Former PricewaterhouseCoopers Executive Joins China Housing & Land
Development as Independent Director and Chairman of the Audit Committee
XI'AN, China, March 20 /PRNewswire-Asia/ -- China Housing & Land Development, Inc., (Nasdaq: CHLN) reported today that NASDAQ has confirmed that with the election of Mr. Albert McLelland, China Housing & Land Development, Inc., meets the requirements for independent directors and board audit committee members as stated in NASDAQ Marketplace Rule 4350.
In February 2009, Mr. Albert McLelland was elected as an independent director of China Housing & Land Development, Inc. Mr. McLelland also serves as the Chairman of the Audit Committee of the Board of Directors.
Mr. McLelland, 50, has been Senior Managing Director of AmPac Strategic Capital LLC since 2003. He is also a founder and Managing Director of
AmPac-TDJ LLC. Prior to founding AmPac Strategic Capital, Mr. McLelland was responsible for the day-to-day cross-border transactions practice of PricewaterhouseCoopers' Financial Advisory Services.
Mr. McLelland has extensive investment and merchant banking experience, has built two Asian-based financial service firms, and has led the corporate finance department at CEF Taiwan Limited. He began his investment banking career in Public Finance at Shearson Lehman.
He holds an M.B.A. degree from the University of Chicago and a Master of International Affairs degree from Columbia University. He completed his undergraduate studies at the University of South Florida and studied Mandarin at the National Normal University in Taiwan.
Since September 2008, Mr. McLelland has served as an independent director and chairman of the audit committee of the Board of Directors for China Fire & Security Group, Inc.
About China Housing & Land Development, Inc.
Based in Xi'an, the capital city of China's Shaanxi province, China Housing & Land Development, Inc., is a leading developer of residential and commercial properties in northwest China. China Housing has been engaged in land acquisition, development, and management, including the sales of residential and commercial real estate properties through its subsidiaries in China, since 1992.
China Housing & Land Development is the first and only Chinese real estate development company traded on NASDAQ.
By leveraging its strong background and capability, China Housing & Land Development has been able to capitalize on the supply of available land and develop residential and commercial properties, further increase China Housing's brand recognition, and outperform its competitors in medium size residential and commercial real estate developments in greater Xi'an.
Safe Harbor
This news release may contain forward-looking information about China Housing & Land Development, Inc., which is covered under the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of
forward-looking terminology such as believe, expect, may, will, should, project, plan, seek, intend, or anticipate or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and China Housing & Land Development's future performance, operations, and products.
Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Actual performance results may vary significantly from expectations and projections. Further information regarding this and other risk factors are contained in China Housing & Land Development, Inc.'s public filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in any attachments is as of the date of the release, and the Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.
China Housing & Land Development news releases, project information, photographs, and more are available on the internet at http://www.chldinc.com .
Contacts for investors and media:
Jing Lu
Chief Operating Officer, Board Secretary, and IRO
Tel: +86-29-8258-2632 in Xi'an
Email: jinglu@chldinc.com
William Xin
Chief Financial Officer
Tel: +86-150-9175-2090 in Xi'an
+1-917-371-9827 in San Francisco
Email: william.xin@chldinc.com
Tom Myers
Christensen Investor Relations
Tel: +86-139-1141-3520 in Beijing
Email: tmyers@christensenir.com
Kathy Li
Christensen Investor Relations
Tel: +1-212-618-1978 in New York
Email: kli@christensenir.com
