Update on Annual Report

Asian Citrus Holdings Limited

("Asian Citrus" or the "Company")

Announcement

Reference is made to the Company's most recent update announcement dated 8 December 2016 (the "Announcement") in connection with the delay in publication of its annual results and annual report. Unless otherwise defined herein, capitalised terms used herein shall have the same meanings as those defined in the Announcement.

The Board would like to update shareholders of the Company that it has completed its site visits with its PRC lawyers to the offices of the Company's subsidiaries in the PRC as referred to in the Announcement, and as at the date of this announcement, the Board has not yet received any of the requested information referred to in the Company's announcement dated 29 September 2016 for the purpose of allowing the auditors to complete its additional audit procedures. The Board has been informed that Mr. DQ Chen will discuss with his superiors in relation to providing the assistance requested by the Company.

The Board is taking legal advice from its PRC legal advisers in connection with further steps to be taken in connection with the above.

Trading in the shares of the Company on the Hong Kong Stock Exchange will remain suspended pending the release of the Group's annual results. Trading in the shares of the Company on AIM will also remain suspended pending an announcement clarifying the financial impact pertaining to the allegations, if any.

This announcement contains inside information for the purpose of Article 7 of Regulation (EU) No 596/2014.

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