Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited (the “Stock Exchange”) take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Hong Kong with limited liability)

(Stock Code : 16)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”).

The board of directors (the “Board”) of Sun Hung Kai Properties Limited (the “Company”) announces that 2,982,000 share options (the “Share Options”) to subscribe for up to a total of 2,982,000 ordinary shares of nominal value of HK$0.50 each in the capital of the Company (the “Shares”) were granted to certain individuals (the “Grantees”), subject to the acceptance of the Grantees, under the share option scheme adopted by the Company on 5 December 2002. Details of the Share Options are as follows:

Date of grant : 11 July 2011

Exercise price of Share Options granted : HK$116.90 per Share

Number of Share Options granted : 2,982,000 Share Options, each Share

Option entitling the Grantee to subscribe for one Share

Closing price of the Shares as quoted on

the Stock Exchange on the date of grant

: HK$116.50 per Share

Validity period of the Share Options : The option period of the Share Options shall be 5 years from the date of grant and the Share Options shall lapse at the expiry of the option period.

Among the Share Options granted above, 100,000 Share Options were granted to

Mr. CHAN Kwok-wai, Patrick, an Executive Director and the Chief Financial Officer of the Company.

By order of the Board

YUNG Sheung-tat, Sandy

Company Secretary

Hong Kong, 11 July 2011

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As at the date hereof, the Board of the Company comprises seven Executive Directors, being KWOK Ping-kwong, Thomas, KWOK Ping-luen, Raymond, CHAN Kai-ming, CHAN Kui-yuen, Thomas, KWONG Chun, WONG Chik-wing, Mike and CHAN Kwok-wai, Patrick; seven Non-Executive Directors, being KWONG Siu-hing, LEE Shau-kee, KWOK Ping-sheung, Walter, WOO Po-shing (WOO Ka-biu, Jackson being his Alternate Director), KWAN Cheuk-yin, William, LO Chiu-chun, Clement and WONG Yick-kam, Michael; and four Independent Non-Executive Directors, being YIP Dicky Peter, WONG Yue-chim, Richard, LI Ka-cheung, Eric and FUNG Kwok-lun, William.

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