China Overseas Land & Investment Ltd. announced its 2006 Annual Results 2007-03-21

On 21 March 2007, China Overseas Land & Investment Limited ( Company ), the listed arm of China Overseas Holdings Ltd., announced its audited consolidated results of the Company and its subsidiaries (the Group ) for the year ended 31 December 2006. During the period, turnover increased by 57% to HK$10.

9 billion, with PRC Property Development business making up the greatest proportion and increased to about 87% of the turnover. Businesses in the PRC contributed 96% of the turnover. Prof its attributable to shareholders increased by 55% to HK$2.37 billion. Basic earnings per share increased by 48% to HK35.

5 cents. . Final dividend of HK6 cents per share is proposed, together with the interim dividend of HK4 cents, dividends declared for the year was HK10 cents per share, an increase of 43%.

Mr. Kong Qingping, Chairman and Chief Executive of the Group reviewed that in year 2006, the Group underwent an effective consolidation of our businesses in accordance with its strategic plan, focusing its efforts and resources to accelerate the development of real estate business in China. The turnover of China real estate business increased by 62% to HK$9.

5 billion, the operation profit margin increased by 4% to 25.0%, thus resulting in the gross profit contribution increased by 69% to HK$2.36 billion. The performance of other businesses in the Group was also good. The consolidated net profit of the Group sustained an increase of over 40% for four consecutive years or a compound increase of 41.

5% for the past 5 years, fulfilling the promise to the investors. During the year, the share price of the Company s share performed well, thus enhancing the value for the shareholders of the Company.

The corporate strategy and goals of the Group have been clearly set and corresponding measures will be rightly implemented to ensure satisfactory performance. The Board is confident about the prospect of the Group in 2007. Looking ahead, the Group can seize opportunities and meet challenges ahead. Through its diligent work, persistent innovation, flexible development strategy, reinforced nationwide branding strategy, the Group can persistently enhance its integrated capability in business development, risk management, finance and treasury management, thereby seek to achieve the target of over 20% annual increase in profit and to maintain its pioneer position in the China real estate industry.

The Group also insists on bringing out the best value of its human resources. With emphasis on sustainable adding value and creating a harmonious and win-win operation and working environment, the Group is committed to enhance shareholders value, raise its standard on corporate governance, moral value and corporate citizenship and improve its core competitiveness through persistent innovation.

Its ultimate goal is to attain a win-win outcome for the Group, its shareholders, business associates, staff members and the community. The Board will endeavor to develop the Group into an ever-green enterprise.