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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G/A
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
U.S.-China Industrial Exchange, Inc.
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(Name of Issuer)
Common Stock, $.01 par value per share
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(Title of Class of Securities)
90329W 30 2
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(CUSIP Number)
Check the following box if a fee is being paid with the statement [ ] . (A fee
is not required only if the filing person: (1) has a previous statement on file
reporting beneficial ownership of more than five percent of the class of
securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such class.)
(See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
<PAGE>
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CUSIP No. 90329W 30 2 13G PAGE 2 OF 3 PAGES
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1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Roberta Lipson
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
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NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 95,250
OWNED BY ----------------------------------------------------
EACH
REPORTING
PERSON 6 SHARED VOTING POWER
WITH
5,000
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7 SOLE DISPOSITIVE POWER
95,250
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8 SHARED DISPOSITIVE POWER
5,000
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9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
100,250
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10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
[ ]
N/A
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11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
11.85%
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12 TYPE OF REPORTING PERSON*
IN
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*SEE INSTRUCTIONS BEFORE FILLING OUT!
<PAGE>
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CUSIP No. 90329W 30 2 13G PAGE 3 OF 3 PAGES
--- ---
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Except as to Items 2 (e) and 4, no change has occured with respect to
the answer to any items of this Schedule from the information last reported in
respect of such item.
ITEM 2(E). CUSIP NUMBER: 90329W 30 2
Item 4. Ownership. As of December 31, 1999:
(a) Amount beneficially owned: 100,250 shares of common stock.
Includes 95,000 shares of Class B Common Stock held by Ms.
Lipson and 5,000 shares of Class B Common Stock held by Ms.
Lipson as a trustee for the Ariel Benjamin Lee Trust. Such
Class B Common Stock is convertible at any time into Common
Stock on a share for share basis. The preceding calculation
takes into account the Company's one-for-eight reverse stock
split of its Common Stock and Class B Common Stock,
effective February 26, 1999.
(b) Percent of class: 11.85%
(c) Number of shares as to which such person has:
(i) sole power to vote or direct the vote: 95,250
(ii) shared power to vote or direct the vote: 5,000
(iii) sole power to dispose or direct the disposition of:
95,250
(iv) shared power to dispose or direct the disposition of:
5,000
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.
February 12, 2000
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/s/ Roberta Lipson
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Signature
Roberta Lipson
Chairperson, Chief Executive Officer and President
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Name/Title
