AOBO Comments on Disclosure of Prior Land Acquisitions

This statement is a clarification of the facts and circumstances surrounding the purchase of two properties that AOB purchased in 2008 - the Beijing Yizhuang Project (the "J Property") and an eight-building complex located in the Beijing Economic and Technology Development District (the "L Property"). We reiterate our prior disclosure - these acquisitions do not constitute related party transactions.None of our directors or officers have or had any direct or indirect interest in the seller of these properties and none of our directors or officers personally profited from these transactions.The acquisitions of these properties were made at "arms-length" with unrelated third parties and the Company received appraisals of both properties by independent appraisers.The buyer of the properties was Golden Dragon International Investment Enterprise Limited("Golden Dragon"), which is an indirect, 100%-owned subsidiary of the Company.AOB's Chairman Tony Liu is an officer and director of Golden Dragon, but does not have any ownership interest in Golden Dragon. ( AOB owns 100% of the equity of Best Key, and Best Key owns 100% of the equity of Golden Dragon.)

In accordance with our corporate governance procedures, our audit committee, comprised of independent directors, reviewed these matters and concurred that these transactions did not constitute related party transactions.We understand that the structure of acquisitions such as these in China can be complex in order to deal with certain government licensing issues.However, in the interest of dispelling concerns that have arisen as a result of incorrect statements disseminated to the public by a party that may not have full understanding of these issues, the following are the relevant facts of the acquisition that will hopefully assuage these concerns.

In December 2007, Golden Dragon acquired, for no consideration at that time, Beijing Century East Fuel Power Science & Technology Research and Development Co. ("BCE"), which formerly owned the J Property and the L Property.Simultaneously with our subsidiary's acquisition of BCE, BCE distributed its ownership in the J Property and the L Property by contract to the owners of BCE, leaving BCE a shell company.Although the title change was never recorded in the government records, ownership of the J Property and the L Property was transferred back to the original owners of BCE, a group which did not include our Chairman Tony Liu or any other director or officer of AOB. We were not interested in acquiring the J Property or the L Property in 2007 unless various building and construction licenses were obtained for the properties which could only be issued to BCE.Accordingly, we elected to acquire the shell company if we intended to purchase the J Property and the L Property so that, if and when the relevant government licenses were issued to BCE, we would have already owned the entity.To reiterate, at the time of our subsidiary's acquisition of BCE, BCE did not have ownership of the properties and it represented no more than a shell company.

In February 2008, AOB paid a fully refundable deposit of RMB 50 million (approximately US$7 million) for the acquisition of the J Property to the former owners of BCE.Such payment was disclosed in AOB's March 31, 2008 Form-10-Q. In accordance with our letter of understanding with them, in the event that AOB did not acquire the J Property, the deposit would be refunded in its entirety and the shell company would be returned to the sellers.

In May 2008, after completion of due diligence of the J Property, including satisfactory comfort that the required license were forthcoming, our subsidiary Golden Dragon acquired the J Property for a total of $34.9 million, which includes the previous deposit.This acquisition represented less than 10% of the company's assets at the time and was therefore properly disclosed in the Company's Form 10-Q for the quarter ended June 30, 2008.

Between October and December of 2008, AOB made deposit payments for the acquisition of the "L Property".The acquisition of the L Property closed on December 31, 2008 and was properly disclosed on a Form 8-K on January 7, 2009 and was accounted for in the Company's financial statements filed on Form 10-K for the year ended December 31, 2008.We paid $69.8 million for the L Property inclusive of deposits.

We hope that this statement puts many concerns to rest.We believe that statements made publicly about these transactions by a certain third party are erroneous and untrue and are not based upon sufficient knowledge of the facts involved.Currently, our counsel is in the process of preparing a response to these statements.The Company reserves all its legal rights and remedies that may arise from any erroneous and untrue statements made by third parties.We consider the reputation and integrity of AOB to be of utmost importance to our future success and we intend to vigilantly defend it.

Golden Dragon Organization Chart