Paul Hastings Advises Glorious Property Holdings on US$300 Million Senior Notes Offering

October 20, 2010

Hong Kong (October 20, 2010) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised Glorious Property Holdings Limited (Glorious Property), a leading PRC property developer based in Shanghai and listed on the Hong Kong Stock Exchange, on its US$300 million issuance of senior notes.

Standard Chartered Bank was the Sole Bookrunner and Sole Lead Manager in respect of the offering.

The Hong Kong debt capital markets are particularly active at present with an increasing number of newly-public property companies requiring funds to finance expansion, and we expect to see this trend continue into 2011. said Raymond Li, chair of the Greater China practice at Paul Hastings in Hong Kong. Paul Hastings capital markets practice continues to be involved in the structuring of some of the most ground-breaking and innovative transactions in the Asia-Pacific region such as the recent perpetual convertible securities offerings from Sino-Ocean Land and Franshion Properties.

The Paul Hastings capital markets team was led by partners Raymond Li, Vivian Lam and David Grimm, assisted by of counsel Jenny Lau and associates Erkia Wan, Ling Ling, May Lun and Matthew Smith.

Glorious Property is a long-standing and highly-valued client of Paul Hastings. The firm previously advised on Glorious Propertys approximately US$1.28 billion Hong Kong IPO, one of the largest listings in Hong Kong last year. In addition, Paul Hastings was awarded Real Estate Deal of the Year 2009 by Asian Legal Business for its role advising Glorious Property on its pre-IPO restructuring.

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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