BRIEF-Yau Lee Holdings unit entered into JV agreement with Jiangsu First Construction

March 16 (Reuters) - Yau Lee Holdings Ltd:

* Yau Lee Wah construction entered into a jv agreement with

jiangsu first construction for formation of jv company

* Yau Lee Wah construction and jiangsu first construction

will contribute amounts of rmb35 million and rmb65 million

respectively

* Registered capital of jv company is expected to be rmb100

million

* JV company shall be, after its formation, owned as to 35%

by yau lee wah construction and 65% by jiangsu first

construction

* Term of business is 20 years

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