The Board of Parkson Retail Group Limited, holders of the debt securities of the Company listed on the Hong Kong Stock Exchange and potential investors that based on preliminary review of the unaudited consolidated management accounts of the Group for the two months ended 28 February 2015 and taking into account the results of the Arbitral Award, the Board does not expect that the operating results of the Group for the first quarter of 2015 could cover the impact resulted from the Arbitral Award and therefore expects that the profit of the Group for the three months ending 31 March 2015 will decline significantly as compared with the corresponding period of year 2014.