Director/PDMR Shareholding

26 October 2012

ASIAN GROWTH PROPERTIES LIMITED

Disclosure of the Directors' Deemed Shareholding Interests

The board of directors of Asian Growth Properties Limited (the "Company") (AIM Stock Code: AGP), the Hong Kong based China property development and investment company, announces that the Company has today received notifications from the following executive directors of the Company reporting their respective deemed interests in the ordinary shares of US$0.05 each in the Company (the "Shares"):

(1) S E A Holdings Limited ("SEA") is beneficially entitled to, in aggregate, about 97.17% of the existing issued share capital of the Company.

(2) On 24 October 2012, Nan Luen International Limited ("NLI") has acquired SEA shares from Mr. Lambert Lu, an executive director of the Company, (the "Transfer"). After the Transfer, NLI has increased its direct shareholding interest in SEA from 59.78% to 61.02% while Mr. Lambert Lu has decreased his direct shareholding interest in SEA from 1.24% to ~0%.

(3) JCS Limited ("JCS") is interested in 63.58% of the issued share capital of NLI which in turn is interested in 61.02% of the issued share capital of SEA.

(4) NYH Limited ("NYH") is interested in 25% of the issued share capital in each of the two companies which in turn are interested in a total of 1.235% of the issued share capital of SEA.

(5) Immediately after the Transfer, Mr. Lu Wing Chi, an executive director of the Company, is deemed to have an indirect beneficial shareholding interest in 277,730,564 Shares, representing approximately 31.33% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 0.98% direct shareholding interest in SEA;

(ii) 30% direct shareholding interest in NLI;

(iii) 32.61% direct shareholding interest in JCS; and

(iv) 100% direct shareholding interest in NYH.

(6) Immediately after the Transfer, Mr. Lambert Lu is deemed to have an indirect beneficial shareholding interest in 60,442,828 Shares, representing approximately 6.82% of the existing issued share capital of the Company, by virtue of his following interests:

(i) 3.21% direct shareholding interest in NLI; and

(ii) 13.04% direct shareholding interest in JCS.

For more information, please contact:

Lu Wing Chi Tel: +852 2828 6363

Executive Director

Asian Growth Properties Limited

Richard Gray Tel: +44 207 886 2500

Andrew Potts

Panmure Gordon (UK) Limited

(Nominated Advisor)