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名都新城四期

For a general description of the New Mandarine City development please refer to this section"Property interests for sale ¨C New Mandarine City Phase I "

The site for New Mandarine City Phase IV adjoins New Mandarines City Phase III. The Group intends to develop the site as New Mandarine City Phase IV comprising a number of low-rise residential blocks and underground carparking spaces.

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

Location	Site 1, Block 90, Xinzhuang Town, Minhang District, Shanghai
Brief Description	Quality, large scale residential development comprising low-rise buildings
Site Area	30,988 sq.m.
Planned Gross Floor Area	73,288 sq.m.
Construction Period(expected)	May 2003 - December 2004
Estimated Total Construction Cost	RMB 150 million
Estimated Construction Cost Outstanding	RMB 150 million

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