Directorate Change - Re-designation

19th March, 2010

ASIAN GROWTH PROPERTIES LIMITED

Re-designation of Director

The board of directors of Asian Growth Properties Limited (the "Company") (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, announces that Mr. Richard Öther Prickett, an Independent Non-Executive Director of the Company who was appointed as the Acting Non-Executive Chairman and the Chairman of the Audit, Nomination and Remuneration Committees of the Company on 30th November, 2009, has been re-designated as the Non-Executive Chairman of the Company with effect from 18th March, 2010.

For more information, please contact:

Lu Wing Chi Tel: +852 2828 6363

Executive Director

Asian Growth Properties Limited

Richard Gray Tel: +44 207 459 3600

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)