Article

* This transcript translation has been provided by Mr. JIN Saibo, a partner of Commerce & Finance Law Offices. jinsaibo@tongshang.com

Applicant: Siemens International Trade Co., Ltd (Shanghai), domiciled at Building 3,No.88 Maji Road, Waigaoqiao Baoshui Zone, Pudong New District, Shanghai

Legal Representative: Ghim Ha Jill Lee, President of the Board

Respondent: Shanghai Gold Real Estate Co., Ltd, domiciled at Building 2, Pudong Garden Villa, No.476 Mingyue Road, Pudong New District, Shanghai

During arbitration by China International Economic and Trade Arbitration Commission ("CIETAC") for the construction contract dispute between Siemens International Trade Co., Ltd (Shanghai) ("Applicant") and Shanghai Gold Real Estate Co., Ltd ("Respondent"), the Applicant applied for property preservation on November 7, 2007, requesting a proportion of the Respondent's property worth RMB 1,720,480 to be sealed up, seized and frozen. CIETAC submitted the application for property preservation to the court on November 11, 2007.

The court holds that the application for property preservation backed by a guarantee from the Applicant complies with stipulations of the law. In accordance with Article 28 of Arbitration Law of the People's Republic of China and Article 92 and 94 of the Civil Procedure Law of the People's Republic of China, the court made the following judgment:

A bank deposit of RMB 1,720,480 belonging to the Respondent shall be frozen or a property of the same value possessed by the Respondent shall be sealed up and seized.

This judgment shall be executed upon service.

The parties concerned may apply for reconsideration. During the period of reconsideration, execution of this judgment shall be continued.

Acting Judge Huang Qiang

November 11, 2007

Clerk of the court, Zhai MinQiang

COPYRIGHT OF THE INSTITUTE OF INTERNATIONAL BANKING LAW & PRACTICE

The views expressed in this Case Summary are those of the Institute of International Banking Law and Practice and not necessarily those of ICC or the other partners in DC-PRO.