News

Proposed Bond Offering

Not for distribution in the United States, Canada or Japan.

Yanlord Land Group Limited (the "Issuer") has mandated HSBC, J.P. Morgan and The Royal Bank of Scotland as Joint Lead Managers and Joint Bookrunners for its proposed U.S. dollar Rule 144A/Reg S bond offering. The issue is expected to be rated "Ba2" by Moody's and "BB" by S&P. The bonds will be guaranteed by certain subsidiaries of the Issuer and the transaction is expected to be launched, subject to market conditions, following a global roadshow commencing on March 10th. FSA/ICMA stabilization applies.

This notice is not an offer of securities for sale in the United States. The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or pursuant to an applicable exemption from the registration requirements. Accordingly, the securities will be offered and sold only (1) to qualified institutional buyers in reliance on the exemption from the registration requirements of the Securities Act provided by Rule 144A and (2) outside the United States in offshore transactions in compliance with Regulation S under the Securities Act. Any public offering of securities in the United States may be made only by means of a prospectus that may be obtained from the issuer and it will contain detailed information about the issuer, including information about its management, as well as financial statements. No public offering of the securities will be made in the United States, and the issuer does not intend to register any part of the offering in the United States. Nothing in this communication shall constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer or sale would be unlawful. A rating is not a recommendation to buy, sell or hold the securities and may be subject to suspension, reduction or withdrawal at any time by the rating agency.

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