Chinese Estates : Further Delay in Despatch of Circular

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.

CHINESE ESTATES HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 127)

CONTINUING CONNECTED TRANSACTIONS

CONTRACT FOR SERVICES

FURTHER DELAY IN DESPATCH OF CIRCULAR

This announcement is made by Chinese Estates Holdings Limited (the "Company") pursuant to Rule 14A.47 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

Reference is made to the announcements of the Company with regard to the discloseable and continuing connected transactions in relation to the provision of the Services to Ms. Chan and/or the Chan Associates dated 14 August 2020 and the delay in despatch of the Circular dated 4 September 2020 (collectively, the "Announcements"). Capitalised terms used herein shall have the same meanings as those defined in the Announcements unless the context requires otherwise.

As disclosed in the Announcements, the date of despatch of the Circular will be postponed to a date no later than 18 September 2020. As additional time is required to finalise certain information in the Circular, the date of despatch of the Circular will be further postponed to a date no later than 5 October 2020.

By order of the Board

Lam, Kwong-wai

Executive Director and Company Secretary

Hong Kong, 18 September 2020

As at the date of this announcement, the Board comprised Ms. Chan, Sze-wan, Ms. Chan, Hoi-wan, Ms. Chan, Lok-wan and Mr. Lam, Kwong-wai as Executive Directors, Mr. Lau, Ming-wai and Ms. Amy Lau, Yuk-wai as Non-executive Directors, and Mr. Chan, Kwok-wai, Ms. Phillis Loh, Lai-ping and Mr. Ma, Tsz-chun as Independent Non-executive Directors.

Website: http://www.chineseestates.com