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.

THE HONGKONG AND SHANGHAI HOTELS, LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00045)

Proposed Hotel Development in Yangon, Myanmar

This announcement is made pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong).

Reference is made to the announcements made by The Hongkong and Shanghai Hotels, Limited (the "Company") on 28 January 2014, 31 March 2015, 31 December 2015, 30 June

2016, 30 December 2016 and 13 January 2017 in respect of the Proposed Hotel Development (the "Announcements").

Unless otherwise defined, all terms used herein shall be as defined in the Announcements.

The Board of Directors of the Company is pleased to announce that with the issuance of the investment permit for the Proposed Hotel Development from the Myanmar Investment Commission, all conditions precedent under the Shareholders' Agreement have been satisfied. The Proposed Hotel Development has become unconditional and the former headquarters of Myanmar Railway Company will be redeveloped into a Peninsula hotel.

By order of the Board Christobelle Liao Company Secretary

Hong Kong, 16 February 2017

Non-Executive Chairman

The Hon. Sir Michael Kadoorie

Non-Executive Deputy Chairman

Non-Executive Directors

Andrew Clifford Winawer Brandler

Ronald James McAulay

William Elkin Mocatta

Executive Directors

Managing Director and Chief Executive Officer

Clement King Man Kwok

Chief Operating Officer

Peter Camille Borer

John Andrew Harry Leigh

Nicholas Timothy James Colfer

Independent Non-Executive Directors

Dr the Hon. Sir David Kwok Po Li

Patrick Blackwell Paul

Pierre Roger Boppe

Dr William Kwok Lun Fung

Chief Financial Officer

Matthew James Lawson

Dr Rosanna Yick Ming Wong

Dr Kim Lesley Winser

As at the date of this announcement, the Board of Directors of the Company comprises the following Directors:

The Hongkong and Shanghai Hotels Ltd. published this content on 16 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 16 February 2017 10:39:11 UTC.

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