Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

PACIFIC ANDES INTERNATIONAL HOLDINGS LIMITED

(STOCK CODE: 1174)

OVERSEAS REGULATORY ANNOUNCEMENT ANNOUNCEMENT IN RELATION TO REPLY TO QUERY REGARDING TRADING ACTIVITY OF CHINA FISHERY GROUP LIMITED

The Board of Directors of Pacific Andes International Holdings Limited (the "Company") hereby announces the reply to query regarding trading activity of China Fishery Group Limited ("China Fishery"), the Company's 38% non-wholly-owned subsidiary, the shares of which are listed on the Singapore Exchange Securities Trading Limited.

This announcement is made by the Company pursuant to Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited. This announcement is a reproduction of the announcement made by China Fishery pursuant to the Listing Manual of Singapore Exchange Securities Trading Limited on 28 January 2013.

Directors

As at the date of this announcement, the executive directors of the Company are Madam Teh Hong Eng, Mr. Ng Joo Siang, Mr. Ng Joo Kwee, Mr. Ng Joo Puay, Frank and Ms. Ng Puay Yee whilst the independent non-executive directors of the Company are Mr. Lew V. Robert, Mr. Kwok Lam Kwong, Larry and Mr. Tao Kwok Lau, Clement.

28 January 2013
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Below is the content of the announcement of China Fishery released in Singapore on 28
January 2013.

Note: The expression "Company" and "Group" means China Fishery Group Limited and China Fishery Group

Limited and its subsidiaries respectively.

REPLY TO QUERY REGARDING TRADING ACTIVITY


The Board of Directors of China Fishery Group Limited (the "Company" and together with its subsidiaries, the "Group") refers to the queries from SGX-ST on 28 January 2013 regarding the substantial increase in the price of shares of the Company traded on 28 January
2013 (the "Queries"). The Company sets out its responses to the Queries as follows:-

Question 1

Are you aware of any information not previously announced concerning you (the issuer), your subsidiaries or associated companies which, if known, might explain the trading? - If yes, the information must be announced immediately.

Response

The Company is not aware of any information not previously announced concerning the Company, its subsidiaries or associated companies which, if known, might explain the trading and the increase in the price of the Company's shares.

Question 2

Are you aware of any other possible explanation for the trading? Response
The Company held its annual general meeting on 28 January 2013 ("AGM"). At the AGM, the Chairman of the meeting, Mr. Ng Joo Siang, in the course of responding to the Company's shareholders' questions, disclosed details of two matters which may not have been announced to the market through SGXNET. The details are set out below:-
(1) One of Russia's pollock fisheries is in the 15-day public consultation stage and if there is no objections during the said period, the said Russian fishery is cleared for Marine Stewardship Council ("MSC") certification. The a bove information is publicly available.
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(2) The Company together with Pacific Andes Resources Development Limited and Pacific Andes International Holdings Limited (the Company's listed indirect controlling shareholders) have previously announced on 5 December 2012 that the Group was in discussions with Russian Sea Catching LLC ("RSC") of the Russian Federation in respect of exploring various opportunities of possible future co-operation with RSC. It was disclosed at the AGM that the Group is unlikely to invest in more than a minority stake and may consider investing if, amongst other things, the future cooperation could assist in broadening the benefits currently enjoyed by the Group in Russia. It was also disclosed that negotiations are still on-going and an announcement will be made if an agreement is reached.
Save as disclosed above, the Company is not aware of any other possible explanation for the trading activity and the increase in price of the Company's shares.

Question 3

Can you confirm your compliance with the listing rules and, in particular, listing rule 703? Response
The Company confirms that it has and will continue to comply with the listing rules and in particular listing rule 703.
By Order of the Board

Yvonne Choo

Company Secretary

28 January 2013
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