Director/PDMR Shareholding

22 December 2015

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 executive and non-executive 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 21 December 2015.

II. Mr. David Andrew Runciman (executive director of the Company) and Mr. Lam Sing Tai (non-executive director of the Company), exercised their subscription rights to subscribe for 200,000 and 2,230,000 SEA shares on 14 December 2015 and 16 December 2015, respectively.

III. NYH Limited ("NYH") is a company 100% owned by Mr. Lu Wing Chi (executive director of the Company). On 15 December 2015, the company in which NYH has 25% shareholding disposed of its entire 2,070,000 shares in SEA (representing 0.304% of the issued share capital of SEA). Immediately after this event, NYH is only directly interested in 0.303% interest in SEA. Mr. Lu Wing Chi is deemed to be interested in 0.303% interest in SEA by virtue of his 100% interest in NYH.

IV. Nan Luen International Limited ("NLI") has a direct shareholding interest of 58.77% of the issued share capital of SEA and 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 63.98% in the issued share capital of SEA.

V. 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 21 December 2015 are as follows:

(1) Mr. Lu Wing Chi, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 353,689,330 Shares, representing approximately 39.90% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 1.64% 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 130,358,861 Shares, representing approximately 14.71% 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 129,842,094 Shares, representing approximately 14.65% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 2.65% direct shareholding interest in SEA;

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

(iii) 25.5% direct shareholding interest in JCS.

(4) Mr. David Andrew Runciman, executive director of the Company, is deemed to have beneficial shareholding interest in 773,016 Shares, representing approximately 0.09% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 0.03% direct shareholding interest in SEA; and

(ii) 0.06% direct beneficial shareholding interest in the Company.

(5) Mr. Lam Sing Tai, non-executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 8,045,603 Shares, representing approximately 0.91% of the existing issued share capital of the Company, through his 0.93% 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)