Wharf Real Estate Investment : Notice of Listing on The Stock Exchange of Hong Kong Limited - U.S.$3,000,000,000 Medium Term Note Programme by Wharf REIC Finance (BVI) Limited

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.

This announcement is for information purposes only and does not constitute an invitation or offer to acquire, purchase or subscribe for securities.

This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or with any securities regulatory authority of any state of the United States or other jurisdiction. The securities are being offered and sold outside the United States in reliance on Regulation S under the Securities Act and may not be offered or sold within the United States absent registration or an exemption from registration under the Securities Act. No public offering of the securities will be made in the United States or in any other jurisdiction where such an offering is restricted or prohibited.

NOTICE OF LISTING ON

THE STOCK EXCHANGE OF HONG KONG LIMITED

Wharf REIC Finance (BVI) Limited

(Incorporated in the British Virgin Islands with limited liability)

(the "Issuer")

U.S.$3,000,000,000 Medium Term Note Programme (the "Programme")

guaranteed by

Wharf Real Estate Investment Company Limited

九龍倉置業地產投資有限公司

(Incorporated in the Cayman Islands with limited liability)

Stock Code: 1997 (the "Guarantor")

Arranger for the Programme

HSBC

Dealers

Bank of China (Hong Kong)	DBS Bank Ltd.	HSBC
Mizuho Securities		SMBC Nikko

Application has been made to The Stock Exchange of Hong Kong Limited for the listing of the Programme for a period of 12 months from 11 December 2019 by way of debt issues to professional investors (as defined in Chapter 37 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and in the Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong)) only, as described in the offering circular dated 11 December 2019. The listing of the Programme is expected to become effective on or about 12 December 2019.

11 December 2019

As at the date of this announcement, the directors of the Issuer are Mr. Stephen T. H. Ng, Mr. Paul Y. C. Tsui and Mr. Peter Z. K. Pao.

As at the date of this announcement, the directors of the Guarantor are Mr. Stephen T. H. Ng, Ms. Doreen Y. F. Lee, Mr. Paul Y. C. Tsui and Ms. Y. T. Leng, together with five Independent Non-executive Directors, namely Mr. Alexander S. K. Au, Hon. Andrew K. Y. Leung, Mr. Andrew J. Seaton, Mr. R. Gareth Williams and Professor E. K. Yeoh.