Jan 19, 2010
Press Release

Plans for the Development of Lu Zhu Commercial Project and Acquisition of Two Development Sites in Chongqing’s Prime Central Business District

• Prime land bank in the heart of Chongqing Yuzhong CBD – The most affluent district in the world’s most populous city
• Lu Zu Commercial Project - Grade A office and retail development project in the heart of the Chongqing Yuzhong CBD with GFA of approximately 1,480,000 square feet (“sq ft”)
• The Company intends to acquire two new sites that have a combined GFA of approximately 2,500,000 square feet (“sq ft”) through Shiny Profit Enterprises Limited, these land parcels will be part of the prime financial district that the Chongqing Government had earmarked to develop
• Situated in the core CBD of Chongqing city, the land parcels will be used for the integrated development of high end office, retail and residential properties

The Board of Directors of Ying Li International Real Estate Limited (the “Company”) is pleased to announce that the Company intends to setup a wholly owned subsidiary via an acquisition of Shiny Profit Enterprises Limited in the BVI, with an initial registered share capital of USD$10,000.

The Company intends to acquire two potential prime sites located in the Chongqing Yuzhong CBD (sited along Wu Yi Road, designated as the new Financial Street) through Shiny Profit Enterprises Limited. Shiny Profit Enterprises Limited was also intended to be used for the purpose of developing the Lu Zu commercial project.

The Lu Zu commercial project is centrally located at the junction of Minsheng Road and Datong Road Yuzhong District. This parcel of land has a site area of approximately 44,600 sq ft and the Company intends to construct a building for commercial and office uses with an estimated GFA of approximately 1.48 million sq ft.

The two new sites that the Company intends to acquire are ideally located in the Chongqing Yuzhong CBD area that was designated as part of the financial hub that the Chongqing Government plans to redevelop. The municipal government had earmarked RMB600 billion to reconstruct and develop the city centre as part of its effort to make Chongqing CBD a financial hub by 2015.

Commenting on these potential acquisitions, Mr. Fang Ming, CEO of Ying Li, said: “We believe the successful acquisition and development of these prime commercial sites will greatly enhance our presence in Chongqing and reinforce our leadership position as the largest commercial landlord in the CBD of Chongqing.”

Mr Fang added, “This will be the first phase of the development of the Wu Yi Road Financial Street and we will work closely with Chongqing Government. We are confident that the successful acquisition and development of these two sites will contribute positively to the Group’s future performance.”