August 22/Shanghai/Press Release -- Kirin Holdings Company Ltd. and China Resources Enterprise Ltd. have proceeded with the preparation to establish a joint venture and completed the procedures, which was announced in the previous news release "Kirin and China Resources Enterprise, Limited agreed to establish a Non-Alcohol Beverage Joint Venture in China" dated January 24, 2011.
Through a series of procedures, China Resources Kirin Beverages (Greater China) Company Ltd. has been established with 40% and 60% shares held by Kirin and China Resources Enterprise respectively. Accordingly, Kirin's stake in each of its subsidiaries, Shanghai JinJiang Kirin Beverage & Food Co., Ltd., Kirin Beverage (Shanghai) Co., Ltd., Shanghai Kirin Beverage & Food Co., Ltd., Beijing Flying Kirin Beverage Co., Ltd., will be soon transferred to under China Resources Kirin Beverages Group.