Mr. Zhang Hua is appointed Chairman of Shanghai Forte

On 20 December, 2010, Shanghai Forte announced that Forte s president, Mr. Zhang Hua, would take up the post of Forte Chairman, and the current Chairman, Mr. Fan Wei would remain as the executive director of the Group.

Mr. Zhang Hua, 45, graduated from TongjiUniversity with a bachelor degree of architectural management, and he is an Engineer as well as a Certified Real Estate Appraiser. He previously worked for the Production and Infrastructure Department of Shanghai No.2 Commerce Bureau and Shanghai Shanglian Real Estate Co., Ltd. Mr. Zhang joined Shanghai Forte in 1999. He was the deputy manager of Shanghai Puhua Real Estate Development Co., Ltd., the general manager of Shanghai Forte Zhibao Real Estate Development Co., Ltd., the general manager of Shanghai Northern Region of the Company. Mr. Zhang was appointed executive president of Company in February 2009, and was appointed president of Company in May 2009. Mr. Zhang was appointed executive director in October 2009.

Mr. Fan Wei, the founder of Fosun Group, started to run Shanghai Forte in 1993. Under Mr. Fan s leadership, Forte grew from a Shanghai branded real estate company to a well-known nationwide company and it was successfully listed in Hong Kong Stock Exchange. Mr. Fan Wei became a co-president of Fosun International in June 2010, and is expected to better support property development business from parent company level in the future.

Forte has implemented a nationwide expansion strategy since 2005, so far it has entered into 13 cities and completed the allocation of three major strategic circles which focus on core major cities, regional central cities and Yangtze delta region. As of the end of November, Forte has successfully exceeded the full year sales target. At the beginning of this year, Forte initiated the dual-core strategic model of moving forward Development and Investment business, and in the next 10 years, Forte will strive to become a world class development and investment group.