Parkson Retail Group Limited — M&A Activity 2007

Nov 15, 2007

The Stock Exchange of Hong Kong Limited takes no responsibility for the contents of this announcement, makes no representation as to its accuracy or completeness and expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PARKSON RETAIL GROUP LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 3368)

DISCLOSEABLE AND CONNECTED TRANSACTION ACQUISITION OF 49% INTEREST IN ANSHAN PARKSON AND 100% INTEREST IN THE ANSHAN PROPERTY

On 15 November 2007, at the request of the Vendor, the Company has agreed to further extend the Lung Shing International Long Stop Date in relation to the proposed acquisition of the 100% interest in the Anshan Properties for a period of 30 days commencing from 16 November 2007.

Reference is made to the Company’s proposed indirect acquisition from the Vendor of the 49% interest in Anshan Parkson (the remaining 51% of which is currently owned indirectly by the Company) and the 100% interest in the Anshan Properties (“the Acquisitions”), which was announced on 23 April 2007. The details of the Acquisitions are set out in the circular of the Company dated 15 May 2007 (“the Circular”). Subsequent thereto, the Company had on 20 August 2007 announced that it had, at the request of the Vendor, agreed to extend the Lung Shing International Long Stop Date for a period of 90 days (i.e. 15 November 2007) to enable him to fulfil the Sale Property Conditions.

Unless otherwise provided herein, all capitalised terms used in this Announcement shall have the same meanings as defined in the Circular and the Announcement dated 20 August 2007.

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By a letter dated 15 November 2007, the Vendor informed that he is unable to fulfil the Sale Property Conditions in time due to the administrative and procedural requirements set out by the relevant authorities. Accordingly, the Vendor has requested for a further extension of 30 days to enable him to fully comply with the Sale Property Conditions. After due consideration, the Purchaser has agreed to grant the requisite extension to the Vendor.

By order of the Board PARKSON RETAIL GROUP LIMITED Cheng Yoong Choong Managing Director

Hong Kong, 15 November 2007

As at the date of this announcement, Mr CHENG Yoong Choong and Mr CHEW Fook Seng are executive directors of the Company, Tan Sri CHENG Heng Jem is a non-executive director of the Company and, Mr STUDER Werner Josef, Mr KO Tak Fai, Desmond and Mr Yau Ming Kim, Robert are the independent non-executive directors of the Company.

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