China Dredging Environment Protection : FURTHER UPDATE ON THE 2016 BONDS

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China Dredging Environment Protection Holdings Limited

中 國 疏 浚 環 保 控 股 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 871)

FURTHER UPDATE ON THE 2016 BONDS

Reference is made to the announcement of China Dredging Environment Protection Holdings Limited (the "Company") dated 15 March 2019 in relation to the Sixth Amendment Agreement on the 2016 Bonds (the "Previous Announcement"). Terms used in this announcement shall have the same meanings as those defined in the Previous Announcement, unless defined otherwise in this announcement.

The Board announces that the 2016 Bonds under the Sixth Amendment Agreement are due on 20 December 2019. As at the date of this announcement, the outstanding 2016 Bonds have not been redeemed by the Company.

The Company is taking steps to discuss with the Bondholder about the redemption arrangement. Further announcement(s) regarding any agreement or settlement between the Company and the Bondholder in relation to the 2016 Bonds or any other arrangement concerning the 2016 Bonds will be made by the Company as and when appropriate in compliance with the Listing Rules.

Shareholders and potential investors should exercise caution when dealing in shares of the Company.

By order of the Board

China Dredging Environment Protection Holdings Limited

Liu Kaijin

Chairman and Executive Director

Hong Kong, 20 December 2019

As at the date of this announcement, the Board comprises Mr. Liu Kaijin as Chairman and Executive Director; Mr. Wu Bin as Vice Chairman and Executive Director; Mr. Wu Xuze as Executive Director and Chief Executive Officer; Ms. Zhou Shuhua as Executive Director; and Mr. Huan Xuedong, Mr. Chan Ming Sun Jonathan and Mr. Liang Zequan as Independent Non-executive Directors.