Longfor Properties signs RMB18 billion loan credit agreement with China Construction Bank(34088)

Longfor Properties signs RMB18 billion loan credit agreement with China Construction Bank

HONG KONG, 30 November, 2009 Longfor Properties Co. Ltd. ( Longfor Properties or the Group , SEHK Stock Code: 960), a leading property developers in China, announced today its subsidiary has entered into a credit agreement for a bank loan of RMB18 billion with China Construction Bank ( CCB ). The agreement was signed in a ceremony in Chongqing, which was attended by Mr. [-], [title] of [CCB], Madam Wu Yajun, Chairperson and Chief Executive Officer of Longfor Properties, as well as other senior management members and staff of both companies. Pursuant to the agreement, CCB will make available proposed banking facilities of RMB18 billion to Longfor Properties in the coming two years. The agreement signals the beginning of a long term strategic partnership between the companies and heralds in wider cooperation in areas including loans for property development, bank guarantees, bank acceptance bills, the underwriting of short term financing bills, medium term notes, corporate bond, syndicated loans and other financing and services. According to CCB, this is the second such agreement on this scale that the bank has reached with key clients, and it has made Longfor Properties the third property developer to have established a strategic partnership with CCB. Madam Wu Yajun, Chairperson and Chief Executive Officer of Longfor Properties, said, We are delighted to have joined hands with CCB. The RMB18 billion loan credit made available by the bank not only is a vote of confidence in our future development, it also demonstrates CCB s confidence in the development of China s property market in the long run. Last month, the subsidiary of Longfor Properties entered into a RMB18 billion loan facility agreement and a strategic partnership agreement with Agricultural Bank of China. Following the signing of agreements with both banks, Longfor Properties now has total credit facilities of RMB36 billion in the coming two years. Mr. Jeffrey Lin, Chief Financial Officer of Longfor Properties, said, The loan credit agreements and the recent initial public offering of our shares have provided the Group with ample funding resources and a solid capital base. Looking ahead, the Group will step up its drive to push ahead with future development plans in our bid to deliver greater value to our shareholders. About Longfor Properties Co. Ltd. Longfor Properties is a premier developer engaged in property development, investment and management in China, with a strong market position in the Beijing, Chongqing and Chengdu property markets, and with presence in Shanghai, Xi an, Wuxi, Shenyang and Changzhou. The Group serves a wide spectrum of customers, including the upper class, middle class and mass market. Its product offerings range from high-rise apartment buildings, low-rise garden apartments, townhouses, luxury stand-alone houses, as well as shopping malls and other commercial properties. For further enquiries, please contact Hill and Knowlton Asia Ltd.:- Gary Li / Agnes Suen Tel: (852) 2894 6239 / 2894 6251 Email: gary.li@hillandknowlton.com.hk / agnes.suen@hillandknowlton.com.hk

HONG KONG, 30 November, 2009 Longfor Properties Co. Ltd. ( Longfor Properties or the Group , SEHK Stock Code: 960), a leading property developers in China, announced today its subsidiary has entered into a credit agreement for a bank loan of RMB18 billion with China Construction Bank ( CCB ). The agreement was signed in a ceremony in Chongqing, which was attended by Mr. [-], [title] of [CCB], Madam Wu Yajun, Chairperson and Chief Executive Officer of Longfor Properties, as well as other senior management members and staff of both companies.

Pursuant to the agreement, CCB will make available proposed banking facilities of RMB18 billion to Longfor Properties in the coming two years. The agreement signals the beginning of a long term strategic partnership between the companies and heralds in wider cooperation in areas including loans for property development, bank guarantees, bank acceptance bills, the underwriting of short term financing bills, medium term notes, corporate bond, syndicated loans and other financing and services.

According to CCB, this is the second such agreement on this scale that the bank has reached with key clients, and it has made Longfor Properties the third property developer to have established a strategic partnership with CCB.

Madam Wu Yajun, Chairperson and Chief Executive Officer of Longfor Properties, said, We are delighted to have joined hands with CCB. The RMB18 billion loan credit made available by the bank not only is a vote of confidence in our future development, it also demonstrates CCB s confidence in the development of China s property market in the long run.

Last month, the subsidiary of Longfor Properties entered into a RMB18 billion loan facility agreement and a strategic partnership agreement with Agricultural Bank of China. Following the signing of agreements with both banks, Longfor Properties now has total credit facilities of RMB36 billion in the coming two years.

Mr. Jeffrey Lin, Chief Financial Officer of Longfor Properties, said, The loan credit agreements and the recent initial public offering of our shares have provided the Group with ample funding resources and a solid capital base. Looking ahead, the Group will step up its drive to push ahead with future development plans in our bid to deliver greater value to our shareholders.

About Longfor Properties Co. Ltd.

Longfor Properties is a premier developer engaged in property development, investment and management in China, with a strong market position in the Beijing, Chongqing and Chengdu property markets, and with presence in Shanghai, Xi an, Wuxi, Shenyang and Changzhou. The Group serves a wide spectrum of customers, including the upper class, middle class and mass market. Its product offerings range from high-rise apartment buildings, low-rise garden apartments, townhouses, luxury stand-alone houses, as well as shopping malls and other commercial properties.

For further enquiries, please contact Hill and Knowlton Asia Ltd.:-

Gary Li / Agnes Suen

Tel: (852) 2894 6239 / 2894 6251

Email: gary.li@hillandknowlton.com.hk / agnes.suen@hillandknowlton.com.hk