Tai Sang Land Development : APPOINTMENT OF DEPUTY CHAIRMAN

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(Incorporated in Hong Kong with limited liability)

(Stock Code: 89)

APPOINTMENT OF DEPUTY CHAIRMAN

The board of directors (the "Board") of Tai Sang Land Development Limited (the "Company") announces that Mr. Philip Ma Ching Yeung ("Mr. Ma"), currently an Executive Director of the Company, has been appointed as Deputy Chairman of the Company with effect from 11th December 2019.

Mr. Ma, aged 56, joined the Company in 1987 and appointed a Director of the Company in 1997. He is a director of certain subsidiaries of the Company. He received a doctoral degree in management from Asian College of Knowledge Management in 2010. He is currently a director and a shareholder of Kam Chan & Company, Limited which is a controlling shareholder of the Company, and a director of Tai Sang Bank Limited. He is the vice chairman of the 2017/2018, 2018/2019 and 2019/2020 Board of Directors of Tung Wah Group of Hospitals, a director of Hong Kong Chiu Chow Chamber of Commerce, a permanent honorable president of Wanchai and Central & Western District Industries and Commerce Association, a member of World Fellow of The Duke of Edinburgh's Award, a member of The Entrepreneurs' Organization Hong Kong, a member of the HKGCC's Real Estate and Infrastructure Committee, an ordinary member of The University of Hong Kong Foundation and a member of Maritime Silk Road Society.

Save as disclosed above, Mr. Ma does not hold any other directorships in other Hong Kong or overseas listed public companies in the last three years, or any other position with the Company or other members of the Company's group.

Mr. Ma is the younger brother of Mr. William Ma Ching Wai, Mr. Patrick Ma Ching Hang, Mr. Alfred Ma Ching Kuen, Ms. Amy Ma Ching Sau, Ms. Katy Ma Ching Man and Ms. Ruth Ma Ching Keung. Save as disclosed above, Mr. Ma is not connected with any directors, senior management or substantial or controlling shareholders of the Company.

As at the date of this announcement, Mr. Ma has interest in 127,741 shares of the Company within the meaning of Part XV of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

There is no service contract between the Company and Mr. Ma. He has no fixed term of service with the Company and will be subject to retirement by rotation and re-election at the Company's annual general meetings in accordance with Article 103(A) of the Company's articles of association. There is no agreement on the amount of the remuneration payable to

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Mr. Ma. The director's fee payable to Mr. Ma is determined by shareholders of the Company in annual general meeting. Mr. Ma is entitled to an annual director's fee of HK$22,000 for the year ending 31st December 2019 which was determined by shareholders in the annual general meeting of the Company held on 24th May 2019. For the year ended 31st December 2018, Mr. Ma received director's fee of HK$20,000 which was determined by shareholders in the annual general meeting of the Company held on 28th May 2018 and other remuneration of HK$5,898,000 which was determined by reference to his duties and responsibilities with the Company's group, his performance and operating results of the Company.

Save as disclosed above, there are no other matters relating to the appointment of Mr. Ma as a Deputy Chairman that need to be brought to the attention of the shareholders of the Company and there is no other information which is required to be disclosed pursuant to rule 13.51(2)(h) to rule 13.51(2)(v) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

By Order of the Board

Tai Sang Land Development Limited

Katy Ma Ching Man

Company Secretary

Hong Kong, 11th December 2019

As at the date of this announcement, the Board comprises nine directors, of which Mr. William Ma Ching Wai, Mr. Patrick Ma Ching Hang, Mr. Philip Ma Ching Yeung, Mr. Alfred Ma Ching Kuen and Ms. Amy Ma Ching Sau are executive Directors; Mr. Edward Cheung Wing Yui is a non-executive Director; and Mr. Kevin Chau Kwok Fun, Mr. Tan Soo Kiu and Mr. Yiu Kei Chung are independent non-executive Directors.

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