Chinese Food and Beverage : EXTENSION OF PERIOD OF VALIDITY AND EXCLUSIVITY UNDER THE MEMORANDUM OF UNDERSTANDING IN RELATION TO POSSIBLE DISPOSAL

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.

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 8272) EXTENSION OF PERIOD OF VALIDITY AND EXCLUSIVITY UNDER THE MEMORANDUM OF UNDERSTANDING IN RELATION TO POSSIBLE DISPOSAL

Reference is made to the announcement of the Company dated 12 July 2017 (the "Announcement") in relation to, among others, the entering into of the MOU in respect of the Possible Disposal. Capitalised terms used herein shall have the same meanings as those defined in the Announcement unless the context otherwise requires.

As agreed by the Parties and as set out in the MOU, the MOU shall remain valid, binding and effective until 31 August 2017 (or such later time as the Parties may agree in writing).

To enable the Parties to have further time to, inter alia, negotiate and agree on the ultimate structure of the Possible Disposal, on 1 September 2017, the Parties executed a supplemental memorandum of understanding (the "First Supplemental MOU"), pursuant to which the Parties agreed to extend the period of validity of the MOU to 29 September 2017, and it therefore follows that the exclusivity shall be extended to 29 September 2017 as well.

The MOU as revised and supplemented by the First Supplemental MOU shall be valid, binding and effective upon execution, and shall remain to be valid, binding and effective until 29 September 2017 (or such later time as the Parties may agree in writing).

The Possible Disposal, if materialised, may constitute a notifiable and connected transaction of the Company under the GEM Listing Rules. Further details of the Possible Disposal shall be subject to the Formal Agreements to be entered into by the Parties and further announcement(s) will be made upon execution of the Formal Agreements as and when appropriate, and in accordance with the GEM Listing Rules.

By order of the Board

CHINESE FOOD AND BEVERAGE GROUP LIMITED Chow Cheuk Hang

Executive Director

Hong Kong, 1 September 2017

As at the date of this announcement, Mr. Lam Raymond Shiu Cheung, Mr. Chow Cheuk Hang and Mr. Yuen Koon Tung are executive Directors; Mr. Yeung Wai Hung, Peter, Mr. Kam Tik Lun, Mr. Ho Siu King Stanley and Mr. Ma Stephen Tsz On are independent non-executive Directors.

This announcement, for which the Directors collectively and individually accept full responsibility, includes particulars given in compliance with the GEM Listing Rules for the purpose of giving information with regard to the Company. The Directors, having made all reasonable enquiries, confirm that to the best of their knowledge and belief the information contained in this announcement is accurate and complete in all material respects and not misleading or deceptive, and there are no other matters the omission of which would make any statement herein or this announcement misleading.

This announcement will remain on the "Latest Company Announcements" page of the GEM website at www.hkgem.com for at least seven days from the date of its publication and the Company's website at www.cfbgroup.com.hk.