CHINA OVERSEAS GRAND OCEANS : Announcements and Notices - Resignation of Executive Director and Alternate Authorized Representative

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.

(incorporated in Hong Kong with limited liability)

(Stock Code: 81) RESIGNATION OF EXECUTIVE DIRECTOR AND ALTERNATE AUTHORIZED REPRESENTATIVE

The board of directors (the "Board") of China Overseas Grand Oceans Group Limited (the "Company") announces that Mr. Xiang Hong has resigned as Executive Director, Vice President and the alternate Authorized Representative to Mr. Xiao Xiao of the Company with effect from 10 January 2017 to pursue personal development.

Mr. Xiang Hong confirmed that he has no disagreement with the Board and there is no other matter relating to his resignation that needs to be brought to the attention of The Stock Exchange of Hong Kong Limited and the shareholders of the Company.

The Board would like to take this opportunity to thank Mr. Xiang Hong for his valuable contributions to the Company during his tenure.

By Order of the Board

CHINA OVERSEAS GRAND OCEANS GROUP LIMITED

Xiao Xiao

Chairman and Non-Executive Director

Hong Kong, 10 January 2017

As at the date of this announcement, the Board comprises seven Directors, of which two are executive Directors, namely, Mr. Zhang Guiqing and Mr. Paul Wang Man Kwan; two non-executive Directors, namely Mr. Xiao Xiao and Mr. Billy Yung Kwok Kee, and three independent non-executive Directors, namely Dr. Timpson Chung Shui Ming, Mr. Jeffrey Lam Kin Fung and Mr. Dantes Lo Yiu Ching.