Executive Directors

Mr. PAN Shiyi, age 43, is chairman of our Board of Directors. Mr. Pan co-founded Redstone Industry, the predecessor of Company, in 1995 since then he has led, together with her wife, Mrs. Pan Zhang Xin, the development of all of Company’s eight projects and the Tiananmen South (Qianmen) Project. Before that Mr. Pan co-founded Beijing Vantone Co. Ltd. (“Vantone”) in 1992. While at Vantone, Mr. Pan participated in the development of the Vantone New World Plaza and was also involved in the development of other projects including the Lixiang Plaza and the Air China Tower.

Mr. Pan was selected as one of the “Top Ten Influential Figures in Real Estate Industry” by sina.com in 2004 and 2006, one of the “Top Ten Influential Figures in Real Estate Industry” by sohu.com in 2005 and one of the “25 most influential business leaders in China by Fortune (China) Magazine in 2005.

Mr. Pan has frequently been invited to speak at conferences and forums including the China Business Summit 2003, the World Economic Development Declaration 2003 and the Boao Forum for Asia 2006. He has been widely featured in both Chinese and overseas press such as “Time Magazine”, “Business Week” and the “Asia Wall Street Journal”. He has not in the last three years, and does not currently, hold any directorships in any other listed companies.

Mrs. PAN ZHANG Xin Marita, age 42, is our executive Director and chief executive officer. She co-founded Redstone Industry, the predecessor of our company, in 1995. Since then she has led, together with her husband Mr. Pan Shiyi, the development of all of our eight projects and the Tiananmen South (Qianmen) Project. Prior to founding our company, Ms. Zhang worked in Hong Kong at Goldman Sachs (Asia) L.L.C. from 1992 to 1993 in the investment banking division and the Travelers Group from 1993 to 1995 in its direct investment division.

Ms. Zhang was selected by the World Economic Forum as a Young Global Leader in 2005. In recognition of Ms. Zhang’s efforts in promoting the development of architecture in Asia, Ms. Zhang was awarded a Special Prize to an Individual Patron of Architectural Award by La Biennale di Venezia in 2002. She has also spoken at various forums including the Fortune Global Forum 2005 and the China Business Summit 2003 & World Economic Development Declaration 2003.

She has not in the last three years, and does not currently, hold any directorships in any other listed companies.

Ms. YAN Yan, age 43, is our executive Director and chief financial officer and is responsible for the financial strategy and management of our company. Prior to joining our company in December 1996, Ms. Yan worked for Beijing Vantone Logan International Property Management Consulting Co. Ltd as vice president and for Beijing Henderson Properties Co. Ltd., a subsidiary of Henderson (China) Investment Co., Ltd., as assistant marketing director from 1993 to 1995. Before that, Ms. Yan worked for Xi’an Sheraton Hotel from 1991 to 1993 and was the manager of the sales department when she left. From 1987 to 1991 she worked for Tianjin Sheraton Hotel and was the director of the rooms division when she left. Ms Yan received a Bachelor of Civil Engineering degree from Tianjin University in 1986. She has 14 years of relevant experience. Ms. Yan has not in the last three years, and does not currently, hold any directorships in any other listed companies.

Mr. SU Xin, age 39, is our executive Director and chief operating officer and is responsible for day-to-day operations, including sales, human resources, legal and information technology functions. Mr. Su joined our company in March 1998. From 1994 to 1996, Mr. Su worked for the China Architecture Design & Research Group as an engineer. Mr. Su received a Bachelor of Engineering Mechanics degree from Tongji University in 1991 and an Executive Master’s degree in Business Administration from China Europe International Business School in 2005. He has ten years of relevant experience in the real estate development industry in China. Mr. Su has not in the last three years, and does not currently, hold any directorships in any other listed companies.

Independent Non-executive Directors

Dr. Ramin KHADEM, age 62, is the Chairman of the Board of Trustees of the International Space University, Strasbourg, France. He is a member of the advisory board of ManSat Ltd, a company that serves the needs of the international space industry, as well as Near Earth L.L.C. an investment bank with a focus on the satellite, media and telecommunications clients and investors. He is also the Senior Adviser to the Chairman and Chief Executive Officer of Inmarsat Plc. Dr. Khadem acted as the executive director of Inmarsat Ventures Limited (formerly known as Inmarsat Ventures plc) ("Inmarsat") between October 2000 and July 2004 and that of Inmarsat Group Holdings Limited between December 2003 and July 2004 where he was responsible for the overall financial management and performance of the Inmarsat Group. Since 1993, he had been acting as the Chief Financial Officer of Inmarsat prior to which he had served Inmarsat in various capacities, namely finance director, finance manager and director of finance and administration. Dr. Khadem was in charge of the finance committee of Inmarsat, which was responsible for reviewing and recommending annual operating and capital budgets, adopting financial plans and reviewing performance and results of operations with external auditors until 1999. From 2000 to 2004, he attended the audit committee in his capacity as executive director and worked with external auditors to review Inmarsat's interim and annual results. While working with the Inmarsat Group, Dr. Khadem was involved in a number of major projects including arranging a medium term financing facility of US$610 million, the sale of Inmarsat Ventures Limited to private equity buyers (namely funds of Apax Partners and Perimira) in the sum of US$1,538 million, a bond issue in Europe and the US raising US$477 million and supporting further debt instruments totalling US$975 million. He was also involved in a number of significant restructuring, private placement and financial leasing transactions and in negotiations with the US, Russian and Khazakistan governments for the launch of one of the five Third Generation Inmarsat Satellites on a Russian rocket from Khazakistan. Dr. Khadem graduated from the University of Illinois with a B.S. degree in electrical engineering and McGill University with a Ph.D. degree in Economics. Dr. Khadem has in the last three years, and does not currently, hold any directorships in any other listed companies.

Mr. CHA Mou Zing, Victor, age 57, is the Deputy Chairman and Managing Director of HKR International Limited (Stock Code 480 listed on the Stock Exchange), an alternate independent non-executive director of New World Development Company Limited (Stock Code 0017 listed on the Stock Exchange) and an independent director of China Netcom Group Corporation (Hong Kong) Limited, (Stock Code 906 listed on the Stock Exchange). He is also a member of the Chinese People's Political Consultative Committee of Zhejiang Province and a council member of the Hong Kong Polytechnic University. Mr. Cha graduated from Stanford University with a MBA degree and University of Wisconsin with a B.S. degree.

Mr. YI Xiqun, age 59, is the Chairman of Beijing Enterprises Holdings Limited (Stock Code 392 listed on the Stock Exchange). He graduated from the Beijing Chemical Institute in 1975 and later obtained a postgraduate degree in economics and management engineering from Tsinghua University. From 1986 to 1987, Mr. Yi was in charge of the Beijing Municipal Government Economic Structure Reform Committee and from 1987 to 1991, he served as the Chief of the Xicheng District of Beijing. Since 1991, Mr. Yi has been an assistant to the Mayor of Beijing as well as Director of the Economic and Foreign Trade Commission of Beijing Municipality and the Management Committee of the Beijing Economic and Technology Development Zone. Mr. Yi has in-depth knowledge and a wealth of experience in macroeconomic and microeconomic management.

Senior Management

Mr. LI Hong, age 44, is one of our senior vice presidents and oversees project management. Prior to joining our company in 1997, Mr. Li worked for China Agricultural Development Trust Investment Co., Ltd. from 1994 to 1997 and China Construction Technology Design & Research Centre from 1985 to 1994. Mr. Li received a Bachelor of Science degree from the School of Architecture, Harbin Institute of Technology in 1985. He has 18 years of relevant experience in the real estate development industry in China. Mr. Li has not in the last three years, and does not currently, hold any directorships in any listed companies.

Mr. XU Yang, age 47, is one of our senior vice presidents and oversees marketing, rental and customer service. Prior to joining our company in 1999, Mr. Xu was a teacher at the University of Science and Technology of Beijing since 1982 and was an associate professor from 1991 to 1996. He worked for the Beijing Jing Long Plaza Property Management Co., Ltd. from 1996 to 1998. Mr. Xu graduated from the University of Science and Technology of Beijing. He has eight years of relevant experience in the real estate development industry in China. Mr. Xu has not in the last three years, and does not currently, hold any directorships in any listed companies.

He worked for the Beijing Jing Long Plaza Property Management Co., Ltd. from 1996 to 1998. Mr. Xu graduated from the University of Science and Technology of Beijing. He has eight years of relevant experience in the real estate development industry in China. Mr. Xu has not in the last three years, and does not currently, hold any directorships in any listed compaies.

Ms. TONG Ching Mau, age 37, is our director of corporate finance and business development. She performs corporate finance, investor relations and business development functions. Prior to joining our company in 2002, she worked for Junan Securities Co., Ltd. from 1994 to 1997 as an analyst in its research department in Shenzhen. From 1997 to 1999, she worked for J&A Securities (Hong Kong) Limited in its investment banking division in Hong Kong. From 2001 to 2002, she worked in the investment banking division of Credit Suisse First Boston in New York. Ms. Tong received her Bachelor and Master of Economics from Shanghai Fudan University in 1991 and 1994 and her Master's degree in Business Administration from Yale University in 2001. She has 13 years of relevant experience in finance and more than four years experience in the real estate development industry in China. Ms. Tong has not in the last three years, and does not currently, hold directorship in any listed companies.

Qualified Accountant

Mr. ZHAO Guilin, aged 43, is also a member of our senior management, is a qualified accountant and our financial controller, responsible for our financial management, accounting and audit, taxation, financial report, bank credit and other day-to-day financial administration. Mr. Zhao has more than 20 years' working experience, and has worked with us for ten years on a full time basis. Before joining the Company in September 1996, Mr. Zhao served as a financial manager with Beijing Vantone Industrial Co. Ltd. from 1995 to 1996. From 1986 to 1995, he taught accounting at Beijing Technology and Business University and was an associate professor from 1994. Mr. Zhao was registered as a Hong Kong CPA with effect from 15 May 2007. From 2002 to 2004, Mr. Zhao took an Australian CPA course on an in-service basis and obtained a master's degree in accounting from Deakin University of Australia and qualified as a certified public accountant in Australia. He qualified as a PRC registered taxation adviser in 1998 and qualified as a PRC certified public accountant in 1994. Mr. Zhao graduated from Jilin University in 1988 with a master's degree in technology.

Company Secretary

Mr. NGAI Wai Fung, age 45, is our company secretary. Mr. Ngai is a director and head of listing services of KCS Limited, a corporate secretarial and accounting services provider in Hong Kong. Mr. Ngai is currently vice president of the Hong Kong Institute of Chartered Secretaries ("HKICS") and the chairman of its China Affairs Committee. He is also a fellow of HKICS and the Institute of Chartered Secretaries and Administrators in the United Kingdom and a member of the Association of Chartered Certified Accountants and the Hong Kong Institute of Certified Public Accountants. Mr. Ngai holds a master degree in corporate finance from the Hong Kong Polytechnic University, a master degree in business administration from Andrews University of the United States and a bachelor degree in law (with honours) from the University of Wolverhampton, the United Kingdom. Mr. Ngai will discharge his duty as the Company Secretary with the support of KCS Limited.