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Pan Asian Mortgage Company Limited ("Pan Asian") today announced the launch of their 99.9% LTV Mortgage Program ("the 95 Plus Program") in partnership with Centaline Mortgage Service Company Limited ("Centaline"). Under the program, in addition to a LTV mortgage of 95%, Pan Asian will also provide financing for the related transaction costs including stamp duty, solicitor fee, property agency fee and Program Participation Fee as part of the mortgage loan for a total LTV of up to 99.9% of the property purchase price. The loan tenor available is up to 30 years.

"When we launched our pioneering 95% LTV one-stop mortgage loan in June 2004, the market response was overwhelming and other service providers began to offer similar products. In the past year, property prices have increased substantially in Hong Kong which has prompted new home buyers to make higher down payments. Therefore, Pan Asian has decided to launch the new and more flexible 95 Plus Program to meet the increasing market demand" said Leland Sun, Pan Asian's Chief Executive Officer.

The 95 Plus Program provides a one-stop mortgage service solution to the primary and secondary property market. The maximum loan amount under the Program is $12 million. The Program accepts individuals (including self-employed borrowers) and shell companies as borrowers and requires the property to be owner-occupied. There are no limits on the sum of age of property and loan tenor, and the sum of age of borrower and loan tenor. Pan Asian will consider the merits of each application on a case-by-case basis. The Program also accepts non-cash out mortgage refinancing.

"The local economy is recovering and the secondary property market has demonstrated strong growth. We believe that the launch of a comprehensive mortgage product by an innovative financial services company such as Pan Asian will result in synergy in the growing property market. In fact, the 140% LTV Negative Equity Mortgage Refinancing Program launched by Pan Asian has already proved to benefit negative equity homeowners." said Mr. Alex Tang, Associate Director, Centaline Property Agency Limited.

Pan Asian will work with its program participating lenders to provide a 24-hour approval and pre-approval service to homeowners. The risk in excess of the 70% LTV will be fully undertaken by Pan Asian. Therefore, the 95 Plus Program will not result in additional risk to the banking system. In the wake of its launch of the first-ever 95% LTV one-stop Mortgage Program in June last year, Pan Asian is pleased to launch another initiative providing an innovative mortgage product that is beneficial to all parties. As a private financial services company, Pan Asian participates in the high risk mortgage financing market by occupying a unique role in the market by offering home-buyers greater mortgage financing convenience and flexibility, without increasing risk in the banking system or risking the use of public assets.

About Pan Asian Mortgage Company Limited
Pan Asian is an innovative financial services company breaking new ground in asset securitization in Asia. It is involved in the financing, structuring, servicing and securitization of residential mortgages, credit card and consumer loan receivables. Founded in 2000, the company comprises a team of financial experts with unparalleled experience in real estate finance, asset and mortgage securitization in Asia, risk management, structured finance, international debt capital markets and local market funding.