Paul Hastings Advises Far Eastern on US$160 Million Investment from Consortium of Investors

October 23, 2009

Hong Kong (October 23, 2009) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised International Far Eastern Leasing Company Limited (Far Eastern), a leader in the finance leasing industry in China and a subsidiary of Sinochem Corporation, on a US$160 million investment from a consortium of investors.

Sinochem Corporation is a PRC state-owned enterprise specializing in the chemicals, energy, agricultural, real estate and finance sectors, and was ranked tenth in the list of Top 500 Chinese Companies 2009 published jointly by the Chinese Enterprise Confederation and the Chinese Entrepreneurs Association.

While continuing to be majority held by its controlling shareholder, Sinochem Group, Far Eastern invited three strategic investors, which are an affiliate of Kohlberg, Kravis and Roberts L.P. (KKR), an investment vehicle established by GIC Special Investments Pte. Ltd. (GICSI) and an affiliate of China International Capital Corporation Limited (CICC), respectively, to invest a total of US$160 million into Far Eastern.

Vivian Lam, a corporate partner in the Hong Kong office of Paul Hastings, commented: We are delighted to have advised Far Eastern on this strategic investment into the company. The involvement of affiliates of KKR, CICC, and the investment vehicle established by GICSI, as strategic financial investors will support Far Easterns future growth as it executes its strategy to capitalize on the attractive potential in the underdeveloped financial leasing space in China. This investment will also help support the Shanghai governments long term goal of developing the city further as a global financial center.

The Paul Hastings team was led by Vivian Lam and Raymond Li, assisted by Pei Fang.

Paul, Hastings, Janofsky & Walker is a leading global law firm with offices in Asia, Europe, and the United States. We provide innovative legal solutions to financial institutions and Fortune 500 companies. Please visit www.paulhastings.com for more information.