Hua Han Bio-Pharmaceutical Holdings (HKG:0587) has sold 15% interest in Magic Holdings International (HKG:1633), a listed associate of Hua Han, at an aggregate cash consideration of HK$451 million to Baring Private Equity Asia V Holding (1)Limited . The consideration of the disposal based on a purchase price of HK$3 per share, which represents a premium of approximately 3.448% to the closing price of HK$2.9 of Magic Holdings on 18 January 2012

Hua Han expects to recognize a gain of HK$260.131 million as a result of the disposal for the year ending 30 June 2012. The proceeds from the disposal will be applied for development of its bio-pharmaceutical products and its general working capital purpose.

The disposal will be completed not later than three trading days after the trade date on 19 January 2012. Immediately after completion of the disposal, Hua Han retains 9.998% of the existing issued share capital of Magic Holdings, and Magic Holdings ceased to be an associate of Hua Han.