Lippo China Resources : COMPLETION OF THE DISPOSAL AGREEMENT

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.

LIPPO LIMITED	LIPPO CHINA RESOURCES LIMITED
力寶有限公司	力寶華潤有限公司
(Incorporated in Hong Kong	(Incorporated in Hong Kong
with limited liability)	with limited liability)
(Stock Code: 226)	(Stock Code: 156)

JOINT ANNOUNCEMENT

MAJOR TRANSACTION

DISPOSAL OF SUBSIDIARIES

COMPLETION OF THE DISPOSAL AGREEMENT

Reference is made to the joint announcement of Lippo and LCR dated 30 August 2019 and the respective circulars of Lippo and LCR dated 14 October 2019 (the "Circulars") in relation to the Disposal. Capitalised terms used herein shall have the same meanings as those defined in the Circulars, unless the context requires otherwise.

The respective Boards of Lippo and LCR are pleased to announce that all the Conditions Precedent under the Disposal Agreement have been fulfilled and Completion took place on 31 October 2019. Following Completion, the Lippo Group and the LCR Group ceased to hold any interest in the FJM Group and accordingly, the results, assets and liabilities of the FJM Group will cease to be consolidated into the accounts of Lippo and LCR respectively.

By Order of the Board	By Order of the Board
LIPPO LIMITED	LIPPO CHINA RESOURCES LIMITED
John Luen Wai Lee	John Luen Wai Lee
Managing Director and	Chief Executive Officer
Chief Executive Officer
Hong Kong, 31 October 2019

1

As at the date of this announcement, the board composition of each of Lippo and LCR is as follows:

Lippo	LCR
Executive Directors:	Executive Directors:
Dr. Stephen Riady (Chairman)	Dr. Stephen Riady (Chairman)
Mr. John Luen Wai Lee	Mr. John Luen Wai Lee
(Managing Director and	(Chief Executive Officer)
Chief Executive Officer)	Mr. James Siu Lung Lee
Non-executive Directors:	Non-executive Director:
Mr. Jark Pui Lee	Mr. Leon Nim Leung Chan
Mr. Leon Nim Leung Chan
Independent Non-executive Directors:	Independent Non-executive Directors:
Mr. Edwin Neo	Mr. Edwin Neo
Mr. King Fai Tsui	Mr. King Fai Tsui
Mr. Victor Ha Kuk Yung	Mr. Victor Ha Kuk Yung

2