Century City International : JOINT ANNOUNCEMENT - DELAY IN DESPATCH OF CIRCULARS

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this joint announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this joint announcement.

(stock code: 355)

(stock code: 617)

JOINT ANNOUNCEMENT

DELAY IN DESPATCH OF CIRCULARS

Reference is made to (i) the joint announcement dated 2 January 2020 and issued by Century City International Holdings Limited ("Century City"), Paliburg Holdings Limited ("Paliburg"), Regal Hotels International Holdings Limited, RH International Finance Limited and Cosmopolitan International Holdings Limited ("Cosmopolitan") in relation to (a) the Shares Related Transactions; (b) the CIDL Related Transactions; and (c) the Hotel Related Transactions (collectively, the "Approved Transactions") (the "First Joint Announcement"); (ii) the joint announcement of Century City, Paliburg and Cosmopolitan dated 23 January 2020 in relation to the delay in despatch of circulars regarding the Approved Transactions (the "Delay Announcement"); and (iii) the joint announcement of Century City and Paliburg dated 24 January 2020 in relation to the AMTD III Share Swap (the "Second Joint Announcement"). Unless otherwise stated, terms used in this joint announcement have the same meanings as defined in the First Joint Announcement and the Second Joint Announcement.

Pursuant to Rule 14.41(a) of the Listing Rules, a circular of each of Century City and Paliburg containing, among other things, further information on the Approved Transactions (the "First Circular(s)") shall be despatched to their respective shareholders within 15 business days after publication of the First Joint Announcement. As set out in the Delay Announcement, each of Century City and Paliburg was granted a waiver from strict compliance with the requirement under Rule 14.41(a) of the Listing Rules to delay the despatch of the First Circulars to their respective shareholders to a date falling on or before 28 February 2020.

As disclosed in the Second Joint Announcement, a circular of each of Century City and Paliburg containing, among other things, further information on the AMTD III Share Swap (the "Second Circular(s)") was expected to be despatched by each of Century City and Paliburg to their respective shareholders on or before 18 February 2020.

As the majority of information required to be disclosed in the First Circular and the Second Circular is the same, in order to avoid duplication of resources, each of Century City and Paliburg will combine its respective First Circular and Second Circular and accordingly, issue a combined circular containing, among other things, information on the Approved Transactions and the AMTD III Share Swap in accordance with the relevant requirements under the Listing Rules (the "Combined Circular(s)").

1

As additional time is required for each of Century City and Paliburg to prepare relevant information, which includes, among other things, (i) the unaudited pro forma financial information; (ii) the indebtedness statement; (iii) the working capital sufficiency statement, (iv) the valuation report on the Hotel and (v) financial information of AMTD, for inclusion in the Combined Circulars, each of Century City and Paliburg has applied to the Stock Exchange for a waiver from strict compliance with the requirement under Rule 14.41(a) of the Listing Rules to extend the date of despatch of the Combined Circulars to a date falling on or before 31 March 2020.

By order of the board of directors of	By order of the board of directors of
Century City International Holdings Limited	Paliburg Holdings Limited
Eliza Lam Sau Fun	Eliza Lam Sau Fun
Secretary	Secretary

Hong Kong, 18 February 2020

As at the date of this joint announcement, the Century City Board comprises the following members:

Executive directors:	Independent non-executive directors:
Mr. LO Yuk Sui	Mr. Anthony CHUANG
(Chairman and Chief Executive Officer)	Ms. Winnie NG, JP
Mr. Jimmy LO Chun To (Vice Chairman)	Mr. WONG Chi Keung
Miss LO Po Man (Vice Chairman)
Mr. Kenneth NG Kwai Kai
(Chief Operating Officer)
Mr. Donald FAN Tung
Mr. Kelvin LEUNG So Po

As at the date of this joint announcement, the Paliburg Board comprises the following members:

Executive directors:	Independent non-executive directors:
Mr. LO Yuk Sui	Mr. Bowen Joseph LEUNG Po Wing, GBS, JP
(Chairman and Chief Executive Officer)	Ms. Winnie NG, JP
Mr. Jimmy LO Chun To	Hon Abraham SHEK Lai Him, GBS, JP
(Vice Chairman and Managing Director)	Mr. WONG Chi Keung
Mr. Donald FAN Tung
(Chief Operating Officer)
Miss LO Po Man
Mr. Kenneth NG Kwai Kai
Mr. Kenneth WONG Po Man

2