Wharf : Declaration of Special Dividend by Further Distribution in Specie of i-CABLE Shares Has Become Unconditional

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 Hong Kong with limited liability)

(Stock Code: 4)

Reference is made to the announcements dated 9 August 2017 and 15 September 2017 (the "Announcement") issued by The Wharf (Holdings) Limited (the "Company") in relation to, among others, the Further Distribution in Specie. Unless otherwise defined in this announcement, capitalised terms used herein shall have the same meanings as defined in the Announcement.

The Board is pleased to announce that the declaration of the special dividend in the form of the Further Distribution in Specie has become unconditional on 27 September 2017.

As at 6:00 p.m. on the Further DIS Record Date, being 22 September 2017:

1. 841,987,090 i-CABLE Shares were registered in the name of the Company and 3,036,227,327 Wharf Shares were in issue. The Further Distribution in Specie will therefore be made in the proportion of 27.73135 i-CABLE Shares for every 100 Wharf Shares then held; and

2. there were 193 Wharf Overseas Shareholders whose addresses as registered in the register of members of Wharf were in 20 jurisdictions outside Hong Kong (namely, Australia, Barbados, Canada, the Channel Islands, France, Gibraltar, India, Indonesia, Ireland, Macau, Malaysia, New Zealand, the People's Republic of China, the Philippines, Portugal, Singapore, Taiwan, Thailand, the United Kingdom and the United States). Having considered the advice provided by legal counsels in the aforementioned overseas jurisdictions, the Board is of the view that the Further Distribution in Specie shall be extended to Wharf Overseas Shareholders whose addresses as shown on the register of members of Wharf on the Further DIS Record Date are in any of the abovementioned overseas jurisdictions except Australia, Barbados and Canada. For more details on the arrangements for the Relevant i-CABLE Shares which would otherwise be transferred to Wharf Non-Qualifying Shareholders, please refer to the paragraph headed "Wharf Non-Qualifying Shareholders" in the Announcement.

Pursuant to the expected timetable for the Further Distribution in Specie as set out in the Announcement, the certificates in relation to the Relevant i-CABLE Shares to be distributed pursuant to the Further Distribution in Specie are expected to be despatched to Wharf Qualifying Shareholders on 10 October 2017.

By order of the Board

Company Secretary

Hong Kong, 27 September 2017

As at the date of this announcement, the Board comprises Mr. Stephen T. H. Ng, Mr. Andrew O. K. Chow, Ms. Doreen Y. F. Lee, Mr. Paul Y. C. Tsui, Ms. Y. T. Leng and Mr. K. P. Chan, together with seven independent non-executive directors, namely, Mr. Alexander S. K. Au, Professor Edward K. Y. Chen, Mr. Vincent K. Fang, Mr. Hans Michael Jebsen, Ms. Elizabeth Law, Mr. David Muir Turnbull and Professor E. K. Yeoh.

The Wharf (Holdings) Limited -Announcement

(27 September 2017)