1997 and the stockholders on December 8, 1997. The purpose of
the 1998 Stock Option Plan is to enable the Company to attract and retain top-quality employees, officers, directors and consultants and to provide them with an incentive to enhance stockholder return. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s 1988 Stock Option Plan, which was approved by the Board of Directors in July
1988 and by the shareholders in December 1988, expired by its terms in July 1998. The expiration of the 1988 Stock Option Plan had no effect on outstanding options granted thereunder prior to its expiration, some of which remain outstanding. The
following tables contain certain information regarding options granted under the 1998 Stock Option Plan and options exercised under the 1988 Stock Option Plan: &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>OPTION GRANTS IN FISCAL 2001 &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%">

<TR>
<TD VALIGN="bottom" NOWRAP> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="12" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>INDIVIDUAL GRANTS &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ROWSPAN="2" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Potential Realizable Value At <BR>Assumed Annual Rates Of <BR>Stock Price Appreciation For <BR>Option Term
&nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD VALIGN="bottom" ROWSPAN="2" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Name &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" ROWSPAN="2" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Number of <BR>Securities <BR>Underlying <BR>Options <BR>Granted &nbsp;</B></FONT></DIV> <HR SIZE="1"
NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="4" ROWSPAN="2" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>% Of Total <BR>Options <BR>Granted To <BR>Employees In <BR>Fiscal Year &nbsp;</B></FONT></DIV> <HR SIZE="1"
NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Exercise <BR>Price <BR>($/sh) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ROWSPAN="2" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Expiration <BR>Date &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD> </TR>
<TR>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>5%&nbsp;($) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>10%&nbsp;($) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">S.W</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">. Yong &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">10,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD ALIGN="right" VALIGN="bottom" NOWRAP> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">11.63</FONT></DIV></TD>
<TD NOWRAP VALIGN="Bottom"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">% &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$5.370 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">7/12/2004 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$14,836 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$32,784 &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Vic</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">tor H.M. Ting &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD ALIGN="right" VALIGN="bottom" NOWRAP> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5.81</FONT></DIV></TD>
<TD NOWRAP VALIGN="Bottom"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">% &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$5.625 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">3/27/2005 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$&nbsp;&nbsp;7,770 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$17,171 &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Sim</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">on Costello &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD ALIGN="right" VALIGN="bottom" NOWRAP> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5.81</FONT></DIV></TD>
<TD NOWRAP VALIGN="Bottom"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">% &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$5.625 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">3/27/2005 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$&nbsp;&nbsp;7,770 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$17,171 &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Ric</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">hard Lim &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD ALIGN="right" VALIGN="bottom" NOWRAP> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5.81</FONT></DIV></TD>
<TD NOWRAP VALIGN="Bottom"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">% &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$5.625 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">3/27/2005 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$&nbsp;&nbsp;7,770 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">$17,171 &nbsp;</FONT></DIV> </TD> </TR>
 </TABLE> </DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>AGGREGATED OPTION EXERCISES IN FISCAL 2001 &nbsp;</B></FONT></DIV>
<DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>AND FISCAL YEAR-END OPTION VALUES &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%">

<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Name &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Shares <BR>Acquired <BR>On Exercise <BR>(#) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Value <BR>Realized <BR>($) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="5" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Number of &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Securities
&nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Underlying &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Unexercised <BR>Options at FY-End (#)
&nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Exercisable/ <BR>Unexercisable &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="5" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Value of Unexercised <BR>In-The-Money <BR>Options at FY-End <BR>($) Exercisable/ <BR>Unexercisable &nbsp;</B></FONT></DIV>
<HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">S.W</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">. Yong &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">15,000 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">45,000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">60,000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">/&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">28,200 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">/&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0 &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Vic</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">tor H.M. Ting &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">7,500 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">16,875 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">21,850 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">/&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">18,250 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">/&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0 &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Sim</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">on Costello &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">938 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2,228 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">19,650 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">/&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">5,000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">/&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0 &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Ric</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">hard Lim &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">3,750 &nbsp;</FONT></DIV> </TD>
<TD NOWRAP VALIGN="bottom" WIDTH="1%">&nbsp;</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">8,438 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">22,190 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">/&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">16,250 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">/&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="1%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0 &nbsp;</FONT></DIV> </TD> </TR>
 </TABLE> </DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>REPORT OF THE COMPENSATION COMMITTEE ON EXECUTIVE COMPENSATION
&nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee of the Board of
Directors of Trio-Tech, composed of the Chairman, the Chief Executive Officer and two outside directors, is responsible for, among other duties, recommending to the Board suggestions and administration of policies and procedures regarding executive
compensation and criteria for the amounts of such compensation. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The compensation program presently in effect at Trio-Tech International has three elements: (1) base annual salary; (2) potential annual cash incentive awards that are based
primarily on financial performance of the Company or its relevant business operating units; and (3) long-term incentives in the form of stock options. The Committee believes that a significant portion of the total compensation of the Company&#146;s
executives should be at risk, based upon the achievement of pre-established goals. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>Base cash compensation &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In determining the compensation levels for the Chief Executive Officer (CEO) and Chief Financial Officer (CFO), the Committee reviewed compensation
policies of other companies, comparable in size, to Trio-Tech. &nbsp;</FONT></DIV> <P></P>

 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The fiscal year 2001 base
cash compensation for officers of the Company who reside in Singapore was denominated in the currency of Singapore. The exchange rate therefor was established as of June 30, 2000 and was computed to be 1.82 Singapore Dollars to each U.S. Dollar.
Singapore executive officers are also credited with a compulsory contribution under Singapore&#146;s provident pension fund. The only other executive officer of the Company during fiscal 2001 resided in the United States but is a citizen of Ireland.
The Company credited him with a contribution to his Ireland pension plan in an amount equal to 10% of his base compensation. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>Bonuses for 2001 &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Compensation Committee also considered awarding additional discretionary annual cash bonuses to its executive officers based primarily on the
Company&#146;s overall performance and, to a lesser extent, on the contribution each executive made to the Company&#146;s success. The Committee noted that as of June 30, 2000, the Company&#146;s performance was consistent with its business plan and
determined the CEO would retain his right to receive a bonus equal to 5% of pre-tax profits for the fiscal year ended June 30, 2001. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>2001 Compensation of CEO &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;After giving effect to the currency exchange rates and the compulsory pension fund payment, the CEO&#146;s compensation was US$304,662 for fiscal
2001, compared to US$277,150 in the preceding year. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="002%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><I>Stock Options &nbsp;</I></FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company&#146;s 1998 Stock Option Plan was approved by the Board on September 30, 1997 and the stockholders on December 8, 1997. The purpose of
the 1998 Stock Option Plan is to enable the Company to attract and retain top-quality employees, officers, directors and consultants and to provide them with an incentive to enhance stockholder return. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In this context, the Compensation Committee reviewed the performance of its officers and
key-employees and, in recognition of their contributions, they were granted options covering, in the aggregate, 40,000 shares at an exercise price of $5.625 per share and 4,000 shares at an exercise price of $3.40 per share. &nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;In addition, the Company granted options for 42,000 shares to its directors
under the Directors Stock Option Plan discussed below. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company instituted the Directors Stock Option Plan (the &#147;Directors Plan&#148;) in 1997, which was unanimously approved by the Board and approved by the Company&#146;s
Shareholders. The purpose of the Directors Plan is to give appropriate compensation to the Directors of the Company. The Company believes that the Directors Plan will provide non-employee Directors and the President of the Company (if he or she is a
Director of the Company) a favorable opportunity to acquire Common Stock of the Company and will create an incentive for them to serve on the Board of Directors of the Company and contribute to its long-term growth and profitability objectives.
Additionally, the Company paid to its non-employee Directors during fiscal 2001 $5,000 per year and $1,500 per meeting attended (and to the Chairman of the Board $15,000 per year and $4,500 per meeting attended), which the Company believes is
substantially less than directors of comparable public companies are paid. Directors are also reimbursed for out-of-pocket expenses incurred in attending meetings. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Dated October 26, 2001 &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">THE COMPENSATION COMMITTEE &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">A. Charles Wilson, Chair &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Jason T. Adelman &nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Richard M. Horowitz &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">S.W. Yong &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<P></P>

 <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>STOCK PRICE PERFORMANCE GRAPH &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Stock Price Performance Graph below shall not be deemed incorporated by reference by any general statement incorporating by reference this Proxy
Statement into any filing under the Securities Act of 1933 or under the Securities Exchange Act of 1934, except to the extent the Company specifically incorporates this information by reference, and shall not otherwise be deemed filed under such
Acts. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The graph below compares cumulative total
return of Trio-Tech International, the Standard &amp; Poor&#146;s 500 Index and the AMEX Composite Index. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times"
SIZE="2"><B>[PERFORMANCE GRAPH APPEARS HERE] &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%">

<TR>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>1993 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>1994 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>1995 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>1996 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>1997 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>1998 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>1999 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>2000 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>2001 &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">S&amp;</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">P &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">100.00 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">98.61 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">120.91 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">148.85 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">196.47 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">251.67 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">304.68 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">322.44 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP WIDTH="5%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">272.23 &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">AM</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">EX &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">100.00 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">97.66 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">115.18 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">132.82 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">143.37 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">166.10 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">183.75 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">215.49 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP WIDTH="5%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">211.35 &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">TR</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">T &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">100.00 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">125.00 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">176.76 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">187.50 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">323.24 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">269.53 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">203.13 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="5%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">406.25 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP WIDTH="5%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">203.13 &nbsp;</FONT></DIV> </TD> </TR>
 </TABLE> </DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&#149;</FONT></DIV></TD>
<TD WIDTH="023" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Total Return assumes $100 invested on June 30, 1993 in Trio-Tech International, the S&amp;P 500 Index and the AMEX Composite Index, including reinvestment of
dividends. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT
&nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following table sets forth certain
information, as of October 19, 2001, regarding the beneficial ownership of the Common Stock by (i) all persons known by the Company to be the beneficial owners of more than 5% of its Common Stock, (ii) each of the directors of the Company, (iii)
each of the executive officers named in the Summary Compensation Table below who is not a director and (iv) all executive officers and directors of the Company as a group. To the knowledge of the Company, unless otherwise indicated, each of the
shareholders has sole voting and investment power with respect to shares beneficially owned, subject to applicable community property and similar statutes. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%">

<TR>
<TD VALIGN="bottom" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Name&nbsp;(1) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE ALIGN="left"></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" COLSPAN="3" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Shares Owned &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Beneficially as
of &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>October 19, 2001&nbsp;(1) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP ALIGN="center"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Percent of Class&nbsp;(1) &nbsp;</B></FONT></DIV> <HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD HEIGHT="10"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">S.W</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">. Yong &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">351,924 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(2) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">11.78% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Ric</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">hard M. Horowitz &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">235,701 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(3) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">7.98% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">A. </FONT><FONT FACE="'Times New Roman', Times" SIZE="2">Charles Wilson &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">241,608 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(4) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">8.14% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Vic</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">tor H.M. Ting &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">114,902 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(5) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">3.90% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Wi</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">lliam L. Slover &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">25,000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(6) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">0.85% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Jas</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">on Adelman &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">66,315 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(7) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">2.22% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Sim</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">on Costello &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">43,441 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(8) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">1.47% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">Ric</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">hard Lim &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">53,320 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(9) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">1.81% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="10" NOWRAP> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD HEIGHT="10" NOWRAP> <HR SIZE="1" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD HEIGHT="10" NOWRAP> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD HEIGHT="10" NOWRAP> <HR SIZE="1" NOSHADE></TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">All</FONT><FONT FACE="'Times New Roman', Times" SIZE="2"> Directors and Executive &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Of</FONT><FONT FACE="'Times New Roman', Times" SIZE="2">ficers as a group (9 persons) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="8%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">1,159,928 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="6%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">(2)&#150;(10) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="right" NOWRAP WIDTH="12%"> <DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">36.05% &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD HEIGHT="10" NOWRAP> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD HEIGHT="10" NOWRAP> <HR SIZE="2" NOSHADE></TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD HEIGHT="10" NOWRAP> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD HEIGHT="10" NOWRAP> <HR SIZE="2" NOSHADE></TD> </TR>
 </TABLE> </DIV> <HR SIZE="1" NOSHADE WIDTH="10%" ALIGN="left">
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(1)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The percentage shown for each individual and for all executive officers and directors as a group is based upon 2,927,596 shares outstanding. The number of shares
indicated and the percentage shown for each individual and assumes the exercise of options and warrants that are presently exercisable or may become exercisable within 60 days from November 9, 2001 which are held by that individual or by all
executive officers and directors as a group, as the case may be. The address for each of the persons listed above is in care of the Company, 355 Parkside Drive, San Fernando, California 91340. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <P></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(2)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Includes options to purchase 60,000 shares from the Company at exercise prices ranging from $2.737 to $5.37 per share. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(3)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Includes options to purchase 25,000 shares from the Company at exercise prices ranging from $2.737 to $5.37. The remaining 210,701 shares are held in a trust for which
Mr. Horowitz serves as a trustee. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(4)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Includes options to purchase 40,000 shares from the Company at exercise prices ranging from $2.737 to $5.37 per share and 201,608 shares held in a trust for which A.
Charles Wilson serves as trustee. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(5)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Includes options to purchase 21,850 shares from the Company at exercise prices ranging from $3.20 to $6.00 per share. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(6)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Consists of options to purchase 25,000 shares from the Company at exercise prices ranging from $2.737 to $5.37 per share. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(7)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Consists of options and warrants to purchase 62,565 shares from the Company at exercise prices ranging from $2.737 to $5.37 per share. &nbsp;</FONT></DIV>
</TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(8)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Includes options and warrants to purchase 19,650 shares from the Company at exercise prices of $3.67 to $8.00 per share. Mr. Costello resigned as an officer and
employee effective October 25, 2001. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(9)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Includes options to purchase 22,190 shares from the Company at exercise prices of $3.20 to $7.00 per share. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="042" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">(10)</FONT></DIV></TD>
<TD WIDTH="005" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Includes, in addition to the options and warrants described in footnotes (2) through (9) above, options and warrants to purchase 13,670 shares from the Company at
exercise prices ranging from $3.20 to $8.00 per share. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Company does not know of any arrangements that may at a subsequent date result in a change of control of the Company. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Based solely on a review of reports on Forms 3, 4 and 5 and amendments thereto filed with the Securities and Exchange Commission
and furnished to the Company, no Director, executive officer or beneficial owner of more than 10% of Trio-Tech International&#146;s Common Stock failed to file on a timely basis any of such reports. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>SHAREHOLDER PROPOSALS &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholders who wish to present proposals at the 2001 Annual Meeting should submit their proposals in writing to the Secretary of the Company at
the address set forth on the first page of this Proxy Statement. Proposals must be received no later than July 12, 2002 for inclusion in next year&#146;s Proxy Statement and Proxy Card. If a stockholder intends to present a proposal at the next
Annual Meeting but does not seek inclusion of that proposal in the proxy statement for that meeting, the holders of proxies for that meeting will be entitled to exercise their discretionary authority on that proposal if the Company does not have
notice of the proposal by September 25, 2002. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>ANNUAL REPORT ON FORM 10-K &nbsp;</B></FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Upon the written request of any shareholder, the Company will provide,
without charge, a copy of the Company&#146;s Annual Report on Form 10-K filed with the Commission for the year ended June 30, 2001. This request should be directed to the Corporate Secretary, Trio-Tech International, 355 Parkside Drive, San
Fernando, California 91340. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>GENERAL INFORMATION &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The cost of soliciting the enclosed form of Proxy will be borne by the Company. In addition,
the Company will reimburse brokerage firms and other persons representing beneficial owners of shares for their expenses in
forwarding solicitation material to such beneficial owners. Directors, officers and regular employees of the Company may, without additional compensation, also solicit proxies personally or by
telephone, telegram or special letter. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At this
time, the Board knows of no other business that will come before the Annual Meeting. However, if any other matters properly come before the Annual Meeting, the persons named as Proxy holders will vote on them in accordance with their best judgment.
&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The Annual Report to Shareholders covering the
fiscal year ending June 30, 2001 is being mailed with this Proxy Statement to shareholders of record for this meeting. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="052%">&nbsp;</TD>
<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">By</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;Order of the Board of Directors &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="052%">&nbsp;</TD>
<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">DA</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">LE C. CHEESMAN &nbsp;</FONT></DIV> </TD></TR></TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="052%">&nbsp;</TD>
<TD WIDTH="002%" VALIGN="top"><DIV ALIGN="right"><FONT FACE="'Times New Roman', Times" SIZE="2">Sec</FONT></DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">retary &nbsp;</FONT></DIV> </TD></TR></TABLE> <P></P>

 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>APPENDIX A &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>TRIO-TECH INTERNATIONAL AUDIT COMMITTEE CHARTER &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;One committee of the board of directors will be known as the audit committee. Only independent directors will serve on the audit committee. An
independent director is free of any relationship that could influence his or her judgment as a committee member. An independent director may not be associated with a major vendor to, or customer of, the company. When there is some doubt about
independence, as when a member of the committee has short-term consulting contract with a major customer, the director should excuse himself from any decisions that might be influenced by that relationship. &nbsp;</FONT></DIV> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The primary function of the audit committee is to assist the board in
fulfilling its oversight responsibilities by reviewing the financial information that will be provided to the shareholders and others, the systems of internal controls management and the board of directors have established and all audit processes.
&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&#149;</FONT></DIV></TD>
<TD WIDTH="028" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2"><B>General responsibilities </B>&nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>1.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee provides open avenues of communication among the internal auditors, the independent accountant and the board of directors. &nbsp;</FONT></DIV>
</TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>2.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee must report committee actions to the full board of directors and may make appropriate recommendations. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>3.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee has the power to conduct or authorize investigations into matters within the committee&#146;s scope of responsibilities. The committee is
authorized to retain independent counsel, accountants or others it needs to assist in an investigation. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>4.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The committee will meet at least four times each year, more frequently if circumstances make that preferable. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>5.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee chairman has the power to call a committee meeting whenever he or she thinks there is a need. An audit committee member should not vote on any
matter in which he or she is not independent. The audit committee may ask members of management or others to attend the meeting and is authorized to receive all pertinent information from management. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>6.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will do whatever else the law, the company&#146;s charter or bylaws or the board of directors require. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&#149;</FONT></DIV></TD>
<TD WIDTH="028" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2"><B>Responsibilities for engaging independent accountants and appointing the internal auditor </B>&nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>1.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will select the independent accountants for company audits. The committee&#146;s selection is subject to approval by the full board of directors.
The audit committee also will review and set any fees paid to the independent accountants and review and approve dismissal of the independent accountants. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>2.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will review and have veto power over the appointment, replacement, reassignment or dismissal of the director of internal audit.<B> </B>
&nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>3.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will confirm and assure the independence of the internal auditor and the independent accountant, including a review of management consulting
services provided by the independent accountant and the fees paid for them. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>4.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will consider, in consultation with the independent accountant and the director of internal auditing, the audit scope and procedural plans made by
the internal auditors and the independent accountant. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>5.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will listen to management and the primary independent auditor if either thinks there might be a need to engage additional auditors. The audit
committee will decide whether to engage an additional firm and, if so, which one. &nbsp;</FONT></DIV> </TD></TR></TABLE> <P></P>

 <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>6.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will make sure that the director of internal auditing and the independent accountant coordinate the internal and external audits. The purpose of
coordinating these efforts is to assure completeness of coverage, reduce redundancy and use audit resources effectively. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&#149;</FONT></DIV></TD>
<TD WIDTH="028" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2"><B>Responsibilities for reviewing internal audits, the annual external audit and the review of quarterly and annual financial statements </B>&nbsp;</FONT></DIV>
</TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>1.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will ascertain that the independent accountant views the board of directors as its client, that it will be available to the full board of directors
at least annually and that it will provide the committee the committee with a timely analysis of significant financial reporting issues. <B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>2.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will ask management, the director of internal auditing and the independent accountant about significant risks and exposures and will assess
management&#146;s steps to minimize them.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>3.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will review the following with the independent accountant and the director of internal auditing:<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>a.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The adequacy of the company&#146;s internal controls, including computerized information system controls and security. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>b.</B></FONT></DIV></TD>
<TD WIDTH="020" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Any significant findings and recommendations made by the independent accountant or internal auditing, together with management&#146;s responses to them.
&nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>4.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Shortly after the annual examination is completed, the audit committee will review the following with management and the independent accountant. &nbsp;</FONT></DIV>
</TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>a.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The company&#146;s annual financial statements and related footnotes. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>b.</B></FONT></DIV></TD>
<TD WIDTH="020" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The independent accountant&#146;s audit of and report on the financial statements.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>c.</B></FONT></DIV></TD>
<TD WIDTH="022" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The auditor&#146;s qualitative judgments about the appropriateness, not just the acceptability, of accounting principles and financial disclosures and how aggressive
(or conservative) the accounting principles and underlying estimates are. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>d.</B></FONT></DIV></TD>
<TD WIDTH="020" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Any serious difficulties or disputes with management encountered during the course of the audit.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>e.</B></FONT></DIV></TD>
<TD WIDTH="022" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Anything else about the audit procedures or findings that GAAS requires the auditors to discuss with the committee.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>5.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will consider and review with management and the director of Internal auditing. <B> </B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>a.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Any significant findings during the year and management&#146;s responses to them. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>b.</B></FONT></DIV></TD>
<TD WIDTH="020" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Any difficulties the internal auditor encountered while conducting audits, including any restrictions on the scope of their work or access to required
information.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>c.</B></FONT></DIV></TD>
<TD WIDTH="022" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Any changes to the planned scope of management&#146;s internal audit plan that the committee thinks advisable.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV
ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>d.</B></FONT></DIV></TD>
<TD WIDTH="020" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The internal auditing department&#146;s charter.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>e.</B></FONT></DIV></TD>
<TD WIDTH="022" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The internal auditing department&#146;s charter.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="008%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>f.</B></FONT></DIV></TD>
<TD WIDTH="024" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Whether the internal auditing department has complied with the Institute of Internal Auditing&#146;s Standards for the Professional Practice of Internal
Auditing.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>6.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will review annual filings with the SEC and other published documents containing the company&#146;s financial statements.<B></B>
&nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>7.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will review the interim financial reports with management, the independent accountant and the director of internal auditing before those interim
reports are released to the public or filed with the SEC or other regulators.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>8.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">The audit committee will prepare a letter for inclusion in the annual report that describes the committee&#146;s composition and responsibilities and how the
responsibilities were fulfilled.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <P></P>


<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2">&#149;</FONT></DIV></TD>
<TD WIDTH="028" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2"><B>Periodic responsibilities </B>&nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>1.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Review and update the committee&#146;s charter annually.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>2.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Review policies and procedures covering officers&#146; expense accounts and perquisites including their use of corporate assets, and consider the results of any review
of those areas by the internal auditor or the independent accountant.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>3.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Review, with the director of internal auditing and the independent accountant, the results of their examination of compliance with the company&#146;s code of
conduct.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>4.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Review legal and regulatory matters that may have a material effect on the organization&#146;s financial statements, compliance policies and programs and reports from
regulators.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="004%">&nbsp;</TD>
<TD WIDTH="034" VALIGN="top" ALIGN="left"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>5.</B></FONT></DIV></TD>
<TD WIDTH="021" VALIGN="top"><DIV>&nbsp;</DIV></TD>
<TD ALIGN="left" VALIGN="top"><DIV><FONT FACE="'Times New Roman', Times" SIZE="2">Meet with the director of internal auditing, the independent accountant and management in separate executive sessions to discuss any matters the committee or these
groups believe should be discussed privately with the audit committee.<B></B> &nbsp;</FONT></DIV> </TD></TR></TABLE> <P></P>

 <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>TRIO-TECH INTERNATIONAL &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>Proxy Solicited
on Behalf of the Board of Directors of the Company &nbsp;</B></FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>for Annual Meeting of Shareholders on December 10, 2001 &nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1">The undersigned hereby appoints Maria Carlson and A. Charles Wilson or either of them as his/her true lawful agents and proxies with full power of
substitution to represent the undersigned at the Annual Meeting of Shareholders of Trio-Tech International to be held at our principal executive offices at 355 Parkside Drive, San Fernando, California on Monday, December 10, 2001 at 10:00 A.M., and
at any adjournments thereof, and to vote all shares that he/she is then entitled to vote, on all matters coming before said meeting. The undersigned directs that his/her proxy be voted as follows: &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="95%">

<TR>
<TD VALIGN="top" NOWRAP> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1">1.&nbsp;&nbsp;&nbsp;&nbsp;ELECTION OF DIRECTORS: &nbsp;</FONT></DIV> <DIV><FONT SIZE=1><BR></FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;</TD>
<TD VALIGN="top" NOWRAP WIDTH="32%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times"
SIZE="1"><B>&nbsp;&nbsp;F</B></FONT><FONT FACE="'Times New Roman', Times" SIZE="1"><B>OR</B> all nominees listed below (except <BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;as indicated to the contrary below) &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="top" NOWRAP WIDTH="29%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1"></FONT><FONT FACE="'WINGDINGS', Times" SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times"
SIZE="1"><B>&nbsp;&nbsp;W</B></FONT><FONT FACE="'Times New Roman', Times" SIZE="1"><B>ITHHOLD AUTHORITY</B> to vote <BR>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;for all nominees listed below &nbsp;</FONT></DIV> </TD> </TR>
 </TABLE> </DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1">Jason T. Adelman, Richard M. Horowitz, William L. Slover, A. Charles
Wilson, S.W. Yong. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1">INSTRUCTION: To withhold authority to vote for any individual nominee, write that
nominee&#146;s name on the space provided: &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <HR SIZE="1" NOSHADE ALIGN="left"><DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="1">2.&nbsp;&nbsp;&nbsp;&nbsp;To ratify the selection of Deloitte &amp; Touche LLP as our independent accountants for the fiscal year ending June 30, 2002. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT
FACE="'Times New Roman', Times" SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FOR&nbsp;</FONT><FONT FACE="'WINGDINGS', Times" SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times"
SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;AGAINST&nbsp;</FONT><FONT FACE="'WINGDINGS', Times" SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;ABSTAIN&nbsp;</FONT><FONT FACE="'WINGDINGS', Times"
SIZE="1" COLOR="#000000">&#168;</FONT><FONT FACE="'Times New Roman', Times" SIZE="1"> and &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="1">3.&nbsp;&nbsp;&nbsp;&nbsp;In their discretion, the Proxies are authorized to vote upon such other matters as may properly come before the Annual Meeting and any &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;adjournment thereof. &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1"><B>THIS PROXY WHEN PROPERLY EXECUTED WILL BE
VOTED IN THE MANNER DIRECTED HEREIN BY THE UNDERSIGNED SHAREHOLDER. IF NO DIRECTION IS MADE, THIS PROXY WILL BE VOTED &#147;FOR&#148; THE NOMINEES FOR DIRECTORS LISTED IN ITEM 1 AND &#147;FOR&#148; THE PROPOSAL DESCRIBED IN ITEM 2.
&nbsp;</B></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><I>(Continued and to be signed on the other side) &nbsp;</I></FONT></DIV>

 <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1"><I>(continued from other side) &nbsp;</I></FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%">


<TR>
<TD VALIGN="bottom" NOWRAP WIDTH="13%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1">Nu</FONT><FONT FACE="'Times New Roman', Times" SIZE="1">mber of shares
held:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> &nbsp;</FONT></DIV>
</TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP WIDTH="17%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="1">By:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="13%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" NOWRAP WIDTH="17%"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1">(Print Name) &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="bottom" NOWRAP WIDTH="13%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1">Da</FONT><FONT FACE="'Times New Roman', Times"
SIZE="1">ted:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;&nbsp;2000 &nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" NOWRAP WIDTH="17%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="1">By:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" NOWRAP WIDTH="13%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" NOWRAP WIDTH="17%"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Print name if held jointly &nbsp;</FONT></DIV> </TD>
</TR>
 </TABLE> </DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="1">If shares are held by your Broker, please print their name and address
below: &nbsp;</FONT></DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV> <DIV ALIGN="center">
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%">


<TR>
<TD VALIGN="bottom" ALIGN="center" NOWRAP WIDTH="1%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="1"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;</FONT><FONT FACE="'Times New Roman', Times" SIZE="1">
&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" NOWRAP WIDTH="17%"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times"
SIZE="1">By:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" ALIGN="center" NOWRAP WIDTH="1%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" NOWRAP WIDTH="17%"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1">Signature &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="bottom" ALIGN="center" NOWRAP WIDTH="1%"> <DIV ALIGN="left"><FONT FACE="'Times New Roman', Times"
SIZE="1"><U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>&nbsp;</FONT><FONT FACE="'Times New Roman', Times" SIZE="1">
&nbsp;</FONT></DIV> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" NOWRAP WIDTH="17%"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times"
SIZE="1">By:&nbsp;<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U> &nbsp;</FONT></DIV> </TD> </TR>
<TR>
<TD VALIGN="top" ALIGN="center" NOWRAP WIDTH="1%"> </TD>
<TD VALIGN="bottom" WIDTH="3%">&nbsp;&nbsp;</TD>
<TD VALIGN="bottom" ALIGN="center" NOWRAP WIDTH="17%"> <DIV ALIGN="center"><FONT FACE="'Times New Roman', Times" SIZE="1">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Signature if held jointly &nbsp;</FONT></DIV> </TD>
</TR>
 </TABLE> </DIV> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
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<TR>
<TD WIDTH="058%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>IMPORTANT:</B>&nbsp;&nbsp;&nbsp;&nbsp;Please sign above exactly as your name or names appear hereon. Joint owners should each sign personally.
Corporate proxies should be signed in full corporate name by the authorized officer. Fiduciaries should give full titles as such. &nbsp;</FONT></DIV> </TD></TR></TABLE> <DIV ALIGN="left"><FONT SIZE="1">&nbsp;</FONT></DIV>
<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="058%">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"><DIV ALIGN="left"><FONT FACE="'Times New Roman', Times" SIZE="2"><B>PLEASE MARK, DATE, SIGN AND RETURN YOUR PROXY PROMPTLY IN THE ENCLOSED ENVELOPE, WHICH REQUIRES NO POSTAGE IF MAILED IN THE UNITED STATES.
&nbsp;</B></FONT></DIV> </TD></TR></TABLE>
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