Times Property : RESULT OF CONSENT SOLICITATION IN RESPECT OF THE SENIOR NOTES

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 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, management, as well as financial statements. No public offer of securities is to be made by the Company in the United States.

時 代 地 產 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

1. 10.375% SENIOR NOTES DUE 2017,
2. 12.625% SENIOR NOTES DUE 2019, AND
3. 11.450% SENIOR NOTES DUE 2020

Reference is made to the announcement by Times Property Holdings Limited (the "Company") on November 18, 2016 (the "Announcement") in relation to the solicitation of consents (the "Consent Solicitation") to certain proposed amendments (the "Proposals"), as described therein, to:

• the indenture, dated as of July 16, 2014 (as supplemented or amended to the date hereof, the "2017 Indenture"), by and among the Company, the Subsidiary Guarantors (as defined therein) and Citicorp International Limited, as trustee and collateral agent, governing its 10.375% Senior Notes Due 2017 (Common Code 108492643, ISIN XS1084926432) (the "2017 Notes");

• the indenture, dated as of March 21, 2014 (as supplemented or amended to the date hereof, the "2019 Indenture"), by and among the Company, the Subsidiary Guarantors (as defined therein) and Citicorp International Limited, as trustee, governing its 12.625% Senior Notes Due 2019 (Common Code 104599320, ISIN XS1045993208) (the "2019 Notes"); and

• the indenture, dated as of March 5, 2015 (as supplemented or amended to the date hereof, the "2020 Indenture" and, together with the 2017 Indenture and 2019 Indenture, the "Indentures"), by and among the Company, the Subsidiary Guarantors (as defined therein) and Citicorp International Limited, as trustee, governing its 11.450% Senior Notes Due 2020 (Common Code 116512947, ISIN XS1165129476) (the "2020 Notes" and, together with the 2017 Notes and 2019 Notes, the "Notes" and, each a "Series").

Unless otherwise defined, capitalized terms used herein shall have the same meanings as defined in the Announcement.

As indicated in the consent solicitation statement dated November 18, 2016, the Consent Solicitation expired at 5:00 p.m., Central European Time, on December 1, 2016.

The Company announces that it has received the requisite consents necessary to effect the Proposals to each of the Indentures. As the requisite consents have been obtained, the Company and the Subsidiary Guarantors intend to execute a supplemental indenture with respect to each of the Indentures with the respective trustee as soon as practicable to give effect to the Proposals.

The distribution of this announcement in certain jurisdictions may be restricted by law. Persons who come into possession of this announcement are required to inform themselves about, and to observe, any such restrictions.

Forward-looking statements in this announcement, including those statements relating to the Consent Solicitation, such as the payment of the consent fee and the execution of the supplemental indentures, are based on current expectations. 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 could vary materially from the description contained herein due to many factors including changes in the market and price for any Series of Notes; changes in the business and financial condition of the Company and its subsidiaries; changes in the debt markets in general; and the occurrence of events specified in the Consent Solicitation that would trigger a condition permitting termination or amendment of the Consent Solicitation.

By order of the Board

Chairman

Hong Kong, December 2, 2016

As at the date of this announcement, the executive Directors of the Company are Mr. Shum Chiu Hung, Mr. Guan Jianhui, Mr. Bai Xihong, Mr. Li Qiang, Mr. Cen Zhaoxiong and Mr. Niu Jimin and the independent non-executive directors of the Company are Mr. Jin Qingjun, Ms. Sun Hui and Mr. Wong Wai Man.