New York Wheel Construction Update

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For Immediate Release

15 August 2017

Challenger Acquisitions Limited

("Challenger" or the "Company")

 New York Wheel Construction Update

Challenger Acquisitions Limited (LSE: CHAL) noted the large movement in its share price and high trading volumes in Monday's trading session. It also noted several press articles referring to advanced discussions with a possible new contractor to the New York Wheel project - following the dismissal of the original contractor in July.

In the update to the market published by the Company in July 2017, Mark Gustafson, Challenger's Chief Executive Officer noted that despite the press speculation around the dismissal of the original contractor, Challenger was very confident that the New York Wheel project would be completed.

Challenger looks forward to updating the market when a new contractor is formally appointed and a new date is set for the completion of the New York Wheel.

**ENDS**

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