Chiwayland International : 20170331 Annt on change in Parramatta shareholding

Registration No. 200610437K (Incorporated in Singapore)

1. CLARIFICATION ON NAME OF PARRAMATTA PROJECT
2. INCREASE IN THE GROUP'S SHAREHOLDING IN BLUESKY PARRAMATTA PTY LTD

The Board of Directors (the "Board") of CWG International Ltd. (the "Company", and together with its subsidiaries, the "Group") refers to its announcements dated 19 December 2014, 29 May 2015, 16 June

2016, 29 June 2016 and 6 December 2016 respectively. Unless otherwise defined herein, all capitalized terms shall bear the same meaning as that given to them in the announcement dated 6 December 2016.

The Company would like to clarify that the name of the residential building that will be built on the Land Site, as referenced in its earlier announcements dated 16 June 2016 and 6 December 2016, is The Peak, instead of Bluesky @ Parramatta.

The Company further wishes to announce that Chen Min, a director of CWG Development Pty Ltd ("CWG Development") and the holder of six (6) ordinary shares in the issued share capital of Bluesky Parramatta Pty Ltd ("Bluesky"), representing 5% of the shareholding interest of Bluesky, has transferred one (1) ordinary share in Bluesky to CWG Development at an aggregate consideration of AUD 135,000, inclusive of the discharge of a pro-rated non-interest bearing shareholders loan of AUD 112,500 ("Shareholders Loan"). The issued and paid up share capital of Bluesky is AUD 120, comprising of 120 ordinary shares and the aggregate value of the Shareholders Loan is AUD 13,500,000. Bluesky is the holding company of The Peak, and the consideration was arrived at taking into account the value of the Land Site following the increase in its plot ratio from 4:1 to 8:1, and is arrived at on a willing-seller willing- buyer basis. Based on the unaudited accounts of Bluesky as at 31 December 2016, the asset value of each ordinary share in Bluesky, inclusive of the Shareholders Loan and less all other liabilities, is AUD$195,000.

Upon completion of the abovementioned transaction, CWG Development will become the holder of 75.8% of the shareholding interest of Bluesky, and Chen Min will be the holder of the remaining 4.2% of the shareholding interest of Bluesky. Chiway International Group (S) Pte. Ltd. will remain the 20% shareholder of Bluesky.

None of the Directors and substantial shareholders of the Company has any interest, direct or indirect, in the above other than through their shareholdings (if any) in the Company.

By Orders of the Board of

QIAN JIANRONG

Executive Chairman and Chief Executive Officer 31 March 2017