PYI : Update on Discloseable Transaction – Resumption of Certain Properties of Hubei Minsheng

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PYI Corporation Limited

(Incorporated in Bermuda with limited liability)

(Stock Code: 498)

UPDATE ON DISCLOSEABLE TRANSACTION RESUMPTION OF CERTAIN PROPERTIES OF HUBEI MINSHENG

Reference is made to the announcement of PYI Corporation Limited (the "Company") dated 25 June 2018 (the "Previous Announcement") in relation to the resumption of certain properties of an indirect wholly owned subsidiary of the Company, 湖北民生石 油液化氣有限公司 (Hubei Minsheng Liquefied Petroleum Gas Limited*) ("Hubei Minsheng"). Unless otherwise defined herein, capitalized terms defined in the Previous Announcement shall have the same meaning when used in this announcement.

The Board is pleased to announce that conditions precedent in respect of the Resumption have been fulfilled and Hubei Minsheng has received the Initial Compensation in the sum of RMB60.7 million (approximately HK$71.4 million) pursuant to the Land Resumption Compensation Agreement on 9 July 2018.

* English transliteration for identification purpose only.

For the purpose of this announcement, unless otherwise stated, the conversion of RMB into HK$ is based on the exchange rate of HK$1.00 to RMB0.85. The exchange rate has been used, where applicable, for the purposes of illustration only and does not constitute a representation that any amounts were or may have been exchanged at this or any other rate at all.

By Order of the Board PYI Corporation Limited

Lau Tom Ko Yuen Chairman and Managing Director

Hong Kong, 11 July 2018

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. Sue Ka Lok	: Executive Director
Ms. Wu Yan Yee	: Executive Director
Mr. Chan Shu Kin	: Independent Non-Executive Director
Ms. Wong Lai Kin, Elsa	: Independent Non-Executive Director
Mr. Leung Chung Ki	: Independent Non-Executive Director