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.

FPC TREASURY LIMITED

(Incorporated with limited liability under the laws of the British Virgin Islands)

(Stock Code: 05924)

第一太平有限公司

(Incorporated with limited liability under the laws of Bermuda)

Website: http://www.firstpacific.com

(Stock Code: 00142)

Partial repurchase and cancellation of US$400,000,000 4.5% Guaranteed Bonds due 2023

Reference is made to the announcement dated 16 April 2013 in relation to the issue of US$400,000,000 (approximately HK$3,120 million) in the principal amount of 4.5% Guaranteed Bonds due 2023 (the "Bonds") by FPC Treasury Limited (the "Issuer") and irrevocably and unconditionally guaranteed by First Pacific Company Limited (the "Company"), and the listing of the Bonds on The Stock Exchange of Hong Kong Limited (the "Announcement"). As at 19 June 2017, there were US$367,305,000 (approximately HK$2,865 million) in aggregate principal amount of Bonds outstanding.

The Company and the Issuer hereby announce that on 20 June 2017, the Company completed the repurchase of US$8,130,000 (approximately HK$63.4 million) in aggregate principal amount of Bonds (the "Repurchased Bonds"), representing approximately 2.0% and, together with other Bonds previously repurchased, approximately 10.2% of the aggregate principal amount of Bonds originally issued.

The Repurchased Bonds are expected to be cancelled as soon as practicable. After cancellation of the Repurchased Bonds, US$359,175,000 (approximately HK$2,802 million) in aggregate principal amount of Bonds will remain outstanding.

Pursuant to Rule 37.48(a) of the Listing Rules, the Company and the Issuer will make further announcements for every subsequent 5% interval of initial aggregate principal amount of Bonds redeemed and/or cancelled in accordance with their terms and conditions.

The Company and/or the Issuer may or may not repurchase further Bonds in the future. Holders of the Bonds (the "Bondholders") and potential investors should note that any repurchase of Bonds from time to time by the Company and/or the Issuer will be at the Company's and/or the Issuer's sole and absolute discretion. There is no assurance of the timing, amount or price of any repurchase of the Bonds or whether the Company and/or the Issuer will make any further repurchase at all. Bondholders and potential investors should therefore exercise caution when dealing in any Bonds.

By Order of the Board

First Pacific Company Limited Manuel V. Pangilinan

Managing Director and CEO

Hong Kong, 21 June 2017

Unless stated otherwise, translations of quoted currency values are made on an approximate basis and at the rate of US$1.00 = HK$7.8. Percentages and figures expressed have been rounded.

As at the date of this announcement, the directors of FPC Treasury Limited are Manuel

V. Pangilinan, Edward A. Tortorici, Robert C. Nicholson, Christopher H. Young and Joseph H.P. Ng.

As at the date of this announcement, the board of directors of the Company comprises the following directors:

Executive Directors:

Manuel V. Pangilinan, Managing Director and CEO

Edward A. Tortorici Robert C. Nicholson

Non-executive Directors: Anthoni Salim, Chairman Benny S. Santoso

Tedy Djuhar

Ambassador Albert F. del Rosario

Independent Non-executive Directors: Prof. Edward K.Y. Chen, GBS, CBE, JP Margaret Leung Ko May Yee, SBS, JP

Philip Fan Yan Hok

Madeleine Lee Suh Shin

First Pacific Company Limited published this content on 21 June 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 20 June 2017 22:35:10 UTC.

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