Pokfulam Development : ANNOUNCEMENT MADE PURSUANT TO RULE 13.51B(2) OF THE LISTING RULES

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POKFULAM DEVELOPMENT COMPANY LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 225)

ANNOUNCEMENT MADE PURSUANT TO

RULE 13.51B(2) OF THE LISTING RULES

This announcement is made by Pokfulam Development Company Limited (the "Company") pursuant to Rule 13.51B(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The Company has been notified by Mr. Li Kwok Sing, Aubrey ("Mr. Li"), Independent Non- Executive Director of the Company, that, on 17 September 2020, the Securities and Futures Commission ("SFC") issued a press release in connection with its enforcement action taken against The Bank of East Asia, Limited ("BEA") in respect of regulatory breaches related to the manner in which BEA held securities in two external custodian accounts (the "Press Release").

Although Mr. Li is a Non-Executive Director of BEA at the time of publication of the Press Release, he has confirmed to the Company that he was not the subject of the SFC's enforcement action which, according to the Press Release, only concerns BEA, nor did he have any involvement in the regulatory breaches to which the enforcement action relates.

Save as disclosed in this announcement, the Company is not aware of any information on the above matter which needs to be brought to the attention of shareholders of the Company.

By Order of the Board

Pokfulam Development Company Limited

Wong Tat Chang, Abraham

Chairman, Managing Director and Executive Director

Hong Kong, 22 September 2020

As at the date of this announcement, the Board comprises Mr. Wong Tat Chang, Abraham (Chairman and Managing Director), Mr. Wong Tat Kee, David and Mr. Wong Tat Sum, Samuel as executive Directors, and Mdm. Lam Hsieh Lee Chin, Linda, Mr. Li Kwok Sing, Aubrey, Mr. Sit Hoi Wah, Kenneth and Mr. Seto Gin Chung, John as independent non-executive Directors.