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Hong Kong Nov. 21, 2006 — China Overseas Land & Investment Ltd. (Thereafter called “China Overseas”) is pleased to announce that the Board and Mr. Kong Qingping, Chairman and CEO, have both been selected as an Awardee for Directors Of The Year Awards 2006 in the category of Listed Company (SEHK-Non-Hang Seng Index Constituents): EXECUTIVE DIRECTORS and an Awardee for Directors Of The Year Awards 2006 in the category of Listed Company (SEHK-Non-Hang Seng Index Constituents): BOARD OF DIRECTORS respectively by The Hong Kong Institute of Directors.

The Panel of Judges commented that Mr. Kong is a diligent, devoted corporate leader who was not only capable of maintaining an effective Board but also forged many results-oriented measures toward improving the corporate governance. The Board was prized for its endless effort in promoting corporate governance and management integrity.

The corporate objective of China Overseas is to enhance the shareholders’ value, employee’s value and to raise the level of responsibility toward the public and the society as the company grows and prospers. To achieve such high-level corporate governance, the operations of The Board and the management must be in conformity with the laws and regulations and maintain a high standard of ethical integrity. China Overseas has put in place a well-functioned Board under which there are three committees namely, nomination, audit and remuneration committee. All Board members, including three independent members are highly experienced and very professional. The checks and balances are well sustained through the smooth operations of The Board.

China Overseas will make full endeavors to promote the openness, transparency and high standard of corporate governance and take best efforts to communicate with shareholders and the public and accept their supervisions to promote the consistent growth of the company and maximize the return to shareholders.

The company, led by members of the Board with vision and prudence, will strive to become China’s benchmarking blue-chip company in the property sector and pursue the highest international standard of corporate governance.