Yuexiu Property Acquired Nanta Street Land Parcel

Strengthening Business Development Capability in Shenyang
Total Land bank Increased to 1,054 Square Meters

(March 22, 2011, Hong Kong) Yuexiu Property Company Limited ( Yuexiu Property or the Company ; HKEx Stock Code: 123) announced today that the Company acquired a parcel of land located at Nanta Street, Shenyang, Liaoning Province ( Nanta Street Parcel ) through a wholly owned subsidiary. The acquisition price is RMB2,150,000,000 and the acquisition price per square metre amounts to RMB4,085.

The Nanta Street Parcel is located in Dongling District, Shenyang, Liaoning Province and is at the junction of Nanta Street and Shenshui Road. It has a site area and permitted gross floor area of approximately 131,500 and 526,000 square metres respectively. The land parcel has been approved for mixed use development, whereby 58% of the area will be used for residential purposes while the remainder will be used for commercial and other purposes.

The Nanta Street Parcel enjoys a breathtaking panoramic view of Wuli River Park, the largest riverside park in Shenyang, and Hun River to its south. It is also surrounded by a number of niche markets specializing in the sale of shoes and daily necessities, providing the area a vibrant business atmosphere.

Mr. Lu Zhifeng, Chairman of Yuexiu Property, comments, The acquisition of the Nanta Street Parcel is proof of our determination and ability to attain our corporate strategy of 'having home base in Guangzhou and strategic expansion nationwide'. It also raised our land bank in Shenyang from 344,000 square metres to approximately 870,000 square metres.

With a series of governmental, strategic plans in place, Shenyang will be developed into a centre of equipment manufacturing for China and a commercial, logistics and financial centre for Northeastern China. The city, therefore, is believed to be delivering promising prospects for commerce and the real estate market.

Yuexiu Property has seized the opportunity to acquire this parcel of land in order to strengthen the Company's business development capability in Shenyang, hence capturing the potential and opportunities in the city.

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About Yuexiu Property
Yuexiu Property Company Limited (HKEx Stock Code: 00123) was listed in Hong Kong in 1992. The Company s main business is property development with its operations mainly concentrated in the Guangzhou area, and gradually expands to Pearl River Delta, and branching out to selective locations in the Yangtze River Delta, Bohai Rim Economic Zone and Central Region.