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.

萬 達 酒 店 發 展 有 限 公 司 WANDA HOTEL DEVELOPMENT COMPANY LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 169) UPDATE ON THE MAJOR TRANSACTION - DISPOSAL OF MADRID PROPERTY PROJECT

Reference is made to the circular (the "Circular") of Wanda Hotel Development Company Limited (the "Company") dated 16 December 2016 with respect to, among others, the major transaction of the Company regarding the sale of all the issued shares in Wanda Madrid Development, S.L.U. by the Group to Baraka Global Invest, S.L.U.. Unless the context requires otherwise, capitalized terms used herein shall bear the same meanings as defined in the Circular.

Pursuant to the Agreement and as disclosed in the Circular, an amount of €14 million (equivalent to approximately HK$115.6 million) shall be paid by the Purchaser as further deposit ("Further Deposit") to Wanda Europe on 28 December 2016 and shall be applied as part of the Consideration upon Completion. As at 28 December 2016, the Purchaser has not paid the Further Deposit. The Company is considering whether to discuss and negotiate with the Purchaser an extension of the payment schedule for the Further Deposit or to terminate the Agreement and retain the deposits received as liquidated charges.

The Company will make further announcement as and when appropriate in accordance with the requirements of the Listing Rules.

By order of the Board

Wanda Hotel Development Company Limited Hui Wai Man, Shirley

Company Secretary

Hong Kong, 28 December 2016

As at the date of this announcement, Mr. Ding Benxi (Chairman), Mr. Qi Jie and Mr. Qu Dejun are the non-executive Directors; Mr. Liu Chaohui is the executive Director; and Mr. Liu Jipeng, Dr. Xue Yunkui and Mr. Zhang Huaqiao are the independent non-executive Directors.

Wanda Hotel Development Co. Ltd. published this content on 29 December 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 December 2016 22:22:05 UTC.

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