(Hong Kong, 3 April 2014) – Landing International Development Limited (“Landing International” or the “Company” and together with its subsidiaries, the “Group”) (HKEx: 582) is pleased to announce today that, a directly wholly-owned subsidiary of the Company entered into the sale and purchase agreement with an investment holding company and the Guarantor. The Group will be principally engaged in the gaming market carried under the tradename of Beluga Ocean Casino at Hyatt Regency Jeju Hotel at Jeju, Korea, a five-star international brand hotel pursuant to the licence under the Tourism Promotion Act.

The gaming business includes 7 VIP Baccarat tables, 24 Baccarat tables, 1 Blackjack table, 1 Roulette table and 30 slot machines. The consideration amounts to KRW120,000,000,000 (equivalent to approximately HK$875,912,409). The consideration shares will be issued upon completion at the issue price of HK$0.6 per consideration share to satisfy the consideration in full. Upon completion, the Vendor will hold approximately 8.59% of the Company’s enlarged issued share capital.

Mr. YANG Zhihui, Chairman of Landing International, stated: “The Group is delighted to implement the acquisition that enables us to obtain one of the eight casino licenses in total granted by the Government of Jeju Island, Korea, enabling the Group to grasp the casino business prospects and business opportunities of the boom of Korean tourism. In the view that the Group’s Jeju Integrated Resort Project may not be able to contribute any immediate cash inflow to the Group in the near future as the relevant developments take time, the acquisition provides an opportunity for the Group to participate in the casino business in Jeju, Korea immediately without having any substantial cash outflow as consideration. The acquisition marks a milestone for the Group to begin the casino business in Jeju, Korea.”

-End-