Parkson Retail : Change in Directors or of Important Executive Functions or Responsibilities / Change of Audit Committee Member

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.

PARKSON RETAIL GROUP LIMITED

百盛商業集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 3368) Resignation of Non-executive Director and Member of Audit Committee

The Board announces that Datuk Lee Kok Leong has resigned as a non-executive director and member of Audit Committee of the Company with effect from 4 August 2016.

The board of directors (the "Board") of Parkson Retail Group Limited (the "Company") announces that Datuk Lee Kok Leong ("Datuk Lee") has resigned as a non-executive director and member of Audit Committee of the Company with effect from 4 August 2016 due to his desire to concentrate on his personal career development.

Datuk Lee has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its gratitude to Datuk Lee for his valuable efforts and contributions to the Company during his tenure of office.

By Order of the Board

PARKSON RETAIL GROUP LIMITED

Tan Sri Cheng Heng Jem

Executive Director & Chairman

5 August 2016

As at the date of this announcement, the Executive Directors of the Company are Tan Sri Cheng Heng Jem, Mr. Chong Sui Hiong and Ms. Juliana Cheng San San, the Non-executive Director is Dato' Dr. Hou Kok Chung and the Independent Non-executive Directors are Dato' Fu Ah Kiow, Mr. Ko Tak Fai, Desmond and Mr. Yau Ming Kim, Robert.

1