Director/PDMR Shareholding

17th January, 2011

ASIAN GROWTH PROPERTIES LIMITED

Disclosure of the 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 directors of the Company reporting their respective deemed interests in the ordinary shares of US$0.05 each in the Company (the "Shares"):

(1) S E A Holdings Limited ("SEA") is beneficially entitled to, in aggregate, about 97.17% of the existing issued share capital of the Company.

(2) On 13th January, 2011, Nan Luen International Limited ("NLI") has acquired additional shares of SEA (the "Acquisition"). Immediately before the Acquisition, NLI had diluted interest of 59.24% in the issued share capital of SEA as a result of the issue of new SEA shares by SEA to certain option holders who had exercised their subscription rights in late December 2010 and early January 2011. Immediately after the Acquisition, NLI has increased its shareholding interest in SEA to about 59.5%.

(3) JCS Limited ("JCS") is interested in 63.58% of the issued share capital of NLI which in turn is interested in 59.5% of the issued share capital of SEA.

(4) NYH Limited ("NYH") is interested in 25% of the issued share capital in each of the two companies which in turn are interested in a total of 1.243% of the issued share capital of SEA.

(5) Immediately after the Acquisition, Mr. Lu Wing Chi, an executive director of the Company, is deemed to have increased his indirect beneficial shareholding interest to 271,089,869 Shares, representing approximately 30.59% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 0.98% direct shareholding interest in SEA;

(ii) 30% direct shareholding interest in NLI;

(iii) 32.61% direct shareholding interest in JCS; and

(iv) 100% direct shareholding interest in NYH.

(6) Immediately after the Acquisition, Mr. Lambert Lu, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 69,612,267 Shares, representing approximately 7.85% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 1.24% direct shareholding interest in SEA;

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

(iii) 13.04% direct shareholding interest in JCS.

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)