Partial Sale of Chinese Airport Group Investment

25 February 2010 Pacific Alliance China Land Limited Partial Sale of Chinese Airport Group Investment Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is pleased to announce that Celadon Worldwide Limited ("Celadon"), a company in which PACL is a 13.33% shareholder, has sold 75% of its interest in Worldwide United Limited to China Aviation Catering Co., Ltd. for US$97 million cash. Worldwide United Limited currently has a shareholding of 24.5% in HNA Airport Holding (Group) Company Limited ("HNA Airport"). As a result of the sale, the Company received US$12,930,100 for half of its 4.9% indirect interest in HNA Airport. The Company will use the proceeds of the partial sale for reinvestment and distributions to PACL II Limited. HNA Airport is the domestic airport affiliate of Hainan Airlines (600221 CH) and Hainan Meilan Airport Group (0357 HK) that was established in 2003 to capture the growth opportunities in domestic air traffic in China.  Its aeronautical business includes the provision of airfield services, terminal facilities, ground handling services, and passenger and cargo handling services.  Its non-aeronautical businesses include leasing of commercial and retail spaces, airport-related business franchising, advertising, car parking, tourism services and sales of duty-free and consumer goods. According to HNA Airport's 2008 financials, the company recorded net profits of RMB 187.6 million (US$27.5 million). For more information, please contact: MANAGER: LEGAL COUNSEL: Chris Gradel, Managing Partner Jon Lewis, General Counsel Pacific Alliance Group Pacific Alliance Group 16/F, St. John's Building 16/F, St. John's Building 33 Garden Road 33 Garden Road Central, Hong Kong  Central, Hong Kong Tel: (852) 2918 0088 Tel: (852) 2918 0088 Fax: (852) 2918 0881 Fax: (852) 2918 0881 cgradel@pacific-alliance.com jlewis@pacific-alliance.com > BROKER: NOMINATED ADVISER: Hiroshi Funaki Philip Secrett LCF Edmond de Rothschild Securities Grant Thornton Corporate Finance Tel: (44) 20 7845 5960 Tel: (44) 20 7383 5100 Fax: (44) 20 7845 5961 Philip.J.Secrett@gtuk.com funds@lcfr.co.uk MEDIA RELATIONS: MEDIA RELATIONS: Sophie Hoggarth Andrew Walton/David Cranmer Pacific Alliance Group  Financial Dynamics, London Tel: (86) 21 6288 3788 Tel: (44) 20 7269 7217 shoggarth@pacific-alliance.com Alastair Hetherington/Christine Wood   Financial Dynamics, Asia Tel: (852) 3716 9800 Notes to editors: Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a closed-end investment company with net assets of US$198.7 million as at 31 January 2010. PACL was admitted to trading on the AIM Market of the London Stock Exchange in November 2007. PACL is focused on investing in a portfolio of existing properties, new developments, distressed projects and real estate companies in Greater China. For more information about PACL, please visit: www.pacl-fund.com Pacific Alliance China Land Limited is a member of Pacific Alliance Group, the Asian alternative investment fund management group. For more information about Pacific Alliance, please visit: www.pacific-alliance.com [HUG#1388788]