The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’) and Hong Kong Securities Clearing Company

Limited take no
responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any
liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for
securities. This announcement is not, and is not intended to be, an offer of securities of Country Garden Holdings Company Limited (the
‘‘Company’’) for sale in the United States. The Shares of the Company have not been and will not be registered under the United States
Securities Act of 1933, as amended (the ‘‘Securities Act’’) and may not be offered or sold within the United States (as defined in Regulation S
under the Securities Act) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the
Securities Act. This announcement and the information contained herein is not for release, publication or distribution in or into the United
States.
Unless otherwise defined in this announcement, terms used in this announcement shall have the same meanings as those defined in the
prospectus issued by the Company dated April 3, 2007 (the ‘‘Prospectus’’).

COUNTRY GARDEN HOLDINGS COMPANY LIMITED

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 2007)

EXERCISE OF OVER-ALLOTMENT OPTION

The Company announces that the Over-allotment Option described in the Prospectus has been exercised
in full by Morgan Stanley Dean Witter Asia Limited and UBS AG (the ‘‘Joint Global Coordinators’’)
on behalf of the International Underwriters on 24 April, 2007 in respect of an aggregate of 360,000,000
Shares, representing 15% of the Offer Shares initially available under the Global Offering.
The Over-allotment Shares will be allotted and issued by the Company at HK$5.38 per Share (excluding
the brokerage fee of 1%, SFC transaction levy of 0.004% and Stock Exchange trading fee of 0.005%),
being the Offer Price per Share under the Global Offering.

The Company announces that the Over-allotment Option described in the Prospectus has been exercised in
full by the Joint Global Coordinators on behalf of the International Underwriters on 24 April, 2007 in
respect of an aggregate of 360,000,000 Shares (the ‘‘Over-allotment Shares’’), representing 15% of the
Offer Shares initially available under the Global Offering.
The Over-allotment Shares will be allotted and issued by the Company on 27 April, 2007 at HK$5.38 per
Share (excluding the brokerage fee of 1%, SFC transaction levy of 0.004% and Stock Exchange trading fee
of 0.005%), being the Offer Price per Share under the Global Offering. The Over-allotment Shares will be
used solely to cover over-allocations in the International Offering.
Listing of and permission to deal in the Over-allotment Shares have already been granted by the Listing
Committee of the Stock Exchange. The listing of, and dealings in, such Over-allotment Shares on the Stock
Exhange are expected to commence at 9 : 30 am on 27 April, 2007.

1
The shareholding structures of the Company immediately before and immediately after the issue of the
Over-allotment Shares by the Company are as follows:

Immediately before the issue of Immediately after the issue of

the Over-allotment Shares the Over-allotment Shares
Approximate Approximate
percentage of percentage of
the Company’s the Company’s
Number of total issued Number of total issued
Shares share capital Shares share capital

Yang Huiyan (Note 1) 9,520,000,000 59.50% 9,520,000,000 58.19%

Concrete Win Limited (Note 1) 9,520,000,000 59.50% 9,520,000,000 58.19%
Yang Erzhu (Note 2) 1,632,000,000 10.20% 1,632,000,000 9.97%
Automic Group Limited (Note 2) 1,632,000,000 10.20% 1,632,000,000 9.97%
Su Rubo (Note 3) 816,000,000 5.10% 816,000,000 4.99%
Easy Hope Holdings Ltd (Note 3) 816,000,000 5.10% 816,000,000 4.99%
Zhang Yaoyuan (Note 4) 816,000,000 5.10% 816,000,000 4.99%
Acura International Global Limited
(Note 4) 816,000,000 5.10% 816,000,000 4.99%
Ou Xueming (Note 5) 816,000,000 5.10% 816,000,000 4.99%
Highlander Group Limited (Note 5) 816,000,000 5.10% 816,000,000 4.99%
Shares issued pursuant to the Global
Offering 2,400,000,000 15.00% 2,760,000,000 16.87%

Total: 16,000,000,000 100.00% 16,360,000,000 100.00%

Notes:
1. Yang Huiyan owns the entire issued share capital of Concrete Win Limited and is deemed to be interested in the 9,520,000,000 Shares
held by Concrete Win Limited. These 9,520,000,000 Shares represent the same shareholding interest and are therefore duplicated
between Concrete Win Limited and Yang Huiyan.
2. Yang Erzhu owns the entire issued share capital of Automic Group Limited and is deemed to be interested in the 1,632,000,000 Shares
held by Automic Group Limited. These 1,632,000,000 Shares represent the same shareholding interest and are therefore duplicated
between Automic Group Limited and Yang Erzhu.
3. Su Rubo owns the entire issued share capital of Easy Hope Holdings Ltd and is deemed to be interested in the 816,000,000 Shares held
by Easy Hope Holdings Ltd. These 816,000,000 Shares represent the same shareholding interest and are therefore duplicated between
Easy Hope Holdings Ltd and Su Rubo.
4. Zhang Yaoyuan owns the entire issued share capital of Acura International Global Limited and is deemed to be interested in the
816,000,000 Shares held by Acura International Global Limited. These 816,000,000 Shares represent the same shareholding interest and
are therefore duplicated between Acura International Global Limited and Zhang Yaoyuan.
5. Ou Xueming owns the entire issued share capital of Highlander Group Limited and is deemed to be interested in the 816,000,000 Shares
held by Highlander Group Limited. These 816,000,000 Shares represent the same shareholding interest and are therefore duplicated
between Highlander Group Limited and Ou Xueming.

2
The additional net proceeds to the Company of approximately HK$1,888 million from the issue of the
Over-allotment Shares by the Company will be used by the Company in the same manner as set out in the
section headed ‘‘Future Plans and Use of Proceeds’’ in the Prospectus.
Immediately after the allotment and issuance of the Over-allotment Shares, approximately 16.87% of the
issued share capital of the Company will be held in public hands.
By order of the Board
Country Garden Holdings Company Limited
Yeung Kwok Keung
Chairman

Hong Kong, 24 April, 2007

As of the date of this announcement, the executive Directors are Mr. Yeung Kwok Keung, Mr. Cui Jianbo, Ms. Yang Huiyan, Mr. Yang Erzhu,
Mr. Su Rubo, Mr. Zhang Yaoyuan, Mr. Ou Xueming, Mr. Yang Zhicheng and Mr. Yang Yongchao. The independent non-executive Directors are
Mr. Lai Ming, Joseph, Mr. Shek Lai Him, Abraham and Mr. Tong Wui Tung, Ronald.

Please also refer to the published version of this announcement in South China Morning Post.