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An SIP Company's Bond to Be Listed July 22

AS was notified on July 16 by Shanghai Securities Exchange, the year 2005 corporal bond of SIP Real Estate Management Company is to be listed for transaction on July 22 (next Friday).

The listing of this enterprise bond on next Friday, in the value of 6.1 million yuan RMB, will take the form of cash transaction under the code "05 Su Yuan Jian" numbered "120502". Each unit of transaction will take the face value of 1,000 RMB.

The "05 Su Yuan Jian" bond will adopt real-name book-keeping record, and the total amount of issue will be 1.2 billion RMB for a period of 10 years, with an annual face value interest of 5.06%, to be paid annually and calculated from May 19, 2005. The whole-lump repayment will be made for the bond with the last year's interest on May 19, 2015. A comprehensive evaluation was previously conducted by Da Gong International Creditability Evaluation Co., Ltd. to determine the credit of "05 Su Yuan Jian" at AAA Grade.

July 16, 2005

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