IGG Inc — Capital/Financing Update 2011

Feb 24, 2011

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.

==> picture [118 x 76] intentionally omitted <==

ORIENTAL WATCH HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(the “Company”) (Stock Code: 398)

DISCLOSEABLE TRANSACTION

Reference is made to the announcement of the Company dated 17th February, 2011 (the “Announcement”). Terms used herein shall have the same meanings as defined in the Announcement.

The Purchaser took into account the prices in recent transactions of similar properties in arriving at the consideration for the acquisition of the Property.

According to information provided by the Vendor, the rentals for the Property (which were partly let) for 2 years ended 31st December, 2010 were HK$1,372,500 and HK$1,440,000 respectively, both exclusive of rates and management fees.

The Company would clarify that it intends to use the Property as watch retail outlet to expand its sales network. The Property is situated in Tsimshatsui East with a number of hotels in its vicinity. It is expected the retail outlet would attract tourists in the area, particularly tourists from Mainland China.

By Order of the Board Lam Hing Lun, Alain Company Secretary

Hong Kong, 24th February, 2011

As at the date of this announcement, the executive directors of the Company are Mr. Yeung Ming Biu, Mr. Yeung Him Kit, Dennis, Mr. Fung Kwong Yiu, Ms. Yeung Man Yee, Shirley, Mr. Lam Hing Lun, Alain and Mr. Choi Kwok Yum, and the independent non-executive directors are Dr. Sun Ping Hsu, Samson, Dr. Li Sau Hung, Eddy and Mr. Choi Man Chau, Michael.