China Housing Files Form S-3 Shelf Registration Statement; Reduces Debt Obligations

Oct 18, 2010, 09:00 ET from China Housing & Land Development, Inc.

XI'AN, China, Oct. 18 /PRNewswire-Asia-FirstCall/ -- China Housing & Land Development, Inc., ("China Housing" or the "Company," NASDAQ: CHLN) today announced that it has filed a Form S-3 shelf registration statement with the Securities and Exchange Commission to register 1,974,866 shares of common stock. This announcement relates to the Company's June 2010 8-k debt restructuring filing in which it was expected to retire approximately US$11 million of non convertible portion of the US$20 million 5% Senior Secured Convertible Notes, which were issued to certain investors in January 2008. China Housing will retire up to US$11 million Non Convertible Notes through the issuance of 1,974,866 common shares at US$5.57 per share upon the investors' request within five business days after the Form S-3 is effective. China Housing's stock is trading at US$2.26 as of October 15, 2010.

The shares being registered are owned by a group of selling shareholders that are listed in the Form S-3 filing. The selling stockholders acquired their securities through a private placement offering which closed on January 28, 2008 and was amended in June 2010. The shares may be sold to the public from time to time or at any time after the registration statement becomes effective. The selling shareholders will receive all of the proceeds from the sale of these shares. China Housing will not receive any proceeds.

A Form S-3 registration statement relating to these securities has been filed with the Securities and Exchange Commission, but has not yet become effective. These securities may not be sold under this registration nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of those securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The registration statement and all other SEC filings by the company are available for review at http://www.sec.gov/.

About China Housing & Land Development, Inc.

Based in Xi'an, the capital city of China's Shaanxi province, China Housing & Land Development, Inc., is a leading developer of residential and commercial properties in northwest China. China Housing has been engaged in land acquisition, development, and management, including the sales of residential and commercial real estate properties through its wholly-owned subsidiary in China, since 1992.

China Housing & Land Development is the first and only Chinese real estate development company traded on NASDAQ.  The Company's news releases, project information, photographs, and more are available on the internet at www.chldinc.com.

Safe Harbor Statement

This news release may contain forward-looking information about China Housing & Land Development, Inc. which is covered under the safe harbor for forward-looking statements provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. These statements can be identified by the use of forward-looking terminology such as believe, expect, may, will, should, project, plan, seek, intend, or anticipate or the negative thereof or comparable terminology, and include discussions of strategy, and statements about industry trends and China Housing & Land Development's future performance, operations, and products.

Such statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Actual performance results may vary significantly from expectations and projections. Further information regarding this and other risk factors are contained in China Housing's public filings with the U.S. Securities and Exchange Commission. All information provided in this news release and in any attachments are as of the date of the release, and the companies do not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under law.

China Housing contacts

Mr. Cangsang Huang

Chief Financial Officer

+86  29 8258 2648 in Xi'an

chuang@chldinc.com

Ms. Jing Lu

Chief Operating Officer, Board Secretary, and Investor Relations Officer

+86  29.8258.2639 in Xi'an

jinglu@chldinc.com

Mr. Shuai Luo

Investor Relations

+86  29.8258.2632 in Xi'an

laurentluo@chldinc.com

Mr. Bill Zima, ICR

+1  203.682.8233 in United States

William.Zima@icrinc.com

Ms. Annie Chen, ICR

+86  10.6599.7966 in Beijing

Annie.Chen@icrinc.com

SOURCE China Housing & Land Development, Inc.



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http://www.chldinc.com