Melbourne Enterprises : PROFIT WARNING

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.

MELBOURNE ENTERPRISES LIMITED

萬邦投資有限公司

(Incorporated in Hong Kong with limited liability)

(Stock Code: 158)

PROFIT WARNING

This announcement is made by Melbourne Enterprises Limited (the "Company", and together with its subsidiaries, the "Group") pursuant to rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the inside information provisions under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

The board of directors of the Company (the "Board") wishes to inform the shareholders of the Company (the "Shareholders") and potential investors that based on the information currently available to the Board, the Group is expected to record a substantial loss for the year ended 30 September 2019, as compared with a profit of approximately HK$2,298.6 million attributable to shareholders for the year ended 30 September 2018. Such loss was mainly due to a fair value loss on investment properties of the Group as compared to a fair value gain on such properties for the year ended 30 September 2018, which fair value loss was attributable to the revaluation of the Group's investment properties as at 30 September 2019.

The information contained in this announcement is only a preliminary assessment by the Board based on information currently available to it and is not based on any figures or information that has been audited or reviewed by the Company's auditors and the actual results of the Group for the year ended 30 September 2019 may be different from those disclosed herein. Shareholders and potential investors are advised to refer to the Company's results announcement for the year ended 30 September 2019 which is expected to be published before the end of December 2019.

Shareholders and potential investors are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board

MELBOURNE ENTERPRISES LIMITED

萬邦投資有限公司

Chung Yin Shu, Frederick

Director

Hong Kong, 2 December 2019

1

As at the date of this announcement, the Board comprises (a) three executive directors, namely Mr. Chung Ming Fai, Mr. Chung Yin Shu, Frederick and Mr. Tsang On Yip, Patrick; (b) one non-executive director, namely Mr. Chung Wai Shu, Robert; and (c) three independent non- executive directors, namely Dr. Fong Yun Wah, Mr. Lo Pak Shiu and Mr. Yuen Sik Ming, Patrick.

2