Champion Real Estate Investment Trust("Champion REIT") (stock code 2778 hk) was established on 26 April 2006, in which the Group has a 48.7% interest (as at 30 June 2008). It is a real estate investment trust formed to own and invest in an income-producing portfolio of commercial properties primarily in Asia. Champion REIT was first listed on the Hong Kong Stock Exchange on 24 May 2006. Taking into account a placement of new units to partially finance the acquisition of Langham Place Office Tower and Mall completed in June 2008, Champion REIT has an aggregate of 4,419 million units in issue. As of 30 June 2008, the market capitalization of Champion REIT was HK$15,951 million.

Eagle Asset Management (CP) Limited, a wholly-owned subsidiary of the Group is the Manager of Champion REIT and is responsible for Champion REIT's investment and financing strategies, asset enhancement and acquisition and disposal policies and for overall management of Champion REIT's properties.

Champion REIT owns 1.56 million square feet of Grade-A commercial office space in Citibank Plaza in the central business district of Hong Kong as well as the office tower and shopping mall of Langham Place comprising a total floor area of 1.3 million square feet in the prime shopping district of Mongkok, Kowloon.

Champion REIT's key objectives are to provide unitholders with stable and sustainable distributions and to achieve long-term capital growth. The aim of providing attractive total returns to unitholders will be achieved by, among other things, proactive management of the properties in the trust's portfolio and the selective acquisition of properties that enhance existing yields.