Pursuant to a loan contract signed by the company with China Zheshang Bank Co., Ltd., Hangzhou Xihu sub-branch, the company will pledge the first to the fourth floor of the AB Apartment in Ruian Oriental Commercial Square, currently held by Zhejiang Wanjia Real Estate Development Co., Ltd., a wholly-owned subsidiary of the company, as collateral for a two-year RMB 100 mln loan application with China Zheshang Bank.

Board of Directors
19 Sept 2008


Source: Shanghai Stock Exchange

Date: 22 Sept 2008

CN01/BJ/JL/BT/KM