Anhui Water Resources Development Co.

Anhui Water Resources Development Co., Ltd is principally engaged in the undertaking of engineering projects, the development of real estate, the utilization of water resources, the generation of hydroelectric power, build-transfer (BT) investment and new building materials business. During the year ended December 31, 2008, the Company won 71 bids of engineering projects, conducted Bailianya hydropower station project and Longzi Lake water resource developing project and continued to develop BESTWAY residential building system. The Company operates its business in domestic markets and to overseas markets. As of December 31, 2008, the Company had six major subsidiaries and associates, engaged in real estate development, hotelling and water resource development. (Source: ARS)