Grant of options

China Real Estate Opportunities Ltd
25 January 2008


                    China Real Estate Opportunities Limited

                                Grant of options

China Real Estate Opportunities Limited ("CREO" or the "Company") announces 
that, following the departure of Eugene Cui from Treasury Holdings China 
Limited, the Company's investment manager, options over 55,000 shares in the 
Company granted to him upon the flotation of the Company in July 2007 have 
lapsed in accordance with the rules of the Company's share option scheme.

Further to the appointment of Richard David as Managing Director of Treasury
Holdings China Limited in (August) 2007, options over 30,000 shares in the
Company have today been granted to him, exerciseable at 806.5 pence per share,
being the mid-market price at the close of business on 24 January 2008. The
options are exerciseable between 3 and 10 years from grant in accordance with
the rules of the share option scheme. These options are in addition to the
options over 35,000 ordinary shares already held by him with an exercise price
of £7.56 per share.

Enquiries to:

CREO
Ray Horney                                          Tel: + 44 (0) 1273 775 225

Landsbanki Securities (UK) Limited                  Tel: + 44 (0) 20 7426 7736
Paul Fincham
Jonathan Becher
Robert Naylor

Bankside Consultants Ltd                            Tel: + 44 (0) 20 7367 8888
Simon Rothschild
Oliver Winters

Murray Consultants
Ed Micheau                                          Tel: + 353 1 498 0300



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