Re: Grant of share options

China Real Estate Opportunities SA 
25 September 2006




                      China Real Estate Opportunities S.A.

                              Grant of share options


25 September 2006
                            
The Directors announce that options have been conditionally granted over 920,000
ordinary shares in the Company, equivalent to 5 per cent. of its current issued
share capital. The options, which were granted on 1 February 2006, are not
exercisable before 1 February 2008, and their exercise is conditional, inter
alia, on the Company having made an acquisition or acquisitions with a gross
value of £100 million or more.


The options, exercisable at €1.25 per share being the price at which ordinary
shares were issued when the Company was launched in December, 2005, were granted
to the directors of the Company and others involved in the day to day activities
of the Company in China. The number of options granted to directors of the
Company is as follows:


Ray Horney, Guy Leech and Rory Williams:     75,000 each
Richard Barrett:                             365,000



Enquiries:

Ray Horney                                            01273 775225
Chairman

Simon Rothschild                                      020 7367 8888
Bankside Consultants Limited




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