5 January 2017

Aseana Properties Limited

("Aseana" or the "Company")

Result of Tender Offer and Total Voting Rights

The Company today announces the result of the Tender Offer, details of which were set out in the circular to Shareholders published by the Company on 13 December 2016 (the "Circular").

The tender was fully taken up with a total of 13,334,000 Shares validly tendered by Shareholders and accepted for purchase by N+1 Singer Capital Markets at the Tender Price for a total cost of US$10,000,500 excluding expenses. This represents approximately 6.29 per cent. of the Company's current share capital.  Tenders received for surplus Shares will be met at the rate of 0.00041307 Shares for each surplus Share tendered over and above the Basic Entitlement (rounded down to the nearest whole number of Shares).

As set out in the Circular, N+1 Singer Capital Markets will purchase the Shares validly tendered by Shareholders. Following the purchase, as further set out in the Circular, the Company will buy back such Shares from N+1 Singer Capital Markets. The Company intends to hold all such repurchased Shares in treasury.

It is anticipated that consideration for the certificated Shares purchased under the Tender Offer will be sent to Shareholders by 10 January 2017 in the form of a cheque. CREST account holders will have their CREST accounts credited by 10 January 2017. Balancing certificates will be issued and share certificates for unsuccessfully tendered Shares will be sent to Shareholders by 10 January 2017.

Capitalised terms used in this announcement have the same meaning as given to them in the Circular.

For the purposes of the Disclosure Guidance and Transparency Rules, following completion of the Tender Offer the Company's total issued share capital comprises 212,025,000 Shares of US$0.05 each, with one voting right per Ordinary Share and 2 Management Shares of US$0.05 each, with one voting right per Management Share. There are 13,334,000 Shares held in treasury. The total number of voting rights in the Company is therefore 198,691,000.

The above figure of 198,691,000 Shares may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company, under the Disclosure Guidance and Transparency Rules.

If you have any questions regarding the Tender Offer please contact the Receiving Agent on 0370 707 4040 or +44 (0)370 707 4040 if calling from outside the UK.  The helpline is open between 8.30 a.m. - 5.30 p.m. Monday to Friday excluding public holidays in England and Wales.  Calls may be recorded and randomly monitored for security and training purposes.

For further information:

Notes to Editors:

London-listed Aseana Properties Limited (LSE: ASPL) is a property developer investing in Malaysia and Vietnam.

Ireka Development Management Sdn Bhd ("IDM") is the exclusive Development Manager for Aseana. It is a wholly-owned subsidiary of Ireka Corporation Berhad, a company listed on the Bursa Malaysia since 1993, which has over 45 years of experience in construction and property development. IDM is responsible for the day-to-day management of Aseana's property portfolio and the introduction and facilitation of new investment opportunities.