Project: Shengang International Logistic Parkmerchant invitingproject of Shenzhen

Project: Shengang International Logistic Parkmerchant invitingproject of Shenzhen

Overview: ShenzhenWest Logistics Co., Ltd. is responsiblefor developinga land
area of 380,000 squaremeters and the Shengang International Logistic Park project has beenselectedasa key project of Shenzhen. It is primarily engaged in offering various moderncomprehensive logistic services to clients, to include export custodial warehouses, bonded warehouses, general warehouses, container storage, etc. inorder tocreateamodern comprehensive logistic park andbecome a high-end logistic supply chain provider. Currently the International Logistic Park endeavors to create the West Logistic Center in Shengang International Logistic Park which is a linkage logistic platformof export custodial warehouse and import bonded warehouse. The warehouse of Phase 1 has started operation which has a
constructionareaof 37,000squaremeters. The warehouse of Phase 2 has a construction area of 145,000 square meters which will start construction in July 2009
and is planned tostart official operationin2010. It will becomea high quality single
warehouse with best service in Shenzhen and the satellite cities. By the time the
construction has been completed, a number of logistic plans can be designed depending on its large dual warehouse business function in order to satisfy the demands of various clients. It wishes to invite trade logistic projects and industrial companies fromabroad.

Mode of cooperation: solely ownedbusiness

Period of cooperation: tobedecided

Total investment: RMB350million

Chinese side investment and composition: ShenzhenWest Logistics will invest 100%

Foreign side investment andcomposition: tobedecided

Estimatedpaybackperiod: 12years

Constructionsite: Block 1 land, ShengangInternational Logistics Park

Infrastructureavailableat theconstructionsite:
The total investment inWarehouseAproject is RMB126 million. The construction
has been completed and it has started operation. The warehouse has two floors
with a warehousing area of 37,000 square meters and an office area of 5500
square meters. Themajor business includes custodial warehouse, bonded warehouse and general warehouse.

It is estimatedthat theinvestment inWarehouseB, Phase1will be RMB224million. Theconstructions will start inJuly 2009andwill becompletedinAugust 2010.
It is estimated that thenewwarehouse will start operationin October 2010. WarehouseB, Phase1will bea3-floor warehouse of concretestructurewhichcovers a
landareaof 62,000squaremeters andhas the construction areaof 73,000 square
meters.

Materials of Project: project profileandrelevant advisingmaterials available

State project classification: this is a state encouragement project which has
been awarded thetitles of Shenzhen Key Construction Project and Shenzhen Key
Logistic Project andit has a number of preferential policies fromthegovernment.