"We chose to open an office in Xiamen due to the growth of its economy, and the strong demand for real estate services here", said Mr. Randall Hall, CEO of Savills Greater China. "The continued development of cross-strait relations has elevated Xiamen's status in China. At present, more than 8,000 multinational corporations have established their presence in Xiamen, and there are almost 500 projects invested by foreign funds in 2007, with total value of US$ 3.3 billion."

Xiamen's Gross Domestic Product (GDP) in 2007 was RMB 138.78 billion (approx. US$ 20.41 billion), an increase of 16.6 per cent from the previous year. Modern services, advanced manufacturing and high-tech industries form the pillar of Xiamen's economy.

Mr. Hall added that the opening of the Xiamen office is also an indicator of Savills' growth and continued expansion in Mainland China.

Although newly-established, Savills Xiamen has already built strong relations with well-known local developers, with several project appointments already confirmed. Xiamen C&D Co. Ltd. has appointed Savills to provide pre-completion technical consultancy services and property management consultancy services for Xiamen C&D International Building, while Hengxing Group Co. Ltd. has appointed Savills to provide pre-completion technical consultancy services for Hengxing Fortune Center.

Said Mr. Woody Lam, Managing Director of Savills Southern China: "The opening of the Xiamen office is an important element in Savills' overall development strategy in Southern China. To date, we have offices in South China, Southeast China and Southwest China. We are also honoured to be able to work with reputable developers upon our entry into Xiamen, and I am confident that we will do well in this market."

Mr. Paul Cheung, Deputy Managing Director of Savills Southern China, is responsible for the overall operations of the Xiamen office. According to Mr. Cheung, Xiamen is one of the most competitive cities in China, with a pleasant living environment and stable growth in the real estate market. "We believe that Savills will be able to generate a significant amount of business opportunities here, and will also be expanding the business to surrounding cities such as Quanzhou and Fuzhou, with Xiamen as our base", said Mr. Cheung, adding that in less than one month after opening its doors, the Savills Xiamen office already has more than 10 projects on hand, including Grade A office buildings, high-end residences and retail malls.

Note to editors:

Savills

Savills is a leading global real estate service provider listed on the London Stock Exchange. The company, established in 1855, has a rich heritage with unrivalled growth. It is a company that leads rather than follows, and now has over 200 offices and associates throughout the Americas, Europe, Asia Pacific, Africa and the Middle East.

A unique combination of sector knowledge and entrepreneurial flair give clients access to real estate expertise of the highest calibre. We are regarded as an innovative-thinking organisation backed up with excellent negotiating skills. Savills chooses to focus on a defined set of clients, therefore offering a premium service to organisations with whom we share a common goal. Savills takes a long-term view to real estate and works hard to invest in long term and strategic relationships and is synonymous with a high quality service offering and a premium brand.

About Xiamen

Xiamen is located in Southeast China, and is an international port of call and important trading centre. Xiamen's GDP in 2007 was RMB 138.78 billion (approx. US$ 20.41 billion), an increase of 16.6 per cent compared to the previous year, with average GDP of US$ 7528, ranking it number one in the Fujian Province. Industrial production, a pillar industry in Xiamen, increased steadily, and has resulted in the Xiamen's government's revenue of over RMB 30 billion in 2007. Foreign investment in Xiamen has increased rapidly. There were 474 new foreign investment projects last year valued at USD 3.272 billion, making up a third of the total foreign investment in Fujian Province.