Torch Executive Services Ltd. Announces Name Change to Harbin Electric, Inc.; Stock Symbol Change to HRBN and Stock Dividend

NEW YORK--Jan. 2, 20056, 2005--TORCH EXECUTIVE SERVICES LTD. (OTCBB:TESV) (OTCBB:HRBN) today announced that it declared a stock dividend of one-half share on each share of its common stock outstanding. The stock dividend is payable on January 27, 2005 to all record holders on January 26, 2005. The company also announced that its name was changed to Harbin Electric, Inc. as of today, and the company's new ticker symbol is HRBN. Trading under the new symbol begins today as well.

The company recently had entered into an Agreement and Plan of Merger through its wholly owned Delaware subsidiary, Torch Subsidiary, Inc. with Tech Full International, Inc., a Delaware corporation, and Tech Full's shareholders. Pursuant to the agreement, Torch agreed to issue to the Tech Full shareholders 8,000,000 restricted shares of common stock in exchange for all of the issued and outstanding shares of Tech Full. The company will have 15,000,450 shares of common stock outstanding after the stock dividend.

Harbin Electric, Inc. (website: www.harbinelectric.com) is headquartered in Harbin, China, and manufactures, researches, sells and services linear motors (LMs) for the domestic and overseas markets. LMs in concept perform similar functions to rotary motors, but differ because LMs are flat in structure and can be configured into a number of forms. LMs also use the principles of magnetic properties to induce linear forces that range in power suitable for all types of applications. The company has domestic patents for commercial applications of LMs. Habin Electric LMs represent a significant improvement over traditional electric motors based on design, energy output, energy efficiency and precision movement. Harbin Electric's products have applications in numerous industries, including the oil, postal, transportation, logistical and packaging industries.

This press release may contain certain forward-looking information and statement concerning the company's operations, performance and financial condition. These statements are based upon a number of uncertainties and contingencies, many of which are beyond the control of the company. Actual results may differ materially from those expressed or implied by such forward-looking statements. This document is not intended to be and is not an advertisement for any securities of the company.