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名都新城三期

For a general description of the New Mandarine City development, please refer to the paragraph headed "Property interests for sale --- New Mandarine City Phase I" in this section.

New Mandarine City Phase III is planned to consist of 17 low-rise residential blocks with 333 residential units and 7 retail units, and underground car parks.

The table below sets forth certain summary information of New Mandarine City III as of the completion date.

Location	Site 1, Block 93, Xinzhuang Town, Minhang District,Shanghai
Brief Description	Quality residential development comprising 17 low-rise residential blocks
Site Area	19,981 sq.m.
Planned Gross Floor Area	47,685 sq.m.
Construction Period (expected)	April 2002 - August 2003
Estimated Total Construction Cost	RMB 93.6 million

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