Expiry of Subscription Rights Attaching to the Warrants and Last Trading Day of the Warrants (Warrant Code: 1437)

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.

MIRAMAR HOTEL AND INVESTMENT COMPANY, LIMITED

美麗華酒店企業有限公司

(incorporated in Hong Kong with limited liability)

(Stock Code: 71)

(Warrant Code: 1437)

EXPIRY OF SUBSCRIPTION RIGHTS ATTACHING TO THE WARRANTS AND LAST TRADING DAY OF THE WARRANTS

(Warrant Code: 1437)

The subscription rights attaching to the Warrants will expire at 4:00 p.m. on Friday, 19 January 2018.

The last trading day of the Warrants on the Stock Exchange will be Tuesday, 16 January 2018. The latest time to exercise the subscription rights attaching to the Warrants will be 4:00 p.m. on Friday, 19 January 2018.

Application has been made to the Stock Exchange for the withdrawal of listing of the Warrants with effect from 4:00 p.m. on Friday, 19 January 2018.

This announcement is made by Miramar Hotel and Investment Company, Limited (the "Company") to remind holders of the existing outstanding warrants of the Company (warrant code: 1437) (the "Warrants") that in accordance with the terms and conditions of the instrument constituting the Warrants dated 20 July 2015 (the "Instrument"), the subscription rights attaching to the Warrants entitling the holder thereof (the "Warrantholders") to subscribe for one fully paid new share in the Company (the "Share") at an initial subscription price of HK$13.50 per new Share will expire at 4:00 p.m. on Friday, 19 January 2018. Any subscription rights attaching to the Warrants which have not been exercised by 4:00 p.m. on Friday, 19 January 2018 will lapse and the certificates of the Warrants will cease to be valid for any purpose.

The Company has made the following arrangements regarding dealings in, transfers of and exercise of the subscription rights attaching to the Warrants:

1. The last trading day of the Warrants on The Stock Exchange of Hong Kong Limited (the "Stock Exchange") will be Tuesday, 16 January 2018 and trading of the Warrants on the Stock Exchange will cease after 4:00 p.m. on Tuesday, 16 January 2018. The listing of the Warrants will be withdrawn from the Stock Exchange with effect from 4:00 p.m. on Friday, 19 January 2018, and application has been made to the Stock Exchange for such withdrawal.

2. Registered Warrantholders who wish to exercise the subscription rights attaching to the Warrants must lodge with the share registrar of the Company, Computershare Hong Kong Investor Services Limited, which also acts as the registrar maintaining the register of Warrantholders (the "Registrar"), at Shop Nos. 1712-1716, 17th Floor, Hopewell Centre, 183 Queen's Road East, Wanchai, Hong Kong, the following documents by not later than 4:00 p.m. on Friday, 19 January 2018:

1. ) the relevant certificate(s) of the Warrants;

2. the duly completed and signed subscription form(s); and

3. ) remittances for the relevant exercise moneys.

1. Warrantholders who have not registered their holdings in Warrants in their own names and wish to exercise in whole or in part any of the subscription rights attaching thereto must lodge with the Registrar at the above-mentioned address the following documents by not later than 4:00 p.m. on Friday, 19 January 2018:

2. the relevant duly executed and stamped instrument(s) of transfer and/or other document(s) of title;

3. the relevant certificate(s) of the Warrants;

4. ) the duly completed and signed subscription form(s); and

5. remittances for the relevant exercise moneys.

Subscription forms and the relevant accompanying documentation lodged with the Registrar later than 4:00 p.m. on Friday, 19 January 2018 will not be regarded as valid and will not be accepted.

Under the terms of the Instrument, new Shares will be allotted and issued not later than 28 days after the date of exercise of the subscription rights attaching to the Warrants. Shares to be issued pursuant to the exercise of the subscription rights attaching to the Warrants will, when issued, rank pari passu in all respects with the then existing issued Shares.

The closing prices of the Shares and the Warrants on the Stock Exchange on 28 November 2017 (being the date of this announcement) were HK$16.60 per Share and HK$3.10 per Warrant respectively.

A circular in relation to the expiry of the subscription rights attaching to the Warrants will be despatched to the Warrantholders and, for information only, the shareholders of the Company as soon as practicable.

Warrantholders who are in doubt as to their positions or as to the actions to be taken should consult their licensed securities dealers, bank managers, solicitors, professional accountants or other professional advisers.

By Order of the Board Chu Kwok Sun Corporate Secretary

Hong Kong, 28 November 2017

As at the date of this announcement, (i) the executive directors of the Company are: Mr. Lee Ka Shing, Mr. Richard Tang Yat Sun, Dr. Colin Lam Ko Yin, Mr. Norman Ho Hau Chong and Mr. Eddie Lau Yum Chuen;

(ii) the non-executive directors of the Company are: Dr. Lee Shau Kee, Dr. Patrick Fung Yuk Bun, Mr. Dominic Cheng Ka On and Mr. Alexander Au Siu Kee; (iii) the independent non-executive directors of the Company are: Dr. David Sin Wai Kin, Mr. Wu King Cheong, Dr. Timpson Chung Shui Ming, Mr. Howard Yeung Ping Leung and Mr. Thomas Liang Cheung Biu.