China Properties Developments, Inc. Reports Results for 2007

XI'AN, China--(Business Wire)--
China Properties Developments, Inc. (OTCBB:CPDV) through its
majority owned subsidiaries, is primarily engaged in the acquisition
and development of land holdings, and the development, sale, rental,
and management of mixed-use residential, commercial and office
properties in the City of Xi'an, the capital of Shaanxi Province in
the People's Republic of China, recently announced results for the
fiscal year ended December 31, 2007.

For the year ended December 31, 2007, revenues were $2,408,000 for
the year ended December 31, 2007 compared to revenues of $4,734,000
for the year ended December 31, 2006. The revenues were due to sales
of condominium units and office space in the Yangming building which
sales decreased in 2007 compared to the prior year. Gross profit,
defined as sales less cost of sales, was $722,000 for the year ended
December 31, 2007 compared to gross profit of $1,440,000 for the year
ended December 31, 2006. Cost of sales consists of costs such as
construction and labor costs. Cost of sales were $1,686,000 for the
year ended December 31, 2007 compared to $3,294,000 for the year ended
December 31, 2006 which change was primarily due to reduced costs
resulting from the decrease in sales of condominium units and office
space in 2007. We also achieved rental income of $375,000 for the year
ended December 31, 2007 compared to rental income of $314,000 for the
year ended December 31, 2006. We had a comprehensive loss of $36,000
or $0.00 per share, for the year ended December 31, 2007 compared to a
comprehensive loss of $210,000 or ($0.01) per share, for the year
ended December 31, 2006. Although revenues and our gross profit
decreased in 2007 compared to the prior year, with operating income
decreasing to a lesser extent, we incurred late delivery penalties of
$451,000 in 2006 compared to late delivery penalties of only $39,000
in 2007.

2007 Highlights

China Properties terminated its February 16, 2006, agreement with
the shareholders of Shaanxi Xinyuan Real Estate Co. Ltd., owner and
developer of the Yan Ta Shopping Mall, and entered into a new share
subscription agreement with Shaanxi, a People's Republic of China
limited liability corporation, pursuant to which China Properties has
agreed to acquire new treasury stock from Shaanxi which shall provide
China Properties with 90% equity ownership of Shaanxi. The total
purchase price for the share acquisition is 230 million Renminbi,
estimated to be approximately US$30 million at the current currency
exchange rate which is subject to change. The parties have agreed that
the obligation of China Properties to purchase the shares is subject
to China Properties obtaining equity or debt financing for the full
amount of the purchase price. There is no assurance that such
financing will be obtained by China Properties on acceptable terms.
Assuming the closing of the transaction, Shaanxi will become a 90%
owned subsidiary of China Properties. The use of proceeds from the
US$30 million share issuance by Shaanxi will be to fund a portion of
the costs of the construction of Phase II of the Yan-Ta Shopping Mall.

Comprising a large urban park, a high-end shopping mall and
entertainment facilities, the Yan-Ta Shopping Mall is listed as one of
The City of Xi'an's Key Projects for 2005/06. The park will occupy a
total of 12 acres. Below ground, a three-story shopping mall will
provide 1,291,670 square feet of retail and commercial space plus
2,000 parking spaces.

Construction of Phase I, representing 25% of the Yan-Ta Shopping
Mall, was completed ahead of schedule and under budget to open its
doors on Friday, October 26, 2007. In addition, over 90% of Phase I of
the Yan-Ta Shopping Mall has been leased.

Construction of Phase II is scheduled to commence in mid 2008 and
occupancy is scheduled upon completion in late 2009. Total investment
in the Yan-Ta Shopping Mall Project will be in excess of $100M US.

Ping'an Wu, Chairman, President and CEO of China Properties
Developments, Inc., said, "We are pleased to announce our financial
results for 2007. 2007 was another milestone year in the development
of China Properties as during the year Shaanxi completed development
of the Phase I of the Yan-Ta Shopping Mall ahead of schedule and under
budget, and leased out over 90%. We are very excited about plans for
the rest of 2008."

Steven Lou, Director, Executive VP and CFO of China Properties
Developments, Inc., stated, "We are pleased with our progress on the
Shaanxi Yan Ta Mall acquisition. The Company is continuing to work
hard to leverage our position as a publicly traded company. China
Properties remains committed to working towards increasing long term
shareholder value."

About The Company

China Properties Developments, Inc. owns 90.28% of its subsidiary,
Xi'an Jiahui Real Estate Co. Ltd. formed under the Company Law of the
People's Republic of China ("Jiahui"). Jiahui is a sino-foreign joint
venture company formed in 1996. China Properties Developments, Inc.
develops and manages high-end residential, commercial and office real
estate in the city of Xi'an, the capital of Shaanxi Province in the
People's Republic of China. One of China's most ancient cities, Xi'an
is a thriving cultural, historical and intellectual center, whose
population of more than 6 million. The Company has completed
development of the Jiahui Office Building and Yangming International
Tower. The Company recently entered into an agreement to acquire
Shaanxi Xinyuan Real Estate Co., developer of the Yan-Ta Shopping
Mall. The Company is currently developing the Garden Villa and Bali
Village projects. The total assets of the Company are over US$24
million.

For more information go to www.chinapropertiesdevelopments.com.

This news release contains forward-looking statements as defined
by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulation, and other risks defined in this document and in statements
filed from time to time with the Securities and Exchange Commission.
All such forward-looking statements, whether written or oral, and
whether made by or on behalf of the companies, are expressly qualified
by the cautionary statements and any other cautionary statements which
may accompany the forward-looking statements. In addition, the
companies disclaim any obligation to update any forward-looking
statements to reflect events or circumstances after the date hereof.

China Properties Developments, Inc.
Steven Lou, 86-29-85257560
Fax: 86-29-85257829
steven.lou@chinapropertiesdevelopments.com

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