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BETHESDA, MARYLAND - January 3, 1995 - U.S.-CHINA INDUSTRIAL EXCHANGE, INC. (NASDAQ:CHDX), today announced the establishment of its first foreign subsidiary company in China.

The newly formed subsidiary, Chindex Holdings International Trade (Tianjin) Ltd., is a wholly foreign owned enterprise registered in the special economic Tianjin Free Traded Zone. Through the preferential policies of this free trade zone, U.S. - China, through this new enterprise, will, for the first time, have the ability to make sales of certain products directly to Chinese hospitals and endusers with a minimum of bureaucracy.

In addition, it will serve as a platform for other ventures in the manufacturing and distribution sectors.

U.S.-China Industrial Exchange, Inc., also known as Chindex, has been a leading American company in market representation and sales for Western business in China since its founding in 1981. Selling Western-made medical equipment is an important part of the company’s business.

The new subsidiary will also enable the company to assemble and manufacture medical products within its own facility in Tianjin’s custom bonded zone in the future.

The subsidiary obtained final registration from the governmental authorities in Tianjin on December 6, 1994 and began operations on January 1, 1995.

Chindex believes that the establishment of Chindex Holdings is a key component of its strategy for the continuing development of its core businesses in the China marketplace.

"This new venture will give us the ability to bill hospitals directly in local currency, a physical distribution center within China, and a national sales network utilizing a consortium of subdealers to supplement our extensive direct professional sales and technical service force," said Roberta Lipson, President and CEO of Chindex in Beijing.

"It is an important step in bringing our marketing capability even further into the regional areas of China," Ms Lipson added.

Since successfully completing an initial public offering in August of this year, Chindex has moved forward quickly with expansion plans which include the anticipated opening of new regional offices in China’s Northeast (Shenyang), East (Shangdong) and South (Hunan). The company currently operates representative offices in Beijing, Shanghai and Guangzhou. In addition to medical equipment, the company also sells mining and heavy construction machinery, and a variety of metallurgical and industrial process equipment.

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