Lentuo International Inc. announced that it has signed a letter of intent ("LOI") with the Hailin Economic and Technological Development Zone in Hailin City, Heilongjiang Province, China to jointly develop the Hailin-Lentuo Auto Mall. Located in Heilongjiang Province, the Hailin Economic and Technological Development Zone was designated as a national level development zone by the State Council in 2010. It is one of the only three national level Economic and Technological Development Zones in Heilongjiang Province.

Under the terms of the LOI, Hailin City has agreed to provide approximately 266,000 square meters for the auto mall. With the strong support of Hailin City's government and the benefit of its long experience in the car dealership business, the Company is in the process of selecting strategic investors for the project. The Hailin-Lentuo Auto Mall will include numerous full-service 4S dealerships from some of the brands with a large inventory of new and pre-owned cars, showrooms, repair and maintenance service centers, vehicle insurance vendors, leasing services, auto parts, carwash, etc.