The board of directors of Sing Lee Software Group Ltd. announced that it is expected that the consolidated losses of the Group for the year ended December 31,2011 may decrease from its results of previous corresponding year of audited consolidated losses of approximately RMB 63,664,000, principally due to a combination of: - the loss on initial recognition of warrant subscription rights recorded only for the year ended December 31, 2010; the increase in the fair value gain on derivative financial liability for the year ended December 31, 2011; - and the share-based payment arising from the grant of share option in February 2011.