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Paul Hastings Advises Deutsche Bank, Hong Kong and  Shimao Property Holdings On Capital Markets Transactions

April 16, 2009

Hong Kong, April 16, 2009 Paul, Hastings, Janofsky & Walker, a leading international law firm, announced today that it has advised Deutsche Bank AG, Hong Kong, as the financial adviser of Franshion Properties (China) Limited (Franshion), a subsidiary of Sinochem Corporation, in a rights issue to raise approximately US$348.3 million.

Franshion intends to use the proceeds to fund the Company's acquisition of Jin Mao Group, which owns the Jinmao Tower, a landmark office building in Shanghai.

Separately, the firm has also advised Shimao Property Holdings (Shimao), a leading Chinese property developer listed on the Hong Kong Stock Exchange, in its HK$1.9 billion (approximately US$240 million) top-up placement. Morgan Stanley and JP Morgan were the joint book runners of the offering.

Hong Kong partners Raymond Li and Sammy Li led the Paul Hastings teams on the transactions. Raymond Li commented: "We are proud to have worked on behalf of Deutsche Bank, AG and Shimao on these transactions. The deals are clear examples of the firms expertise in these important areas of the capital markets.

The Paul Hastings team advising Deutsche Bank, AG included Raymond Li,  Phoebus Chu and Chloe Wang. The Paul Hastings team advising Shimao consisted of Sammy Li, David Grimm, Neil Torpey and Esther Fung.

Paul, Hastings, Janofsky & Walker is a leading international law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.