Golden Wheel Tiandi Holdings Company Limited Acquires a Land Parcel with a Total Consideration of RMB195 Million that is Located at the Connection Point ofthe High-speed Rail Station and Metro Stationin Nanjing

HONG KONG, May 23, 2013 /PRNewswire/ -- Golden Wheel Tiandi Holdings Company Limited ("Golden Wheel Tiandi" or the "Company", together with its subsidiaries, the "Group") (Stock code: 1232.HK), a leading integrated property developer in China with a focus on developing projects that are physically connected to metro stations or other transportation hubs, is pleased to announce that Nanjing Golden Wheel International Billion Limited, a wholly-owned subsidiary of the Company, succeeded in the public auction to acquire the right to the use of a land parcel with site area of approximately 18,300 square meters in Nanjing City, Jiangsu Province, the People's Republic of China (the "Land") for a total consideration of RMB195 million on 22 May 2013.

The Land, situated at No. 4 Station East Area, North Square, Nanjing South Station, Yuhuatai District, Nanjing City, Jiangsu Province, is a land parcel which is located at the connection point of the high-speed rail station and metro station. The Land was put up for auction by the Bureau of Land Resources of Nanjing, and is designated for commercial and financial use for a term of 40 years, with its plot ratio of not more than 1.85.

The total consideration for the acquisition of the right to the use of the Land will be funded by the Group's internal resources.

Mr. Wong Yam Yin, Chairman and Executive Director of Golden Wheel Tiandi commented, "We are pleased to successfully bidding the prime land parcel in North Square Nanjing South Station shortly after acquiring the land parcel located above a metro station at Longmian Road in Nanjing. In view of the superior locations and appropriate designated use, we believe that these land parcels will significantly support and benefit the long-term business development and strategic planning of the Group, and the Group's sound profitability and competitive edges. Till April this year, the Group has recorded over RMB900 million in the revenue of property sales business, surpassing its total revenue of last year. Looking forward, the Group will continue to actively seek acquisition opportunities of quality land that is physically connected or in close proximity to metro stations or other transportation hubs, so as to further strengthen our leading position in the niche property market in China, maximizing values to shareholders."

About Golden Wheel Tiandi Holdings Company Limited (Stock Code: 1232)

Golden Wheel Tiandi is a leading integrated property developer in China, developing projects that are physically connected to metro stations or other transportation hubs. It currently owns several investment properties as well as integrated properties under construction in Jiangsu and Hunan provinces. The Group has a balanced business model which comprises the sale of commercial and residential properties and the leasing and operational management of commercial properties owned by the Company or third-parties. Golden Wheel Tiandi will continue to retain its long-term ownership of shopping malls with high investment value for recurring rental income and long-term financial strength and sell a mix of offices, residential properties and hotel-style apartments for growth capital, so as to enhance the steady long-term business development in the future.

In May 2013, the Group was successfully included in MSCI China Indices of MSCI Global Small Cap Indices by Morgan Stanley, which is an important recognition of Golden Wheel Tiandi as a leading company in China's real estate industry by the investment community.

Company website: www.gwtd.com.hk

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