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.

This announcement is for information purposes only and does not constitute an invitation or solicitation of an offer to acquire, purchase or subscribe for securities or an invitation to enter into an agreement to do any such things, nor is it calculated to invite any offer to acquire, purchase or subscribe for any securities.

MODERN LAND (CHINA) CO., LIMITED

當代置業(中國)有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1107)

Termination of the Consent Solicitation in respect of

12.85% Senior Notes Due 2021

(ISIN: XS1986632716, Common Code: 198663271)

Reference is made to the announcement of Modern Land (China) Co., Limited (當代置業(中國)有限 公司) (the "Company") dated October 11, 2021 (the "Announcement") in relation to the solicitation of consents to effect certain Proposed Amendments to the Indenture. Capitalized terms used herein but not defined shall have the meanings ascribed to them in the Announcement.

TERMINATION OF THE CONSENT SOLICITATION

As of the date of this announcement, the Company continues to experience liquidity issues and has determined that consummation of the Consent Solicitation and effecting the Proposed Amendments will not be in the best interest of the Company and other stakeholders of the Company, including holders of the Notes. As such, the Company has determined not to accept consents delivered by Eligible Holders pursuant to the Consent Solicitation, and is terminating the Consent Solicitation with immediate effect. No Consent Fee will be paid as a result of the termination of the Consent Solicitation.

The Company is in discussions with prospective independent financial advisors and plans to engage one as soon as possible to work alongside the Company's legal counsel Sidley Austin to assist with assessing the Company's capital structure, liquidity profile, operating and financial condition with a view to achieving a feasible solution to its current liquidity issues that would be beneficial for the stakeholders of the Company, including holders of the Notes.

By Order of the Board

Modern Land (China) Co., Limited

Zhang Peng

President and Executive Director

October 20, 2021

As of the date of this announcement, the Board comprises ten Directors, namely executive Directors: Mr. Zhang Lei, Mr. Zhang Peng and Mr. Chen Yin; non-executive Directors: Mr. Fan Qingguo, Mr. Chen Zhiwei and Mr. Zeng Qiang; and independent non-executive Directors: Mr. Cui Jian, Mr. Hui Chun Ho, Eric, Mr. Gao Zhikai and Mr. Liu Jiaping.

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Modern Land (China) Co. Ltd. published this content on 20 October 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2021 13:40:05 UTC.