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Far East Horizon units to sell underlying assets for 2.35B yuan

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Far East Horizon units to sell underlying assets for 2.35B yuan

Far EastHorizon Ltd. said March 31 that two of its subsidiaries agreed tosell certain underlying assets to MinshengTonghui Asset Management Co. Ltd. for a total of 2.35 billion yuan.

As part of the proposed deals, International Far EasternLeasing Co. Ltd. will sell its assets for 1.18 billion yuan, while Far EasternHorizon (Tianjin) Financial Leasing Co. Ltd. will sell its assets for 1.17 billion yuan.

As of March 31, US$1was equivalent to 6.45 Chinese yuan.