Adding slaves to replication environment

[Dmitry Pal]

Hi,
I want to add additional slave to an existing replication environment. I read the reference materials about this, but am wondering if this approach would work:

Initial setup is a Master and one Slave.

On the Slave:
1) Issue "STOP SLAVE"
2) Record the binary log name and position using "SHOW SLAVE STATUS"
3) Create mysqldump.
4) Issue "START SLAVE"

Now on the new Slave that I want to add:
5) Set a unique server id in my.cnf
6) Start mysql
7) Import mysqldump from step 3
8) Issue "CHANGE MASTER TO ..." with binary log name and position from step 2
9) Issue "START SLAVE"

Thank you