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(12 January 2011) China Overseas Land and Investment Ltd (“COLI” or “the Company”, Stock Code: 00688) announced that the property sales in December amounted to HK$8.4 billion and the total GFA of property sold reached 594,800 square meters, representing an increase of 199.3% and 198.9% respectively from those in December 2009. From January to December 2010, the total property sales amounted to HK$67.1 billion and the total GFA sold reached 5.3 million square meters, representing an increase of 40.4% and 11.2% respectively as compared to the same period of last year.

By the end of December, the Yangtze River Delta Region (Shanghai City, Ningbo City, Suzhou City, Hangzhou City and Nanjing City) realized the strongest property sales – its sales revenue amounted to HK$16.2 billion, an increase of 41.2% as compared to the same period of year 2009. The pan-Bohai Rim (Beijing City, Tianjin City and Jinan City) recorded the strongest percentage growth in property sales – its sales revenue amounted to HK$11.4 billion, an increase of 84.5% as compared to the same period of year 2009. The Northern Region (Shenyang City, Changchun City, Dalian City, Qingdao City) achieved the strongest in both GFA sold and percentage growth in GFA sold – its total GFA sold amounted to 1.5 million square meters, an increase of 66.5% as compared to the same period of last year.

The company acquired one new project in Guangzhou in December with an attributable GFA of 76,593 square meters. The land premium payable was 1.17 billion yuan. Through China Overseas Grand Oceans Group Ltd. (Stock Code: 00081), the company acquired two projects in Guilin and Yinchuan in second half of 2010, with an attributable GFA of 159,000 square meters and 2.3 million square meters respectively. The land premium payable were 230 million yuan and 2.79 billion yuan respectively. The total new land acquisitions for the company amounted to 9.2 million square meters and the attributable portion was 7.7 million square meters by the end of December 2010. Currently, the Company has a total land reserve of 38.6 million square meters which is sufficient to meet the requirement of the Company’s development in the coming 4 – 5 years.

Note: In view of the uncertainties involved in investment and sales process, there may exist discrepancies between the above figures and those disclosed in our regular reports. As such, the above is only for reference purpose.