China Fishery : EXPIRY OF UNLISTED WARRANTS ISSUED TO CAP III-A LIMITED

CHINA FISHERY GROUP LIMITED

(Incorporated in the Cayman Islands)

(the "Company")

EXPIRY OF UNLISTED WARRANTS ISSUED TO CAP III-A LIMITED

Reference is made to the announcements made by the Company on 5 December 2013, 3 January 2014, 24 April 2015 and 11 June 2015, and the circular sent to shareholders of the Company dated 9 January 2014 (the "Circular").

Unless otherwise defined, all capitalised terms used in this announcement shall bear the same meanings as defined in the aforesaid announcements and the Circular.

EXPIRY OF UNLISTED WARRANTS ON 27 JANUARY 2017 AT 3:00 PM

As at the date of this announcement, there are 113,636,363 warrants issued to CAP III-A Limited (the "Carlyle Warrants"). Each warrant carries the right to subscribe for one (1) new ordinary share in the capital of the Company. The right to subscribe for one (1) new ordinary share of the Company of US$0.05 each at the adjusted exercise price of S$0.44 per warrant will expire at 3:00 p.m. on 27 January 2017. After this stated time any rights comprised in the Carlyle Warrants which have not then been exercised, will lapse and such warrants will cease thereafter to be valid for any purpose whatsoever.

CAP III-A Limited has been notified in writing of the expiry of the Carlyle Warrants' exercise period. By Order of the Board

Ng Puay Yee (Jessie)

Executive Director and Chief Executive Officer 24 January 2017