Newsroom

Ground-Breaking Ceremony for the Full-Fledged Operation and Production Complex

(Hong Kong, 2 June 2011) – PICO Far East Holdings Limited (“PICO” or the “Group”, SEHK: 0752), today announced the ground breaking of a 45,000-square-metre operation and production complex (“the complex”) for its Regional Headquarters in Shanghai. Named Pico Creative Centre, the complex will be home to Pico’s core business units encompassing marketing, operations and R&D functions, and is expected to begin operation in early 2013.

Pico Creative Centre is located in Anting County, which is within 25 minutes distance from the central business district of Shanghai, as well as Hong Qiao International Airport and the People’s Square of Shanghai.

The expansion is aimed at further strengthening Pico’s presence and growing customer base in China. The all-in-one Pico Creative Centre demonstrates Pico’s unique and unrivalled strengths across a wide spectrum of specialized services, as well as its knowledge and expertise in Total Brand Activation.

As part of the Group’s corporate social responsibility, Pico Creative Centre is designed with eco-friendly features. State-of-the-art energy-saving technologies, including an underground heating system, a solar energy system and rain harvesting system, have been implemented throughout the complex.

A ground-breaking ceremony has been held on 21 May 2011 with Jiading District and Anting County Government officials as officiating guests of honour.

During the ceremony, Mr. Lawrence Chia, Chairman of Pico’s said, “On behalf of Pico Group, I would like to extend my sincere appreciation to all supports and patronage we have been receiving from the Jiading District and Anting County government throughout the last few years in particular to planning and preparation of this Pico Creative Centre project. With all these, Pico is able to have our regional headquarters established in the Anting County, one of the largest automobile base in China. It is an honour for Pico to be a part of it and we hope we can also contribute to the prospering development of Anting, especially in creative area.”

“The establishment of regional headquarters in Shanghai is a significant milestone in realizing Pico’s goals to globalise its operations and deepen customer relations in key markets. We are confident that our strategy to strengthen regional operations and leverage on our unique strengths will be a key growth driver in the years to come.” Mr. Chia added.

About Pico Creative Centre:

Location: No. 99, Lane 4499, Cao-An Road, Anting County, Jiading District, Shanghai
Land area: approximately 32,800 sqm
Building area: approximately 45,200 sqm
Total Investment: USD15 million