SHANGHAI, China, March 28 /Xinhua-PRNewswire/ -- Sunrise Real Estate Group, Inc. (OTC Bulletin Board: SRRE; website: http://www.sunrise.sh ) announced that it has entered into two new agency sales contracts, which are Huaseng Diamond Business Square and Shanghai Bay; both are located in Shanghai.

Huaseng Diamond Business Square consists of two buildings, with total building area 39,903 square maters. The primarily use of the buildings is office space; while there is also some commercial space. The estimated sale price is $140 million (or 1 billion RMB) according to the agreement.

Shanghai Bay complex has a river view location overlooking the Huang Pu River. It includes high-end residential, commercial, and office space units as well as a hotel section. Total floor area is 223.7 thousand square meters. Total estimated sale price is $2.27 billion (or 18 billion RMB), and estimated sale target for 2008 is $460 million (or 3.2 billion RMB) according to the agreement. Sunrise will earn commission income as a percent of sales price on both these contracts.

Forward-looking Statements

The common stock of Sunrise Real Estate Group, Inc. is quoted and traded on the OTC Bulletin Board under the trading symbol "SRRE". This press release contains forward-looking information within the meaning of section 29A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forwarding-looking statements include statements concerning plans, objectives, goals, strategies, future events or performances and underlying assumption and other statements, which are other than statements of historical facts. Certain statements contained herein are forward-looking statements and, accordingly, involve risks and uncertainties, which could cause actual results, or outcomes to differ materially from those expressed in the forward-looking statements. The Company's expectations, beliefs and projections are expressed in good faith and are believed by the Company to have a reasonable basis, including without limitations, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties, but there can be no assurance that management's expectations, beliefs or projections will result, or be achieved, or accomplished.



    For more information, please contact:

     Lyman Huang
     Sunrise Real Estate Group, Inc.
     Tel:   +86-21-6422-0505 x105
     Email: ir@sunrise-sh.net
     Web:   http://www.sunrise.sh

SOURCE Sunrise Real Estate Group, Inc