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Alias Born 03/31/2001

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Monday, 12/17/2001 8:38:19 AM

Monday, December 17, 2001 8:38:19 AM

Post# of 92667

Dear Shareholders:

The holiday season is with us again and I would like
to use this opportunity to wish you and your family
the Most Wonderful Christmas and the Most Successful
New Year of 2002. May Peace, Prosperity, Health and
Luck be your blessings in the days to come. May
Strength, Courage, Persistence and Patience always be
with you in time of challenges and difficulties.

Looking back at the last 12 months, I feel a great
pride in our achievements; yet, also a sense of
frustration over the share price. I have done my
best; and if my best is not enough to get your
investment where you want to it be, please accept my
sincere apology. A new management team is taking over,
and I do believe that they will be able to surpass my
achievements, and manage to bring HRCT share price to
the high level it deserves. Dr. Wallace Ching and his
institutional investors have the capability to do so
and I am sure that your 2002 Christmas will be the
time for a much happier and bigger celebration.

In this holy time, I would also like to ask you to
open your hearts and your pockets to give a little
something to the unlucky victims of the World Trade
Center attacks, of the Afghan war, of the degrading
Poverty and Hunger around the world. Thanks to them,
we know that how much we have been blessed with the
grace of God. Like a Chinese proverb said, ¡° If you
want happiness of a life time: help the next
generation.¡±

Finally, let me express our heart-felt gratitude for
your continuing support. You are the best shareholders
that any management team could dream of. Please extend
this support to Dr. Ching and his team. They are going
to make your dream come true.

Sincerely,

Dr. Alan V. Phan




" Success seems to be largely a matter of hanging on after others have let go." ~ William Feather

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