Hongkong and Shanghai Hotels : Discloseable Transaction - Proposed Hotel Development in Istanbul, Turkey Extension of Long Stop Date

Announcement

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)

Discloseable Transaction Proposed Hotel Development in Istanbul, Turkey Extension of Long Stop Date

Reference is made to the announcements made by The Hongkong and Shanghai Hotels, Limited ("HSH") on 7 July 2015 and 23 December 2015 (the "Announcements") in respect of the development of certain buildings at Salıpazarı, Istanbul into a luxury hotel (the "Proposed Hotel Development") and the extension of long stop date to 30 June 2016 respectively.

As stated in the Announcements, a shareholders' agreement (the "Shareholders' Agreement") was entered into by HSH and its indirect wholly-owned subsidiary, Peninsula Istanbul Holdings AG, Salıpazarı Liman İşletmeciliği ve Yatırımları A.Ş., Doğuş Holding A.Ş. and BLG Gayrimenkul Yatırımları ve Ticaret A.Ş., for the Proposed Hotel Development. Under the Shareholders' Agreement, certain conditions must be met or waived on or before the long stop date (the "Long Stop Date") before the parties will proceed with the Proposed Hotel Development. The Long Stop Date, which may be extended by the parties in writing, was 31 December 2015 and was subsequently extended to 30 June 2016.

The Board of Directors of HSH now wishes to inform shareholders that the parties to the Shareholders' Agreement have agreed to further extend the Long Stop Date from 30 June 2016 to 31 August 2016, and the parties will continue to work together to satisfy the two remaining administrative conditions in the Shareholders' Agreement.

Shareholders and potential investors of HSH should note that the Proposed Hotel Development may or may not proceed. Shareholders and potential investors of HSH should exercise caution when dealing in the securities of HSH. Further announcements in relation to the Proposed Hotel Development will be made as and when appropriate in accordance with the Listing Rules.

By order of the Board Christobelle Liao Company Secretary

Hong Kong, 30 June 2016

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

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