Pacific Century Premium Developments : Retirement of Executive Director

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PACIFIC CENTURY PREMIUM DEVELOPMENTS LIMITED

*

(incorporated in Bermuda with limited liability)

(Stock Code: 00432)

RETIREMENT OF EXECUTIVE DIRECTOR

The board of directors (the "Board") of Pacific Century Premium Developments Limited (the "Company", together with its subsidiaries, the "Group") announces that Mr James Chan ("Mr Chan") has retired from his position as an Executive Director and a member of the Executive Committee of the Company with effect from 11 February 2020. Mr Chan will remain as Project Director of the Company to ensure a smooth transition of his duties until 31 March 2020.

In accordance with the requirements of Rule 13.51(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited, Mr Chan has confirmed that he has no disagreement with the Board and that he is not aware of any matters relating to his retirement that need to be brought to the attention of the shareholders of the Company.

The Board would like to express its sincere gratitude and appreciation to Mr Chan for his valuable contributions and leadership to the Company over the past 17 years; during which Mr Chan was instrumental in many of the Group's significant property development projects including the Bel-Air in Hong Kong, Pacific Century Place, Jakarta in Indonesia and the Park Hyatt Niseko, Hanazono and the Park Hyatt Niseko Hanazono Residences in Japan.

By Order of the Board

Pacific Century Premium Developments Limited

Timothy Tsang

General Counsel and Company Secretary

Hong Kong, 11 February 2020

As at the date of this announcement, the directors of the Company are as follows:

Executive Directors:

Li Tzar Kai, Richard; Benjamin Lam Yu Yee (Deputy Chairman and Group Managing Director); and Hui Hon Hing, Susanna

Non-Executive Directors:

Lee Chi Hong, Robert (Non-Executive Chairman); and Dr Allan Zeman, GBM, GBS, JP

Independent Non-Executive Directors:

Prof Wong Yue Chim, Richard, SBS, JP; Chiang Yun; and Dr Vince Feng

* For identification only