In Jun 2008 the company sold property with a total area of 448,000 sq. metres, a decrease of 38.0% YOY, and achieved sales revenue of RMB 4.37 bln, a decrease of 22.8% YOY. In 1H 2008, the company sold property with a total area of 2,658,000 sq. metres, an increase of 15.0% YOY, and posted sales revenue of RMB 24.13 bln, an increase of 38.1% YOY.
There may exist discrepancies between the above-mentioned data and that disclosed in periodical reports.

In addition, the company has invested in the following two new projects since the disclosure of its sales briefing for May 2008:
1. the Suzhou Jingji Lake Road project
The project covers an area of 47,000 sq. metres and the company will pay RMB 181 mln in return for a 51% stake in the project.
2. the Shenyang Yeqiao project
The project covers an area of 226,000 sq. metres and the company will pay RMB 1.24 bln in return for a 100% stake in the project.

Board of Directors
7 Jul 2008

Source: Securities Times

Date: 7 Jul 2008

CN01/ZZ/DM/AR/KM