Director/PDMR Shareholding

20 December 2012

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 about 97.17% of the existing issued share capital of the Company.

(2) JCS Limited ("JCS") is interested in 63.58% of the issued share capital of Nan Luen International Limited ("NLI") which in turn is interested in 61.02% of the issued share capital of SEA.

(3) 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 1.235% of the issued share capital of SEA.

(4) On 12 July 2012, awarded shares of SEA were granted to Messrs. Lu Wing Chi and Lambert Lu, executive directors of the Company, pursuant to the share award scheme of SEA and the said awarded shares were transferred to them on 19 December 2012 (the "Event").

(5) Immediately after the Event, Mr. Lu Wing Chi has increased his direct shareholding interest in SEA from 0.98% to 1.48% and thus he is deemed to have an indirect beneficial shareholding interest in 282,036,958 Shares, representing approximately 31.82% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 1.48% 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 Event, Mr. Lambert Lu has increased his direct shareholding interest in SEA from ~0% to 0.5% and thus he is deemed to have an indirect beneficial shareholding interest in 64,749,222 Shares, representing approximately 7.31% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 0.5% 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: +44 207 886 2500

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)