Shimao Property : Redemption of Senior Notes due 2018

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 offer to sell or the solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No securities may be offered or sold in the United States absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus. Such prospectus will contain detailed information about the company making the offer and its management and financial statements. The Company does not intend to make any public offering of securities in the United States.

世茂房地產控股有限公司

(Incorporated in the Cayman Islands with limited liability)

Reference is made to the announcements of Shimao Property Holdings Limited (the
"Company") dated 2 March 2011 (the "2011 Announcement") in relation to the issuance of
11% senior notes due 2018 (the "2018 Notes") and 4 February 2015 in relation to the issuance of 8.375% senior notes due 2022 (the "2022 Notes"). Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the 2011 Announcement.
Pursuant to the terms of the indenture dated as of 8 March 2011 (as amended or supplemented from time to time), among the Company, the entities set forth in Schedule I thereto as Subsidiary Guarantors, the JV subsidiary guarantors party thereto and Citicorp International Limited, as trustee (the "Trustee"), entered into in connection with the issuance of the 2018
Notes, the Company announces today that it has informed the Trustee and holders of the 2018
Notes that all the outstanding 2018 Notes will be redeemed in full on 8 March 2015 (the "Redemption Date") at a redemption price equal to 105.50% of the principal amount thereof, plus accrued and unpaid interest, if any, to (but not including) the Redemption Date.
As of the date of this announcement, the outstanding principal amount of the 2018 Notes is US$350,000,000. The Company will satisfy the payment of the outstanding principal amount of the 2018 Notes using a portion of the expected net proceeds from the offering of 2022
Notes.
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Upon redemption of the outstanding 2018 Notes on the Redemption Date, all the redeemed
2018 Notes will be cancelled.

Forward-looking statements in this announcement are based on current expectations of the Company. These statements are not guarantees of future events or results. Future events and results involve some risks, uncertainties and assumptions that are difficult to predict. Actual events and results, including, among others, issuance of the 2022 Notes, could vary materially from the description contained herein due to many factors, including, among others, changes in the business and financial condition of the Group as well as changes in the market in general.
On behalf of the Board Shimao Property Holdings Limited Hui Wing Mau

Chairman

Hong Kong, 6 February 2015

As at the date of this announcement, the Board comprises five executive directors, namely, Mr. Hui Wing Mau (Chairman), Mr. Hui Sai Tan, Jason (Vice Chairman), Mr. Xu Younong, Ms. Tang Fei and Mr. Liao Lujiang; one non-executive director, namely, Mr. Liu Sai Fei; and three independent non-executive directors, namely, Ms. Kan Lai Kuen, Alice, Mr. Lu Hong Bing and Mr. Lam Ching Kam.

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