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(11Aug 2008) China Overseas Land and Investment Ltd (“COLI” , stock code: 00688) announced that the property sales in July amounted to HK$1.93 billion and total GFA of property sold in July reached 172,000 square meters. From January to July 2008, the total sales of properties amounted to HK$17.74 billion, an increase of 60.7% as compared to the corresponding period of last year; total GFA sold amounted to 1.64 million square meters, representing an increase of 39.5% as compared to the same period of last year. The real estate business in Bohai Rim Region maintained the strongest growth from January to July, with sales revenue and total GFA sold amounting to HK$4.32 billion and 450,000 square meters, an increase of 297.1% and 198.7% respectively as compared to the corresponding period of year 2007. Overall speaking, the sales revenue for the first seven months of 2008 outperforms the same period of last year, and it meets also the company’s sales plan as set at the beginning of the year.

In July 2008, the Company newly acquired two parcels of land in Jinan, which offer GFA of 166,000 square meters and 324,000 square meters respectively. The two parcels of land are located on the eastern side of National Games Main Stadium and Jinan’s New Administration Centre in Lizia District, which is the core district for the city’s Olympic Sports Centre. This district will be developed into a premium and multi-functional area for political, cultural, sports, commercial and residential use. The land that COLI newly acquired are planned to develop into high-end residential properties. For the first seven months of 2008, the newly acquired land provides an aggregate GFA of 2.795 million square meters (attributable interest of 2.072 million square meters). Currently, COLI has a total land reserve of 25.27 million square meters, enough for meeting its requirement which is set in such a way to ensure annual profit increase of over 20% in the coming 4 -5 years.

Note: Due to the uncertainties that may occur during sales and investment activities, discrepancy may arise between figures mentioned above and those announced in the company’s regular financial reports. The above figures are for reference only.