COLI held the Five-year HK$2,600 million Revolving and Term Loan Facility Signing Ceremony 2006-09-29

China Overseas Land & Investment Ltd signed a five-year HK$2,600 million revolving and term loan facility at 50/F China Resources Building on 29th September 2006. Mr. Kong Qingping, chairman and chief executive of China Overseas and CFO, Mr. Wu Jianbin attended the ceremony.

The Facility is jointly offered by 11 famous banks namely the Bank of China (Hong Kong Limited), Hang Seng Bank Limited, The Hongkong and Shanghai Banking Corporation Limited, Industrial and Commercial Bank of China (Asia) Limited, China Construction Bank, Hong Kong Branch, Bank of Communications Co. Ltd, Hong Kong Branch, The Bank of East Asia, Limited, Calyon, Hong Kong Branch, CITIC Ka Wah Bank Limited, DBS Bank Limited, Hong Kong Branch, Standard Chartered Bank (Hong Kong) Limited.

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The original amount of the syndicated loan of the Company was HK$2,000 million. Because of the warm response and strong support from the banks, the club loan was subscribed over HK$4,000 million. In view of the support from the banks, the Company has decided to extend the amount of the club loan up to HK$2,600 million. This is the largest club loan for China Overseas since its establishment. The proceeds will be used for the property development of the Company.

On behalf of the board of directors, all the shareholders and the staff of China Overseas, Mr. Kong Qingping expressed sincere appreciation for the banks that participated in the club loan and provided long term and strong support to the Company.

He said that as a leading listed company in the domestic real estate industry, China Overseas has commenced a rapid growth. During this year, the share price recorded successive breakthroughs and the market capitalization of the Company

achieved historical highs with the highest reading reaching HK$ 43.9 billion, which reflected that the outstanding brand values, quality and management as well as the future development of the Company have been well recognized and received by the investors and the international capital market.