Asia Television : LATEST DEVELOPMENT OF STATUTORY DEMAND

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ASIA TELEVISION HOLDINGS LIMITED

亞 洲 電 視 控 股 有 限 公 司

(incorporated in the Cayman Islands with limited liability)

(Stock Code: 707)

LATEST DEVELOPMENT OF STATUTORY DEMAND

This announcement is made by Asia Television Holdings Limited (the "Company" and together with its subsidiaries, the "Group") pursuant to Rules 13.09 and 13.19 of the Rules Governing the Listing of Securities (the"Listing Rules") on The Stock Exchange of Hong Kong Limited and the Inside Information Provisions (as defined in the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

Reference is made to the announcements of the Company dated 21 October 2019, 24 October 2019 and 28 October 2019 (the "Announcements") in relation to, among others, the Statutory Demand I and the Statutory Demand II. Unless otherwise stated, capitalised terms used herein shall bear the same meanings as defined in the Announcements.

The Board wish to update the shareholders and potential investors of the Company that, as at the date of this announcement, the Company has completely repaid all the alleged outstanding debt to Creditor I, including the principal sum of HK$137 million, all the accrued interests and all the accrued legal and professional fees in the aggregate amount of HK$ 165,287,167.42 (the "Settlement"). As a result of the Creditor I has confirmed that it had received the Settlement, the Statutory Demand I will be deemed to be set aside accordingly.

Further announcement(s) will be made by the Company as and when appropriate.

Shareholders of the Company and potential investors are advised to exercise caution when dealing in the shares of the Company.

By order of the Board

Asia Television Holdings Limited

Deng Junjie

Chairman

Hong Kong, 18 December 2019

As at the date of this announcement, the board of Directors comprises Mr. Deng Junjie, Mr. Wang Jiasi, Mr. Chan Wai Kit, Mr. Sze Siu Bun and Ms. Sun Tingting as executive Directors, Ms. Han Xingxing, Mr. Li Yu and Ms. Wong Chi Yan as independent non-executive Directors.