JOINT ANNOUNCEMENT: DELAY IN DESPATCH OF CIRCULARS IN CONNECTION WITH THE VERY SUBSTANTIAL ACQUISITION IN RELATION TO THE ACQUISITION OF LAND USE RIGHTS

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this joint announcement.

JOINT ANNOUNCEMENT

DELAY IN DESPATCH OF CIRCULARS IN CONNECTION WITH

THE VERY SUBSTANTIAL ACQUISITION IN RELATION TO

THE ACQUISITION OF LAND USE RIGHTS

Reference is made to the joint announcement of Lai Sun Garment (International) Limited, Lai Sun Development Company Limited, eSun Holdings Limited and Lai Fung Holdings Limited (collectively, "Companies") dated 27 December 2018 in connection with the very substantial acquisition in relation to the successful bid of the land use rights of the Land offered for sale by Zhuhai Land Bureau through the Listing-For-Sale Process ("Joint Announcement"). Unless otherwise specified, capitalised terms used herein shall have the same meanings as those defined in the Joint Announcement.

As disclosed in the Joint Announcement, a circular of each of the Companies (collectively, "Circulars") containing, among other things, details of the Land Acquisition, was expected to be despatched to the respective shareholders of the Companies on or before 18 January 2019. As additional time is required to finalise the information to be included in the Circulars, it is expected that the despatch date of the Circulars will be postponed to a date on or before 28 February 2019.

By Order of the Board	By Order of the Board
Lai Sun Garment (International) Limited	eSun Holdings Limited
Chew Fook Aun	Lui Siu Tsuen, Richard
Executive Director and	Executive Director and
Deputy Chairman	Chief Executive Officer
By Order of the Board	By Order of the Board
Lai Sun Development Company Limited	Lai Fung Holdings Limited
Chew Fook Aun	Chew Fook Aun
Executive Director and	Chairman
Deputy Chairman
Hong Kong, 18 January 2019
As at the date of this joint announcement,

• (a) the LSG Board comprises six executive directors, namely Dr. Lam Kin Ming (Chairman), Dr. Lam Kin Ngok, Peter (Deputy Chairman), Mr. Chew Fook Aun (Deputy Chairman), Madam U Po Chu, Mr. Lam Hau Yin, Lester (also alternate to Madam U Po Chu) and Mr. Lam Kin Hong, Matthew; and three independent non-executive directors, namely Messrs. Leung Shu Yin, William, Lam Bing Kwan and Chow Bing Chiu;

• (b) the LSD Board comprises four executive directors, namely Dr. Lam Kin Ngok, Peter (Chairman) and Messrs. Chew Fook Aun (Deputy Chairman), Lau Shu Yan, Julius (Chief Executive Officer) and Lam Hau Yin, Lester; two non-executive directors, namely Dr. Lam Kin Ming and Madam U Po Chu; and four independent non-executive directors, namely Messrs. Lam Bing Kwan, Leung Shu Yin, William, Ip Shu Kwan, Stephen and Leung Wang Ching, Clarence;

• (c) the eSun Board comprises four executive directors, namely Messrs. Lui Siu Tsuen, Richard (Chief Executive Officer), Chew Fook Aun, Lam Hau Yin, Lester and Yip Chai Tuck; one non-executive director, namely Madam U Po Chu; and four independent non-executive directors, namely Messrs. Low Chee Keong (Chairman), Lo Kwok Kwei, David and Alfred Donald Yap and Dr. Ng Lai Man, Carmen; and

• (d) the Lai Fung Board comprises seven executive directors, namely Mr. Chew Fook Aun (Chairman), Dr. Lam Kin Ming (Deputy Chairman), Mr. Lam Kin Hong, Matthew (Executive Deputy Chairman), Mr. Lam Hau Yin, Lester (Chief Executive Officer), Madam U Po Chu, Mr. Cheng Shin How and Mr. Lee Tze Yan, Ernest; two non-executive directors, namely Mr. Lucas Ignatius Loh Jen Yuh and Mr. Puah Tze Shyang (also alternate to Mr. Lucas Ignatius Loh Jen Yuh); and five independent non-executive directors, namely Messrs. Lam Bing Kwan, Ku Moon Lun, Law Kin Ho, Mak Wing Sum, Alvin and Shek Lai Him, Abraham.