Skyfame Realty : FURTHER AMENDMENT OF TERMS OF THE BONDS

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This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities of the Company.

FURTHER AMENDMENT OF TERMS OF THE BONDS

The Board announces that the Company has on 19 January 2017 executed further amendments to the two deed polls respectively dated 14 October 2014 and 14 November 2014 relating to the increase in the net gearing ratio covenant in the 2024 Bonds and 2031 Bonds.

Reference is made to the Company's announcements (i) dated 14 October 2014 and 14 November 2014 (the "Announcements") in relation to the placing of the bonds in an aggregate principal amount of up to HK$2 billion maturing on 12 September 2024 (the "2024 Bonds") and 14 November 2031 (the "2031 Bonds"); (ii) dated 25 September 2015 in relation to the amendment of the early redemption rights of the holders of the 2024 Bonds and 2031 Bonds; (iii) dated 11 December 2015 in relation to the extension of the 2024 Bonds and 2031 Bonds by twelve months; and (iv) dated 14 November 2016 in relation to the extension of the 2024 Bonds and 2031 Bonds by twelve months and increase in the maximum aggregate principal amount that may be issued under the 2031 Bonds to HK$3 billion. Unless the context requires otherwise, terms used herein shall have the same meanings as those defined in the Announcements.

AMENDMENT OF NET GEARING RATIO COVENANT OF THE BONDS

The Board announces that the Company has on 19 January 2017 executed further amendments to the two deed polls respectively dated 14 October 2014 and 14 November 2014 (collectively the "Deed Polls") relating to the increase in the net gearing ratio covenant in the 2024 Bonds and 2031 Bonds from 60% to 95%.

As at 19 January 2017, the registers of holders of the 2024 Bonds and 2031 Bonds record no holders of the 2024 Bonds and 2031 Bonds. Accordingly, the Company may amend the Deed Polls without the need to seek the approval of the holders of the 2024 Bonds and 2031 Bonds.

By Order of the Board

Skyfame Realty (Holdings) Limited YU Pan

Chairman

Hong Kong, 19 January 2017

As at the date of this announcement, the board of directors of the Company comprises four executive directors, namely Mr. YU Pan (Chairman), Mr. WEN Xiaobing, Mr. JIANG Jing and Mr. WONG Lok; one non-executive director, namely Mr. ZHONG Guoxing and three independent non-executive directors, namely Mr. CHOY Shu Kwan, Mr. CHENG Wing Keung, Raymond and Ms. CHUNG Lai Fong.