The Securities and Futures Commission of Hong Kong, 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.

Managed by RE-DESIGNATION OF DIRECTOR

The Board is pleased to announce that Mr. Ho Shut Kan has been re-designated as an Independent Non-executive Director of the REIT Manager with effect from 16 January 2017.

The board of directors (the "Board") of Eagle Asset Management (CP) Limited (the "REIT Manager") as manager of Champion Real Estate Investment Trust ("Champion REIT") is pleased to announce that Mr. Ho Shut Kan ("Mr. Ho") has been re-designated as an Independent Non-executive Director of the REIT Manager with effect from 16 January 2017. The brief biographical details of Mr. Ho are set out below.

Mr. Ho Shut Kan, aged 68, was appointed a Non-executive Director of the REIT Manager in 2007. He has been re-designated as an Independent Non-executive Director with effect from 16 January 2017.

The Board and the Audit Committee of the REIT Manager consider that Mr. Ho is independent and has satisfied the independence criteria contained in the REIT Manager's corporate governance policy as set out in the Compliance Manual of Champion REIT and Rule 3.13 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules"), notwithstanding that he has been (i) a Non-executive Director of the REIT Manager until 16 January 2017 given that during his tenure as a Non-executive Director of the REIT Manager, he did not have any executive or management role or functions in the REIT Manager, Champion REIT and its special purpose vehicles, nor had he throughout such period been under the employment of any operating entities (including the REIT Manager) that managed the properties of Champion REIT, and he had only attended meetings of the Board in his capacity as a Non-executive Director; and (ii) a director of Kerry Properties Limited and certain of its subsidiaries (collectively, "KPL Group"), which is a connected person of Champion REIT but has only become such a connected person solely due to his role as a Non-executive Director of the REIT Manager thus has no influence on his independence.

Mr. Ho has also provided a confirmation of his independence to the REIT Manager. Mr. Ho has over thirty years of experience in the property sector, the REIT Manager believes that Mr. Ho is able to provide industry inputs through his experience and expertise in the property sector and hence will facilitate the development and expansion of the business of Champion REIT. The re- designation is aimed to truly reflect Mr. Ho's role and contribution to the Board of the REIT Manager and after the re-designation the number of Independent Non-executive Directors of the Board will then be higher than the number of Non-executive Directors thereby enhance the independence of the composition of the Board. The Board and the Audit Committee are of the opinion that Mr. Ho possesses all the characteristics to act as an Independent Non-executive Director of the REIT Manager and will be able to carry out his duties impartially and independently. The REIT Manager has informed HSBC Institutional Trust Services (Asia) Limited in its capacity as the trustee of Champion REIT of such opinion, and confirm that they have no objection in respect of the same.

Mr. Ho is currently serving as an Executive Director and the President of Kerry Properties Limited, a listed company in Hong Kong. He is also a director of Shang Properties, Inc. which is listed in the Philippines.

Save as disclosed above, Mr. Ho did not hold any other directorship in the last three years preceding the date of this announcement in public companies the securities of which are listed in Hong Kong or overseas. Mr. Ho has not entered into any service contract with the REIT Manager nor was he appointed for a specific term. All remuneration payable to Mr. Ho are paid and borne by the REIT Manager out of its own resources.

Mr. Ho holds a Master of Business Administration Degree from the University of East Asia.

Mr. Ho does not have any relationship with any directors or senior management of the REIT Manager or substantial or controlling unitholders of Champion REIT. As at the date of this announcement, he does not have any interest in the issued units of Champion REIT within the meaning of Part XV of the Securities and Futures Ordinance.

Save as disclosed above, there are no other matters concerning the re-designation of Mr. Ho that need to be brought to the attention of the unitholders of Champion REIT and there is no other information that should be disclosed pursuant to Rules 13.51(2)(h) to (v) of the Listing Rules as if they were applicable to Champion REIT.

The Board confirms that after the re-designation as mentioned above, the compositions of the Board, the Audit Committee and the Disclosures Committee of the REIT Manager comply with the REIT Manager's corporate governance policy as contained in the Compliance Manual of Champion REIT.

With effect from the date of this announcement, the compositions of the board of directors and the board committees of the manager of Champion REIT are as follows:

Board of Directors

Non-executive Directors: Dr. Lo Ka Shui (Chairman) Mr. Ip Yuk Keung, Albert Mr. Lo Kai Shui

Executive Director:

Ms. Wong Ka Ki, Ada (Chief Executive Officer)

Independent Non-executive Directors:

Mr. Cha Mou Sing, Payson

Mr. Cheng Wai Chee, Christopher Mr. Ho Shut Kan

Mr. Shek Lai Him, Abraham

Audit Committee

Mr. Shek Lai Him, Abraham (Chairman)

Mr. Cheng Wai Chee, Christopher Dr. Lo Ka Shui

Disclosures Committee

Ms. Wong Ka Ki, Ada (Chairman)

Dr. Lo Ka Shui

Mr. Shek Lai Him, Abraham

By Order of the Board

Eagle Asset Management (CP) Limited (as manager of Champion Real Estate Investment Trust) Lo Ka Shui

Chairman

Hong Kong, 16 January 2017

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

Non-executive Directors:

Dr. Lo Ka Shui (Chairman), Mr. Ip Yuk Keung, Albert and Mr. Lo Kai Shui

Executive Director:

Ms. Wong Ka Ki, Ada (Chief Executive Officer)

Independent Non-executive Directors:

Mr. Cha Mou Sing, Payson, Mr. Cheng Wai Chee, Christopher, Mr. Ho Shut Kan and Mr. Shek Lai Him, Abraham

Champion Real Estate Investment Trust published this content on 16 January 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 23 January 2017 10:15:05 UTC.