China Modern Dairy : DISCLOSEABLE TRANSACTION AND CONNECTED TRANSACTION RELATING TO ACQUISITION OF 45% EQUITY INTEREST IN MFDPS INVOLVING ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE DELAY IN DESPATCH OF CIRCULAR

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This announcement is for information purpose only and does not constitute an invitation or offer to acquire, purchase or subscribe for any securities of the Company.

China Modern Dairy Holdings Ltd.

中 國 現 代 牧 業 控 股 有 限 公 司

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 1117) DISCLOSEABLE TRANSACTION AND CONNECTED TRANSACTION RELATING TO ACQUISITION OF 45% EQUITY INTEREST IN MFDPS INVOLVING ISSUE OF CONSIDERATION SHARES UNDER SPECIFIC MANDATE DELAY IN DESPATCH OF CIRCULAR

Reference is made to the announcement and the supplemental announcement (together, the "Announcements") of China Modern Dairy Holdings Ltd. (the "Company") dated June 16, 2016 and June 22, 2016 in relation to, among other things, the acquisition of 45% equity interest in MFDPS, respectively (the "Transaction"). Unless otherwise defined, capitalised terms used in this announcement shall have the same meanings as those defined in the Announcements.

As stated in the Announcements, a circular (the "Circular") containing, among others, the particulars of the Sale and Purchase Agreement together with a letter from the Independent Board Committee, a letter from the independent financial adviser and a notice of the EGM is expected to be despatched to the Shareholders on or about

July 8, 2016. As additional time is required to finalise certain information to be included in the Circular, the Circular is expected to be despatched as soon as practicable on or before July 18, 2016.

Hong Kong, July 8, 2016

On behalf of the Board

China Modern Dairy Holdings Ltd. Ms. GAO LINA

Deputy Chairman, Chief Executive Officer and Executive Director

As of the date of this announcement, the executive Directors are Ms. GAO Lina, Mr. HAN Chunlin and Mr. SUN Yugang, the non-executive Directors are Mr. YU Xubo, Mr. WOLHARDT Julian Juul, Mr. HUI Chi Kin Max and Mr. ZHANG Ping, the independent non-executive Directors are Prof. LI Shengli, Mr. LEE Kong Wai Conway, Mr. KANG Yan and Mr. ZOU Fei.