Hongkong and Shanghai Hotels : 13 Jan 2017 - Proposed Hotel Development in Yangon, Myanmar

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THE HONGKONG AND SHANGHAI HOTELS, LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00045)

Proposed Hotel Development in Yangon, Myanmar

This announcement is made pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

Reference is made to the announcements made by The Hongkong and Shanghai Hotels, Limited (the "Company") on 28 January 2014, 31 March 2015, 31 December 2015, 30 June 2016 and 30 December 2016 in respect of the Proposed Hotel Development (the "Announcements").

Unless otherwise defined, all terms used herein shall be as defined in the Announcements.

The Board of Directors of the Company is pleased to announce that the Proposed Hotel Development has been approved by the Myanmar Investment Commission and has been listed as a Permitted Investment (1/2017). This is a major milestone towards satisfaction of the conditions precedent as stated in the Shareholders' Agreement. The parties will continue to work together to satisfy the prescribed conditions precedent in the Shareholders' Agreement and the Company will make an announcement once all conditions precedent have been satisfied.

Shareholders and potential investors of the Company should note that the Proposed Hotel Development may or may not proceed. Shareholders and potential investors of the Company should exercise caution when dealing in the securities of the Company.

By order of the Board Christobelle Liao Company Secretary

Hong Kong, 13 January 2017

Non-Executive Chairman The Hon. Sir Michael Kadoorie
Non-Executive Deputy Chairman	Non-Executive Directors
Andrew Clifford Winawer Brandler	Ronald James McAulay
William Elkin Mocatta
Executive Directors Managing Director and Chief Executive Officer Clement King Man Kwok Chief Operating Officer Peter Camille Borer	John Andrew Harry Leigh
	Nicholas Timothy James Colfer
	Independent Non-Executive Directors
	Dr the Hon. Sir David Kwok Po Li
	Patrick Blackwell Paul
	Pierre Roger Boppe
Dr William Kwok Lun Fung
Chief Financial Officer Matthew James Lawson	Dr Rosanna Yick Ming Wong
	Dr Kim Lesley Winser

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