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In previous papers we have introduced a new dynamical model of Ising spins: the two-component (TC) model. In this paper we formulate a mean-field version of the TC model by putting it on a complete graph. With such an approach we are able to describe the kinetics in terms of a one-dimensional stochastic process with hopping probabilities depending on the magnetization. This allows us to understand the differences in relaxation between phases observed previously in computer simulations for the TC model on the square lattice