Forte s Contracted Sales in February Reached RMB 667M

On March 1, 2011, Forte announced its contracted sales for February. In February, the attributable contracted GFA was approximately 62,700 sq.m. with the attributable contracted sales amount of approximately RMB 667 million, which increased 165% and 106% respectively comparing to the same period last year. So far, in the first two months of year 2011, the accumulated attributable GFA and contracted sales are approximately 126,000 sq.m and RMB 1.36 billion respectively.

Some industry experts believed that the reasons for drastic decrease in transaction volume in major cities and the wait and see attitude in the market were due to dual impacts, which are 1) multiple macro policies carried out by government in January, such as new national 8 regulations, property tax trial and interest rate hike, and 2) Chinese New Year holidays in February.

Mr. Zhang Hua, Forte Chairman, expressed that facing the complex market environment, Forte had anticipated the policy change since last December and made strategic arrangements accordingly in advance, which initiated Boutique Product Strategy in 2011 , aiming to uplift the product competitiveness from all dimensions such as product positioning, planning and designing, as well as construction. After the release of new policies, Forte will continuously implement strategies of follow the market, reasonable pricing and fast selling and some of 2^nd and 3^rd tier cities has accomplished planned sales target in February.

Since the implementation of nationwide strategy in year 2005, Forte has entered into 14 cities like Beijing, Tianjin, Changchun and Changsha etc, as of the end of February 2011. The sales data of February indicates that the advanced layout in 2^nd and 3^rd cities has contributed steady sales performance for Forte.

In future, Forte will still stick to the strategy of follow the market , research market trend in depth, upgrade product quality constantly, discover end user demand, and strive for achieving steady result increase under the market regulations.