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PURCHASE AGREEMENT
Cathay Securities Fund, Inc. (the "Fund"), a Maryland corporation, and
Xxxxxx X. Xxxxx (the "Purchaser"), hereby agree as follows:
1. The Fund hereby offers and the Purchaser hereby purchases ten (10)
shares of common stock (hereinafter known as "Shares") at a price of $ 100 per
Share. The Purchaser hereby acknowledges purchase of the Shares and the Fund
hereby acknowledges receipt from the Purchaser of funds in the amount of $1,000
in full payment for the Shares. It is further agreed that no certificate for the
Shares will be issued by the Fund.
2. The Purchaser represents and warrants to the Fund that the Purchaser
is purchasing for the Purchaser's own account and not with a view to or for sale
in connection with any distribution of the security.
IN WITNESS WHEREOF, the parties hereto have executed the Agreement as
of the 14th day of July, 2000.
CATHAY SECURITIES FUND, INC.
By: /s/ XXXXXX X. XXXXX
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Title: President
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By: /s/ XXXXXX X. XXXXX
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Xxxxxx X. Xxxxx
