Allied Properties H K : Completion of Discloseable and Connected Transaction in relation to the Disposal of a Subsidiary

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this 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 announcement.

ALLIED PROPERTIES (H.K.) LIMITED

（聯合地產（香港）有限公司）

(Incorporated in Hong Kong with limited liability)

(Stock Code: 56)

COMPLETION OF DISCLOSEABLE AND

CONNECTED TRANSACTION IN RELATION TO

THE DISPOSAL OF A SUBSIDIARY

Reference is made to the circular of the Company dated 20th November, 2019 (the "Circular") in relation to the Disposal. Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as those defined in the Circular.

The Board is pleased to announce that all applicable conditions precedent of the Sale and Purchase Agreement have been satisfied and Completion took place on 17th December, 2019.

Upon Completion, members of the Target Group ceased to be subsidiaries of the Company.

On behalf of the Board

Allied Properties (H.K.) Limited

Mark Wong Tai Chun

Executive Director

Hong Kong, 17th December, 2019

As at the date of this announcement, the Board comprises Messrs. Lee Seng Hui (Chief Executive) and Mark Wong Tai Chun being the Executive Directors; Messrs. Arthur George Dew (Chairman) and Li Chi Kong being the Non-Executive Directors; and Messrs. Steven Samuel Zoellner, Alan Stephen Jones and David Craig Bartlett being the Independent Non-Executive Directors.