DLJ Real Estate Capital Partners and Sino-Ocean Land Announce Successful Launch of Shenzhen Residential Development

   DLJ Real Estate Capital Partners and Sino-Ocean Land Announce Successful
                  Launch of Shenzhen Residential Development

370 Units Sold Exceeds Market Expectations

PR Newswire

SHENZHEN, China, Dec. 17, 2012

SHENZHEN, China, Dec. 17, 2012 /PRNewswire/ --DLJ Real Estate Capital
Partners, LLC ("DLJ RECP") announced the successful launch of Sino Ocean
Express, a residential development project located in the Longgang District of
Shenzhen, China. The development is a joint venture between DLJ RECP and
Sino-Ocean Land (SEHK: 03377). All 370 condominiums released to the market
were sold within the first few hours of the sales event on December 15th.

The Project consists of 4.4 million square feet of residential, retail and
outdoor space. The majority of the purchasers, young professional couples,
were attracted to the project due to its location with a direct subway access,
efficient units, and Sino-Ocean's reputation as a high quality developer.
Unit sizes average 947 square feet with three bedrooms and have efficient
layouts designed especially for the fast growing middle-class, young and
expanding families seeking a vibrant city lifestyle. The first phase units
will be delivered to the homebuyers in 2014.

"The key to the project's successful launch is attributable to our
understanding of what consumers want and aspire to have," according to Mr.
Shen Zhu Yuan, Project Director and Group Vice President of Sino-Ocean.

Shenzhen, one of China's top-tier cities with a population of 10 million, is
home to China's Shenzhen Stock Exchange and high technology manufacturing
companies. Its proximity to Hong Kong elevates its status as China's first
Special Economic Zone, where its citizens are among the highest GDP per capita
in the country. China's New President, Xi Jinping, made his first official
visit as President to the city, reinforcing Shenzhen's growing significance as
a beacon of economic growth.

"The hard demand for housing, driven by household formation, is most evident
in Shenzhen, with the youngest population of all major cities in China," said
John Lien, Managing Director at DLJ RECP. "The project not only benefits from
strong pent-up demand resulting from a series of restrictive policies in the
real estate sector implemented in 2010, but also favorable demographics unique
to Shenzhen."

DLJ RECP was one of the first U.S. partners to invest with Sino-Ocean Land,
beginning in 2006 before Sino-Ocean Land became a public company. The
Shenzhen joint venture was established in March 2012 to develop the Sino-Ocean
Express property.

Andy Rifkin, Managing Partner of DLJ Real Estate Capital Partners, said, "Our
investment in Shenzhen is consistent with our strategy to target markets
characterized by high barriers to entry, strong transportation infrastructure,
and sustained growth dynamics. We are pleased to partner with Sino-Ocean to
deliver a quality property that is well positioned to meet pent-up demand in
the local community." 

ABOUT DLJ REAL ESTATE CAPITAL PARTNERS, LLC

DLJ RECP is a leading global investment firm focusing on real estate and real
estate-related assets. DLJ RECP was founded in 1995 and has offices in New
York, Los Angeles, Hong Kong and Tokyo. DLJ RECP manages a series of real
estate private equity funds with total capital commitments in excess of $4
billion. The DLJ RECP funds have acquired 180 investments representing
approximately $15 billion in gross transaction value throughout North America,
Western Europe and Asia. DLJ RECP takes a rigorous property-by-property
approach to investing. The firm's strategy is to acquire well-located assets
with high intrinsic value and to enhance that value through creative
repositioning and intensive management strategies.

ABOUT SINO-OCEAN LAND

Founded in 1993, Sino-Ocean Land was listed on the Main Board of the Hong Kong
Stock Exchange (stock code: 03377) on September 28, 2007 and has become one of
the top ten Mainland real estate companies listed in Hong Kong. In March
2008, Sino-Ocean Land was selected as a constituent of the Hang Seng Hong Kong
Composite Index and the Hang Seng China-Affiliated Corp Index. Sino-Ocean
Land is mainly engaged in the development of mid- to high-end residential
properties, premium office buildings, retail properties and serviced
apartments. Based in Beijing, Sino-Ocean Land has a multi-regional and
diversified portfolio of both development and investment properties.
Sino-Ocean Land sold 18 million, 23 million and over 27 million square meters
of real estate in 2010, 2011 and 2012, respectively. As of June 2012,
Sino-Ocean has a land bank of approximately 253 million square feet across 19
Chinese cities.

SOURCE DLJ Real Estate Capital Partners, LLC

Contact: Corey Mirman, cmirman@mww.com, +1-646-351-8115
 
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