The holding company NEW WORLD DEV(00017) controlled by CHOW TAI FOOK has not reached any agreement with any potential investors yet.

New World Development (00017) announced that the company has learned from media reports speculating about potential investors in the company. The company has made inquiries to its controlling shareholder (CHOW TAI FOOK Enterprises Limited) and has been informed by CHOW TAI FOOK Enterprises that as of the date of this announcement: (a) CHOW TAI FOOK Enterprises has been in contact with several potential investors regarding possible investments in the company; (b) no agreements have been reached with any of these potential investors; (c) no agreements have been reached regarding the amount, nature or form of these potential investments; and (d) there is no guarantee that these potential investments will proceed. The company confirms that it is not aware of any other information that must be disclosed to prevent false markets in the company's securities, nor is it aware of any inside information that must be disclosed in accordance with insider trading provisions.