Media centre

(10 Nov 2008) China Overseas Land and Investment Ltd ( “COLI” or the “Company” , stock code: 00688) announced that the property sales in October amounted to HK$2.03 billion and the total GFA of property sold reached 217,500 square meters, representing an increase of 20.1% and 13.6% respectively from those in October 2007. The figures also represent an increase of 3.5% and a decrease of 1.6% respectively from those in September 2008. From January to October 2008, the total sales of properties amounted to HK$22.82 billion, an increase of 34% as compared to the corresponding period of last year; and the total GFA sold amounted to 2.21 million square meters, representing an increase of 24.9% as compared to the same period of last year. Overall speaking, the property sales for the first ten months of 2008 outperforms the same period of last year, and it meets also the Company’s sales plan as set at the beginning of the year. Besides, the company recently sold a non-core asset, achieving sales revenue of HK$ 1.33billion in accordance with our annual plan.

The real estate business in Bohai Rim Region and Western Region continued to maintain the strongest growth from January to October in mainland China.  Sales revenue and total GFA sold in Bohai Rim Region amounted to HK$5.56 billion and 588,200 square meters, an increase of 184.9% and 138% respectively as compared to the same period of year 2007. Sales revenue and GFA sold in Western Region amounted to HK$4.63 billion and 608,200 square meters, an increase of 34.6% and 26.1% respectively as compared to same period of year 2007.

The Company added a total of 2.8 million square meters new land reserve as of today in 2008. Currently, the Company has a total land reserve of 25.27 million square meters, which is sufficient to meet the requirement of the Company’s development in the coming 4 -5 years.

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