[TodayIR] ZHONGAN REALEST: Proposed Spin-off of China New City,

 [TodayIR] ZHONGAN REALEST: Proposed Spin-off of China New City, Expected to
                      create more value for shareholders

(Hong Kong, 30 September 2013) Zhong An Real Estate Limited ("Zhong An" or the
"Group"; stock code: 672.HK), one of the leading PRC property developers in
the Yangtze River Delta region, is pleased to announce the Proposed Spin-off
and separate listing of China New City Commercial Development Limited ("China
New City") on the Main Board of the Stock Exchange. On 30 September 2013,
China New City submitted a listing application form to the Stock Exchange for
an application for the listing of, and permission to deal in, the China New
City Shares on the Main Board of the Stock Exchange.

Abundant Experience in Commercial Properties Development and Operations

Zhong An started its business from commercial properties development. The
Group has developed and held commercial properties as long-term investments
since 1997, including shopping spaces, office buildings and service
apartments. In virtue of over ten years' development in commercial projects,
Zhong An has accumulated abundant experience in commercial properties
development and operations, and has an experienced and cohesive management

Currently Zhong An has a total of 6 hotels and 5 investment properties under
operation, construction or planning. For investment properties, the Group's
Zhong An Highlong Plaza, located in Xiaoshan District of Hangzhou, is a key
commercial project in the Eleventh Five-Year Plan of Hangzhou, Zhejiang
Province. After over three years' development, the brand new philosophy of
one-stop shopping of Zhong An Highlong Plaza has won the recognition and
popularity of people in Xiaoshan, and it has become the flagship complex of
the new district in Xiaoshan. At present, the Group has 4 major investment
properties under construction or planning, which include high-end shopping
centers and grade A office buildings. Zhong An Times Square in Yuyao, is
expected to commence operation by the end of 2015. Zhong An Hangzhou
International Business Center ("Hangzhou IOC") is located at Qianjiang Century
Town, the future CBD in the southern part of China's most-potential Yangtze
River Delta Economic Region, comprising high-end hotel, shopping mall, office
buildings, and service apartments. It's drawing much market attention due to
advanced design, environment-friendly architectural concept and immense
prospects. Fairmont Hotel will enter into Hangzhou IOC.

With regard to hotel business, the Group's hotel, Holiday Inn Xiaoshan
Hangzhou, was opened in 2007 and is in smooth operation with steady occupancy
rate. In addition, the Group has 5 high-end hotels under construction or
planning stage. Doubletree by Hilton in Yuyao, Ningbo is expected to commence
operation as scheduled in 2015; and the hotel project located in Qiandao Lake,
Hangzhou is expected to commence operation by the end of 2014.

Focusing on Commercial Complex Development in New Cities of Yangtze River
Delta region

In virtue of Group's sixteen years' experience in commercial complex
development, China New City will effectively expand business in commercial
complex to third and fourth-tier cities and their suburb areas in Yangtze
River Delta region.

It is believed that China New City will benefit from future development of
such areas through developing projects in third and fourth-tier cities and
their suburb areas. China New City's focus in the development of future urban
cores will bring long-term and favorable support to the Group's performance in
the new-type urbanization.

Mr. SHI Kancheng, the Chairman of Zhong An commented, "the Spin-off will
create a more defined business focus for both China New City and the Remaining
Zhong An Group, further enhance the branding and provide investors and the
public with greater investment focus for each group, which will provide
separate access to capital markets and increase financing flexibility, thus to
create more value for shareholders. Looking forward, Zhong An will continue to
expand the Group's operation scale to consolidate the Group's leading position
in Yangtze River Delta and boost the Group's expansion into other markets."
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