Dear Friends,

We at SOHO China is very excited to share with you the much anticipated Sanlitun contracted sales result. In this very tough market condition, we are happy to report that Sanlitun presale was indeed impressive. Sanlitun contracted presale began on July 13, 2008. Here are our results from the last 6 days:

Total contracted presale from July 13 - July 18 has already exceeded RMB 4.35 billion.

Average selling price (ASP):

Retail RMB57,000/sq.m

Office RMB36,000/sq.m

Residential RMB38,000/sq.m

Total GFA sold was approximately 87,000 sq.m.

To put the results in perspective, please consider the following:

· SOHO's contracted sales for all of 2007 was RMB 4.0 billion.

· In 2007, SOHO's record presale for Guanhualu was RMB1.3 billion in its first week. Sanlitun broke our own record by surpassing Guanghualu SOHO by 320%.

· Based on the just released Citibank China Property June 2008 contracted sales report, the combined June contracted sales from 17 developers in China was RMB12.4 billion. Our Sanlitun's six day presale in July is already 33% of the combined presales generated by 17 developers in China last month.

Mr. Pan's explanation for our achievement is that during high inflationary environment, branded commercial property in prime, central location is a compelling hedge against inflation. Furthermore, Sanlitun's comprehensive and iconic design was an attractive proposition for buyers looking for long term asset appreciation. SOHO's focus on developing critical size, central commercial properties is clearly a main contributor to our Sanlitun's success.

The strength of SOHO's sales team is again confirmed by the market. The success of Sanlitun's presale demonstrates SOHO's design and execution capability.

We want to thank the investment community for your support of SOHO China. At SOHO, we strive to continue our goal to build shareholder value and deliver outstanding results for our shareholders.