Television Broadcasts : (1) Conditional Cash Offer by Merrill Lynch (Asia Pacific) Limited on behalf of Television Broadcasts Limited to Repurchase up to 120,000,000 Shares at HK$35.075 Per Share, and (2) Application for Whitewash Waiver Further Delay in Despatch of Offer Document – Update 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.

This announcement has been prepared pursuant to, and in order to comply with, the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the Codes on Takeovers and Mergers and Share Buy-backs, and does not constitute an offer to buy, or the solicitation of an offer to sell or subscribe for, any securities or an invitation to enter into an agreement to do any such things, nor is it calculated to invite any offer to buy, sell or subscribe for any securities.

(Incorporated in Hong Kong with limited liability)

1. CONDITIONAL CASH OFFER BY MERRILL LYNCH (ASIA PACIFIC) LIMITED ON BEHALF OF TELEVISION BROADCASTS LIMITED TO REPURCHASE UP TO 120,000,000 SHARES AT HK$35.075 PER SHARE, AND
2. APPLICATION FOR WHITEWASH WAIVER

Reference is made to (1) the announcement of the Company dated 24 January 2017 in connection with the original Offer and the Whitewash Waiver (the "Announcement"); (2) the announcement of the Company dated 13 February 2017 setting out the revised terms of the Offer; (3) the announcement of the Company dated 14 February 2017 on delay in despatch of the Offer Document; (4) the announcement of the Company dated 21 February 2017 on further delay in despatch of the Offer Document; (5) the announcement of the Company dated 3 March 2017 on further delay in despatch of the Offer Document; and (6) the announcement of the Company dated 17 March 2017 on further delay in despatch of the Offer Document. Unless otherwise stated, capitalised terms used herein shall bear the same meanings as those defined in the Announcement.

The Board wishes to update that the reasons for delay in despatch of the Offer Document are

(i) the Offer Document will incorporate the Company's annual results for the financial year ended 31 December 2016 which the Company is planning to release on 29 March 2017; (ii) the Executive has referred certain questions relating to the application for a whitewash waiver to the Takeovers and Mergers Panel (the "Panel") for direction pursuant to section 10.1 of the Introduction to the Takeovers Code; and (iii) the Panel hearing for the said referral will only take place on or after 5 April 2017.

A further announcement will be made when the Offer Document is being despatched.

By Order of the Board Adrian MAK Yau Kee Company Secretary

Hong Kong, 24 March 2017

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

Dr. Charles CHAN Kwok Keung

LI Ruigang

Mark LEE Po On Group Chief Executive Officer

CHEONG Shin Keong General Manager

Mona FONG

Anthony LEE Hsien Pin CHEN Wen Chi

Thomas HUI To

Dr. Raymond OR Ching Fai SBS, JP

Dr. William LO Wing Yan JP

Professor Caroline WANG Chia-Ling Dr. Allan ZEMAN GBM, GBS, JP

The Directors jointly and severally accept full responsibility for the accuracy of the information contained in this announcement, and confirm, having made all reasonable enquiries, that to the best of their knowledge, opinions expressed in this announcement have been arrived at after due and careful consideration and there are no other facts not contained in this announcement the omission of which would make any statement contained in this announcement misleading.