[Shanghai, 11 November 2005] Shui On Land (SOL) received the internationally renowned "Cobalt Tower Award 2005" from US Green Building Council (USGBC) in recognition of its contribution to environmental protection and sustainability.

This much coveted award aims to recognize the contribution made by property developers around the world towards environmental protection and sustainability. Earlier on, Phase II of Xihu Tiandi in Hangzhou developed by SOL was awarded LEED-CS pre-certification, Platinum from USGBC, for promoting the concept of environmental protection and sustainability through its project planning and design. Xihu Tiandi was the first project in the world to receive the pre-certification.

SOL projects are commercial, residential and mixed-use developments that apply a unique approach of master planning to enhance the city's urban planning and at the same time, integrate the local characteristics to preserve both the history and natural environment. SOL strives to develop environmental-friendly projects to ensure sustainability of local resources. The USGBC Cobalt Tower award recognizes Shui On's energy saving initiatives, environmental-friendly design and sustainability in property development.

SOL introduced the advanced environmental protection and sustainability concepts into the planning and design of Xihu Tiandi Phase II in Hangzhou. Covering 20,000 square metres of land, Xihu Tiandi Phase II features traditional architectural characteristics of Hangzhou, and environmental systems such as natural ventilation and lighting, rain collection and solar energy utilization. This puts Xihu Tiandi at the forefront of the "Back to Nature" trend.

Mr. Vincent Lo, Chairman of SOL, said, "We are very honoured and privileged to have received the award. Environmental protection is of critical importance in city development as natural resources are limited. SOL emphasizes sustainability in the course of property development. The environmental design of Xihu Tiandi is to promote a green lifestyle, which encourages a harmonious mutual development between human and nature."

Xihu Tiandi, covering an area of 50,000 square metres, is situated on the southern bank of Hangzhou's celebrated West Lake. Maintaining traditional Hangzhou garden and architecture as its core, and manifesting a convivial dialogue between nature and style, and history and modernization, Xihu Tiandi has become a world-class leisure and lifestyle destination incorporating F&B, entertainment and retail facilities. Local and overseas visitors can experience the historical and cultural heritage of Hangzhou through a close encounter with nature, and enjoy a wide range of cuisines from around the world. The concept of sustainable development of Xihu Tiandi Phase II brought new ideas in environmental development into the Chinese Mainland.

About USGBC and LEED

US Green Building Council (USGBC), established in 1995, is the most influential multinational organisation in energy conservation and environmental protection of the construction industry. Currently, it has over 6,000 members from over a dozen countries and territories. The "Green -Building" concept has been so well developed in the past decade that the focus of architectural concept has been upgraded from "greenness" to "sustainable development". The USGBC Cobalt Tower Award 2005 aims to recognize the contributions made by property developers to the promotion of environmental, economical and social sustainability. The Leadership in Energy and Environmental Design (LEED) Green Building Rating System set up and presented by USGBC has become the international industry standard for evaluating green architecture and sustainable development projects worldwide, with Platinum level as the highest award. So far, about 50 projects have been recognised as LEED "Green Buildings", and only a few are Platinum.

About Shui On Land

Established in 2004 and headquartered in Shanghai, Shui On Land Limited is the PRC flagship property company of the Shui On Group. Backed by a prestigious group of investors, including Asia Real Estate Income Fund (backed by Ergo), MetroProp (China), Co-Investment Limited Partnership V (SOL), Ocean Equity Holdings Limited, Value Partners Funds, Standard Chartered Bank (Hong Kong) Limited, Shanghai Hope International Limited as well as Jebsen & Company Limited, Shui On Land leverages the Group's proven track record in developing large-scale integrated property projects.

Shui On Land's projects feature unique commercial, residential and mixed-use developments. The Company focuses on two key business segments in the Chinese Mainland market: City Core Development Projects, which are large-scale, mixed-use redevelopments, and Integrated Residential Development Projects, which are high-quality developments offering full amenities and consistent with overall city infrastructure planning. For further information, please visit www.shuionland.com.

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