The company announced that it will acquire a 51% stake in Anhui DMEGC Magnetic Investment Co., Ltd. held by Hengdian Group DMEGC Magnetic Limited Company for RMB 280 mln.

Anhui DMEGC currently has only one asset, an integrated tourism development project located in Zipengshang Mount Scenic Spot of Feixi County, Hefei City. This project has an area of 2 mln sq. metres with a planned construction area of 460,000 sq. metres. A golf course has been built, whose ownership and management rights belong to Anhui DMEGC.

Source: Shanghai Securities News

Date: 30 Jun 2008

CN01/RZ/MZ/AR/KM