Notice of a Substantial Shareholder"s Interest *

* Asterisks denote mandatory information

Name of Announcer *	PAN HONG PROPERTY GROUP LTD
Company Registration No.	37749
Announcement submitted on behalf of	PAN HONG PROPERTY GROUP LTD
Announcement is submitted with respect to *	PAN HONG PROPERTY GROUP LTD
Announcement is submitted by *	Wong Lam Ping
Designation *	Executive Chairman
Date & Time of Broadcast	06-Nov-2007 18:11:49
Announcement No.	00128

>> Announcement Details

The details of the announcement start here ...

>> PART I

1.

Date of notice to issuer *

30-10-2007

2.

Name of Substantial Shareholder *

Hwa Hong Corporation Limited ("HHCL")

3.	Please tick one or more appropriate box(es): *
	Notice of a New Substantial Shareholder"s interest. [Please complete Part II and IV]

>> PART II

1.

Date of change of Deemed Interest

30-10-2007

2.

Name of Registered Holder

Singapore Warehouse Company (Private) Ltd. ("SWC")

3.	Circumstance(s) giving rise to the interest or change in interest	# Others
	# Please specify details	Subscription of 3,800,000 placement shares in Pan Hong. By Virtue of Section 7 of the Companies Act (Cap. 50), HHCL is deemed to have an interest in the shares of Pan Hong held by SWC and/or in which SWC has an interest. SWC is a wholly owned subsidiary of HHCL.

4.

Information relating to shares held in the name of the Registered Holder

No. of Shares held before the change 21,500,000   As a percentage of issued share capital 4.48 %   No. of Shares which are subject of this notice 3,800,000   As a percentage of issued share capital 0.78 %   Amount of consideration (excluding brokerage and stamp duties) per share paid or received 0.81     No. of Shares held after the change 25,300,000   As a percentage of issued share capital 5.16 %

>> PART III

1.

Date of change of [Select Option]

2.

The change in the percentage level

From % To %

3.	Circumstance(s) giving rise to the interest or change in interest	[Select Option]
	# Please specify details

4.

A statement of whether the change in the percentage level is the result of a transaction or a series of transactions:

>> PART IV

1.	Holdings of Substantial Shareholder , including direct and deemed interest :

	Direct	Deemed
No. of shares held before the change	0	21,500,000
As a percentage of issued share capital	0 %	4.48 %
No. of shares held after the change	0	25,300,000
As a percentage of issued share capital	0 %	5.16 %

Footnotes

1. The percentage of issued share capital before change is based on 480,000,000 issued ordinary shares in the capital of Pan Hong Property Group Limited as at 26 October 2007. 2. The percentage of issued share capital after change is based on 490,000,000 issued ordinary shares in the capital of Pan Hong Property Group Limited as at 30 October 2007. Note: The initial public offering of the Company"s shares was sponsored by CIMB-GK Securities Pte. Ltd.