arc MEDIA RELEASE

Harcourts' showcase in China generating "serious interest"

24 August 2010: A six-day showcase in Shanghai of more than $800 million
worth of premier New Zealand property is generating "serious interest" from
specially invited Chinese VIPs according to the organisers, Harcourts'
franchise Cooper & Co.

The successful North Shore-based company's international marketing
initiative is focused on presenting a collection of more than 50
residential, lifestyle, rural and commercial property and development
projects from around New Zealand to Chinese millionaires and billionaires
interested in investing and/or immigrating here.

Harcourts Cooper & Co Managing Director Martin Cooper says the feedback on
both the portfolio and New Zealand as a place to invest or live has been
very positive and he is confident sales will follow.

"Prior to our arrival in Shanghai there was already good interest, with
local investment groups wanting to get involved and stories in local
newspapers and television too.

"The feedback we've since had from the hundreds of high net-worth Chinese
we've presented to so far has been encouraging to say the least," he says.
"They have been impressed with our proactive approach, the specific
Harcourts listings we're marketing and what they've heard about New Zealand
more generally.

"Encouragingly a number of offers have already been made and there is
serious interest in many more of the properties and projects we've
showcased, with a lot of the potential buyers indicating they would like to
take the next step and travel to New Zealand to inspect in person what
they're interested in.

"In addition to connecting with potential buyers we've also been building
relationships with both existing and potential business partners with a view
to working together in the future, so that is another positive outcome from
this trip."

As Mr Cooper explains, in total 57 properties and projects listed by
Harcourts from Whangarei to Queenstown and with a total value of around $825
million are being showcased in the multiple sessions being held each day at
the New Zealand Trade and Enterprise Shanghai business centre, New Zealand
Central. This week Harcourts Cooper & Co has also secured the opportunity to
host invited guests at the New Zealand Pavilion at the World Expo in
Shanghai so they can learn more about New Zealand and get a taste of our
lifestyle.

The properties included in the Exposure Shanghai
initiative include Auckland waterfront
homes priced at up to $14 million and premium multi-million dollar lifestyle
properties in the Rodney District along with a selection of high-value rural
and commercial properties and exciting development projects from around the
country too.

As he explains, the guest list of more than 1200 VIPs has been built up from
various sources including successful Harcourts Albany Sales Consultant Matty
Ma (who is originally from China), immigration consultancy Austar and
Shanghai real estate development company Sunteam,

"The database we have includes people who already have connections with New
Zealand through business or for example through children studying here and
also people who knew nothing beforehand about investing or living in New
Zealand. All are looking for sound investment opportunities, with some also
considering immigration."

Harcourts New Zealand CEO Hayden Duncan says with a limited pool of local
buyers for high-end property and development projects in New Zealand
targeting overseas buyers, with clients' support, is a logical part of the
marketing mix.

"Harcourts want to achieve successful outcomes for our clients and that
means being proactive and taking the appropriate approach to reach the
maximum amount of potential buyers," he says," so I commend Cooper & Co for
the effort they are making on their clients behalf to do that.

"They have recognised that China is a key source of investment and new
immigrants and have put an immense amount of work into this project, being
the only real estate company to date to secure an opportunity to use the New
Zealand Pavilion at Expo and NZTE's New Zealand Centre, building and
connecting with an exceptional database of potential buyers in China and
establishing relationships for future marketing initiatives too."

Cooper & Co's partners in this special initiative include Luxury Portfolio,
Umoview, Open2view, ANZ, Austar Immigration Group, Sunteam and Graphic
Detail.

An 18-strong Harcourts team have made the trip to Shanghai to present the
properties to prospective buyers, with those who do not speak Mandarin being
supported by translators.

For more information visit www.shanghai2010.co.nz

ENDS

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