Parkson Retail : Resignation of Executive Director and Chief Financial Officer

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PARKSON RETAIL GROUP LIMITED

百盛商業集團有限公司

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 3368)

Resignation of Executive Director and Chief Financial Officer

The Board announces that Mr. He Dong has resigned as an executive director of the Company and as the chief financial officer of the Group with effect from 31 October 2019.

The board of directors (the "Board") of Parkson Retail Group Limited (the "Company") wishes to announce on behalf of the Company and its subsidiaries (collectively referred to as the "Group") that Mr. He Dong ("Mr. He") has resigned as an executive director of the Company and the chief financial officer of the Group with effect from 31 October 2019 due to his other commitments.

Mr. He has confirmed that he has no disagreement with the Board and there is no matter in relation to his resignation that needs to be brought to the attention of the shareholders of the Company.

The Board would like to express its gratitude to Mr. He for his valuable efforts and contributions to the Group during his tenure of office.

The Company will identify an appropriate person to fill the vacancy of the chief financial officer of the Group.

On behalf of the Board

PARKSON RETAIL GROUP LIMITED

Tan Sri Cheng Heng Jem

Executive Director & Chairman

31 October 2019

As at the date of this announcement, the Executive Directors of the Company are Tan Sri Cheng Heng Jem and Ms. Juliana Cheng San San, the Non-executive Director is Dato' Sri Dr. Hou Kok Chung and the Independent Non-executive Directors are Dato' Fu Ah Kiow, Mr. Ko Desmond and Mr. Yau Ming Kim, Robert.