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(incorporated in Hong Kong with limited liability)

(Stock Code: 880) ANNOUNCEMENT REGARDING EXERCISE OF EARLY BUY OPTIONS IN RESPECT OF A FURTHER TWO PRIVATE JET AIRCRAFT

The Directors are pleased to announce that on 11 September 2013, Sky Reach, a subsidiary of the Company, and Jet Asia (a subsidiary of STDM) have exercised the early buy options under the relevant Lease Agreements and Sublease Agreements in order to place Jet Asia in a position to be able to sell a further two private jet aircraft to the same third party purchaser referred to in the Announcement.
The Company is required to report the exercise of the early buy options by Jet Asia under the relevant Sublease Agreements pursuant to Rule 14A.69(2) of the Listing Rules.

EXERCISE OF EARLY BUY OPTIONS

Reference is made to the announcement of the Company dated 23 August 2013 in relation to the exercise of early buy options in respect of two private jet aircraft on 21 August 2013 (the "Announcement"). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcement.
The Directors are pleased to announce that on 11 September 2013, Sky Reach, a subsidiary of the Company, and Jet Asia (a subsidiary of STDM) have exercised early buy options under the relevant Lease Agreements and Sublease Agreements in order to place Jet Asia in a position to be able to sell a further two private jet aircraft to the same third party purchaser referred to in the Announcement. The aggregate consideration payable by Sky Reach to Credit Suisse AG for the exercise of the early buy options under the relevant Lease Agreements for these two private jet aircraft is approximately US$9.9 million (approximately HK$77 million at a conversion rate of US$1.00=HK$7.8), Sky Reach will receive an identical amount from Jet Asia for the exercise of early buy options under the relevant Sublease Agreements. As such, the net consideration of these transactions from the perspective of Sky Reach is zero and the effect is economic neutral for the Company.

LISTING RULES IMPLICATIONS

The Company is required to report the exercise of the early buy options by Jet Asia under the relevant Sublease Agreements pursuant to Rule 14A.69(2) of the Listing Rules.
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CONTINUING CONNECTED TRANSACTIONS UNDER THE REMAINING SUBLEASE AGREEMENTS

Following completion of the exercise of the early buy options under the relevant Lease Agreements and Sublease Agreements, there will remain in place lease and sub-lease arrangements in respect of two private jet aircraft. The Board has been notified by Jet Asia that Jet Asia intends to sell these two aircraft in due course. Further announcement(s) will be made if Sky Reach and Jet Asia further exercise early buy options under the remaining Lease Agreements and Sublease Agreements. Pending such sale, payments of rentals under the relevant Sublease Agreements will continue to constitute continuing connected transactions for which annual caps have been obtained by the Company until the end of 2013.
By order of the Board

SJM Holdings Limited So Shu Fai

Executive Director and Chief Executive Officer

Hong Kong, 12 September 2013

As at the date of this announcement, the executive Directors are Dr. Ho Hung Sun, Stanley, Dr. So Shu Fai, Mr. Ng Chi Sing, Mr. Rui José da Cunha, Ms. Leong On Kei, Angela, Mr. Shum Hong Kuen, David and Mr. Fok Tsun Ting, Timothy, the non-executive Director is Dr. Cheng Kar Shun and the independent non-executive Directors are Mr. Chau Tak Hay, Dr. Lan Hong Tsung, David, Mr. Shek Lai Him, Abraham and Mr. Tse Hau Yin.

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