Central Development : CHANGE OF VENUE AND PRECAUTIONARY MEASURES FOR THE ANNUAL GENERAL MEETING TO BE HELD ON 3 SEPTEMBER 2020

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.

CENTRAL DEVELOPMENT HOLDINGS LIMITED

中發展控股有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 475)

CHANGE OF VENUE AND PRECAUTIONARY MEASURES

FOR THE ANNUAL GENERAL MEETING

TO BE HELD ON 3 SEPTEMBER 2020

References are made to the circular (the "Circular") and notice (the "Notice") of the annual general meeting ("AGM") of Central Development Holdings Limited (the "Company") both dated 20 July 2020 and the form of proxy (the "Proxy Form"), regarding the AGM of the Company to be held at Function Room Unicorn and Phoenix, Basement Two, The Charterhouse Causeway Bay Hong Kong, 209-219 Wanchai Road, Wanchai, Hong Kong on Thursday, 3 September 2020 at 10:00 a.m. Unless otherwise stated, capitalised terms used herein shall have the same meanings as those defined in the Circular and the Notice.

Due to an ad hoc renovation taking place at the intended venue of the AGM as set out in the Notice, the board of directors (the "Board") of the Company announces that the venue of the AGM will be changed to 24/F., OfficePlus @Wan Chai, 303 Hennessy Road, Wanchai, Hong Kong.

To facilitate the ongoing prevention and control of the epidemic caused by novel coronavirus pneumonia ("COVID-19") and to safeguard the health and safety of the shareholders of the Company (the "Shareholders") and persons helping with the AGM, certain measures will be implemented at the AGM with a view to addressing the risk to attendees of infection, including, without limitation, (i) all attendees being required to (a) undergo compulsory body temperature check; and (b) wear surgical masks prior to admission to the AGM venue;

1. attendees who are subject to health quarantine prescribed by the HKSAR Government not being admitted to the AGM venue; (iii) all attendees being required to wear surgical masks throughout the AGM; (iv) no refreshment packs, coffee or tea being provided; and

1. no distribution of corporate gift. The Company reminds attendees that they should carefully consider the risks of attending the AGM, taking into account their own personal circumstances.

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Furthermore, the Company would like to remind Shareholders that physical attendance in person at the AGM is not necessary for the purpose of exercising their voting rights and strongly recommends that Shareholders appoint the chairman of the AGM as their proxy and submit their Proxy Form as early as possible. The Proxy Form can be downloaded from the website of the Company at www.475hk.com or the Stock Exchange at www.hkexnews.hk. In order to be valid, the Proxy Form must be deposited at the office of the Company's branch Share Registrar, Tricor Investor Services Limited at Level 54, Hopewell Centre, 183 Queen's Road East, Hong Kong not less than 48 hours before the time appointed for the holding of the AGM or any adjourned meeting.

Subject to the development of the COVID-19 situation, the Company may implement further precautionary measures in respect of the AGM, and may issue further announcement(s) on such measures as and when appropriate. Shareholders are advised to check the Company's website for further announcements and updates on the meeting arrangements that may be issued.

Save for the change of the venue of the AGM, all information and contents set out in the Notice of AGM, the Circular and the Proxy Form, including, among others, the date and the time of the AGM, the book closure period for the register of members and the resolutions to be considered at the AGM, remain unchanged. The Proxy Form issued together with the Notice of AGM remains valid and the Shareholders are not required to re-submit the Proxy Form if they have already done so.

Shareholders who intend to attend the AGM are advised to pay attention to the abovementioned change of venue.

By order of the Board

Central Development Holdings Limited

Chow Chi Shing

Company Secretary

Hong Kong, 11 August 2020

As at the date of this announcement, the Board consists of three executive Directors, namely Mr. Wu Hao, Mr. Hu Yangjun and Mr. Chan Wing Yuen, Hubert; a non-executive Director, namely Mr. Li Wei Qi, Jacky; and three independent non-executive Directors, namely Mr. Wu Chi Keung, Mr. Jin Qingjun and Ms. Sun, Ivy Connie.

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