REG-Pacific Alliance China Land Limited: USD22m Investment in Project in Third Tier City

9 September 2010

Pacific Alliance China Land Limited
('PACL' or the 'Company')

USD22m Investment in Project in Third Tier City

Pacific Alliance China Land Limited ('PACL' or 'the Company'), the closed-end investment
company admitted to trading on AIM and focused on investing in a portfolio of
investments in existing properties, new developments, distressed projects and real
estate companies in Greater China, today announces that it has invested US$22million
('the Investment') through a domestic Chinese subsidiary for a 15% equity interest in a
primarily residential development project with Shanghai Aijia Investment Group ("the
Developer"). The project, located in the third tier city of Jiangyin in Jiangsu
Province, is a vacant site with a total buildable GFA of 367,650 sq m. The investment
was funded entirely from free cash without leverage and is expected to generate
attractive returns with a minimum preferred cash multiple of 1.4x over the proposed
three year term.

The Shanghai based Developer is a regional leader in the Yangtze River Delta and has to
date developed over two million sq m of property. An affiliate company of the Developer
is working towards a domestic listing and PACL may have the opportunity to swap its
equity interest in the project for shares in the prospective public company, possibly to
realize a higher valuation and better liquidity.

"PACL's investment in the Jiangyin project is a defensive play with attractive upside
potential in the context of current market dynamics where investment fundamentals in
second and third tier cities remain sound. This investment also allows PACL to develop a
strategic partnership with a well regarded regional developer with the potential for
further investment opportunities in the residential sector," commented Patrick Boot,
Managing Director of PACL's investment manager, Pacific Alliance Real Estate Limited.

Enquiries:

For more information, please contact:

MANAGER: LEGAL COUNSEL:
Patrick Boot, Managing Director Jon Lewis, General Counsel
Pacific Alliance Real Estate Limited c/o Pacific Alliance Group
16/F, St. John's Building 16/F St. John's Building
33 Garden Road 33 Garden Road Central,
Central, Hong Kong Hong Kong
T: (86) 21 6288 3788 T: (852) 2918 0088
F: (86) 21 6288 9272 F: (852) 2918 0881
pboot@pacific-alliance.com.cn mailto:pboot@pacific-alliance.com.cn jlewis@pacific-alliance.com mailto:jlewis@pacific-alliance.com
BROKER: NOMINATED ADVISER:
Hiroshi Funaki Philip Secrett
LCF Edmond de Rothschild Securities Grant Thornton Corporate Finance
T: (44) 20 7845 5960 T: (44) 20 7383 5100
F: (44) 20 7845 5961 Philip.J.Secrett@gtuk.com mailto:Philip.J.Secrett@gtuk.com
funds@lcfr.co.uk mailto:funds@lcfr.co.uk
MEDIA RELATIONS:
Sophie Hoggarth
Pacific Alliance Group
T: (86) 21 6113 5818
shoggarth@pacific-alliance.com mailto:shoggarth@pacific-alliance.com
Andrew Walton
Financial Dynamics, London
T: (44) 20 7269 7100

Christine Wood / Queenie Tsao
Financial Dynamics, Asia
T: (852) 3716 9800

Andrew Walton
Financial Dynamics, London
T: (44) 20 7269 7100

Christine Wood / Queenie Tsao
Financial Dynamics, Asia
T: (852) 3716 9800

Notes to Editors:

Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a closed-end investment
company that was admitted to trading on the AIM Market of the London Stock Exchange in
November 2007. PACL is focused on investing in a portfolio of existing properties, new
developments, distressed projects and real estate companies in Greater China.

For more information about PACL, please visit: www.pacl-fund.com

Pacific Alliance China Land Limited is a member of Pacific Alliance Group ("PAG"), one
of the leading Asian alternative investment managers. Founded in 2002, PAG manages funds
covering private equity, real estate, hedge fund and distressed investments and has
offices across Asia including Hong Kong, Shanghai, Beijing and Tokyo.

For more information about Pacific Alliance, please visit www.pacific-alliance.com

HUG#1443330