News Release PYI Announces FY2014 Interim Results

Financial Highlights of Interim Results (For the six months ended 30 September)

2013 (unaudited)

2012
(unaudited) Change
Turnover - PYI and its subsidiaries HK$720m HK$3,703m -81%
- Share of associates and joint ventures HK$1,972m HK$589m +235% HK$2,692m HK$4,292m -37%
Gross profit HK$93m HK$190m -51% Profit attributable to shareholders HK$69m HK$81m -15% Earnings per share HK1.5¢ HK1.8¢ -17% Interim cash dividend per share HK0.5¢ HK1¢ -50%

30/9/2013 31/3/2013

Net asset value per share HK$1.07 HK$1.06 +1%

(24 November 2013, Hong Kong) - Bulk cargo port and infrastructure group PYI Corporation Limited ("PYI" or the "Group", 0498.HK) announced its interim results for the six months ended 30 September 2013, with profit attributable to shareholders of HK$69 million. The Board declared an interim cash dividend of HK0.5¢/share.

Mr. Tom Lau, Chairman and Managing Director of PYI, said, "The Board declared a 0.5 cent interim cash dividend on the back of half-year profit of $69 million. During the 6 months' period, Nantong Port recorded improved results on little throughput growth. Contributions from Yichang Port declined due to lower coal and mineral bulk shipment. Jiangyin Sunan managed to achieve stable performance which was attributable to the growth in its container throughput. Jiaxing Feeder Port operated smoothly in the trial run stage and will start commercial operation in the first quarter of 2014. Although a slight operating profit was maintained by its LPG retail and distribution business, Minsheng Gas recorded another period of loss-making and the Group will take loss preventive measures in due course. Paul Y. Engineering contributed with growth. Our property division performed steadily and recorded a considerable revaluation gain on land development at Xiao Yangkou." Mr. Lau concluded, "Despite the global economic and financial uncertainties and the slow GDP growth of China, PYI remains positive on the outlook of its port business in the Yangtze River region and will stay in line with China's national policy and development directions on implementation of our Yangtze Strategy. PYI will take a cautious and prudent approach in responding to the challenges ahead and strive to maintain long term business growth and generate sustainable returns to our shareholders."

For the official announcement of PYI FY2014 interim results, please click here.

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Notes to editors:

PYI Corporation Limited (0498.HK)

Based in Hong Kong, PYI Corporation Limited focuses on ports and infrastructure development and investment, and the operation of ports and logistics facilities, in the
Yangtze River region of China. It also engages in land and property development and
investment in association with ports and infrastructure development. In addition, PYI provides comprehensive engineering and property-related services through Paul Y. Engineering. For more information, please visit www.pyicorp.com.

Nantong Port Group (45% owned)

Nantong Port is a major river port in the Yangtze Delta, one of China's category-one national ports open to foreign trade and an important hub port of the country. It owns a shoreline of
4.2 km, a land mass of 1.5 sq km and 5 major terminals with 24 berths. Nantong Port Group recorded the annual cargo throughput about 58 million tonnes and container throughput of
473,000 TEUs in 2012. The main cargoes handled by Nantong Port Group are iron ore, minerals, cement, steel, coal, fertilizers, grains and edible oil. Nantong Port provides easy
access to the Yangtze region by road and waterway and is an ideal hub port for cargo trans- shipment in the Yangtze Delta Region. For more information, please visit www.ntport.com.cn.

Yichang Port Group (51% owned)

Yichang Port Group is principally engaged in transport logistics and minor properties investments, providing transportation, cargo loading and discharging, storage, shipping agent, cargo agent, port logistics and port equipment rental services and commodity trading in Yichang Port. Yichang Port consists of 51 berths with total annual throughput capacity of 13 million tonnes and container throughput capacity of 60,000 TEUs. Located near the Three Gorges Dam in Yichang, Hubei Province, Yichang Port is among the eight largest ports along
the Yangtze River. For more information, please visit www.ycp.com.cn.

Jiangyin Sunan Container Terminal (40% owned)

Jiangyin Sunan Container Terminal operates the container terminal in Jiangyin Port which is the only container terminal in Jiangyin with annual throughput capacity reaches 550,000
TEUs. The terminal occupies a land area of 0.49 sq km, a shoreline of 589 m long with 3
berths of 50,000 tonnes maximum capacity and a secondary shoreline of 1,090 m long with 8 berths for barges of 5,000 tonnes capacity each. Business scope of Jiangyin Sunan includes containers loading and unloading, storage, maintenance, washing and leasing of containers. For more information, please visit www.jysct.com.cn.

Jiaxing International Feeder Port (90% owned)

Jiaxing International Feeder Port multi-functional zone is a core pilot feeder port in Zhejiang province under the plans of Ministry of Transport. Located at Nanhu district of Jiaxing, the feeder port owns a shoreline of 570 m and a land mass of 326,000 sq m. Currently, the port has 10 berths with total annual throughput capacity of 200,000 TEUs. A customs office is
situated in port area for efficient consignment, declaration and clearance at one stop. The
port also features a range of integrated logistics supporting services such as examination, quarantine, storage and information services. For more information, please visit www.yfp-jx.com.

Minsheng Gas (100% owned)

Based in Wuhan, Minsheng Gas owns and operates the largest liquefied petroleum gas (LPG) river terminal and storage tank farm in mid-stream Yangtze. Through its mature wholesale and distribution network, Minsheng Gas has captured a substantial share of the
Wuhan LPG market for automotive consumption. Minsheng Gas established a Vehicle
Conversion Research and Development Center to support the application of its research and development on the construction of LPG fueling stations, conversion of motor vehicles to LPG vehicles and gas fueling. It has successfully obtained qualification for natural gas operation in March 2013 and the transformation of three LPG fueling stations into natural gas fueling stations will be carried out during the financial year ending 31 March 2014. For more information, please visit www.hbmsgas.com.

Yangkou Port (9.9% owned)

Yangkou Port is a natural deep-sea harbour on Jiangsu's eastern coast that has declared soft open in October 2008. The port comprises mainly a harbour-front industrial and logistics
park of 30 sq km, the 12.6 km Yellow Sea Crossing and a 1.4 sq km man-made island
connected to 29 berths in the deep draft port district. Strategically located near the mouth of the Yangtze River, Yangkou Port is ideally situated to become one of China's largest trans- shipment hubs for dry and liquid bulk cargoes. For more information, please visit www.yangkouport.com.

Paul Y. Engineering (47.5% owned)

Paul Y. Engineering is an international engineering and property services group, with three core business functions: management contracting, property development management and property investment in Hong Kong, Macau and the Mainland China. Paul Y. Engineering serves a wide spectrum of distinguished clients, including the government and major
enterprises. For over 60 years, Paul Y. Engineering has played a significant role in shaping
Hong Kong's skyline and its world-class infrastructure. For more information, please visit www.pyengineering.com.

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