IGG Inc — M&A Activity 2011

Aug 5, 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.

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ORIENTAL WATCH HOLDINGS LIMITED

(Incorporated in Bermuda with limited liability)

(Stock Code: 398)

VOLUNTARY ANNOUNCEMENT ACQUISITION

On 19th July, 2011, Hamburg , a wholly owned subsidiary of the Company, completed the acquisition of 40% equity interest in 寧波匯美鐘表有限公司 for a total cash consideration of RMB7,050,000 pursuant to a sale and purchase agreement dated 30th June, 2011 with two independent third parties in order to expand the Group’s watch trading business in the PRC.

Oriental Watch Holdings Limited (the “Company”, and together with its subsidiaries, the “Group”) announces that on 19th July, 2011, Hamburg Watch Company Limited (“Hamburg”), a wholly owned subsidiary of the Company, completed the acquisition of 40% equity interest in 寧波匯美鐘表有限公司 (“Target”) for a total cash consideration of RMB7,050,000 (about HK$8,500,000) pursuant to a sale and purchase agreement dated 30th June, 2011 with two independent third parties.

Target is a company established in the People’s Republic of China (the “PRC”) in December 2008. It is principally engaged in watch trading and has four retail outlets in Suchou, Chengdu, Ningbo and Wuhan, the PRC respectively.

The acquisition was made in order to expand the Group’s watch trading business in the PRC.

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

Hong Kong, 5th August, 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 nonexecutive directors are Dr. Sun Ping Hsu, Samson, Dr. Li Sau Hung, Eddy and Mr. Choi Man Chau, Michael.