NEWBRIDGE’S ACQUISITION OF SHENZHEN DEVELOPMENT BANK

We acted for Newbridge Capital in relation to its acquisition of the controlling stake in Shenzhen Development Bank Co., Ltd.. The acquisition has recently been approved by the China Banking Regulatory Commission and the State Assets Supervisory and Administration Commission. This is the first time that a foreign investor is allowed to acquire a controlling stake in a listed commercial bank in China since 1949.

SMIC SHARE/ASSET SWAP WITH MOTOROLA

We advised Semiconductor Manufacturing International Corporation on its acquisition of a foundry plant from Motorola with consideration shares equivalent to US$300 million. This transaction was named M & A Deal of the Year in 2003 Asian Legal Business and some other journals. SCOTIISH & NEWCASTLE ACQUISTION OF SHARES IN CHONGQING BREWERY

We advised Scottish & Newcastle on regulatory compliance and information disclosure matters in connection with its acquisition of 50,000,000 shares in Chongqing Brewery, a company listed on Shanghai Stock Exchange. GRAND TOUR’S TAKEOVER OF HUA LING
We acted for Grand Tour in relation to its reverse takeover of Hualing Co., Ltd, a company listed on the Shanghai Stock Exchange. This is the first reverse takeover of a Chinese listed company by a foreign investor.

THE9 LIMITED IPO AND LISTING ON NASDAQ

We advised The9 Limited, the leading online gaming operator in China, in relation to its initial public offering and listing on NSADAQ. The issuer successfully raised more than USD100 million from the equity offering and was closed in December, 2004.

FORTE LAND CO., LTD H SHARE LISTING

We advised Morgan Stanley, the lead underwriter, in relation to the initial public offering of Forte Land Co., Ltd. at an amount of USD221 million. The offering was completed in February 2004.

SHANGHAI KRUPP PROJECT FINANCING CLOSED

We advised Shanghai Krupp Stainless Co., Ltd. on its RMB financing for its Phase II.1 development. A syndication with China Agriculture Bank as the lead manager provided a RMB loan equivalent to US$155,000,000 to Shanghai Krupp. The deal was closed on March 20, 2003. Our team was led by Jeffrey Shen (partner). The members of our team also include Jonathan Zhou (partner) and Janet Lin and Angela Chen (associates).

PUDONG GREEN BELT PROJECT FINANCING

We advised Zhong Hai Trust and Investment Co., Ltd., the trustee and arranger, on the Financing Program for the Pudong Section, Phase II of the Green Belt Project of Shanghai Outer Ring Way. By this Program, an amount about RMB190,000,000 has been raised by a private placement of the notes backed by the relevant assets of the Project. The Program is one of the pilot projects in such nature in the Chinese debt market.

XIANGCAI / CLSA JOINT VENTURE SECURITIES COMPANY

We advised Xiangcai Securities on its joint venture with CLSA. The joint venture securities company received its license from the CSRC on December 19, 2002 to undertake securities underwriting business. This is the first Sino-foreign joint venture securities company approved by the Chinese government upon China¡¯s accession to the WTO.

YAO MING vs COCA-COLA

We represented Coca-Cola in its court proceeding against Yao Ming in relation to Yao’s allegation of image rights infringement by Coca-Cola. The parties reached a settlement agreement in October, 2003.