Kingold Obtains Presale Approval for Kingold Jewelry International Industry Park

Kingold Jewelry, Inc. ("Kingold" or "the Company") KGJI, one of China's leading manufacturers and designers of high quality 24-karat gold jewelry, ornaments and investment-oriented products, today announced that the Company has obtained approval from the Wuhan Housing Security and Management Bureau in Wuhan, China to pre-sell certain commercial units within the Kingold Jewelry International Industrial Park (the "Jewelry Park"). Construction at Kingold Jewelry International Industrial Park - Wuhan, China, January 20, 2015 The Company formally received two separate "Certificates of Presale of Commercial Properties" from Wuhan Housing Security and Management Bureau, which cover five commercial buildings, totaling approximately 123,600 square meters (approx. 1,330,000 square feet). The Company is now seeking potential buyers for these commercial properties, and is expected to utilize any proceeds from the presale of these units to complete construction on the Jewelry Park. Kingold expects to complete the Jewelry Park within the previously announced timeframe, and plans to schedule a grand opening ceremony in December 2015. Zhihong Jia, Chairman and CEO of Kingold, stated, "We are pleased to have received approval from the local government to move forward in pre-selling several of our properties, which was a necessary requirement as we move forward. We have received considerable interest in the properties from potential buyers as the Jewelry Park has begun to take shape, and are focused on completing all phases of the development for this project. We are now focused on the interior and exterior design elements and expect to remain on track to open the Jewelry Park by December 2015." In October 2013, Kingold entered into an agreement to acquire the operating rights for 66,667 square meters (approximately 717,598 square feet, or 16.5 acres) of land in Wuhan for an aggregate purchase price of RMB1 billion (approximately US$164 million at the then effective spot rate). The Company intends to utilize the completed Jewelry Park as its new operation center and show room. Kingold also plans to rent space within the Jewelry Park to other jewelry manufacturers in China, in addition to selling developed commercial and residential properties to individual and corporate buyers.