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U.S.- CHINA INDUSTRIAL EXCHANGE, INC. ANNOUNCES
EXCLUSIVE AGREEMENT WITH
KENDALL HEALTHCARE PRODUCTS COMPANY

BETHESDA, MARYLAND - June 18, 1997 - U.S. - China Industrial Exchange, Inc. (Chindex) (NASDAQ:CHDX), the largest independent American distributor of Western healthcare products in the People’s Republic of China today announced an exclusive agreement with the Kendall Healthcare Products Company (Kendall) for the distribution of select Kendall product lines in China.

Under the terms of the agreement, Chindex will assume exclusive responsibility for marketing, sales, importation and physical distribution of select Kendall products in China. Kendall is a major worldwide producer of disposable medical supplies. Kendall is owned by Tyco International Ltd. (NYSE:TYC).

"Chindex is very excited about the agreement with Kendall," Roberta Lipson, President and CEO commented in Beijing. "We have proven our ability to reach the Chinese healthcare marketplace over the course of many years of investment in marketing and distribution resources on a nationwide basis. We will kickoff our marketing program nationwide with Kendall this spring. We are looking at a tremendous market potential for Kendall products in China."

Mr. Lawrence Gibbons, Vice President Sales and Marketing - Far East for Kendall commented on the agreement with Chindex: "Chindex is an excellent distribution company in China. They are a very impressive group that has established itself over many years in that market. The investment they have made in product distribution logistics sets them apart from others and makes them the perfect choice for Kendall in China. We are very happy with the agreement and have high expectations for great results in the years to come.

Mr. James Spear, Vice President of Products Distribution at Chindex, noted that Chindex will utilize the unique abilities of its wholly owned subsidiary company in Tianjin, China, to provide logistics and physical product distribution for the variety of Kendall products covered under the agreement. "The subsidiary is licensed to engage in both foreign and domestic trading activities in China; it will import the Kendall product in bulk directly into its warehouse facilities and deliver it to domestic customers throughout China for purchase in local Chinese currency, " Spear said.

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Chindex is a leading American company in select market sectors of healthcare and industrial development in the Greater Chinese marketplace including Hong Kong and Macau. It provides representative and distribution services to a number of Fortune 500 companies including Acuson, Johnson & Johnson and Volvo Construction Equipment. It also operates a private hospital corporation in China. With over fifteen years experience, 135 employees, and operations in the United States, China and Hong Kong, the Chindex strategy is to expand its cross-cultural reach by providing leading edge technologies, quality products and services to Greater China’s professional communities. Chindex is listed on NASDAQ under the ticker symbol CHDX.

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