Director/PDMR Shareholding

15 January 2016

ASIAN GROWTH PROPERTIES LIMITED

Disclosure of Directors' Deemed Shareholding Interests

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 the Company has today received notifications from the following directors of the Company reporting their respective deemed interests in the ordinary shares of US$0.05 each in the Company (the "Shares") as follows:

I. S E A Holdings Limited ("SEA") is beneficially entitled to about 97.17% of the existing issued share capital of the Company. SEA has changed its issued share capital as a result of the issue of new SEA shares to option holders who had exercised their subscription rights during the period up to 15 January 2016.

II. Mr. Lu Wing Chi (executive director of the Company) exercised his subscription rights to subscribe for 2,230,000 SEA shares on 12 January 2016.

III. NYH Limited ("NYH"), a company 100% owned by Mr. Lu Wing Chi, acquired 2,070,000 SEA shares on 13 January 2016. Immediately after this event, NYH is directly interested in 0.607% interest in SEA. Mr. Lu Wing Chi is deemed to be interested in 0.607% interest in SEA by virtue of his 100% interest in NYH.

IV. Mr. Lam Sing Tai (non-executive director of the Company) disposed of 600,000 SEA shares on 15 January 2016.

V. Nan Luen International Limited ("NLI") has a direct shareholding interest of 59.07% of the issued share capital of SEA. NLI is also interested in 100% of the issued share capital in two companies which in turn are interested in a total of 5.21% of the issued share capital of SEA. Thus, NLI is deemed to have a total shareholding interest of 64.28% in the issued share capital of SEA after the aforesaid events.

VI. JCS Limited ("JCS") has a direct interest of 63.58% in the issued share capital of NLI.

Immediately after the aforesaid events, the respective deemed interests in the Shares of the following directors of the Company as at 15 January 2016 be as follows:

1. Mr. Lu Wing Chi, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 360,658,798 Shares, representing approximately 40.69% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 1.96% direct shareholding interest in SEA;

(ii) 30% direct shareholding interest in NLI;

(iii) 49% direct shareholding interest in JCS; and

(iv) 100% direct shareholding interest in NYH.

2. Mr. Lincoln Lu, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 130,865,293 Shares, representing approximately 14.76% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 2.71% direct shareholding interest in SEA;

(ii) 3.21% direct shareholding interest in NLI; and

(iii) 25.5% direct shareholding interest in JCS.

3. Mr. Lambert Lu, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 130,951,421 Shares, representing approximately 14.77% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 2.72% direct shareholding interest in SEA;

(ii) 3.21% direct shareholding interest in NLI; and

(iii) 25.5% direct shareholding interest in JCS.

4. Mr. Lam Sing Tai, non-executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 4,074,578 Shares, representing approximately 0.46% of the existing issued share capital of the Company, through his 0.47% direct shareholding interest in SEA.

For more information, please contact:

Lu Wing Chi Tel: +852 2828 6363

Executive Director

Asian Growth Properties Limited

Richard Gray Tel: +44 207 886 2500

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)