Sunrise Real Estate Group, Inc. Will Restate the Previous Financial Statements

    SHANGHAI, China, Aug. 21 /Xinhua-EMWNews/ -- The Securities and

Exchange Commission has provided Sunrise Real Estate Group, Inc. (OTC

Bulletin Board: SRRE; website: http://www.sunrise.sh ) with written

comments concerning the SRRE's Form 10-K for the fiscal year ended December

31, 2006, particularly with respect to certain revenue recognition

policies. SRRE followed these policies commencing in the fiscal year 2005.

In response to these comments, SRRE has decided restate the financial

disclosure in certain of its previously filed financial statements.

Previously filed financial statements for the fiscal year ended December

31, 2005 and subsequent periods cannot be relied upon prior to filing the

restated financial statements for such periods.



    Forward Looking Statements



    The common stock of Sunrise Real Estate Group, Inc. is quoted and

traded on the OTC Bulletin Board under the trading symbol "SRRE". This

press release contains forward-looking information within the meaning of

section 29A of the Securities Act of 1933 and Section 21E of the Securities

Exchange Act of 1934. Forwarding-looking statements include statements

concerning plans, objectives, goals, strategies, future events or

performances and underlying assumption and other statements, which are

other than statements of historical facts. Certain statements contained

herein are forward-looking statements and, accordingly, involve risks and

uncertainties, which could cause actual results, or outcomes to differ

materially from those expressed in the forward-looking statements. The

Company's expectations, beliefs and projections are expressed in good faith

and are believed by the Company to have a reasonable basis, including

without limitations, management's examination of historical operating

trends, data contained in the Company's records and other data available

from third parties, but there can be no assurance that management's

expectations, beliefs or projections will result, or be achieved, or

accomplished.






    For more information, please contact:



     Lyman Huang,

     Sunrise Real Estate Group, Inc.

     Tel:   +86-21-6422-0505 x105

     Email: [email protected]

     Web:   http://www.sunrise.sh.