Paul Hastings Advises Citi, Morgan Stanley and UBS on US$1.05 Billion Hong Kong IPO and Global Offering of Longfor Properties

November 19, 2009

Hong Kong (November 19, 2009) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Citigroup Global Markets Asia Limited (Citi), Morgan Stanley Asia Limited (Morgan Stanley) and UBS AG Hong Kong Branch (UBS) as the joint sponsors, joint global coordinators, joint bookrunners and joint lead managers in the US$1.05 billion Hong Kong IPO and global offering of Longfor Properties Company Limited, a leading PRC property developer. The listing comprised a Hong Kong public offering and an international offering, including a placement under Reg S/Rule 144A.

We are delighted to have advised Citi, Morgan Stanley and UBS on this successful Hong Kong IPO and global offering, said Sammy Li, a partner in the Paul Hastings capital markets practice in Hong Kong. The IPO has been incredibly well received, pricing near the top end of the indicative price range with an over-subscription of approximately 57 times.

Raymond Li, chair of Paul Hastings Greater China practice, commented: Our capital markets practice is one of the most active in Asia. Since July, Paul Hastings has advised on five successful IPOs valued in excess of US$3.6 billion, highlighting our extensive activities in Hong Kong.

The Paul Hastings team was led by capital markets partners Raymond Li and Sammy Li, assisted by associates Esther Fung, May Lun and Catherine Chu. The U.S. capital markets team on the transaction was led by David Wang assisted by associate Edward Hsu.

Paul, Hastings, Janofsky & Walker is a leading global 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.

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