The board of directors of Shui On Land Limited informed potential investors and shareholders of the company that Mr. Vincent H. S. LO, Chairman of the Board, will take the lead in the establishment and positioning of China Xintiandi Limited, a wholly-owned subsidiary of the company. China Xintiandi will focus principally on managing, designing, leasing, marketing, enhancing premium retail, office, entertainment and hotel properties in affluent urban areas in the People's Republic of China, excluding Hong Kong, the Macao Special Administrative Region and Taiwan, for the purpose of this announcement. China Xintiandi plans to start operations on March 1, 2013.