WhereDaily News: China Enterprises Limited Announces Closing of Agreement to Purchase Shares of Million Cube Limited

HONG KONG, CHINA--(Marketwired - Mar 27, 2015) - China Enterprises Limited ("China Enterprises" or the "Company") (OTC PINK: CSHEF) today announced that its wholly owned subsidiary, Wealth Faith Limited ("Wealth Faith") has successfully closed its previously announced a definitive agreement (the "Agreement") with Fortuneasy Limited ("Fortuneasy"). As previously announced, the Agreement provides for the purchase by Wealth Faith of 40% of the shares of Million Cube Limited ("Million Cube") from Fortuneasy. The total purchase price for the shares being acquired by Wealth Faith is HK$200 million or approximately US$25.8 million. The Company, through Wealth Faith, has previously deposited HK$154.8 million or approximately US$19.9 million in earnest money with Fortuneasy, which was applied toward the purchase price.

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