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PYI Corporation Limited

(Incorporated in Bermuda with limited liability)

(Stock code: 498) VOLUNTARY ANNOUNCEMENT FULL SETTLEMENT OF CONSIDERATION FOR DISPOSAL OF 50.1% INTEREST IN JIANGSU YANGKOU PORT DEVELOPMENT AND INVESTMENT CO., LTD.

Reference is made to the announcement of PYI dated 1 February 2011 and the circular of PYI dated 25 February 2011 ("Circular") in relation to the disposal of 50.1% interest in Yangkou Port Co ("Disposal"), and the announcement of PYI dated 1 June 2011 in relation to the completion of the Disposal. Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.
The Board is pleased to announce that on 18 December 2012, Glory Well, the vendor of the Disposal and a wholly-owned subsidiary of PYI, and Ritai, the purchaser of the Disposal, have agreed on early and full settlement of all deferred Consideration of RMB602.8 million for the Disposal and accrued interest of approximately RMB65.2 million up to 20 December 2012, and that, on 27 December 2012, Glory Well has received an aggregate sum of approximately RMB657.8 million in cash in Hong Kong, being all the deferred Consideration comprising a sum of RMB301.4 million to be paid on or before 31 December 2012 and a sum of RMB301.4 million to be paid on or before
31 December 2013 together with all the accrued interest of approximately RMB55 million after deduction of PRC taxes and levies of approximately RMB10.2 million.
By Order of the Board PYI Corporation Limited Lau Ko Yuen, Tom

Chairman and Managing Director

Hong Kong, 2 January 2013

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As at the date of this announcement, the composition of the Board of the Company is as follows:

Mr. Lau Ko Yuen, Tom : Chairman and Managing Director

Mr. Chan Yiu Lun, Alan : Executive Director

Dr. Chan Kwok Keung, Charles : Non-Executive Director

(with Mr. Chan Yiu Lun, Alan as alternate)

Mr. Chan Shu Kin : Independent Non-Executive Director Mr. Leung Po Wing, Bowen Joseph GBS, JP : Independent Non-Executive Director Mr. Li Chang An : Independent Non-Executive Director Ms. Wong Lai Kin Elsa : Independent Non-Executive Director

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