UPDATE ON TTS PROJECT DISPOSAL

Adamas Finance Asia Limited

("ADAM" or the "Company")

UPDATE ON TTS PROJECT DISPOSAL

Further to the announcement on 8 February 2017 in relation to the proposed disposal of its interest in the Tian Tong Shan Villa Project, ADAM announces that the Company's subsidiary, Lead Winner Limited, has received a payment of US$700,000 in part settlement of the RMB 50 million (approximately US$7.2 million) due from the exercise of the Put Option (as defined in the announcement on 4 January 2017). The remainder of the amount owed under the Put Option is expected to be paid when the due diligence process being undertaken by the purchaser, R&F Properties Co. Limited, is finalised and payment conditions are met in accordance with the sale and purchase agreement.

A further announcement will be made in due course.

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