Culture Landmark Investment Limited provided earnings guidance for the six months ended September 30, 2012. The board of directors of the company announced that based on a preliminary review of the unaudited consolidated management accounts of the company and its subsidiaries, expected that the group would record a significant loss. The board considers that the deterioration in the performance of the group is mainly attributable to: The significant decrease in gain on disposal of investment property for the six months ended September 30, 2012 as compared to a gain on disposal of investment property for the corresponding period in 2011.

The decline in revenue derived from the operation and an impairment loss on assets of the hotel in Zhaoqing, the PRC due to keen competition from other hotels and impairment loss on share investments due to the change in fair values of listed equity investments based on quoted market prices.