PegBio Co., Ltd. — Capital/Financing Update 2010

Mar 11, 2010

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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POLY DEVELOPMENT HOLDINGS LIMITED 保興發展控股有限公司

(Incorporated in Bermuda with limited liability) (Stock Code: 1141)

COMPLETION OF PLACING OF EXISTING SHARES

Placing Agent

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Reference is made to the announcement of the Company dated 10 March 2010 (the “ Announcement ”) in relation to the Placing of existing Shares and Subscription of new Shares. Unless otherwise stated, terms used herein shall have the same meanings as defined in the Announcement.

The Board is pleased to announce that the Placing was completed on 11 March 2010, pursuant to which the Placing Agent has placed 425,912,000 Placing Shares to not less than six Placees who and whose ultimate beneficial owners are third parties independent of the Company and connected persons (as defined in the Listing Rules) of the Company at the Placing Price of HK$1.14 per Placing Share. The gross proceeds from the Placing are approximately HK$485.5 million.

By Order of the Board Suen Cho Hung, Paul Chairman

Hong Kong, 11 March 2010

As at the date of this announcement, the Board comprises Mr. Suen Cho Hung, Paul (Chairman), Mr. Sue Ka Lok (Chief Executive Officer), Mr. Bai Jianjiang and Mr. Chau Chung Tak as Executive Directors and Mr. Wong Kwok Tai, Mr. Weng Yixiang, Mr. Lu Xinsheng and Mr. Xiong Wei as Independent Non-executive Directors.

* For identification only