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(10 Jan 2009) China Overseas Land and Investment Ltd (“COLI” or the “Company”, stock code: 00688) announced that the property sales for year 2008 amounted to HK$26.61 billion and the total GFA sold amounted to 2.71 million square meters, representing an increase of 19.3% and 25.4% respectively as compared to the corresponding period of last year. The property sales for year 2008 meets the Company’s sales plan of 2.70 million square meters as set at the beginning of the year. For January 2009, the total sales of properties amounted to 1.202 billion RMB and the total GFA of property sold reached 160,000 square meters, representing an increase of 60.0% and 149.7% respectively from those in January 2008.

The real estate business in Yangtze River Delta Region and Western Region realized strongest growth in January in mainland China.  Sales revenue and total GFA sold in Yangtze River Delta Region amounted to 217 million RMB and 21,540 square meters, an increase of 70.8% and 155.1% respectively as compared to the same period of year 2008. Sales revenue and GFA sold in Western Region amounted to 300 million RMB and 51,870 square meters, an increase of 159.9% and 286.3% respectively as compared to the same period of year 2008. The Pearl River Delta Region achieved strong sales in January as well.

The Company made no new land reserve in January 2009. 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:    (1) In line with the change of our basic accounting monetary unit to RMB, the property sales results will be announced in RMB from year 2009 onwards.

              (2) 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.