Town Ray : VOLUNTARY ANNOUNCEMENT INCLUSION IN THE MSCI HONG KONG MICRO CAP INDEX

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(STOCK CODE: 1692)

VOLUNTARY ANNOUNCEMENT

INCLUSION IN THE MSCI HONG KONG MICRO CAP INDEX

This announcement is made by Town Ray Holdings Limited (the ''Company'', together with its subsidiaries, the ''Group'') on a voluntary basis.

The board of directors (the ''Board'') of the Company is pleased to announce that the shares of the Company will be included as a constituent stock of the MSCI Hong Kong Micro Cap Index with effect after close of market on 27 May 2021.

The MSCI Hong Kong Micro Cap Index is designed to measure the performance of the micro cap segment of the Hong Kong market. The Board believes that the Company's inclusion into such index of MSCI represents capital market's recognition of the Company's performance and value, which is expected to enhance the Company's reputation and increase the trading liquidity of the Company, resulting in realization of the value of investment in the Company.

By order of the Board

TOWN RAY HOLDINGS LIMITED

Chan Kam Kwong Charles

Chairman and non-executive Director

Hong Kong, 13 May 2021

As at the date of this announcement, the Board comprises Mr. Chan Wai Ming, Mr. Chiu Wai Kwong, Ms. Tang Mei Wah and Mr. Yu Kwok Wai as executive Directors; Dr. Chan Kam Kwong Charles and Ms. Cheng Yuk Sim Connie as non-executive Directors; and Mr. Chan Ping Yim, Mr. Choi Chi Leung Danny and Mr. Chan Shing Jee as independent non- executive Directors.