Director/PDMR Shareholding

22 January 2015

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") 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 20 January 2015.

II. On 20 January 2015, Nan Luen International Limited ("NLI") acquired additional SEA shares (the "Acquisition").

III. NLI has a direct shareholding interest of 59.83% of the issued share capital of SEA and is interested in 100% of the issued share capital in two companies which in turn are interested in a total of 5.13% of the issued share capital of SEA. Thus, NLI is deemed to have a total shareholding interest of 64.96% in the issued share capital of SEA after the Acquisition.

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

V. NYH Limited ("NYH") is interested in 25% of the issued share capital in each of two companies which in turn are interested in a total of 3.28% of the issued share capital of SEA.

Immediately after the Acquisition, the respective deemed interests in the Shares of the following directors of the Company as at 20 January 2015 are as follows:

(1) Mr. Lu Wing Chi, executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 364,397,610 Shares, representing approximately 41.11% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 1.76% 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 123,659,834 Shares, representing approximately 13.95% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 1.74% 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 125,813,031 Shares, representing approximately 14.19% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 1.99% direct shareholding interest in SEA;

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

(iii) 25.5% 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)