Paul Hastings Advises J.P. Morgan on Huabao Internationals HK$1.16 Billion Share Placement

October 08, 2009

Hong Kong (October 8, 2009) Paul, Hastings, Janofsky & Walker, a leading global law firm, announced today that it has advised J.P. Morgan Securities (Asia Pacific) Limited (J.P. Morgan) as the sole bookrunner in the HK$1.16 billion (approximately US$150 million) selldown of existing shares in Huabao International Holdings Limited, by its controlling shareholder.

This is the latest in a series of share placements that Paul Hastings has successfully closed. Despite the challenging market conditions this year, since April the firm has advised on placements in which approximately US$1.5 billion has been raised.

We are delighted to have advised J.P. Morgan on this placement, said Raymond Li, a partner in the Paul Hastings capital markets practice in Hong Kong and chair of the firms Greater China practice. This transaction further demonstrates Paul Hastings expertise in advising on accelerated bookbuilt deals, as we have recently advised on numerous placements in Hong Kong, for banks, issuers and their shareholders. We see this as a continuing trend and the firm is well placed to advise on future transactions.

Hong Kong capital markets partner Sammy Li also advised on the transaction assisted by associates Chloe Wang, Vicky Ko and Zoe Lau.

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.