<SEC-DOCUMENT>0001144204-13-051888.txt : 20130923
<SEC-HEADER>0001144204-13-051888.hdr.sgml : 20130923
<ACCEPTANCE-DATETIME>20130923090224
ACCESSION NUMBER:		0001144204-13-051888
CONFORMED SUBMISSION TYPE:	DEF 14A
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20131031
FILED AS OF DATE:		20130923
DATE AS OF CHANGE:		20130923
EFFECTIVENESS DATE:		20130923

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Orient Paper Inc.
		CENTRAL INDEX KEY:			0001358190
		STANDARD INDUSTRIAL CLASSIFICATION:	CONVERTED PAPER & PAPERBOARD PRODS (NO CONTAINERS/BOXES) [2670]
		IRS NUMBER:				204158835
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		DEF 14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34577
		FILM NUMBER:		131109192

	BUSINESS ADDRESS:	
		STREET 1:		SCIENCE PARK, JULI ROAD
		STREET 2:		XUSHUI COUNTY, BAODING CITY
		CITY:			HEBEI PROVINCE,
		STATE:			F4
		ZIP:			072550
		BUSINESS PHONE:		(86) 312-8698215

	MAIL ADDRESS:	
		STREET 1:		SCIENCE PARK, JULI ROAD
		STREET 2:		XUSHUI COUNTY, BAODING CITY
		CITY:			HEBEI PROVINCE,
		STATE:			F4
		ZIP:			072550

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CARLATERAL, INC.
		DATE OF NAME CHANGE:	20060403
</SEC-HEADER>
<DOCUMENT>
<TYPE>DEF 14A
<SEQUENCE>1
<FILENAME>v355369_def14a.htm
<DESCRIPTION>DEF 14A
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>(Rule 14a-101)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION REQUIRED IN PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SCHEDULE 14A INFORMATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Proxy Statement Pursuant to Section 14(a)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>of the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 20%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by the Registrant </FONT><FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Filed
by a Party other than the Registrant </FONT><FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box:</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px; font-size: 10pt"><font style="font: 10pt Wingdings">&uml;</font></td>
    <td style="font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif">Preliminary Proxy Statement</font></td></tr>
<tr style="vertical-align: top">
    <td style="font-size: 10pt"><font style="font: 10pt Wingdings">&uml;</font></td>
    <td style="font-size: 10pt"><font style="font: 10pt Times New Roman, Times, Serif"><b>Confidential, for the use of the Commission only (as permitted by Rule 14a-6(e)(2))</b></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px"><font style="font: 10pt Wingdings">x</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Definitive Proxy Statement</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Wingdings">&uml;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Definitive Additional Materials</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px"><font style="font: 10pt Wingdings">&uml;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Soliciting Material Pursuant to &sect;240.14a-12</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ORIENT PAPER, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>




<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 25%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Registrant as Specified in its
Charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 25%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name of Person(s) Filing Proxy Statement,
if Other Than the Registrant)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Payment of Filing Fee (Check the appropriate box):</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px"><font style="font: 10pt Wingdings">x</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">No fee required.</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Wingdings">&uml;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(1)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Title of each class of securities to which transaction applies:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(2)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Aggregate number of securities to which transaction applies:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(3)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">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):</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(4)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Proposed maximum aggregate value of transaction:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(5)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Total fee paid:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px"><font style="font: 10pt Wingdings">&uml;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Fee paid previously with preliminary materials.</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Wingdings">&uml;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Check box if any part of the fee is offset as provided by Exchange Act Rule 0-1l (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.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(1)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Amount Previously Paid:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(2)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Form, Schedule or Registration Statement No.:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(3)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Filing Party:</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">(4)</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Date Filed:</font></td></tr>
</table>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><IMG SRC="logo.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right">September 23, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dear Stockholder:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On behalf of the Board of Directors of Orient
Paper, Inc. (the &ldquo;Company&rdquo; or &ldquo;we&rdquo;), I invite you to attend our 2013 Annual Meeting of Stockholders (the
&ldquo;Annual Meeting&rdquo;).&nbsp;&nbsp;We hope you can join us.&nbsp;&nbsp;The Annual Meeting will be held:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">At:</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Beijing Riverside Hotel</font></td></tr>
<tr style="vertical-align: top">
    <td colspan="2">&nbsp;</td>
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">No. 15 Shejichang Road, Fengtai District</FONT></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 96px">&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Beijing, People&rsquo;s Republic of China, 100072</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">On:</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">October 31, 2013</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 48px">&nbsp;</td>
    <td style="width: 48px"><font style="font: 10pt Times New Roman, Times, Serif">Time:</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">10 a.m. local time</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Notice of Annual Meeting of Stockholders,
the Proxy Statement and the proxy card accompany this letter and are also available, together with our Annual Report for the fiscal
year ended December 31, 2013, at www.orientpaperinc.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At the Annual Meeting, we will report on
important activities and accomplishments of the Company and review the Company&rsquo;s financial performance and business operations.&nbsp;&nbsp;You
will have an opportunity to ask questions and gain an up-to-date perspective on the Company and its activities, and to meet certain
directors and key executives of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As discussed in the enclosed Proxy Statement,
the Annual Meeting will also be devoted to the election of directors, ratification of the appointment of BDO China Shu Lun Pan
CPAs LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2013 and consideration of
any other business matters properly brought before the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We know that many of our stockholders will
be unable to attend the Annual Meeting.&nbsp;&nbsp;We are soliciting proxies so that each stockholder has an opportunity to vote
on all matters that are scheduled to come before the stockholders at the Annual Meeting.&nbsp;&nbsp;Whether or not you plan to
attend, please take the time now to read the Proxy Statement and vote by submitting by mail a paper copy of your proxy or vote
instructions, so that your shares are represented at the meeting.&nbsp;&nbsp;You may also revoke your proxy or vote instructions
and change your vote at any time prior to the Annual Meeting.&nbsp;&nbsp;Regardless of the number of Company shares you own, your
presence in person or by proxy is important for quorum purposes and your vote is important for proper corporate action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Thank you for your continuing interest in
Orient Paper, Inc.&nbsp;&nbsp;We look forward to seeing you at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If you have any questions about the Proxy
Statement, please contact us at Orient Paper, Inc., Science Park, Juli Road, Xushui County, Baoding City, Hebei Province, People&rsquo;s
Republic of China 072550.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 36%"><font style="font: 10pt Times New Roman, Times, Serif">Sincerely,</font></td>
    <td style="width: 64%">&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <TD><font style="font: 10pt Times New Roman, Times, Serif">/s/ Zhenyong Liu</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Zhenyong Liu</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Chairman and Chief Executive Officer</font></td>
    <td>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 95%">&nbsp;</td>
    <td style="width: 5%; border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Page</b></font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Notice of Annual Meeting of Stockholders</b></font></td>
    <td style="text-align: right">5</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Proxy Statement for the Annual Meeting of Stockholders</b></font></td>
    <td style="text-align: right">7</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Date, Time and Place of the Annual Meeting</font></td>
    <td style="text-align: right">7</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Purpose of the Annual Meeting</font></td>
    <td style="text-align: right">7</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Voting Rights&nbsp;and Revocation of Proxies</font></td>
    <td style="text-align: right">7</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Dissenters&rsquo; Right of Appraisal</font></td>
    <td style="text-align: right">8</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Outstanding Shares and Quorum</font></td>
    <td style="text-align: right">8</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Broker Non-Votes</font></td>
    <td style="text-align: right">8</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Required Votes for Each Proposal to Pass</font></td>
    <td style="text-align: right">8</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Voting Procedures</font></td>
    <td style="text-align: right">8</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Solicitation of Proxies</font></td>
    <td style="text-align: right">9</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Delivery of Proxy Materials to Households</font></td>
    <td style="text-align: right">9</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Interest of Officers and Directors in Matters to Be Acted Upon</font></td>
    <td style="text-align: right">9</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Security Ownership of Certain Beneficial Owners and Management</font></td>
    <td style="text-align: right">9</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Proposal 1: Election of Directors</b></font></td>
    <td style="text-align: right">11</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Nominees for Director</font></td>
    <td style="text-align: right">11</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Term of Office </font></td>
    <td style="text-align: right">11</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Vote Required and Board of Directors&rsquo; Recommendation</font></td>
    <td style="text-align: right">12</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Directors and Officers </font></td>
    <td style="text-align: right">12</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Involvement in Certain Legal Proceedings</FONT></td>
    <td style="text-align: right">13</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Transactions with Related Persons, Promoters, and Certain Control Persons</font></td>
    <td style="text-align: right">14</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Procedures for Approval of Related Party Transactions</font></td>
    <td style="text-align: right">14</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Section 16(a) Beneficial Ownership Reporting Compliance</font></td>
    <td style="text-align: right">15</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Director Independence</font></td>
    <td style="text-align: right">15</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Meetings and Committees of the Board of Directors; Annual Meeting Attendance</font></td>
    <td style="text-align: right">15</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Board Meetings</font></td>
    <td style="text-align: right">17</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Board Leadership Structure and Role in Risk Oversight</font></td>
    <td style="text-align: right">17</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Stockholder Communications</font></td>
    <td style="text-align: right">17</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Code of Ethics</font></td>
    <td style="text-align: right">18</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Board of Directors Compensation</font></td>
    <td style="text-align: right">18</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Report of the Audit Committee of the Board of Directors</font></td>
    <td style="text-align: right">19</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Compensation Committee Report of Executive Compensation</font></td>
    <td style="text-align: right">19</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Compensation Committee Interlocks and Insider Participation</font></td>
    <td style="text-align: right">20</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Executive Compensation</font></td>
    <td style="text-align: right">20</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Summary Compensation Table</font></td>
    <td style="text-align: right">20</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Employment Agreements</font></td>
    <td style="text-align: right">20</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Outstanding Equity Awards at December 31, 2012</font></td>
    <td style="text-align: right">21</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm</b></font></td>
    <td style="text-align: right">22</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Audit Fees</font></td>
    <td style="text-align: right">22</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Audit-Related Fees</font></td>
    <td style="text-align: right">22</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Tax Fees</font></td>
    <td style="text-align: right">22</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">All Other Fees</font></td>
    <td style="text-align: right">22</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Pre-Approval Policies and Procedures</font></td>
    <td style="text-align: right">22</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Vote Required and Board of Directors&rsquo; Recommendation</font></td>
    <td style="text-align: right">22</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Stockholder Proposals</b></font></td>
    <td style="text-align: right">23</td></tr>
<TR STYLE="vertical-align: top; background-color: White">
    <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Other Business</b></font></td>
    <td style="text-align: right">23</td></tr>
<TR STYLE="vertical-align: top; background-color: rgb(204,255,204)">
    <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Annual Report</b></font></td>
    <td style="text-align: right">23</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ORIENT PAPER, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Science Park, Juli Road</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Xushui County, Baoding City</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Hebei Province, People&rsquo;s Republic
of China 072550</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>


















<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 15%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>NOTICE OF ANNUAL MEETING OF STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO BE HELD ON OCTOBER 31, 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp; </B></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 15%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">To the Stockholders of ORIENT PAPER, INC.:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">NOTICE IS HEREBY GIVEN that the Annual
Meeting of Stockholders of ORIENT PAPER, INC. (the &ldquo;Company&rdquo;), a Nevada corporation, will be held at Beijing Riverside
Hotel, No. 15 Shejichang Road, Fengtai District, Beijing, People&rsquo;s Republic of China, 100072 on Thursday, October 31, 2013,
at 10 a.m. local time, for the following purposes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">1.</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">To elect two directors in Class I to serve on the Board of Directors of the Company, with such Class I directors to serve until the 2015 Annual Meeting of Stockholders and&nbsp;&nbsp;until their respective successors have been duly elected and qualified or until his earlier resignation, removal or death;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">2.</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">To ratify the appointment of BDO China Shu Lun Pan CPAs LLP as the Company&rsquo;s independent registered public accounting firm for the fiscal year ending December 31, 2013; and</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">3.</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">To act on such other matters as may properly come before the meeting or any adjournment or adjournments thereof.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
Board has fixed the close of business on September 27, 2013 as the record date for the meeting and only holders of shares of record
at that time will be entitled to notice of and to vote at the Annual Meeting or any adjournment or adjournments thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 50%">&nbsp;</td>
    <td style="width: 50%"><font style="font: 10pt Times New Roman, Times, Serif">By Order of the Board of Directors.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Zhenyong Liu</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif"><i>Chairman and Chief Executive Officer</i></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Hebei Province, PRC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 23, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 5; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>IMPORTANT</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IF YOU CANNOT PERSONALLY ATTEND THE ANNUAL MEETING, IT
IS REQUESTED THAT YOU INDICATE YOUR VOTE ON THE ISSUES INCLUDED ON THE ENCLOSED PROXY AND DATE, SIGN AND MAIL IT IN THE
ENCLOSED SELF-ADDRESSED ENVELOPE WHICH REQUIRES NO POSTAGE IF MAILED IN THE UNITED STATES OF AMERICA.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS
FOR THE ANNUAL MEETING OF STOCKHOLDERS TO BE HELD OCTOBER 31, 2013. THIS PROXY STATEMENT TO THE STOCKHOLDERS WILL BE AVAILABLE
AT WWW.ORIENTPAPERINC.COM.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 6; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ORIENT PAPER, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Science Park, Juli Road,</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Xushui County, Baoding City</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Hebei Province, People&rsquo;s Republic
of China 072550</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp; </B></P>





<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 15%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FOR</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNUAL MEETING OF STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TO BE HELD OCTOBER 31, 2013</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<HR SIZE="1" NOSHADE ALIGN="CENTER" STYLE="width: 15%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Date, Time and Place of the Annual Meeting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The enclosed proxy is solicited by the Board
of Directors (the &ldquo;Board&rdquo;) of Orient Paper, Inc. (the &ldquo;Company&rdquo;), a Nevada corporation, in connection with
the Annual Meeting of Stockholders to be held at&nbsp;Beijing Riverside Hotel, No. 15, Shejichang Road, Fengtai District, Beijing,
People&rsquo;s Republic of China, 100072 on Thursday, October 31, 2013, at 10 a.m. local time, and any adjournments thereof, for
the purposes set forth in the accompanying Notice of Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The principal executive office of the Company
is Science Park, Juli Road, Xushui County, Baoding City, Hebei Province, People&rsquo;s Republic of China 072550, and its telephone
number, including area code, is 86-312-8698215.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Purpose of the Annual Meeting</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">At the Annual Meeting, you will be asked to consider and vote
upon the following matters:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">1.</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">To elect two directors in Class I to serve on the Board, with such Class I directors to serve until the 2015 Annual Meeting of Stockholders and&nbsp;&nbsp;until their respective successors have been duly elected and qualified or until his earlier resignation, removal or death;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">2.</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">To ratify the appointment of BDO China Shu Lun Pan CPAs LLP as the Company&rsquo;s independent registered public accounting firm for the fiscal year ending December 31, 2013; and</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">3.</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">To act on such other matters as may properly come before the meeting or any adjournment or adjournments thereof.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Voting Rights and Revocation of Proxies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9pt">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The
record date with respect to this solicitation is the close of business on September 27, 2013 (the &ldquo;Record Date&rdquo;) and
only stockholders of record at that time will be entitled to vote at the Annual Meeting and any adjournment or adjournments thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The shares of the Company&rsquo;s common
stock (&ldquo;Common Stock&rdquo;) represented by all validly executed proxies received in time to be taken to the meeting and
not previously revoked will be voted at the meeting. This proxy may be revoked by the stockholder at any time prior to its being
voted by filing with the Secretary of the Company either a notice of revocation or a duly executed proxy bearing a later date.
We intend to release this Proxy Statement and the enclosed proxy card to our stockholders on or about September 24, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 7; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->7<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Dissenters&rsquo; Right of Appraisal</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of shares of our Common Stock do
not have appraisal rights under Nevada law or under the governing documents of the Company in connection with this solicitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Outstanding Shares and Quorum</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The number of outstanding shares of Common
Stock entitled to vote at the meeting is 18,456,900. Each share of Common Stock is entitled to one vote. The presence in person
or by proxy at the Annual Meeting of the holders of 9,228,451 shares, or a majority of the number of outstanding shares of Common
Stock, shall constitute a quorum. There is no cumulative voting. Shares that abstain or for which the authority to vote is withheld
on certain matters (so-called &ldquo;broker non-votes&rdquo;) will be treated as present for quorum purposes on all matters.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Broker Non-Votes</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of shares of our Common Stock that
are held in street name must instruct their bank or brokerage firm that holds their shares how to vote their shares.&nbsp;&nbsp;If
a shareholder does not give instructions to his or her bank or brokerage firm, it will nevertheless be entitled to vote the shares
with respect to &ldquo;routine&rdquo; items, but it will not be permitted to vote the shares with respect to &ldquo;non-routine&rdquo;
items. In the case of a non-routine item, such shares will be considered &ldquo;broker non-votes&rdquo; on that proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Proposal 1(election of directors) is a matter
that we believe will be designated &ldquo;non- routine.&rdquo; Proposal 2 (ratification of the appointment of independent registered
public accounting firm) is a matter we believe will be considered &ldquo;routine.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Banks or brokerages cannot use discretionary
authority to vote shares on Proposal 1 (election of directors) if they have not received instructions from their clients.&nbsp;&nbsp;Please
submit your vote instruction form so your vote is counted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Required Votes for Each Proposal to Pass</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Assuming
the presence of a quorum at the Annual Meeting:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr>
    <td style="vertical-align: bottom; width: 43%; border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Proposal</b></font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 40%; border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Vote&nbsp;Required</b></font></td>
    <td style="vertical-align: top; width: 1%">&nbsp;</td>
    <td style="vertical-align: bottom; width: 15%; border-bottom: black 1.5pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Broker</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Discretionary</b></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Vote&nbsp;Allowed</b></P></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Election of&nbsp;&nbsp;two members to the Board </font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Plurality of the votes cast (the two directors receiving the most &ldquo;For&rdquo; votes)</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">No</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Ratification of the Appointment of BDO China Shu Lun Pan CPAs LLP as the Company&rsquo;s Independent Registered Public Accounting Firm for the Fiscal Year Ending December 31, 2013</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">A majority of the votes cast</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Yes</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Voting Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In voting by proxy with regard to the election
of directors, you may vote in favor of all nominees, withhold your votes as to all nominees, or withhold your votes as to specific
nominees.&nbsp;&nbsp;With regard to other proposals, you may vote in favor of each proposal or against each proposal, or in favor
of some proposals and against others, or you may abstain from voting on any or all of the proposals.&nbsp;&nbsp;You should specify
your respective choices on the accompanying proxy card or your vote instruction form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 8; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->8<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Solicitation of Proxies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The solicitation of proxies is made by the
Company. The expenses of solicitation of proxies will be paid by the Company. We may solicit proxies by mail, and the officers
and employees of the Company may solicit proxies personally or by telephone and will receive no extra compensation from such activities.
The Company will reimburse brokerage houses and other nominees for their expenses incurred in sending proxies and proxy materials
to the beneficial owners of shares held by them.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Delivery of Proxy Materials to Households</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Only one copy of the Company&rsquo;s 2012
Annual Report and this Proxy Statement will be delivered to an address where two or more stockholders reside with the same last
name or whom otherwise reasonably appear to be members of the same family based on the stockholders&rsquo; prior express or implied
consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We will deliver promptly upon written or
oral request a separate copy of the 2012 Annual Report and this Proxy Statement upon such request.&nbsp;&nbsp;If you share an address
with at least one other stockholder, currently receive one copy of our Annual Report and Proxy Statement at your residence, and
would like to receive a separate copy of our Annual Report and Proxy Statement for future stockholder meetings of the Company,
please specify such request in writing and send such written request to Orient Paper, Inc., Science Park, Juli Road, Xushui County,
Baoding City, Hebei Province, People&rsquo;s Republic of China 072550; Attention: Secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If you share an address with at least one
other stockholder and currently receive multiple copies of Annual Report and Proxy Statement, and you would like to receive a single
copy of Annual Report and Proxy Statement, please specify such request in writing and send such written request to Orient Paper,
Inc., Science Park, Juli Road, Xushui County, Baoding City, Hebei Province, The People&rsquo;s Republic of China 072550; Attention:
Secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Interest of Officers and Directors in Matters to Be Acted
Upon</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Except for the election to the Board of
the two nominees set forth herein, none of our officers or directors has any interest in any of the matters to be acted upon at
the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITY OWNERSHIP OF CERTAIN BENEFICIAL
OWNERS AND MANAGEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;The following table sets forth certain
information with respect to the beneficial ownership of our voting securities by (i) any person or group owning more than 5% of
any class of voting securities, (ii) each director, (iii) our Chief Executive Officer and President and (iv) all executive officers
and directors as a group as of August 10, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 9; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Amount and Nature of Beneficial Ownership</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"><B>&nbsp;</B></P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <td style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="3" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Amount and</font></td>
    <td>&nbsp;</td>
    <td colspan="3" style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="3" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Nature of</font></td>
    <td>&nbsp;</td>
    <td colspan="3" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Percentage&nbsp;of</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Name&nbsp;and&nbsp;Address&nbsp;</font></td>
    <td colspan="3" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Beneficial</font></td>
    <td>&nbsp;</td>
    <td colspan="3" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Common</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Title of Class</font></td>
    <td>&nbsp;</td>
    <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">of&nbsp;Beneficial&nbsp;Owner</font></td>
    <td>&nbsp;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Ownership (1)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">Stock (1)</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td><font style="font: 10pt Times New Roman, Times, Serif"><b>Directors and Executive Officers</b></font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Zhenyong Liu&nbsp;</font></td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="width: 35%"><font style="font: 10pt Times New Roman, Times, Serif">Common Stock</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 38%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CEO and Director</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Science Park, Juli Road, Xushui County</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Baoding City, Hebei Province</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">People&rsquo;s Republic Of China 072550</P></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 10%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,159,167</font></td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 1%">&nbsp;</td>
    <td style="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">27.95</font></td>
    <td style="width: 2%"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Winston C. Yen&nbsp;</font></td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Common Stock</font></td>
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">CFO</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">345 S. Figueroa Street, #100</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Los Angeles, CA 90071</P></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">35,913</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">*</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Drew Bernstein&nbsp;</font></td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Common Stock</font></td>
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Seven Penn Plaza Suite 830</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">New York, NY 10001</P></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">29,775</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">*</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Fuzeng Liu&nbsp;</font></td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Common Stock</font></td>
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Science Park, Juli Road, Xushui County</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Baoding City, Hebei Province</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">People&rsquo;s Republic Of China 072550</P></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Common Stock</font></td>
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dahong Zhou</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Secretary</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Science Park, Juli Road, Xushui County</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Baoding City, Hebei Province</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">People&rsquo;s Republic Of China 072550</P></td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0%</font></td>
    <td style="text-align: right">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Wenbing Christopher Wang&nbsp;</font></td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Common Stock</font></td>
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">TYG Center, Tower B, Suite 2601</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Dong San Huan Bei Lu Bing 2</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Beijing, People&rsquo;s Republic Of China 100027</P></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">26,220</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">*</font></td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td style="padding-left: 10pt">&nbsp;</td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Zhaofang Wang&nbsp;</font></td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Common Stock</font></td>
    <td>&nbsp;</td>
    <td>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Science Park, Juli Road, Xushui County</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Baoding City, Hebei Province</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">People&rsquo;s Republic Of China 072550</P></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <td><font style="font: 10pt Times New Roman, Times, Serif">All Directors and Executive Officers as a Group (seven persons)</font></td>
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td style="border-bottom: black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,251,075&nbsp;</font></td>
    <td>&nbsp;</td>
    <td style="text-align: right">&nbsp;</td>
    <td style="border-bottom: black 2.25pt double">&nbsp;</td>
    <td style="border-bottom: black 2.25pt double; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">28.45</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">%&nbsp;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>






<HR SIZE="1" NOSHADE ALIGN="LEFT" STYLE="width: 25%; color: black">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;*less than 1% of the Company&rsquo;s
issued and outstanding common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(1)&#9;In determining beneficial ownership of our common stock
as of a given date, the number of shares shown includes shares of common stock which may be acquired on exercise of warrants or
options or conversion of convertible securities within 60 days of that date. In determining the percent of common stock owned by
a person or entity on September 27, 2013, (a) the numerator is the number of shares of the class beneficially owned by such person
or entity, including shares which may be acquired within 60 days on exercise of warrants or options and conversion of convertible
securities, and (b) the denominator is the sum of (i) the total shares of common stock outstanding on September 27, 2013 (18,456,900),
and (ii) the total number of shares that the beneficial owner may acquire upon conversion of the preferred and on exercise of the
warrants and options. Unless otherwise stated, each beneficial owner has sole power to vote and dispose of its shares.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<!-- Field: Page; Sequence: 10; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL 1: ELECTION OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Nominees for Director</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Two directors in Class I, Drew Bernstein
and Wenbing Christopher Wang are up for re-election at the Annual Meeting, with such Class I directors to serve until the 2015
Annual Meeting of Stockholders and until their respective successors have been elected and has qualified, or until their earlier
resignation, removal or death. If for some unforeseen reason one or more of the nominees is not available as a candidate for director,
the proxies may be voted for such other candidate or candidates as may be nominated by the Board.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth the positions
and offices presently held with the Company by each nominee, his age as of the Record Date, and the year in which he became a director.
Proxies not marked to the contrary will be voted in favor of each such nominee's election.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 30%; border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Name</b></font></td>
    <td style="width: 3%">&nbsp;</td>
    <td style="width: 7%; border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Age</b></font></td>
    <td style="width: 3%">&nbsp;</td>
    <td style="width: 38%; border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Position&nbsp;with&nbsp;the&nbsp;Company</b></font></td>
    <td style="width: 3%">&nbsp;</td>
    <td style="width: 16%; border-bottom: black 1.5pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Director&nbsp;Since</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Drew Bernstein</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">56</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Director</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">October 2009</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Wenbing Christopher Wang</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">41</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Director</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">October 2009</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following is a summary of the biographical
information of our director-nominees:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Drew Bernstein. </I>Mr. Bernstein was appointed as our director
on October 28, 2009. Mr. Bernstein is co-founder and managing partner of Marcum Bernstein&amp;Pinchuk LLP, an accounting firm headquartered
in New York, a position he has held since 1983. Mr. Bernstein, a certified public accountant, received his BS degree from the University
of Maryland Business School. He is a member of the American Institute of Certified Public Accounts (AICPA), The New York State
Society of Certified Public Accounts (NYSSCPA) and The National Society of Accountants (NSA). Mr. Bernstein currently serves as
a director of Cleantech Solutions International, Inc. (fka China Wind Systems, Inc., NASDAQ: CLNT) and Neostem, Inc. (NYSE MKT:
NBS)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><I>Wenbing Christopher </I>Wang. Mr. Wenbing Christopher Wang
was appointed as our director on October 28, 2009. Mr. Wang has been President and director of Fushi Copperweld, Inc. (&ldquo;Fushi&rdquo;)
since January 21, 2008. Mr. Wang also served as Fushi&rsquo;s Chief Financial Officer from December 13, 2005 to August 31, 2009.
Prior to Fushi, Mr. Wang worked for Redwood Capital, Inc., China Century Investment Corporation, Credit Suisse First Boston and
VCChina in various capacities. Fluent in both English and Chinese, Mr. Wang holds an MBA in Finance and Corporate Accounting from
Simon Business School of University of Rochester. Mr. Wang was named one of the top ten CFO&rsquo;s of 2007 in China by CFO magazine.
Mr. Wang also serves as a director of General Steel Holdings (NYSE: GSI).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Board believes that each of the Company&rsquo;s
director-nominees is highly qualified to serve as a member of the Board. Each of the director-nominees has contributed to the mix
of skills, core competencies and qualifications of the Board. When evaluating candidates for election to the Board, the Board seeks
candidates with certain qualities that it believes are important, including integrity, an objective perspective, good judgment,
leadership skills. Each of the director-nominees has contributed to the mix of skills, core competencies and qualifications of
the Board. Our director-nominees are highly educated and have diverse backgrounds and talents and extensive track records of success
in what we believe are highly relevant positions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Term of Office</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">If elected, the director-nominees in Class
I, Drew Bernstein and Wenbing Christopher Wang, will serve for a two-year term until the 2015 Annual Meeting of Stockholders and
until their respective successors have been elected and has qualified, or until their earlier resignation, removal or death.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 11; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required and Board of Directors&rsquo; Recommendation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The affirmative vote of the holders of a
plurality of the votes cast is required for approval of this proposal.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><B>The Board recommends a vote FOR the election
of all the above director-nominees.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DIRECTORS AND OFFICERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Set forth below is certain information regarding
our directors and executive officers.&nbsp; The Board is comprised of five directors, and is divided among two classes, Class I
and Class II.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The following table sets forth certain information
with respect to our directors and executive officers:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <TD STYLE="width: 26%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Name</b></font></td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 10%; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Age</b></font></td>
    <TD STYLE="width: 2%">&nbsp;</td>
    <TD STYLE="width: 60%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Position/Title</b></font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Zhenyong Liu</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">49</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Chief Executive Officer and Chairman of the Board (Class II)</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Winston C. Yen</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">44</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Chief Financial Officer</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Dahong Zhou</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">33</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Secretary</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Drew Bernstein</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">56</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Director (Class I)</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Wenbing Christopher Wang</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">41</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Director (Class I)</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Fuzeng Liu</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">63</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Director (Class II)</font></td></tr>
<tr style="vertical-align: top">
    <td><font style="font: 10pt Times New Roman, Times, Serif">Zhaofang Wang</font></td>
    <td>&nbsp;</td>
    <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">57</font></td>
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Director (Class II)</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Directors initially elected in Class
I, Drew Bernstein and Wenbing Christopher Wang, will serve until this Annual Meeting and until their respective successors have
been elected and have qualified, or until their earlier resignation, removal or death, or until their respective successors have
been elected and have qualified, or until their earlier resignation, removal or death. The Directors initially elected in Class
II, Zhenyong Liu, Fuzeng Liu and Zhaofang Wang will serve until the Annual Meeting of Stockholders in 2014 and until their respective
successors have been elected and have qualified, or until their earlier resignation, removal or death. At the Annual Meeting, the
class of Directors to be elected in such year (Class I) would be elected for a two year term, and at each successive annual meeting,
the class of Directors to be elected in such year would be elected for a two year term, so that the term of office of one class
of Directors shall expire in each year. Our officers serve at the discretion of the Board</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Set forth below is biographical information
about our current directors and executive officers other than the two Class I directors nominated for election. The biographic
information about the Class I directors is set forth above under the heading &ldquo;Proposal 1: Election of Directors -- Nominees
for Directors&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Zhenyong Liu. </I>On November 30, 2007,
Zhenyong Liu became a member of the Board of Directors and was appointed Chairman of the Board of Directors. Mr. Liu has also served
as the Company's Chief Executive Officer since November 16, 2007. Mr. Liu also serves as Chairman of Hebei Baoding Orient Paper
Milling Company Limited (HBOP), a position he has held since 1996. HBOP is a Variable Interest Entity (VIE) that has entered into
certain contractual agreements with Baoding Shengde. From 1990 to 1996, he served as Plant Director of Xinxin Paper Milling Factory.
Mr. Liu served as General Manager of Xushui Town Huandong electronic appliances procurement station from 1986 to 1990 and as Vice
Plant Director of Liuzhuang Casting Factory from 1982 to 1986.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Winston C. Yen</I>. Mr. Yen was appointed
as our Chief Financial Officer on May 1, 2009. Mr. Yen is a partner at ACCellence, LLP, a Los Angeles, California public accounting
firm that he founded in December 2005. Previously, he served as a partner of the accounting firm of Harry C. Lin, CPA, APC in City
of Industry, California from 2001 to 2005. Mr. Yen served as a manager at Moss Adams, LLP from 2000 to 2001 and was an audit/tax
supervising senior at CBIZ from 1997 to 1999. He received a Bachelor&rsquo;s degree in Accounting from the National Chengchi University
in Taiwan in 1990 and a Master&rsquo;s degree in Accounting Science from the University of Illinois at Urbana-Champaign in 1994.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Dahong Zhou</I>.&nbsp;&nbsp;Dahong Zhou
was appointed as our Secretary on November 16, 2007. Mr. Zhou also serves as Executive Manager of Hebei Baoding Orient Paper Milling
Company Limited, a position she has held since 2006.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 12; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->12<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Fuzeng Liu</I>. On November 30, 2007,
Fuzeng Liu became a member of the Board of Directors. Mr. Liu also serves as Vice General Manager of Hebei Baoding Orient Paper
Milling Company Limited, a position he has held since 2002. Previously, he was Deputy Secretary of Xushui Town Traffic Bureau from
1992 to 2002, Party Secretary of Xushui Town Dayin Village from 1988 to 1992, and Head of the Xushui Town Cuizhuang Village from
1984 to 1984. From 1977 to 1984, Mr. Liu served in committee office of Xushui Town. From 1970 to 1977, Mr. Liu served in the Pharmaceutical
Company of Xushui Town.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Zhaofang Wang</I>. Ms. Zhaofang Wang
was appointed as our director on October 28, 2009. Ms. Wang has been Director of Research and Development at China National Pulp
&amp; Paper Research Institute, a national research and higher education institution in the PRC, since November 2005. From October
1999 to October 2005, Ms. Wang served as Director of the Department of Urban Development with the Ministry of Housing and Urban-Rural
Development. Ms. Wang, a certified senior economist, received a bachelor&rsquo;s degree in economic management at Beijing University,
Guanghua School of Management.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;The Board believes that each of the Company&rsquo;s
directors is highly qualified to serve as a member of the Board. Each of the directors has contributed to the mix of skills, core
competencies and qualifications of the Board.&nbsp;&nbsp;When evaluating candidates for election to the Board, the Nominating Committee
seeks candidates with certain qualities that it believes are important, including integrity, an objective perspective, good judgment,
and leadership skills.&nbsp;&nbsp;Our directors are highly educated and have diverse backgrounds and talents and extensive track
records of success in what we believe are highly relevant positions.&nbsp;&nbsp;Some of our directors have served in our operating
entity, Hebei Baoding Orient Paper Milling Company Limited, for many years and benefit from an intimate knowledge of our operations
and corporate philosophy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Save as otherwise reported above, none of
our directors held directorships in other reporting companies and registered investment companies at any time during the past five
years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">There are no family relationships among our
directors or officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Involvement in Certain Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">To our knowledge, during the last ten years,
none of our directors and executive officers (including those of our subsidiaries) has:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Symbol">&middot;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Had a bankruptcy petition filed by or against any business of which such person was a general partner or executive officer either at the time of the bankruptcy or within two years prior to that time.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Symbol">&middot;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Been convicted in a criminal proceeding or been subject to a pending criminal proceeding, excluding traffic violations and other minor offenses.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Symbol">&middot;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Been subject to any order, judgment or decree, not subsequently reversed, suspended or vacated, of any court of competent jurisdiction, permanently or temporarily enjoining, barring, suspending or otherwise limiting his involvement in any type of business, securities or banking activities.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Symbol">&middot;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Been found by a court of competent jurisdiction (in a civil action), the SEC, or the Commodities Futures Trading Commission to have violated a federal or state securities or commodities law, and the judgment has not been reversed, suspended or vacated.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Symbol">&middot;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Been the subject to, or a party to, any sanction or order, not subsequently reverse, suspended or vacated, of any self-regulatory organization, any registered entity, or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons associated with a member.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<!-- Field: Page; Sequence: 13; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">There are no material proceedings to which
any director and executive officers of the Company is a party adverse to the Company or has a material interest adverse to the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>TRANSACTIONS WITH RELATED PERSONS, PROMOTERS
AND CERTAIN CONTROL PERSONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Mr. Zhenyong Liu is the director, principal stockholder and
chief executive officer of the Company. He loaned money to Orient Paper HB for working capital purposes over a period of time.
On August 31, 2009, Orient Paper, Orient Paper HB, and Mr. Liu entered into a tri-party Debt Assignment and Assumption Agreement,
under which Orient Paper agreed to assume the loan of $4,000,000 due from Orient Paper HB to Mr. Liu. Concurrently, Orient Paper
issued 1,204,341 shares of restricted common stock to Mr. Liu at the market price of $3.32132 per share. As of December 31, 2012
and 2011, net amount due to Mr. Liu were $2,315,239 and $2,299,312, respectively.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The unsecured loan of Mr. Liu is interest bearing and the interest
rate is equal to the rate established by the People&rsquo;s Bank of China, which was 5.85% and 5.85% per annum as of December 31,
2012 and 2011. The term is for 3 years and starts from January 1, 2010 and was due December 31, 2012. On January 1, 2013, Orient
Paper HB and Mr. Liu entered into another three-year term and extended the maturity date further to December 31, 2015. The unsecured
loan carries an annual interest rate based on the People&rsquo;s Bank of China at the time of the renewal and was set at 6.15%
per annum.&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On August 1 and August 5, 2008, two members
of the Board of Directors of Orient Paper HB loaned money to the Company for working capital purposes. The amounts owed bear interest
equals the rate established by the People&rsquo;s Bank of China and are due on July 31 and August 4, 2011, respectively. As of
December 31, 2010, the total loan amount payable was $2,041,804. The Company paid off the loan balance to both directors of Orient
Paper HB by August 4, 2011. The interest rates for both loans were 5.85% and 5.85% per annum before the payoff in year 2011.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The interest expenses incurred for above
related party loans are $135,377, $203,914 and $242,552 for the years ended December 31, 2012, 2011 and 2010, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On November 30, 2011, the Company borrowed
$200,000 from a shareholder to pay for various expenses incurred in the U.S. During the period, the Company further borrowed $1,030,097
from a shareholder to pay for various expenses incurred in the U.S. The amount is repayable on demand with interest free. The Company
repaid the entire balance by the end of fiscal year 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Company was informed in 2012 that a recent
Xushui County urban redevelopment plan mandates that the current site of its Headquarters Compound and neighboring area be reserved
for residential use only. It is expected that the Company, like other manufacturers in the affected area, be required eventually
to cease all operations currently conducted on the Headquarters Compound site. In order to comply with this government mandate,
the Company intends to initiate the process of relocating its offices and facilities to a new site. To that end, the Company has
entered into negotiations concerning the potential sale of this property and all of the buildings and facilities located thereon
(the &ldquo;Potential Sale&rdquo;) with Hebei Fangsheng Real Estate Development Co. Ltd. (&ldquo;Hebei Fangsheng&rdquo;), a real
estate development company 80% owned by Mr. Zhenyong Liu, our Chairman and Chief Executive Officer. There is currently no binding
agreement between us and Hebei Fangsheng in connection with the Potential Sale. In November 2012, Hebei Fangsheng provided the
Company with a payment of approximately $1,075,606 earnest money deposit payment to proceed with discussion, which would be refunded
to Hebei Fangsheng in the event that the parties fail to reach an agreement on the terms of the Potential Sale. The Company has
recorded the receipt of the earnest money deposit as a security deposit as of December 31, 2012 accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;<B>Procedures for Approval of Related
Party Transactions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Board is charged with reviewing and approving
all potential related party transactions.&nbsp;&nbsp;All such related party transactions must then be reported under applicable
SEC rules. We have not adopted other procedures for review, or standards for approval, of such transactions, but instead review
them on a case-by-case basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 14; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->14<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECTION 16(a) BENEFICIAL OWNERSHIP REPORTING
COMPLIANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Section 16(a) of the Securities Exchange
Act of 1934, as amended, requires our executive officers and directors and persons who own more than 10% of a registered class
of our equity securities to file with the Securities and Exchange Commission initial statements of beneficial ownership, reports
of changes in ownership and annual reports concerning their ownership of our common stock and other equity securities, on Form
3, 4 and 5 respectively.&nbsp;&nbsp;Executive officers, directors and greater than 10% shareholders are required by the Securities
and Exchange Commission regulations to furnish our company with copies of all Section 16(a) reports they file.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Based solely on our review of the copies
of such reports received by us, and on written representations by our officers and directors regarding their compliance with the
applicable reporting requirements under Section 16(a) of the Exchange Act, we believe that, with respect to the fiscal year ended
December 31, 2012, our officers and directors, and all of the persons known to us to own more than 10% of our common stock, filed
all required reports on a timely basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>DIRECTOR INDEPENDENCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The Company currently has three independent
directors, Drew Bernstein, Wenbing Christopher Wang, and Zhaofang Wang, as that term is defined under the NYSE Corporate Governance
Rules.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>MEETINGS AND COMMITTEES OF THE BOARD
OF DIRECTORS; ANNUAL MEETING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ATTENDANCE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;Our business, property and affairs are
managed by or under the direction of the Board.&nbsp;&nbsp;Members of the Board are kept informed of our business through discussion
with the Chief Executive Officer and Financial Officer and other officers, by reviewing materials provided to them and by participating
at meetings of the Board and its committees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;The Board has three committees - the
Audit Committee, the Compensation Committee and the Corporate Governance/Nominating Committee.&nbsp;&nbsp;The Audit Committee is
comprised of Drew Bernstein, Wenbing Christopher Wang and Zhaofang Wang, with Mr. Bernstein serving as Chairman.&nbsp;&nbsp;The
Compensation Committee is comprised of Drew Bernstein, Wenbing Christopher Wang and Zhaofang Wang, with Ms. Zhaofang Wang as Chairman.&nbsp;&nbsp;The
Nominating Committee is comprised of Drew Bernstein, Wenbing Christopher Wang and Zhaofang Wang, with Mr. Wenbing Christopher Wang
as Chairman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;The Audit Committee is involved in discussions
with our independent auditor with respect to the scope and results of our year-end audit, our quarterly results of operations,
our internal accounting controls and the professional services furnished by the independent auditor.&nbsp;&nbsp;The Board has determined
that both Mr. Drew Bernstein and Mr. Wenbing Christopher Wang qualify as Audit Committee financial experts and as having the accounting
or financial management expertise as required under NYSE Rule 303A.07(a).&nbsp;&nbsp;The Board has also determined that Mr. Bernstein
and Mr. Wang are independent directors as defined under the NYSE Corporate Governance Rules. The Board has adopted a written charter
for the Audit Committee which the Audit Committee reviews and reassesses for adequacy on an annual basis.&nbsp;&nbsp;A copy of
the Audit Committee&rsquo;s current charter is available on our website at: <U>http://www.orientpaperinc.com/images/Audit%20Committee%20Charter.pdf</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;The Compensation Committee oversees the
compensation of our Chief Executive Officer and our other executive officers and reviews our overall compensation policies for
employees generally.&nbsp;&nbsp;If so authorized by the Board, the committee may also serve as the granting and administrative
committee under any option or other equity-based compensation plans which we may adopt.&nbsp;&nbsp;The Compensation Committee does
not delegate its authority to fix compensation; however, as to officers who report to the Chief Executive Officer, the Compensation
Committee consults with the Chief Executive Officer, who may make recommendations to the Compensation Committee.&nbsp;&nbsp;Any
recommendations by the Chief Executive Officer are accompanied by an analysis of the basis for the recommendations.&nbsp;&nbsp;The
committee will also discuss compensation policies for employees who are not officers with the chief executive officer and other
responsible officers.&nbsp;&nbsp;&nbsp;A copy of the Compensation Committee&rsquo;s current charter is available for download at
our corporate website at:<U>http://www.orientpaperinc.com/images/Compensation%20Committee%20Charter.pdf</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<!-- Field: Page; Sequence: 15; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->15<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;The Nominating Committee is involved
in evaluating the desirability of and recommending to the board any changes in the size and composition of the board, evaluation
of and successor planning for the Chief Executive Officer and other executive officers.&nbsp;&nbsp;The qualifications of any candidate
for director will be subject to the same extensive general and specific criteria applicable to director candidates generally.&nbsp;&nbsp;A
copy of the Nominating Committee&rsquo;s current charter is available at our corporate website at:<U>http://www.orientpaperinc.com/images/Nominating%20Committee%20Charter.pdf</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;It is a policy of the Nominating Committee
that candidates for director (i) be determined to have unquestionable integrity and honesty, (ii) have the ability to exercise
sound, mature and independent business judgment that is in the best interests of the company and the stockholders as a whole, (iii)
have background and experience in fields that will complement the talents of the other members of the Board, (iv) have the willingness
and capability to take the time to actively participate in Board and committee meetings and related activities, (v) have the ability
to work professionally and effectively with other members of the Board and management, (vi) have the ability to remain on the Board
long enough to make a meaningful contribution, and (vii) have no material relationships with competitors or other third parties
that could create a reasonable likelihood of a conflict of interest or other legal issues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;When considering potential director-nominees,
the Nominating Committee also will consider the current composition of the Board and our evolving needs, including expertise, diversity
and balance of inside, outside and independent directors. Although we do not have a formal policy for the consideration of diversity
in identifying director-nominees, the Nominating Committee recognizes the benefits associated with a diverse board, and strives
to create diversity in perspective, background and experience in the Board as a whole when identifying and selecting director-nominees.
On an annual basis, as part of the Board&rsquo;s self-evaluation, the Board assesses whether the mix of Board members is appropriate
for our Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;In compiling its list of possible candidates
and considering their qualifications, the Nominating Committee will make its own inquiries, solicit input from other directors
on the Board, and may consult or engage other sources, such as a professional search firm, if it deems appropriate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;Stockholders who wish to recommend individuals
for consideration by the Nominating Committee to become nominees for election to the Board at our 2014 Annual Meeting of Stockholders
may do so by submitting a written recommendation to the Nominating Committee, Orient Paper, Inc., Science Park, Juli Road, Xushui
County, Baoding City, Hebei Province, People&rsquo;s Republic of China 072550, Attention: Secretary, in accordance with the procedures
set forth below in this proxy statement under the heading &ldquo;Stockholder Proposals.&rdquo; For nominees for election to the
Board proposed by stockholders to be considered, the following information concerning each nominee must be timely submitted in
accordance with the required procedures:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">&bull;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">The candidate&rsquo;s name, age, business address, residence address, principal occupation or employment, the class and number of shares of our capital stock the candidate beneficially owns, a brief description of any direct or indirect relationships with us, and the other information that would be required in a proxy statement soliciting proxies for the election of the candidate as a director;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">&bull;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">A signed consent of the nominee to being named as a nominee, to cooperate with reasonable background checks and personal interviews and to serve as a director, if elected; and</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Times New Roman, Times, Serif">&bull;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">As to the stockholder proposing such nominee, that stockholder&rsquo;s name and address, the class and number of shares of our capital stock the stockholder beneficially owns, a description of all arrangements or understandings between the stockholder and the candidate and any other person or persons (including their names) pursuant to which the recommendation is being made, a list of all other companies to which the stockholder has recommended the candidate for election as a director in that fiscal year, and a representation that the stockholder intends to appear in person or by proxy at the meeting to nominate the person named in its notice.</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 16; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->16<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Board Meetings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;The board and its committees held the
following number of meetings during 2012:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
    <TD STYLE="width: 33%; padding-left: 0; padding-right: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">Board of Directors</font></td>
    <TD STYLE="width: 67%; padding-right: 0; padding-left: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">10</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-left: 0; padding-right: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">Audit Committee</font></td>
    <TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">5</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-left: 0; padding-right: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">Compensation Committee</font></td>
    <TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">2</font></td></tr>
<tr style="vertical-align: top">
    <TD STYLE="padding-left: 0; padding-right: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">Nominating Committee</font></td>
    <TD STYLE="padding-right: 0; padding-left: 0; text-indent: 0"><font style="font: 10pt Times New Roman, Times, Serif">1</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&#9;The meetings include
meetings that were held by means of a conference telephone call, but do not include actions taken by unanimous written consent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">&#9;With the exception
of two directors, each director attended at least 75% of the total number of meetings of the board and those committees on which
he served during the year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BOARD LEADERSHIP STRUCTURE AND ROLE IN
RISK OVERSIGHT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;Mr. Zhenyong Liu is our chairman and
chief executive officer.&nbsp;&nbsp;At the advice of other members of the management or the Board, Mr. Liu calls meetings of the
Board of Directors when necessary.&nbsp;&nbsp;We have three independent directors, led by the Chairman of the audit committee Mr.
Drew Bernstein.&nbsp;&nbsp;The Board has three standing committees, each of which is comprised solely of independent directors
with a committee chair.&nbsp;&nbsp;The Board believes that the Company&rsquo;s chief executive officer is best situated to serve
as chairman of the Board because he is the director most familiar with our business and industry and the director most capable
of identifying strategic priorities and executing our business strategy.&nbsp;&nbsp;In addition, having a single leader eliminates
the potential for confusion and provides clear leadership for the Company.&nbsp;&nbsp;We believe that this leadership structure
has served the Company well. The Board has overall responsibility for risk oversight.&nbsp;&nbsp;The Board has delegated responsibility
for the oversight of specific risks to Board committees as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 24px">&nbsp;</td>
    <td style="width: 24px"><font style="font: 10pt Symbol">&middot;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">The Audit Committee oversees the Company&rsquo;s risk policies and processes relating to the financial statements and financial reporting processes, as well as key credit risks, liquidity risks, market risks and compliance, and the guidelines, policies and processes for monitoring and mitigating those risks.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td>&nbsp;</td>
    <td>&nbsp;</td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font: 10pt Symbol">&middot;</font></td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">The Nominating Committee oversees risks related to the company&rsquo;s governance structure and processes.&nbsp;</font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;The Board is responsible to approve all
related party transactions according to our Code of Ethics. We have not adopted written policies and procedures specifically for
related person transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STOCKHOLDER COMMUNICATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Stockholders who wish to communicate with
the Board or with specified members of the Board should do so by sending any communication to Orient Paper, Inc., Science Park,
Juli Road, Xushui County, Baoding City, Hebei Province, People&rsquo;s Republic of China 072550; Attention: Secretary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Any such communication should state the
number of shares beneficially owned by the shareholder making the communication. Our Secretary will forward such communication
to the full Board or to any individual member or members of the Board to whom the communication is directed, unless the communication
is unduly hostile, threatening, illegal or similarly inappropriate, in which case the Secretary has the authority to discard the
communication or take appropriate legal action regarding the communication.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 17; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->17<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CODE OF ETHICS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have adopted a code of ethics to apply
to our principal executive officer, principal financial officer, principal accounting officer and controller, or persons performing
similar functions. The Code of Ethics is currently available on our website at <U>www.orientpaperinc.com</U>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>BOARD OF DIRECTORS COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table
sets forth a summary of compensation paid or entitled to our directors&nbsp;during the fiscal years ended December 31, 2012, December
31, 2011 and December 31, 2010:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Non-Equity</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Incentive</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stock</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Option</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Plan</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>Name and</b></font></td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Salary</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Bonus</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Awards</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Awards</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Compen-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>Principal Position</b></font></td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Year</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>sation($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="width: 17%"><font style="font: 10pt Times New Roman, Times, Serif">Fuzheng Liu </font><br>
<font style="font: 10pt Times New Roman, Times, Serif">Director</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 10%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2012</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="width: 4%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,297</font></td>
    <TD STYLE="width: 4%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,297</font></td>
    <TD STYLE="width: 1%">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2011</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,949</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,949</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2010</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,665</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,665</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Drew Bernstein</font><br>
<font style="font: 10pt Times New Roman, Times, Serif">Director</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2012</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">54,351</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">74,351</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2011</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">24,375</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">44,375</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2010</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">47,700</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">67,700</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Wenbing Christopher Wang Director</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2012</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">38,601</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">58,601</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2011</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">13,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">33,000</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2010</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">20,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">25,440</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">25,440</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Zhaofang Wang</font><br>
<font style="font: 10pt Times New Roman, Times, Serif">Director</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2012</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,922</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,922</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2011</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,747</font></td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">7,747</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,747</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2010</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,376</font></td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">7,376</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,376</font></td>
    <TD>&nbsp;</td></tr>
<tr>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Effective October 28, 2009, the Company entered
into an appointment letter with Drew Bernstein.&nbsp;&nbsp;Pursuant to the agreement, Mr. Bernstein was appointed our director
and shall receive an annual salary of $20,000, payable on a monthly basis.&nbsp;&nbsp;Mr. Bernstein shall also receive 7,500 shares
of common stock with piggyback registration rights subordinate to any investors in any past or present private placement of securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Effective October 28, 2009, the Company entered
into an appointment letter with Wenbing Christopher Wang. Pursuant to the agreement, Mr. Wang was appointed our director and shall
receive an annual salary of $20,000, payable on a monthly basis.&nbsp;&nbsp;Mr. Wang shall also receive 4,000 shares of common
stock, which represents $20,000 divided by the closing price of the common stock on October 28, 2009, with piggyback registration
rights subordinate to any investors in any past or present private placement of securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Effective October 28, 2009, the Company entered
into an appointment letter with Zhaofang Wang. Pursuant to the agreement, Ms. Wang was appointed our director and shall receive
an annual salary of RMB 50,000, payable on a monthly basis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">On January 11, 2012 the Company awarded two
of its independent directors Messrs. Drew Bernstein and Wenbing Christopher Wang 22,275 and 15,820 shares of restricted common
stock, respectively. These shares of common stock are issued out of the 2011 Incentive Stock Program and are valued at $3.45 per
share, based on the closing price on the date of the stock issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Other than the appointment letters described
above, there are no understandings or arrangements between Mr. Bernstein, Mr. Wang, or Ms. Wang and any other person pursuant to
which Mr. Bernstein, Mr. Wang, or Ms. Wang was appointed as a director. Mr. Bernstein, Mr. Wang, and Ms. Wang do not have any family
relationship with any director, executive officer or person nominated or chosen by us to become a director or executive officer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<!-- Field: Page; Sequence: 18; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->18<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF THE AUDIT COMMITTEE OF THE
BOARD OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee, on behalf of the Board,
serves as an independent and objective party to monitor and provide general oversight of the integrity of our financial statements,
our independent registered public accounting firm&rsquo;s qualifications and independence, the performance of our independent registered
public accounting firm, our compliance with legal and regulatory requirements and our standards of business conduct. The Audit
Committee performs these oversight responsibilities in accordance with its Audit Committee Charter.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Our management is responsible for preparing
our financial statements and our financial reporting process. Our independent registered public accounting firm is responsible
for expressing an opinion on the conformity of our audited financial statements to generally accepted accounting principles in
the United States of America. The Audit Committee met with our independent registered public accounting firm, with and without
management present, to discuss the results of their examinations and the overall quality of our financial reporting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In this context, the Audit Committee has
reviewed and discussed our audited financial statements for the year ended December 31, 2012 with management and with our independent
registered public accounting firm. The Audit Committee has discussed with our independent registered public accounting firm the
matters required to be discussed by Statement on Auditing Standards No. 61 (Communications with Audit Committees), which includes,
among other items, matters related to the conduct of the audit of our annual financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee has received the written
disclosures and the letter from the independent registered public accounting firm required by applicable requirements of the Public
Company Accounting Oversight Board regarding such independent registered public accounting firm's communications with the Audit
Committee concerning independence, and has discussed with the independent registered public accounting firm its independence from
us and our management. In addition, the Audit Committee has considered whether the provision of non-audit services by our independent
registered public accounting firm in 2012 was compatible with maintaining our registered public accounting firm&rsquo;s independence
and has concluded that it was.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Based on its review of the audited financial
statements and the various discussions noted above, the Audit Committee recommended to the Board that our audited financial statements
be included in our Annual Report on Form 10-K for the year ended December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each of the members of the Audit Committee
is independent as defined under the standards of the Commission and NYSE Corporate Governance Rules, and Drew Bernstein qualifies
as an Audit Committee financial expert in accordance with the requirements of the NYSE Corporate Governance Rules and of such rules
of the Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Respectfully submitted by the Audit Committee,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Drew Bernstein, Chairman</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Wenbing Christopher Wang</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Zhaofang Wang</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The foregoing Audit Committee Report does
not constitute soliciting material and shall not be deemed filed or incorporated by reference into any other filing of our company
under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;), or the Exchange Act, except to the extent we specifically
incorporate this Audit Committee Report by reference therein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMPENSATION COMMITTEE REPORT OF EXECUTIVE
COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Compensation Committee has reviewed
the Compensation Discussion and Analysis required by Item 402(b) of Regulation S-K and discussed that analysis with management.&nbsp;
Based on its review and discussions with management, the Compensation Committee recommended to the Board that the Compensation
Discussion and Analysis be included in this Proxy Statement and incorporated by reference into the Company&rsquo;s annual report
on Form 10-K for the fiscal year ended December 31, 2012.&nbsp; This report is provided by the following independent directors,
who comprise the Compensation Committee:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Zhaofang Wang (Chairman)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Drew Bernstein</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Wenbing Christopher Wang</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 19; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->19<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>COMPENSATION COMMITTEE INTERLOCKS AND
INSIDER PARTICIPATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">The members of the Compensation Committee
during the fiscal year ended December 31, 2012 were Drew Bernstein, Wenbing Christopher Wang and Zhaofang Wang, with Ms. Zhaofang
Wang serving as its chairman. None of our members of the Compensation Committee during the fiscal year ended December 31, 2012
served as an officer or employee of the Company, was formerly an officer of the Company, or had any relationship requiring disclosure
required by Item 404 of Regulation S-K. &nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXECUTIVE COMPENSATION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Summary Compensation Table</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 27pt">The following summary
compensation table indicates the cash and non-cash compensation earned during the years ended December&nbsp;31, 2012, 2011 and
2010 by each person who served as principal executive officer, principal financial officer, and secretary during 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Non-Equity</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Incentive</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stock</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Option</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Plan</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>Name and</b></font></td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Salary</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Bonus</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Awards</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Awards</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Compensation</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom">
    <TD><font style="font: 10pt Times New Roman, Times, Serif"><b>Principal Position</b></font></td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Year</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&nbsp;<b>($)</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>($)</b></font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD STYLE="width: 16%"><font style="font: 10pt Times New Roman, Times, Serif">Zhenyong Liu, </font><br>
<font style="font: 10pt Times New Roman, Times, Serif">Chairman, CEO</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2012</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">32,135</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">108,155</font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%">&nbsp;</td>
    <TD STYLE="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">140,290</font></td>
    <TD STYLE="width: 1%">&nbsp;</td></tr>
<tr style="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2011</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">37,184</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="vertical-align: top; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">37</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
<tr style="background-color: #CCFFCC">
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2010</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">35,405</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td>
    <TD STYLE="vertical-align: bottom"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="vertical-align: top; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">37</font></td>
    <TD STYLE="vertical-align: bottom">&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Winston C. Yen </font><br>
<font style="font: 10pt Times New Roman, Times, Serif">CFO</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2012</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">120,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">66,278</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">186,278</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2011</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">120,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">16,250</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">136,250</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2010</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">120,000</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">37,425</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">157,425</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: white">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right">&nbsp;</td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD><font style="font: 10pt Times New Roman, Times, Serif">Dahong Zhou, Secretary</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2012</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,604</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,604</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2011</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,090</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,090</font></td>
    <TD>&nbsp;</td></tr>
<tr style="vertical-align: bottom; background-color: #CCFFCC">
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2010</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,895</font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>-</b></font></td>
    <TD>&nbsp;</td>
    <TD>&nbsp;</td>
    <TD><font style="font: 10pt Times New Roman, Times, Serif">$</font></td>
    <TD STYLE="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,895</font></td>
    <TD>&nbsp;</td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;<B>Employment Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On May 1, 2009, the Company entered into
a Loanout Agreement with Winston C. Yen, CPA, a Professional Accountancy Corporation (&ldquo;Lender&rdquo;), for the services of
Lender&rsquo;s employee, Winston C. Yen, as Chief Financial Officer, for a term of one year.&nbsp;&nbsp;Pursuant to the agreement,
Mr. Yen shall receive an annual salary of $36,000 for up to 80 hours of work per month, subject to adjustment for additional compensation
of $2,000 per month during any calendar month when certain road show services are performed.&nbsp;&nbsp;Mr. Yen shall also receive
up to an aggregate of 5,000 shares of common stock of the Company during the term of the agreement as follows.&nbsp;&nbsp;The shares
shall vest, and be issued, on a quarterly basis at the rate of 1,250 shares every three calendar months, with the first installment
to vest on May 10, 2009.&nbsp; The shares shall be subject to an 18 month lock-up period from the date of issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On April 21, 2010, the Company renewed the
Loanout Agreement for a period of one year from the date of renewal and amended the Agreement to include the followings: (i) Mr.
Yen&rsquo;s workload extends from 80 hours per month to 40 hours per week, (ii) effective January 1, 2010, his annual cash compensation
was increased to $120,000, and (iii) shares compensation remains 5,000 shares per year, vested quarterly, and is subject to a lock-up
period of one year. The Loanout Agreement expired without any written renewal, but the Company and the Lender agreed to continue
the terms of the Loanout Agreement until either party terminates the relationship.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 20; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On January 11, 2012 the Company awarded
its CEO Mr. Zhenyong Liu and CFO Mr. Winston C. Yen 44,326 and 27,163 shares of restricted common stock, respectively. These shares
of common stock are issued out of the 2011 Incentive Stock Program and are valued at $3.45 per share, based on the closing price
on the date of the stock issuance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OUTSTANDING EQUITY AWARDS AT 2012 FISCAL
YEAR-END</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">There were no option exercises in fiscal
year of 2012 or options outstanding as of December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Pension and Retirement Plans</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">Currently, except for contributions to the
PRC government-mandated social security retirement endowment fund for those employees who have not waived their coverage, we do
not offer any annuity, pension or retirement benefits to be paid to any of our officers, directors or employees. There are also
no compensatory plans or arrangements with respect to any individual named above which results or will result from the resignation,
retirement or any other termination of employment with our company, or from a change in our control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

<!-- Field: Page; Sequence: 21; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->21<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROPOSAL 2:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>RATIFICATION OF APPOINTMENT OF INDEPENDENT
REGISTERED PUBLIC ACCOUNTING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FIRM</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee has selected the firm
of BDO China Shu Lun Pan CPAs LLP (&ldquo;BDO China&rdquo;), an independent registered public accounting firm, as our auditors
for the fiscal year ending December 31, 2013, subject to ratification of such selection by our stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">In the event that ratification of this appointment
of our independent registered public accounting firm is not approved by the affirmative vote of a majority of votes cast on the
matter, the appointment of our independent registered public accounting firm will be reconsidered by the Board. Unless marked to
the contrary, proxies received will be voted for ratification of the appointment of BDO Limited as our independent registered public
accounting firm for the fiscal year ending December 31, 2013.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Representatives of BDO China are not expected
to be present at the Annual Meeting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Audit Fees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We incurred approximately $285,189 for professional
services rendered by our registered independent public accounting firm of BDO China for the integrated audit of the Company for
2012. Further, in 2012, we incurred approximately $109,323 for the quarterly reviews of the Company by BDO China.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Audit-Related Fees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Orient Paper incurred a $22,000 fee payable to BDO Limited for
their issuance of a comfort letter in connection with the public offering closed on March 31, 2010. No such fees incurred in 2011
and 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Tax Fees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Orient Paper incurred approximately nil
in fees to ACCellence, LLP, which is controlled by the Company&rsquo;s chief financial officer, for tax compliance or tax consulting
services during the year ended December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>All Other Fees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Orient Paper did not incur any fees from its registered independent
public accounting firm for services rendered to Orient Paper, other than the services covered in &quot;Audit Fees&quot; and &ldquo;Audit-Related
Fees&rdquo; for the fiscal year ended December 31, 2012.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Pre-Approval Policies and Procedures</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Audit Committee pre-approves all audit
and non-audit services performed by&nbsp;the Company&rsquo;s auditor and the fees to be paid in connection with such services in
order to assure that the provision of such services does not impair the auditor&rsquo;s independence.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">With respect to the Company&rsquo;s auditing
and other non-audit related services rendered by its registered independent public accounting firm for the years ended December
31, 2011 and 2012, all engagements were entered into pursuant to the Audit Committee&rsquo;s pre-approval policies and procedures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Vote Required and Board of Directors&rsquo; Recommendation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Assuming a quorum is present, the affirmative
vote of a majority of the votes cast at the Annual Meeting, either in person or by proxy, is required for approval of this proposal.
For purposes of the ratification of our independent registered public accounting firm, abstentions will have the same effect as
a vote against this proposal and broker non-votes will have no effect on the result of the vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 22; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->22<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>The Board recommends a vote FOR ratification of the appointment
of BDO China as our independent registered public accounting firm for the fiscal year ending December 31, 2013.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STOCKHOLDER PROPOSALS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&#9;Proposals by any stockholders intended
to be presented at the next Annual Meeting of Stockholders must be received by the Company for inclusion in material relating to
such meeting not later than May 28, 2014.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;&nbsp;&nbsp;Stockholders<FONT STYLE="background-color: white">
who wish to present proposals for inclusion in the Company&rsquo;s proxy materials for the 2014 Annual Meeting of Stockholders
may do so by following the procedures prescribed in Rule&nbsp;14a-8 under the Securities Exchange Act of 1934, as amended. To be
eligible, the shareholder proposals must be received by our Secretary at our principal executive office on or before March 22,
2014. Under SEC rules, you must have continuously held for at least one year prior to the submission of the proposal (and continue
to hold through the date of the meeting) at least $2,000 in market value, or 1%, of our outstanding stock in order to submit a
proposal which you seek to have included in the Company&rsquo;s proxy materials. We may, subject to SEC review and guidelines,
decline to include any proposal in our proxy materials.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt">&nbsp;&nbsp;<FONT STYLE="background-color: white">Stockholders
who wish to make a proposal at the 2014 Annual Meeting, other than one that will be included in our proxy materials, must notify
us no later than June 5, 2014. If a shareholder who wishes to present a proposal fails to notify us by June 5, 2014, the proxies
that management solicits for the meeting will confer discretionary authority to vote on the shareholder&rsquo;s proposal if it
is properly brought before the meeting.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>OTHER BUSINESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">While the accompanying Notice of Annual
Meeting of Stockholders provides for the transaction of such other business as may properly come before the Annual&nbsp;Meeting,
the Company has no knowledge of any matters to be presented at the Annual Meeting other than those listed as Proposals 1, 2, and
3 in the notice. However, the enclosed Proxy gives discretionary authority in the event that any other matters should be presented.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ANNUAL REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Upon written request to Ms. Dahong Zhou,
Secretary, Orient Paper, Inc., Science Park, Juli Road, Xushui County, Baoding City, Hebei Province, People&rsquo;s Republic of
China 072550, we will provide without charge to each person requesting a copy of our 2012 Annual Report, including the financial
statements filed therewith. We will furnish a requesting stockholder with any exhibit not contained therein upon specific request.
In addition, this Proxy Statement, as well as our 2012 Annual Report, is available on our Internet website at <I>www.orientpaperinc.com</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
    <td style="width: 50%">&nbsp;</td>
    <td style="width: 50%"><font style="font: 10pt Times New Roman, Times, Serif">By Order of the Board of Directors.</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif">Zhenyong Liu</font></td></tr>
<tr style="vertical-align: top">
    <td>&nbsp;</td>
    <td><font style="font: 10pt Times New Roman, Times, Serif"><i>Chairman and Chief Executive Officer</i></font></td></tr>
</table>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Hebei Province, PRC</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">September 23, 2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


<!-- Field: Page; Sequence: 23; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->23<!-- Field: /Sequence --></TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>



<P STYLE="margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B><U>PROXY CARD</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>ORIENT PAPER, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROXY FOR THE 2013 ANNUAL MEETING OF
STOCKHOLDERS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>THIS PROXY IS SOLICITED BY THE BOARD
OF DIRECTORS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; border: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; font-size: 10pt">Important Notice Regarding the Availability of Proxy Materials for the Stockholder Meeting to be Held on October 31, 2013: The Proxy Statement and Annual Report to Stockholders are available at www.orientpaperinc.com.</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The undersigned hereby appoints Zhenyong Liu with full power
of substitution, as proxy of the undersigned to attend the Annual Meeting of Stockholders (the &ldquo;Annual Meeting&rdquo;) of
ORIENT PAPER, INC. (the &ldquo;Company&rdquo;), to be held on October 31, 2013 at 10:00 a.m. local time at Beijing Riverside Hotel,
No. 15 Shejichang Road, Fengtai District, Beijing, People&rsquo;s Republic of China, 100072, and any postponement or adjournment
thereof, and to vote as if the undersigned were then and there personally present on all matters set forth in the Notice of Annual
Meeting, dated September 23, 2013 (the &ldquo;Notice&rdquo;), a copy of which has been received by the undersigned, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">1.</TD><TD><B>THE ELECTION OF TWO DIRECTORS IN CLASS I TO SERVE ON THE BOARD OF DIRECTORS OF THE COMPANY, WITH SUCH CLASS I DIRECTORS
TO SERVE UNTIL THE 2015 ANNUAL MEETING OF STOCKHOLDERS AND UNTIL THEIR RESPECTIVE SUCCESSORS HAVE BEEN DULY ELECTED AND QUALIFIED
OR UNTIL HIS EARLIER RESIGNATION, REMOVAL OR DEATH.</B> (Check one)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">FOR all nominees listed below (except as indicated).
<FONT STYLE="font: 10pt Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">WITHHOLD AUTHORITY to vote for all nominees listed
below.<FONT STYLE="font-size: 10pt"> <FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">If you wish to withhold your vote for any individual
nominee, strike a line through that nominee&rsquo;s name set forth below:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-left: 0.5in; font-size: 10pt">Drew Bernstein</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.5in; font-size: 10pt">Wenbing Christopher Wang</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><B>2.</B></TD><TD><B>THE RATIFICATION OF APPOINTMENT OF BDO CHINA SHU LUN PAN CPAS LLP AS THE INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM OF
THE COMPANY FOR THE FISCAL YEAR ENDING DECEMBER 31, 2013: (Check one)</B></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">FOR the proposal.<FONT STYLE="font-size: 10pt"> <FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">AGAINST the proposal.<FONT STYLE="font-size: 10pt">
<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">ABSTAIN AUTHORITY to vote for the proposal.<FONT STYLE="font-size: 10pt">
<FONT STYLE="font-family: Wingdings">&uml;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>NOTE: IN HIS DISCRETION, THE PROXY HOLDER IS AUTHORIZED TO
VOTE UPON SUCH OTHER MATTER OR MATTERS THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING AND ANY ADJOURNMENT(S) THEREOF. </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">THIS PROXY WILL BE VOTED IN ACCORDANCE WITH THE SPECIFIC INDICATION
ABOVE. IN THE ABSENCE OF SUCH INDICATION, THIS PROXY WILL BE VOTED FOR ALL OF THE BOARD&rsquo;S NOMINEES FOR ELECTION TO THE BOARD
OF DIRECTORS, FOR THE RATIFICATION OF THE APPOINTMENT OF BDO CHINA SHU LUN PAN CPAS LLP AS THE COMPANY&rsquo;S INDEPENDENT REGISTERED
PUBLIC ACCOUNTING FIRM FOR THE FISCAL YEAR ENDING DECEMBER 31, 2013, AND, AT THE DISCRETION OF THE PROXY HOLDER, ON ANY OTHER MATTERS
THAT MAY PROPERLY COME BEFORE THE ANNUAL MEETING OR ANY POSTPONEMENT OR ADJOURNMENT THEREOF.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; padding-right: 0; padding-left: 0">Dated:&nbsp;&nbsp;_______________________________</TD>
    <TD STYLE="width: 50%; border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Signature of Stockholder</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">PLEASE PRINT NAME</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Certificate Number(s)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">Total Number of Shares Owned</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Sign exactly as your name(s) appears on your stock certificate(s).
A corporation is requested to sign its name by its President or other authorized officer, with the office held designated. Executors,
administrators, trustees, etc., are requested to so indicate when signing. If a stock certificate is registered in two names or
held as joint tenants or as community property, both interested persons should sign.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>PLEASE COMPLETE THE FOLLOWING</U>: </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">I plan to attend the Annual Meeting (Circle one): Yes No</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Number of attendees: ____________</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B><U>PLEASE NOTE</U></B>:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">STOCKHOLDER SHOULD SIGN THE PROXY PROMPTLY AND RETURN IT IN
THE ENCLOSED ENVELOPE AS SOON AS POSSIBLE TO ENSURE THAT IT IS RECEIVED BEFORE THE ANNUAL MEETING. PLEASE INDICATE ANY ADDRESS
OR TELEPHONE NUMBER CHANGES IN THE SPACE BELOW.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PLEASE RETURN THIS PROXY CARD TO:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Empire Stock Transfer, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">1859 Whitney Mesa Drive</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Henderson, NV 89014</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

<!-- Field: Page; Sequence: 24; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font-size: 10pt"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="margin: 0"></P>

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>2
<FILENAME>logo.jpg
<DESCRIPTION>GRAPHIC
<TEXT>
begin 644 logo.jpg
M_]C_X``02D9)1@`!`@``9`!D``#_[``11'5C:WD``0`$````9```_^X`#D%D
M;V)E`&3``````?_;`(0``0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0("`@("`@("`@("`P,#`P,#`P,#`P$!`0$!`0$"`0$"
M`@(!`@(#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#`P,#
M`P,#`P,#`P,#_\``$0@`D`#Q`P$1``(1`0,1`?_$`-D```$#!`,!````````
M```````("0H!`@,'!`4&"P$!```'`0$```````````````$"`P0%!@<("1``
M``4#`P(#!`4'!0P'"0```0(#!`41!@<`$@@A"3$B$T%1%`IA,B,5%G&!D4)2
MDE.ATN*3%\'18G*",],DU5@9&O!#-%3&-QADE"4FUE>'ER@1``$"!`,$!08*
M!@<'!0````$``A$#!`4A$@8Q05$'87$B$Q3P@9'!,B.AL='A\4)B@A464G*2
MTM,(HK+B,T-4%Y,D-&25)E?"4V-S=?_:``P#`0`"$0,1`#\`G\:(C1$:(L-!
M`!I[_P"[J8.8XP!!4P(=[0P7`5<@"ADSG(425$Q04J<HG`11$2C3:!PZ^.JH
MD%[<P!Q\BJ,^OI*/^\(!\WRA!'9!235*)#(G-MW`4P#N*.P1H(^&_P"C5"HI
MW3)C99!PQ/E!3TDYE?*=.EF+8F'4/2F>^7W/OD?@GF7A+CWC/!*%]8UR"O89
M+RR.Z@+ND$;:+>=Y*VNY*@]AWS>,0/`M6_Q;@52*`5-=.H!UKN]+I^346$W,
M9Q,:XM(PAACPX$;UR"HU?,DZK%D):6D_)]K;YD\<Q6%=LFH)2E$:E':!P(82
MB)1.0%"$.!#"%0J'A[]:,QA8W*=H78,N0!IVP7+U,BPJ`(B-!ZT#IU_3TU,2
M&L)Z"IV.9'*8172O)%9DH"/^KF.J@99+<I57[!5,%@%N8Z0B3TS]#[P`#>(:
MA1#Q4S*3V?+K5A=[C)H)'>#V\<,/E"0#QG[E^!^5V9,@X.Q>SOI.\\;(2BUP
M+W%;[*.A3_=,NI#.RL'"$Z[5=!\2D.T=I*ZS=PM3[>\2YL.TT.$.!\P6E6C5
MTJ[3BR027!Q&[=M^L=R<236,H<P"!0`!#:`".Z@E`:'*(`!3`/N$0U@)[8-7
M1&=J6'\0LZ9MV[Z!_N:EE"`5!C\Y/05EU551&B(T1&B(T1&B(T1&B(T1&B(T
M1&B(T1&B(T1&B(T1&B(T1&B+JC.E$Q4+5!10ASE,0#&+M$X[FY3;N@"*0U-_
M)JPFRC3-,VD+ICR=AX[_`&>GX%.9DAC??.RF/1ZTWUW&T^4SSCU*)\.7CAKF
MY6[;35C%&B4>H0T.5RNG+%5._352!N1$A1$W3Q]VNA:(E4E14R_S#DE4H:[-
MP&P_6WKB?,>Y5S)+A8LTVH+@1MQVCZL=^R"V7PO0SRTXQXT2Y..O7S@=D[+?
M8J_#IG4E5)N2*Q`#M"`S4469J(!]D4I`*`=*U'6)N8I95YJ32$NI1-(83O;A
M`X;!!;UH.NG#3DL5#2RY=WBV9%K<_`$XD1WI"/+:'[D3GF;A23X]@X)QQ;_@
M!3*K-DK"%(!4KSE7%S#\5*LCN3`^@VC=%8$J&3)U)0PUUNMNN&G6V$TM483W
M.=VB!F$!L&,(8[^*X77:=UW3\QQ>JN3*-A!&,I[GG$MW98;1QX)YHDBY;QZ2
M_I$.8J93+)'6.*A%%#$`2@JI3>FF8XA7W!TUS"6#/N4RF9#N&['<<(]2]/NK
MJ`TQKGN<RG(BW,`TPZ03@>I-7Q'=5B9CG\]X'-\.S99QG(R##^T%6=:IPJOW
M?'IOUEB1PM#.#);5``IO4H<:TI36Z3]*TTBR-NKISN]<P.RX<<>G9L7(:77^
MI:W5_P"#4E%3OLH>6F;&9GX#9%FW:8[$ZVDY7,9954FP"&22*!0-M.(_6.01
M$=Z=#A0WAK2JN;2R)(&8P,>$5V3P8-5G:XP+`88;<8IFCFMDON-6IRZQ#:/'
M2S)2;XZS,=;!\E3[.QH>XVD>Y?WV9A.%6G'[I%Y'O&]L;%023(9,I:'ZB(AK
MI&E-/:--AFW.MKY[;NUKBV3[K(2`2-O:AU+@VM[KK&HOK++24THVYS@"^,S-
ME)QV`MV)?^).'W'3$=VW)D3&&,+2LJ][L$P7)/PD2S;2;\5W!G;LCP2"H0HN
MG!A.<``*B-?'6DUFH)EVF%SLKC*]W$='5MZUNNGN7=+8/?\`>S^\F=J#H0$=
ML,(XI4Y&Q2*'4`Z@[MM"&-4A-I=M"!3R@/MUBW]L92NBA\)8E@"`"S$(!-U!
M$=PU&NH-&405!DL2R2-Y5^HJHC1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(
MC1$:(C1$:(C1%X:9,J":M5?2,:2,B10P`F43JL3D1*8P5J%3``"/B.J&F<^>
M8:S$!^$>$?D6H:R95NI0*(PF'?PBTP]!@FB.WMQ<YQXAY!9OOSDYD]&\\:W6
MUDRX[M]*ZI";&"%:YGC]D4(MPD1)F5&.6*GM`U"E``UO=_K+<*8,M\,\8F`/
M#%:AH>PU\^H+[K&`!P,(;3#AOQ75<T.6J6:29!X3<0<M+17-AG=$2$;$D<FM
MT\0A9\G#7)=I4IIRFJTHC;.\X[=P;3T$?'69IM(U4F@9=[DV5+MTR2'9L[2X
MD[.S&,2<(+2><>O!=)0TMRQF3!JJEFMEORATL!S2,PSO:6F&V(2UN"UE<D;'
MXP6/;/*:YG-SYK8+SBMW3;V8:W*L]0<ST@X@_P#XNT*BV6*VA5&P`!"^40$H
M]2B.M*N-)2.F]S(?&48[M_5YEU3E<-66[2;)G,9Y?6Y08E[9AA#'V`%T'<!Y
M1W%Q`X[R&9(&SQR*_C[MMB%+:_J/DU',5.BJV>.4BQ+1Z](9B9L!@JF)1W#4
M0#KJI9*.6RL[@8F&/05:\T:\S=,2:FP,!@89,6AP).V.(A`+PO%KD!A_)F#,
M8<K<IV7BG"%]9"<S*0/)Y2!B9M)T0R[9PW2N2XT(Z4=NEF"/JF3J!RD`>E-9
M:]^,E3#1%\R9(R-@-S=NP!4^6MTM5-8"^M;+E7!Q,0"=Q$<8KVW,_GSC?@]B
M6T\NW?`R]]6;=]T1EL0RMHR$,GZPR<$_FH^02>3#YG'KM7+6,,8@D5$!*8!"
MNL7;-)F[RW2X-=.:(XP&T])'3YU+=M>S;94EX:722\@0S##KRG$8>E;OL7DG
M85Y\?K7Y*S:OX$L6Y,=,L@?$W&\9B:(AI*.+*(&>+M%EF@G01,`[BB8M0\=4
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M`](1\47W#^ZK_HM,HZ?0G<S>`](76G2*H=43F(<BI?,F=NH8OJ$-5%7J7H9,
MO3Z?'IJ,P9FP82UW&$5,^1WC<LQC2/UOG5!3$H',D9--<Q1(54$5O*45?4-Y
M1(-1,'0>OTZFE$M_O7.>.J'Q*FVE[LQE,:W[P/K3&O.C'.*N!LS-=P3#V"%\
MD\DYN^E(UTHI<]QE3!"]X\EOW"]+$MG+ML1/[H+02$;IA4*C3QUU.PN?JZF=
M9*RH%/2R)#7`AF>):1#"(AQVKS[5V:W\H-5NU+;:/\2J[K4ETPF9W/=&8<2(
M9P^$8[!%./<5L[W3G;C1B[-=QV9^$9J^[77F)>S$3KE+`ND9!VR^%3<R9$%%
MU$DVP#4^S<(B/3P#0*RV=U>)E"*PO+"8.[N&;9NCAMAM71K[J:N8V7<G4_BJ
M*8V+I9>&!N(CVLL3`1*3EQ0[C6$^;%]9CQ=CFV+U3N'$$0U=7`:[6,3]T.'2
M4W+0*(M6L;/R*CE,\M%G`WV!#>F(&]H:V&MLLZS&GG]Z09[BV,`(,P!<.UYX
M8;%B-(ZMEZHJ[P)5N$JCH`,LOO2X..0NAF+6D;.E-.-[>ROWF[JOWCWGFSY+
MC'8^"IR5O&Q;JMJQY=NI<4B6X7F.SPR#BZ%&<<<%XI\JYWMP$U1"A:>;6_ZC
ME6;0-/3SI50;E-J6]HN:Z46B$1O?FB>'Q+SSHJR:@YRZDK:V9-_!+?;YL1+8
MR74]X2#$%Q[IS8988Q3BEAYQX57_`'_:7;,O"V5<LWW@Z!2MB/8Y(L(LM;[U
M_BZRVK4TR"KPSIE\<WMI4`$Q$A*H900`]:ZTBL\=13VWNE)D4M6>R!E=#")$
M3B<3&)`A'!=5M-UI;M3SK#-I0ZJH2YI?G=VX'*3E`@W$;`2M4<:^5%P<N<LY
MZX`7/@%/#F`[3LW(%G0-TVBVN>V5W,!;,XA;$:RB$92'9QC-)]%.RK$]$JA"
M[:!N]F8Y@:/HM$T%'K*5>#5U,XM+I!IS+RG+F/O,SHXX8-"HZ`U;7:ZJ*W1D
MRU"AII3'`5`GB:70.7^[RMAYW)R_A/PIQ)P<Q]<>-L/KW&X@9VYE+B>'N=^U
MD9#XP[8C<M'#9FS$4Q2+7S@)J^W6FZIU54ZMG4]=4L8PRZ9K`&QV#>8[UT;E
MWI#\F4%7;N_=/$RL?,!+0V`,("`)],4LW6K+H2-$1HB-$1HB-$1HB-$1HB-$
M1HB-$1HB-$1HB-$1HB-$1HB9,S?W%<IXSS]<.$K)PXGD*7BD7BS5M&_%*K.X
MUNTCE_C2UE"BD0Q7X>40Z;*^WIU>UZ/-RH6373`R8Z#B2#U_I!>*+K_,%.F<
MTZVQ4LATQ\GO&M:',!<YK!!HC+P+M@B<%TQ>XMRMVEKPZFJT#]9U[OHDZ:NC
MR[G1_P")9^P?WU@SS\YL@D-Y;W<MC@?'T>(X^QO5W_$7Y6_[G<U^\[_VEJ'^
MG<[_`#+/V#^\H?Z^<VO_`!M=_P#J%'^XC_B+\K?]SN:_>=_[2T_T[G?YEG[!
M_>3_`%\YM?\`C:[_`/4*/]Q'_$8Y5AX\.)X?>(%>B'YA"3ZZA_IW/_S3/V/[
M:F'/WFQ_XUN\?_T*3]Q>&@NX]RGR*PSTULGC):EP7Q@U%A,2^,YN;DF5T3#9
M\R.LJPMR..N[2D9^):_ZT=L4"E43H`'`PZIUVC!:'273Z@-9/(:"`8$[=N;`
M$"`Z5NV@N;55K2UU[;K;WT5WI7.C3S'RYCY9`AE)8P-<02,1'BMD]O7N=!R\
M8YBC,GV7:6$%\9RD)%,HN=NIC$K2CR9/,).(F093#I!1HXCG=OJI*D*D8-Y]
MH5$!,.*U!HW\(?37&:XY)Y<!@8@-A%WM8XN;A@N@\O\`F'(K;/64=T8&U320
MT$@1BUT!@V`A"&.V"T_VR.4N,;VRGR!4E.+^+^*"<$+!LVR&6+"Q93*363G9
MAJF<TK*,(=M*E6(Q(\3,BJMU7KXC763USH^X2+7;ZU]1WDEX[+0R&0;2"<V,
M8+7N6NMZ*S3*^55RPQ]2[,XEP&:&$1V3LCT+V/#SNK-L^<G\K8(O6Q+)QA;U
M@C=#N$R`O=+-NE=7X=N`T0B0#2BH-5?CP,1R!D5!$:#[ZAB=><L[W0TM#<*X
MN%,X!P)&P%H+1[9Z-RR'+GFWIV555E#3-8*N878AV6,"8D]@#9Q*;#S9S]M#
MC-S4R=F2UN#]K2UUQ5Z3T*IG\92YVC:XS3L4$*@^CI-8Y[<3;3F\$_LEQ"B!
MA`*F`0[#3\J[M>-/2)/C&.#)#)C98E$%N=K3B[,(X8?"N0SN9%+I_5,ZJ[@L
MEU$QPS%X((.8Q`RF&)!V!2`^)7,?'.=N/6)LY9'DL?X?NG);6=,2TY"ZX%B^
M55B9]U"N`C7,BN@[DT7#F)J(H`)!$VT:F+KSKJK2MPK*M]GFN>6R';($]`^M
MAZ5Z8TSJ^Q6R@9=G9!,J1",2,81W-QV]2<(@U"KM$W)5$G`.$6Z@.T1JFZ()
M!%)0@@<X"3TQ``$!ZZPK:7P<MM-&.00]"Z-15C:^3XMH@U^(ZCZ%W6BO$:(C
M1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1$:(C1%&)O^4=Q?=+O19)=/U$
M;=E60*"V22HU7M^WWVW<F8#"<I!VU'V_1KT+IRL:^W"4UI#A+AQ$0%\P[$+6
M/Y@;A-F2GEPG3"(D;<C88=:67^,EAZ@L>GL^U'P_K-:<[\?S&$^5")^J[Y5Z
MM_.5V&`\+`?_``L^1'XR7_C'_K1_TFI?^X/\Q*_9=\J?G.[_`/*_[%GR(_&2
M_P#&/_6C_I-/^X/\Q*_9=\J?G.[_`/*_[%GR*OXR<_\`?'!?#H"@4#\E5*TU
M`_C_`/[\K]EWRJ(UG=P8_P"ZQ_\`I:D2X]D1M3N_8:DFCM9HSS/BZXX:;!%8
MR0NI*(MR5!JY41`?A%'`K"D'K4,L)2[1Z4UD-8.N3K33&8YI:V6V/9V]7!<8
MT)64]9S=F4DACF3I[WOF'#*XD@&#1LZ$I_G#V:\;<H\F+94QW<XX,N^2;II7
M\2WXD%8:_D6Z,PYB7:[=J*2C&Y&4J1-0[D@>=%0_ZYM26#F14RK.;/<I0GY2
M0R8X-+F@F$#FW`G:,80&Y=MUSRJJ+MJ,7'3\YE+34S,TR60_WF6#CER0`BT.
M&.\]:84[CO<!#E+:]EX6:8D7QD]P7?CYE)RRCQ4Y9@L"T_#31)5@G\,NQ1!\
MT.Z1%2J8(&"GFKKL^@N5]SG5,JZON5+4T4QPF.E99CC+,08.S1:(C@(07E;G
M)S.M-;)%EMMMK:&LE$L[QTQD)@`VM#('''?'BM%\">$IN;&7;PQFYR;.8?=6
MU:ZUQ.+S68G?-W[-VHDP4CF17WPR")7$BY(H14IS53J/B&MT_F$UWIZGIZ.S
MVNG,^=)$'O86%C3#>"`1$C!8#DGRUONJJDWFHK9-!3,,6MFB8'38GZKF$@F&
MV*=S1N2`Y2J'[/=QQYK%C\8PKQJIR9:DC9%.YW.)GD<HJ\/%RB";=%U,NWFU
M(PK&,(D'V#KGLJLJM$S7\Q#42[A1U5)+#:267!\HN$O!V;W<,``&[X\5W/4]
MJM^MF4^E::G=;*JGFG-4SX&7,RAS8M[OMPVG'<1P2Q[J[(-GY'Q=Q7L0_(B:
M0CN-I;@-"RD3;4`Z-=[F7NY6Z$7#]Z4_J,T$#K*(G;HB*=1$P=1'7**+F?14
MUUK;A-H'?[XZ(8]S,S!L.X@G`$0Z8KJ[^45UK+10TM)7R7MIX9G-;,+"(;H8
M]<>A/W6['FB8EE%BJFN6-:M&"2B:0([DF;9)N03$+Y0.;TZC3H%=<98^JFU5
M1/J!!LR>YS!"$&$X=?6O0%*RGDT<FFIR#W4IK'$;W-$">B/!=YJLJR-$1HB-
M$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HB-$1HBBDYVE_@>YMD=7S@9NRD$!
M$!`.HV?;]*"(AY0_-KN^E,:7[OJ7RBFU?X=S[N$3#WLW^H.I;@+>@;0\RW@'
MM)[O\?4KJ0Q/6NN'4N/M-]/SJOXT+^TO^DG\_4/"%0_,OVF^GYT?C0O[2_Z2
M?S]/"%/S+]IOI^='XU+^TO\`I)_/T-&8*/YF^TWT_.M!L'QY/N0<!I-$XE6"
MXKI8JF$?.HS/\$B9*I1&M4U3!0>G763UC+DG3;<I'>-D]&U8_E--+^<TF>[V
M7L<?2X*4W(?$$*W$IB$'U$E1.7<)Q<AM*B!J@`>AZ9A`P>(B.O/DJ;W-9,:8
MF60Y?22@IZ:;551`!)!:8PV9!&&'EBF%^ZMVFH?D-&R>>N/$)#6WG6VV2[ZY
MH&.0,R;938,8YV4C1?X?<F691JF"1O1*!@`=PB/4>[<M.:<[2?>4U<YSY-8`
M&.<XG*890.TX`#':#M7D+F5R@MVMF=[;9+)<ZWDY\K0"['-&+6.).$.U#`\$
MR)S:[A$1FG"F-N.UJ89NWCS?6+7$7!W?<:,LPMB<>.[>LY2#>Q;EW;!$I%2L
MTG\0F*Z@HF$"F$=U:=:L&@:NVUTR^ZEFRJRBKFGNVNS/RDNS`^]:6P#3#LDK
MSWJ'F`R;2RK!IR2:2JM[B'E@#,S0('-W3@2<PCV@$J'$W(9KW'\28N[>=A6X
M_P`0YAMRR+9G9/D-+NH^15F7..X^-6EFRSJW4"7.["\`\ZJBB@@H?ZU:=,#J
M735;RTN<Z]7A[:JPS98[N0<SPV):X'),#9?9`^KL&Q;M8=4MYI:?DVRW#P]X
MES'ATP083E$/:87/B3QWJ3+PFX_W!QEXW8SP==U_+Y#N*QU+@^.N]59[NES3
M%Q2DT0A0D*NQ28D?@@0#B-")AUUY4U;(&H+T;O0>YILT<C>R,,(96=E>Q-"5
MOY?L4NQW%_>UH!;F)B3CQ>0X^A+&9)>F"_GW[USG^L)MM:>7KX4UCI-QD7`'
MN/\`".0[-HV[#\:V6AH)E#WG>.S=[,+QB3`'=BN;JLK]&B(T1&B(T1&B(T1&
MB(T1&B(T1&B(T1&B(T1&B(T1&B(T11!.5<B,7W'\O*G,8!;&73,8M!$?B[2M
MXJ.WZH4`1\WA3V5UW[15-,JJ7W<,&[^I?('6[WV[GK7SII[)FS-GZC>I80NV
M@``JJ=``/`/9_E:R9IS$J].H)<?K^7WE7\7!_%4_0'\[4/#GBH?F"7]OR^\C
M\7!_%4_0'\[3PYXI^8)?V_+[R/Q<'\53]`?SM/#GBGY@E_;\OO+@X;DQN#N(
M<&6R'J*+-+CO1RIN`-I4F+%&56/4HB;JV:'`O3J>@#0.NL'JVEKY%K+IKF&0
MYF`!),.D;%TCD7>*34/,B554#9C13`RWYP!%P(,6P)B.DP4N4Y!7WE&@['!1
M"ON2$"C[!]A>FN!3:VE=4%C0\3($'`0^-?2VADUE!55%1/(=)FQ+0"2<0(1!
M@!YEQ_AE`<&5$6Y1`Y%$%=GVQ#`F!%$U!Z>HFJ(>T>E=1GRJR?(@]TMLMD#*
MQ(V8]KYE/;:"FIJ,P8?$3H]Z8#$GAA'`<8IA_NM]J2,Y)1TEF_",7&0F<X&.
M!W+1[0GP\)?T<R(X4/&/6;=LJ!9I1N<P(*@4!6.(`<P>.O1/*GF=4LM[;!K&
M<)H!RR7M>7-E$^R/>$]@["8C+NB%XRYR\GA27DW_`$A(R2'DNGM+0,PWE@EL
M$3T&,>A(%Q?>M@\E\&8XX)\9;)G<!<[;/L.'9WA?T[:D;CPL,MCUU#IY&C%K
M]MYU<5RG=2[=SN9%69"FN`^<Z7@&?O9O#G3[GKNK;56%\`V7(F&<6"(:S*R:
M"UO9]J!A'=L6L6FFLXER;-R_D3*/40)+W531):YQ!+B72NT8N!AV<=NV*D;\
M%<3Y;PCQJQQC'.=QDOC*]KIRJ-V70,U(W.E)*/99Y(,UB3DE&Q;AVJ1BZ3(8
M?2`A1"@"/CKS;J2XR*BYNDZ;8Z7;@8#O6ACH0Q,&81C'S+U_HO3E=06=DW5$
MRGG7C$ETMQ>S="!F#-U]*66WW44W`0/M#"797J'L$U?UM8N11T]&TMD"!><S
MMGM';L`^'%;/3SI\[/W^2#7$-RQ]G=&._J7)U65PC1$:(C1$:(C1$:(C1$:(
MC1$:(C1$:(C1$:(C1$:(C1$:(H8W.:1&.[@N=EC")3(OFB0F*%:&-:MOTIX=
M*#^;7HSEQVJ7K;ZE\9N=-8;?SLK&DP=WDS^JU:5"[PH'VY_W?Z6MK-N=$X%<
M].I#'VCY>='XO+_'/^[_`$M0_#G<"GYD/Z1\O.C\7E_CG_=_I:?ASN!3\R']
M(^7G1^+P_CJ?N_TM/PYW`I^9#^D?+SK=/!RXX$W<4P3<ET2\;#6W9-DY'F'4
MS.O6T7&-'BMNNVB1/BWBR2/KF45+TJ'3K76EZQE3Y]`^4T..40@`3T+T'_+5
M=Z"W:E?53GM&>87$D@?#$*1S=?<@X,V$5T2Y^3>*FKEF4JCMNSN)O)KE]9,J
MY`(2.^(!43)*`/E$?=XZXK+TI5SZ@NERWQCO$/4OHV>:VGFF6R;/E1<-@()W
M;>TDWS7?$[:,0L9!;D&V?$+0H.(JWI9XD8PTW4/Z*==IAH/361J]!7V?3YV=
MEI&`#O5E6*F<\])TMTF4#YA@QT(AH(]/>07/M[O4]LBYG*#=/D[:4.Y45+\.
MG=S*4A$C*!Y$U%53MU$S%(!O*`^.L'2:-U)13(G,98Z3C\"S3N9^B+M+RS'M
M>"-X:8>;,D><JL48FY-W&ORE[;'(G',3RKM>*=(O4\>W3#-2Y.@#"FXFXY["
MJ`5W]]>@8@HN"IF]<VT@C4`ITNTW.NF4+;3>FS'4T0!G#B!L@#$0AP)V;UQ+
M4-ML\_4CKSIN=*:2T&#'-'&)&,8XP(]&].7=KR[<M7IPOQ7.YOD;B>Y-]:\6
M5X*72W4:3J,@PN^;:)MGB*I2F'TFB28$&H@)*4'6DZDIJ6DN,R53-;V0",/L
MQW+M>C_Q6LH6"HF.+8F)+B<(IPUH8IR&$HB(;A\0IUUJ-'/G3V.=/$'!T/-Y
MUO7A12]@;\5RM7B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B(T1&B
M*$/W%93T.=?(A=,Q@.E/L4Q$`&M36I;U`]M0IKT-RPJ9,]G<2C%[1`X0V!?$
M[^9FGK*3FS5WMP`M[ICP'1$8D-`[.W:D8!/2=`\QNH`/URZZYWM/Q^!>?2ZM
M)CZPJ_?TG^T;]\NG>T_$^A,U;Y$(^_I/]HW[Y=.]I^)]"9JWR(1]_2?[1OWR
MZ=[3\3Z$S5OD0M7WO:C^^)1@Z>RBK%HS;*-0*Q$YUU$WGD>`X35501.`IAU`
M#"`AJP;343YKG3O9)X$Q6SZ=U#<;&Q[I9(FNCOV<(8':O-,L(V44H%D6R[[T
MZ)$(BW:1:`HHU20$OPJCA4@F1*43>(B:HZNQ16/-$N/[)^5*GF%K@U?>T[&E
M@.TS1F_J07?-,38P9F,`V2P>$$``!>.'#U41IU$5U56QA#KT#8`%\.OCJW<9
M#9I9+8#3C8<1\"N7ZRU'/:9\R<]M4[$@$$1Z\JO/B?$[CU4'.-H%PW4`:D<H
MF42`3>/IB5Z*Y#_3T#5<LMKQVVB/4?E4M/K[6M&XFFGO$=^9O[J\HUP/8MNW
M`QN_&1I[$]\1)R.X>X[3FI-LHDJW<H'!%02/CJ"V5'H)*"6FM4U7143;:ZJH
MQEJ('CC#=B?4M^T%S?UK*U!+I+H_O+>7#:X1!AM@V7'X<=ZG3]JRX;JNC@MA
M:8O=^$S<;Q"YAD94SA=PM(+$NJ92!RY46(0XKJE(`FH`AKR=<:ZK_$2ZL``)
M.(,8@8"*^Q?+.Z3+II.1721%SF\2.&V(3BS8NP@AZ94_,/0HUK].H9I;^U*,
M6GS+>63JB<"ZH:&O!A@8X+D:*=4$Q2^(@'Y?^GTZ(L1G")13`RA0%41*G_AF
M#H)2^\0T144<HIF$AS"!@("@@!3".T3`0!Z`-?,.B*_U2;]G41K3<`#L`:":
M@F^K6@:(K`<$';4%"[A,!0.F8HCLI4:"`=.O3WZ(KO6)[Q_1HBN%0@%,:NX"
M!40+YA\*@``'43#[`#J(Z(L?Q*0%2,<PIBM7TR*E$BAC`43B38:A@.!0$1#Q
MT1`N$_433#>854S*$,4AC$VEI6IP#:4>O@.B*[UD]XI@8!.4`$Q0J)B@;P$P
M!X!HBL!TD.SJ8!.F*I2F(8#"2M/JB%0,(CT#Q'1%<==-,IC'-M*0`$1$!I3V
MT]XE]M/#1%8H[12`ICB8"F.0@&VB):G"I#5#]0WAN\*Z(CXI("F.8%"%*3U!
MWD,4:4J):#U%0/V?'1%4CE)3ZHCTIOJ40],QJ"!%/V%.OU1ZZ(LV\O[1?TA_
M?T18A<(AT]0*UV[0^M6M/J^.B++O+[_Y!_O:(H-?<(53<\Z.3!-P#\-=<>DK
MY3>4XVG;HE+U\0$/:%==AY35.2JF1]KM?%U+Y!?S1V[/?9A`_P`7_P!0Z4C[
MIKJQKFQ/EZEYN%`^'E\J.FH>/9Y?0G@'^7THZ:>/9Y?0G@'^7THZ:>/9Y?0G
M@'^7THZ:>/9Y?0G@'^7THZ:>/9Y?0G@'^7THZ:>/9Y?0G@'^7THZ:>/9Y?0G
M@'^7TH'94O7[3TEA*6@]0*HV$1KX!0-8K458'6<B.$#Y;%FM-6UQO<L_:'KZ
M5,H[2J@+\",'*%&I3$NH`-UZ[;PG0\!Z]*:\N7)G?5>`WGXU]JN34LRM#4S>
M@^I.5I_K_P"..HAF1H'0NBRS$N_6*J90I#$*81JH82D`"F&H@4QQK0!H`%*/
M4>FHJJD]\FN36#^)>)[BS?R$R'`8UQ?:3=5:9N"XQW-'#CTRK-(F.9HE5D96
M:?[#%;(-4ECJ'J&WPT11-\O?.>\.[4N9Y!XRXOYZR7#,WKANVNBXYZUL<HR:
M--S5_%Q:)YJ8/%.DZ&2^+0;GVC40`:@!%OGB5\W1P)SY>5MV'EVP,P<9Y&X9
M)E#-+GNM.*N?'J+^3>),6!74Y"'=2S0JJZX;UG+1)JFF`F,<!H`D4C_._)"R
M,#\;\E<F9'U+]L?&6-YK+2Q[,7C7AKIL^!@U+@7DX!ZNX3B'S<\,`K)KI+&3
M4```@F,8I3$451/YU7@>*15'7%GE8D101+Z*/]DJQ"G*`"!TR+7LBH*9P'ZP
MA3V`&B+M8;YT?MVRDHR82_''EA!1[IPFDXEU(C$D@DP*8:?$+-$+]!=5$@]3
M;`,<`\"CX:(I)W"/GMQ?[AN(4<Q<6LD-[[M=*05B9ED[CEXJXK1F$$".#1MS
M6VX32<QKD2F`43J`"*XE,*1S[1H1-+XZ^9/XMY*[AR7;EB\)9UCLLGS9<F#&
MUUR"5C&L(]RVH2:"9E'IFUPJSJ+0J\&LBGZ2"AC'.4:;*F`B>IY0<KN/G#[$
M=PYAY&Y2MG%..(9,I#3<^LJHL]>J`)BQ$-$LS#+3<FH(>5NU(=6@UH!>NB*-
M'DSYRCMPVG+NXNR\.\I,H),P`&URQ5KV-;UNR:1PW)N&J,]D%M-ID6*&X"N&
M1%"EZB3QT1;.X>_-8</>9G)W$G&*P>/_`",MF\<TWDI;$#/7,ECIQ"MERQ*T
MBT%T5A=3AX@R53:B8_V8&(4H]1.(%T1*7[H_S"G&GM29UM_C_F/"V;[XN"XK
M,8WZUG,:A8YV!(R0=N&H)B6Y;@C%0-Z[8Y3`(`(4]U!$B7+VV.Y#@CNC<=D>
M16"R2T(Q0N.7L:[;&O%*(4OBT;A9"1>-0FF49(.X])*1;+$4;JD,=!<H&VG'
M8<0(DG]USOKX`[15]8ML3->&\O7XYR[;<Q<\/)8T"S!38EA7C5C(HJIW'<$=
MYTEG:8>[SU*(@`T(D]\Q?F8.*W"JW>)MU7W@?.]QL^7G'*W.25CL+1)9!)&W
MK<NQXXCVT5=02MR,DU9\#M#FJAZA"CTW=:Z(D2#\Z?P$*3U!XJ<KQ(!@)O.U
MQ$!C"(#U&M^@)A':-1\*Z(LB7SJ?`I0[8A.,7*LIUU"H'/Z6*B_")G."9%!,
M%YF`P!7ZH5`/#KHB5?\`\TEQ&_\`L/R:_>Q+_P#6>B)NCGT<A^>?+!(@@91*
M^(HIR^X369;BY0&O3JB&[\FNA\NICJ&IF3*KL2S&!/5T17RU_F49(FWF808^
M\/']())5>@#[!ZA].MY-6TDP*\T!M(=CQ\**_3IXL<55[B0?K(KIXL<5*)5,
MXP#L0BNGBQQ472J=HBYV"-0\6WBKQUJF-E">YI[IPB#Q^%&H^+'%4Y-N\0[+
M)!<[RZ4=?IU#Q;>*K3K/.IQFGL+1TP]11X?R?R^&GBV\5CFMI'/R->"[SK(8
MI/3*>OG*DX)^05#MRIA_E&`=4;K5!]J+`8G%;1I6DES+Y+D,QFAPPZU,8[0!
M_7[?&"#E\U"WB`C_`(E[7`0WC[C`(:XA.!%02X0&/QKZ^\KF>'T?3RGX.`/J
M3G!`$-XC[3"(?2&J;H80X+=937-+LV]Q6!XJ*14MM-QUDRT$*AZ0&`S@U?8)
M&Q3C7Z-2JLOF[_.4\K[LG>6&$N(32><(8WQ;B:.R>^MM$ZXQ\C?U]R$HQ14N
M-F)B-W9XB"AD%6YC`J!`=&H%1$`(I+79S[)'##C;PWPQ<=_8!QOF#.N4L=6Y
M?F1;[R5;<5>3M*6N>';R(1-NJ3S-XG;\2W0<E(!$$ZC2@Z(F1_FJ.T!Q@P3Q
MXMCG/QKQA;&%K@@LAV_8F5+7LF+C8"Q9FW[N;R;9C<:-OQS5(#78WN0S4@+@
M8A3I"8!*`T'1%[;M+\JKVY!_+-\_<>WU+NIN4XSXESOB>`D))XN[4>8_D<6C
M<]K1JSQVL9PB6WE99^T`M-@-TVY2B-*`1-;_`"L.">W]G.;YAH\[[0XZ7%#P
MD-BA6P39_N"TX5FU>.WURIS*5OHW3(LDEC`DD@)CIB)@J4.M1H12`>ZQPC^7
MKLG@WR`N6VK=X>6+D2*L*77QG*89O"R%;]>7ZU9J/+:B(E"T9&5E1^\Y!(B*
MF],B)BGH<X`-=$36OR5!\B(9[YF,$'#@,;?V76,ZN5J8KIL4U[C,J)6N=1H/
M^KI*LHD)9-0#444,J0]!`M0(FP>+Y3'^:B:D*!A%3N,9X3J13TE"`I(Y#(*J
M:@?551`VXH_M`&B)3GS='+B\<K=PFVN)BD\+/&''JR[37C8A0JZ<.M?F36*#
MRYKOFB$5*#I]#-#)(-C[*E2`X@/40$B>TX.<9OEI./?&K'EJY<O[AAFC*3RT
MK;FLCW_EI2,NN>5O*2BB+3+:(1GH1T>,BD73@Z22:8B9.@&``$*Z(G-^-UO?
M+MCG?':W&6`X"L<^-;G0<8T/CR(M9K>8W&BP=M&18!4L.U5(_P#014.7TE-X
M*!T$1&@D41GYQYLB\[G>%V;@QR-W?'JS6K@Z854*@YO&616,0/:<$SC3Z=$7
M6]I[D/D;L(=U[_TN<@Y=<G'3DY"XN:SD^X:F;PKR)R+%1$SB?,L2!O6].-MQ
MQ+K1[U4M%#$2<@):@4-$2EOG:@^+SMP@?-3$<,U<49062<I'*=%5(]SVR1-5
M(X"(*)JB/D,6H'#J41#KHBE*\)N`_#/E?V].WA>7)3C+B'.]RVYP]PO;\%-9
M+LJ(O!Y$0J=JM9,\:U&=3=[$?CW1C;>M3F'V:(H7WS:G$[CCQ%Y)\5K<XW8?
ML7"<)<N%[TFIF%Q_;3:WV$E)L[LCV+1PX0:JBWWH-%U`*)2EV=0#V#HBF)\"
M^T1VQ<A\'N(UY7AP9XWW%==X<<<071<ES2^+[3>3$[/R-C6Y(2<W)O%(P574
MA+2"QW"JAJF,H<PFJ(Z(G`/^%MVZ?]Q[C7_^K[4_V=HBBF\\%D1[@7+XA52"
M9*_X5,X`/4J@XWMX0(;W"-=;=9*L,#@3O7S)_F!MY?>'$^SWF/I"2PD4RB:)
MB%$2K)[TAJ`>H4H4,8M:#0H^.MA\<R'M!<C[BR90&Y2Z''HZE8"Q#'%,JA1.
M'B6O@'TCX!IX^7",53=34!'8;CUJ\/\`.`D`@90P`(%*8#5KU\2B)0'\HAH:
M^7Q4T^DM=,W.X#'I^954JF)P5\GIE,<^X>A"$':8YC`(EVE'IXZ>/E[B%)3R
M+35'*V'I^95.FH10$C%$%!`H@4!`PB!B@H00$HB4=Q#`/Y]1\?+XJQK9#YD9
M$H>[;@%C4,5),RRABII)E7,<YC``%*W!,7!AZ[J(@L01Z?K!J`N$OBL?1T4^
ME?F@=JNKU$!$*@.T0\*&#Q#Q\=/'LXK,3JR3.E"1,':"L,LF7>!C@'I[-X>;
M_K?J`7IYQ-[BU'3Q\OBJ5%16YDSO9@AY_F5YZ@50I@$I@](PE,!BG`/53,(B
M4U!"@=>NK>ON+1296E9[3-%)G:R$VF'NNQZU,2[-JB:W;PP2JDH50AOQT`&+
MU`1+?]R%$/S"%-<\G31-G`@[ROJIH25W6G9#>CY$Z(&J:W",5QW1B`0"J=`/
MO`1I6A2IF.IU]@B0HA^?1%\N3YP/%TW"]SRV,B@U?.(/)_'&R)=@^51.5FD[
M@'\]#2,4FN803.ZCF9&ZZA"]2D7*-.NB+Z)7;HSI:'(OA#Q>RW94C&R4-<V$
M<>@N>(=IO&L9+Q-LQT9*PC@4O^S2$:Z;&(JB8"F(/L\-$3"_S@V<K(LWM>(8
M4D))BI?&:\TXU3MN$([0&8(QLE^[O61EQCA-\2$:",&+<RP@!`45`M1$::(F
MB.Q5C"8MOY='N^Y)G4SQ\7DBW<V,+?7=MC*MW32R<')$7=H)U^V0=RLH+7>`
M4]5(?V=$3'O9![+I.\#,Y[AASJGA,,'P5A2BYV]M?BD;F4O5U<1693E4<MV[
M'[I<0I"J%H8?M.@5T1=/WA.S!DSM'Y?Q7"7%<XYCPUE6/%2"R@UA"08OKAC5
MFR]VVB_2^(<#'2K%$WJ,CB;S)CN]@AHB^BSV'\!\',/\#<67YP62>/K$SQ$%
MOR_KPN-<\O?]RY&("$3+Q=XRRHBNT6LV1!S'H,J%(F4=X!0P")%`RXO`!?FH
MVJAR'.FEW&LZ'4*GU-3[QR*H6G4.@E2$?R`.B+A?-)X^E;5[S65I2Z$7C>VK
M_MG$=QL)040`GW"I$,(V1.S,M]@O\&9,X#UVE-T-31$_?AWY/O@1GK$>.LOV
M+R_SHZ@,D69;5S1SN&A;&EHY%61C6SJ133<*[]Y$W1SI[3"!B"6@"(Z(EO<.
MOE4.*O#CE)AGD[8?(C-]Q7=A6[F5_14!<]MV6G"OP<-)J-^`DC("58A`35.(
M"0!43$`$M1\"*.Y\XRMM[GN%%4@]4R?'ZS#$(`TWG3O&64`E1\!$`T1/9_,"
M=L0_,3M><?\`EQBVWCN^0O%W`V+;B<C&)JGDKHP^\Q[;CR[+:(*.U4_X.=[)
MUDI0YP,DLB%/5'1%#%[A/<.EN=G%_MZ63>RTA(9KXJ8VO?#=\7`_$5%[NM\C
M^W5<7S@JK4,LNI:C84EU#")CN4S";KHB^K!VFU"!VS.!@"8`KQ6P\?J-`VC9
MD3YA$:`%1'1%"(^=E`5>6O#4$_.)L!7^<*"`5*%YL1$W40"@`41_-HBG0]M0
MY![>7!U0#`)#<3<'B4P#4!`V-[7$H@/T@&B)<U0]X?I#1%`WYU4'N&<T"E&O
MIY/M\JG^`*N-K=!$#?LBH/U??JZHJQD@G.]K3'>5X`Y\4DM]PFG#VC\:T+#0
MDQ/S4-;\!%*7#=<])DMV%AFQ3G=*OSD`3-$&B0"JJZ`HU$@`)J:NO',.QX]/
MSKBVD>7E9?I@=1MF3Y?%F9P](:4\+879MR:_M-G.Y=S!9N(73OX<Y8=5D20$
MJ;HH"DW>G463^'=$W`10@B`E4J`]0U.^JRM#BX93LQ^=>B+/R4MLN4UUSFRI
M!(_Q'Y3'A`LVK0/*?MC9JXUVH\OYG(0N4\7,A7=3$U:K%6'<0;5,]3R,JU,9
M0R[5,H@)U"B)!KX]='5C60B]N(X_.M2UAR6G2*1U=3-=,M[8^\9F+`!O+@R`
M'6O!<*^$]P<RIF_(BU;]BK2)CMO`/'#.1A5Y%O+-)M-3U2F(3[1%-)<@D,`_
M5,%/'4&UC7;)C<!Q6"T+R@F7M[G4.:=*9[1:20(&!!(9".*3QGK#E[\=LIWM
MB.\2(??5JB@9"008+QL=*1L@<#QDM%H.BE.,<Z3/L(<*E,=,P`/34/&L!AG'
MI5G<M%3K%73W762^10LFEHF3&EK#P[3F@&.[BE!WYPDN.S.)]K<L)"]H=U;=
MQ*-6;&V48%RX>@K*2#Z-<E4DR;D7(JGB/4"GU2]!\-5#5,$L3.]88G9FQ'PJ
M^N>@JB38Y=^9(<;7-AEFAIR&,0"'98$&&&.*49@SM.WMGK$-HYH;9IL:T(J]
M&(R*$;,Q,FNJT*#@[8!5>-S`UHLHF(E`!J7P'J`Z@*ESL6F/4>*W/3_)FTU>
MG*>_W6=)II<\$QF.R#;`8F7#'K7L[E[+&7VT*Y=63FG&=_2+$JSH\`W;R[5=
M8Z0"**<*]3%0D>_6,%!.IY1&FJH?,@8F!&T$X_&K"Z\H;952W-T_4R*R8W:)
M,P//H:SX-Z:"NNW+@L^ZKCL^ZXY2*NFVI!W"SL8NHZ6>-))D9/UT7BKHA%%G
M)2&*(F*&W:(:Q5=70:90=VH;(X_&N>:>T[-T]J_\.KV/E3F%I@\$.@8P]H`]
M2ER=E<P&[<.`A*8!#?D#J`U#_P`Q+H]NL92YW0+@0,=H7TDTD6?@4KNR"(;N
MH)U0@U`?RCJ\<M@9&!S`@Q7'<UW)F!,Y_2!100*435*)?2,4M/%42J"(![:#
MJ"G3+G>?[.F/^[-@.`LI:YF^.<XXL>.Y/#V47<0I*,&*CYNG]XVU<S%NHFLO
M;\P+-`#K)[UFIR;TR")C`)%#KQ+VQ_F@^V>XG[#XBM[L<61)OY#UD\:Y+Q?=
M6.9@BS@QDI2,M6\Y7[RMU97HIZ@I-W(]"J%`H!HBQ6W\O3WT>Y=FJ%O_`+C%
M\.,?Q;,BD<ZO[*MW6C>5S0\2BI\<2,MBR+(DUT4$GJYA(4^PB:8C4PB%:D4T
MK)G;\8X9[2F8^`?$:TC/E#<7LBXMQ['/5XZ,=7-=MTVM*,',Q<\M(BU;N):=
MF79U=YAJB42%W4VZ(F<_EBNTIS>[:MV<O'W+''D)8;+*EL8NBK*5A[UM:\A?
M/K/DKD<2JIU;<D7XMT%TY-(Q"GV^%.OCHB>G[QG;DMWN<<(LDX'4:-V&36K$
MEXX8NA5!N5U!Y#AE"/(]BLLZ6:E;Q,^H@#5X`JD#T5-PCY=$3+?RW7!_NS=N
M*Y<D8(Y482M^)XK9')(7Y!S,?E2T;DD,;929-48UVU8Q$7<LA)#!W7'H^DX]
M)%1-9TF@X(.PJAM$3?\`@OL3=R>QN^NSYOSV'X!IQZ#F3DO+R]Y-LCV.Y=M;
M"EY&]RQCE2UCRX70X<2`R;4-B+<ZH)*BH)=@"($4AWO6=E#''=HQI;BZ,TVQ
MER+QDA*)XQR4[B74C#.V4HJ51Y9=[MXT"R+JW%%$P,DN4#F1'J4*5#1%$WLG
MLK_,_<1HU[CGC;E2<)CJ.<(F9I65R/L9I;[D$W9SH.(FW[TF49"/0(6ACH$1
M3Z5"GAHB<'[?'"_YG2P>;''R[.7.1[ZFN-%MY$(MDV/?YPP_<[61M5:+G4#^
MM"P4PXESMDEUR&':&\@B`$"H@&B+L/F.NR_W#NX9SAQWFOBMB&$O>P8##]O6
ME)/)?(MC6@NWE(ZXY%RX`&UURT<Y,4&ZQ%!!,IE!*'0!$::(ID.%+(F+?X_8
M>QY?,*U+,P>&L?V5>4055&0:$D8NS86W[DBSNC;FL@Q.H@J01&H*$+4`&O0B
M^=;W'?E5^>)N6^9YW@_B.V+UXWW?=KB\+#.\R98-I/;;1O!P5Y-V0G;UTSC"
M23CK>FE%"-G`$!,C(I#`(]=$4^_@-B"_,'<(^+.#LH,2QU^XLP%C''5XQS,Y
M9*-3N6U+;8-7YFD@T,H@X;@X;BF*@")##T`1]I%&)^9J[/W/3N2<A>.=^\4<
M40E]P.-,0W1;]T.GU_6E9Z@3<K=$>Z9LVI;ODHQ)2B!=X[:AL*81H&B*5)PB
MQA>.%^'/%W$%_L2QM]8WX_8PLB\XY)RT?-XRZ[:LN"AYV.0?1ZBS!Z@TE&JQ
M$UD#F15*7<F(D$!T1*B]%;]O1%`NYS.]O<2YQ@(@`ERS8U0&@4#^SFW>H^T`
M_-K#U/M^?UA>"N>(S5[@=[S\82[^S5CRWKZY2SES3S%N_3QS9`7!;*3M(JGI
MOIEPHP-,+IJ5]-TDJ`D3,8`\U`#KJ[D-#I@S;-JW#D7;&45OSMA#+'=T]`2:
M^?V<[MS9RKR8E.3<BA`VA=I[!M:+;+J.V5K-H=!0TDL>'6=L"21I0S?U%%``
MP(";J(4TF3'S'&)PCLW#<M0YBZ\K*&ZOE@NRAVSM0!V8=I.5]EO,4GE&V<[<
M;[Q<.[LL2+MV'G(5K.`,FB:)NI>0CI:)J8[M%LS9J(`5-+>8I"@``/0!U-(.
M::UK\6G#CAT=2ZYRQOL[6'+NIIZR+F.$QIC$X1`WEVS:NV[1$(C86=.<EOQ#
MLKE"T$SP44AT+Z*-NW/.%0*LH'4!5*!0`1\0#4K&DES6\#\!6?Y86V3IZQUK
MY)&:,T[HX&.X#@N)S+L^W^X1Q59\F<8,6ZF7,*.\@05^6TQ*524/"0SERA/1
MBS5LF=^_>MVL<FYC0,`BIO4](!H80B?>-#F@1`)*P6N;53ZTT7,?(RNG-J07
M0A'`?>.SSKK<].TG?9+P.]35WI/I2UGY#&#T]I7LM=#HJ8E&E/1!?9^;4D.S
M'I^50UW2"S<DK=;]A`DC^D>KCP6WHO&5_P"9NSK86/,60KFY;UE8B(=,(1E+
M)Q#A\S1GW`.@+(+KM4&Q!`H@("H`"'4=7TAY;)[).:(V;5D:"VBZ\KZ"@F;<
MHV=9X@[^A:N[:7#;EG@;/2F2\KL'V.L7Q5JSK"8A9>[(^0;RCERR%.-+\$SD
MGK)NE$+?:"[$P"H`5,/35Q*F3'38N+H?6CZXJKI[2]-IFE=6@AIVN)+1Z3!O
MPE-><_KXM._>8^9Y^SWC%W"!.!'D<1Y$"LE7<;"1+217:N4*H2"*SY)0WQ!#
M&*<PCYAH.L+5N8ZM<Z7[.'Q+S[>JBGO7,F;<)7]V0QNT'V8_K8>=2-.RB<AN
MVW@+8=,P[L@F':8!$"_VC72&X:#T#IXZR,@C((^6)7M[1K9<NR2F`B('1T)U
MDAR%"ACD`:@%!,`#40Z=!'V^S51VU;.X@G!9]2J54$Q2_6$`\?$0#P"H^/N`
M-$5`.00`0,40$`$!`P"`@(5`0$!I00T14.HFF7>H<B9`I4YS`4H5&@>8P@'4
M1T15`Y3;J&*.TVTU!`=INGE-0>ANH=-$5GK(_P`5+ZQR?YPGUTZBH7Q^L0`Z
MAXAHBN]1/9ZOJ$].F[U-Q=FWW[Z[::(KA,4*5,4*^%1`*]*]/?T#1%3>3;NW
M%VC^MN#;^FM-$0!R"82`<HG`*B4#`)@#WB6M::(@3D*(%$Y0,8!$I1,`"8`Z
MB(`(U$`#1%054PVU4(&^NRIR^>@5';U\U`]VB*I3D,4#E.4Q!"H'*8!*(>\#
M`-!#1%3>3=LWDWT$=FX-U`I4=M:T"NB(]5*HAZA*@!#"&\M0*J(E3$0KX*&`
M0+[Q\-$5=Q:5W%I40K4*5"M0_*%!KHB!.0H;C&*!1\!$P``_G$::(@#E-7:8
MIMM`-00';4`,%:#TJ40'\FB+%\4V_P"\(?UJ?\[1%\_'N"2@-.XUSL*!@W#E
M:R`*6O4=N.+=W"4/$0+3K3PUAZK^\/ZWK"\$\]'!E>]V\//QA;\[5O+"V>.O
M*^+<7I-IQ-AY2BYRQ[DDW90.C$3":B<C;!#J&#8E'`^7`3*&$$R^T>@ZNI3\
MCP=RV/D5>63:'NZES6&$.V0WCN<0EC=P;MG<@I;-EUY6XWVTVR?CW+<@I=Z\
M9`RK!C(VO<7W6V16D&CURN";Z/GEA,J'IF$ABFZ5"FJTVFG`F8T$RSC$?#ZU
M5UQR[%VN+JF4&S))).9N5P/'CO2M^$N#2=LOCGF_DQRFE(*U;RNF&:&);Z+U
MN*D=&V_\2XC85`J2HD>RSIX\`3IHE,(B`C0=08UU--#YH((V#B?+:NCZ:M%+
MH#EO53'.8RI#9C@V+0XF,<`"">F"T'V0[W>9`R;S:NZ2]$LC=<2WN)VDB/E(
MM,2L\^*F4GUBCZ*I!`HA7KJ:D[4QWZA*U3E-J>9?+?74U02TPFP!B-XV9DAG
M@#S5_P#3-R<O6"O&1*CA#*UY7);V1HYV/KHV^Y<77(1D=?2>P#B(.G;@C-1N
M'G*D8QA"E1U;R7`.Q]G8?.L%RNU1.JG7>T7`ELF7<7,;FB(LA"+<T`?-@GF.
M[?:=GXC[<S:T;#;I,K4CLEPKV):(KD6;-4)V3N":4(U4(<Z81_Q4@<&X`.T$
MMI2]`#568TMEGAF'K70N=D^2=!T%%3N:\";*$&D&$';X%:N-E_(6'.R?CW(>
M+[C=VE>D5%0HL9EDL1-TDR6GW0.BI@JF=/[4@4I^L`5U;F:^7)<YF:(<!A%2
MWNZ'3W*NCK*)T9S6#!AB=IP@W%,-WWW".7]_PCJ+N[D#D&3MUWM![%-IQO&&
M6;.P$OI*,&[1,ZB)2B(;MWF`=4#63W"!+H'K7F]G..\W:GF4-0Z<&&(@[O`/
MZ237!S0N)0B!`.8JB3[[4P&%5:A"+*KN#")MZH[Q$YO<&J3#GF]*U.T7=[=1
M9R3$D&./2I,W:6SV%L]OG!<*+L&P-ULD`JH10H&%$F1[F4(40\0*H`U#W@-=
M9F2U^78?05[8TMJ.:VW-$HEW9W1/Q)\7"<]<5^,2WC)T)"N$Q0BDA^NN5.I1
M<&`:#Y3!0!U</W0X+JFGJN?6TCIT\.#LY`B"/C2@B5`-IAJ8/$>O@(C3^34B
MSZU!G^_U,4X7RCD]!BE)NL<X\OB^V<8X,H1G)N[4M67F4(YX=$!53;O%&H$$
MP`-*Z(HV6%^]7W(<^V$VR7A7M:O\C64X>OV+F?MV^U$HHSN%4^%<MVI?B6[@
M3%0(!J*`8M1H`5T1.#]M'NN0_/:\,H8FNW$\]@#/V(47*MX8UN!TV>$:MBR#
M2&`PJ?#(KF!&2>D\IS&&M-$25LF=^BW;%[@9N*(X>BYG!<7E2/Q/=V?`EW21
M(>Z7;%4KU,Z)2?`F5;3;7TQ\P&VH*>&PU")UGN'\L);A!Q$R5R;A+5C\A2&.
MR6T=*V'KYU$LY)"=GXV)65*Z:@+DRX(R!3C3I0!$:``Z(F;8GO(]SB;QO'YP
MC>T[,W/BAY;*MTH7);MU+.!4@FYG`N%VI%'2RK@%T4OLP(B8#>S1$NGC)WDN
M/F=>'V7>6ERQLYB^/P(^;0>5[2D5TW;J-N*4(!X..C3@("Z^\7IBM2"0##N`
MP=:"`$2,,>]YSG[R+B`R%Q6[5UWY%Q1(&>!;MZ3=WHP037H^K\,Y0:.19K&2
M>`G0NWIU`:Z(E+<H>Z/R/XE<%<7\H\S<4F5IY?O?(L?9-P8+?7#(+.+<;2+P
M[5!Z$NU<B198X"0X$$=M#>&B),$WWBNYY8]GN,HWSVFKC;8PC(E*XY^\H*]5
MGR#.$,V^/2D46OK*.#-18AZBA@*)"EJ(]-$3T7!;F18/._CK9'(?&K&2AX2Z
M%7T7*6_(E(9[;UPQ@E"39B<0`3IH+'#S`%#%,'31%PNX1R=D>&O%'*O)"#LY
MA?,ICF(9*)VW*/58YG()NWJ2!BJKH@/I$$RH5$`]OT:(FY.0'>#O7#?;7XQ<
M[XW"T#-S>?)N'AY''+NZET(:%+*+W$V,BUE?2]=P5'[E`0&@=/'WZ(E-\.>Y
M+;_,#@_?_*6"MAA$WOBRU[_<9!QH=R8SN.O+'MJKW0WBCG.0%4V3PZ9?14.`
M`H`B)1'1%IOB;W>+3RIP$O[G)GVQ6^&K;QY=L_9TA;]M2;J:1N)2'7$8)2UC
M./37-(7`HH"8)J!4!J'@&B)+=A=Y/N(<A(,F3>,G:DOK(6()-1?\,W=/7B:"
M=2"953D25".=.$`53H``8Z11(`U`!T1/F<6<D9CRI@RT+[Y"8<'!.5)E&7?7
M7BPLC]\*P8Q\FHWC50D$3'*J9VR034V;A&A_;31$HS_7/_9/ZE7^_HB^='W-
M;@-%]R_FN)1J(9-@P-2@[3#C6WAH:E:"-!I[1#6'JL9GWO6OGSSVEU53<GF4
M"2'&'I!2(`ND3I@!B;BG*&XIO,4Q1#J4Q1"ABB`^'AJLN"TE[U+1NS9'$#I_
MLI6V).XES%PA"DMW&>?KU@;63*FDUAWI&-R(HE1#8DV:/[D!<L:U1*&Q,A``
MB9``H=`U5;/FL;D:XA@.Q;S0<V=66Z4),OO`P8X$_N+6^7^5N=.0<W]^YDRA
M<^09%N`&;)RBY$X5D)0H1)"T&U(APNB'E!ZF4/4IN#H.I7SIDP#O"2`L;JGF
M!JFXRV]X'NPPB>.WZBOQ-RSSG@56=<8AR3<&.3W<BQ&Y31)47:<TC%)"@9N\
M5/%*J,!4*/U0.;;[]2RILQCB6DM)P\V]6&FM;:FM\\3*?/L@[&&W=BS$+3,A
M>#B45D5WJB[A=\\6DW?PZXKJ.9AV\5D3R1W/HM_65%9<1$=A>O3V:E&Q4WZP
MU(RZ39X:\L+R=^^'V5OR[.9W)'(F/&&*+ZRU>ESXWC_N3[OLEV2%6CD$K=,X
M%!(IA3^]#%*+H/KF$>GEZ`&JIFS7,[LDY!L'I^4JO<-=ZHJZ82(/R#='A&'U
M.D^E95N5W)%]AU'`;O(-Y.L+1"2"![#12A_NEDO4RS;T"KIFF#`H93><!,)0
M.8=E`U+WC\G=Q]WMATK)R]?:H-AE6N#^[:#A$[3O]A:536GA(00B)E7R@&\$
M:^`4`*K&W5`/=T]VI=BT:94:FJYI<6/B3Q_LKU=FJ3I9TKA>'DTFZ,//$%=<
MY$2`9>/5(("0#4'I[?;JWE_\:(="VJPT=TF5+7U33WD<4]]V;;7N7/N.L28N
MAUSL[4M1"X92^Y%,HA\!&DNF65;H$/0"?$N5`V[:@.T0&E-;BX^XB5[/Y:4,
MW++B-RF36U"Q]NPD?!Q38K5A&-TVK5(M/\TF4"E4-3]=6FX?I'6(X]:]'26Y
M)8:N]T51)BYIF.7B-R=$FXW_`//^7P42(($5.@>QIDBYDU:@*9DTC"/3QT11
M&.T?ECN]69Q"@[9X4\>,+9)PH%_WT,5<N0;R0A9=27>32HR8K&?*)`J:*(@1
M1)(*^JH.VH!HB4/B?!O)#MJVWSQ[J'-B5LF+SCE2S']O6'8%L+L7;1]D.^)5
MD-I/I46KE4C9VUEVR:)6I0H)?M!&I=$3-T=DBQ)3ME9!X\7/Q\Y3R_)>^LM!
MR2/G\,;NC6_-7;'.UWS99"<!L*R4)-03MVZ.(=*RAAZU'1$]7G[ENSYD?+H7
MG>\C().[^M2$L[&V5TS/#*J-KPM&<C6DF\<+E#>52<8))N-M.HJ"'7QT1<+B
MGECOJ/\`B!ANQL!<:\`*8N5Q?'QN/[VF[T%K,N[0D&KAG'O'+9=`R:"S<5/4
MZT$2A]&B)'7)OMQ9PX`=H+.9\KS#"XKVS#R-PW>.5HJS7XKP-MVS&N+G2(@"
MS5FLHHFG<,PGM,4M`4$HC0`$=$2R^$F"^\C=W%#!-P\>NX)QOM?$:V*X!+'M
MJ+6<$P^MM@:*(1K$7*LK&$^+G&K@U5#"<*4$!ZCU(CO66ER-LKM0X)MCE9DV
MW<Q9W:9XMY:Z,B6G#`PMR17-*%-&-F,,F=L0YR@*9=HB3P-U#1$GWG)F[O9<
M;^'%J.\YY`P*3CEE:V;3QO*7'B^QCK3%GV5=5J(PZ;"XUCO#?=XN(QX!%'1`
M,!35I40IHBD6]J+C/97$WA;AO']AWTQR&SN=D&17MY1HI_=ESKW4F9XL2';@
MH;X<(ULLV(K2@CZ0U"O0"+7G?7\W:RY1@7S#^%(L/+YNH3+4?9]&B*/ESDZ_
M+W=L?R>H`9&L^J=-V\-V2`$@A[=X#2GMKHBW#FZ,?]K'.:>:(1*;:\..XGQD
MDK5R+;C9E6%Q]G%YAPK>/?\`HD#:GZSGJB`B451DG)0K\*4-$3>1F%RNOEVY
MQ2'(\5C&G-ER\N4B6]112$46F`A5*E`1(BBHHGN$:`41"NB*;#V_)^Q9;A9Q
MB<V+(1*EMHX=LMNW)'.VI4&KQNP03E4ETB*U26+(D5%0!#=NJ/MT1+3(Z:J`
MD*3A`Y5@,*(D53,"I2#0XI;3"!P(/0:5IHBSZ(F,^0O88X9\E,UY$S]D"Z,W
M1][93G(^?NQO;%\1<)"*2D?!EMU#8W"W%3=&P4J)Q$3:Q<UK7&+XQBN<W_EE
M;;S/-1/Q)Q(AY]N<;X;!T+49?EH>`I2@7\;\F0`H`'_FE%4"@4Z!^%/`-5LK
M.)BL>>4NG9@@6#^E_$5H_+1\`R]1OKDR'Y<H1H_^%=3!C3LBJ!Y*:9F#V1Z'
M_P`55_Y:+@)[;XY,A]/]J49^;PM74,C-Q*G=R<TY,[+VB'W_`.*@/EHN`GLO
MGDR/_P"48P.OY[5TRMWDJ#>36FI7L,'H?_%5`^6EX`F$2A?/)K<'ORC&4K]'
M_P`J:B9<,3&"NYO)[3;I0BP9N/;_`(BO_P"6KX$HE\U\\FRE+X`7*,8/O'V6
MO[]0R-)@TJWI>3FG<\7,!Z.W_%65/Y;'@<!`$N0>4*2=*@4N5F!`J/4?*6UA
M`*CJ!9`Y1M59O)_3C*DG((??_B*\/EL^!YJB&1.48TKT_M98A_X5T+",#Y?"
MKZ;RPT[)E1;+;$#[?\18#_+=<$P%-/\`M#Y3E*90*&1RM'F,3>!R")S_`(5K
MZ8TI2FJ+)0%;'$G!6,CE19IS_%RP!Z=W7,3HW"7A!A/@SC`V,,+,YLT6[EWL
MA(3MTRR$W<4FX,4J'KN)%NS8D,!DT2B!?3"@^-=;'-?%N6/9`6WVW3<BT-]R
MV!`\OK%+7;"!BF,7U1*(T`RHUW;>FXH>(%'^75A\JV!CLS8KDZ*=:SS%8+/*
MV,+_`,82;]S%Q>1+*NJR9"0;?"B9HVNB%=PJBP%<@;<L0KP13VA];Q]FB),W
M`_A+97`/`K;`%@71=5Y0J%R7%<R<_=YV:DF#RXW`.'31`&I0`C-$2T3`>M-$
M7@>X!V\+([A5M8XL7)F0KWM&Q<>WK&7NXMNV5&B36ZI.*362;MYD'@&368)$
M7,I0.N\H?3HB7#'0D?;]HM;3BXS=;T+;K2VXF$4&+.W&)BXSX!"-6)3T_2<)
ME*Q,2@AY/<(B)$RO`=B[!5K8AY<8%@<XY1BL5<KI*%NB2M4A()-/%TK$R:KA
M&3LY38GZ**K=(C3J``)4@T1.W\;<-0O';"F+<%P$Q)3\;B^S8JT6<S+J,CS,
MFPBDUR-9"7%`:F4<`KTV!0#?E'1%[?+.,;'S-CJZ\7Y)MQC=ECWI%J0UQP,B
M4#M7C!=1,QCF*;IZK-0A5DQ]BB91T1,%(?+JX<ME:28XCY>\M\.VPL+H\7:5
MC7VO&VW#M7AC'508LR*%()414\@=/`-$2GLL]H*P<T<*<><+[YSYFBXX+'%]
M,+\8Y5N20"4OR>>LGP/"1DN_54*;[O$WE&@_5]FB)=V6^,N.LY\:9GBG?Y'$
MM84YCF+QVLH\224F6AX2-(RB;D9BN!DPEV2L41TB8>GJ$`?"NB+P'!3AJUX.
M8.CL"PF5K^RU;4#,OI*SY6_DX@9JW(]ZN55Q!1ZA"[ONQ,`$@=*E*8:4$=$7
ML>9'%^U>9?'B^^-]Y3TU:%MY%CFQ'UQVJ)4Y-H9F[(L8"[J$.!@+UW#0WMT1
M(DRYV@\1YAX1X!X.3>4<BPUEX!GH6X(&Z8A*'^_YDT8[F"(_$AZ?II;B3!ZB
M01$!IX^PB51R4X18@Y1\3#\2<HR<JO:4?!V7$PET-U-]VPDI:*#=&V;F04/L
M%.YDA2W[O'<83>W1%I;C)VQ,%<;.)M[<.IM><SABN^[AN2Z+I+>H(-7;IY<C
M\M8N,);QD3MS6^)`.40J?<`"(^(:(D1I?+I88MQPY;XDY@\QL26B[665;V?9
M.3WC:%8'55.I0B1EBB)4MVT*]:!UZZ(EO6)VSF%A2/#E\GRAY&3(\2#7X@W8
K25WN%6>:1O:2<RRB.4MIC"_0B3+;4*U\I0Z^S1$Z)ZQO<T_]]-_H]$7_V3\_
`
end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
