Travel Expert IPO shares 16.66 times subscribed

Offer Price Set at HK$0. 63 Per Share with expected net proceeds of HK$49.5mn.

Travel Expert (Asia) Enterprises Limited (“Travel Expert”) Wednesday announced its share offer allotment results.

The offer shares for public offer were approximately 16.66 times subscribed. The offer price has been set at HK$0.63 per share. Due to the significant over-subscription in the Public Offer, the re-allocation procedure has been applied. The final number of public offer shares has been increased to 30,000,000 shares and the number of placing shares has been reduced to 70,000,000 shares.

Based on the final offer price of HK$0.63 per share, the estimated net proceeds from the share offer is approximately HK$ 49,500,000 and are planned to be used for development of the Group’s corporate sales business; exploration of possible regional expansion in Asia (including the PRC), consolidation of the Group’s operational infrastructure to prepare for future expansion; and as General working capital.

Mr Daniel Ko, Chairman of Travel Expert, said, “We are pleased by the subscription results, which demonstrate the confidence of investors in our business and prospects. The listing on the Main Board of The Stock Exchange of Hong Kong Limited is an important milestone for Travel Expert. As the largest Frequent Individual Traveller specialty travel agent in Hong Kong with 25 years of experience, we will remain active in our leisure travel business, and strive to accelerate our expansion in corporate business and cruise holidays so as to sustain overall business growth.”

Shares of Travel Expert will commence dealing on the Main Board of The Stock Exchange of Hong Kong Limited on Thursday, 29 September 2011 under the stock code of 1235. Shares will be traded in board lots of 5,000 shares.

OSK Capital Hong Kong Limited is the Sole Sponsor of the listing, while OSK Securities Hong Kong Limited is the Sole Bookrunner and Joint Lead Manager.