Yuexiu Property Acquires Two Plots in Southern District of Panyu

Hong Kong, 31 August 2010 Yuexiu Property Company Limited ( Yuexiu Property or the Company ) (HKEx Stock Code: 0123) announced today that the Company acquired, through a 95% owned subsidiary, two parcels of land in the Southern District of the central city area of Panyu, Guangzhou, Guangdong Province (the Panyu Southern District Land 4-2 and the Panyu Southern District Land 5-3 , collectively the Panyu Southern District Lands ) at a open land auction.

The Panyu Southern District Land Lot 4-2 has a permissible building site area of 179,000 square meters and a permissible gross floor area of approximately 327,000 square meters. The consideration amounts to RMB2,380 million. The acquisition price per square meter amounts to RMB7,282. The Panyu Southern District Land 4-2 is situated in the Southern District of the central city area of Panyu, Guangzhou, Guangdong Province. The land has been approved for residential, commercial and financial use.

The Panyu Southern District Land Lot 5-3 has a permissible building site area of 49,686 square meters and a permissible gross floor area of approximately 89,000 square meters. The consideration amounts to RMB495 million. The acquisition price per square meter amounts to RMB5,535. The Panyu Southern District Land 5-3 is situated in the Southern District of the central city area of Panyu, Guangzhou, Guangdong Province. The land has been approved for residential use.

Mr. Lu Zhifeng, Chairman of Yuexiu Property, said, The Panyu Southern District Lands are situated in the emerging upmarket residential area in the Southern District of Panyu which has a rich residential atmosphere. They are close to Binjiang Avenue and Binjiang Green Land that are under planning and command a panoramic view. The investments in the Panyu Southern District Lands are in line with the Company s objective of actively increasing its land bank and will speed up the development of its property business while strengthening the Company s capability in sustainable development.

The Company was listed in Hong Kong in 1992 and is one of the top 10 integrated property developers in Guangzhou. The Company s main business is property development with its operations mainly concentrated in the Guangzhou area.

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