I T : UNAUDITED FY16/17 THIRD QUARTER TRADING UPDATE FOR THE THREE MONTHS ENDED 30 NOVEMBER 2016

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.

(Incorporated in Bermuda with limited liability)

(Stock Code: 999) UNAUDITED FY16/17 THIRD QUARTER TRADING UPDATE FOR THE THREE MONTHS ENDED 30 NOVEMBER 2016

This announcement is made pursuant to the provisions of inside information under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong) and Rule 13.09(2) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited.

This update is made by I.T Limited (the "Company") on a voluntary basis on the key business operations and selected unaudited financial information of the Company and its subsidiaries (the "Group") for the three months ended 30 November 2016 (the "Third Quarter").

Third Quarter Key Operational Data

Comparable store sales growth (in local currency) - key operating markets:

3 months ended 30 November 2016	YOY Change
Hong Kong	-4.6%
Mainland China	+18.5%
Japan	+22.4%

9 months ended 30 November 2016	YOY Change
Hong Kong	-2.1%
Mainland China	+9.5%
Japan	+27.7%

Gross profit margin (in Hong Kong Dollar) - key operating markets:

3 months ended 30 November 2016	YOY change
Hong Kong	60.5%	+1.2%pt
Mainland China	64.6%	-1.2%pt
Japan	69.8%	+5.6%pt
Group	63.9%	+0.7%pt

9 months ended 30 November 2016	YOY change
Hong Kong	59.4%	+1.7%pt
Mainland China	60.7%	-0.6%pt
Japan	70.9%	+2.7%pt
Group	61.8%	+0.9%pt

The overall economic environment, including our sector, continued to be very challenging in the "Third Quarter". A strengthened HKD that has the effect of encouraging outbound spending has continued to place downward pressure on our Hong Kong operation. In contrast, our China operation has delivered a positive comparable store sales growth on the back of the outstanding performances of multiple international brands during the period. Japan has also continued to yield positive results, irrespective of moderate economic developments in the region.

A level of enhancement in gross profit margin has been achieved on the group level; this uplift was primarily as a result of the withdrawal of several price discounting programs, as well as a sales mix focused on higher margin products during the period.

Caution Statement:

The Board of Directors of the Company would like to remind investors that the above trading update is compiled basing on the Company's internal records and management accounts for the three months and nine months ended 30 November 2016 which have not been reviewed or audited by the auditor of the Company. 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 Sham Kar Wai Chairman

Hong Kong, 25 January 2017

As at the date of this announcement, the Board comprises Mr. SHAM Kar Wai, Mr. SHAM Kin Wai and Mr. CHAN Wai Kwan as Executive Directors and Mr. Francis GOUTENMACHER, Dr. WONG Tin Yau, Kelvin, JP and Mr. MAK Wing Sum, Alvin as Independent Non-executive Directors.