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ANNOUNCEMENT

In the past few days, Oceanwide Plaza LLC (hereinafter referred to as “Our Company”) became aware of certain inaccurate Chinese media reports referring U.S. news articles regarding the U.S. Attorney’s Office’s arrest and criminal complaint against a certain Los Angeles City Councilmember. Such Chinese media reports mentioning Our Company are categorically false and causing great damage to the operations and reputation of Our Company. We hereby make the following official announcement: 
1. Our Company strictly follows the law of the United States and local rules and regulations, operates in full compliance with all applicable law, and strictly prohibits bribery and all illegal exchanges of benefits.
2. The U.S. Attorney’s Office’s arrest and complaint against that certain Councilmember do not implicate Our Company or Our Company’s real estate development projects.
3. The U.S. Attorney’s Office’s investigation into alleged corruption of certain Councilmember began in November of 2018 has not resulted in any allegations or charges against Our Company.
Our Company reserves all legal rights to take actions against any organization or individual who misleads the public by disseminating false or inaccurate reports that may cause damage to us. 
                                                                                                                                Oceanwide Plaza LLC
                                                                                                                                    June 26, 2020

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