Jinmao China Hotel Investments and Management : ANNOUNCEMENT COMPLETION OF ISSUE OF THE SUPER & SHORT-TERM COMMERCIAL PAPER

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Jinmao Hotel

金 茂 酒 店

(As constituted pursuant to a deed of trust on 13 June 2014 under the laws of Hong Kong,

the trustee of which is Jinmao (China) Investments Manager Limited)

and

Jinmao (China) Hotel Investments and Management Limited

金 茂（ 中 國 ）酒 店 投 資 管 理 有 限 公 司

(Registered in the Cayman Islands with limited liability)

(Stock Code: 06139)

ANNOUNCEMENT

COMPLETION OF ISSUE OF THE

SUPER & SHORT-TERM COMMERCIAL PAPER

This announcement is made by Jinmao (China) Investments Manager Limited (the "Trustee- Manager" , as trustee-manager of Jinmao Hotel) and Jinmao (China) Hotel Investments and Management Limited (the "Company" ) pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules" ) and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcement of Jinmao Hotel and the Company dated 14 February 2020, in relation to the proposed issue of the super & short-term commercial paper (the "SCP" ) by China Jin Mao (Group) Co., Ltd. ( "China Jin Mao (Group)" ), a wholly-owned subsidiary of the Company.

The boards of directors of the Trustee-Manager and the Company (the "Boards" ) are pleased to announce that China Jin Mao (Group) has completed the issue of the SCP in the national inter- bank market in the People' s Republic of China on 18 February 2020, of an amount of RMB0.8 billion and with a maturity period of 270 days and an interest rate of 2.9% per annum, which was underwritten by China Minsheng Banking Corp., Ltd. (中國民生銀行股份有限公司). The proceeds from the issue of the SCP will be used to supplement the working capital of China Jin Mao (Group).

By Order of the Boards

Jinmao (China) Investments Manager Limited

and

Jinmao (China) Hotel Investments and

Management Limited

LI Congrui

Chairman

Hong Kong, 18 February 2020

As at the date of this announcement, the directors of the Trustee-Manager and the Company are Mr. LI Congrui (Chairman), Mr. ZHANG Hui and Mr. JIANG Nan as non-executive directors; Mr. TANG Yong as executive director and Chief Executive Officer; and Dr. CHUNG Shui Ming Timpson, Dr. CHEN Jieping and Dr. XIN Tao as independent non-executive directors.