PACL.L Regulatory News (PACL)

23 December 2013

Pacific Alliance China Land Limited

Share Purchase Programme

Pacific Alliance China Land Limited ("PACL" or the "Company") (AIM: PACL) has today announced the Company will undertake a share buy-back programme ("Share Purchase Programme") pursuant to the share purchase policy adopted by the Company's Board of Directors on 23 June 2008.

The Company has appointed Edmond de Rothschild Securities (UK) Limited ("Rothschild Securities") to manage the irrevocable, non-discretionary Share Purchase Programme from 23 December 2013 to 23 March 2014. The Share Purchase Programme will commence prior to the Company's next close period, which runs from 1 January 2014 ahead of the announcement of the Company's unaudited Net Asset Value per Share for the month of December 2013.

Rothschild Securities will seek to acquire shares of the Company in the market and attempt to place them with new and existing investors. In the event that Rothschild Securities is unable to find investors to purchase some or all of said shares, the Company's wholly-owned subsidiary, PACL Trading Limited (the "Share Purchase Subsidiary" or "SPS"), will repurchase up to a maximum of US$5.0 million of said shares as part of the ongoing Share Purchase Programme at the same consideration as they were acquired in the market.

During close periods that fall within the duration of the Share Purchase Programme, which will include the two month close period ahead of the publication of the Company's audited financial results for the fiscal year ended 31 December 2013, the Company and its directors will have no power to invoke any changes to the programme and purchases will be executed at the sole discretion of Rothschild Securities.

PACL Share Purchase Policy

The following policies apply to the all purchases of the Company's ordinary shares by the SPS:

· All purchases will be funded by way of intra-group loans from the Company;

· All purchases shall be made at market prices below the last announced net asset value per share;

· The purchase price may not exceed the higher of (i) five per cent. above the volume weighted average price of the Company's shares for the five (5) business days before the purchase is made, or (ii) the higher of the price of the last independent trade and the highest current independent bid at the time of purchase;

· The maximum number of the Company's shares that may be purchased in any 12 month period is 25 per cent of the Company's issued share capital, from time to time;

· The SPS shall be prohibited from purchasing Company shares during 'close periods' (as described in the AIM Rules for Companies), without a derogation granted by the London Stock Exchange;

· The SPS shall not exercise the voting rights attaching to Company shares held by it, from time to time;

· The SPS shall waive the right to receive all dividends or other distributions in relation to shares held by it, from time to time; and

· The Company will promptly announce to the market all purchases and sales of all Company shares by the SPS without delay.

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Notes to Editors:

About Pacific Alliance China Land Limited

Pacific Alliance China Land Limited ("PACL") (AIM: PACL) is a closed-end investment company with net assets of US$308.78 million as at 30 November 2013. PACL was admitted to trading on the AIM Market of the London Stock Exchange in November 2007. PACL is focused on investing in a portfolio of existing properties, new developments, distressed projects and real estate companies in Greater China.

For more information about PACL, please visit: http://www.pacl-fund.com

Pacific Alliance China Land Limited is a member of PAG (formerly known as Pacific Alliance Group), the Asian alternative investment fund management group. Founded in 2002, PAG is now one of the region's largest Asia-focused alternative investment managers, with funds under management across Private Equity, Real Estate and Absolute Return strategies.

PAG has a presence across Asia with over 340 staff working in the region.

For more information about PAG, please visit: www.pagasia.com