A8 New Media : DELAY IN DESPATCH OF CIRCULAR IN RELATION TO (1) CONNECTED TRANSACTION – ISSUE OF NEW SHARES UNDER S

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this 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 announcement.

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

A8 New Media Group Limited A8新媒體集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 800) DELAY IN DESPATCH OF CIRCULAR IN RELATION TO

1. CONNECTED TRANSACTION - ISSUE OF NEW SHARES UNDER SPECIFIC MANDATE; AND
2. APPLICATION FOR WHITEWASH WAIVER

Reference is made to the announcement of the Company dated 21 December 2016 ("Announcement") in relation to, among other things, the Subscription and the Whitewash Waiver. Unless otherwise defined, terms used in this announcement shall have the same meaning as defined in the Announcement.

As stated in the Announcement, a circular ("Circular") containing, among other things, (i) details of the Subscription; (ii) details of the application for the Whitewash Waiver; (iii) details of the Specific Mandate; (iv) a letter of advice from the Independent Board Committee to the Independent Shareholders; (v) a letter of advice from the Independent Financial Adviser to the Independent Board Committee and the Independent Shareholders; and (vi) a notice of the EGM, will be despatched to the Shareholders on or before 11 January 2017.

As additional time is required to (i) finalise certain information for inclusion in the Circular including, among other things, the letter of advice from the Independent Financial Adviser and the financial information of the Group; and (ii) to bulk-print the Circular, the date of despatch of the Circular will be postponed to on or before 25 January 2017. Pursuant to Rule 8.2 of the Takeovers Code, an application has been made by the Company to the Executive for its consent to extend the date of despatch of the Circular from 11 January 2017 to on or before 25 January 2017, and the Executive has indicated that it is minded to grant such consent.

On behalf of the Board

A8 New Media Group Limited Chairman & Executive Director Liu Xiaosong

Hong Kong, 11 January 2017

As at the date of this announcement, the Board of the Company comprises:

1. Executive Directors namely Mr. Liu Xiaosong and Mr. Liu Pun Leung; and

2. Independent Non-Executive Directors namely Mr. Chan Yiu Kwong, Ms. Wu Shihong and Mr. Li Feng.

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement (other than that relating to the Subscriber and parties acting in concert with it) and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement (other than those expressed by the Subscriber and parties acting in concert with it) have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.

The sole director of the Subscriber, namely Mr. Liu Xiaosong, accepts full responsibility for the accuracy of the information contained in this announcement (other than that relating to the Company) and confirms, having made all reasonable enquiries, that to the best of his knowledge, opinions expressed in this announcement (other than those expressed by the Directors and the Company) have been arrived at after due and careful consideration and there are no other facts not contained in this announcement, the omission of which would make any statement in this announcement misleading.