Yuexiu Property Acquires Nanhai Lands

Hong Kong, 10 September 2010 Yuexiu Property Company Limited ( Yuexiu Property or the Company ) (HKEx Stock Code: 0123) announced today that the Company acquired, through its 95% owned subsidiary, three parcels of land in Nanhai District of Foshan, Guangdong Province (the Nanhai Lands ) at an open land auction.

The Nanhai Lands have a total site area of approximately 30,000 square meters and a total permissible gross floor area of approximately 199,000 square meters. The consideration amounts to RMB1.35 billion. The acquisition price per square meter amounts to RMB6,767. The lands are approved for residential, office and commercial (including wholesale, retail, accommodation and catering) use.

The lands are located at the junction of Nanhai Road, the main road of Nanhai District, Foshan, and Nangui East Road, and are at the junction of Guangzhou-Foshan Metro Line and Foshan Metro Line 3, which is the core area of Nanhai District. The lands will be developed into a landmark city complex.

Mr. Lu Zhifeng, Chairman of Yuexiu Property, said, Foshan has a permanent population of approximately six million and ranked 3rd in Guangdong Province and 11th in China in terms of gross domestic product in 2009. With the implementation of the State s Programme Outlines for the Reform and Development of the Pearl River Delta Region and the forthcoming opening of Guangzhou-Foshan Metro Line in November, the link and urban integration between Guangzhou and Foshan will be enhanced, bringing a better business environment and promising prospects for the development of the property market.

The acquisition of the Nanhai Lands is an important step of the Company towards reinforcing the implementation of its property business strategy.

Together with the Nanhai Lands acquired this time, the Company has a total land bank of 8.81 million square meters to date.

Yuexiu Property Company Limited
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.