Nanjing Chixia Development Co.

Nanjing Chixia Development Co., Ltd. is principally engaged in the properties industry, including the development and construction of residential properties, as well as the leasing, sale and management of commercial buildings. The Company owns five main properties in the areas of Nanjing, Suzhou and Wuxi, Jiangsu Province, China. During the year ended December 31, 2007, the Company obtained approximately 73% of its total revenue from its business in Nanjing. As of December 31, 2007, the Company had six subsidiaries, engaged in the development and management of properties. The Company is headquartered in Nanjing, Jiangsu province, China. (Source: ARS)