Central Development Holdings Limited — Capital/Financing Update 2011

Jan 14, 2011

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong 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.

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CHINA TIMBER RESOURCES GROUP LIMITED （中國木業資源集團有限公司 * ）

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 269)

CLARIFICATION ANNOUNCEMENT

Reference is made to the announcement (the “ Announcement ”) of China Timber Resources Group Limited (the “ Company ”) dated 13 January 2011. Terms defined in the Announcement take the same meaning in this announcement.

It has come to the Company’s attention that the Chinese translation of the Announcement (the “ Chinese Announcement ”) contains a typographical error. The definition of 『認購股份』which refers to “7,000,000 股新股份 ” should instead have referred to the correct number of “7,000,000,000 股新股份 ”. The correct number of Subscription Shares is correctly stated elsewhere in the Chinese Announcement.

This clarification affects no other information contained in the Chinese Announcement.

By Order of the Board

China Timber Resources Group Limited Cao Zhong

Chairman

Hong Kong, 14 January 2011

As at the date of this announcement, the Board comprises three executive Directors, namely Mr. Cao Zhong, Mr. Fung Tsun Pong and Mr. Tsang Kam Ching, David; a non-executive Director namely Mr. Neil Bush; and three independent non-executive Directors, namely Mr. Yip Tak On, Mr. Jing Baoli and Mr. Bao Liang Ming.

• For identification purposes only