Television Broadcasts Limited — M&A Activity 2011

Jan 20, 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.

==> picture [133 x 94] intentionally omitted <==

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 290)

Website: http://www.290.com.hk

MAJOR AND CONNECTED TRANSACTION COMPLETION OF THE ESL DISPOSAL

Reference is made to the announcements of China Fortune Group Limited (the ‘‘Company’’) dated 22 October 2009, 14 April 2010, 15 July 2010, 13 October 2010 and 13 January 2011, respectively, as well as the circular of the Company dated 22 December 2009 (the ‘‘Circular’’) and the poll results announcement of the Company dated 13 January 2010 in relation to, among others, the ESL Agreement and the ESL Disposal. Capitalized terms used in this announcement shall have the same meanings as those defined in the Circular unless otherwise stated.

The Board is pleased to announce that all conditions to the ESL Agreement were fulfilled on 19 January 2011 and the ESL Disposal was completed on 20 January 2011.

By Order of the Board China Fortune Group Limited Ng Cheuk Fan, Keith Managing Director

Hong Kong, 20 January 2011

As at the date of this announcement, the Board consists of three Executive Directors, namely Mr. Ng Cheuk Fan, Keith (Managing Director), Mr. Yeung Kwok Leung and Mr. Hon Chun Yu; three Non-Executive Directors, Mr. Wong Kam Fat, Tony (Chairman), Mr. Zhang Min and Mr. Xia Yingyan and three Independent Non-Executive Directors, namely Mr. Tam B Ray Billy, Mr. Ng Kay Kwok and Mr. Lam Ka Wai, Graham.

– 1 –