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HONG KONG FERRY (HOLDINGS) COMPANY LIMITED

(Incorporated in Hong Kong under the Companies Ordinance)

(Stock Code: 50) UPDATE ON PROPERTY DEVELOPMENT

The Board of Directors (the "Board") of Hong Kong Ferry (Holdings) Company Limited (the "Company", together with its subsidiaries, the "Group") would like to provide an update regarding the status of the construction of a property development, namely Green Code (a project 100% owned by the Group), as at the end of the financial year 2013 and the corresponding accounting implications. As at 31 December 2013, the occupation permit of Green Code has not yet been issued due to the delay in the progress of construction. Accordingly, the sales revenue of Green Code will not be included in the audited consolidated accounts of the Group for the financial year ended 31 December 2013.

By Order of the Board Yuen Wai Kuen Company Secretary

Hong Kong, 2 January 2014

As at the date of this announcement, the executive directors of the Company are Mr. Lam Ko Yin, Colin (Chairman) and Mr. Li Ning, the non-executive directors are Mr. Au Siu Kee, Alexander, Mr. Lau Yum Chuen, Eddie, Dr. Lee Shau Kee and Mr. Wong Man Kong, Peter and the independent non-executive directors are Mr. Ho Hau Chong, Norman, Mr. Leung Hay Man, Ms. Wong Yu Pok, Marina and Mr. Wu King Cheong.

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