Saturday, 24 October 2009

Visit of Chinese delegation & 'In principle' agreement to purchase land

China Gateway International (CGI), the AIM listed property company, announces that it has hosted a delegation from the Chinese Peoples Association for Friendship with Foreign Countries, including the Honorary President of the China Friendship Foundation, Madam Li Xiaolin, the daughter of the former President of China Li Xiannian. Also in the delegation were Mr Yao Mingyu, the Vice Chairman and Secretary General of the Chinese People's Association for Friendship with Foreign Countries, and Mr Lu Changhe from the China National Culture and Art Company. The delegates were also accompanied by Mr Hu Yuandong, the Head of the United Nations Industrial Development Organisation (UNIDO) Investment Technology Promotions Office (ITPO), Beijing.

The purpose of the visit was to show the delegation the Company's property at Manston and explain the concept of the China Euro Cultural Industry Hub (CECIH).
The CECIH project plans to attract up to 300 businesses & commercial organisations from China to a purpose built 'Hub' at Manston Business Park. This would be the first of the 'China Gateway' buildings to be constructed.

The Company also announces that an 'in principle' agreement has been reached with East Kent Opportunities (a joint venture between Kent County Council & Thanet District Council) for the purchase of a further 5.5 acres of land (subject to contract) at Manston Business Park, adjacent to the Company's existing land holding.

A further announcement will be made if a Contract to Purchase is entered into.

For further information, please contact:

China Gateway International PLCKen Wills +44 (0) 1843 822444

Beaumont Cornish Limited Roland Cornish +44 (0) 20 7628 3396

Square1 Consulting Ltd David Bick/Mark Longson +44 (0) 20 7929 5599

This information is provided by RNSThe company news service from the London Stock Exchange.

Ed. Sorry about the delay with this one, I got the press release late but thought it would be of interest to some people published in full, so here it is.

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