TR-1: Notification of Major Interest in Shares

1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:

CHINA PRIVATE EQUITY (CPEH)

2. Reason for the notification

(please tick the appropriate box or boxes)

An acquisition or disposal of voting rights

YES

An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

N/A

An event changing the breakdown of voting rights

N/A

Other

(please specify):

N/A

3. Full name of person(s) subject to the notification obligation:

GATEWAY SINO LIMITED

4. Full name of shareholder(s) (if different from 3.):

N/A

5. Date of the transaction (and date on which the threshold is crossed or reached):

THURSDAY 11th NOVEMBER 2010

6. Date on which issuer notified:

MONDAY 15th NOVEMBER 2010

7. Threshold(s) that is/are crossed or reached:

BELOW 3%

8. Notified details:

A: Voting rights attached to shares

Class/type of shares

if possible using the ISIN CODE

Situation previous to the triggering transaction

Resulting situation after the triggering transaction

Number of Shares

Number of Voting Rights

Number of shares

Number of voting rights

% of voting rights

Direct

Direct

Indirect

Direct

Indirect

VGG215911055

3,461,325

1,861,325

2.92%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financial instrument

Expiration date

Exercise/ Conversion Period/ Date

Number of voting rights that may be acquired if the instrument is exercised/ converted.

% of voting rights

N/A

Total (A+B)

Number of voting rights

Percentage of voting rights

1,861,325

2.92%

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will cease to hold:

N/A

12. Date on which proxy holder will cease to hold voting rights:

N/A

13. Additional information:

14. Contact name:

STEPHEN LAM

15. Contact telephone number:

+852-2180-9292 (or +852-2861-0618)