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August 15, 2008 | admin | Comments 0

Gold Horse International, Inc. Updates Status of Key Construction Projects for 2008

Gold Horse International, Inc., (OTCBB: GHII) (”Gold Horse” or “the Company”), a multifaceted business group that operates, controls and beneficially owns construction, hotel and real estate development businesses in Inner Mongolia, the People’s Republic of China (”PRC”), today provided an update on three key construction projects in Inner Mongolia that are scheduled for completion in 2008. The total value of these projects is RMB 548.6 million ($80.1 million), with an expected net profit of RMB 54.4 million ($8.0 million).

Gold Horse International, Inc. Updates Status of Key Construction Projects for 2008

The Tian Fu Garden residential project, valued at RMB 232.5 million ($34.2 million), contains 28 buildings with construction area of 238,683 square meters. Jin Ma Construction Co. Ltd. (”Jin Ma”), an entity controlled and operated by Gold Horse, expects to complete Phase I of the Tian Fu Garden residential project — which began in March 2008 — in October 2008. Phase II of the project contains 16 buildings with construction area of 119,415 square meters. Phase II construction began in April 2008 and is expected to be completed in November 2008. Net profit for both phases of the Tian Fu Garden residential project is expected to be RMB 22.2 million ($3.3 million).

Gold Horse International, Inc. Updates Status of Key Construction Projects for 2008

The He Ban Garden residential project, valued at RMB 200 million ($29.4 million), contains nine apartment buildings covering 119,731 square meters of construction area. After successful completion of the Phase I project, Jin Ma was contracted to build Phase II of the project and started construction in March 2008. Jin Ma aims to complete the He Ban Garden residential project in November 2008. Net profit for the project is expected to be approximately RMB 20 million ($2.9 million).

Gold Horse International, Inc. Updates Status of Key Construction Projects for 2008

The Ai Bo Garden residential apartment project, valued at RMB 116.1 million ($17.1 million), contains 11 buildings with construction area of 119,936 square meters. Jin Ma began construction on the Ai Bo Garden project in April 2008 and expects to complete the project in November 2008. Net profit for the Ai Bo Garden residential apartment project is expected to be RMB 12.2 million ($1.8 million).

Gold Horse International, Inc. Updates Status of Key Construction Projects for 2008

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