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New Valley LLC, a Delaware limited liability company, is engaged in the real estate business and is seeking to acquire additional operating companies. New Valley has a 50% ownership interest in Douglas Elliman Realty LLC, which operates the largest residential real estate brokerage company in the New York metropolitan area and is the fourth- largest residential real estate brokerage company in the United States based on closed sales volume by the Real Trends broker survey.

New World China Land Limited Company Profile New World China Land is the flagship division of the New World Group in mainland China. The company is one of the country's largest national developers -- its projects include residential estates, serviced apartments, villas, offices, shopping centers, resorts, hotels, and mixed-use complexes. Its real estate portfolio includes 37 development projects spanning more than 15 cities. New World China Land is working on a number of projects for the redevelopment of the old city centers of Beijing and Tianjin. The company has been in operation since the early 1980s.

New World Development Company Limited ("NWD" or "the Group", Hong Kong stock code: 17) is a Hong Kong-based leading conglomerate. Established in 1970, the Company has been listed in Hong Kong since 1972, and is now a constituent stock of the benchmark Hang Seng Index with a total asset value exceeding HK$199.6 billion.

Newmark Knight Frank is one of the largest independent real estate service firms in the world. We provide comprehensive real estate solutions to many of the most prominent corporations, property owners, investors and developers across the globe. In January of 2006, Newmark formed a partnership with London-based Knight Frank, forming Newmark Knight Frank, a global real estate consultancy with extensive worldwide capabilities and coverage throughout North America, Europe, Asia-Pacific, Latin America, Africa and the Middle East. The Newmark Knight Frank partnership now operates more than 220 offices in established and emerging property markets on six continents. With a staff of 7,300 employees, we have created an effective global platform from which to serve the property needs of our growing list of clients.

Noddle Development uses its noodle to develop and manage commercial property in about 20 states across the US. The company has built or bought nearly 100 shopping centers and a half dozen office buildings, primarily in Iowa and Nebraska. Noddle owns about 3 million sq. ft. and manages another 3 million sq. ft. of leasable area. The shopping centers feature tenants such as Kmart, Walgreen, and Wal-Mart, among others. Noddle Development offers architectural, construction, financing, leasing, management, and marketing services.

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