OCT (Asia) Increases the Equity Interest of Beijing Guangying to 33%

HONG KONG, Dec. 12, 2012 /PRNewswire/ -- Overseas Chinese Town (Asia) Holdings Limited ("OCT (Asia)" or the "Company", stock code: 03366.HK) and together with its subsidiaries, the "Group", is pleased to announce that on December 12, 2012, Shenzhen Huajing Investment Limited ("Huajing"), a wholly-owned subsidiary of the Company, entered into the Capital Increase Agreement with China Merchants Property Development (Beijing)., Ltd ("Beijing China Merchants Property") and Dalian Yingzhi Corporate Management Limited ("Dalian Yingzhi", a wholly-owned subsidiary of The Wharf (Holdings) Limited), pursuant to which Huajing, Beijing China Merchants Property and Dalian Yingzhi conditionally agreed to make capital contribution in cash to Beijing Guangying Residential Property Development Limited ("Beijing Guangying") by injecting RMB 41,540,307, RMB 1,258,825 and RMB 28 respectively. Huajing, Beijing China Merchants Property and Dalian Yingzhi will own 33%, 34% and 33% equity interest of Beijing Guangying respectively upon completion of the Capital Injection.

Beijing Guangying was established in the PRC with limited liability in May 2012. It is principally engaged in property management, interior design and construction, property development, leasing of commercial premises and project investment. By tender at the beginning of 2012, Beijing Guangying owns two pieces of lands lots located in the area of Laiguangyingxiang in Chaoyang District, Beijing, the PRC with a total site area of approximately 72,702 square meters. To date, the land is at an early development stage, but it is planned to be developed as residential properties with a total maximum developable residential gross floor area of approximately 181,756 square meters and is scheduled to be completed in 2016.

The land owned by Beijing Guangying is in a prime location with a convenient transportation network, comprehensive amenities in the surrounding areas. It is expected that the Capital Injection can bring positive return and enhance the overall profitability of the Group. Besides, each of the beneficial owner of Huajing, Beijing China Merchants Property and Dalian Yingzhi, being industry's leading companies, has successful experiences on property development, the Group believes that the property development project of Beijing Guangying will gain success from the cooperation of three parties.

The Group has gradually developed into a comprehensive developer and operator of commercial complex in the PRC in recent years. The Group believes that the enormous economic potential in Beijing and favourable location of the Laiguangying project will bring considerable revenue by selling properties in the Laiguangying project, by which can also provide capital support for the development of the Group's real estate business in the future.

About OCT (Asia)

Overseas Chinese Town (Asia) Holdings Limited ("OCT (Asia)") was listed on the Main Board of the Stock Exchange of Hong Kong on 2 November, 2005 (Stock Code: 03366.HK). Besides the manufacture and sales of quality paper-based packaging containers and materials, the Group has started engaging in the comprehensive development since 2007, striving to become an outstanding developer and operator of commercial complex. The Group is currently engaged in commercial complex projects such as Chengdu OCT projects, Shanghai Suhewan projects and Tianjin Tianxiao projects. Shenzhen Overseas Chinese Town Co., Ltd, the Group's indirect controlling shareholder, was established with the exclusive initiation by Overseas Chinese Town Enterprises Company, directly under State-owned Assets Supervision and Administration Commission of the State Council and was listed on Shenzhen Stock Exchange on 10 September, 1997. Please visit http://www.oct-asia.com for more details.

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