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CHIHO-TIANDE GROUP LIMITED

(Incorporated in the Cayman Islands with limited liability)

(Stock code: 976) FURTHER UPDATE ON THE LEGAL PROCEEDINGS IN THE PEOPLE'S REPUBLIC OF CHINA INVOLVING CHIHO-TIANDE (SHANGHAI) METALS RECYCLING CO., LTD*

Reference is made to the announcements (the "Announcements") of Chiho-Tiande Group Limited (the "Company") dated 14 December 2012 and 15 January 2014 regarding the Legal Proceedings between the Shanghai JV and SST in the PRC. Unless otherwise specified, capitalized terms shall have the same meaning as those defined in the Announcements.
On 20 January 2014, the Shanghai JV received notification from the Appellate Court that SST had applied for an appeal against the Judgment.
The Shanghai JV will obtain advice from its PRC legal counsel on the appeal filed by SST. As set out in the Announcements, the Directors take the view that the Legal Proceedings will not have any material adverse effect on the business, operations or financial results of the Group.
The Company will keep its shareholders and the investors informed of the development of the Legal
Proceedings as and when appropriate.
By Order of the Board

Chiho-Tiande Group Limited Fang Ankong

Chairman

Hong Kong, 22 January 2014
1

As at the date of this announcement, the Board of Directors of the Company comprises:

Executive Directors: Non-executive Director:

Independent non-executive Directors:

* Far identijìcation purposes only

Fang Ankong, Stephanus Maria van Ooijen, Gu Liyong

Michael Charles Lion

Loke Yu, Li Xikui, Zhang Jingdong

2

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