TAN CHONG INT'L(00693) subsidiary sells a total of 708,100 shares of Subaru stock.

TAN CHONG INT'L (00693) announced that its indirect wholly-owned subsidiary, Redcliffe Investments, has sold call options to Nomura Singapore for a total premium of 57.8 million Japanese yen (equivalent to approximately 3 million Hong Kong dollars) during the relevant period. Nomura Singapore may, at its discretion, exercise the call options on the corresponding expiration date to purchase Subaru shares held by Redcliffe Investments; and conduct a series of transactions in the public market to sell a total of 708,100 shares of Subaru, with a total consideration of 2.196 billion Japanese yen (equivalent to approximately 116 million Hong Kong dollars) (excluding brokerage fees).