Symphony Holdings Limited — Capital/Financing Update 2012

Mar 9, 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.

新灃集團有限公司"

(Incorporated in Bermuda with limited liability) (Stock code: 01223)

DELAY IN MAJOR TRANSACTION INVOLVING ACQUISITION OF LAND IN SHENYANG, PRC TO BE FUNDED BY WAY OF FURTHER INJECTION INTO A NON WHOLLY-OWNED SUBSIDIARY

Completion of the December Acquisition is expected to be delayed. Further announcements will be made if and when appropriate.

Reference is made to the announcement made by the Company dated 8th December 2011 and its circular dated 3rd February 2012 ("Circular").

All capitalized terms in this announcement bear the same meanings as in the Circular.

At the time of the Confirmation Agreement, completion of the December Acquisition was expected to take place after the balance of the Premium, which is RMB141,943,800, is paid by Shenyang Keenson. As stated in the Circular, this was expected to take place within three months from the date of the Confirmation Agreement and Shenyang Keenson intends to obtain financial support for this payment from its shareholders Boom Origin, who owns 88%, and Shenyang TongDing who owns 12%, of Shenyang Keenson respectively.

Before the Premium is remitted into the Land Exchange Centre, amongst other things Shenyang Keenson is required to increase its registered capital from USD10.7 million to USD42.5 million, which entails governmental approval of the increase in the registered capital of Shenyang Keenson. That approval has not yet been issued.

Whilst the Company cannot predict timing with certainty, it believes that it will take approximately 3 more months for Shenyang Keenson to obtain approval for the increase in the registered capital and make other arrangements in connection with the completion.

Completion of the December Acquisition will be delayed and further announcements will be made if and when appropriate.

By Order of the Board Chan Ting Chuen Chairman

Hong Kong 9th March 2012

As at the date of this announcement, directors of the Company are:

Executive Directors:	Mr. Chan Ting Chuen (Chairman)
	Mr. Sze Sun Sun Tony (Deputy Chairman & Managing
	Director)
	Mr. Chang Tsung Yuan (Deputy Chairman)
	Mr. Chan Lu Min
	Ms. Chen Fang Mei
	Dr. Ho Ting Seng
Non-executive Director:	Mr. Li I Nan
Independent Non-executive Directors:	Mr. Cheng Kar Shing
	Mr. Feng Lei Ming
	Mr. Ho Shing Chak
	Mr. Huana Shenglan

*For identification purposes only.