Sino-Ocean Land and Swire Properties jointly announced the sale of Pinnacle One, an office tower in Chengdu Daci Temple Cultural and Commercial Complex, for approximately RMB2.1 billion.

The transaction involved the sale of a substantial portion of the Grade-A office tower with gross floor area of approximately 1,150,000 sq ft (approximately 107,000 sqm)* and 350 car parking spaces, representing approximately 89% of the tower's total gross floor area.

Chief Executive Officer of Sino-Ocean Land Li Ming said: "The sale of Pinnacle One demonstrates major property investors' confidence in Sino-Ocean Land's ability in property development. It also helps Sino-Ocean Land in venturing and consolidating the Southwestern market."

"Pinnacle One is Swire Properties' first trading property in Mainland China," said Guy Bradley, Swire Properties' Chief Executive Officer - Mainland China. "We are pleased with the sale as it demonstrates the strong demand for quality commercial properties in Chengdu. It is also indicative of the market's appreciation of the product and brand value for our development."

Situated in the prime location of Dongda Street, Chengdu, Pinnacle One offers premium office accommodation for multinational and local companies. The tower is currently under construction and is scheduled for completion in 2014.

Chengdu Daci Temple Cultural and Commercial Complex in Chengdu is the second joint-venture development by Sino-Ocean Land and Swire Properties. Besides Pinnacle One, the mixed-use complex also comprises Sino-Ocean Taikoo Li Chengdu - an open-plan, lane-driven mall covering approximately 1,140,000 sq ft (approximately 100,000 sqm)*, The Temple House - a 100-room urban hotel and 42 serviced apartments managed by Swire Hotels. Upon completion, the 2,700,000 sq ft (approximately 250,000 sqm)* complex will be directly connected to Chunxi Road metro station where Metro Lines 2 and 3 interchange.

* Gross floor area excludes car park areas.

About Sino-Ocean Land
Founded in 1993, Sino-Ocean Land was listed on the Main Board of the Hong Kong Stock Exchange in 2007. To date, the Company is selected as constituent of a series of indexes by Hang Seng Indexes Company Limited, including the Hang Seng Composite Index, the Hang Seng Composite Indexes (Properties & Construction), the Hang Seng Mainland 100, the Hang Seng Composite Size Indexes (Midcap Index) and the Hang Seng Global Composite Index.

The Company is engaged in the development of mid to high-end residential properties, premium office buildings and retail properties; the sale of real estate and related business. The Company has over 50 projects at various stages of development in numerous fast-growing cities. As at 31 December 2012, The Company has a land bank of over 23 million sq m to sufficiently meet the high-speed development for the next 3 to 5 years.

The Company has 15 years' experience in commercial properties with completed projects, namely Ocean Plaza, ChemSunny World Trade Center, Ocean Office Park, Ocean International Center and We-life. In the years to come, the Company will attach more importance to the development of commercial properties and increase its ratio in the entire portfolio.

Visit Sino-Ocean Land's website at www.sinooceanland.com.

About Swire Properties
Swire Properties develops and manages commercial, retail, hotel and residential properties, with a particular focus on mixed-use developments in prime locations at major mass transportation intersections. Listed on the Main Board of the Stock Exchange of Hong Kong, the Company's investment portfolio in Hong Kong comprises Island East and Pacific Place as its core holdings. In addition to Hong Kong, the Company has investments in Mainland China, the United States, Singapore and the United Kingdom. Visit Swire Properties' website at www.swireproperties.com.

Chengdu Daci Temple Cultural and Commercial Complex

Pinnacle One