Shimao Property : Acceptance of Registration for Issue of Asset-Backed Notes By a Wholly-Owned Subsidiary of the Company

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.

(Incorporated in the Cayman Islands with limited liability)

The board of directors of Shimao Property Holdings Limited (the "Company") announces that Shanghai Shimao International Plaza Co., Ltd. (the "Notes Issuer"), an indirect wholly-owned subsidiary of the Company established in the People's Republic of China, has received the "Notice of Acceptance of Registration" dated 17 April 2017 (the "Notice") from National Association of Financial Market Institutional Investors in relation to the issue of Asset-Backed Notes by the Notes Issuer.

The maximum registered amount of the Asset-Backed Notes is RMB6.5 billion, such registered amount will be effective for two years from the date of issue of the Notice and the lead underwriter is Industrial Bank Co., Ltd. The Notes Issuer may issue the Asset-Backed Notes in tranches within the effective period. As at the date of this announcement, the Notes Issuer does not have concrete plan with respect to the timing of issue of the Asset-Backed Notes, the number of tranches and the amount to be issued. The proceeds from the Asset-Backed Notes are intended to use to repay the Notes Issuer's related party borrowings, refinance its working capital and commercial alteration works.

On behalf of the Board

Chairman

Hong Kong, 26 April 2017

As at the date of this announcement, the board of directors of the Company comprises five executive directors, namely, Mr. Hui Wing Mau (Chairman), Mr. Hui Sai Tan, Jason (Vice Chairman), Ms. Tang Fei, Mr. Liao Lujiang and Mr. Kan Naigui; 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.