China Housing Acquires Property Management Company in Xi'an

XI'AN, CHINA/PRNewswire-Asia-FirstCall/ -- China Housing & Land Development, Inc., ("China Housing", Nasdaq: CHLN) has completed the acquisition of Xi'an Xinxing Property Management Co., Ltd. ("Xinxing").

Xinxing was privately owned and provides property management services to most of China Housing's past residential and commercial projects, as well as to other prominent customers like the Xi'an branch office building of the People's Bank of China, China Xi'an Electric Group headquarters, Shaanxi Bureau of State Taxation offices, and the Xi'an University of International Studies, to name a few.

Xinxing's current service area totals 1.67 million square meters (17.98 million square feet) in 43 facilities that include residential, commercial, and school buildings and parks.

Xinxing's revenues in 2008 were RMB 15.42 million, net income was RMB 1.82 million, and assets at yearend 2008 totaled RMB 11.29 million.

Total consideration for the acquisition will be 12 million RMB. ($US 1.75 million)

Mr. Pingji Lu, Chairman of China Housing & Land Development, said, "This acquisition greatly strengthens our ability to improve our value to our customers during the after-sale phase of our real estate development business.

"This acquisition brings an important phase of real estate development into our company, one that further emphasizes our long-term commitment to our customers."

Founded in 1996, Xi'an Xinxing Property Management Co., Ltd. was one of the earliest Chinese companies to specialize in property management.

Based in Xi'an, (top right photo collage) the capital city of China's Shaanxi province, (bottom left map) China Housing & Land Development, Inc. is a leading developer of residential and commercial properties in northwest China.

For more information, please contact:

Ms. Jing Lu Chief Operating Officer, Board Secretary, and Investor Relations Officer Tel: +86-29-8258-2632 in Xi'an Email: jinglu@chldinc.com /

English and Chinese Mr. William Xin, Chief Financial Officer Tel: +86-150-9175-2090 in Xi'an +1-917-371-9827 in San Francisco Email: william.xin@chldinc.com /

English and Chinese Mr. Tom Myers, Christensen Investor Relations Tel: +86-139-1141-3520 in Beijing Email: tmyers@christensenir.com /

English Ms. Kathy Li, Christensen Investor Relations Tel: +1-212-618-1978 in New York Email: kli@christensenir.com / English and ChineseFCMN contact: KLi@christensenir.comSource: China Housing & Land Development, Inc.