Reference is made to the announcement of China South City Holdings Limited dated January 7, 2011 in relation to the issuance of the 13.5% Senior Notes Due 2016. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meaning as those defined in the 2011 Announcement. Pursuant to the terms of the indenture dated as of January 14, 2011 entered into among the company, the entities set forth in Schedule 1 thereto as Subsidiary Guarantors and The Hongkong and Shanghai Banking Corporation Limited, as trustee in connection with the issuance of the 2011 Notes, the company announced that it has, on January 16, 2014, informed the Trustee that the full outstanding principal amount of the 2011 Notes in the aggregate amount of USD 241,000,000, being the outstanding balance of the 2011 Notes, will be redeemed in full on February 20, 2014 at a redemption price equal to 106.750% of the principal amount thereof, plus accrued and unpaid interest to the Redemption Date.