PYI : Change of Company Secretary, Authorised Representative and Agent for Service of Process in Hong Kong

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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.

PYI Corporation Limited

(Incorporated in Bermuda with limited liability)

(Stock Code: 498)

CHANGE OF COMPANY SECRETARY, AUTHORISED REPRESENTATIVE AND‌ AGENT FOR SERVICE OF PROCESS IN HONG KONG

The Board announces that

1. Ms. Siu Tin Ho has tendered her resignation as the Company Secretary with effect from 19 February 2016 and simultaneously ceases to be (i) the Authorised Representative and (ii) the Service Agent;

2. Mr. Shing On Wai, currently the Group Legal Counsel of the Company, has been appointed as (i) the Company Secretary, (ii) the Authorised Representative, (iii) the Service Agent and (iv) a member of the Corporate Governance and Compliance Committee of the Company with effect from 19 February 2016; and

3. Mr. Wong Yiu Hung, currently the Chief Financial Officer of the Company, acts as the alternate Authorised Representative to Mr. Shing instead of Ms. Siu with effect from 19 February 2016.

The board of directors (the "Board") of PYI Corporation Limited (the "Company") announces that Ms. Siu Tin Ho ("Ms. Siu") has tendered her resignation as secretary of the Company (the "Company Secretary") with effect from 19 February 2016. Consequential upon her resignation as the Company Secretary, Ms. Siu ceases to be (i) an authorised representative of the Company under rule 3.05 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Authorised Representative") and (ii) an authorised representative of the Company for accepting service of process and notices on the Company's behalf in Hong Kong under Part 16 of the Companies Ordinance (Chapter 622 of the Laws of Hong Kong) (the "Service Agent").

Ms. Siu has confirmed to the Board that there is no matter relating to her resignation that needs to be brought to the attention of the shareholders of the Company and The Stock Exchange of Hong Kong Limited. Ms. Siu will continue to serve in the company secretarial department of the Company.

The Board is pleased to announce that Mr. Shing On Wai ("Mr. Shing"), currently the Group Legal Counsel of the Company, has been appointed as (i) the Company Secretary, (ii) the Authorised Representative, (iii) the Service Agent and (iv) a member of the Corporate Governance and Compliance Committee of the Company with effect from 19 February 2016.

Mr. Shing holds a degree of Bachelor of Laws from the University of Hong Kong and a degree of Master of Laws from King's College London, University of London. He was admitted as a solicitor of the High Court of Hong Kong in 2003. Mr. Shing is a member of the Law Society of Hong Kong.

Mr. Wong Yiu Hung, currently the Chief Financial Officer of the Company, acts as the alternate Authorised Representative to Mr. Shing instead of Ms. Siu with effect from 19 February 2016.

The Board would like to take this opportunity to welcome Mr. Shing on his new appointment and to express its appreciation for Ms. Siu's valuable contributions to the Company during her tenure as the Company Secretary.

On behalf of the Board PYI Corporation Limited Lau Tom Ko Yuen

Chairman and Managing Director

Hong Kong, 19 February 2016

As at the date of this announcement, the composition of the Board is as follows: Mr Lau Tom Ko Yuen : Chairman and Managing Director

Mr Chan Yiu Lun, Alan : Executive Director

Mr Chan Shu Kin : Independent Non-Executive Director

Ms Wong Lai Kin, Elsa : Independent Non-Executive Director

Mr Mok Yat Fan, Edmond : Independent Non-Executive Director