S E A Holdings Limited — Earnings Release 2011

Mar 20, 2012

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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S E A HOLDINGS LIMITED **爪 哇 控 股 有 限 公 司 ***

（ Incorporated in Bermuda with limited liability ） (Stock Code ： 251)

ANNOUNCEMENT OF 2011 ANNUAL RESULTS OF A LONDON LISTED SUBSIDIARY

This announcement is issued pursuant to rule 13.09 of the Listing Rules.

The Board of the Company announces that AGP, the Company’s subsidiary listed in London, has released its audited consolidated financial results for the year ended 31 December 2011 on 19 March 2012.

As the contribution from the AGP group has a substantial effect on the Company’s consolidated results, the Board of the Company considers it appropriate for the Company to issue an announcement regarding a summary of AGP’s aforesaid results to the public.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

This announcement is issued pursuant to rule 13.09 of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “ Listing Rules ”).

The board of directors (the “ Board ”) of S E A Holdings Limited (the “ Company ”) announces that Asian Growth Properties Limited (“ AGP ”), a subsidiary of the Company whose shares are admitted for trading on the AIM Market of London Stock Exchange Plc., has released its audited consolidated financial results for the year ended 31 December 2011 on 19 March 2012 in England. The Company had an effective 97.17% shareholding interest in AGP as at 31 December 2011 and accordingly, AGP’s aforesaid results will be consolidated into the Company’s financial statements for the year ended on the same date.

AGP reported that no final dividend had been declared by AGP’s board of directors for the year ended 31 December 2011 (2010: Nil) and the AGP group recorded the following results:

• Total operating revenue of HK$571.4 million (2010: HK$706.8 million).

• Profit attributable to AGP’s shareholders of HK$1,152.5 million (2010 (restated): HK$961.2 million).

• Earnings per share for profit attributable to AGP’s shareholders of HK130.0 cents (2010 (restated): HK108.4 cents).

• Fair value changes of investment properties net of deferred taxation effect increased by HK$1,093.5 million (2010 (restated): HK$901.9 million).

• Earnings per share before fair value changes on investment properties net of deferred taxation effect of HK6.7 cents (2010 (restated): HK6.7 cents).

• For identification purpose only

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• Equity attributable to AGP’s shareholders as at 31 December 2011 of HK$10,533.8 million (31 December 2010 (restated): HK$9,225.6 million).

• Net asset value per share attributable to AGP’s shareholders as at 31 December 2011 of HK$11.9 (31 December 2010 (restated): HK$10.4).

The aforesaid results released by AGP are available for viewing on AGP’s website at “www.asiangrowth.com”. In the event that shareholders of the Company wish to obtain a hard copy of the annual results of AGP, please contact the Company Secretarial Department of the Company at (852) 2828 6429 during normal office hours at a charge of HK$1.00 per A4-size sheet.

The Board expects to publish the Company's audited consolidated results for the year ended 31 December 2011 in accordance with the requirements of the Listing Rules on 30 March 2012.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board S E A Holdings Limited Chan Yuk Ying Company Secretary

Hong Kong, 20 March 2012

At the date of this announcement, the Board comprises the following members:-

Messrs. Lu Wing Chi (Chairman and Managing Director) , Lu Wing Yuk, Andrew, Lincoln Lu and Lambert Lu

Executive Directors: Messrs. Lu Wing Chi (Chairman and Managing Director) , Lu Wing Yuk, Andrew, Lincoln Lu and Lambert Lu Non-executive Director: Mr. Lam Sing Tai Independent Non-executive Directors: Messrs. Walujo Santoso, Wally, Leung Hok Lim and Chung Pui Lam

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