Asia Standard International : Repurchase and Cancellation of Part of the Notes

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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.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful. The notes to be issued under the Programme have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or the securities laws of any state of the United States or other jurisdiction, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act ("Regulation S")) except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company, its management and financial statements. The notes to be issued under the Programme are being offered and sold only to non-U.S. persons outside the United States in offshore transactions in reliance on Regulation S.

ASIA STANDARD INTERNATIONAL GROUP LIMITED

泛 海 國 際 集 團 有 限 公 司 *

(Incorporated in Bermuda with limited liability)

(Stock Code: 129)

CNY500,000,000 6.50% Senior Notes Due 2018 (stock code: 85918) REPURCHASE AND CANCELLATION OF PART OF THE NOTES

This announcement is made by the board (the "Board") of directors of Asia Standard International Group Limited (the "Company" together with its subsidiaries, the "Group") pursuant to Rule 37.48(a) of the Rules Governing the Listing of Securities (the "Listing Rules") on The Stock Exchange of Hong Kong Limited (the "Stock Exchange").

Reference is made to the notice of issue of the 6.50% Senior Notes due 2018 in the principal amount of CNY500,000,000 (the "Notes") by the Company and listing of the Notes on the Stock Exchange dated 17 April 2013.

The Company hereby announces that on 10 January 2017, the Group had completed the repurchase of an aggregate principal amount of CNY245,000,000 of the Notes (the "Repurchased Notes"), representing 49% of the outstanding principal amount of CNY500,000,000.

The Repurchased Notes are expected to be cancelled accordingly. After cancellation of the Repurchased Notes, an aggregate amount of CNY255,000,000 Notes remains outstanding.

Pursuant to Rule 37.48(a) of the Listing Rules, the Company will make further announcements for every subsequent 5% interval of the initial aggregate principal amount of the Notes which had been redeemed or cancelled in accordance with the terms and conditions of the Notes.

The Company may or may not purchase further Notes in the future. Holders of the Notes (the "Noteholders") and potential investors should note that any purchase of the Notes from time to time by the Company will be at the Board's sole and absolute discretion. There is no assurance of the timing, amount or price of any purchase of the Notes or whether the Company will make any further at all. Noteholders and potential investors should therefore exercise caution when dealing in any Notes.

By order of the Board of

Asia Standard International Group Limited Fung Siu To Clement

Chairman

Hong Kong, 10 January 2017

As at the date of this announcement, the executive directors of the Company are Mr. Fung Siu To, Clement, Mr. Poon Jing, Mr. Poon Hai, Mr. Poon Yeung, Roderick, Mr. Lun Pui Kan and Mr. Kwan Po Lam, Phileas, and the independent non-executive directors are Mr. Koon Bok Ming, Alan, Mr. Leung Wai Keung and Mr. Wong Chi Keung.

* for identification purpose only