New World Development (00017) Controlling Shareholder Chow Tai Fook Enterprises Has Not Reached Any Agreement with Potential Investors

Stock News01-29

NEW WORLD DEV (00017) announced that the company has become aware of media reports speculating about potential investors related to the company. The company has made inquiries to its controlling shareholder, Chow Tai Fook Enterprises Limited, and was informed by Chow Tai Fook Enterprises that, as of the date of this announcement: (a) Chow Tai Fook Enterprises has been approached by several potential investors regarding a possible investment in the company; (b) it has not yet reached any agreement with any of these potential investors; (c) no agreement has been reached concerning the amount, nature, or form of such potential investments; and (d) there is no guarantee that these potential investments will proceed or not. The company confirms that it is not aware of any other information that must be disclosed to avoid a false market in the company's securities, nor is it aware of any inside information required to be disclosed under the insider information provisions.

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