Forte Announces Annual Results 2007 Turnover and Net Profit Attributable to Shareholders Surged 58.8% and 47.7% Respectively Reaching Record Highs

(9 March 2008 Hong Kong) Shanghai Forte Land Co., Ltd. ( Forte or the Group ; HKEx stock code: 2337) announced today its annual results for the year ended 31 December 2007.

For the year ended 31 December 2007, the Group s turnover and gross profit reached RMB3,977 million and RMB1,252 million respectively, representing increases of 58.8% and 30.2% over those (restated) of the last corresponding period. The increase in turnover was mainly driven by increases in sales of GFA and its selling price as compared to that of the last corresponding period.

The growth in sales income and the gain from disposal of part of the Group s equity interests in project companies during the period resulted in a profit attributable to shareholders of RMB711 million, representing an increase of 47.7% over that of 2006. Earnings per share were RMB0.281, up 44.8% from a year ago.

Financial Highlights

Commenting on the Group s latest performance, Mr. Fan Wei, Forte s CEO, said: 2007 is a year of rapid and steady growth. During the year under review, the Group sold gross floor areas ( GFA ) aggregating approximately 781,090 sq.m. (including those by joint ventures where the Group owns equity interests), up 30.

1% in total GFA sales attributable to the Company over the last corresponding period. To further extend our nationwide development in the PRC, the Group has proactively expanded its property development business into ten cities in the PRC, in which eight cities commenced property sales, namely Shanghai, Beijing, Tianjin, Chongqing, Nanjing and Wuxi in Jiangsu Province, Wuhan in in Hubei Province and Hangzhou in Zhejiang Province.

During the year under review, there were 40 projects (including joint venture projects in which the Group has interests) under development, with an aggregate GFA of approximately 2,530,402 sq.m.

The Group boosted its efforts in expanding its land bank pursuant to its development strategy during the year. Through proactively participating in government tenders and auctions as well as acquisitions of equity interests in other project companies, the Group secured a total of seven projects with a total saleable GFA of approximately 4.

75 million sq.m. On top of land bank for residential use, the Group also increased its land bank for offices, commercial and hotel uses. This accrual is pivotal to the Group s nationwide expansion and sustainable development strategy. As at 31 December 2007, the total GFA of the Group s land bank was approximately 9.

50 million sq.m. The land reserves are located in nine cities including Shanghai, Beijing, Nanjing, Wuxi, Hangzhou, Tianjin, Wuhan, Chongqing and Xian. The Group s current land bank is sufficient for development in the next four to five years, providing a solid foundation for its rapid development in the long run.

Looking ahead, Mr. Fan concluded: Uncertainties associated with the PRC austerity policies, market volatilities and tightening of monetary policies will remain major risk factors in 2008. We shall closely monitor the possible impact of China s austerity policies and conduct our market research on an ongoing basis, while strengthening our risk management and control.

The Group will persist in its strategy of developing regional projects in cities in three tiers: major cities, regional major cities, developed cities in the Yangtze River Delta. The Group is planning to increase its land bank by means of acquisitions or participating in land auctions.

In addition, adhere to the strategy of Focusing on development of residential properties with integrated development consisting of commercial and modern serviced properties as supplement , Forte will strive to improve its operation efficiency, strengthen its core competitiveness and enhance its brand equity through careful positioning of our projects. Regarding the planned issuance of A Shares, preparatory work in this regard has been basically completed pending official approvals from the China Securities Regulatory Commission and related government departments. The Group is actively preparing itself for issuance of A Shares. We believe the proceeds to be raised can further strengthen the Group s financial position and help maximize the return for shareholders.