General Update on Joint Venture, and Riviera Sales (0396Y)

TIDMMCAU

RNS Number : 0396Y

Speymill Macau Property Company PLC

15 December 2010

Speymill Macau Property Company plc

General Update on Joint Venture, and Riviera Sales

The Board of Speymill Macau Property Company plc (the "Company") wishes to update its shareholders on two recent events:

1. Joint Venture: On Saturday, Dec. 11, the Company signed a contract to sell all of the properties in the Joint Venture known as Raphael (Macau) Ltd., in which the Company has an 83% interest, for its reported net Asset Value as of June 30, 2010. The purchaser has paid a 5% deposit and now has 60 days in which to make the full payments totalling approximately USD$5.6 million.

2. Riviera: Some buyers have made the final payments under the Plan "B" purchase plan and the Company received a total of HK$ 7,590,590 (approx. USD$ one million) on December 8, 2010 which money has been deposited in a one month Certificate of Deposit and added to the approximately US$12 935,509 received earlier and announced to shareholders on 19 November 2010. The US Dollar amount above is for information purposes only and in calculating such price a conversion price of 7.75 HK dollar to one US dollar was used.

Enquiries

For more information, please visit www.speymillmacau.com or contact:

Speymill Property Group Limited Galileo Fund Services Limited

(Manager) (Administrator)

Huang Khoo Ian Dungate

Terri Tsang Suzanne Jones

+44 1624 640 860 +44 1624 692600

Matrix Corporate Capital LLP Fairfax I.S. P.L.C. (Nominated Adviser and Broker) (Broker) Paul Fincham James King Jonathan Becher Andrew Cox +44 20 3206 7000 +44 20 7598 5368

This information is provided by RNS

The company news service from the London Stock Exchange

END

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